RBMINFRA

RBM Infracon financials

Market cap
₹322 Cr
Sector
Services
Calls analysed
2
Latest concall · Q4 FY26 · call held 16 Jun 2026

RBM Infracon Q4 FY26

Revenue ₹492.22 cr +53%EBITDA ₹74.1 cr +69%EBITDA Margin 15% Profit After Tax ₹45.28 cr +54%

What went well

  • Revenue of ₹492.22 crores, up 53% YoY.
  • EBITDA of ₹74.10 crores, up 69% YoY, with margin expanding from 13.6% to over 15%.
  • Profit After Tax (PAT) of ₹45.28 crores, up 54% YoY.

What to watch

  • Iran-Israel war disrupted global supply chains, causing delays in critical material delivery.
  • Auditors raised a qualified opinion regarding ₹107 crores of unbilled revenue, pending third-party certification.
Read the full call →

Guidance record · Q4 FY26

what the last two calls moved 14 tracked 0 delivered 3 missed 11 open
  • H2 FY26 Revenue missed said Q2 FY26 Promised: Better than H1 Q4 FY26: H1 FY26 revenue was ₹284.19 cr. Full FY26 revenue was ₹492.22 cr, implying H2 FY26 revenue was ₹208.03 cr. This is not better than H1.
  • FY27 Revenue revised down said Q2 FY26 Promised: ₹1,000 crores minimum Q4 FY26: Management provided a new, lower target for FY27: 'We have a target of ₹700 crores this year.'
  • FY27 Revenue open said Q4 FY26 Promised: ₹700 crores Q4 FY26: We have a target of ₹700 crores this year.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue up 101.9%, net profit up 80.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q2 FY26Q4 FY26
Revenue33 57 39 103 65 +97%218 +282%284 +628%208 +102%
EBITDA7 8 5 14 10 +43%29 +263%38 +660%35 +150%
Net profit5 4 3 10 7 +40%20 +400%27 +800%18 +80%
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 −19.9% 1Y

₹300₹400₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 24 Nov 2025Q4 FY26 — 16 Jun 2026

1Y: ₹395.2 on 10 Sept 2025 → ₹316.6. High ₹506.05 (17 Nov 2025), low ₹223.15 (19 Aug 2026).

How the price took the results

close before → close after

Q4 FY26
+0.0%
16 Jun
Q2 FY26
−4.2%
24 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 85.9% a year over 2 years, FY23 to FY25. Operating margin widened to 13.6%.

Year endingFY23FY24FY25
Revenue₹123 Cr₹149 Cr₹425 Cr
Operating profit₹6 Cr₹20 Cr₹58 Cr
Operating margin4.9%13.4%13.6%
Interest₹1 Cr₹2 Cr₹2 Cr
Depreciation₹0 Cr₹1 Cr₹2 Cr
Net profit₹4 Cr₹12 Cr₹40 Cr
Net margin3.3%8.1%9.4%
Cash from operations₹-4 Cr₹-52 Cr₹-3 Cr
Free cash flow₹-6 Cr₹-54 Cr₹-25 Cr
ROCE——33.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹1 Cr₹1 Cr₹8 Cr₹10 Cr₹11 Cr₹11 Cr
Reserves₹4 Cr₹6 Cr₹9 Cr₹87 Cr₹158 Cr₹177 Cr
Borrowings₹8 Cr₹8 Cr₹8 Cr₹2 Cr₹36 Cr₹142 Cr
Other liabilities₹11 Cr₹10 Cr₹16 Cr₹115 Cr₹218 Cr₹344 Cr
Total liabilities₹23 Cr₹25 Cr₹41 Cr₹215 Cr₹423 Cr₹673 Cr
Fixed assets₹2 Cr₹3 Cr₹4 Cr₹5 Cr₹42 Cr₹113 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹1 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹21 Cr₹22 Cr₹37 Cr₹209 Cr₹381 Cr₹560 Cr
Total assets₹23 Cr₹25 Cr₹41 Cr₹215 Cr₹423 Cr₹673 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 Mar 2026

Since Mar 2025, the public trimmed −2.22 pp while promoters added +1.97 pp. The shareholder count shrank 11% to 3,136.

Promoters
62.5%
FIIs
0.2%
DIIs
0.1%
Public
37.2%

Since Mar 2025

  • Public −2.22 pp
  • Promoters +1.97 pp
  • FIIs +0.21 pp

How it drifted, 7 quarters

Over this window promoters fell from 72.5% to 62.5% — −9.9 pp.

Mar '23Sep '24Mar '26

Ownership split by quarter, oldest first. Mar '23: Promoters 72.5%, Public 27.6%.Sep '23: Promoters 72.5%, Public 27.5%.Mar '24: Promoters 72.5%, Public 27.6%.Sep '24: Promoters 60.5%, FIIs 0.0%, Public 39.5%.Mar '25: Promoters 60.5%, FIIs 0.0%, Public 39.5%.Sep '25: Promoters 62.5%, DIIs 0.1%, Public 37.5%.Mar '26: Promoters 62.5%, FIIs 0.2%, DIIs 0.1%, Public 37.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Sep 2025

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Mar 2026 filing

Every holder of RBM Infracon above SEBI's 1% disclosure line, and what changed since Sep 2025.

HolderStakeChange
Jaybajrang Ramaishish Mani - 2 56.48%unchanged
Aditya Jay Bajrang Mani 4.99%unchanged
Manickam Ravichandran 1.88%unchanged
Sarabpreet Kaur 1.71%newly disclosed
Bijal Pradip Desai 1.14%+0.07 pp
Divyashri Ravichandran 1.09%unchanged
Seema Mani - 2 1.03%unchanged
Tulsi Prasad Shukla 0.00%unchanged
Payal Mani 0.00%unchanged
Sriniwash Mishra 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.

What the price assumes

Attractive

To justify its price of ₹317, this stock must grow earnings at -14% every year for 7 years. Our analysis caps realistic growth at ~216%. At that growth it is worth ₹1362062 — upside of 430115%.

Growth the price implies
-14.0% a year
for 7 years, fading to 4%
It has actually compounded at
216.2% a year
net profit, FY23–FY25
The gap
-2.3 pp
430115% downside if it only repeats history
Price today ₹316.6 Value at the reference growth ₹13,62,061.73

Change the assumptions yourself →

All earnings calls (2)

Read the Q4 FY26 call →

Learn to analyse RBM Infracon

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