ArisInfra Solutions Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript ArisInfra Solutions Ltd filed with BSE on 07 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Arisinfra Solutions reported Q1 FY27 revenue of Rs 291 crore, up 37% YoY, with EBITDA of Rs 31 crore, up 68% YoY, and EBITDA margin at 10.49%. Management attributed margin expansion to a higher mix of contract manufacturing and Developer-as-a-Service (DaaS) revenue, which together rose to 63% of the business from about 46%. The company also reported a new DaaS mandate worth Rs 650 crore from the Wadhwa Group in Mumbai and an increase in gross development value under execution to over Rs 1,800 crore.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR 291 crores (Q1 FY27)
p. 4
“For the quarter under review, the revenue from operations stood at INR 291 crores, registering a strong growth of 37% YoY.”
Bhavik Khara, page 4 of the filed PDF · View the filing
EBITDA: INR 31 crores (Q1 FY27)
p. 4
“EBITDA for the quarter grew 68% YoY to INR 31 crores, with EBITDA margins improving by 191 basis points YoY to 10.49%.”
Bhavik Khara, page 4 of the filed PDF · View the filing
PAT: INR 20 crores (Q1 FY27)
p. 4
“PAT stood at INR 20 crores, compared to INR 5 crores in the corresponding quarter of the previous year.”
Bhavik Khara, page 4 of the filed PDF · View the filing
Net working capital days: 56 days (Q1 FY27)
p. 4
“Our net working capital days further improved to 56 days, compared to 66 days as of March 2026, demonstrating our continued focus on efficient working capital management.”
Bhavik Khara, page 4 of the filed PDF · View the filing
Net debt-to-equity: 0.02x (Q1 FY27)
p. 4
“Our balance sheet remains robust with net debt-to-equity at just 0.02x, providing ample financial flexibility to support the future growth.”
Bhavik Khara, page 4 of the filed PDF · View the filing
ROE: 17.16% (Q1 FY27)
p. 4
“On the return metrics front, the ROE stood at 17.16%, ROCE stood at 10.61%, reflecting our continued focus on profitable and capital-efficient growth.”
Bhavik Khara, page 4 of the filed PDF · View the filing
Contract manufacturing revenue growth: 84% YoY (Q1 FY27)
p. 5
“Our contract manufacturing business maintained strong momentum during the quarter, with revenues growing 84% YoY.”
Srinivasan Gopalan, page 5 of the filed PDF · View the filing
Asphalt segment revenue: INR 53 crores (Q1 FY27)
p. 5
“Revenue from the segment increased to INR 53 crores in Q1 FY27 from INR 30 crores in Q4 FY26.”
Srinivasan Gopalan, page 5 of the filed PDF · View the filing
Repeat order contribution: 82% (Q1 FY27)
p. 5
“Repeat orders improved to 82% compared to 78% in Q4 FY26, reflecting increasing customer confidence in our execution capabilities and the strength of our long-term relationships.”
Srinivasan Gopalan, page 5 of the filed PDF · View the filing
GDV under execution: over INR 1,800 crores (Q1 FY27)
p. 5
“As a result, our GDV under execution increased to INR 1,800 plus crores, compared to INR 1,250 crore at the year-end Q4 FY26, providing strong revenue visibility over the coming years.”
Srinivasan Gopalan, page 5 of the filed PDF · View the filing
Current net debt: INR 14.5 crores (Q1 FY27)
p. 13
“So, our current net debt is about INR 14.5 crores.”
Bhavik Khara, page 13 of the filed PDF · View the filing
Contract manufacturing capacity utilization: 65-70% (Q1 FY27)
p. 7
“Based on the annual capacity that we have in the revenue possibility. We are at a utilization of somewhere around 65-70% as on Q1 FY27.”
Ronak Morbia, page 7 of the filed PDF · View the filing
Current annual contract manufacturing capacity: 9 million tons (Q1 FY27)
p. 7
“It's about9 million annually.”
Ronak Morbia, page 7 of the filed PDF · View the filing
Top 10 customer revenue concentration: 45-50%
p. 18
“Yeah. The top 10 concentration is about 45-50%.”
Ronak Morbia, page 18 of the filed PDF · View the filing
DaaS revenue this quarter: INR 28 crores, approximately 10% of top line (Q1 FY27)
p. 15
“So, if you see this quarter, around INR 28 crores, which is approximately 10% of the top line has come from the DaaS platform.”
Srinivasan Gopalan, page 15 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — 35-40% · FY27
stated firmly by Srinivasan Gopalan
p. 7
“Annually, we continue with our guidance of 35-40% growth. And typically, the first six months is around 40% of our sales, and the next six months are around 60% of us.”
Srinivasan Gopalan, page 7 of the filed PDF · View the filing
Contract manufacturing revenue contribution — 60% · next year
stated as an aspiration by Ronak Morbia
p. 20
“We will look to achieve a 55 over 60% contribution in the coming months.”
Ronak Morbia, page 20 of the filed PDF · View the filing
Net debt — INR 75-80 crores · FY27
stated firmly by Bhavik Khara
p. 13
“In this financial year, we will like to grow this to about INR 75-80 crores and be conservative in terms of our net debt-to-equity.”
Bhavik Khara, page 13 of the filed PDF · View the filing
Net debt-to-equity ratio — 0.5 to 0.6
stated as an aspiration by Bhavik Khara
p. 13
“As we maintained before as well, we would like to keep our net debt-to-equity at par of 0.5 to 0.6, not more than that.”
Bhavik Khara, page 13 of the filed PDF · View the filing
Net working capital days — 60-70 days
stated as an aspiration by Ronak Morbia
p. 9
“But I think steady state, look to be somewhere between 60-70 days on a net working capital cycle day.”
Ronak Morbia, page 9 of the filed PDF · View the filing
Contract manufacturing capacity addition — 2-3 million tons annually · next two quarters
stated firmly by Ronak Morbia
p. 7
“And we look to add about 2-3 million annual capacity this year, in the next two quarters.”
Ronak Morbia, page 7 of the filed PDF · View the filing
DaaS revenue contribution to top line — 9-11% · FY27 and FY28
stated as an aspiration by Srinivasan Gopalan
p. 15
“Okay. So overall, we should be between 9-11% of the top line of the company.”
Srinivasan Gopalan, page 15 of the filed PDF · View the filing
EBITDA margin
stated as an aspiration by Ronak Morbia
p. 21
“Directionally, yes, that would be correct.”
Ronak Morbia, page 21 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the mix shift toward contract manufacturing and DaaS is driving margin expansion and expects it to sustain for the next few quarters.
Answered by Ronak Morbia
Asked by Aakash Choudhry: Is 10.5% EBITDA margin the new baseline going forward?
p. 6
“Their combined share moved from about 46% to 63% as of Q1 FY27, and that's the main lever behind the EBITDA margin expanding. And we expect this to sustain for the next few quarters.”
Ronak Morbia, page 6 of the filed PDF · View the filing
Management noted receivables grew much slower than revenue, improving working capital days.
Answered by Ronak Morbia
Asked by Agastya Dave: What is the receivables growth versus revenue growth, and is the improvement sustainable?
p. 9
“Receivables grew at less than half the pace of revenue, and that discipline held even as we grew every single quarter over the past year.”
Ronak Morbia, page 9 of the filed PDF · View the filing
Management described a small cumulative ECL relative to lifetime revenue and a conservative approach, with recovery rates varying widely.
Answered by Ronak Morbia
Asked by Agastya Dave: What is the nature and scale of credit losses, and the loss given default?
p. 9
“So, if you look at the lifetime revenue that we have done, it's close to about INR 3,800-4,000 crores. And the ECL that we have provided for till date is about INR 22 crores.”
Ronak Morbia, page 9 of the filed PDF · View the filing
Management explained they use financing platforms that pay vendors early, with interest cost sometimes borne by the company, prioritizing cash flow conservation.
Answered by Ronak Morbia
Asked by Manish Kela: How does supply chain financing work, and does the company pay interest to secure early payment discounts?
p. 11
“We put cash flow at, it is our topmost priority. So we want to reach a stage where we conserve our capital.”
Ronak Morbia, page 11 of the filed PDF · View the filing
Management pointed to strong historical collections and improving receivables quality supporting working capital needs.
Answered by Ronak Morbia
Asked by Ishit Desai: What gives confidence in limiting net debt to Rs 75-80 crore by year end?
p. 17
“In the last financial year, we collected more than about INR 1,100 crores.”
Ronak Morbia, page 17 of the filed PDF · View the filing
Management said the merger process is at an advanced regulatory stage with most approvals already received.
Answered by Srinivasan Gopalan
Asked by Disha Chordia: When will the subsidiary be fully merged to eliminate minority interest?
p. 22
“The process has already started, and three out of the four regulators have already cleared it. We are at the last leg.”
Srinivasan Gopalan, page 22 of the filed PDF · View the filing
Management said the segment's share guidance is a sustainable directional level, and all segments including DaaS are growing meaningfully within the broader 35-40% growth target.
Answered by Ronak Morbia
Asked by Siddhant: Why isn't the high-margin DaaS segment being scaled beyond 10-11% of revenue?
p. 26
“we are in a position to sustain a revenue contribution of about 9-11% from DaaS and about, let's say, going up to about 60% from contract manufacturing.”
Ronak Morbia, page 26 of the filed PDF · View the filing
Risks flagged
Credit losses from customer defaults, with recovery rates varying widely
p. 10
“In some cases, we've been able to recover 25%. In some cases, we've been able to recover over 80% also.”
Ronak Morbia, page 10 of the filed PDF · View the filing
Exposure to both infrastructure and real estate industry cyclicality
p. 12
“I mean, the industry, we are exposed to both infrastructure as well as real estate industry.”
Srinivasan Gopalan, page 12 of the filed PDF · View the filing
Potential competition in the asphalt segment due to disclosed strong traction
p. 13
“Point taken, sir. We are also learning, and thank you for the feedback.”
Srinivasan Gopalan, page 13 of the filed PDF · View the filing
Interest cost borne on supply chain financing arrangements
p. 11
“So we factor in the interest cost. We are okay paying the interest cost only to convert this model into more of a less working capital model.”
Ronak Morbia, page 11 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.