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Revenue
₹253.29 Cr
verification pending
Revenue YoY
36.8%
reported change
EBITDA
₹42.11 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Effwa Infra & Research reported a strong FY26 with revenue of 253.29 cr (+36.8% YoY), EBITDA of 42.11 cr (+40.3% YoY), and PAT of 28.62 cr (+42.3% YoY). Growth was driven by robust execution in ZLD-based effluent treatment for steel, oil & gas, and fertilizer clients, along with operational efficiencies. The order book stands at 750 cr with a pipeline of 2,600 cr, providing solid revenue visibility. Management guided 35-40% revenue growth for FY27, supported by a strong order book and expected conversion of 250 cr in won orders. A key risk is execution delays due to geopolitical tensions and client-side approvals, as seen in the JSW order slippage.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects revenue to grow 35-40% in FY27, implying around 350 cr, driven by strong order book and pipeline.
- Additional 250 cr of orders already won but not yet formalized; expected to be added to order book within 2-3 months.
- Patent expected in 12-14 months; commercial launch planned for July 2027 with a client under NDA.
- Company plans to migrate from SME to main board upon completing 3 years of listing in July 2027.
Risks flagged
- Management cited war-related material supply issues and labor shortages causing dispatch delays in Q4, which could persist.
- Analyst noted that JSW order was delayed due to client's internal SOP and government approvals, impacting revenue timing.
- Order book concentrated with JSW (313 cr) and other large PSUs; loss of any key client could impact revenue.
- ZMD patent process is lengthy and commercial adoption depends on client acceptance; any delay could affect margin expansion plans.
Key quotes
- We are the only one providing such kind of solution to the customer. So definitely looking at a bigger margin over there.
- We don't see it as a very big exciting opportunity. It's only because we had to address for our stakeholders.
- We are very asset-light company. Even today also we don't do any assets.
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