Capacite Infraprojects Ltd

Resignation: Director-Operations & CEO

• Type: Resignation of Director-Operations & CEO, ceasing as Senior Management Personnel.
• Name and designation: Mr. Rajendra K Jain, Director-Operations & CEO.
• Effective date: close of working hours August 18, 2026.
• Reason: resignation; no other material reasons stated.
• Brief profile: Not Applicable.
• Relationship disclosure: Not Applicable.
• Impact on board/committee: Not specified.

Financial Performance

• Q1 FY27 revenue ₹629 crores, up 7% YoY from ₹589 crores.
• EBITDA ₹99 crores, down 3% YoY from ₹102 crores.
• EBITDA margin 15.7% vs 17.2% in Q1 FY26.
• EBIT ₹80 crores, down 8% YoY from ₹87 crores.
• Order book ₹13,535 crores as on 30 June 2026.
• Public sector 55%, private sector 45% of total order book.
• FY27 order inflow target between ₹4,500 crores and ₹5,000 crores; ₹1,071 crores booked so far.
• Promoter pledge reduced to 50 lakh shares; full release targeted by year-end.

Operating Update

• IIT Bombay ₹550 crores project to start in Q2 due to permissions.
• NBCC revenue expected to triple from current quarter.
• First IIT building handed over; design approved; execution started.
• Right-of-way issues with clients may delay some projects.
• Labour shortage resolved; 7,000 workers now on-site; uptick expected in Q2.
• Monsoon run-rate can touch about ₹850 crores to hit full-year guidance.
• Guidance reaffirmed: 20% YoY revenue growth for FY27.
• Capex for full year targeted ₹193 crores; Q1 capex ₹52.2 crores.

Balance Sheet and Cash Flow

• Gross debt ₹522 crores; net debt-free target in 8 quarters.
• Provision of ₹10 crores in current quarter due to nonferrous metal price volatility.
• Most of this provision expected to reverse in Q3-Q4 if indices normalise.
• CIDCO unbilled revenue ≈₹300 crores; MHADA unbilled revenue ≈₹200 crores.
• Contract assets plus debtors ≈78% of top line as on 31 March.

Projects and Capex

• Capex target for the year ₹193 crores; SAP go-live in Q3.
• CIDCO Maha Awas DRS housing and Chennai Metro commercial complex expected to convert this month.
• CIDCO remaining backlog ≈₹2,000 crores plus escalation; total order book reflects higher potential.
• Debt profile to reduce year-on-year; equipment expansion may push net debt minorly.
• Bid pipeline: public ₹22,000 crores; private ₹5,000 crores for Q2 and Q3.

Outlook and Guidance

• FY27 revenue growth guidance set at 20% YoY; on track.
• FY27 order inflow target ₹4,500–₹5,000 crores.
• Revenue ramp expected from CIDCO, NBCC, IIT Bombay starting next quarters.
• Net working capital improvement expected; net debt-free target remains eight quarters.

Q&A

• IIT Bombay delay explained; revenue anticipated in next two quarters.
• CIDCO and MHADA ramp expected; NBCC revenue to rise; IIT start in coming quarters.
• Capex mix includes SAP, formwork and machinery; debt impact linked to equipment purchases.
• Bid pipeline clarified: public sector heavy; private sector opportunities being pursued.
• Contract assets and debtors remain high; management committed to reducing them over time.
• Most provision reversal contingent on inflation indices; some upside possible if indices normalise.

Meeting Details

• Date of call: August 10, 2026.
• Event: Audio recording of the earnings call for Q1 ended June 30, 2026.
• Organiser: Capacit'e Infraprojects Limited.
• Key company participant: Company Secretary & Compliance Officer.
• Purpose: discuss operational and financial performance for Q1 ended June 30, 2026.
• Recording availability: audio recording available on the company website.

Business Overview

• Capacit'e Infraprojects is an EPC contractor focused on end-to-end building and factory construction.
• Operations span residential, commercial, and institutional segments with large public-sector projects.
• Strong execution track record; delivered over 75 million square feet across buildings.

Operational Highlights

• Q1 FY27 execution impacted by workmen shortage; now normalized with higher on-ground workforce.
• BMC water supply suspension in Mumbai from June 17, 2026 partially affected sites.
• Commodity price volatility pressured margins; additional provision of ₹10 crore recorded.
• FY27 order inflow target ₹4,500–₹5,000 crore; orders booked ₹1,071 crore to date.
• Asset monetization: ₹6.5 crore realized in Q1 FY27; FY27 target ₹50 crore.

Financial Performance

• Revenue from operations ₹628.9 crore, up 7% YoY.
• Total income ₹639.2 crore; EBITDA excluding other income ₹98.7 crore; margin 15.7%.
• EBIT ₹79.8 crore; EBIT margin 12.5%.
• PAT ₹39.8 crore; PAT margin 6.2%.
• Cash PAT ₹71.2 crore; cash PAT margin 11.1%.
• Net debt-to-equity 0.16x; gross debt-to-equity 0.27x as of 30 Jun 2026.
• Cash and cash equivalents ₹91 crore.
• Operating cash flow FY26 ₹223 crore.

Capital Structure & Liquidity

• Net debt-to-equity 0.16x; gross debt-to-equity 0.27x on 30 Jun 2026.
• Cash balance ₹91 crore; modest borrowings and prudent liquidity.

Strategic Priorities & Outlook

• Revenue growth momentum to accelerate over remaining three quarters of FY27.
• Strong bid pipeline supports FY27 targets and execution quality.
• FY27 asset monetization with ₹50 crore target; realizations ongoing.
• Execution capability strengthened by labour availability improvements.

Risks & Mitigation

• Mumbai water supply disruption earlier; mitigated by alternate water sources.
• Worker shortage earlier; labor availability is improving.
• Commodity price volatility risks margins; company has taken additional provisions.

Governance & Leadership

• Executive Chairman: Rohit Katyal; MD & CEO: Rahul Katyal; Whole-Time Director: Subir Malhotra.

Key Financial Highlights

• Revenue from operations ₹629 crore in Q1 FY27, up 7% YoY.
• EBITDA ₹99 crore; EBITDA margin 15.7%.
• EBIT ₹80 crore; EBIT margin 12.5%.
• PAT ₹40 crore; PAT margin 6.2%.
• Cash PAT ₹71 crore; cash PAT margin 11.1%.
• Gross debt ₹522 crore; gross debt/equity 0.27x.
• Net debt to equity 0.16x.
• Standalone order book ₹13,535 crore as of June 30, 2026.
• Public sector 55%, private sector 45% of the order book.
• YTD order booking ₹1,071 crore.

Outlook and Operations

• Execution normalised after workmen shortages and Mumbai water restrictions.
• Robust bid pipeline supports stronger order awarding momentum.
• Outlook: expects to achieve guided FY27 performance in remaining quarters.

Standalone financials

• Standalone revenue from operations stood at ₹52,032.61 lakh in Q1 FY2026-27.
• Standalone total income was ₹52,841.07 lakh for the quarter.
• Standalone PAT: ₹3,530.54 lakh.
• Standalone EPS: ₹4.17 (basic/diluted).

Consolidated results

• Consolidated revenue from operations: ₹62,893.40 lakh.
• Consolidated total income: ₹63,924.20 lakh.
• Consolidated PAT: ₹3,984.21 lakh.

Geographic mix

• Standalone India revenue: ₹51,840.94 lakh; outside India ₹191.67 lakh.
• Consolidated India revenue: ₹55,959.35 lakh; outside India ₹6,934.05 lakh.

Receivables & risk

• Long-outstanding trade receivables: ₹5,492.76 lakh; recoverability under legal action.
• Auditors flag recoverability uncertainties on the noted receivable.

Notes on segments

• Group operates EPC contracts; single segment for standalone and consolidated results.

Meeting Details

• Date and time: Monday, August 10, 2026 at 2:00 pm IST.
• Mode: virtual earnings call.
• Organizer: Capacit'e Infraprojects Limited.

Participants

• Key company participants: Executive Chairman, CFO, ED – Finance, ED – Accounts & Taxation.

Purpose

• Discuss Q1 FY27 operational and financial performance.

Additional Notes

• Disclosure will be available on the company website.

AGM Details

• AGM held July 24, 2026 via Video Conferencing; record date July 17, 2026.

Key Resolutions and Voting Outcomes

• Ordinary: Adoption of standalone and consolidated financial statements passed.
• Ordinary: Re-appointment of Rahul Katyal as Director liable to retire by rotation passed.
• Ordinary: Re-appointment of Subir Malhotra as Whole Time Director passed.
• Ordinary: Ratification of remuneration payable to Cost Auditor passed.
• Special: Alteration of Object Clause of Memorandum of Association passed.
• Ordinary: Renewal of commission payable to Independent Directors passed.

Dividend

• No dividend proposed or approved.

Contract win: Twenty-Five Downtown Realty Limited

• Secures ₹482 crore work order from Twenty-Five Downtown Realty Limited for Tower T5.
• Scope covers civil works and civil finishes for Tower T5, Mahalaxmi, Mumbai.
• Contract value excludes taxes and cess.
• Promoters and promoter group have no interest in awarding entity.
• Order not a related party transaction.
• Trading window closed for 48 hours post-disclosure.
• Disclosures issued via press release accompanying the filing.
• Project located at Mahalaxmi, Mumbai; Super High-Rise category.