Vishnu Prakash R Punglia Limited has informed the Exchange about Transcript
VPRPL · price
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VPRPL reported a weak FY25 with revenue falling 16% YoY to Rs. 1,237 crore and net profit declining 52% to Rs. 59 crore (PAT margin 4.74%). Q4 was sharply weaker with revenue down 38% to Rs. 405 crore and net profit down 76% to Rs. 16 crore. The company blamed persistent payment delays under the Jal Jeevan Mission, with around Rs. 735 crore stuck in receivables (70-75% from water supply projects), forcing an additional Rs. 30 crore ECL provision. Despite this, the order book remains healthy at Rs. 5,362 crore (around 3 years of revenue visibility), with Rs. 1,850 crore in new orders won during FY25 and a bidding pipeline of Rs. 4,500 crore. Management expects payment normalization within 2-3 quarters and guided for FY26 revenue to be at least 10-15% higher than FY25.
Near-term outlook is weak given the working capital strain and muted H1 FY26, but the strong order book and management's confidence in margin recovery (around 13% adjusted EBITDA) provide comfort. The Jal Jeevan Mission extension to 2028 and Rs. 70,000 crore government allocation for water schemes are positive long-term tailwinds that could support a recovery in subsequent quarters.