Ganesh Infraworld Limited — Investor Meet, 03-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Ganesh Infraworld reported Q4 revenue of INR158.6 Cr (+6.3% QoQ), EBITDA of INR14.4 Cr (9.1% margin), and PAT of INR11.6 Cr (7.3% margin). FY25 revenue was INR538.2 Cr with EBITDA margin at 9.7% and PAT margin at 7.4%. The order book stands at INR891 Cr, led by water infrastructure at INR318 Cr (29x YoY growth). Management expects double-digit revenue growth and margin expansion in FY26 as water projects scale. Capex is moderate at ~INR11 Cr; working capital remains stable. They plan to grow the engineering team 50%+ and shift to direct government contracts via JVs, potentially boosting PAT margins by ~4%. The order pipeline is INR1,200 Cr (80% water), with INR2,000-3,000 Cr more bidding in FY26. Execution timelines are 12-18 months. Management is confident on growth and margin improvement.