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Desco Infratech Limited announced its H1 FY2025-26 results showing strong year-on-year growth. Revenue from operations rose to ₹4,203.96 lakhs from ₹2,263.46 lakhs, while EBITDA grew nearly 81% to ₹898.89 lakhs. Profit After Tax jumped almost 90% to ₹617.14 lakhs, though EBITDA margin dipped slightly to 21.38% from 21.94%. The company explained that operating cash flow was in outflow position during H1 due to front-loaded material procurement and working capital deployment for large EPC contracts. Debt-to-equity ratio improved to a healthy 0.10:1 from 0.19:1. Management expressed confidence in a stronger H2, supported by an order book exceeding ₹3,345 crore across CGD, Power Transmission, and Water Infrastructure projects, with payments from institutional clients expected to improve liquidity in October–November 2025.
Strong revenue and profit growth in H1 is positive for shareholders, though the slight margin contraction and cash outflow may concern short-term investors. The robust order book, low leverage, and management's confident H2 outlook suggest potential upside if execution and collections materialize as planned.