Jaipur, October 22, 2026: Swastika Infra Limited (BSE: 544949 | NSE: SWASTIKAIN) (“Swastika Infra” or the “Company”), one of the leading Power Transmission & Distribution (T&D) EPC company, announced its financial results for the quarter and half year ended September 30, 2026 on October 21, 2026.
ORDER BOOK HIGHLIGHTS
• Unexecuted order book more than doubled to ₹1,420 Cr, from ₹687 Cr as on Mar 31, 2026.
• The unexecuted order book stands at ~2.8x FY26 revenue, providing strong revenue visibility.
• Order inflows of ~₹950 Cr during the year, indicating strong business momentum.
• Entered new state of Maharashtra, one of the largest markets for Power T&D investment – Company’s presence extends to 9 states, further diversifying the order book.
• 79% of our order book comprise of projects funded by World Bank, ADB, central government and other multi-lateral funding agencies/corporations, thereby reveals low dependence on state government funds.
FINANCIAL HIGHLIGHTS
Revenue
• During Q1FY27 company’s execution slowed down, as a prudent measure consequent to sharp increase in “price volatility and supply uncertainty” of components due to middle east war disruption.
• As the situation normalised, execution accelerated in Q2FY27, evident from the strong revenue growth during the quarter.
• Our execution is typically weighted towards H2 in line with the industry wide practice, the Company expects to make up for the Q1 slowdown in H2, supported by a robust order book. As such, overall yearly growth expected to be in line with the previous year.
• Higher margins were driven by higher share of commissioning revenue and certain projects nearing completion milestones.
• On full-year basis, the Company expects EBITDA margins to remain in line with the previous year.
Finance Cost
• Finance cost is expected to be lower in H2FY27, supported by the proceeds of the recent fund raise.
• A stronger capital base positions the Company for an improvement in its credit rating over time, which would further reduce borrowing costs.
PAT Margins
• Given the EBITDA margin normalisation and reduction in relative finance cost on full year basis, PAT margins to derive sustainable expansion as compared to previous year (FY26 PAT margin was 8.2%).
Commenting on the performance, Mr. Vinay Gupta, Managing Director, said:
“Our listing on NSE and BSE marks an important milestone in our journey. The expansion of our order book, together with our growing presence across geographies, reinforces our ability to participate in India’s evolving power infrastructure landscape. Historically, we have maintained healthy conversion of our order book into revenue, supported by our execution capabilities and disciplined project management. This track record gives us confidence in our ability to execute our significantly larger order book, which currently provides nearly 2.8 times FY26 revenue.
With continued investments in power transmission and distribution infrastructure, we see opportunities to further strengthen our market presence. Our focus remains on timely project delivery, operational efficiency and prudent management of financial and human resources. We will continue to pursue opportunities aligned with our execution capabilities, while maintaining a disciplined approach to sustainable, long-term growth.”
Headquartered in Jaipur, Rajasthan, Swastika Infra Limited is a Power T&D EPC company providing end-to-end turnkey solutions across substations, underground cabling, transmission and distribution lines, electrification and allied infrastructure. With a presence across 9 states, the Company undertakes projects across the complete execution lifecycle, with a significant focus on projects funded by multilateral institutions.
