* SPML Infra held an earnings conference call on 14 Nov 25 to discuss Q2 and H1 FY26 financial results. * Manoj Digga, Director Commercials & CFO, mentioned a strong order inflow and strategic progress in water, power infrastructure, and energy storage. * The company focuses on profitable growth and selective bidding, with a disciplined approach to maintain healthy margins. * A pipeline of ₹17 lakh crore in water infrastructure projects has been identified across major schemes. * India’s BESS market is projected to reach 236 GWh by 2031 –32 (~USD 57 billion [₹4.75 lakh crore]). * SPML expects approximately ₹25,000 crore of tenders in the current financial year, including over ₹5,000 crore of BESS tenders. * H1 FY ’26 saw new projects totaling over ₹3,772 crore across Jharkhand, Madhya Pradesh, Rajasthan, and Tamil Nadu. * The company is in L1 position in tenders worth around ₹1,125 crore, expected to be awarded in the current financial year. * The existing order book is around ₹1,600 crore. * Sanctioned bank facilities have been enhanced from ₹205 crore to ₹505 crore. * The remaining debt of ₹400 crore owed to NARCL is expected to be paid through arbitration awards of ₹647 crore (including interest up to October 2025). * The 2.5 GWh Phase I BESS facility at Pune MIDC is targeted for commissioning by Q1 FY ’27, with Phase II to follow by FY ’28. * Standalone revenue for H1 FY ’26 stood at ₹363 crore, EBITDA at ₹35 crore, and PAT at ₹27 crore. * EBITDA and PAT margins improved to 9.8% and 7.6%, respectively. * For Q2 FY’26, revenue stood at ₹199 crore, EBITDA at ₹20 crore, and PAT at ₹15 crore. * Samir Patel mentioned that the company is on track to set up the BESS infrastructure by Q1 FY’27 and will be ready with the first product by the end of Q1 FY’27.
