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View Claim Ledger →Denta Water and Infra Solutions Limited — Q4 FY26
Denta Water reported Q4 FY26 revenue from operations of ₹55.3 crore, a modest 2.2% YoY increase, while PAT stood at ₹6.9 crore.
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Denta Water reported Q4 FY26 revenue from operations of ₹55.3 crore, a modest 2.2% YoY increase, while PAT stood at ₹6.9 crore. Full-year revenue grew 23% YoY to ₹205.4 crore, driven by steady execution in water infrastructure projects. However, Q4 margins compressed sharply to ~19% due to a shift toward smaller, lower-margin projects and raw material cost inflation from petroleum-linked PVC/HDPE pipes. The order book stood at ₹727.8 crore as of March 2026, down from ₹841 crore in December 2025, partly due to delayed new tenders amid Karnataka's political transition. Management guided for ~20% revenue growth in FY27 and EBITDA margins of 25-30%, but acknowledged risks from government payment delays and input cost volatility. The new government's push for Jal Jeevan Mission and AMRUT projects offers a positive catalyst, though near-term margin recovery remains uncertain.
डेंटा वॉटर ने वित्त वर्ष 2026 की चौथी तिमाही में ₹55.3 करोड़ का कारोबार किया, जो पिछले साल से सिर्फ 2.2% ज्यादा है। मुनाफा ₹6.9 करोड़ रहा। पूरे साल का कारोबार 23% बढ़कर ₹205.4 करोड़ हो गया, जो पानी के बुनियादी ढांचे के कामों से आया। लेकिन चौथी तिमाही में मुनाफे की दर घटकर लगभग 19% रह गई, क्योंकि कंपनी ने छोटे और कम मुनाफे वाले प्रोजेक्ट लिए और पाइपों के कच्चे माल के दाम बढ़ गए। मार्च 2026 तक ऑर्डर बुक ₹727.8 करोड़ थी, जो दिसंबर 2025 के ₹841 करोड़ से कम है। इसकी वजह कर्नाटक में सरकार बदलने से नए टेंडर में देरी है। कंपनी को अगले साल 20% कारोबार बढ़ने और 25-30% मुनाफे की उम्मीद है, लेकिन सरकारी भुगतान में देरी और कच्चे माल के दाम बढ़ने का खतरा है। नई सरकार की जल जीवन मिशन और AMRUT योजनाओं से मदद मिल सकती है, लेकिन फिलहाल मुनाफा सुधरना मुश्किल है।
Promises0 met · 2 missedRisks3 trackedTranscriptfull text
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Raw material cost inflation
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Read Transcript →Quarter Snapshot
Order Book
₹727.8 crore
-13.5% QoQ
Outstanding order book as of March 31, 2026, across 38 projects, down from ₹841 crore in December 2025.
Projects Completed
40
N/A
Cumulative projects completed as of March 2026, indicating strong execution track record.
Bidding Pipeline
₹600 crore
N/A
Management is actively bidding for 5-6 tenders valued at approximately ₹600 crore.
Collection Period
45-60 days
N/A
Government payment cycle remains stable at 45-60 days from billing.
What Changed vs Last Quarter
NEW
EBITDA margin guidance of 25-30% for FY27
Management guided for EBITDA margins in the range of 25-30% for FY27, down from the 33% level seen in earlier quarters, due to a mix of project sizes.
NEW
New order wins expected in Q2-Q3 FY27
Management expects to announce new orders worth ₹600 crore from ongoing bids, with announcements likely in the coming quarters.
UPDATED
Revenue growth of ~20% in FY27
Management expects revenue from operations to grow by approximately 20% in FY27, driven by new order wins and execution of existing projects.
DROPPED
FY26 full-year revenue growth of 20-25%
Revised FY26 revenue growth guidance to 20-25% YoY, down from earlier 50%.
DROPPED
Long-term growth moderation to 15%
After 2-3 years, expects revenue growth to moderate to 15% due to base effect.
NEW RISK
Raw material cost inflation
PVC and HDPE pipe prices have increased due to petroleum product shortages from the Iran-US war, impacting margins. Management is negotiating with suppliers but cannot fully pass on costs.
NEW RISK
Government payment delays
Payments from government projects slowed in Q3-Q4 FY26 due to political transition. Management expects normalization from July-August 2026, but delays remain a risk.
NEW RISK
Order book decline and execution risk
Order book fell from ₹841 crore to ₹727.8 crore in Q4, partly unexplained. Management attributed it to project completions and inventory buildup, but the drop exceeds revenue recognized.
RISK GONE
Execution delays due to monsoon and government billing cycles
Q3 revenue was flat due to monsoon and delayed billing; similar seasonal risks persist.
RISK GONE
Elevated working capital and inventory
Working capital cycle of 90-120 days and high inventory (₹108 Cr) strain cash flows.
RISK GONE
Failure to convert ₹400 Cr Karnataka mining orders
Two large orders (₹400 Cr) are stuck in committee clearance; no timeline provided.
RISK GONE
Credibility risk from missed guidance
Management reduced FY26 revenue guidance from 50% to 20-25% growth, disappointing investors.
Fast read
Guidance and risk preview
Management expects revenue from operations to grow by approximately 20% in FY27, driven by new order wins and execution of existing projects.
PVC and HDPE pipe prices have increased due to petroleum product shortages from the Iran-US war, impacting margins.
View Risks →