SPML Infra reports strong H1 FY26 performance, expands into BESS market

SPML Infra Limited reported standalone revenue of INR 363 crore for H1 FY26, with an EBITDA of INR 35 crore and a PAT of INR 27 crore. EBITDA and PAT margins improved to 9.8% and 7.6% respectively. For Q2 FY26, revenue stood at INR 199 crore, a 2% year-over-year increase, with EBITDA at INR 20 crore and PAT at INR 15 crore, reflecting margins of 10% and 7.7%. The company expects higher margins from new projects to significantly boost profitability in Q3 and Q4 FY26.

The company secured new projects totaling over INR 3,772 crore in water infrastructure across Jharkhand, Madhya Pradesh, Rajasthan, and Tamil Nadu during H1 FY26. SPML Infra is also in L1 position for tenders worth approximately INR 1,125 crore, anticipated to be awarded this fiscal year. The current order book stands at around INR 1,600 crore, with a target of INR 5,000 crore in new orders for the current financial year.

SPML Infra's entry into Battery Energy Storage Systems (BESS) is progressing, with the 2.5 GWh Phase I facility at Pune MIDC on schedule for commissioning by Q1 FY27. The BESS market is projected to reach 236 GWh by 2031-32, representing an investment of approximately $57 billion, which the company aims to capitalize on through its turnkey integration model and strategic partnership with Energy Vault for technical know-how.