SRM Contractors reports strong Q2 FY26 results, eyes expansion

For Q2 FY26, SRM Contractors reported revenue of INR192 crores, with an EBITDA of INR29 crores, representing an EBITDA margin of 15.49%. Profit After Tax (PAT) for the quarter stood at INR19 crores, achieving a PAT margin of 10.15%, compared to INR8 crores and a 9.34% margin in Q2 FY25. For the first half of FY26, revenue reached INR335 crores, with an EBITDA of INR51 crores (15.48% margin) and a PAT of INR33 crores (19.71% margin).

The company's order book as of September 2025 totaled INR1,552 crores, comprising INR999 crores from roads and bridges, INR142 crores from tunnels, and INR411 crores from slope projects. An order inflow of INR174 crores was achieved in H1 FY26, with the order book pipeline at INR3,668 crores. SRM Contractors aims for revenues in the range of INR900 to INR1,000 crores for FY26, with a consolidated target of INR1,100 crores to INR1,200 crores, including contributions from Maccaferri Infrastructure Private Limited.

Strategic diversification includes expanding into Hybrid Annuity Model (HAM) projects and international markets, with plans to bid for projects in the GCC and African regions. The company also anticipates a capex of INR70 crores in FY26, with INR48 crores already spent in H1 FY26.