Enviro Infra Engineers Releases Q4 & FY26 Earnings Call Transcript
Enviro Infra Engineers Limited's Q4 & FY26 earnings call transcript reveals an order book surge to over ₹6,814 crore. For FY26, revenue was ₹114.56 crore, with PAT at ₹18.84 crore. The company targets FY27 revenue of ₹2,000 crore, split between water/wastewater and renewables. BESS EPC margins are expected around 10%. Working capital cycle is 166 days, with efforts to reduce it.
The transcript provides detailed operational and financial updates, including future guidance and explanations for past performance. This information is material for investors assessing the company's strategy, order book health, and profitability outlook across its diversified business segments.
The announcement is a transcript of a conference call, which is primarily informative. While it discusses financial performance and future outlook, it also addresses challenges such as missing previous revenue guidance and margin pressures, balancing positive updates with areas of concern.
Enviro Infra Engineers Limited (EIEL) has released the transcript of its conference call for analysts and investors held on May 29, 2026, to discuss its Q4 and full-year FY26 financial performance and business updates. The call featured insights from Chairman and Whole-time Director Mr. Sanjay Jain and Managing Director Mr. Manish Jain.
Mr. Sanjay Jain highlighted FY26 as a significant year for EIEL, marked by strengthening its position in water and wastewater infrastructure while diversifying into renewable energy. The company completed key projects, enhanced wastewater treatment capabilities, and integrated waste-to-energy initiatives. EIEL also saw a meaningful improvement in its order book, despite longer finalization timelines. The diversification into renewables included strategic steps in solar, wind, and Battery Energy Storage Systems (BESS), highlighted by the acquisition of Suyog Urja Limited. The company has also strengthened its leadership with dedicated business heads and a renewable energy team of over 250 professionals.
Mr. Manish Jain provided details on the order book, which surged to over ₹6,814 crores, offering robust revenue visibility for the next 24 months. This includes ₹2,733 crores for water and wastewater execution, ₹951 crores for O&M in this segment, ₹2,051 crores for renewable execution, and ₹1,079 crores for renewable O&M and IPP. Recent order book additions include a ₹348 crore project from BUIDCO and sanitation projects worth ₹824 crores in Pune and Nashik. EIEL also secured 930 MWh of BESS EPC projects from NTPC, valued at approximately ₹1,070 crores, positioning it as a first mover in India's battery storage pipeline.
Financially, Q4 FY26 revenue stood at ₹427.3 million (₹42.73 crore) with 8.8% year-on-year growth, EBITDA at ₹79.9 million (₹7.99 crore) and PAT at ₹54.3 million (₹5.43 crore). For the full year FY26, revenue reached ₹1,145.6 million (₹114.56 crore), a 7.5% growth, with EBITDA at ₹276.8 million (₹27.68 crore) and PAT at ₹188.4 million (₹18.84 crore).
During the Q&A, management addressed concerns about missing revenue guidance for FY26, attributing it to elongated bid evaluation processes and project design stages. They clarified margin compression was due to project mix, including IPP projects with lower margins, and increased employee and other expenses, alongside a provision for expected credit loss and higher depreciation. The company aims for a FY27 topline of around ₹2,000 crore, with approximately ₹1,350 crore from water/wastewater and ₹650 crore from renewables, projecting a PAT margin of 13.5% to 14%. The BESS EPC business is expected to yield a PAT margin of around 10%, with a cautious approach to lithium-ion battery procurement due to price volatility. The company also discussed its debt levels, aiming to maintain a debt-to-equity ratio of 1:1, and efforts to normalize its working capital cycle from the current 166 days to around 90 days.
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