Financial Performance Highlights

Q4 FY2026 Performance (Quarter ended 31st March 2026):

  • Revenue from Operations: Rs. 105.15 crore (vs Rs. 92.95 crore in Q3FY26, +13.12% QoQ)
  • EBITDA: Rs. 19.01 crore (vs Rs. 11.99 crore in Q3FY26, +58.53% QoQ)
  • PAT: Rs. 11.36 crore (vs Rs. 7.00 crore in Q3FY26, +62.39% QoQ)

Full Year FY2026 Performance (Year ended 31st March 2026):

  • Revenue from Operations: Rs. 348.49 crore (vs Rs. 307.43 crore in FY25, +13.35% YoY)
  • EBITDA: Rs. 48.54 crore (vs Rs. 44.64 crore in FY25, +8.74% YoY)
  • Net Profit: Rs. 26.23 crore (vs Rs. 22.72 crore in FY25, +15.46% YoY)

Order Book & Business Development

  • Unexecuted order book position: Rs. 600+ crore as of 31st March 2026
  • Recent order additions: Rs. 439.75 crore
  • Order book provides clear revenue visibility over the next 12-18 months
  • Healthy order pipeline: Nearly Rs. 2,000+ crore
  • Revenue contribution from specialized construction business increased from approximately 25% to around 35% during the year

Strategic Initiatives & Corporate Developments

Amalgamation Progress:

  • Progressing with amalgamation of group company Markolines Infra Limited
  • Scheme submitted to stock exchanges (BSE and NSE)
  • Required clarifications provided to exchanges
  • Appointed Sobhagya Capital Options as Merchant Banker for the amalgamation
  • Resubmitted merger application with BSE and NSE in March 2026

Capital Structure Strengthening:

  • Converted 1,40,000 warrants into equity shares at Rs. 165 per share
  • Preferential allotment to non-promoter investor

Technology & Execution Focus:

  • Focus on technology-led execution remains key differentiator
  • Early adoption and successful implementation of advanced techniques:
  • Micro-surfacing
  • Cold In-Place Recycling (CIPR)
  • Full Depth Reclamation (FDR)
  • Successfully executed over 5,381 lane kilometers of highway maintenance work across multiple states

Management Commentary

Mr. Vijay Oswal, Founder & Chief Financial Officer:

  • Company delivered strong operational and financial performance in Q4FY26 on sequential basis
  • Strong demand for specialized highway maintenance solutions driving growth
  • Company's ability to maintain margins while scaling operations demonstrated
  • Technology-enabled solutions address growing need for cost-efficient and sustainable road maintenance solutions

Mr. Sanjay Patil, Founder, Chairman & Managing Director:

  • Aim to achieve nearly 3x growth in revenue with similar scaleup in profitability
  • Strong growth opportunities from Government's continued focus on infrastructure development
  • Initiatives such as asset monetization and expansion of national highway network creating significant long-term opportunities
  • Successfully secured orders in other infrastructure segments, strengthening diversified business portfolio
  • Strong execution capabilities and technology-driven approach position company to capitalize on structural growth opportunities

Company Background

  • Established in 2002
  • Leading highway operations and maintenance (O&M) and specialized infrastructure solution provider
  • Only listed company operating in highway O&M segment
  • Headquartered in Navi Mumbai
  • Offers comprehensive suite of services in highway maintenance:
  • Major Maintenance & Repairs (MMR)
  • Rigid Pavement (concrete road) Maintenance
  • Specialised maintenance services
  • Specialised construction activities
  • Migrated to BSE Mainboard: June 12, 2025
  • Listed on NSE Mainboard: October 2025
  • Corporate Office: 6th Floor, Wing-A, Shree Nand Dham, Sector 11, CBD Belapur, Navi Mumbai 400614 Maharashtra, India