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) gr...
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.
83%Questions answered1Evaded / deflected12Questions auditedContradictedNumbers vs filing
Answered
High priority
Target mix of contract manufacturing and services in FY27
Asked by Dasha, Safire Capital
Management gave specific percentage targets for both segments.
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Question
how do you see the overall mix evolving in FY27? What sort of percentage share are we targeting for contract manufacturing and the services segment?
Management (not named)
we will be looking to target about 55 to 60% contribution for on contract manufacturing and services I think somewhere around 9 to 10% that we have uh you know really maintained historically as well.
Evasive
High priority
Can we target 100 cr PAT for FY27?
Asked by Dasha, Safire Capital
Management declined to give a PAT target, instead discussing growth drivers.
no number givenreframed to qualitative factors
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Question
if suppose if we were to take that mix so can we target and assuming 40% sort of growth can we target 100 cr for FR27?
Management (not named)
Well, it'll be it'll be hard to actually put down a number to it, but historically, you know, I mean, in the last year itself, we've grown 10x in in terms of PAT.
Answered
Medium priority
Reason for sharp increase in other expenses and gross margin impact
Asked by Dasha, Safire Capital
Management explained the increase was due to a one-time expected credit loss of 5 crores.
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Question
we've seen a sharp increase in other expenses in the fourth quarter and gross margin I think also were affected a bit could you please elaborate a bit more on why do you see that the sharp increase in other expenses?
Management (not named)
Yes so that is uh mainly due to the expected credit loss that we have taken. Usually we like to do that uh at the end of the year. Uh we have taken an additional expected credit loss of about 5 crores.
Answered
Medium priority
Seasonality impact on business
Asked by Dishall Zaviri, Crown Capital
Management explained H1 slower, H2 higher due to strategy, not seasonality.
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Question
in terms of seasonality like is H1 and H2 similar for us or because of monsoons how does that impact s our seasonality sir?
Management (not named)
H1 usually is uh a little slower. H2 is higher but that is more of a strategic move. That is how we would like to operate as well.
Answered
High priority
Revenue and EBITDA guidance for FY27
Asked by Dishall Zaviri, Crown Capital
Management gave a revenue growth guidance range of 35-40%.
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Question
in terms of like our FY27 you know target in terms of revenue and ITA do we have any guidance for that sir?
Management (not named)
we grew about 40% last year in terms of revenue uh and we have uh historically mentioned that we will be looking for a 40% growth for the next two years. So yes we uh the projected revenue growth is about 35 to 40%.
Answered
High priority
Expected EBITDA margin run rate
Asked by Dishall Zaviri, Crown Capital
Management stated 10-10.5% EBITDA margin is the sweet spot.
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Question
Q1 also margins will be uh will be steady state right like our 11% margin is something that we can normally expect from you all around the year right?
Management (not named)
we won't maintain an aid of around 10 10.5% uh that is our sweet spot and we'll keep a consistently growth growth and numbers in there
Answered
High priority
Revenue potential from current contract manufacturing asset base
Asked by Nav Sha, GC Holdings
Management gave a specific annual revenue range of 700-800 crores from current asset base.
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Question
the 500 cr of contract manufacturing revenue that we did in FI26 on a 9 million ton of capacity contracted uh it can go to what I mean on the just this current tires yes you give a five year six year cumulative number but I just want an annual number that can be maxed out on this
Management (not named)
we will be looking to uh reach a peak utilization of more than 75 to 80% in this financial year itself and ... it can be 700 crores, 800 crores on the current asset base
Answered
Medium priority
Plans for trade vendor deposits in FY27
Asked by Nav Sha, GC Holdings
Management gave a range of 25-50 crores for additional deposits.
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Question
how much uh uh vendor deposits are we targeting to uh make an FI27?
Management (not named)
we will look to maybe invest another 25 to 50 crores this year also.
Partial answer
Medium priority
Outstanding overdue receivables and recovery outlook
Asked by Nav Sha, GC Holdings
Management gave the outstanding amount but did not commit to complete recovery.
no specific recovery timelinevague 'significant amount'
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Question
what is the outstanding balance and will we see complete recovery in FI27?
Management (not named)
the 180 plus number the stock receivables now are in the range of about 40 42 crores and we expect a significant amount of recovery uh in this financial year.
Answered
High priority
Reasons for working capital days improvement and sustainability
Asked by Sha, Manas
Management explained the improvement and confirmed sustainability.
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Question
we have seen a very good improvement in that. So, could you just uh highlight the reasons and is this number sustainable going forward.
Management (not named)
we started with about uh 120 days at the time of our DR, we are sitting at about 66 days today. ... we believe that while we grow forward in the next few quarters uh we'll be able to at minimum sustain this number and definitely look to improve as well.
Answered
Medium priority
Operating cash flow to PAT ratio outlook
Asked by Anku, Jan Capital
Management gave current ratio and a target for next year.
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Question
Can you give us some color on your OCF to PAT ratio that you guys think you can achieve in next this financial year and next financial year?
Management (not named)
at currently we are at about uh 1 is to two uh somewhere around that and uh I think the next year we will be looking to be somewhere around 1 is to 1.5 maybe
Partial answer
High priority
Will EBITDA growth outpace revenue growth due to operating leverage?
Asked by Puddle, Pinpoint X Capital
Management said margins will improve but did not directly confirm EBITDA growth exceeding revenue growth.
no explicit confirmation of EBITDA growth > revenue growth
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Question
being a platform business do you see any operating leverage coming and you've been talking about the fixed costs going down ... do we see the beta growth will be higher uh than the revenue growth in percentage terms?
Management (not named)
we will first sustain a 10 plus 10% plus margins and this we will look to uh you know improve that even further because we expect improvement from uh you know contribution improvement from uh contract manufacturing and services as well.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Revenue growth of about 40% last year | 40% | 55% | Understated vs filing |
| Projected revenue growth 35 to 40% | 37.5% | 55% | Understated vs filing |
| EBITDA margin sweet spot 10-10.5% | 10.25% | 8.8% | Overstated vs filing |
| Contract manufacturing revenue can be 700-800 cr on current asset base | ₹750 cr | ₹343 cr | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.