Financial Performance Highlights (Standalone)
Nila Infrastructures reported strong financial results for FY 2025-26 with revenue from operations growing 31% to ₹32,270.66 lakh (FY25: ₹24,688.10 lakh) and profit after tax increasing 25% to ₹2,699.11 lakh (FY25: ₹2,153.65 lakh). Total income reached ₹33,792.25 lakh, a 29% increase, while profit before tax rose 26% to ₹3,757.14 lakh. EBITDA improved to ₹2,826 lakh at 9% margin compared to ₹1,946 lakh at 8% margin in FY25.
Key Financial Position
As at March 31, 2026, total assets stood at ₹88,753.26 lakh (FY25: ₹86,061.70 lakh) with net worth of ₹20,785.45 lakh (FY25: ₹18,103.25 lakh). Borrowings decreased by 9% to ₹2,369.08 lakh, resulting in improved debt-equity ratio of 0.11 (0.14 in FY25) and current ratio of 1.12 (1.08 in FY25). Return on equity improved to 13.88% from 12.65% in the previous year.
Operational Highlights and Business Update
The company maintains a strong unexecuted order book of ₹1,420.91 crore as of April 1, 2026, across multiple business verticals including slum rehabilitation, housing redevelopment, civic urban infrastructure (bus terminals, BRTS, parking), industrial parks, logistics, and healthcare infrastructure. The infrastructure business remains the single operating segment, with four customers contributing over 10% of total revenue amounting to ₹31,576.51 lakh in FY26.
Significant Events: Income Tax Resolution
Subsequent to the reporting period, the company received favorable appellate orders dated April 20 and 24, 2026, resolving multiple income tax demands arising from a search operation conducted in September 2021. The orders deleted demands for Assessment Years 2014-15, 2016-17, 2017-18 and 2019-20 to 2022-23, while restricting the addition to ₹33.23 lakh for AY 2018-19 on substantive basis. Management believes this resolution will not have material adverse financial impact based on legal advice.
Corporate Governance and Compliance
The company confirmed compliance with all applicable laws including Companies Act, 2013 and SEBI Listing Regulations. The board composition includes 6 directors (1 Executive, 2 Non-Executive, 3 Independent Directors including 1 woman director). All statutory audits received unqualified opinions, and CSR expenditure of ₹20.91 lakh exceeded the mandated requirement. The 36th AGM is scheduled for July 31, 2026, to be held virtually.
Credit Ratings and Subsidiaries
Brickwork Ratings upgraded the company to BBB+ Stable/A2, while Infomerics Valuation & Rating reaffirmed IVR BBB Stable/IVR A3+. The company has one subsidiary (Nila Terminals (Amreli) Private Limited) and several joint ventures/associates including Vyapnila Terminals (Modasa) Private Limited (34% share), Kent Residential and Industrial Park LLP (50% share), and Romanovia Industrial Park Private Limited (50% share).
Risk Factors and Forward Outlook
Key risks identified include pandemic impacts, interest rate fluctuations, credit risks, liquidity risks, competitor pressures, economic downturns, execution risks, input cost fluctuations, and supply chain disruptions. The management remains optimistic about growth opportunities in affordable housing and urban infrastructure sectors in Gujarat, aiming to leverage its strong order book and execution capabilities for sustainable growth.