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OMINFRAL - Om Infra

📊 NSE: OMINFRAL 🏢 Engineering - Turnkey Services 📅 Last Updated: 12/14/2025 10:40

📢 Recent Corporate Announcements

OM Infra Q3 PAT Rises 74% to ₹8 Cr; Order Book Robust at ₹2,236 Cr Despite 9M Revenue Dip

🔵 WATCH ⭐ 7/10

EARNINGS 📅 12 Feb 2026, 01:38 PM

OM Infra reported a mixed set of results for 9M FY26, with consolidated revenue declining 37% YoY to ₹340 crore, primarily due to delayed payments in Jal Jeevan Mission (JJM) projects. However, Q3 FY26 showed signs of recovery with PAT increasing 74% YoY to ₹8 crore and EBITDA margins improving. The company maintains a strong order book of ₹2,236 crore, representing a book-to-bill ratio of 3.31x. Management expects liquidity to improve as pending JJM dues are progressively released and is targeting ₹1,000 crore in new orders for the fiscal year.

9M FY26 consolidated revenue stood at ₹340 crore, a 37% decline compared to ₹541 crore in 9M FY25.
Outstanding order book remains healthy at ₹2,236 crore, with ₹1,390 crore specifically from Jal Jeevan Mission projects.
Secured a new order worth ₹129 crore from Uttar Pradesh Jal Nigam (Urban) for water infrastructure development.
Successfully achieved a major milestone with water impounding at the ₹615.17 crore Isarda Dam project.
9M FY26 PAT of ₹14.1 crore exceeded PBT of ₹7.4 crore due to negative tax expenses from tax rebates.

💡 Investors should focus on the company's ability to resolve working capital cycles as JJM payments have been delayed for over nine months. While the order book provides strong visibility, the stock's performance will likely depend on the pace of execution and the normalization of cash flows from government contracts.

Om Infra Q3 FY26 Standalone Net Profit Rises 69% YoY to ₹6.07 Crore

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 06:41 PM

Om Infra reported a steady performance for Q3 FY26 with standalone revenue growing slightly by 1.3% YoY to ₹100.18 crore. Net profit saw a significant jump of 68.8% YoY, reaching ₹6.07 crore, although it declined slightly by 5.5% on a sequential basis. The company highlighted execution challenges in Jal Jeevan Mission (JJM) projects due to slow government fund releases but expects acceleration following a ₹67,000 crore budget allocation. Engineering remains the core segment, contributing over 96% of total revenue.

Standalone Net Profit surged 68.8% YoY to ₹6.07 crore from ₹3.60 crore in the previous year's quarter.
Revenue from operations remained relatively flat YoY at ₹100.18 crore compared to ₹98.92 crore.
The Engineering segment dominated performance with a revenue contribution of ₹96.46 crore.
Management noted a positive outlook for Jal Jeevan Mission projects following a ₹67,000 crore allocation in the Union Budget 2026.
Standalone EPS improved to ₹0.63 from ₹0.37 in the corresponding quarter of the previous year.

💡 Investors should monitor the pace of fund releases from the UP government and the execution of JJM projects, as these are critical for revenue acceleration. The stock remains a play on the government's water infrastructure and hydro-power push.

Om Infra's Rs 199.85 Cr NHPC Dibang Project Contracts Terminated

🔴 NEGATIVE ⭐ 7/10

OTHER 📅 24 Jan 2026, 06:19 PM

NHPC Limited has terminated two significant contracts awarded to Om Infra for the 2880 MW Dibang Multipurpose Project in Arunachal Pradesh. The contracts, valued at approximately Rs 167.87 crore and Rs 31.98 crore, were for hydro-mechanical works including intake and draft tube gates. The termination is cited as 'Employer's Convenience' due to prevailing site conditions that would have caused significant delays beyond NHPC's control. While the performance security will be returned, this represents a notable reduction in the company's active order book.

Termination of two contracts for the 2880 MW Dibang Multipurpose Project by NHPC Limited.
Combined value of the terminated contracts totals approximately Rs 199.85 crore.
Reason for termination is 'Employer's Convenience' due to site-related delays, not company default.
NHPC confirmed that performance securities for these contracts will be duly discharged.
The work was originally scheduled to commence on January 27, 2026.

💡 Investors should account for the reduction in the order book and potential impact on future revenue projections. Monitor management commentary regarding the replacement of this order value with new project wins.

Om Infra Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jan 2026, 06:08 PM

Om Infra Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Skyline Financial Services Private Limited, confirms the processing of share dematerialization requests for the quarter ended December 31, 2025. This is a mandatory procedural filing for all listed Indian companies to ensure accurate shareholding records. It indicates that the company is adhering to standard regulatory protocols regarding its equity shares.

Compliance certificate submitted for the quarter ended December 31, 2025
Issued by Registrar and Share Transfer Agent, Skyline Financial Services Private Limited
Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018
Standard administrative filing with no impact on financial performance

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly financial results and order book updates for fundamental analysis.

Om Infra Limited Announces Trading Window Closure Starting January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Dec 2025, 04:51 PM

Om Infra Limited has informed the stock exchanges that its trading window for designated persons will be closed starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter ended December 31, 2025. The window will remain closed until 48 hours after the unaudited financial results are officially announced. This is a standard regulatory procedure for listed companies in India.

Trading window closure effective from January 1, 2026.
Closure pertains to the financial results for the quarter ending December 31, 2025.
Window to reopen 48 hours after the declaration of the unaudited financial results.
Applicable to all Designated Persons and their immediate relatives as per SEBI norms.

💡 No action is required as this is a routine regulatory compliance filing. Investors should await the announcement of the quarterly financial results for performance assessment.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for H1FY26 was INR 228 Cr, a 44.1% decrease from INR 408 Cr in H1FY25. The Engineering segment (standalone) contributed INR 219.27 Cr in H1FY26, down 42.5% YoY from INR 381.21 Cr. Real Estate segment revenue (standalone) remained stagnant at INR 1.38 Cr for H1FY26 compared to H1FY25.

Geographic Revenue Split

Revenue is primarily generated from India, with a focus on Rajasthan. International revenue includes INR 1.97 Cr from a branch in Nepal. The company also has project exposure in Rwanda and Ghana through joint ventures.

Profitability Margins

Operating margin for FY25 was 16.74%, up from 15.42% in FY24. However, the PAT margin for H1FY26 declined to 3% from 4% in H1FY25. Net profit for H1FY26 was INR 6 Cr, a 63% drop from INR 17 Cr in H1FY25.

EBITDA Margin

Consolidated EBITDA margin contracted to 3% in H1FY26 from 8% in H1FY25, representing an 82.8% YoY decline in absolute EBITDA value to INR 6 Cr.

Credit Rating & Borrowing

The company's credit rating was downgraded to CARE BBB-; Stable (Long-term) and CARE A3 (Short-term) on September 26, 2025. Finance costs for H1FY26 were INR 9 Cr, a 20% reduction YoY.

⚙️ Operational Drivers

Raw Materials

Steel, cement, and specialized fabrication components for hydro-mechanical systems.

Capacity Expansion

Current installed fabrication capacity is 15,000 MTPA at the Kota, Rajasthan unit. Planned expansion details are not disclosed.

Manufacturing Efficiency

The company operates a 15,000 MTPA fabrication unit. Efficiency is monitored through project execution timelines and cost optimization strategies.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the extension of the Jal Jeevan Mission (JJM) scheme till December 2028, which has a government allocation of INR 67,000 crore. The company plans to ramp up order execution post-monsoon from Q3FY26. Strategic monetization of real estate assets like Pallacia (Jaipur) and Om Meadows (Kota) and a 17.5% stake in a 2 Mn sq.ft development with Valor Estate are also key drivers.

Products & Services

Hydro-mechanical gates, hoists, dams, EPC civil construction, and residential real estate units.

Brand Portfolio

Pallacia, Om Meadows.

Market Expansion

Exploring new geographical markets in Africa (Rwanda, Ghana) and synergistic segments within the infrastructure domain.

Strategic Alliances

Partnerships include Valor Estate (17.5% stake), SPML Joint Venture (Rwanda, Ghana), and various JVs with HCC, JWIL, and VKMCPL.

🌍 External Factors

Industry Trends

The industry is shifting towards large-scale government-funded water infrastructure (JJM) and hydro-power. The JJM scheme extension to 2028 is a key future driver.

Competitive Landscape

Operates in the civil construction and engineering sector, competing with other EPC contractors for government infrastructure projects.

Competitive Moat

The company has a durable advantage in specialized hydro-mechanical equipment (gates and hoists) for dams, supported by a 15,000 MTPA fabrication unit. This niche expertise and long-standing government relationships create high entry barriers.

Macro Economic Sensitivity

Highly sensitive to government infrastructure spending and Union Budget allocations for the Jal Jeevan Mission (INR 67,000 Cr).

Consumer Behavior

Demand for residential real estate in Rajasthan affects the monetization of projects like Pallacia and Om Meadows.

Geopolitical Risks

Exposure to geopolitical uncertainties in African markets (Rwanda, Ghana) and cross-border operations in Nepal.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by Jal Jeevan Mission guidelines, pollution norms for fabrication units, and Ind AS 108 for segment reporting.

Taxation Policy Impact

The company follows Indian Accounting Standards (Ind AS). It recorded a tax credit of INR 5 Cr in H1FY26.

Legal Contingencies

The company is involved in a significant arbitration case regarding Bhilwara Jaipur Toll Road Private Limited (BJTRPL), with a claim value of approximately INR 700 crore currently in the High Court. There is also an audit qualification regarding the Nepal branch due to missing records for INR 1.97 crore in revenue.