PSP Projects Limited has informed the Exchange about Investor Presentation
PSPPROJECT · price
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PSP Projects reported a weak Q1FY26 with revenue falling 16% YoY to ₹513 crore and EBITDA crashing 67% YoY to ₹24 crore, pushing margins down to 4.8% from 12% a year ago. Profit after tax was almost flat at just ₹0.13 crore versus ₹34 crore in Q1FY25. Management blamed a 37% labor shortage in April-May, higher employee costs (6.8% vs normal 4-5%), and new projects being in early execution stages. The order book stood at ₹6,514 crore as of June 30, 2025, up 11% YoY but down from ₹7,266 crore at the end of FY25, with only ₹107 crore of fresh orders added in the quarter. Of the order book, 27% now comes from Adani Group projects, following Adani Infra's acquisition of 30.07% stake from promoters.
This is a significantly weak quarter that will likely weigh on the stock near-term as profitability has collapsed. However, the Adani partnership could provide a long-term order pipeline boost, and management expects labor availability to normalize from August 2025, which could support a margin recovery in coming quarters.