J.Kumar Infraprojects Limited — Investor Meet, 26-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

J. Kumar Infraprojects reported FY25 revenue growth of 17% to INR5,693 Cr, EBITDA up 17% to INR826 Cr with a stable 14.5% margin, and PAT rose 19% to INR390 Cr (6.9% margin). Q4 revenue grew 15% to INR1,633 Cr. The order book remains strong at INR22,238 Cr, diversified across metro (16%), flyovers (50%), tunnels (18%), and buildings (16%).

Management targets ~15% revenue growth for FY26 (~INR6,500-6,600 Cr) with order inflows of INR6,000-8,000 Cr, including large metro and road projects in Mumbai and Pune. L1 orders stand at INR4,200 Cr, though some project awards may face delays. Capex of INR450-500 Cr is planned over FY26-27, mainly for tunnel boring machines, with margin expansion to 15-16% expected within 6-8 quarters.

The company aims to balance growth with profitability and financial discipline, maintaining net debt near zero. Execution is progressing well except for one delayed Delhi project, with expansion plans across 7 states. Investor focus is on consistent order inflows, margin improvement, and smooth execution of high-value infrastructure projects.