Annu Projects has received a confirmed work order valued at Rs 12.81 crore from Northeast Frontier Railway for the provision of optical fiber cable communication backbones in Assam.

Order Details

The newly disclosed order involves the provision of 4 x 48 fiber OFC for the communication backbone in the New Tinsukia (NTSK) to Dibrugarh (DBRG) and Simalguri (SLGR) to Dibrugarh (DBRG) sections, covering 143 RKM of the Tinsukia Division under HUN6 sections within sanctioned KAVACH territory. The time period for this project is 24 months. The order was disclosed to the exchange on October 6, 2026. It is not a related party transaction, and no promoter interest is involved.

This award comes shortly after the company secured a Rs 5.04 crore order from East Central Railway, Samastipur Division, on September 22, 2026, for OFC laying and communication provision in Bihar. The receipt of orders from multiple railway zones indicates a broadening of the client base across different regions.

Company Order Track Record

The company has disclosed two significant orders in the last three fiscal quarters. The total disclosed order book now stands at Rs 17.85 crore, comprising the new Northeast Frontier Railway award and the previous East Central Railway contract.

Execution and Revenue Quality

The company reported consolidated revenue of Rs 93.60 crore and net profit of Rs 13.80 crore in Q4FY25, with an operating profit margin (OPM) of 20.32%. The strong margin profile in the latest available quarter suggests efficient execution on existing contracts.

Financial Context

The Rs 12.81 crore order represents approximately 13.7% of the company's average quarterly revenue of Rs 93.60 crore. With the addition of this new order, the total visible backlog improves slightly but remains low relative to annual revenue run-rates. The company maintains a current ratio of 1.85x, indicating sufficient liquidity to manage short-term obligations. However, operating cashflow was negative at Rs -35.50 crore in FY25, suggesting that earnings are not yet converting efficiently into cash.

Annual revenue grew from Rs 155.40 crore in FY24 to Rs 182.40 crore in FY25, representing a YoY growth of +17.4%. Net profit increased by +19.0% year-on-year to Rs 20.70 crore in FY25.

Annu Projects Limited reported a net profit of ₹127 lakh for the quarter ended June 30, 2026 (Q1FY27). Revenue from operations clocked in at ₹1,991 lakh, marking the company's first standalone financial results since its listing.

The EPC-focused firm posted profit before tax of ₹224 lakh against total revenue of ₹2,037 lakh. The company was listed on NSE and BSE on September 2, 2026, following an IPO that raised ₹17,506.17 lakh. Consequently, comparative figures for the corresponding quarter ended June 30, 2025 are not presented in the statutory statement as quarterly reporting was not required pre-listing.

Financial performance overview

The company operates in the Engineering, Procurement and Construction (EPC) sector, which serves as its only reportable segment. Total expenses for the quarter amounted to ₹1,813 lakh. Key expense heads included construction expenses of ₹1,094 lakh and consumption of material worth ₹1,097 lakh. Employee benefits cost ₹149 lakh, while finance costs stood at ₹129 lakh.

Comparative management data

To aid investor comparison, management provided unaudited figures for the corresponding quarter ended June 30, 2025. These figures indicate a significant turnaround from a loss position to profitability.

Note: Q1FY26 figures are derived from books of accounts and have not been audited or subjected to limited review.

What the numbers show

A divergence exists between the strong revenue growth and the margin compression when viewed against the full-year context. While Q1FY27 revenue of ₹1,991 lakh is roughly 8% of the full-year FY26 revenue of ₹24,125 lakh, the net profit of ₹127 lakh represents only 3.8% of the full-year FY26 net profit of ₹3,303 lakh. This suggests that the first quarter's operational leverage is lower than the annual average, potentially due to higher relative fixed costs or project-specific execution phases typical in EPC businesses during the initial fiscal quarter.

Auditor and listing details

Suresh Chandra & Associates conducted a limited review of the financials and issued an unmodified conclusion. The auditor noted that comparative figures for the previous year were not presented because the company was not required to prepare quarterly results prior to its September 2, 2026 listing. The board meeting approving these results concluded on September 23, 2026.