Pune-based integrated equipment-rental and refurbishment company supplying pavers, milling machines, crushers and compactors to Indian road and infrastructure EPC contractors
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 325 | +30.5% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 26.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 44.0 | +131.6% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +15.6 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | ||
| Revenue growth (YoY) | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
2 of 5 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 Revenue | > INR 550 crores | Q2 FY26 | Company reported full-year FY26 revenue of INR 622 crores, exceeding the target of > INR 550 crores. | Achieved |
| Debt-to-Equity Ratio | 1:1 or less | Q2 FY26 | The company reported a Debt-to-Equity ratio of 1.36x for FY26, which is higher than the targeted '1:1 or less'. | Missed |
| Annual Capex | Same as current (INR 60-80 crores) | Q2 FY26 | Management guided for INR 100-150 crores of capex for FY27, which is a revision from the previously stated target of maintaining capex at INR 60-80 crores annually. | Revised Down |
3 of Vision Infra's 12 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹230.95 on 24 Oct 2025 → ₹327. High ₹404.4 (10 Sept 2026), low ₹213 (28 Jan 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Vision Infra Equipment Solutions Limited runs two integrated businesses built around road and infrastructure construction machinery. The rental arm leases equipment such as pavers, slipform machines, milling machines, crushing and screening plants, soil compactors and vibratory rollers to EPC contractors under either time-based (usage hours/days) or output-based (tonnes crushed, kilometres paved) pricing, bundled with operators, on-site setup and maintenance. The refurbishment and trading arm sources used construction equipment from NBFCs, contractors, dealers and OEMs, overhauls it in company-run workshops, and resells it to small/mid-sized contractors domestically and to overseas buyers. The company also undertakes works contracts for crushing, soil stabilization, recycling, milling and paving.
Segments
close before → close after
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.
Guidance
2 of 5 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 Revenue | > INR 550 crores | Q2 FY26 | Company reported full-year FY26 revenue of INR 622 crores, exceeding the target of > INR 550 crores. | Achieved |
| Debt-to-Equity Ratio | 1:1 or less | Q2 FY26 | The company reported a Debt-to-Equity ratio of 1.36x for FY26, which is higher than the targeted '1:1 or less'. | Missed |
| Annual Capex | Same as current (INR 60-80 crores) | Q2 FY26 | Management guided for INR 100-150 crores of capex for FY27, which is a revision from the previously stated target of maintaining capex at INR 60-80 crores annually. | Revised Down |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.
Call summaries
Vision Infra Q4 FY26
Vision Infra reported a strong FY26, with revenue up 37% to ₹622 crore and PAT surging 94% to ₹66 crore, driven by robust infrastructure spending and operational expansion. The company improved its balance sheet, reducing the debt-equity ratio to 1.36x and debtor days to 102. Management guided for 25-30% revenue growth and a 12% PAT margin for FY27, while also planning entry into the mining sector.
Read the full callVision Infra H1 FY26
Vision Infra reported robust H1 FY26 financial results, driven by strong growth in revenue, EBITDA, and PAT, fueled by the booming infrastructure sector. The company is optimistic about its H2 performance and future growth, supported by strategic capital allocation and a dual-vertical business model. However, it faces challenges in managing increased corporate overhead and recent margin contraction in its refurbishment segment.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2024 to Mar 2025).
Financials
Net profit, year on year: +132% (quarter to mar 2026 against mar 2025).
| Line item | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 69 | 194 | 249 | 282 | 325 |
| Expenses | 52 | 142 | 184 | 210 | 241 |
| Operating profit | 17 | 51 | 66 | 72 | 84 |
| Operating margin | 25.0% | 26.0% | 26.0% | 26.0% | 26.0% |
| Other income | 3 | 6 | 6 | 6 | 9 |
| Interest | 3 | 13 | 14 | 16 | 20 |
| Depreciation | 9 | 23 | 31 | 33 | 16 |
| Profit before tax | 8 | 21 | 27 | 29 | 57 |
| Tax rate | 29.0% | 30.0% | 29.0% | 25.0% | 22.0% |
| Net profit | 6 | 15 | 19 | 22 | 44 |
| EPS (₹ per share) | 3.32 | 5.97 | 7.86 | 8.77 | 18.02 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity capital | — | 17 | 25 | 25 |
| Reserves | 0 | 6 | 140 | 238 |
| Borrowings | — | 238 | 275 | 377 |
| Other liabilities | — | 91 | 75 | 235 |
| Total liabilities | 0 | 351 | 515 | 876 |
| Fixed assets | — | 195 | 271 | 427 |
| Capital work in progress | — | 0 | 1 | 44 |
| Investments | 0 | 1 | 1 | 0 |
| Other assets | — | 155 | 242 | 404 |
| Total assets | 0 | 351 | 515 | 876 |
| Line item | Mar 2024 | Mar 2025 |
|---|---|---|
| Cash from operations | 29 | 18 |
| Cash from investing | -28 | -137 |
| Cash from financing | 2 | 118 |
| Net cash flow | 4 | -1 |
| Free cash flow | 2 | -108 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Debtor days | 0 | 487 | 121 | 104 |
| Inventory days | 0 | 403 | 79 | 133 |
| Days payable | — | 443 | 46 | 43 |
| Cash conversion cycle | 0 | 446 | 154 | 194 |
| Working capital days | 0 | -68 | 45 | -2 |
| Return on capital employed | — | — | 20.0% | 23.0% |
| Dividend payout | — | 0.0% | 4.0% | 0.0% |
The businesses behind the company’s reported revenue.
b) From Trading and Refurbishment Products contributes 53.7% of reported segment revenue.
Year ended 31 Mar 2025 · Consolidated
₹238.04 crore
₹205.23 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| b) From Trading and Refurbishment Products | 238.04 | 53.7% |
| a) From Rental Services | 205.23 | 46.3% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Ownership
Promoters hold 69.70% as of Sept 2026; institutions added 0.21 pts since Jul 2026.
Named in the Sep 2026 filing
Every holder of Vision Infra above SEBI's 1% disclosure line, and what changed since Jul 2026.
| Holder | Stake | Change |
|---|---|---|
| 22.56% | −0.46 pp | |
| 22.53% | −0.46 pp | |
| 22.52% | −0.46 pp | |
| 1.49% | unchanged | |
| VC / PE | 1.33% | unchanged |
| AIF | 1.03% | unchanged |
| 0.17% | unchanged | |
| 0.17% | unchanged | |
| 0.17% | unchanged | |
| 0.17% | 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.
Your own record
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