NSEPress Release22 Oct 2026 · 22 Oct 2026, 09:34 am
Press Release
Swastika Infra Limited · SWASTIKAIN
✦ AI Summary▲ PositiveResults
Swastika Infra Limited has announced its Q2 FY27 financial results, with revenue surging 42% YoY, PAT jumping 80% YoY, and order book more than doubling to ₹1,420 Cr. The company expects to make up for the Q1 slowdown in H2, supported by a robust order book.
Analysis Scores
Earnings Impact8/10
Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment9/10
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Full Announcement
Swastika Infra Limited has informed the Exchange regarding a press release dated October 22, 2026, titled "Press Release under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ".
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22nd October, 2026
To To
Sr. General Manager Sr. General Manager
Listing Department Listing Department
BSE Limited National Stock Exchange of India
Phiroze Jeejeebhoy Towers Limited
Dalal Street Exchange Plaza, C-1, Block G
Mumbai – 400 001 Bandra Kurla Complex
Bandra (E), Mumbai – 400 051
Scrip code: 544949
Scrip symbol: SWASTIKAIN
Dear Sir/Madam,
Sub: Press Release under Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015
With reference to the captioned subject, please find enclosed press release on the Un-
audited Financial Results of the Company for the quarter and half year ended September
30, 2026.
Kindly take on record the same and oblige us.
Thanking you,
Yours faithfully,
For Swastika Infra Limited
Shipra Gandhi
Company Secretary and
Compliance Officer
Membership No.: A68405
Address: Plot no.14 &15, First Floor, Gajraj Apartment
Motilal Atal Road, Opposite Hotel Neelam, Jaipur – 302 001
Rajasthan, India
Building Momentum for the Next Growth Wave - Rising Profit, Growing Orderbook
Swastika Infra Delivers Powerful Q2 FY27 Performance: Revenue Surges 42%, PAT
Jumps 80%; Order Book More Than Doubles To ₹1,420 Crore
Jaipur, October 22, 2026: Swastika Infra Limited (BSE: 544949 | NSE: SWASTIKAIN) (“Swastika
Infra” or the “Company”), one of the leading Power Transmission & Distribution (T&D) EPC company,
announced its financial results for the quarter and half year ended September 30, 2026 on October 21,
2026.
Financial Performance Snapshot: Strong Growth Across Key Financial Parameters
Revenue EBITDA PAT
Q2 FY27 ₹148 Cr ₹27 Cr ₹16 Cr
Unexecuted order book
▲ 42% YoY ▲ 65% YoY ▲ 80% YoY ₹1,420 Cr
▲ 2.1x vs Mar 31, 2026
Revenue EBITDA PAT
H1 FY27 ₹207 Cr ₹35 Cr ₹20 Cr
▲ 5% YoY ▲ 29% YoY ▲ 35% YoY
ORDER BOOK HIGHLIGHTS
▪ Unexecuted order book more than doubled to ₹1,420 Cr, from ₹687 Cr as on Mar 31,2026.
▪ The unexecuted order book stands at ~2.8x FY26 revenue, providing strong revenue visibility.
▪ Order inflows of ~₹950 Cr during the year, indicating strong business momentum.
▪ Entered new state of Maharashtra, one of the largest markets for Power T&D investment -
Company’s presence extends to 9 states, further diversifying the order book.
▪ 79% of our order book comprise of projects funded by World Bank, ADB, central government and
other multi-lateral funding agencies/corporations, thereby reveals low dependence on state
government funds.
Order book mix:
Segment % of Order Book
Distribution 85%
Renewable 8%
Transmission 6%
Total 100%
FINANCIAL HIGHLIGHTS
Revenue
▪ During Q1FY27 company’s execution slowed down, as a prudent measure consequent to sharp
increase in “price volatility and supply uncertainty” of components due to middle east war
disruption.
▪ As the situation normalised, execution accelerated in Q2FY27, evident from the strong revenue
growth during the quarter.
▪ Our execution is typically weighted towards H2 in line with the industry wide practice, the
Company expects to make up for the Q1 slowdown in H2, supported by a robust order book. As
such, overall yearly growth expected to be in line with the previous year.
Operating Margins
▪ Higher margins were driven by higher share of commissioning revenue and certain projects nearing
completion milestones.
▪ On full-year basis, the Company expects EBITDA margins to remain in line with the previous year.
Finance Cost
▪ Finance cost is expected to be lower in H2FY27, supported by the proceeds of the recent fund raise
▪ A stronger capital base positions the Company for an improvement in its credit rating over time,
which would further reduce borrowing costs.
PAT Margins
▪ Given the EBITDA margin normalisation and reduction in relative finance cost on full year basis,
PAT margins to derive sustainable expansion as compared to previous year (FY26 PAT margin
was 8.2%).
MANAGEMENT COMMENTARY
Commenting on the performance, Mr. Vinay Gupta, Managing Director, said:
“Our listing on NSE and BSE marks an important milestone in our journey. The expansion of our order
book, together with our growing presence across geographies, reinforces our ability to participate in
India’s evolving power infrastructure landscape. Historically, we have maintained healthy conversion
of our order book into revenue, supported by our execution capabilities and disciplined project
management. This track record gives us confidence in our ability to execute our significantly larger
order book, which currently provides nearly 2.8 times FY26 revenue.
With continued investments in power transmission and distribution infrastructure, we see opportunities
to further strengthen our market presence. Our focus remains on timely project delivery, operational
efficiency and prudent management of financial and human resources. We will continue to pursue
opportunities aligned with our execution capabilities, while maintaining a disciplined approach to
sustainable, long-term growth.”
ABOUT SWASTIKA INFRA LIMITED
Headquartered in Jaipur, Rajasthan, Swastika Infra Limited is a Power T&D EPC company providing
end-to-end turnkey solutions across substations, underground cabling, transmission and distribution
lines, electrification and allied infrastructure. With a presence across 9 states, the Company undertakes
projects across the complete execution lifecycle, with a significant focus on projects funded by
multilateral institutions.
DISCLAIMER
Certain statements in this press release may be forward-looking statements and/or based on
management’s current expectations and beliefs concerning future developments and their potential
effects upon Swastika Infra Ltd. The forward-looking statements are not a guarantee of future
performance and involve risks and uncertainties and there are important factors that could cause actual
results to differ, possibly materially, from expectations reflected in such forward-looking statements.
Swastika Infra Ltd. does not intend, and is under no obligation, to update any forward-looking statement
contained in this press release.