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.
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).
Financial stats pending filing verification
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.
Key Numbers
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.
Management 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.
Management guidance revenueOrder book to reach 1,000 cr in 2-3 months
Additional 250 cr of orders already won but not yet formalized; expected to be added to order book within 2-3 months.
Management guidance growthZero Material Discharge patent and commercial launch by July 2027
Patent expected in 12-14 months; commercial launch planned for July 2027 with a client under NDA.
Management guidance ai_strategyMain board migration in July 2027
Company plans to migrate from SME to main board upon completing 3 years of listing in July 2027.
Management guidance expansionKey Risks
Execution delays due to geopolitical tensions
Management cited war-related material supply issues and labor shortages causing dispatch delays in Q4, which could persist.
medium · management_commentaryClient approval delays for order conversion
Analyst noted that JSW order was delayed due to client's internal SOP and government approvals, impacting revenue timing.
medium · analyst_questionDependence on few large clients
Order book concentrated with JSW (313 cr) and other large PSUs; loss of any key client could impact revenue.
high · data_observationPatent and ZMD technology adoption risk
ZMD patent process is lengthy and commercial adoption depends on client acceptance; any delay could affect margin expansion plans.
medium · management_commentaryNotable 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.
Frequently Asked Questions
What was Effwa Infra &'s revenue in Q4 FY26?
Effwa Infra & reported revenue of ₹253 Cr in Q4 FY26, representing a +36.8% change compared to the same quarter last year.
What guidance did Effwa Infra & management give for FY27?
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. Order book to reach 1,000 cr in 2-3 months: Additional 250 cr of orders already won but not yet formalized; expected to be added to order book within 2-3 months. Zero Material Discharge patent and commercial launch by July 2027: Patent expected in 12-14 months; commercial launch planned for July 2027 with a client under NDA. Main board migration in July 2027: Company plans to migrate from SME to main board upon completing 3 years of listing in July 2027.
What are the key risks for Effwa Infra & in FY27?
Key risks include Execution delays due to geopolitical tensions — Management cited war-related material supply issues and labor shortages causing dispatch delays in Q4, which could persist.; Client approval delays for order conversion — Analyst noted that JSW order was delayed due to client's internal SOP and government approvals, impacting revenue timing.; Dependence on few large clients — Order book concentrated with JSW (313 cr) and other large PSUs; loss of any key client could impact revenue.; Patent and ZMD technology adoption risk — ZMD patent process is lengthy and commercial adoption depends on client acceptance; any delay could affect margin expansion plans..
Did Effwa Infra & meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Effwa Infra & Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.