Enviro Infra renewable revenue rises to Rs 99.59 crore

Enviro Infra Engineers Limited reported renewable-energy segment revenue of Rs 99.59 crore for the quarter ended September 30, 2026, compared with Rs 1.69 crore a year earlier. The renewable business contributed 27.4% of total segment revenue of Rs 363.71 crore and held segment assets of Rs 647.24 crore at the reporting date.

How much renewable revenue did Enviro Infra report in Q2?

Enviro Infra reported Rs 99.59 crore of renewable-energy segment revenue in the quarter ended September 30, 2026, up from Rs 1.69 crore in the quarter ended September 30, 2025. It was below the Rs 104.25 crore reported in the quarter ended June 30, 2026, while total segment revenue rose to Rs 363.71 crore from Rs 359.18 crore sequentially.

For the half year ended September 30, 2026, renewable-energy revenue was Rs 203.84 crore, against Rs 1.69 crore in the corresponding half year ended September 30, 2025. The segment covers engineering, procurement and construction, or EPC, of renewable projects, their operation and maintenance, or O&M, and generation and sale of power from assets operated under the Build-Own-Operate, or BOO, model.

The September-quarter renewable figure was Rs 97.90 crore higher year on year, whereas water-segment revenue increased by Rs 38.46 crore. The Board approved the unaudited standalone and consolidated results on November 5, 2026, after review by the Audit Committee; the statutory auditors issued an unmodified limited-review conclusion.

How did Enviro Infra's revenue mix change?

Enviro Infra's renewable-energy segment represented 27.4% of total segment revenue in the September 2026 quarter, calculated from Rs 99.59 crore of renewable revenue and Rs 363.71 crore of total segment revenue. In the September 2025 quarter, the equivalent proportion was 0.7%, based on Rs 1.69 crore against total segment revenue of Rs 227.35 crore.

Water remained the larger business by quarterly revenue, at Rs 264.12 crore in the September 2026 quarter, ahead of renewable energy's Rs 99.59 crore. The water segment covers turnkey infrastructure and EPC projects involving water treatment plants, sewage treatment plants, common effluent treatment plants, water-supply schemes and related water and wastewater work, including O&M.

The sequential movement was different across the two segments. Renewable revenue fell Rs 4.66 crore from Rs 104.25 crore in the June 2026 quarter, while water revenue increased Rs 9.18 crore from Rs 254.93 crore. Consequently, total segment revenue rose Rs 4.53 crore during the quarter despite the decline in renewable segment revenue from the preceding quarter.

For the half year ended September 30, 2026, water-segment revenue was Rs 519.11 crore and renewable-energy revenue was Rs 203.84 crore, taking total segment revenue to Rs 722.95 crore. In the comparable 2025 half year, water revenue was Rs 466.58 crore and renewable revenue was Rs 1.69 crore, for a total of Rs 468.27 crore.

How did Enviro Infra's renewable assets and results move?

Enviro Infra reported renewable-energy segment assets of Rs 647.24 crore as of September 30, 2026, up from Rs 529.30 crore as of June 30, 2026 and Rs 125.86 crore a year earlier. The business accounted for 23.1% of total segment assets of Rs 2,798.90 crore at September 30, 2026.

Renewable assets increased Rs 117.94 crore during the September quarter and Rs 521.38 crore from September 30, 2025. Water-segment assets, in contrast, declined to Rs 2,151.65 crore at September 30, 2026 from Rs 2,198.41 crore three months earlier, although they were above Rs 1,448.97 crore a year earlier.

The renewable-energy segment result was Rs 8.42 crore in the September 2026 quarter, higher than Rs 4.84 crore a year earlier but lower than Rs 13.03 crore in the June 2026 quarter. The water-segment result rose to Rs 56.21 crore from Rs 53.95 crore sequentially; the filing presents these segment results before Group-level finance cost, other income, exceptional items and tax.

What renewable transactions did Enviro Infra disclose?

Enviro Infra disclosed that EIE Renewables Private Limited, its wholly owned subsidiary, entered a share purchase and options agreement dated April 21, 2026 for a phased acquisition of PRA Bihar BESS Private Limited. The agreement provides for an initial 49% equity acquisition, with the remaining 51% to be acquired within 60 days from the commercial operation date of the Battery Energy Storage System, or BESS, project awarded to that company.

The filing says control and substantive voting rights in PRA Bihar BESS transferred to EIE Renewables from April 21, 2026, although legal transfer of the remaining shares is pending under the agreement. Enviro Infra treated the entity as a wholly owned subsidiary of EIE Renewables for preparing the financial statements from that effective date and completed the final fair-value determination of its identified assets and liabilities during the quarter.

Separately, EIE Renewables entered a share purchase agreement dated April 28, 2026 to acquire 51% of Suyog Urja Limited immediately and the remaining 49% at a future date under the agreement's terms. Enviro Infra said the contractual rights and obligations transferred control of Suyog Urja to EIE Renewables from April 28, 2026, with final fair values determined during the reporting period.

Suyog Urja had a customer advance of Rs 18.61 crore outstanding as of September 30, 2026 and had recognised Rs 9.23 crore of work-in-progress and current assets against it. Management said approved minutes of meeting set settlement and adjustment terms and it expected adjustment accordingly; the independent auditor drew attention to the matter without modifying its review conclusion.

Conclusion

Enviro Infra's September 2026 filing shows renewable energy becoming a larger reported part of the Group's activity. Quarterly renewable revenue rose to Rs 99.59 crore from Rs 1.69 crore a year earlier, while renewable assets increased to Rs 647.24 crore from Rs 125.86 crore. Water remained the larger revenue segment at Rs 264.12 crore, but the renewable business accounted for most of the year-on-year increase in segment revenue.

The next disclosed milestone is the commercial operation date of the PRA Bihar BESS project, because the agreement requires the acquisition of its remaining 51% within 60 days of that date. Investors can also watch progress on the settlement and adjustment of Suyog Urja's Rs 18.61 crore customer advance, as well as deployment of Rs 44.45 crore of unutilised initial public offering proceeds held in special-purpose vehicle current accounts at September 30, 2026.