EIEL
Enviro Infra Engineers share price & financials
- Price
- ₹205.87
- Market cap
- ₹3.5k Cr
- Sector
- Utilities
- Calls analysed
- 7
Enviro Infra Engineers Limited Q1 FY27
What went well
- Revenue from operations grew 49% Y-o-Y to ₹359.2 crores, driven by continued execution across the order book.
- EBITDA grew 17.87% Y-o-Y to ₹75.7 crores, with EBITDA margin at 21.07%.
- PAT grew 6.47% Y-o-Y to ₹45.2 crores, maintaining a PAT margin of 12.38%.
What to watch
- EBITDA margin declined to 21.07% in Q1 FY27 from 26.65% in Q1 FY26, primarily due to increased input costs and employee costs.
- Working capital cycle remains 'bloated' due to slow fund release from government clients, though expected to improve by September.
What Enviro Infra Engineers Limited does
Enviro Infra Engineers designs, builds and operates sewage treatment plants (STPs), common effluent treatment plants (CETPs), water treatment plants and water supply schemes for municipal and industrial clients across India, typically as turnkey EPC or Hybrid Annuity Model (HAM) contracts that also include multi-year operations & maintenance (O&M). Clients are predominantly government bodies, urban development authorities and state-led infrastructure agencies. The company has recently diversified beyond water into renewable energy, building an independent power producer (IPP) portfolio of solar and battery energy storage (BESS) assets, and, through the majority acquisition of Suyog Urja Limited, adding wind EPC capabilities.
Segments
- Water & wastewater EPC
- Operations & Maintenance (O&M)
- Renewable EPC (solar, wind, BESS)
- Renewable IPP
- Water/wastewater projects delivered
- 55+ projects (~930 MLD treatment capacity)
- Renewable IPP portfolio
- 79 MW solar + 150 MWh BESS
- Wind EPC track record (Suyog Urja, majority-owned)
- 500+ MW completed, 600+ MW under execution
- Geographic presence
- 12 Indian states
- Workforce
- 1,265 employees and workers
- Contract models
- EPC, Hybrid Annuity Model (HAM) and O&M
Guidance record · Q1 FY27
what the last two calls moved 25 tracked 5 delivered 7 missed 13 open- Revenue Growth CAGR missed said Q3 FY25 Promised: 35% to 40% continuous growth for next 4-5 years Q1 FY27: Past target, not mentioned. Management has issued a new long-term growth guidance of 25-30%.
- EBITDA Margin revised down said Q3 FY25 Promised: 24-25% Q1 FY27: FY27 blended EBITDA margin guidance further revised down to 19-20% due to input costs and business mix. This is significantly below the original 24-25% promise.
- FY27 Revenue on track said Q4 FY26 Promised: INR 2,000 crores Q1 FY27: Reiterated guidance. 'We are well on target of achieving these INR2000 crores.' Q1 revenue was INR 359.2 cr, with execution expected to ramp up in H2.
All 25 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 49.0%, net profit up 7.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 213 | 247 | 393 | 241 | 227 +7% | 250 +1% | 427 +9% | 359 +49% |
| EBITDA | 56 | 54 | 99 | 64 | 65 +16% | 68 +26% | 80 −19% | 76 +19% |
| Net profit | 36 | 37 | 74 | 42 | 50 +39% | 42 +14% | 54 −27% | 45 +7% |
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 −16.7% 1Y
1Y: ₹248.68 on 10 Sept 2025 → ₹207.11. High ₹271.52 (22 Sept 2025), low ₹137.14 (9 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.1%
- 12 Aug
- Q4 FY26
- +1.2%
- 4 Jun
- Q3 FY26
- −1.9%
- 10 Feb
- Q2 FY26
- −5.1%
- 5 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 8.2% a year over 1 year, FY25 to FY26. Operating margin held at 24.2%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹1.1k Cr | ₹1.1k Cr |
| Operating profit | ₹260 Cr | ₹277 Cr |
| Operating margin | 24.6% | 24.2% |
| Interest | ₹36 Cr | ₹36 Cr |
| Depreciation | ₹10 Cr | ₹25 Cr |
| Net profit | ₹177 Cr | ₹188 Cr |
| Net margin | 16.7% | 16.4% |
| Cash from operations | ₹-47 Cr | ₹-63 Cr |
| Free cash flow | ₹-93 Cr | ₹-245 Cr |
| ROCE | 32.0% | 20.0% |
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 | ₹2 Cr | ₹2 Cr | ₹26 Cr | ₹137 Cr | ₹176 Cr | ₹176 Cr |
| Reserves | ₹35 Cr | ₹69 Cr | ₹101 Cr | ₹155 Cr | ₹963 Cr | ₹1.1k Cr |
| Borrowings | ₹30 Cr | ₹17 Cr | ₹65 Cr | ₹234 Cr | ₹295 Cr | ₹422 Cr |
| Other liabilities | ₹45 Cr | ₹59 Cr | ₹157 Cr | ₹235 Cr | ₹142 Cr | ₹387 Cr |
| Total liabilities | ₹112 Cr | ₹148 Cr | ₹348 Cr | ₹761 Cr | ₹1.6k Cr | ₹2.0k Cr |
| Fixed assets | ₹8 Cr | ₹10 Cr | ₹18 Cr | ₹47 Cr | ₹213 Cr | ₹255 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹114 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹52 Cr | ₹67 Cr |
| Other assets | ₹104 Cr | ₹137 Cr | ₹329 Cr | ₹713 Cr | ₹1.3k Cr | ₹1.6k Cr |
| Total assets | ₹112 Cr | ₹148 Cr | ₹348 Cr | ₹761 Cr | ₹1.6k Cr | ₹2.0k 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, DIIs trimmed −2.01 pp while the public added +1.58 pp. The shareholder count shrank 9% to 2,25,178.
- Promoters
- 70.2%
- FIIs
- 0.7%
- DIIs
- 0.7%
- Public
- 28.4%
Since Jun 2025
- DIIs −2.01 pp
- Public +1.58 pp
- FIIs +0.34 pp
How it drifted, 7 quarters
Over this window the public went from 23.4% to 28.4% — +5.1 pp.
Ownership split by quarter, oldest first. Dec '24: Promoters 70.0%, FIIs 1.4%, DIIs 5.2%, Public 23.4%.Mar '25: Promoters 70.1%, FIIs 0.7%, DIIs 3.7%, Public 25.6%.Jun '25: Promoters 70.1%, FIIs 0.3%, DIIs 2.7%, Public 26.9%.Sep '25: Promoters 70.1%, FIIs 0.4%, DIIs 1.3%, Public 28.2%.Dec '25: Promoters 70.1%, FIIs 0.4%, DIIs 1.0%, Public 28.4%.Mar '26: Promoters 70.2%, FIIs 0.6%, DIIs 0.9%, Public 28.4%.Jun '26: Promoters 70.2%, FIIs 0.7%, DIIs 0.7%, Public 28.4%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Enviro Infra Engineers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sanjay Jain | 27.88% | unchanged |
| Manish Jain | 27.88% | unchanged |
| Ritu Jain | 7.19% | unchanged |
| Shachi Jain | 7.19% | unchanged |
| Piyush Jain | 0.04% | unchanged |
| Manoj Jain | 0.00% | unchanged |
| Sneh Jain | 0.00% | unchanged |
| Sanjay Jain (Huf) | 0.00% | unchanged |
| Veena Jain | 0.00% | unchanged |
| Rekha Jain | 0.00% | unchanged |
| Manish Jain (Huf) | 0.00% | unchanged |
| Gunjan Bansal | 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 (7)
Read the Q1 FY27 call →Learn to analyse Enviro Infra Engineers Limited
Guides on how to read this kind of business and the numbers that matter.