TRANSWIND - Transwind Infra.

📊 NSE: TRANSWIND 🏢 Engineering - Turnkey Services 📅 Last Updated: 12/14/2025 14:31

💰 Financial Performance

Revenue Growth by Segment

S & T Work revenue grew 129.16% YoY to INR 16.01 Cr; Gas Distribution Work revenue declined 17.46% YoY to INR 2.59 Cr; Civil Work revenue decreased 0.93% YoY to INR 4.25 Cr; Irrigation work revenue fell 91.45% YoY to INR 0.03 Cr.

Geographic Revenue Split

Not disclosed in available documents; however, the company is headquartered in Ahmedabad, Gujarat.

Profitability Margins

Operating Profit Margin improved from 13.71% to 16.81% (a 22.6% increase) due to higher profitability in S&T projects. Net Profit Margin declined from 3.69% to 2.54% (a 31.16% decrease) primarily due to higher tax and interest expenses.

EBITDA Margin

Operating Profit Margin stands at 16.81% for FY 2024-25, showing a YoY improvement of 310 basis points from 13.71% in FY 2023-24.

Capital Expenditure

Purchase of fixed assets amounted to INR 0.92 Cr in FY 2024-25, compared to INR 0.045 Cr in the half-year ended September 30, 2025.

Credit Rating & Borrowing

Not disclosed in available documents; however, interest coverage ratio improved to 13.67 from 11.04, indicating better debt-servicing capacity.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include MDPE (Medium Density Polyethylene) pipes for gas distribution, quad cables, and optical fiber cables for telecom maintenance.

Capacity Expansion

Not disclosed in available documents; the company operates as a service provider in construction and infrastructure maintenance.

Raw Material Costs

Not disclosed as a specific line item; however, total expenses for H1 FY2025-26 were INR 10.80 Cr against a total income of INR 11.67 Cr.

Manufacturing Efficiency

The company operates in a single segment (Construction) with an inventory turnover ratio of 4.34, which slightly declined by 7.78% YoY.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

Growth Strategy

The company aims to leverage the increased government capital investment outlay of INR 10 Lakh Crores in Budget 2024-25, focusing on Railways, Road, and Urban Infrastructure. Growth is driven by diversifying into MDPE gas pipeline laying and maintaining quad/optical fiber cables.

Products & Services

MDPE gas pipeline laying, installation and commissioning; maintenance of quad cable and optical fiber cable; civil construction; and irrigation works.

Brand Portfolio

Transwind Infrastructures Limited.

New Products/Services

The company has expanded into domestic gas pipeline (MDPE) laying and commissioning, which contributed INR 2.59 Cr to FY 2024-25 revenue.

Market Expansion

Targeting opportunities in the 8 Core Infrastructure Sectors including natural gas and refinery products following government initiatives.

🌍 External Factors

Industry Trends

The infrastructure sector is evolving with a focus on private infrastructure players in Railways and Urban Infrastructure. The industry is growing supported by government initiatives like the Investment Finance Secretariat.

Competitive Landscape

Operates in a competitive infrastructure sector alongside private players vying for government contracts in road and rail sectors.

Competitive Moat

The company's moat lies in its specialized technical expertise in MDPE gas pipeline laying and telecom cable maintenance, which are niche areas within the broader construction industry.