Cont. Petroleums

- No further equity dilution is planned; company has completed two tranches of dilution already. - Regarding debt, there is no explicit mention of new debt fundraising; however, short-term borrowings have increased to support project execution and raw material purchases. - Capital expenditure for FY26 will be moderate and focused on automation, expansion of incineration, and solar EPC equipment, but all investments will be ROI-driven and aligned with the long-term roadmap. - The company is focusing on deleveraging with a strategy to reduce long-term borrowings. - Overall, no new fundraising announcements via equity or debt were indicated in the call.

- Current CapEx is focused on expanding the incineration project and establishing a new Co-processing unit, which has received consent to establish from the Pollution Control Board. - Investments are also planned for the EPC segment, particularly in project execution and funding. - Modernization of lubricants and greases manufacturing, especially for customized, high-margin products to target more OEMs. - Moderate CapEx planned for FY26 aimed at automation in packaging, expansion and upgrades of incineration facilities, and solar EPC equipment. - All investments will be ROI-driven and aligned with the company’s long-term business roadmap. - Future strategic priorities include capacity augmentation of waste management services and potential expansion into new geographic regions. - The company is looking at further due diligence for establishing similar co-processing projects in Rajasthan areas like Chittor and Bhilwara.

- Lubricants & Greases: Focus on high-margin specialty and customized products, aiming to increase gross margins from 10-12% to around 20-25%. Expansion in domestic EV markets and international exports expected to drive volume and revenue growth. - Hazardous Waste Management: Scaling capacity at incineration plant and commissioning a new Co-processing unit expected to add 15-20% to top line. Plans to expand into new regions with demand such as Chittorgarh and Bhilwara areas. - EPC Projects: Order book currently at ₹240 crores with tenders worth ₹260-270 crores under bidding. Execution momentum to continue with new project wins anticipated, supporting stable revenue growth. - Overall FY26: Anticipated balanced contribution from all verticals, with strategic investments in automation, modernization, and expansion to drive sustainable long-term growth.

- FY25 marked a year of scale-up, restructuring, and consolidation, delivering strong topline growth (112% YoY). - EBITDA margin stood at 34.3% with profit after tax growth of 57.9% over FY24. - Focus on better cost control, sharper execution, and resilient margins, especially in the EPC segment, to improve profitability. - Lubricants segment targeting margin expansion from current 10-12% gross to 20-25% by focusing on specialty and customized products. - Expansion of hazardous waste incineration and Co-processing units expected to increase top line by 15-20%. - EPC order book of ₹240 crores with pipelines worth ₹260-270 crores aims to sustain growth and order momentum. - Moderate CapEx planned in FY26 targeting automation, incineration expansion, and solar EPC, aligned with ROI. - Overall, balanced vertical contributions and strategic expansions position the company for a brighter FY26 with sustainable earnings growth.

- Current EPC order book stands at ₹240 crores with execution timelines of 12 to 18 months. - Out of this, ₹90 crores worth of work from the March 2023 EPC project has already been completed. - A recent work order of ₹212 crores was secured, with 40-50% expected to be executed in the current financial year. - The company has bidded for additional EPC projects worth ₹260-270 crores, with bid results expected within a month or two. - Total orders in hand are about ₹240 crores, with an active tender pipeline including projects from RDSS and Discom modifications. - The company aims to continue securing and executing EPC projects, maintaining a steady order book for upcoming years.