Vishnu Prakash R Punglia Limited — Investor Meet, 20-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

VPRPL's Q1 FY26 revenue reached ₹276 Cr (+8% YoY), though net profit was ₹7 Cr (-53% YoY) due to higher finance costs from delayed government payments. EBITDA margin stood at 11.54%. Management noted that while the infrastructure sector faced payment delays, they anticipate funds, especially from water projects, to normalize after Q3 FY26, boosted by Jal Jeevan Mission's extension. The company's order book is robust at ₹5147 Cr, with a ₹3000 Cr bidding pipeline. Receivables declined marginally to ₹700 Cr, with payments slowly releasing. The company projects 20-25% revenue growth and 12.5-13.5% EBITDA margins for FY26, maintaining a confident outlook on execution and continued focus on water and railway projects.