Bondada Engineering first-half profit rises 18% to Rs 111.40 crore

Bondada Engineering Limited reported consolidated profit after tax of Rs 111.3976 crore for the half year ended 30 September 2026, 18% above Rs 94.0333 crore a year earlier, as revenue from operations rose 16% to Rs 1,415.3645 crore and EPC contributed Rs 1,232.9765 crore.

How did Bondada Engineering's first-half financial results change?

Bondada Engineering increased revenue, profit before tax and profit after tax in the six months ended 30 September 2026. Revenue from operations rose by Rs 198.6923 crore from Rs 1,216.6722 crore in the half year ended 30 September 2025, while total income, including other income, increased to Rs 1,427.0392 crore from Rs 1,217.9955 crore.

Profit before tax rose by Rs 23.7182 crore to Rs 148.3719 crore from Rs 124.6537 crore. Tax expense increased to Rs 36.9743 crore from Rs 30.6204 crore, resulting in profit after tax of Rs 111.3976 crore. Equity shareholders of the parent received Rs 108.8530 crore of the result, while non-controlling interests accounted for Rs 2.5446 crore.

Profit after tax rose about 18%, compared with revenue growth of about 16%, based on the reported half-year figures. Total expenses increased by Rs 185.3255 crore, less than the Rs 209.0437 crore increase in total income; finance costs rose to Rs 20.5407 crore from Rs 17.5129 crore and depreciation and amortisation increased to Rs 4.9813 crore from Rs 4.5867 crore.

Which segments drove Bondada Engineering's revenue growth?

Bondada Engineering's engineering, procurement and construction, or EPC, segment drove first-half revenue growth, reporting Rs 1,232.9765 crore for the six months ended 30 September 2026. This was Rs 176.1747 crore above the Rs 1,056.8018 crore reported in the corresponding prior-year period and represented about 89% of the Rs 198.6923 crore increase in group revenue.

Services revenue reached Rs 87.1134 crore, up from Rs 68.4040 crore, while products revenue was Rs 95.2746 crore against Rs 91.4664 crore. Services therefore grew about 27% from a smaller base, ahead of EPC's roughly 17% growth rate, whereas products increased by about 4%; EPC remained the largest reported business line.

All three operating segments recorded higher segment results. EPC segment result rose to Rs 139.6737 crore from Rs 123.4603 crore, services increased to Rs 9.4754 crore from Rs 7.4124 crore, and products reached Rs 8.0888 crore from Rs 7.5749 crore. Combined segment results were Rs 157.2379 crore before Rs 20.5407 crore of finance costs and Rs 11.6747 crore of other unallocable income.

What did Bondada Engineering report for the September quarter?

Bondada Engineering reported consolidated profit after tax of Rs 57.4602 crore for the quarter ended 30 September 2026, compared with Rs 53.9374 crore in the preceding June 2026 quarter and Rs 52.3232 crore in the September 2025 quarter. Revenue from operations was Rs 728.1390 crore, versus Rs 691.6547 crore in June and Rs 660.7693 crore a year earlier.

September-quarter profit before tax was Rs 75.6657 crore, up from Rs 72.7062 crore in the preceding quarter and Rs 67.3529 crore a year earlier. Finance costs were Rs 10.5564 crore, compared with Rs 9.9843 crore in June 2026 and Rs 9.5022 crore in September 2025. Other income of Rs 4.4292 crore was below Rs 7.2455 crore in June but above Rs 1.9263 crore a year earlier.

EPC revenue was Rs 632.7296 crore in the September quarter, compared with Rs 600.2469 crore in June 2026 and Rs 578.6296 crore in September 2025. Services revenue declined sequentially to Rs 36.8987 crore from Rs 50.2146 crore, but exceeded Rs 32.0121 crore a year earlier. Products revenue increased to Rs 54.0815 crore from Rs 41.1932 crore in June and Rs 48.2013 crore in the prior-year quarter.

How did Bondada Engineering's cash flow and balance sheet move?

Bondada Engineering used Rs 118.6650 crore in operating activities during the half year ended 30 September 2026, compared with an operating cash outflow of Rs 42.8786 crore a year earlier. Trade receivables increased by Rs 243.8832 crore, compared with a Rs 175.4249 crore increase in the prior-year half, while trade payables decreased by Rs 94.5434 crore after increasing by Rs 159.0455 crore in the comparable period.

Cash used in investing activities was Rs 146.9429 crore, compared with cash generated of Rs 9.0806 crore in the corresponding 2025 half year. The 2026 investing outflow included Rs 84.8124 crore for capital work-in-progress and advances for capital assets, Rs 30.7632 crore for property, plant and equipment, and Rs 34.9888 crore for bank deposits or margin money.

Financing activities generated Rs 222.9643 crore, compared with Rs 62.1139 crore a year earlier, including Rs 251.0289 crore of borrowing proceeds. Cash and cash equivalents were Rs 124.1133 crore at 30 September 2026, down from Rs 166.7570 crore at the start of the period but above Rs 43.2160 crore at 30 September 2025. Total assets rose to Rs 2,471.3794 crore from Rs 2,041.6190 crore at 31 March 2026, while total liabilities increased to Rs 1,630.5658 crore from Rs 1,309.0954 crore.

Conclusion

Bondada Engineering's first-half result combined a Rs 198.6923 crore rise in revenue with a Rs 17.3643 crore rise in consolidated profit after tax. EPC provided the majority of the increase, with revenue rising to Rs 1,232.9765 crore, while services recorded the faster percentage expansion to Rs 87.1134 crore from Rs 68.4040 crore.

The next reported period will show whether the Rs 243.8832 crore increase in trade receivables and Rs 118.6650 crore operating cash outflow change as projects progress. The 30 September 2026 statement also recorded Rs 146.9429 crore of investing cash use, including capital work-in-progress spending, and Rs 251.0289 crore of borrowing proceeds, making cash conversion, capital expenditure and finance costs items to watch.