SRM Contractors Limited has released the transcript of its inaugural Q2 and H1 FY26 Earnings Conference Call, held on November 14, 2025. Key highlights include: * Financial Performance: * Q2 FY26 Revenue reached ₹192 crore, with an EBITDA of ₹29 crore (15.49% margin) and PAT of ₹19 crore (10.15% margin). This compares to ₹8 crore PAT (9.34% margin) in Q2 FY25. * H1 FY26 Revenue was ₹335 crore, with an EBITDA of ₹51 crore (15.48% margin) and PAT of ₹33 crore (19.71% margin), up from ₹13 crore (9.34% margin) in H1 FY25. * Order Book and Pipeline: As of September 2025, the order book stood at ₹1,552 crore, including ₹999 crore from roads and bridges, ₹142 crore from tunnels, and ₹411 crore from slopes. The company achieved an order inflow of ₹174 crore in H1 FY26, with a robust FY26 pipeline of ₹3,668 crore. * New Projects: Secured a ₹24.83 crore slope stabilization project for the Balipara-Tawang road in Arunachal Pradesh, expected to complete by February 2027. Also won a ₹38.98 crore landslide treatment order on NH7 in Uttarakhand and a major ₹110 crore 1,000 MW pumped storage project in Maharashtra, also expected to complete by February 2027. * Strategic Expansion: The company plans ₹70 crore capex in FY26 (₹48 crore already done in H1). It acquired a 51% stake in Maccaferri Infrastructure Private Limited (MIPL), with MIPL's results to be consolidated from Q3 FY26, projecting ₹350-₹450 crore revenue for FY26. SRM is diversifying into Hybrid Annuity Model (HAM) projects and exploring international markets in GCC and Africa. * Leadership & Outlook: Dr. Sanjay Mehta will lead international growth as Non-Executive Director, while Mr. Puneet Pal Singh will focus on domestic expansion as Managing Director. Management guided for consolidated FY26 revenue of ₹1,100-₹1,200 crore with EBITDA margins in the 18-20% range and PAT margins of 10-12%. For FY27, consolidated revenue is projected at ₹2,000-₹2,200 crore, with maintained margins. The company plans to raise approximately ₹110 crore via QIP for domestic projects.
