Vishnu Prakash R Punglia sees Q2/H1 profit decline despite strong order book

For Q2 FY2026, Vishnu Prakash R Punglia Limited reported total revenue of INR 2,957 Mn, an 11.7% year-on-year decrease. EBITDA stood at INR 244 Mn, down 49.8% YoY, with EBITDA margins contracting to 8.25%. Net profit significantly decreased by 84.4% to INR 37 Mn, resulting in diluted EPS of 0.29.

The H1 FY2026 consolidated performance shows total revenue of INR 5,721 Mn, a 3.3% YoY decrease. EBITDA for the half-year was INR 563 Mn, down 31.5% YoY, with EBITDA margins at 9.84%. Net profit for H1 FY26 was INR 107 Mn, a 72.2% YoY decline, and diluted EPS was 0.85.

Despite the dip in profitability, the company maintains a strong order book of over INR 50,010 million as of September 30, 2025, providing revenue visibility for the next 24-36 months. Water supply projects constitute 57% of the order book, followed by railway projects at 33%. The company also noted strengthened financial discipline with reduced banking and Non-Banking Financial Company exposure.