NSE: UNIVASTU
UNIVASTU INDIA LIMITED
Executes civil and infrastructure construction contracts across eight business segments spanning Maharashtra, UP, Gujarat and Haryana. The portfolio is concentrated in metro rail systems (MMRDA Line 6, L&T Metro Line 4 and the IRCON Mumbai Metro Line 6 E&M contract revised to ₹601.46 cr plus Euro 26.79 lakh), sports infrastructure built around a Myrtha Pools partnership aimed at 2030 Olympics/Commonwealth Games venues, and niche mechanical-electrical works such as tunnel ventilation, Metro BMS and emerging data-centre liquid cooling. Two metro wins over ₹1,000 cr each in Q4 FY26 drove a 174% YoY jump in that quarter's revenue to ₹109.44 cr, lifting full-year FY26 revenue to ₹243.35 cr with a 17.10% EBITDA margin. A Class 1A unlimited contractor license allows direct bidding on large government tenders, while strategic JVs (Bootes Infra, T&T, ANSH, and a 49%-held associate UV Bharat) extend capability without full capital lock-up. Materials account for 73.8% of revenue as the dominant cost, with all contracts carrying price-escalation clauses to offset raw-material inflation. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Metro rail E&M systems, Sports infrastructure, Niche infrastructure, Civil and garden restoration. Asset-light civil and infrastructure contracting with strategic JVs to access niche verticals
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 59 | 87 | 171 | 243 |
| EBITDA (ex other income) | 12 | 15 | 28 | 40 |
| margin % | 21.2 | 16.8 | 16.5 | 16.4 |
| Owners' profit | 5 | 7 | 10 | 26 |
| EPS, as reported (₹) | 4.61 | 5.84 | 8.68 | 6.48 |
| ROE % · ROCE % | — · — | 14.6 · 24.3 | 18.1 · 26.4 | 23.0 · 30.5 |
| Debt / equity (x) | — | 0.73 | 0.40 | 0.30 |
| Cash from operations | 12 | 8 | (5) | 12 |
| Capex | (0) | (0) | (6) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 42 | 42 | 40 | 29 | 48 | 56 | 109 | 104 |
| Profit before tax | 7 | 6 | 7 | 6 | 7 | 9 | 14 | 14 |
| Net profit | 4 | 5 | 4 | 4 | 5 | 6 | 10 | 10 |
| EPS (₹) | 2.71 | 2.67 | 2.29 | 2.18 | 3.87 | 1.53 | 2.84 | 2.77 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LARSEN & TOUBRO LTD. | 4,98,723 | 30.1 | 3.88 | 18.2 | 14.7 | 11.9 | 16.0 | 12.5 |
| RAIL VIKAS NIGAM LIMITED | 39,032 | 43.4 | 3.98 | 28.1 | 8.9 | 7.5 | 5.8 | 7.5 |
| KALPATARU PROJECT INT LTD | 23,895 | 21.0 | 3.09 | 10.8 | 13.3 | 15.0 | 16.0 | 10.0 |
| IRB INFRA DEV LTD. | 21,100 | 16.2 | 1.01 | 9.8 | 4.1 | 2.5 | 7.6 | 55.6 |
| NBCC (INDIA) LIMITED | 19,980 | 27.0 | 6.21 | 16.4 | 23.1 | 29.7 | 13.5 | 9.6 |
| CEMINDIA PROJECTS LIMITED | 19,499 | 32.4 | 8.13 | 16.6 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 16,254 | 20.7 | 5.17 | 18.1 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 10,966 | 25.4 | 2.64 | 18.0 | 11.4 | 12.4 | 29.6 | 20.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.8 | 14.6 | 39 of 101 | 62% |
| P/B | 4.2 | 1.4 | 75 of 85 | 12% |
| ROCE | 27.4 | 10.0 | 13 of 107 | 89% |
| ROE | 23.0 | 9.1 | 10 of 87 | 90% |
| Debt / Equity | 0.3 | 0.4 | 38 of 87 | 57% |
| EBITDA margin | 14.6 | 12.4 | 40 of 88 | 55% |
| Revenue growth | 252.7 | 6.2 | 2 of 86 | 99% |
| Profit growth | 151.1 | 2.7 | 7 of 84 | 93% |
| Market cap | 468 | 468 | 54 of 107 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Univastu India sets up UK unit to acquire Cambium Networks assets | strategic transactions | medium | — | — |
| 8 Oct 2026 · Univastu Revises UK Subsidiary Disclosure; Asset Acquisition Planned | strategic transactions | low | — | — |
| 7 Oct 2026 · Univastu to set up UK subsidiary, acquire Cambium Networks assets for 39 lakh GBP | strategic transactions | medium | — | — |
| 7 Oct 2026 · Univastu India incorporates UK subsidiary for Cambium asset acquisition | strategic transactions | medium | — | — |
| 30 Sept 2026 · Univastu to acquire Cambium Networks assets via new UK subsidiary | strategic transactions | medium | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 and H1 FY26 results | compliance | minimal | — | — |
| 23 Sept 2026 · AGM voting results: all 7 resolutions passed | compliance | minimal | — | — |
| 23 Sept 2026 · Scrutinizer Report: All 7 Resolutions Passed at 17th AGM | board shareholder meetings | low | — | — |
| 21 Sept 2026 · Univastu India AGM: All 7 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Univastu bags Rs 23.74 crore CCTV order from L&T for Mumbai Metro Line 4 | business updates | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.