SETUINFRA - Setubandhan Inf.

📊 NSE: SETUINFRA 🏢 Construction 📅 Last Updated: 12/14/2025 13:02

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations was INR 6,998.83 Lakhs in FY23, representing a 36.47% decline from INR 11,017.51 Lakhs in FY22. Segment-specific growth percentages are not disclosed.

Profitability Margins

Net Profit Margin was 0.13% in FY23 (INR 9.13 Lakhs profit on INR 6,998.83 Lakhs revenue), improving from a net loss margin of -5.55% in FY22. Profitability is heavily constrained by construction expenses which account for 90.8% of revenue.

EBITDA Margin

EBITDA margin stood at 2.61% for FY23, reflecting core operational profitability, which improved from -3.22% in FY22.

Capital Expenditure

Property, Plant and Equipment (Net Block) was INR 2,961.27 Lakhs as of March 31, 2023. Specific planned capital expenditure is not disclosed.

Credit Rating & Borrowing

Total borrowings are INR 7,853.9 Lakhs, comprising INR 7,123.93 Lakhs in current borrowings and INR 729.97 Lakhs in non-current borrowings. Credit ratings and specific interest rate percentages are not disclosed.

⚙️ Operational Drivers

Raw Materials

Construction materials (including materials for infrastructure projects) represent 90.8% of the total revenue cost.

Raw Material Costs

Raw materials and construction expenses totaled INR 6,354.89 Lakhs, accounting for 90.8% of revenue. This represents a 43.00% YoY decrease in absolute cost terms due to reduced operational scale.

📈 Strategic Growth

Growth Strategy

The primary strategy for growth and survival is the successful completion of the Corporate Insolvency Resolution Process (CIRP) under the supervision of the Resolution Professional, Sandeep D. Maheshwari, to stabilize the balance sheet and address the INR 7,853.9 Lakhs debt.

Products & Services

Infrastructure construction services, commercial premises development, and Transferable Development Rights (TDR).

Brand Portfolio

Setubandhan Infrastructure Limited, Prakash Constrowell Limited.

Strategic Alliances

Strategic investments include the Godavari Partnership Firm (INR 36.62 Lakhs) and The North Infra (INR 8.84 Lakhs).

🌍 External Factors

Industry Trends

The infrastructure sector is currently seeing a consolidation phase where companies with high debt are entering insolvency resolution. Setubandhan is positioned in this restructuring phase, with its future dependent on the successful implementation of a resolution plan to address its INR 78.54 Cr debt.

⚖️ Regulatory & Governance

Industry Regulations

The company's operations are currently governed by the Insolvency and Bankruptcy Code (IBC) 2016 and the Corporate Insolvency Resolution Process (CIRP).

Taxation Policy Impact

The current tax rate was approximately 4.64% in FY23, based on a current tax expense of INR 2.54 Lakhs on a Profit Before Tax of INR 54.67 Lakhs.

Legal Contingencies

The company has not disclosed the impact of pending litigations on its financial position; no specific case values or details are available in the financial statements.

⚠️ Risk Analysis

Key Uncertainties

1. Outcome of the CIRP process (High impact). 2. Financial impact of undisclosed pending litigations. 3. Ability to secure new construction contracts without long-term agreements.