DENTA

Denta Water financials

Karnataka-based civil engineering contractor for groundwater recharge, drinking-water and sewage-treatment infrastructure, with incidental road and railway construction work.

Market cap: ₹768 Cr
Sector: Utilities
Calls analysed: 5

Latest concall · Q4 FY26 · call held 25 Jun 2026

Denta Water Q4 FY26

Revenue from Operations ₹250.38 cr +23%EBITDA ₹83.49 cr EBITDA Margin 19% PAT ₹60.9 cr

What went well

Revenue from operations for FY26 increased to ₹250.38 crores, registering a growth of over 23% compared to the previous year.
EBITDA for FY26 grew to ₹83.49 crores.
Profit after tax for FY26 increased to ₹60.9 crores.

What to watch

Q4 FY26 EBITDA margin compressed to 19% from 33% in prior quarters.
Raw material prices (UPVC and HDP pipes, 20-30% of total) increased due to Iran-US war, impacting Q4 and Q1 FY27.

Read the full call →

What Denta Water does

Denta Water and Infra Solutions designs, installs, commissions and operates water management infrastructure such as groundwater recharging systems using recycled water, drinking-water supply schemes, and sewage treatment plants (using CAMUS and SBR technologies), largely for government programmes like Jal Jeevan Mission and AMRUT. It earns fees as a civil engineering contractor executing government-awarded water projects, with some contracts structured on a Design-Build-Operate-Transfer basis that includes multi-year operation and maintenance. It also selectively takes on incidental road and railway construction projects.

Segments

Water Management
Irrigation
Roads
Railways
Infrastructure

Outstanding order book: ₹7,277.76 Mn across 38 projects (as of Mar 31, 2026)
Completed projects: 40 (since incorporation, as of Mar 31, 2026)
Ongoing projects: 38 (as of Mar 31, 2026)
Order book by segment: Water Management 20 projects / Roads 10 / Railways 2 / Irrigation 4 / Infrastructure 2
Geographic concentration: ~80-85% of projects in Karnataka; targeting expansion into Maharashtra, Madhya Pradesh, Gujarat, Uttar Pradesh, Haryana
Tender win ratio: ~70-75%

Founded 2016Headquarters Basavanagudi, Bengaluru, Karnataka, India Company website

Guidance record · Q4 FY26

what the last two calls moved 7 tracked 3 delivered 3 missed 1 open

FY26 Revenue delivered, diluted said Q4 FY25 Promised: INR 300 crores Q4 FY26: Achieved 23.2% growth (250.38 cr), meeting the revised guidance but missing the original target.
Order Book Value missed said Q2 FY26 Promised: INR 1000 crores by March 2026 Q4 FY26: Order book ended at 727.8 cr, significantly below the 1000 cr target.
FY27 Revenue Growth revised down said Q1 FY26 Promised: 30% YoY growth Q4 FY26: Guidance cut from 30% to a minimum of 20% YoY growth.

All 7 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 11.9%, net profit down 42.1% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	48	51	54	67	74 +54%	54 +6%	55 +2%	59 −12%
Expenses	33	33	38	45	51	36	44	46
EBITDA	15	18	17	22	24 +60%	17 −6%	11 −35%	13 −41%
Margin	31%	36%	30%	33%	32%	33%	20%	22%
Other income	0	1	3	3	3	2	2	2
Interest	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0
Profit before tax	15	19	19	25	26 +73%	19 +0%	12 −37%	15 −40%
Tax rate	27%	22%	29%	25%	26%	26%	26%	25%
Net profit	11	15	14	19	19 +73%	14 −7%	9 −36%	11 −42%
EPS	5.76	7.79	5.14	6.95	7.09	5.34	3.41	4.18

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −28.0% 1Y

1Y: ₹399.5 on 10 Sept 2025 → ₹287.75. High ₹467.65 (6 Oct 2025), low ₹27.93 (2 Sept 2026).

How the price took the results

close before → close after

Q4 FY26: +2.8%; 25 Jun
Q3 FY26: −2.0%; 20 Feb
Q2 FY26: −2.1%; 17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 23.8% a year over 1 year, FY25 to FY26. Operating margin narrowed to 29.6%.

Year ending	FY25	FY26
Revenue	₹202 Cr	₹250 Cr
Operating profit	₹68 Cr	₹74 Cr
Operating margin	33.7%	29.6%
Interest	₹0 Cr	₹0 Cr
Depreciation	₹0 Cr	₹0 Cr
Net profit	₹53 Cr	₹61 Cr
Net margin	26.2%	24.4%
Cash from operations	₹-72 Cr	₹-34 Cr
Free cash flow	₹-72 Cr	₹-35 Cr
ROCE	25.0%	19.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹5 Cr	₹5 Cr	₹5 Cr	₹19 Cr	₹27 Cr	₹27 Cr
Reserves	₹11 Cr	₹50 Cr	₹99 Cr	₹145 Cr	₹410 Cr	₹432 Cr
Borrowings	₹0 Cr	₹0 Cr	₹1 Cr	₹1 Cr	₹14 Cr	₹12 Cr
Other liabilities	₹26 Cr	₹6 Cr	₹18 Cr	₹55 Cr	₹14 Cr	₹13 Cr
Total liabilities	₹42 Cr	₹61 Cr	₹124 Cr	₹220 Cr	₹463 Cr	₹484 Cr
Fixed assets	₹6 Cr	₹10 Cr	₹24 Cr	₹25 Cr	₹24 Cr	₹24 Cr
Capital work in progress	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Investments	₹0 Cr	₹0 Cr	₹7 Cr	₹7 Cr	₹71 Cr	₹71 Cr
Other assets	₹37 Cr	₹51 Cr	₹93 Cr	₹188 Cr	₹368 Cr	₹388 Cr
Total assets	₹42 Cr	₹61 Cr	₹124 Cr	₹220 Cr	₹463 Cr	₹484 Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +3.67 pp while DIIs trimmed −2.54 pp. The shareholder count grew 7% to 42,455.

Promoters: 71.9%
DIIs: 0.3%
Public: 27.8%

Since Jun 2025

Public +3.67 pp
DIIs −2.54 pp
FIIs −1.11 pp

How it drifted, 6 quarters

Over this window the public went from 21.1% to 27.8% — +6.7 pp.

Mar '25Sep '25Jun '26

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Denta Water above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Hema H M	25.17%	unchanged
Sowbhagyamma	25.17%	unchanged
Mruthyunjaya Swamy C	17.98%	unchanged
Anusha M	2.72%	unchanged
Sujith T R	0.73%	unchanged
Prabhu H M	0.07%	unchanged
Viswanath H M	0.07%	unchanged
Uva Sands Private Limited	0.00%	unchanged
S. Chandrashekariah	0.00%	unchanged
Dr Gurumurthy	0.00%	unchanged
Coorguva Infra And Hospitality Private Limited	0.00%	unchanged
Rajashekar S	0.00%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (5)

Read the Q4 FY26 call →

Learn to analyse Denta Water

Guides on how to read this kind of business and the numbers that matter.