Swastika Infra Limited reported strong growth in revenue and profit for the second quarter of FY27, supported by faster project execution and an expanding order book. The power transmission and distribution engineering, procurement and construction (EPC) company announced its financial results for the quarter and half year ended September 30, 2026, on October 21.
Revenue for the second quarter increased 42%, while profit after tax (PAT) rose 80% compared with the corresponding period last year. The company’s unexecuted order book more than doubled to ₹1,420 crore from ₹687 crore as of March 31, 2026. The order book is equivalent to around 2.8 times its FY26 revenue.
Swastika Infra reported order inflows of approximately ₹950 crore during the year. It has also entered Maharashtra, extending its presence to nine states. Around 79% of the order book comprises projects funded by the World Bank, Asian Development Bank, central government and other multilateral funding agencies or corporations.
The company said execution slowed during the first quarter of FY27 because of price volatility and supply uncertainty affecting components amid disruptions linked to the Middle East conflict. As conditions normalised, project execution accelerated in the second quarter.
Swastika Infra expects to make up for the first-quarter slowdown during the second half of FY27, supported by its order book. The company expects full-year revenue growth to remain in line with the previous year, citing the industry’s usual pattern of higher execution in the second half.
Operating margins improved during the quarter, supported by a higher contribution from commissioning revenue and projects approaching completion milestones. The company expects full-year EBITDA margins to remain broadly in line with the previous year.
Finance costs are expected to decline in the second half, supported by proceeds from a recent fund-raising exercise. The company said a stronger capital base could also support an improvement in its credit rating over time, potentially reducing borrowing costs. It expects PAT margins to expand sustainably as operating margins normalise and relative finance costs decline. FY26 PAT margin was 8.2%.
Vinay Gupta, Managing Director of Swastika Infra, said the company’s listing on the NSE and BSE marked an important stage in its growth. He said the larger order book and presence across more states provided opportunities to participate in India’s expanding power infrastructure market, while the company would continue to focus on timely delivery, project management and financial discipline.
Headquartered in Jaipur, Rajasthan, Swastika Infra provides turnkey power transmission and distribution solutions, including substations, underground cabling, transmission and distribution lines, electrification and related infrastructure. The company operates across nine states and undertakes projects funded by multilateral institutions and other agencies.
