LIKHITHA INFRASTRUC LTD

Lays cross-country oil and gas pipelines and carries out pipeline rehabilitation work for public-sector oil companies and overseas contractors. The order book received a fresh push with a Rs 510 crore contract from China Petroleum Engineering and Construction Corporation-Abu Dhabi for Pipeline Package-1 (ASAB), to be executed over 21 months, and a Rs 121.04 crore contract from Oil India Limited for Coating Refurbishment and associated works on Pipeline Rehabilitation Project Phase-II across two spreads in Assam, to be executed over 3 years. The company plans to raise about Rs 60 crore via convertible warrants, with roughly Rs 54 crore earmarked for oil and gas pipeline equipment and Rs 6 crore for working capital. In FY26 it reported Rs 456.7344 crore of revenue at a 13.35% EBITDA margin. The biggest cost line is 'other operating expenses' at 65.2% of revenue, followed by materials at 21.1% and employee cost at 5.7%. Lender confidence is reflected in a reaffirmed CRISIL A/Stable rating on Rs 300 crore of bank facilities, including bank guarantees and working capital lines.