OM Infra Ltd. Annual Report FY26

OM Infra reported consolidated revenue of ₹500.06 crore for the financial year ended March 31, 2026. The Board has recommended a final equity dividend of ₹0.50 per share, representing 50% of the face value.

Reader Takeaway: Strong order book and asset monetization plans signal future growth, but auditor concerns on unbilled revenue need monitoring.

What Just Happened

OM Infra Ltd. has released its Annual Report for FY26. Key highlights include a consolidated revenue of ₹500.06 crore, a decrease from ₹712.66 crore in FY25. The company recommended a final dividend of ₹0.50 per share (50% of face value).

Why This Matters

The report provides shareholders with a view of the company's financial health and strategic direction. The recommended dividend offers a direct return to investors. The strong order book and revenue guidance for FY27 suggest potential for future growth, while the expected cash from asset monetization could bolster liquidity.

The Backstory

In FY26, OM Infra focused on margin protection and capital preservation. The company operates in engineering and infrastructure, with significant work on the Jal Jeevan Mission and hydro-mechanical components. Real estate projects like Pallacia (Jaipur) and Om Green Meadows (Kota) also contribute to revenue.

What Changes Now

Management has set a revenue target of ₹700–750 crore for FY27, aiming for EBITDA margins of 7–8%. The company anticipates realizing over ₹700 crore in cash from non-core assets and arbitration awards in the next 2-3 years. This includes a ₹587 crore arbitration award related to the Jaipur-Bhilwara Toll Road.

Risks to Watch

Auditors raised concerns about unbilled revenue amounting to ₹28.85 crore, citing pending verification by project authorities. While management is working on reconciliation, this represents a point of caution. The realization of arbitration awards is also subject to ongoing legal processes in higher courts.

Peer Comparison

(No peer comparison data available in the filing)

Context Metrics (Time-Bound)

• Order Book: ₹2,107 crore as of March 31, 2026.
• Jal Jeevan Mission Orders: ₹1,351 crore.
• Hydro-Mechanical Component Orders: ₹756 crore.
• Isarda Dam Project Milestone: Water impounding achieved on July 30, 2025.
• Jaipur-Bhilwara Toll Road Arbitration Award: ₹587 crore (pending finalization).
• Gurha Thermal Power Project Award: ₹53 crore (pending Supreme Court resolution).
• Pallacia (Jaipur) Revenue: ₹275 crore recognized, ₹290 crore estimated future value.
• Om Green Meadows (Kota) Revenue: ₹63 crore recognized, ₹24 crore future inflow expected.
• Consolidated Net Debt-to-Equity Ratio: 0.03x.

What to Track Next

Investors will be looking for progress on the reconciliation of unbilled revenue and the successful realization of arbitration awards. The company's ability to meet its FY27 revenue guidance will also be a key indicator.