Capacite Infraprojects Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Capacite Infraprojects Ltd filed with BSE on 12 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
Capacit'e Infraprojects reported Q1 FY27 revenue of Rs 629 crore, up 7% year-on-year, while EBITDA declined 3% to Rs 99 crore and PAT fell to Rs 40 crore, impacted by an additional Rs 10 crore provision taken for nonferrous metal price volatility. Management attributed the muted execution to workmen shortages and delays such as tree-cutting permission issues at the IIT Bombay project, stating these have since normalized. The company reported an order book of Rs 13,535 crore as of June 30, 2026, with orders booked so far in FY27 at Rs 1,071 crore against a full-year target range.
Numbers mentioned
Revenue: INR629 crores (Q1 FY27)
p. 3
“Revenue for Q1 FY '27 stood at INR629 crores, up by 7% as compared to INR589 crores in Q1 FY '26.”
Rohit Katyal, page 3 of the filed PDF · View the filing
EBITDA: INR99 crores (Q1 FY27)
p. 3
“EBITDA for Q1 FY '27 stood at INR99 crores, thereby moderating by 3% as compared to INR102 crores in Q1”
Rohit Katyal, page 3 of the filed PDF · View the filing
EBITDA margin: 15.7% (Q1 FY27)
p. 4
“EBITDA margin for Q1 FY '27 stood at 15.7% as compared to 17.2% in Q1”
Rohit Katyal, page 4 of the filed PDF · View the filing
EBIT: INR80 crores (Q1 FY27)
p. 4
“EBIT for Q1 FY '27 stood at INR80 crores, down by 8% as compared to INR87 crores in Q1”
Rohit Katyal, page 4 of the filed PDF · View the filing
PAT: INR40 crores (Q1 FY27)
p. 4
“PAT for Q1 FY '27 stood at INR40 crores as”
Rohit Katyal, page 4 of the filed PDF · View the filing
PAT margin: 6.2% (Q1 FY27)
p. 4
“PAT margin for Q1 FY '27 came in at 6.2%.”
Rohit Katyal, page 4 of the filed PDF · View the filing
Order book: INR13,535 crores (as on June 30, 2026)
p. 3
“Order book stood at INR13,535 crores as on 30th June 2026.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Orders booked in FY27 so far: INR1,071 crores (FY27)
p. 3
“Orders booked so far in FY '27 stands at INR1,071 crores, supported by the strong pipeline of identified quality projects for bidding, INR22,000 crores in public sector and INR5,000 crores in private sector”
Rohit Katyal, page 3 of the filed PDF · View the filing
Additional provision: INR10 crores (Q1 FY27)
p. 3
“the company has, therefore, taken an additional provision of INR10 crores in the current quarter.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Capex: INR52.2 crores (Q1 FY27)
p. 7
“The CapEx done in Q1 is INR79 -- sorry, INR52.2 crores.”
Rohit Katyal, page 7 of the filed PDF · View the filing
Gross debt: INR522 crores (current)
p. 8
“The total gross debt is INR522 crores.”
Rohit Katyal, page 8 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.
FY27 order inflow — INR4,500 crores to INR5,000 crores · FY27
stated firmly by Rohit Katyal
p. 3
“FY '27 order inflow target is between INR4,500 crores to INR5,000 crores.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Revenue growth — 20% year-on-year · FY27
stated firmly by Rohit Katyal
p. 4
“Our guidance is 20% year-on-year, all right, and we are well on track to do that.”
Rohit Katyal, page 4 of the filed PDF · View the filing
Quarterly revenue run rate — INR850 crores plus · Q3 and Q4 FY27
stated conditionally by Rohit Katyal
p. 5
“we are looking to do that INR850 crores plus in quarter 3 and quarter 4.”
Rohit Katyal, page 5 of the filed PDF · View the filing
Promoter pledge release — full release · end of current financial year
stated firmly by Rohit Katyal
p. 3
“The company targets for full release of the pledge by the end of the current financial year.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Provision reversal — Q3 and Q4 FY27
stated conditionally by Rohit Katyal
p. 5
“we are extremely hopeful of reversing this provision in quarter 3 and quarter 4.”
Rohit Katyal, page 5 of the filed PDF · View the filing
Net debt — net debt-free · 8 quarters
stated as an aspiration by Rohit Katyal
p. 8
“Our 8 quarters net debt-free target is well on track.”
Rohit Katyal, page 8 of the filed PDF · View the filing
Capex — INR193 crores · FY27
stated firmly by Rohit Katyal
p. 7
“For the full year, the target is INR193 crores.”
Rohit Katyal, page 7 of the filed PDF · View the filing
CIDCO revenue — INR1,400 crores to INR1,500 crores plus escalation · over next 18 months
stated conditionally by Rohit Katyal
p. 6
“the revenue guidance earlier given for CIDCO is based on this INR1,400 crores to INR1,500 crores plus escalation. And we are well on track to achieve that.”
Rohit Katyal, page 6 of the filed PDF · View the filing
NGT construction ban impact — 20 days factored · FY27
stated conditionally by Rohit Katyal
p. 9
“We have factored an average of 20 days' worth. Now if it goes to 40 days, everyone will suffer.”
Rohit Katyal, page 9 of the filed PDF · View the filing
Working capital days reduction — 25 to 30 days · current financial year
stated as an aspiration by Rohit Katyal
p. 16
“So since we reduced last year by 43 days, we expect, if not that much, by at least 25, 30 days to happen in the current financial year also.”
Rohit Katyal, page 16 of the filed PDF · View the filing
Term loan/debt increase due to equipment purchase — INR45 crores to INR50 crores · current financial year
stated firmly by Rohit Katyal
p. 11
“the debt position due to the equipment purchase may increase by INR45 crores to INR50 crores, nothing more than that on a net basis.”
Rohit Katyal, page 11 of the filed PDF · View the filing
Order inflow crossing threshold — 50% of higher end of band · Q2 FY27
stated as an aspiration by Rohit Katyal
p. 11
“We see crossing 50% of the higher end of the band in quarter 2 itself.”
Rohit Katyal, page 11 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 explained delays at IIT Bombay due to tree-cutting permission issues and said NBCC revenue buildup started this quarter, with execution expected to improve.
Answered by Rohit Katyal
Asked by Vinay Chaudhary: Why has execution not converted despite strong order inflow and order book to revenue ratio?
p. 4
“the order book includes IIT Bombay. That's a INR550 crores contract, which was to start in quarter 4 of the last fiscal but will start only in quarter 2 of the current fiscal because there were no tree cutting permissions available with the client.”
Rohit Katyal, page 4 of the filed PDF · View the filing
Management said they are hopeful of reversing a substantial portion of the provision in Q3 and Q4, subject to how inflation indices move.
Answered by Rohit Katyal
Asked by Vinay Chaudhary: Can the INR20 crore provision be reversed once raw material prices normalize?
p. 5
“we are extremely hopeful of reversing this provision in quarter 3 and quarter 4. However, there's a disclaimer.”
Rohit Katyal, page 5 of the filed PDF · View the filing
Management detailed the TCC parent-level order value and Capacit'e's 35% share of the subcontract.
Answered by Rohit Katyal
Asked by Rohit Gupta: What is the outstanding order value on the MHADA BDD Worli project?
p. 5
“the total order value on the TCC level, that is the parent company, which is owned jointly by Tata Projects and Capacit'e is close to INR17,000 crores, including escalation.”
Rohit Katyal, page 5 of the filed PDF · View the filing
Management said handover of remaining CIDCO locations is expected by Q3, and Signature Global revenue improved after a labor shortage in Q1.
Answered by Rohit Katyal
Asked by Vasudev: How is progress on the CIDCO and Signature Global projects?
p. 6
“There was a serious dip in quarter 1 because of serious shortfall in labor across the country, across the industry. But now we have about more than 1,000 boots on the ground at the project site, and we are confident to achieve the targeted revenues.”
Rohit Katyal, page 6 of the filed PDF · View the filing
Management said gross debt rose temporarily due to shifted payments but should reduce on a yearly basis.
Answered by Rohit Katyal
Asked by Vaibhav Shah: What is the current gross debt and outlook for March 2027?
p. 8
“This has only increased because approximately INR150 crores of payments got shifted by 10 days, which obviously have been collected in the current month.”
Rohit Katyal, page 8 of the filed PDF · View the filing
Management said much of the order book was not yet under active execution due to permission and handover delays, not a structural bottleneck.
Answered by Rohit Katyal
Asked by Vedant Kabra: Why has revenue growth slowed over recent years despite a large order book?
p. 10
“my INR13,500 crores order book, I could have only executed or execution was only happening on INR8,000 crores to INR9,000 crores.”
Rohit Katyal, page 10 of the filed PDF · View the filing
Management said steel prices had stabilized somewhat but nonferrous metal inflation had not yet caught up in official indices.
Answered by Rohit Katyal
Asked by Prateek Bhandari: Have commodity prices stabilized in the last 40 days?
p. 10
“it has stabilized, but the inflation is yet to catch up with the price rise.”
Rohit Katyal, page 10 of the filed PDF · View the filing
Management said contract assets plus debtors have improved substantially from COVID-era peaks and should keep improving.
Answered by Rohit Katyal
Asked by Gunit Singh: Why are Capacit'e's contract assets much higher than peers as a percentage of revenue?
p. 12
“contract assets plus debtors for our company stands at approximately 78% to the top line as on 31st March.”
Rohit Katyal, page 12 of the filed PDF · View the filing
Management said it does not expect further provisioning in Q2 and will reassess for Q3 based on escalation indices.
Answered by Rohit Katyal
Asked by Deepak Poddar: Will the provisioning recur in coming quarters?
p. 14
“I don't see any provisioning coming in, in quarter 2, all right?”
Rohit Katyal, page 14 of the filed PDF · View the filing
Management clarified the provision relates to materials to be purchased over the next several quarters where escalation may not cover cost increases.
Answered by Rohit Katyal
Asked by Rahul Kumar: Is the extra provision tied to specific projects or general revenue booked in March/June?
p. 15
“This extra provisioning is for materials, which have to be purchased over the next 4 quarters. where we believe at the current situation, the escalation would not cover up the cost.”
Rohit Katyal, page 15 of the filed PDF · View the filing
Risks flagged
Workmen/labor shortages impacting execution
p. 3
“The performance was impacted by workmen shortages and factors beyond the control of the company.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Commodity price volatility in nonferrous metals not yet reflected in inflation indices
p. 3
“Commodity price volatility, especially in respect to nonferrous metals is yet to get reflected in the inflation indexes being published by the government.”
Rohit Katyal, page 3 of the filed PDF · View the filing
Tree-cutting permission delays affecting project start
p. 4
“there were no tree cutting permissions available with the client.”
Rohit Katyal, page 4 of the filed PDF · View the filing
Delhi NCR construction bans (GRAP/NGT) during winter months
p. 9
“But at the moment, we have factored 20 days in the current fiscal for the Northern India revenue impact due to NGT.”
Rohit Katyal, page 9 of the filed PDF · View the filing
Right-of-way and encroachment issues with government clients
p. 4
“like there are right-of-way issues with clients in other sectors, we could also face problems with certain clients for tree cutting or certain encroachment issues with government clients.”
Rohit Katyal, page 4 of the filed PDF · View the filing
Escalation indices may not fully cover raw material cost increases
p. 15
“we believe at the current situation, the escalation would not cover up the cost.”
Rohit Katyal, page 15 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.