Spml Infra Limited · NSE:SPMLINFRA
Spml Infra — Q2 FY2026 Earnings Presentation
39 slides from Spml Infra's earnings presentation, Nov 14, 2025
Slide 1: Exchange filing cover letter
SPML [Q 'J y Date: 14th November, 2025 National Stock Exchange BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block, Dalal Street, Bandra (E), Mumbai-400051 Mumbai-400001 (NSE Scrip Code: SPMLINFRA) (BSE Scrip Code: 500402) Sub: Investor Presentation – Financial Result Regulat
Slide 2: Investor Presentation SPML Infra Limited
f. , `. 1"'1l~ - PH x .- . ' 'i' \ ~ . Q", I "N. 1._1 . F .:",> . _"- ~ . * \ 's * -= \ ," a 4. ~. -.1I¢~"1~ ' ~' , . . '. v - -u.._.. _ / . L /WA * ,/_ u w s. . • . v '. " I G mr# S P Engineering\ Life INVESTOR PRESENTATION SPML INFRA LIMITED November 2025 www.spml.co.in -..
Slide 3: Disclaimer
Disclaimer l.r SPML Frqingnrnu I 1-1 ~_, This document contains statements about expected future events and financial and operating results of SPML Infra Limited, which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inheren
Slide 4: Company Overview
Company Overview y »Ill V I lllll I l r HQ 1. l Engineering Life u-.. 1 -_ v ~») 1' 1. \\
Slide 5: India's Leading Integrated Water Management Company
India’s Leading Integrated Water Management Company with SPML Key focus on Water Wastewater & Energy Infrastructure Development L, Engmeerirwg Life ****+ l .. 1 .. 'D .. 'D D o .1 D C .. °. C, C, o.=" so 0 O01501 .2 o O o OQBc* .. Orc. 00201 . .. 1 . c .. .. 1' in 'n L Successfully completed 700+ tu
Slide 6: Our Journey
Our SPML Journey l Frqingnrnu ~_, I 1-1 1981 1982 1984 1995 1999 2000 • Incorporation • Ventured into • Initial Public • Ventured into • Completed 1st Industrial • Completed an EPC Water EPC and Offering on Hydro Power Water Supply Project - project in record time management nation’s premier develop
Slide 7: Recognitions for Exemplary Project Executions
- Recognitions for SPML Exemplary Project Executions Frqingnrnu ~_, I 1-1 Build India Infra Award 2025 conferred for Water Infra project EPC World Awards 2023 for Outstanding Contribution in Urban Infrastructure (Water Project) E . . . . I ""'l"l'l F dh Skoch Awards 2020 – Order of Merit Certificate
Slide 8: Experienced Board of Directors
Experienced Board of l.r SPML Directors Frqingnrnu ~_, I 1-1 Subhash Sethi, Chairman Abhinandan Sethi, Managing Director Chairman of SPML Infra Limited and group companies, he has As the Managing Director, he is spearheading company’s passionately driven his mission to create lasting value for the b
Slide 9: Experienced Board of Directors
Experienced Board of SPML -r Directors 'UI Frqingnrnu I 1-1 Arundhuti Dhar, Independent Director Nita Karmakar, Independent Director as. • A Business Leader with diverse experience in HR, Banking, • 40+ years in finance, management, corporate affairs, project Finance, Trade, Infrastructure and Prope
Slide 10: Experienced Key Officials
Experienced SPML Key Officials ,| Frqingnrnu I I-': - J 1-r Malay Kanti Chakraborti, Executive VP Vikas Sharma, VP – Finance and Accounts He has over 32 years of rich experience in the EPC sector, A CA & CS and PGCP from IIM Indore, has 23years of with extensive expertise in project management, expe
Slide 11: Experienced Key Officials
'_ - Experienced _|.- SPML Key Officials In Frgincurnu L I-': Ahmad Sajid Khan, VP Design Engineering Partha Roy, VP – Legal & Contracts He is an accomplished engineering professional with over He has over 20 years of multi-sector experience in 32 years of expertise in design engineering and project
Slide 12: Business Model & Opportunity Landscape
Business ~,. Model & o Opportunity lllll » Illl Landscape *` 'l, Ill .. Engineering \ Life i"\. Q..
Slide 13: Diversified Presence Across Water, Power & Energy Storage
Business Segments SPML Diversified Presence Across Water, Power & Energy Storage l Frainccrnu L l- `-' Water Intake | Treatment | Distribution | Recycling & Return to Source / • River to Reservoir: Bulk water abstraction, transmission pipelines, and reservoir construction; a core business vertical d
Slide 14: Water Sector Outlook
Water Sector Outlook lllll »Ill r y!! ' ° r Engineering Life WMltfu
Slide 15: Robust Business Model
Robust SPML Business Model Mincer fig \ Lrk: \" .".. =\1\l SPML manages complete water cycles with a focus on A \ I *nu "'~° a ..=.' e / saving water and protecting resources 51 H - 'l .11 . I pa ._, ea* A a . l* It includes raw water intake through rivers/canals/sea, water treatment, pumping L_ 4 I
Slide 16: Securing India's Water Future
SPML x Er-gain-'.:cr nu LII-G Securing India’s Water Future Water Supply and Distribution through our business solutions ~Rs. 1,150 cr, Isarda Dam, Rajasthan Drinking Water Supply and Management projects Superior Execution Track Record 10 years in O&M Water supply projects in Water EPC Sector(Till D
Slide 17: Key Focus Areas
x Build a Robust Order book Bid for fewer but larger projects with high margin fully funded and easy to execute pm.L HEr-ainccrnn Lil¢ Efficient mgmt. of Debtor Days Focus on Cash Rich States Robust selection of sub–contractors Basis their local presence, financial prowess and work execution ability
Slide 18: Positioned to Capitalize Structural Tailwind in India's Water Infra
!»=* PA SPML SPML Positioned to Capitalize Structural Er-gain-'.:cr nu LII-G Tailwind in India's Water Infra Segment India has a great opportunity to increase water supply infrastructure to meet growing demand Policy-Backed Water Infra Opportunity • Over Rs. 17 lakh crore pipeline of water infrastru
Slide 19: BESS Overview
BESS Overview y lllll » Illl Engineering Life u-.. W \\
Slide 20: Energy Market Overview
Energy Market Overview Pre-qualification to participate in BESS Tenders I Battery Energy Storage Systems (BESS): Projections: As per Central Electric Authority (CEA), and National Electricity Plan (NEP) • By 2026-27: India will need about 34.72 GWh of energy storage capacity specifically from BESS
Slide 21: Exclusive Tech Collaboration with Energy Vault
Exclusive Tech Collaboration with Energy Vault to Unlock Multi-GWh BESS Opportunity in India SPML Er-gain-'.:cr nu LII-G About Energy Vault About the Partnership Swiss-headquartered, NYSE-listed global leader in energy Exclusive 10-year agreement with Energy Vault storage for India Partnership guara
Slide 22: Battery Energy Storage Systems (BESS) Foray
Battery Energy Storage Systems (BESS) Foray 5_p M L Leveraging SPML’s Proven Power EPC Expertise Qiwnmnl | |- Proven EPC execution seamlessly translates to grid-scale BESS for smooth integration with existing infrastructure. The table below illustrates how SPML’s core strengths translate seamlessly
Slide 23: Powering India's Energy Storage Backbone
Powering India’s Energy Storage Backbone S? M L '$Iil'l"JDI" r111 L |.-: Building a Make-in-India BESS Integration Ecosystem • India’s renewable grid is entering its next growth phase — where energy storage becomes the new backbone of reliability, flexibility, and round-the- clock (RTC) power. • The
Slide 24: Capital-Efficient BESS Strategy
Capital-Efficient BESS Strategy §'PML Er<,lin-'.:l::r nu L 1-1 Why “Assembly + Integration” Is the Right Strategy Now SPML’s Advantage: Key Factor Cell Manufacturing BESS Assembly & Integration • Capital-efficient business model — Delivers faster RoCE and quicker payback Capital cycles. Rs.4,000-6,0
Slide 25: Execution Roadmap Underway
Exclusive Tech Collaboration with Energy Vault in place with Execution Roadmap Underway l ENERGY 'FAULT Lulu. r"*l -¢C.."-,.=»1I;l.a'-I.-'I;I.I s PM L Fr-:1i'l1';:l_Erllli I I- SPML has secured Phase 1 will deliver The company is This capacity will 99,000 sq. m. of 2.5 GWh of capacity committed to s
Slide 26: Operational Strength
Operational Strength lllll » Illl Ill r y!! .. ...... .. .. .. . ' ° r Engineering Life WMltfu \\ 1. W \
Slide 27: New Order Wins
New Order Wins \ *SPIRAL HEr-gin-mrnu I I-: Order Value Project Client Name/ Scheme Location Order Type (Rs. Cr) Public Health Engineering Jal Jeevan Mission Project (JV Rural Water Supply + 10-yr Department (PHED)-– Rajasthan (Bharatpur) 1,438 with JWIL Infra) O&M Consortium with 51% share I I \ n
Slide 28: Capital Positioning
Capital H' Positioning lllll » Illl Ill .. I. . . . :J r .... . .. . .. *I .. .. ,r g 1 ) I" 1' v Engineering Life W I"\u\§~\ \\ 1.
Slide 29: Resolution of Legacy Debt
. - NARCL/IDRCL ,SPML Resolution of Legacy Debt Eroincur l'l!l I I-: Significant Debt reduction Repayment from No interest outgo and No default in the & withdrawal of all proceeds of no repayment lenders’ liability actions of the lenders arbitration awards pressure on cash flow Total Debt (inclusive
Slide 30: Promoter-backed Turnaround
Preferential Allotment sPML Promoter-backed Turnaround El"I§-1136! we Net Worth (Rs. Cr) Successfully raised funds through preferential allotment The Preferential allotment of Rs. 346 crore (including conversion of debt of the lenders and the promoters), involves Rs. 190 crore contribution from the
Slide 31: Credit rating assigned by ICRA
./' SPNL HEr-gincurnn um '1 W 1 1 1 I I I S PML El'lQI'l'lEEl'il'"Q 1, LITe J 1 1 t] .r SPML Infra Limited has been assigned a credit rating by ICRA Instrument : Rating Action q I MII I I [ICRA] BBB-(Stable); Long Term-Fund Based- Credit Facilities assigned (Rated amount – Rs. 538 crore) I HHII I I
Slide 32: Financials (Standalone) FY25
FY25 $_.P M L Financials (Standalone) i11i""J'1I"1!l L I-': *Revenue (Rs. cr) #EBITDA (Rs. cr) PAT (Rs. cr) 62.9 49.3 1,122.6 38.9 788.2 19.5 FY24 FY25 FY24 FY25 FY24 FY25 Basic EPS (Rs) #EBITDA Margins PAT Margins 7.83 8.0% 6.3% 3.98 3.5% 1.5% FY24 FY25 FY24 FY25 FY24 FY25 *After excluding the one-
Slide 33: Financials (Standalone) H1 FY26
H1 FY26 *SPIRAL Financials (Standalone) HEr-gin-mrnu I I-: Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) 404.4 27.1 27.4 362.8 35.1 35.4 H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26 EBITDA Margins PAT Margins 9.8% 7.6% 8.7% 6.7% H1 FY25 H1 FY26 H1 FY25 H1 FY26 Investor Presentation 32
Slide 34: Financials (Standalone) Q2 FY26
Q2 FY26 *SPIRAL Financials (Standalone) HEr-gin-mrnu I I-: Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) 194.9 198.6 20.1 19.8 15.3 164.3 14.0 15.6 12.2 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 EBITDA Margins (%) PAT Margins (%) 10.3% 7.2% 7.4% 7.7% 9.5% 10.0% Q2FY25 Q1FY26 Q2F
Slide 35: Strengthening Balance Sheet (Standalone)
Strengthening *SPIRAL Balance Sheet (Standalone) HEr-gin-mrnu I I-: Debt (Rs. Cr)* Debt to Equity (x) Debt to EBITDA (x) 7.2 6.02 5.98 1.1 558 FY24 FY25 TTM 379 378 0.5 0.4 Current Ratio (x) 1.91 1.5 1.89 FY24 FY25 Sep-25 FY24 FY25 Sep-25 FY24 FY25 Sep-25 *Aforesaid Debt figure is after accounting f
Slide 36: Environmental, Social, & Governance
Environmental, Social, & Governance » Illl lllll Ill . . .. . . ... . \\'. . \la I .»=rI5é'6 -.. u '\ Engineering Life 1' \§\ 1.Q.
Slide 37: Aligned to National & International Frameworks
I Aligned to National & International Frameworks SEPMLr.gin::l:rir.g Life "L ESG focus areas identified by Management Water management | Wastewater management | Resource efficiency and waste management | Health & safety | People and team | Training, education and skill development | Corporate Govern
Slide 38: About SPML Infra
` PML ' About SPML Infra Engineer fig LH: SPML Infra Ltd. is a leading publicly listed infrastructure development company in India with a rich legacy encompassing over four decades. The company has executed and commissioned nearly 700 infrastructure projects across India, significantly contributing
Slide 39: SPML Infra Limited
/an l 1 ~ 'a »'* _#I's ll SPML INFRA LIMITED Kapil Joshi – Investor.relations@spml.co.in www.spml.co.in ADFACTORS PR PVT LTD Devyanshi Dave devyanshi.dave@adfactorspr.com +91 98923 30743 II* ___4. 1 _ Engineering Life