Arisinfra Solutions Limited — Q3 FY26
Arisinfra delivered a standout Q3 FY26 with revenue surging 49% YoY to ₹270 crore, driven by a structural shift toward higher-margin contract manufacturing (48% of revenue, up f...
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
92%Questions answered1Evaded / deflected12Questions auditedMixedNumbers vs filing
Answered
High priority
How should we view the revenue mix going ahead?
Asked by Deepak Bodar, Safire Capital
Management gave specific current mix and directional outlook.
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Question
now it's 47% B2B 44% contract and 9% is services... how should one look at this mix going ahead?
Management (unidentified)
the contract manufacturing segment now contributes to 48% of the revenue... we expect that as the utilization improves going further the revenue contribution will increase
Answered
High priority
Is the ~11% EBITDA margin sustainable?
Asked by Deepak Bodar, Safire Capital
Management confirmed sustainability with structural reasoning.
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Question
without other income your AITA margin is close to 11%... is that a sustainable thing that we should keep as a base going forward?
Management (unidentified)
Yes. We do believe so because the improvement is structural... margins are improving due to mix and execution not temporary pricing or one-offs.
Evasive
Medium priority
What levers can drive EBITDA margin beyond 11%?
Asked by Deepak Bodar, Safire Capital
Management did not quantify potential upside or specific levers.
no specific levers givenvague on upside
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Question
is there any levers which can drive this 11% even further higher?
Management (unidentified)
at the moment we are happy with how the model is turning out... the focus is going to be on improving this mix focusing on capital efficiency
Answered
High priority
Are you on track for 40% YoY growth guidance?
Asked by Deepak Bodar, Safire Capital
Management confirmed guidance explicitly.
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Question
we have seen very good growth... 39% for second quarter and 49% in this third quarter... so we are on track for that.
Management (unidentified)
Yes we are absolutely on track for the guidance that we have given which is 40% year-on-year growth.
Answered
Medium priority
What is the traction and visibility for Q4?
Asked by Deepak Bodar, Safire Capital
Management gave positive outlook with visibility timeframe.
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Question
we are going into the strongest quarter... how's that traction? Can you throw some light?
Management (unidentified)
quarter 4 is usually the strongest... we have real good visibility on the demand not just this quarter but for the next three to four quarters
Answered
Medium priority
How are you expanding supply-side contracts with mills?
Asked by Deepak Bodar, Safire Capital
Management provided capacity number and new vertical.
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Question
on the supply side... in terms of getting more mills and all to contract with you guys?
Management (unidentified)
we currently have about 9 million metric tons of capacity... recently we also made an announcement of entering a new segment which is called asphalt
Answered
High priority
What is the potential revenue opportunity from asphalt?
Asked by Deepak Bodar, Safire Capital
Management gave a specific revenue projection range.
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Question
what can be the potential of this asphalt opportunity size for us?
Management (unidentified)
we are projecting revenue in the north of 80 to 100 crores in the next 12 to 18 months.
Answered
Medium priority
Are asphalt margins in line with company margins?
Asked by Deepak Bodar, Safire Capital
Management confirmed margin parity.
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Question
margins are in line with the company level margins or is it better?
Management (unidentified)
it will be in line with the company level margins and that is why we are confident of sustaining these margins
Answered
High priority
What are current receivables and borrowings?
Asked by Koshal Sharma, Equinox Capital
Management provided specific numbers.
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Question
what is the current receivables as on date in our books and how much is for more than 6 months... what about our drawings?
Management (unidentified)
the current receivable number is approximately 385 crores and above 6 months the number is close to about 50 to 55 crores... current borrowings are in the range of around 40 crores
Answered
High priority
How will you fund incremental working capital for growth?
Asked by Koshal Sharma, Equinox Capital
Management explained recycling of capital and cash buffer.
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Question
we have utilized almost 100% of our working capital that we have raised through IPO... how would we source these incremental working capital going ahead?
Management (unidentified)
this is not locked up capital... it's back in the system... we have a healthy cash balance of more than 150 crores... we still have around 30 to 40% room to grow in the existing deposits itself
Answered
Medium priority
What is current contract manufacturing capacity and utilization?
Asked by Koshal Sharma, Equinox Capital
Management gave capacity and utilization numbers.
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Question
what is our current existing contact manufacturing capacity and what is our target in terms of securing further and utilization?
Management (unidentified)
the current capacity is about 9 million metric tons... as of quarter 3 now, we are at a utilization of 55% plus.
Answered
Medium priority
What is the status of the 55 cr receivables above 6 months?
Asked by Kapil Auja, Equinox Capital
Management provided percentage and reduction target.
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Question
you told that you have rece 55 cr above 6 months... what is the status of the 55 cr receivables because 6 months is a bit template?
Management (unidentified)
the six month receivables as a percent of total revenue close to total receivables is just about 12 to 14%... we expect this number to come down to about 30 to 35 crores by March
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| EBITDA margin close to 11% this quarter | 11% | 11% | Matches filing |
| Revenue growth 49% in Q3 | 49% | 49.17% | Matches filing |
| Guidance of 40% YoY growth | 40% | 49.17% | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.