Transcript of Earning Conference Call of Q4FY26
PSPPROJECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
PSP Projects reported Q4FY26 revenue of INR 1,115 crores (up 66% YoY) with EBITDA of INR 60 crores (85% growth) and PAT of INR 21 crores (244% growth). Full year FY26 revenue stood at INR 3,149 crores (25% growth) but EBITDA margin compressed to 6% from 7.14% last year due to project mix changes and a one-time ECL provision of INR 29 crores on Kashi project receivables. Outstanding order book grew 85% YoY to INR 13,447 crores with 67% from Adani Group; FY26 order inflow was INR 10,925 crores. Management guided FY27 revenue of around INR 4,500 crores with EBITDA margins of 7%-8%, indicating margin recovery. The company expects to be debt-free in the coming quarters as mobilization advances from Adani Group are non-interest bearing. Working capital days are expected to improve to 60-70 days from current 90-100 days.
Strong order book provides multi-year revenue visibility, and management guidance of 7%-8% margins for FY27 signals margin recovery from current 6% levels. The goal to become debt-free could significantly boost PAT margins from the current 1.74%.