SPML Infra Ltd

SPML Infra Limited reported Q1 FY27 results with revenue of INR286 crores, up 74% YoY, and EBITDA of INR28 crores, up 81% YoY. The company's order book stands at INR5,100 crores, with INR1,251 crores related to legacy projects and the rest carrying margins of 10% or higher. Strategic progress includes a 2.5 gigawatt battery energy storage system (BESS) manufacturing facility in Pune, with plans to scale to 5 gigawatts by FY2028. The company expects BESS revenue of INR200-300 crores in FY27, pending NTPC approvals. Water and power projects account for 80% of the order book, with key projects including the Wainganga-Nalganga river link and Marathwada Water Grid. Financial improvements include a debt-to-equity ratio of 0.4x and a long-term credit rating of BBB (Stable) from ICRA and CRISIL. Management guided toward revenue growth of over 25% YoY and profitability improvements, with no significant constraints identified. The company emphasized disciplined bidding, balance sheet strengthening, and strategic investments in emerging segments.

The document highlights strong revenue and EBITDA growth, improved order book quality, strategic advancements in BESS manufacturing, and positive financial metrics, indicating a positive tone.