Q2 Revenue & Margin Contraction
Sequential decline in Q2 revenue and EBITDA margin (17.5% vs 24.4% YoY) due to project completion timing; new large projects in early engineering phase.
RAMKY / bear-case history
Track the concerns that keep returning.
Ramky Infrastructure · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Srinagar-Banihal Road Arbitration Uncertainty
Arbitration ongoing for road claims; management declined to disclose claim amount citing court sensitivity; outcome expected next year with 'sizable' potential recovery.
Farm City Asset Attachment
240 acres of 2,500-acre Farm City project remains attached by ED; High Court stay on attachment; asset cannot be sold until release, limiting monetization options.
Large Project Execution Risk
Concentration in few large projects (Hyderabad water 2,885 crore, building 2,000 crore) creates execution risk; delays or cost overruns could disproportionately impact financials.