Srm Contractors Ltd. · NSE:SRM
Srm Contractors — H1 FY26 Earnings Presentation
34 slides from Srm Contractors's earnings presentation, Nov 14, 2025
Slide 1: Covering letter: Investor Presentation for Q2 & H1 FY26
Date: 14-11-2025 To, The Manager, The General Manager, Department of Corporate Services Department of Corporate Services BSE Limited The National Stock Exchange of India Limited Floor 25, P.J. Towers, Plot No. C/1,GBlock, Bandra Kurla complex, Dalal Street, et, Mumbai – 400 001 Bandra, Mumbai – 400
Slide 2: Earnings Presentation 2Q & 1HFY26
Earnings Presentation 2Q &1HFY26
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”) has been prepared by SRM Contractors Ltd (the “Company”). The presentation has been prepared solely for information purpose and does not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Company Overview
Company Overview
Slide 5: Contents
Contents 01 Company Overview 02 Management Overview 03 Financial Highlights 1. About SRM Contractors Ltd 1. Background of Promoters 1. Recent Financial Performance – FY25 & 2. Business Overview - Scope of Services Q1FY26 2. Board of Directors 3. Primary Competitive Strengths 2. Analysis of Order Boo
Slide 6: Key Highlights of 2Q & 1HFY26
Key Highlights of 2Q & 1HFY26 • During the quarter, the company reported revenue from operations of Rs 192 crore. EBITDA stood at Rs 29 crore, resulting in an EBITDA margin of 15.49%. Profit after tax (PAT) for the quarter amounted to Rs 19 crore. For the half year revenue from operations of Rs 334
Slide 7: SRM Contractors: Building the Backbone of India's toughest terrains
SRM Contractors: Building the Backbone of India’s toughest terrains A leading infrastructure company with 17+ years of expertise in roadways, tunnels, bridges, and slope stabilization, backed by robust in-house capabilities and a strong track record across India’s toughest terrains. Key Business Roa
Slide 8: Infra Specialist with a Strategic Edge in difficult terrain
Infra Specialist with a Strategic Edge in difficult terrain 01 Proven Turnkey Execution 02 Strategically Positioned for Growth Partner • 50+ infrastructure projects delivered • Operates in high-margin, high-entry-barrier hilly terrain EPC niche. • Complete in-house capabilities, from design to deliv
Slide 9: Domain Expertise Across Diverse Business Verticals
Domain Expertise Across Diverse Business Verticals Provides end-to-end Provides end-to-end design and Provides design and design, construction, and construction solutions for construction solutions for slope maintenance solutions for tunnels, cut-and-cover structures, stabilization, including roads,
Slide 10: Record-Breaking Engineering Marvels
Record-Breaking Engineering Marvels SRM Contractors stands at the forefront of redefining infrastructure possibilities, delivering iconic engineering marvels in India’s most challenging and strategic environments. RS Wall Reasi, KRCL Precast Cut-and-Cover Tunnel, Leh, Ladakh Cavern, Hanle, Ladakh, B
Slide 11: Building Blocks of SRM Contractors
Building Blocks of SRM Contractors
Slide 12: Resilient Business Model
Resilient Business Model Road & Bridges Tunnel Slope Other Civil Projects Projects Stabilization Construction Activities • The Roads division designs, constructs, • The Tunnel division The Slope Stabilization upgrades, and maintains designs and constructs division designs and builds • The company al
Slide 13: Investment Thesis
Investment Thesis 01 02 03 04 Critical Backward In-house Design and Strategic Project Expertise in Challenging Integration Engineering Capabilities Clustering Geographies The company's centralized With integrated The business model focuses A proven track record of procurement and equipment in-house
Slide 14: Investment Thesis - Critical Backward Integration
1.1 Investment Thesis - Critical Backward Integration Investment in Equipment SRM had allocated ₹31.50 crore out of the ₹130.20 crore raised via fresh issue specifically toward equipment purchases and capex. Manage & Own its construction equipment in-house Expanding verticals SRM is now looking to g
Slide 15: Investment Thesis: In-house Design and Engineering Capabilities
1.2 Investment Thesis In-house Design and Engineering Capabilities Differentiators Strategic Core Solutions & Driving MIPL’s Acquisition Landmark Projects Growth Strategic Acquisition Manufacturing Strength Solutions Offered SRM secures a 51% stake in Maccaferri competitive advantage through MIPL’s
Slide 16: Investment Thesis: Strategic Project Clustering
1.3 Investment Thesis Strategic Project Clustering PAN India Presence Selective and Strategic Contracting Government's Future Initiatives • Operations spanning multiple states and Union • Rigorous evaluation of projects before bidding, • Projects are clustered geographically to Territories with plan
Slide 17: Investment Thesis: Expertise in Challenging Geographies
1.4 Investment Thesis Expertise in Challenging Geographies Expertise in Challenging Terrain • 17+ years in J&K & Ladakh, specializing in complex hilly infrastructure. 01 • Proven ability to manage steep gradients, sharp bends & extreme weather conditions. • Recent contract win in Uttarakhand further
Slide 18: Improving Financial Strength
Improving Financial Strength 0.43x Net Debt/Equity ROE & ROCE Pre-tax FY23 FY24 FY25 -0.19x -0.21x 39% BookBook to Ratio to Bill Bill Ratio 35% 28% 21% 20% 3.51 26% 2.72 2.44 1.73 FY23 FY24 FY25 1.44 1.32 1.26 RoE RoCE pre tax 0.86 FY2022 FY2023 FY2024 FY2025 SRM Peer Average Formula: 1. Net Debt to
Slide 19: Growth Outlook – In FY26
Growth Outlook – In FY26 Revenue EBITDA Guidance Guidance Rs 800crores 20%+ PAT & PAT Margin Expected Guidance Order Inflow 10%+ ~1000+ cr order in FY26 18
Slide 20: Strategic Acquisition - 51% stake in Maccaferri Infrastructure Pvt. Ltd.
Strategic Acquisition - 51% stake in Maccaferri Infrastructure Pvt. Ltd. (MIPL) Expanding Horizons: This strategic acquisition of 51% stake in Maccaferri Infrastructure Pvt. Ltd., a wholly owned subsidiary of an Strategic Acquisition of 51% Stake in 01 Italian multinational brand with presence in ov
Slide 21: Strategic Priorities (Next 2–3 Years)
SRM Contractors – Strategic Priorities (Next 2–3 Years) Growth Focus: Disciplined expansion • Capability deepening • Superior execution Diversification into HAM Geographic & Segment Expansion 01 Selective bidding on quality HAM projects (predictable cash flows) 04 Consolidate in core infra states li
Slide 22: Management Overview
Management Overview
Slide 23: Promoters & Directors
Promoters & Directors Mr. Sanjay Mehta Ms. Ashley Mehta Mr. Puneet Pal Singh Chairperson & Promoter Promoter & Non - Executive Director Promoter & Managing Director Sanjay Mehta is the Promoter of the Company. He completed his degree of Bachelor of Medicine and Ashley Mehta is a Non-Executive Direct
Slide 24: Directors
DIRECTORS Mr. Ankur Verma Mr. Yudhvir Gupta Mr. Sanjay Sharma Executive Director Independent Director Independent Director Mr. Ankur Verma is an Executive Director of our Yudhvir Gupta is an Independent Director Sanjay Sharma is an Independent Director company since October 01, 2025. appointed since
Slide 25: Directors
DIRECTORS Mr. Sushil Kumar Sharma Mr. Inder Jeet Kumar Independent Director Independent Director Sushil Kumar Sharma is an Independent Director Mr. Inder Jeet Kumar is an Independent Director of appointed since August 30, 2023. our company. He is a seasoned legal professional with over 24 years of e
Slide 26: Key Managerial Personnel
Key Managerial Personnel Mr. Arun Mathur Ms. Aashni Mahajan Company Secretary & Compliance Officer Chief Financial Officer Aashni Mahajan is the Chief Arun Mathur is the Company Secretary Financial Officer of our Company. and Compliance Officer of our She has been working with our Company. He has be
Slide 27: Financial Highlights
Financial Highlights
Slide 28: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) Particulars (INR in Cr) Q2FY26 Q2FY25 YoY% Q1FY26 QoQ% 1HFY26 1HFY25 YoY% Revenue from Operations 206.22 95 142 45.23 348.6 150 132.4 117.07 Gross Profit 111 33 49 126.5 158 56 182.14 236.36 EBITDA 31 18 22 40.91 52.6 29 81.379 72.222 EBITDA Margin % 14.88% 18%
Slide 29: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) Particulars (INR in Cr) FY 23 FY24 FY25 H1FY26 Revenue from Operations 300.3 342.4 528.1 348.6 Gross Profit 82.7 84.7 148.0 158.0 EBITDA 38.3 41.6 81.4 52.6 EBITDA Margin % 13% 12% 15% 15.11% Depreciation 7.8 8.9 13.6 5.8 Earnings Before Interest & Tax 30.5 32.
Slide 30: Recent Performance - FY25 Balance Sheet (Consolidated)
Financial Highlights - Recent Performance - FY25 Balance Sheet (Consolidated) Particulars FY23 FY24 FY25 1HFY26 Particulars FY23 FY24 FY25 1HFY26 Equity and Liabilities ASSETS Shareholders Funds NON-CURRENT ASSETS Equity Share Capital 16.74 16.74 22.94 22.94 Property, Plant and Equipment 39.47 39.84
Slide 31: Analysis of Order Book as on 30th September 2025
Analysis ofSlopeOrder Book as on 30th September 2025 Stabilization Arunachal 26% Pradesh Maharashtra 2% Gujarat 17% 15% Himachal Pradesh 5% Uttarakhand Tunnels Roads and 17% 9% Bridges 60% Odisha Jammu and 3% Leh Kashmir 9% 32% Segment Amount (in INR crs) Roads & Bridges 999.24 State Amount (in INR
Slide 32: Financial Highlights - Debt Profile
Financial Highlights - Debt Profile Long Term Debt Short Term Debt Key Insights Long-Term Borrowings under Non-Current Liabilities Short-Term Borrowings under Current Liabilities Substantial reduction in debt levels post listing demonstrating management’s commitment towards efficient capital allocat
Slide 33: Key Clients
an wwe KEY CLIENTS ‘aN RAST ACNE EM IRCON INTERNATIONAL LIMITED sot
Slide 34: Thank You
THANK YOU For further information, please get in touch : www.goindiaadvisors.com Saloni Ajmera Go India Advisors Tel: +91-99305 77801; E: saloni@goindiaadvisors.com Selina Sheikh Go India Advisors Tel: +91-84338 18768; E: selina@goindiaadvisors.com © 2025 SRM Contractors Ltd. Published in India. All