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Bondada Engineering

Listed EPC / O&M — per-stock model.

As of 31 Mar 2026
EPC / O&M
CMP 315NSE: BONDADA

Latest concall

Q4 FY26 · 28 Apr 2026
  • FY26 revenue Rs2,843cr up 81%; net profit Rs211cr; Q4 revenue Rs914cr up 28% YoY.
  • Order book Rs7,147cr at Mar-2026, led by renewable/solar EPC and BESS projects.
  • Separate Rs9,000cr, 2GW IPP project in Andhra Pradesh in land-pooling stage, housed in dedicated SPV.
  • New integrated Hyderabad manufacturing facility planned, capex Rs120-130cr.
Order-book execution

Rs7,147cr book largely executable over ~12-18 months, supporting the guided 60-70% FY27 growth; the 2GW IPP is a longer multi-year build.

Management guidance
  • Targets 60-70% revenue growth in FY27.
  • Aspires to grow order book toward Rs20,000cr by FY27, driven by renewables and BESS.
  • Diversifying from telecom towers into solar EPC, BESS and IPP ownership.

Q4/FY26 post-earnings concall 28-Apr-2026; scanx.trade, ConstructionWorld, screener.in

Order book

₹7,147cr

Revenue FY26E

2,843₹ cr

EBITDA margin

11.5%

P/E

17.3×

Financials

Annual · ₹ crore · E = estimate.

Annual financials

₹ crore · FY25 → FY28E

PeriodRevenueEBITDAEBITDA %PATGross %ROE %ROCE %CapexNet debtEPS ₹WC days
FY22334206.0%10
FY23371318.4%182.3
FY24801688.5%464.1
FY251,57117511.1%11510.2
FY262,84332711.5%21118.2
Source Market data (mid-2026) + company filings· As of 31 Mar 2026

Revenue, EBITDA & margin

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 31 Mar 2026

Quarterly

₹ crore · recent quarters.

Quarterly financials

₹ crore

QuarterRevenueEBITDAEBITDA %PATPAT %
Q3FY253763810.1%256.7%
Q4FY257148211.5%567.8%
Q2FY266597811.8%527.9%
Q3FY267128511.9%547.6%
Q4FY269149610.5%636.9%
Source Market data (mid-2026) + company filings· As of 31 Mar 2026

Revenue & margin trend

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 31 Mar 2026

Valuation

As of 31 Mar 2026

P/E

17.3×

P/B

5.1×

Operating & order mix

Unit economics and the order book.

Shareholding

% · as of 31 Mar 2026

Shareholding pattern

%

Source Market data (mid-2026) + company filings· As of 31 Mar 2026