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DENTAWATERANDINFRASOLUTI Infrastructure 12 Feb 2026

Denta Water and Infra Solutions Ltd — Q3 FY26

Denta Water reported a mixed Q3 FY26 with 9M revenue of ₹195.07 crore (+30.8% YoY) and EBITDA of ₹70.85 crore (+34% YoY), but Q3 standalone revenue was flat at ₹53.52 crore, missing the earlier guidance of ₹300 crore for FY26.

bearish high
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Revenue ₹54 Cr +30.8%
EBITDA ₹71 Cr +34.02%
PAT ₹14 Cr
EBITDA Margin 32.68%
Duration 42 min
Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

Denta Water reported a mixed Q3 FY26 with 9M revenue of ₹195.07 crore (+30.8% YoY) and EBITDA of ₹70.85 crore (+34% YoY), but Q3 standalone revenue was flat at ₹53.52 crore, missing the earlier guidance of ₹300 crore for FY26. Management attributed the slowdown to project milestone timing and monsoon-related delays in Karnataka. The order book stands at ₹841 crore, providing 2-2.5 years of visibility. Guidance for FY27 is 30% revenue growth, down from earlier expectations. Key risks include continued execution delays, elevated working capital (90-120 day cycle), and failure to convert the ₹400 crore Karnataka mining rehabilitation orders. The company remains debt-free but faces credibility challenges after missing guidance.

Risks4 trackedTranscriptfull text
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Focused Modules

Claim Ledger 46% answered

Did management answer the analysts?

12 analyst questions audited, 5 evaded or deflected.

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!Risks 4 risks

Risk Intelligence

Execution delays due to monsoon and government billing cycles

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Quarter Snapshot

Order Book ₹841 Cr
+12% YoY

Order book as of Dec 31, 2025, up from ~₹750 Cr a year ago.

New Orders in Q3 ₹160 Cr
N/A

Bagged 5 STP orders and 1 water supply project in Q3.

Working Capital Cycle 90-120 days
N/A

Management expects improvement in Q4 but remains elevated.

Bid Capacity (Individual) ₹150-200 Cr
N/A

Maximum project size the company can execute independently.

Fast read

Guidance and risk preview

Top guidance FY27 revenue growth of 30%

Management expects 30% revenue growth in FY27 compared to FY26, driven by healthy order book.

Top risk Execution delays due to monsoon and government billing cycles

Q3 revenue was flat due to monsoon and delayed billing; similar seasonal risks persist.

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