Likhitha Infrastructure FY26 results: PAT falls 42% to ₹400.2 crore
- Standalone PAT fell 42% YoY to ₹4,002.10 lakh in FY26
- Revenue from operations declined 11% to ₹45,673.44 lakh
- Order book stood at over ₹850 crore as of March 31, 2026
- Secured ₹510 crore international order in Abu Dhabi post-year-end
*this image is generated using AI for illustrative purposes only.
Likhitha Infrastructure reported a significant decline in profitability for FY26, with standalone profit after tax (PAT) falling 42% year-on-year to ₹4,002.10 lakh. Revenue from operations contracted 11% to ₹45,673.44 lakh, reflecting a slowdown in project execution compared to the prior fiscal year.
The company's financial performance was impacted by lower contract execution expenses and reduced revenue recognition. Despite the dip in earnings, Likhitha maintained a debt-free balance sheet and strengthened its liquidity position. The order book remained robust at over ₹850 crore as of March 31, 2026, providing visibility for future revenue streams.
Financial Performance
The standalone revenue from operations stood at ₹45,673.44 lakh in FY26, down from ₹51,221.54 lakh in FY25. EBITDA declined 38% to ₹6,245.91 lakh, while profit before tax (PBT) fell 42% to ₹5,427.21 lakh. The net profit ratio compressed to 9% from 14% in the previous year.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue | ₹45,673.44 lakh | ₹51,221.54 lakh | -11% |
| EBITDA | ₹6,245.91 lakh | ₹10,034.84 lakh | -38% |
| PAT | ₹4,002.10 lakh | ₹6,936.99 lakh | -42% |
Consolidated figures mirrored the standalone trend, with consolidated PAT dropping to ₹3,854.91 lakh from ₹6,942.85 lakh. Consolidated revenue declined 12% to ₹45,673.44 lakh.
What the Numbers Show
The divergence between the sharp decline in PAT and the relatively stable cash position highlights a shift in working capital dynamics. While operating cash flows turned negative at -₹886.25 lakh due to increased inventory and receivables, the company’s current ratio improved to 8.72 from 8.00. This suggests that despite lower profitability, the company is maintaining strong short-term liquidity buffers, likely preserving financial flexibility for upcoming project commitments.
Operational Updates
Likhitha completed several major pipeline projects during the year, including the Krishnapatnam-Hyderabad Petroleum Products Pipeline and sections of the Nagpur-Chhindwara-Jabalpur Natural Gas Pipeline. The company also expanded its international presence, securing a ₹510 crore (USD 54 million) order from China Petroleum Engineering & Construction Corporation for the ASAB project in Abu Dhabi after the fiscal year closed.
The Board did not recommend a dividend for FY26. The Annual General Meeting is scheduled for September 28, 2026.
Historical Stock Returns for Likhitha Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.83% | +3.31% | +6.83% | +55.67% | -10.93% | +13.75% |
How will the negative operating cash flow of -₹886.25 lakh impact Likhitha's ability to fund upcoming projects without external financing?
What is the expected timeline for revenue recognition from the robust ₹850 crore order book, and will it be sufficient to offset the FY26 profitability decline?
Could the decision to withhold dividends signal a strategic shift towards capital conservation for the new international expansion in Abu Dhabi?
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