Monarch Surveyors & Engineering Consultants Limited has secured a Letter of Acceptance (LOA) from South Western Railway for the appointment of Authority Engineer(s) to provide project management services for two new broad-gauge railway line construction projects. The development was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 18, 2026. The total contract value is Rs. 11,19,32,095.44 (Rupees Eleven Crore Nineteen Lakh Thirty-Two Thousand and Ninety-Five Rupees and Forty-Four Paise Only).

Project Scope and Details

The LOA covers two distinct railway infrastructure projects, both involving the construction of new broad-gauge lines and associated works. The scope of each project is outlined below:

• Project 1: Construction of a new Broad-Gauge line between Mid-section (km:5.72) and Kuppam (incl.) (km:23.869) under the Marikuppam–Kuppam new line project (23.7 km), including Civil & Track works, Signal & Telecommunication works, Railway Electrification, and Electrical general services (EPC).
• Project 2: Construction of a new Broad Gauge Railway line between Muluguru (chainage (-) 1906.6 (Ch: 108125 of YNK-PKD)) to Palasamudram (chainage (17/150)), including 02 new yards (Chalivendala & Palasamudram) and existing Maluguru yard modification, with a route length of 19.057 km, including Signal & Telecommunication, Electrification & Electrical general service works (EPC).

Key Contract Parameters

The following table summarises the key details of the contract as disclosed under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024:

Regulatory Disclosure

The transaction does not fall within related party transactions, and the promoter/promoter group companies have no interest in the work contract. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the relevant SEBI circular. The signing authority for the disclosure was Dattatraya Mohaniraj Karpe, Managing Director of Monarch Surveyors and Engineering Consultants Limited.

Monarch Surveyors and Engineering Consultants Limited has reported a strong financial performance for the fiscal year ended March 31, 2026. The company achieved a revenue from operations of ₹171.7 Cr, marking an 11.4% increase compared to the previous year. The Profit After Tax (PAT) for the period was recorded at ₹37.2 Cr, reflecting a margin of 21.7%. These results underscore the firm's solid reputation in the market and its effective execution capabilities.

Earnings Conference Call

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Monarch Surveyors conducted an earnings conference call on May 11, 2026, to discuss the audited financial results for the half year and financial year ended March 31, 2026. The audio recording of the conference call is now available on the company's website. The call was held at 04:00 P.M. and the disclosure was made by Managing Director Dattatraya Mohaniraj Karpe.

Operational Highlights and Order Book

The company secured fresh orders totaling ₹387 Cr during the year, which has pushed its total open orders past the ₹615 Cr mark. This robust order book is executable over the next 24-36 months and includes marquee projects such as the Somnath Dwarka Expressway and surveys for the North Central Railway. Additionally, Monarch is currently managing over 130 key ongoing projects across various states, supported by a team strength of approximately 710 employees as of March 31, 2026.

Strategic Acquisition in Australia

In a significant move to expand its global footprint, Monarch announced the acquisition of GMR Engineering Services, an Australia-based entity. The acquisition consideration was set at AUD 1,810,000. This strategic entry provides immediate access to 7 Australian Government procurement panels and strengthens the company's core capabilities in engineering, surveying, drone operations, and geospatial services. The target entity brings over 20 years of operating history and is debt-free.

Financial Performance Overview

The detailed financial statements for the year ended March 31, 2026, show a total income of ₹17,676.99 Lakhs, up from ₹15,566.09 Lakhs in the previous year. The company maintained healthy margins with an EBITDA (excluding other income) of ₹51.0 Cr, resulting in an EBITDA margin of 29.7%. The balance sheet remains robust with shareholders' funds growing to ₹23,108.93 Lakhs, primarily driven by an increase in share capital and reserves following the company's listing.

The table below summarises the key financial metrics for FY26 and FY25:

Future Outlook

Looking ahead to FY 2027, the company is focused on sustainable and quality-led growth. Management aims to leverage the strong structural tailwinds in the Indian infrastructure sector, supported by government budgetary allocations and the PM Gati Shakti master plan. Monarch plans to deepen client relationships, expand its geographic footprint, and continue its selective M&A approach to enhance revenue depth and long-term value creation.