Contract Manufacturing Revenue Growth
169%
+169% YoY
Contract manufacturing revenues grew 169% YoY in Q4, contributing 47% of FY26 revenue.
ARISINFRASOLUTIONS
Infrastructure
15 May 2026
Arisinfra Solutions Ltd — Q4 FY26
Arisinfra delivered a strong Q4 FY26 with revenue of ₹343 Cr (+55% YoY) and EBITDA of ₹31 Cr (+202% YoY), driven by contract manufacturing scaling 169% YoY and services (DAS) growing 264% YoY.
✓ Verified against BSE filing
2-Min Summary
Arisinfra delivered a strong Q4 FY26 with revenue of ₹343 Cr (+55% YoY) and EBITDA of ₹31 Cr (+202% YoY), driven by contract manufacturing scaling 169% YoY and services (DAS) growing 264% YoY. EBITDA margin expanded 431 bps to 8.8%, aided by operating leverage and mix shift. PAT turned positive at ₹22 Cr vs a loss last year. Management guided for 35-40% revenue growth in FY27, with EBITDA margins sustaining ~10-10.5%. Key risks include potential slowdown in infrastructure spending and working capital pressure from rapid scaling.
Key Numbers
Volumes Delivered (Contract Manufacturing)
11.29 lakh MT
+91% YoY
Volumes in contract manufacturing increased 91% YoY to 11.29 lakh metric tons in Q4.
Capacity Utilization (Contract Manufacturing)
50%
+11pp YoY
Capacity utilization improved to 50% from 39% in Q4 last year, with target of 75-80% in FY27.
Asphalt Revenue (New Category)
₹30 Cr
+88% QoQ
Asphalt revenues grew 88% sequentially to ₹30 Cr, with active customers nearly doubling to 28.
Management Guidance
Revenue growth of 35-40% in FY27
Management expects revenue to grow 35-40% in FY27, consistent with the 40% growth achieved in FY26.
revenueEBITDA margin to sustain ~10-10.5%
Management guided for EBITDA margins to remain around 10-10.5% in FY27, with potential improvement from mix shift.
marginsContract manufacturing capacity utilization target of 75-80% in FY27
Management aims to reach peak utilization of 75-80% in FY27 on the current asset base, up from 50% in Q4 FY26.
growthAdditional capacity deposits of ₹25-50 Cr in FY27
Management plans to invest another ₹25-50 Cr in capacity deposits during FY27 to secure multi-year contracts.
capexKey Risks
Slowdown in infrastructure spending
A potential slowdown in government or private infrastructure spending could impact demand for construction materials and services.
medium · data_observationWorking capital pressure from rapid scaling
Rapid revenue growth may strain working capital if receivables and inventory outpace payables, despite current improvement.
medium · analyst_questionExecution risk in new categories like asphalt
Asphalt is a new, execution-heavy category; any operational missteps could affect margins and customer trust.
low · management_commentaryCompetition from larger players or new entrants
Large groups or existing players could replicate the model, though management believes their tech and relationships provide a moat.
medium · analyst_questionNotable Quotes
We will be looking to target about 55 to 60% contribution for contract manufacturing and services.
Our aim is in Q1 we should be able to predict around 85 to 90% of our top line and similarly of the bottom line as well.
We have turned the cash flow from operating activity positive this year and it's about 140 crores.