Any thoughts on company getting GST notices frequently
Is anyone able to access the tender document for this CETP project?
keen to understand the eligibility and technical guidelines
1 Like
The company has won orders worth 1178 crores since the beginning of the financial year.
4 Likes
#EIEL is where #Transrail was a few months ago.
With 40% growth
Fy26 PAT 247cr
Exit P/E can be 30 because management expects better than 35-40% growth in Fy27
So Fy26 expected Mcap 7434
Current Mcap 4288
Upside ~ 73%
242 —> 418
Management Interview ~ https://youtu.be/-QzLQp6b5DI?si=ECXlFQ1sQOaxIudy
#EnviroInfra
Concall Link ~
21:07 ~ We expect the company to grow at 35-40% for atleast 4-5 years.
Fy28 pat could be 450-500crores
800 -1000 price in next 2.5 - 3 years is very much possible.
#EnviroInfra #EIEL
Above 391.6 ~ IPO base high 601 levels opens up
4 Likes
The company has presented a very optimistic picture in its recent call. The company is projecting 35 to 40 % CAGR growth for the next 5 years and EBITDA guidance in the range 22 to 24 %. The company has explained the seasonality of the business well.
Usually, the projects execution picks up in the last 5 months of the year.
So far this year, they have been received orders worth 1178 crores this year. Most interesting of them is the MIDC ZLD order, which marks its foray into ZLD space. This year many of the STP players EMS Ltd, VA Tech Wabag have been reporting good order inflow.
EIL doesn’t have any de-salination projects, but has plans to venture into this field with some other partners.
The company is also L1 in many other projects and expects more order inflow.
They also mentioned that they prefer projects where land is readily available.
18 Likes
Just attended the conf call of EIEL
I could only join the second half.
One interesting takeaway is their revenue guidance on Renewable segment
Renewable segment contributed only 1.6 crore in H1 and they have guided 200 crore revenue from Renewable for this year and 500 crore for next year and then grow further by 40%
And this guidance is independent of their normal revenue guidance from water waste EPC projects
If this is achieved
The topline will grow from 100O cr in FY25 to 2000 cr in FY27
When asked about the revenue visibility on Renewable segment, management answered that orders would come and right now they are executing on some order related to solar from ONGC
Also for Renewable segment they guided margins close to 18-20%
Very interesting guidance from the co
Have been following the company recently so not much info or background about the management but management looked confident during the conf call
Associated risks with the company could be
• negative cash flows
• high receivables
• 50-60 cr from JJM(gov scheme) still stuck
• Bids conversation rate is low, during August bids stood around 4000 crore and only 5% got converted (latest 250 crore order)
• relying on government projects for revenues (water projects)
• long term borrowing shall further increase to fund ongoing projects
I missed the initial 25 mins so all details from the conf call might not be captured here
7 Likes
Good Breakdown.
3 Likes
- Mangament said they are confident about cash flow positive in this financial year.
- Receivable days is 50 days for H1 which is not very high for an EPC company.
- JJM receivable - mangements expects to start getting it after Q4 FY26.
- Bids conversion - Once you have submitted the bid, it takes 120-180 days to get the results. They are expecting 20-25% conversion. They guided for 2500cr fresh order intake in FY26 out of which 1450 cr of fresh orders they have already achieved. Most likely they will get more than 2500cr of fresh order in DY26.
- Water sector is a social sector, most of the orders will be from goverment only.
- Yes, long term borrowing will increase. They said they want to keep the debt to equity ratio at around 1:1
Dis: Biased and invested.
2 Likes
1 Like
- The Fresh Issue component, aggregating ₹ 57,234.96 lakhs, aims to meet Working Capital Requirements (₹ 18,100 lakhs), fund the Subsidiary EIEL Mathura Infra Engineers Private Limited for a 60 MLD STP project, and facilitate Repayment/prepayment of outstanding borrowings (₹ 12,000.00 lakhs).
2.Significant amounts are locked in ongoing arbitration/litigation against government bodies seeking recovery of dues (total disputed amount filed by the Company exceeds ₹ 26 crores). More critically, the existence of several large disputed receivables (totalling over ₹ 2,644.74 lakhs in civil litigations initiated by the Company)
: The Company provides corporate guarantees for borrowings taken by its subsidiaries. The Company provided unsecured, interest-bearing loans to its subsidiaries (₹ 5,505.00 lakhs as of March 31, 2025)
- • Anchorage Capital Fund - Anchorage Capital Scheme II held 30,60,000 Equity Shares, representing 2.24% of the pre-Offer equity share capital.
• Mukul Mahavir Agarwal held 18,00,000 Equity Shares, representing 1.32% of the pre-Offer equity share capital.
All the above information is from the DRHP and Prospectus.