ARISINFRA SOLUTIONS LTD

Runs a tech-enabled construction materials and services platform that serves 3,000+ customers through 2,000+ vendors across 23 states, with 78%+ of orders coming from repeat customers. Revenue is split across three segments: B2B Supply (about 44% of FY26 revenue), which sources and delivers construction materials to builders and contractors; Contract Manufacturing (about 47%), which produces construction materials at partner facilities — Q4 FY26 volumes were 11.29 lakh MT with capacity utilisation at 50% (up from 39%); and DAAS Services (about 9%), a higher-margin services arm executing design-and-build or infrastructure contracts — Q4 DAAS revenue was INR 36 crores (+264% YoY) and asphalt was launched as a new sub-category with INR 30 crores of Q4 revenue. FY26 revenue reached INR 1,068 crores (+39% YoY) with EBITDA of INR 101 crores at a 9.43% margin and PAT of INR 60 crores, against INR 6 crores the prior year. Operating cash flow turned positive at INR 142 crores and net working capital days improved to 66 from 110, with net debt-to-equity at -0.09x. The platform handles around 800 daily deliveries and digitised 6.5 lakh documents in FY26; a Rs 79.05 crore work order for Mumbai's GMLR Twin Tunnel Project shows the infrastructure-services scope. The stated cost shape shows employee costs at 3.7% of revenue, other operating expenses at 3.5%, depreciation at 0.4%, and capex at 0.6% — the residual (the bulk of revenue) is the cost of construction materials sourced from vendors or produced through contract manufacturing partners. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. B2B Supply (44%), Contract Manufacturing (47%), DAAS Services (9%). Asset-light, tech-enabled construction materials platform; working capital intensive but improving, with operating cash flow turning positive.

Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)