Desco Infratech reported a near-doubling of revenue and an 80% surge in net profit for the financial year ended March 31, 2026, reflecting strong execution across its infrastructure portfolio.

The Surat-based engineering, procurement, and construction (EPC) firm posted revenue from operations of ₹11,861.26 lakh for FY26, up 99.53% from ₹5,944.71 lakh in the previous year. Profit after tax (PAT) rose 80.48% to ₹1,634.67 lakh, compared to ₹905.71 lakh in FY25.

Financial Performance

The company's EBITDA grew 76.40% year-on-year to ₹2,354.11 lakh from ₹1,334.51 lakh. The consolidated earnings per share (EPS) stood at ₹21.30 on a face value of ₹10 per share.

Segment Contribution

City Gas Distribution (CGD) remained the primary growth driver, contributing approximately 70% of total revenue. The CGD segment generated ₹8,324.04 lakh in revenue with a PAT margin of 15.42%. The Power and Renewable EPC segment contributed ₹3,537.22 lakh in revenue, delivering a PAT margin of 10.01%.

What the Numbers Show

Revenue growth significantly outpaced EBITDA expansion, with top-line figures rising nearly 100% while operating profits grew by roughly 76%. This divergence suggests a compression in overall operating margins as the company scaled operations rapidly. Additionally, trade receivables increased sharply to ₹3,042.86 lakh from ₹1,335.33 lakh, indicating that cash conversion may lag behind revenue recognition during this period of accelerated execution.

Strategic Developments

Desco Infratech strengthened its order book, which now exceeds ₹370 crore. The company expanded its geographic footprint across 14 states and established its first international subsidiary, Desco Global FZ-LLC, in the United Arab Emirates. It also entered into a memorandum of understanding to explore hydrogen-natural gas blending projects in the CGD sector.

Dividend and Governance

The Board of Directors did not recommend any dividend for FY26, citing the company's growth phase and need to fund expansion projects and working capital requirements. Mr. Pankaj Pruthu Desai, Managing Director, retires by rotation at the upcoming Annual General Meeting and offers himself for reappointment.

Desco Infratech has accepted the resignation of Muskan Khandal from the office of Company Secretary and Compliance Officer, effective August 7, 2026. The Board of Directors also approved the appointment of CS Tripti Gaggar to succeed her in the same roles with immediate effect. Khandal cited personal reasons and a desire to pursue better career opportunities outside the company for her departure. Consequently, she also ceases to be a member of the Internal Complaints Committee (ICC). This change in key managerial personnel ensures continuity in statutory compliance and corporate governance functions.

The Board meeting was held on Friday, August 7, 2026, at the company’s registered office. The proceedings were conducted pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment of CS Tripti Gaggar was made based on the recommendation of the Nomination and Remuneration Committee. It aligns with Section 203 of the Companies Act, 2013, and Regulation 6 of the SEBI LODR Regulations. The company disclosed these changes under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Key Managerial Personnel Changes

The following table details the transition of the Company Secretary and Compliance Officer role:

Muskan Khandal submitted her resignation letter on August 7, 2026. She requested the Board to ensure all necessary statutory and regulatory compliances, including filings with the Registrar of Companies (ROC) and disclosures to SEBI and stock exchanges, are completed within prescribed timelines. She offered full cooperation for a smooth transition of responsibilities, records, and pending compliance matters.

Profile of New Appointment

CS Tripti Gaggar is a Law Graduate and an Associate member of the Institute of Company Secretaries of India, holding Membership Number 79044. Her appointment ensures that Desco Infratech maintains its compliance infrastructure without interruption. The Board confirmed there are no disclosure relationships between directors regarding this appointment, as per regulatory requirements. The meeting commenced at 5:03 P.M. and concluded at 5:35 P.M., with Malhar Pankaj Desai, Whole-Time Director, signing off on the disclosure.