VISHNUINFR
Vishnusurya financials
- Market cap
- ₹405 Cr
- Sector
- Construction Materials
- Calls analysed
- 2
Vishnusurya Q4 FY26
What went well
- Revenue from operations for FY26 grew 30% Y-o-Y to INR352 crores, up from INR271 crores in FY25.
- PAT for FY26 increased by 17% to INR36 crores, with EPS at INR14.33.
- Q4 FY26 revenue showed strong growth of 36% Y-o-Y, reaching INR127 crores.
What to watch
- Q4 FY26 profitability was impacted by temporary factors including labor shortage, election-related disruptions, unseasonal rains, and higher input costs.
- A dip in mining revenues was observed in Q4 FY26 (INR38 crores) compared to the previous year's Q4 (INR64 crores), which management could not immediately clarify.
What Vishnusurya does
Vishnusurya Projects and Infra mines rough stone and manufactures aggregates and manufactured sand (M-Sand) at three owned quarry units in Tamil Nadu using crushing and sand-washing plants. It also executes EPC (engineering, procurement and construction) projects across water infrastructure, roads, rail and marine works, including Hybrid Annuity Model (HAM) contracts for water supply and desalination. The company has more recently entered bio-mining and municipal solid-waste management, and separately deals in drone-based surveillance/mapping/surveying solutions.
Segments
- Construction Aggregates & M-Sand
- EPC Construction
- Waste Management
- Drones as a Service
- Quarry/production units
- 3 (Aruppukottai, Vandavasi, Hosur, Tamil Nadu)
- Combined crusher capacity
- ~37 lakh MT/year (9,80,000 + 13,75,000 + 13,25,000 MT/yr across the 3 units)
- Combined M-Sand capacity
- ~10.13 lakh MT/year (2,60,000 + 3,93,000 + 3,60,000 MT/yr across the 3 units)
- Total quarry land area
- 231 acres (110 + 42 + 79 across Aruppukottai, Vandavasi, Hosur)
- FY26 production volume (blue metal + M-Sand)
- ~17,30,931 + 3,44,929 MT (all units)
- EPC executed till date
- ₹390 Cr+
Guidance record · Q4 FY26
what the last two calls moved 18 tracked 2 delivered 7 missed 9 open- Manufactured Sand Contribution delivered said Q2 FY26 Promised: around 40% Q4 FY26: Achieved. Mining revenue was INR 141 crores on total revenue of INR 352 crores, a contribution of 40.05%, meeting the 'around 40%' target.
- PAT missed said Q2 FY26 Promised: 50 crores plus Q4 FY26: Achieved PAT of INR 36 crores for FY26, missing the target of INR 50 crores plus.
- Annual Rental Income (Brigade JV) delayed said Q2 FY26 Promised: INR 12 crores Q4 FY26: The start date for rental income, now specified as INR 1 crore/month from a different property, has been clarified to be April 2027 (Q1 FY28), a delay from the initial Q1 FY27 timeline.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 25.0%, net profit up 102.9% 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 | 139 | 38 | 94 | 49 | 119 −15% | 56 +49% | 127 +36% | 62 +25% |
| EBITDA | 32 | 8 | 8 | 11 | 28 −12% | 11 +31% | 5 −44% | 10 −8% |
| Net profit | 22 | 3 | 8 | 3 | 20 −9% | 5 +80% | 7 −1% | 6 +103% |
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 −8.0% 1Y
1Y: ₹170.6 on 10 Sept 2025 → ₹156.9. High ₹215.3 (30 Jan 2026), low ₹125.6 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −2.4%
- 2 Jun
- Q2 FY26
- −1.3%
- 18 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
| Year ending | FY26 |
|---|---|
| Revenue | ₹352 Cr |
| Operating profit | ₹54 Cr |
| Operating margin | 15.5% |
| Interest | ₹7 Cr |
| Depreciation | ₹9 Cr |
| Net profit | ₹35 Cr |
| Net margin | 10.1% |
| Cash from operations | ₹28 Cr |
| Free cash flow | ₹19 Cr |
| ROCE | 21.0% |
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 | ₹4 Cr | ₹4 Cr | ₹9 Cr | ₹25 Cr | ₹25 Cr | ₹26 Cr |
| Reserves | ₹10 Cr | ₹32 Cr | ₹47 Cr | ₹107 Cr | ₹156 Cr | ₹208 Cr |
| Borrowings | ₹16 Cr | ₹36 Cr | ₹36 Cr | ₹20 Cr | ₹50 Cr | ₹48 Cr |
| Other liabilities | ₹46 Cr | ₹43 Cr | ₹24 Cr | ₹37 Cr | ₹76 Cr | ₹68 Cr |
| Total liabilities | ₹76 Cr | ₹115 Cr | ₹116 Cr | ₹188 Cr | ₹307 Cr | ₹350 Cr |
| Fixed assets | ₹21 Cr | ₹42 Cr | ₹47 Cr | ₹45 Cr | ₹51 Cr | ₹140 Cr |
| Capital work in progress | ₹0 Cr | ₹2 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹3 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹59 Cr | ₹12 Cr |
| Other assets | ₹52 Cr | ₹68 Cr | ₹67 Cr | ₹142 Cr | ₹197 Cr | ₹198 Cr |
| Total assets | ₹76 Cr | ₹115 Cr | ₹116 Cr | ₹188 Cr | ₹307 Cr | ₹350 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 Mar 2025, the public added +3.17 pp while promoters trimmed −3.15 pp. The shareholder count shrank 1% to 1,364.
- Promoters
- 59.1%
- Public
- 40.9%
Since Mar 2025
- Public +3.17 pp
- Promoters −3.15 pp
- FIIs −0.01 pp
How it drifted, 7 quarters
Over this window the public went from 34.1% to 40.9% — +6.9 pp.
Ownership split by quarter, oldest first. Oct '23: Promoters 62.2%, FIIs 0.4%, DIIs 3.3%, Public 34.1%.Mar '24: Promoters 62.2%, Public 37.8%.Sep '24: Promoters 62.2%, FIIs 0.0%, Public 37.7%.Mar '25: Promoters 62.2%, FIIs 0.0%, Public 37.8%.Sep '25: Promoters 62.2%, Public 37.8%.Mar '26: Promoters 59.1%, Public 40.9%.Jun '26: Promoters 59.1%, Public 40.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Vishnusurya above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bhavani Jayaprakash | 57.67% | unchanged |
| Authum Investment And Infrastructure Limited NBFC / DFI | 10.10% | unchanged |
| Maneesh Parmar. | 1.55% | unchanged |
| Vaitheeswaran Thiagarajan | 1.52% | unchanged |
| J Vishnu | 1.35% | unchanged |
| Sanal Kumar V - 2 | 1.33% | unchanged |
| Parmar Developers And Properties Private Limited | 1.27% | unchanged |
| Monarch Infraparks Private Limited | 1.11% | unchanged |
| Vishal Sanjay Surana | 1.11% | unchanged |
| Jayaprakash R N | 0.04% | 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 (2)
Read the Q4 FY26 call →Learn to analyse Vishnusurya
Guides on how to read this kind of business and the numbers that matter.