Current Infraprojects has secured a significant work order valued at Rs 4.89 crore from the Border Security Force (BSF). The contract entails the provision, installation, testing, and commissioning of 25 kWp off-grid solar power plants across 16 Border Out Posts (BOPs) belonging to the 13 BN BSF (now 51) under SHQ BSF BMR, Gujarat. The scope also includes the construction of an RCC framed structure for the battery room, with an execution timeline of 12 months.

ORDER DETAILS AND SCOPE

The newly disclosed order was awarded by the Border Security Force, a domestic entity, on September 30, 2026. The project is classified as significant and falls under the purview of FTR HQ BSF Gujarat. The specific technical requirements involve setting up 25 kWp off-grid solar power plants at 16 distinct BOPs. Additionally, the contractor is responsible for constructing RCC framed structures to house battery rooms, ensuring robust infrastructure for the solar installations. The stipulated time period for completion is 12 months from the date of award.

RECENT ORDER HISTORY AND TRACK RECORD

This new contract marks the second significant order disclosure for Current Infraprojects in the last three fiscal quarters. Prior to this, the company disclosed a Rs 12.16 crore order from Jaipur Vidyut Vitrani Nigam Limited (JVNL) in May 2026. The JVNL contract involved turnkey execution of deposit works, including substations, overhead lines, and underground cables in the Baran circle. With the addition of the BSF order, the total disclosed order inflow for the current quarter stands at Rs 17.05 crore.

FINANCIAL CONTEXT AND COMPANY PROFILE

Current Infraprojects operates in the civil construction sector with a market capitalization of Rs 183.82 crore as of October 1, 2026. The company reported consolidated revenue of Rs 161.40 crore in FY26, reflecting a year-on-year growth of +76.8% compared to Rs 91.30 crore in FY25. Net profit for FY26 stood at Rs 14.10 crore, up from Rs 9.50 crore in the previous year. The operating profit margin (OPM) was recorded at 14.48% in FY26.

The company maintains a Return on Capital Employed (ROCE) of 22.18% and a Return on Equity (ROE) of 17.63% for FY26. Its balance sheet shows a current ratio of 2.28x, indicating healthy liquidity levels. However, operating cashflow was negative at Rs -9.20 crore in FY26, suggesting potential working capital pressures despite strong profitability metrics. The stock trades at a P/E ratio of 13.6x and a Price/Book ratio of 2.4x as of the latest market data.

Current Infraprojects Limited has appointed M/s Maheshwari Neetu & Associates as its Secretarial Auditor for a five-year term covering financial years FY27 to FY31. The Board of Directors approved the appointment on July 23, 2026, following a recommendation from the Audit Committee. This multi-year engagement aims to ensure continuous compliance oversight for the company’s corporate governance and statutory obligations, pending ratification by shareholders at the ensuing General Meeting.

The decision was formalized in a disclosure filed with the Emerge Platform of the National Stock Exchange of India Limited (NSE) on July 23, 2026. The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the company cited compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, as amended, which governs such appointments.

Appointment Details

M/s Maheshwari Neetu & Associates holds Certificate of Practice (COP) No. 13397. The firm describes itself as an experienced professional entity with a diverse client base, providing comprehensive corporate secretarial, compliance, and secretarial audit services. According to the disclosure, the firm possesses in-depth expertise in the Companies Act, 2013, SEBI Regulations, and applicable secretarial standards. This expertise is intended to ensure independent, objective, and reliable compliance and governance advisory support for Current Infraprojects.

Governance Implications

The selection of a secretarial auditor for a multi-year term allows for greater continuity in monitoring the company’s compliance with various laws and regulations. M/s Maheshwari Neetu & Associates will be responsible for conducting secretarial audits, which verify whether the company has complied with the provisions of the Companies Act, 2013, the rules made thereunder, and other applicable laws.

This appointment aligns with standard corporate governance practices where the Audit Committee plays a pivotal role in recommending external auditors to the Board. By securing this appointment now, Current Infraprojects ensures that its governance structures are robustly monitored from the start of FY27 through FY31, pending final shareholder consent. Sonali Nawndher, Company Secretary and Compliance Officer at Current Infraprojects Limited, signed the intimation letter submitted to the exchange.