Oval Projects Engineering Limited, a specialized infrastructure services and Operations & Maintenance (O&M) company serving India's Oil & Gas sector, announced its business update for the first quarter ended June 30, 2026 (Q1 FY 2026-27). The company reported revenue of ₹18.00 crore, reflecting a 114.29% year-on-year increase compared to ₹8.40 crore in the corresponding quarter of the prior year. The company operates across 10+ Indian states, executing upstream gas gathering systems, cross-country pipelines, City Gas Distribution networks, and civil infrastructure.

Q1 FY27 Financial and Operational Highlights

The following table summarizes the key metrics reported for Q1 FY27:

The unexecuted order book of ₹514.27 crore out of the total order book of ₹818.68 crore provides the company with revenue visibility for the coming periods. During the quarter, the company participated in tenders worth ₹100.00 crore.

Management Commentary

Mr. Goutam Debnath, Chairman and Managing Director of Oval Projects Engineering Limited, commented on the quarterly performance:

"Q1 FY27 witnessed strong execution momentum, with revenue growing 114.29% YoY to ₹18.00 crore. Our total order book stands at ₹818.68 crore, with an unexecuted order book of ₹514.27 crore, providing healthy revenue visibility for the coming years.

While the Company has historically maintained a healthy order win ratio and strong execution capabilities, our approach towards new orders is becoming more selective. We are placing greater emphasis on cash flow discipline and the quality of the order book, rather than pursuing order book growth alone. This approach reflects our focus on addressing investor expectations and building a more balanced execution pipeline.

Going forward, our priority will be to maintain healthy cash flows alongside a strong order book, while selectively pursuing opportunities that align with our execution capabilities and financial objectives."

About Oval Projects Engineering Limited

Oval Projects Engineering Limited is a specialized infrastructure services and O&M company catering primarily to India's Oil & Gas sector. The company provides end-to-end infrastructure solutions spanning design & engineering, procurement, construction, testing & commissioning, and O&M services. Key operational highlights include:

• Execution track record across 10+ states
• Completion of 100+ projects and over 600 km of pipeline infrastructure
• Capabilities spanning upstream gas gathering systems, cross-country pipelines, City Gas Distribution (CGD) networks, and civil infrastructure
• Long-standing relationships with leading PSUs and government entities
• 70% repeat order rate from existing clients

Oval Projects Engineering Limited reported a 59% increase in net profit to ₹14.81 crore for the financial year ended March 31, 2026, driven by a 50% surge in revenue. The infrastructure services provider recorded revenue from operations of ₹153.14 crore, up from ₹102.29 crore in the previous year, while EBITDA grew 54% to ₹28.25 crore. The company’s order book stands at over ₹780 crore, positioning it to capitalize on rising investments in energy security and pipeline networks.

Financial Performance

The audited financial results for FY26 highlight significant growth across key metrics compared to FY25. EBITDA margins improved by 54 basis points to 18.44%, while net profit margins expanded by 54 basis points to 9.67%.

Half-Yearly Comparison

Performance in the second half of FY26 also showed strong year-on-year growth. H2 FY26 revenue reached ₹92.18 crore, a 51% increase compared to H1 FY25. Net profit for the same period rose 33% to ₹8.45 crore.

Operational Outlook

Goutam Debnath, Chairman and Managing Director, attributed the growth to improved operational efficiencies and disciplined project execution. He noted that geopolitical conditions in the Middle East and the evolving global energy landscape are driving investments in pipeline networks, LNG infrastructure, and City Gas Distribution (CGD) projects. With over 12 years of experience and strong relationships with leading public sector undertaking (PSU) clients, the company aims to strengthen its execution capabilities to deliver sustainable growth.

Strategic Roadmap

The company has outlined a three-phase execution roadmap targeting ₹1,000 crore revenue by FY30. Phase 1 (FY25–FY26) focuses on executing the existing order book and expanding limits to bid on larger projects. Phase 2 (FY26–FY28) targets revenue of ₹350–500 crore through national expansion into Central and Western India. Phase 3 (FY28–FY30) aims to establish a national infrastructure platform with a revenue target of ₹900–1,000 crore and an order book of ₹1,500–2,000 crore. The company serves clients including ONGC, IndianOil, GAIL, and IGGL across 10+ states.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0RTI01017/befd9593-0bec-480d-9f29-377fa36c4056.pdf