SPML Infra Q1FY27: Profit up 87%, revenue +74%

What SPML Infra reported this quarter

SPML Infra, a water and energy infrastructure developer, reported strong year-on-year growth in its June quarter performance. The company said the improvement was visible across revenue, EBITDA, margins, and net profit. It linked the performance to faster execution of projects won under its “SPML 2.0” transformation strategy. The update also highlighted a stronger order book, fresh order wins during the quarter, and an unchanged growth guidance. Alongside financial performance, SPML Infra also disclosed a governance item requiring shareholder approval via postal ballot.

Q1FY27 revenue growth and operating performance

For Q1FY27, SPML Infra reported revenue of ₹286 crore, up 74% year-on-year. The company’s total income for the quarter was reported at ₹285.67 crore, compared with ₹164.26 crore in the year-ago period. EBITDA increased 81% year-on-year to ₹28.3 crore. The EBITDA margin improved to 9.9% from 9.5% in the corresponding quarter of the previous year. The company positioned the margin improvement as part of broader operating traction coming from a “high-quality order book” and stronger execution.

Profitability: PAT up 87% year-on-year

Net profit (PAT) rose 87% year-on-year to ₹22.7 crore for the June quarter. The company also provided the year-ago base number, stating that standalone net profit was ₹12.15 crore in the same quarter a year earlier. SPML Infra said the jump in profitability reflected an increasing contribution from execution of new orders secured under SPML 2.0. It also described the quarter as evidence of a transition from order wins to revenue and earnings growth.

Order wins remain strong, supporting visibility

During Q1FY27, SPML Infra secured new orders worth ₹1,293 crore. The company said these wins strengthened medium-term revenue visibility. The total order book was stated at approximately ₹5,094 crore. Management commentary in the release emphasised disciplined execution of the expanding order book and selective pursuit of opportunities across water and power infrastructure.

SPML 2.0: shifting from wins to execution

SPML Infra attributed the quarter’s growth to accelerated execution of projects secured under its SPML 2.0 transformation strategy. The company framed this as a shift from acquiring orders to realising revenue from those orders. While the release did not break down revenue by segment, it repeatedly linked performance to execution momentum and the conversion of order book into billings. The emphasis on execution also appeared in forward commentary, with the company reiterating plans to improve operating margins as project delivery scales.

Guidance maintained: at least 25% growth

The company maintained its guidance of at least 25% growth. It also said it expects to sustain its growth momentum through FY27, supported by the strengthening order book and improving execution. The release did not provide a revised margin or profit guidance figure, but it highlighted continued improvement in operating margins as a focus area. Management also reiterated selective pursuit of new opportunities across water and power infrastructure segments.

Credit rating upgrades to BBB (Stable)

SPML Infra said its credit ratings were upgraded to BBB (Stable) by ICRA and CRISIL. The company linked the upgrade to balance sheet strengthening. While the statement did not provide further details on the factors or timelines behind the revision, it positioned the upgrades as supportive of the company’s improved financial profile alongside the stronger order book.

Stock and ownership cues highlighted in the update

The release flagged that renowned investor Vijay Kedia, through Kedia Securities Private Limited, held a 1.77% stake in the company at the end of the June quarter. Separately, a market snapshot in the provided information noted the company’s market capitalisation at ₹1,584.71 crore. The same snapshot also mentioned the stock was at ₹186.78, with an intraday high of ₹196.86 and a low of ₹185.6 on the referenced day.

Corporate governance: postal ballot and e-voting window

SPML Infra said it is seeking shareholder approval via postal ballot to re-appoint Tiruvidaimarudhur Srivatsan Sivashankar as an Independent Director. The proposed term is for one year starting June 8, 2026, after the expiry of his initial five-year term on the same date. Remote e-voting opened on July 29, 2026 at 09:00 a.m. IST and will close on August 27, 2026 at 05:00 p.m. IST. Members registered as of the cut-off date, July 24, 2026, are eligible to vote, and voting rights are proportional to paid-up equity share capital held as on the record date.

Key data at a glance

Postal ballot timeline and eligibility

What this means for investors tracking the infra cycle

SPML Infra’s quarter combined sharp year-on-year growth in revenue and profit with a meaningful pace of order wins. The company’s stated order book of about ₹5,094 crore and fresh inflows of ₹1,293 crore are central to its medium-term visibility, as presented in the release. Margin movement was modest but positive, with EBITDA margin improving to 9.9%. Credit rating upgrades to BBB (Stable) by ICRA and CRISIL, as mentioned by the company, add an additional signal around its balance sheet trajectory.

Closing note

The June quarter update positions SPML Infra as moving from order acquisition to execution-led financial delivery under SPML 2.0, while keeping a growth guidance of at least 25% through FY27. The immediate next confirmed milestone for shareholders is the postal ballot process, with remote e-voting open until August 27, 2026.