Corporate Presentation for the 3rd quarter ended on 31st December, 2025 for the FY 2025-26.
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Bondada Engineering reported strong Q3 FY26 results with revenue of INR 7,122.8 Mn, up 89.4% year-on-year, and net profit of INR 542 Mn, up 119.1% YoY. For 9M FY26, revenue surged 125.2% YoY to INR 19,289.5 Mn with net profit more than doubling to INR 1,483 Mn. EBITDA margin expanded 173 basis points YoY to 11.9% in Q3, reflecting improving operating leverage. The company's order book stands at INR 78,754 Mn (5x FY25 revenue), led by renewable energy (83% of book), with another INR 90,000 Mn AP 2GW IPP project in the pipeline. Recent major order wins include Adani (INR 10,500 Mn), NLC India Renewables (INR 9,451 Mn), APTRANSCO (INR 6,270 Mn BESS), MAHAGENCO (INR 4,650 Mn), and NTPC Green (INR 3,914 Mn). Management outlined a Vision 2030 plan targeting USD 1 billion revenue, 25 GW renewable energy capacity, and expansion into defence and data centres.
Strong execution with rapid revenue growth, expanding margins, and a robust 5x revenue order book signals sustained momentum for shareholders. The Vision 2030 targets and diversification into defence, BESS, and data centres could support re-rating, though the heavy renewable energy concentration (80% of revenue) exposes the company to policy and execution risks in that segment.