Company Overview
Capacit'e Infraprojects Limited, a Mumbai-based engineering and construction company specializing in high-rise building construction, reported its FY26 annual results and announced its 14th Annual General Meeting scheduled for July 24, 2026. The company has delivered over 100 projects across India's key urban markets, constructing more than 75 million sq. ft. area since 2012.
FY26 Financial Performance
The company reported strong financial results with revenue from operations growing 12% to ₹2,623 Crores (from ₹2,350 Crores in FY25) and EBITDA increasing 13% to ₹427 Crores with margin improvement to 16.3% from 16.1%. Profit After Tax stood at ₹193 Crores while Cash PAT reached ₹318 Crores with 12.0% margin. Net operating cash flow showed significant improvement to ₹224 Crores from ₹52 Crores in FY25.
Operational Highlights and Order Book
The company maintained a robust order book of ₹13,498 Crores, providing 5.1x revenue visibility, with order inflow of ₹4,446 Crores exceeding guidance of ₹3,500 Crores. The order book composition includes 57% public sector projects and 43% private sector projects, with 60% comprising projects above 40 floors. Working capital discipline improved significantly with a 43-day reduction in working capital days.
Credit Rating and Auditor Matters
The company received a credit rating upgrade to IVR BBB+/Stable in May 2026, with fund-based borrowing costs reducing from 12.5% to 9.65% over two years. However, the auditor issued a qualified opinion regarding the recoverability of ₹1,155.93 lakhs trade receivable from one party involved in NCLT proceedings. An emphasis of matter was also noted regarding long-outstanding trade receivables, contract assets and other exposures amounting to ₹5,492.76 lakhs under legal recovery process.
Strategic Initiatives and Vision 2028
The company continues its strategic focus on high-rise construction with Vision 2028 targeting revenue above ₹4,000 Crores with 20%+ CAGR while maintaining EBITDA margins of 16-17%. FY27 capex of ₹200 Crores is planned for aluminium formwork and jump-form systems to improve high-rise productivity. The company aims to further reduce working capital requirements and debt levels.
Corporate Governance and AGM Details
The 14th AGM will be held on July 24, 2026 via video conferencing, with e-voting period from July 20-23, 2026. Resolutions include reappointment of directors, ratification of cost auditor remuneration, and alteration of Memorandum of Association to include EPC works explicitly. The board comprises 8 directors including 5 independent directors.
Subsidiaries and Joint Ventures
The company has one subsidiary (CIL MMEPL Ekatha Private Limited for Maldives projects), two associates (TCC Construction Private Limited and TPL-CIL Construction LLP), and five joint ventures for specific projects including port facilitation center, IFSCA headquarters, and high-speed rail projects.
Risk Factors and Mitigation
Key risks include working capital intensity, labor availability, commodity price volatility, and geographic concentration (72% order book in Mumbai Metropolitan Region). Mitigation strategies include structured receivables reduction plan targeting 90 working capital days, diversification into other geographies, and progressive retirement of high-cost NCDs.
Subsequent Events and Compliance
Post balance sheet, the company redeemed existing Non-Convertible Debentures amounting to ₹5,250.00 lakhs through early redemption. The company maintains full compliance with no material changes affecting financial position post-FY26 and no proceedings under Insolvency and Bankruptcy Code.