Vishnu Prakash R Punglia Limited has informed the Exchange about Transcript
VPRPL · price
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VPRPL reported Q1 FY26 operating revenue of Rs. 276 crore, up 8% year-on-year, while net profit fell 53% to Rs. 7 crore due to higher finance costs from delayed government payments. EBITDA margin came in at 11.54% versus the historical 12.5-13% range, with management guiding a return to normalized margins. The order book stands at Rs. 5,147 crore (3-year execution), with a bidding pipeline of Rs. 3,000 crore and annual bidding of Rs. 10,000-12,000 crore at a 16-18% success rate. Receivables remained elevated at ~Rs. 700 crore (down marginally from Rs. 735 crore), with management expecting normalization from Q3 FY26 as central government funds for water projects (Jal Jeevan Mission) are released.
Mixed signals for shareholders—revenue growth has resumed after a 16% decline in FY25, but profitability remains pressured by elevated receivables and finance costs. Promoters infused Rs. 110 crore of interest-free loans to support working capital. Management's guidance of 20-25% revenue growth and margin recovery to 12.5-13% could support sentiment, though execution depends on timely government payments.