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EFFWAINFRARESEARCH Infrastructure 30 Jun 2026

Effwa Infra & Research Ltd — Q4 FY26

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).

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Revenue ₹253 Cr +36.8%
EBITDA ₹42 Cr +40.3%
PAT ₹29 Cr +42.3%
EBITDA Margin 15.6% +40bps
Duration 63 min
Read Time 1 min read

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2-Minute Summary

✦ AI-Generated from Full Transcript

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.

Risks4 trackedTranscriptfull text
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Focused Modules

Claim Ledger 72% answered

Did management answer the analysts?

12 analyst questions audited, 2 evaded or deflected.

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!Risks 4 risks

Risk Intelligence

Execution delays due to geopolitical tensions

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Quarter Snapshot

Order Book 750 cr
+50% YoY

Order book remains at 750 cr as of March 2026, with additional 250 cr expected to be formalized soon.

Order Pipeline 2,600 cr
N/A

Pipeline of bids and proposals exceeds 2,600 cr, indicating strong future revenue potential.

Employee Count 145
+10-15% expected FY27

Current workforce of 145, with 75% engineers; planned 10-15% hiring in FY27 to support growth.

Export Revenue Share 12.8%
+9.8pp YoY

Export contribution increased to 12.8% of full-year revenue, up from 3% in H2, reflecting international expansion.

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Guidance and risk preview

Top guidance Revenue growth 35-40% in FY27

Management expects revenue to grow 35-40% in FY27, implying around 350 cr, driven by strong order book and pipeline.

Top risk Execution delays due to geopolitical tensions

Management cited war-related material supply issues and labor shortages causing dispatch delays in Q4, which could persist.

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