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SRM Contractors, an infra specialist in challenging terrains, saw robust growth from FY21-25 with Revenue, EBITDA, and PAT CAGRs of 34.8%, 51%, and 60.7% respectively. Q1FY26 delivered ₹144 Cr Revenue, ₹22 Cr EBITDA, and ₹12.8 Cr PAT. The order book stood at ₹1476.06 Cr as of August 2025, with Roads & Bridges dominating.
The company strategically focuses on high-margin, difficult terrain projects, leveraging in-house design, equipment, and project clustering for efficiency. Future plans include diversifying into Hybrid Annuity Model (HAM) projects and expanding geographic presence.
A key recent development is the acquisition of a 51% stake in Maccaferri Infrastructure Pvt. Ltd. (MIPL), boosting geotechnical capabilities and adding MIPL’s ₹211 Cr order book. Significant ongoing projects include India's longest precast Cut-and-Cover Tunnel in Leh.
Financial health improved, with Net Debt/Equity at 0.09 for FY25 and long-term bank facilities upgraded to CARE A-. A strong pipeline of over ₹6000 Cr in tenders is under evaluation.
For FY26, management anticipates Revenue of ₹900 Cr, EBITDA margin over 20%, PAT margin over 9%, and new order inflow of ~₹1000+ Cr, emphasizing disciplined expansion and financial prudence.