Transcripts of Earnings Conference Call held on November 11, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Desco Infratech reported a strong H1 FY26 with total income nearly doubling to INR 42.03 crores (vs INR 22.63 crores in H1 FY25), EBITDA at INR 8.98 crores, and PAT at INR 6.17 crores. EBITDA margin came in slightly lower at 21.38% versus 21.94% YoY, and the company posted negative operating cash flow due to pre-mobilization advances for new projects. Management reaffirmed full-year FY26 revenue guidance of INR 108-115 crores (90-95% growth) and reiterated the long-term target of INR 1,000 crores revenue by FY30. Current order book stands at INR 345+ crores (CGD INR 333 crores, power INR 6.6 crores, rest water), with an additional INR 431 crores in bidding at a 30-40% win rate. The company is expanding into power transmission/distribution (expected 18-20% of revenue this year, 30-35% in 3 years) and is setting up a compressed biogas subsidiary (Desco Bio Green) targeting FY27 revenue commencement, while also pursuing acquisition of existing CBG units.
Strong H1 growth, a robust order pipeline, and a clear INR 1,000 crore FY30 target are positive for investor sentiment, but near-term cash flow stress and a slight margin dip from the power segment entry may cap upside in the short term. Investors should track H2 execution, working capital improvement, and the CBG subsidiary launch for further re-rating triggers.