Bondada Engineering Limited has received in-principle approval from the National Stock Exchange (NSE) for migrating its equity shares from the BSE SME platform to the Main Board. The approval letter was dated October 14, 2026.

This development follows a similar in-principle approval granted by BSE Limited on September 9, 2026, allowing the company to move from the BSE SME platform to the BSE Main Board. With both approvals secured, Bondada Engineering is positioned to establish its presence on the main boards of both major Indian stock exchanges.

Regulatory compliance and next steps

The company disclosed this information under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms that the migration process will proceed in accordance with applicable regulatory and stock exchange requirements.

Bondada Engineering stated that it will undertake the necessary subsequent formalities to complete the migration. The company highlighted that this step reflects a significant milestone in its growth journey, aimed at enhancing visibility and market presence.

Strategic implications

The dual approvals signal a coordinated effort to upgrade the company's listing status. Moving from the SME platform to the Main Board typically involves stricter disclosure norms and higher liquidity expectations, which can broaden the investor base.

What the numbers show

The timeline reveals a rapid progression: Bondada Engineering secured BSE approval on September 9, 2026, and NSE approval just over a month later on October 14, 2026. This short interval between exchanges suggests parallel processing of applications or synchronized readiness to meet the listing criteria of both entities simultaneously.

Bondada Engineering has secured a mega EPC order valued at Rs 1153.93 crore for the development of a 270 MWp ground-mounted solar PV project in Maharashtra. The awarding entity is a domestic company engaged in renewable energy projects.

Order Details and Terms

The company disclosed this order to the exchanges on October 6, 2026. The scope of work includes the engineering, procurement, and construction (EPC) of the solar project at various locations within Maharashtra. The execution timeline is set for 6 months from the receipt of the order. The transaction is tax-inclusive and is marked as a related party transaction with promoter interest involved.

Recent Order History

The new mega order joins a series of recent wins across diverse sectors including telecom, defence, and other renewable energy projects. The table below summarizes the latest order alongside previous disclosures:

Financial Context and Order Book

The Rs 1153.93 crore order significantly boosts the company's visible order pipeline. As per pre-computed metrics, the total disclosed order book for the last three fiscal quarters stands at Rs 3467.19 crore across 10 orders. This backlog represents 4.63 quarters of average quarterly revenue or 1.16 years of annual revenue at the current run-rate.

The average quarterly revenue over the last four quarters is recorded at Rs 748.20 crore. The strong order inflow supports the company's revenue visibility for upcoming quarters.

Quarterly Order Inflow Summary

The following table details the order inflow by quarter for the last three fiscal quarters:

Note: The Q2FY27 total provided in the input data (Rs 714.39 crore) reflects the sum of orders disclosed during that period prior to the October 6 disclosure.

Revenue and Profitability Trends

Consolidated financials indicate steady growth. Revenue for FY26 stood at Rs 2851.10 crore, marking an 80.4% YoY increase from Rs 1580.10 crore in FY25. Net Profit for FY26 was Rs 211.10 crore, up 86.5% YoY.

Recent quarterly performance shows consistent margins:

Balance Sheet and Cash Flow

The company reported positive operating cash flow of Rs 124.60 crore in FY26, improving from negative Rs 140.90 crore in FY25. The current ratio stands at 1.38x, indicating adequate liquidity. Total Equity is Rs 732.50 crore as of FY26.