21-Oct-2026 21:31:21
SWASTIKA INFRA Q2 CONCALL : ₹2,000 CR ORDER BOOK TARGET, STRONG H2 EXECUTION & 14% EBITDA MARGIN GUIDANCE
• FY27-END ORDER BOOK TARGETED AT APPROXIMATELY ₹2,000 CR VS CURRENT ₹1,420 CR • NEW ORDERS WORTH APPROXIMATELY ₹950 CR SECURED DURING H1 FY27 • ₹600 CR MAHARASHTRA ORDER EXPECTED TO BE EXECUTED OVER NEXT TWO YEARS • H2 FY27 PROJECT EXECUTION EXPECTED TO ACCELERATE SIGNIFICANTLY • Q3 FY27 REVENUE INDICATED AT ₹200–250 CR; NOT FORMAL GUIDANCE • Q4 HISTORICALLY CONTRIBUTES APPROXIMATELY 40% OF ANNUAL REVENUE • FY27 EBITDA MARGIN EXPECTED AROUND 14%, WITH ±50 BPS VARIATION • LONG-TERM EBITDA MARGIN IMPROVEMENT ASPIRATION AT 100–200 BPS • MANAGEMENT EVALUATING NEW TENDERS WORTH APPROXIMATELY ₹1,059 CR; NOT CONFIRMED ORDERS • GEOGRAPHIC EXPANSION PLANNED INTO 2–3 ADDITIONAL STATES FROM CURRENT NINE STATES • UNDERGROUND CABLING & POWER DISTRIBUTION EXPECTED TO REMAIN PRIMARY GROWTH DRIVERS • RECEIVABLE COLLECTIONS & WORKING CAPITAL EXPECTED TO IMPROVE DURING H2 FY27 • BORROWING COSTS EXPECTED TO DECLINE OVER NEXT 2–4 QUARTERS, SUPPORTED BY IPO PROCEEDS • PROJECT EXECUTION DELAYS, WORKING CAPITAL PRESSURE & MARGIN NORMALIZATION REMAIN KEY RISKS
SWASTIKA INFRA LIMITED