Synopsis:
SPML Infra Limited has received a Rs. 1,073 crore order from Indore Municipal Corporation under AMRUT 2.0 to upgrade the city’s water supply system. The contract includes a 10-year operation and maintenance period.
A small-cap company engaged in the business of infrastructure development is in the spotlight after securing a new domestic work order worth Rs. 1,073 crore from Indore Municipal Corporation.
With the market capitalization of Rs. 2,129 crore, the shares of SPML Infra Limited is trading at Rs. 296.45, down by 0.50 percent from its previous day’s close price of Rs. 297.95 per equity share, and it has reached a high of Rs. 309.90 on the same trading day.
Work Order
SPML Infra Limited, India’s leading water infrastructure developer, has bagged a Rs. 1,073 crore project from Indore Municipal Corporation under the AMRUT 2.0 program. The project aims to strengthen Indore’s water supply system and includes a 10-year operation and maintenance contract to ensure reliable water access for over 2 million residents.
The project will set up a 1,650 MLD intake system with a raw water pumping house, a 400 MLD water treatment plant, booster pumping stations, 22 km of pipelines (1200mm to 2377 mm diameter), and a 132/33 kv substation to support the water supply operations. It will be finished in 30 months, followed by a 10-year operation and maintenance contract to keep Indore’s water supply running smoothly and reliably.
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Management View
SPML Infra Chairman, Mr. Subhash Sethi, stated that the Indore water project under AMRUT 2.0 demonstrates the company’s expertise in delivering large, advanced, and sustainable water infrastructure. He stated that the project will improve the quality of life for residents, demonstrate SPML’s global capabilities, and reflect the company’s commitment to India’s development and the Viksit Bharat vision.
About the Company & Others
SPML Infra Limited is a leading infrastructure company with over 40 years of experience in power, water, the environment, and technology. It has completed more than 700 projects in India, providing vital infrastructure such as drinking water systems, wastewater treatment, sewerage networks, waste management, and power solutions to over 50 million people.
A return on equity (ROE) of about 7.79 percent and a return on capital employed (ROCE) of about 8.92 percent demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 45.2x as compared to its industry P/E 21.1x. The debt-to-equity ratio stands at 0.48.
For Q1 FY26, its revenue from operations declined by 24.64 percent from Rs. 207 crore in Q1 FY25 to Rs. 156 crore in Q1 FY26, accompanied by profits decreased by 7.69 percent from Rs. 13 crore in Q1 FY25 to 12 crore in Q1 FY26.
Written by Akshay Sanghavi
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