Markolines Pavement Technologies Limited (MPTL), a leading highway operations and maintenance provider in India, has reported strong financial results for the first quarter, despite facing challenges from early monsoons.

Financial Highlights

All financial figures in Rs. crores, except EPS in Rs.

Strong Order Book and Pipeline

MPTL maintains a robust unexecuted order book of Rs. 400.00 crores and a pipeline of Rs. 600.00 crores. During the quarter, the company added over Rs. 30.00 crores of new orders, including a significant Rs. 100.00 crore order spread over 5 years.

Corporate Developments

• Successfully migrated from the SME platform to the BSE main board
• Applied for NSE main board listing
• In process of merging Markolines Pavement and Markolines Infra, with queries currently being addressed

Business Segments

MPTL operates in three main verticals:

1. Highway Maintenance
2. Specialized Maintenance Services
3. Specialized Construction Services

Growth Strategy

• Focusing on larger ticket size projects
• Expanding into specialized services, including:
  • Microsurfacing
  • Tunneling
  • Soil stabilization
• These specialized services offer higher margins than conventional highway maintenance

Management Commentary

Vijay Oswal, Founder and Chief Financial Officer of MPTL, stated, "We are expecting about 25%-30% growth in terms of revenue for FY2026. Our focus is on increasing project sizes and expanding into specialized construction activities, which will help us improve our margins and bottom line."

Future Outlook

• Capitalizing on growing infrastructure development in India, particularly in the highway sector
• Exploring opportunities in structural maintenance and concrete road maintenance
• Well-positioned to leverage expertise and market leadership in highway operations and maintenance
• Anticipated growth in demand for high-quality road infrastructure as India aims to become a developed nation by 2047

Markolines Pavement Technologies Limited , India's largest highway maintenance company, has announced a significant contract win and robust financial results for the first quarter of fiscal year 2026.

New Contract Win

The company has received a Letter of Acceptance (LOA) from Trans Metalite India Ltd. for a contract valued at approximately Rs. 100 crore. The project involves operation and production of patch repair work in the state of Andhra Pradesh over a five-year period. This new contract further strengthens Markolines' order book, which now stands at Rs. 400 crore.

Q1 FY2026 Financial Highlights

Markolines reported impressive year-on-year growth in its Q1 FY2026 results:

• Revenue surged by 44.39% to Rs. 72.72 crore
• EBITDA increased by 36.81% to Rs. 7.51 crore
• Profit After Tax (PAT) more than doubled, growing by 119.37% to Rs. 3.79 crore
• Earnings Per Share (EPS) rose by 91.1% to Rs. 1.72 per share

Financial Performance Table

Recent Developments

Markolines has been actively expanding its project portfolio. Recent contract wins include:

• Rs. 18.87 crore order for periodic maintenance at Varanasi Aurangabad NH-2 Tollway
• Rs. 16.76 crore order from Vadodara Kim Expressway for restoration works
• Rs. 2.94 crore microsurfacing order from Nxt-Infra CT Highways Pvt. Ltd.

The company has also made significant strides in its capital market journey:

• Migration to the BSE Mainboard, effective June 12, 2025
• Filed application for NSE Mainboard listing on August 9, 2025

Management Commentary

Sanjay B. Patil, Founder, Chairman & Managing Director of Markolines, commented on the company's performance: "Our Q1 FY2026 results demonstrate the resilience of our business model and the effectiveness of our strategic project execution across diverse locations. The new Rs. 100 crore contract from Trans Metalite India Ltd. further validates our expertise in highway maintenance and strengthens our order book."

Patil added, "With the government's continued focus on infrastructure spending and growing privatization in the sector, we are well-positioned to capitalize on emerging opportunities while setting new benchmarks for efficiency and quality in highway maintenance."

Future Outlook

Markolines' management has outlined a vision focused on five key pillars:

1. Prioritizing client satisfaction with reliable and innovative solutions
2. Expanding service offerings to meet evolving needs
3. Driving revenue growth by scaling project ticket sizes
4. Leveraging expertise across adjacent infrastructure sectors
5. Building a leadership position in Infrastructure Operations & Maintenance (O&M)

With its strong order book, recent contract wins, and robust financial performance, Markolines Pavement Technologies appears well-positioned for continued growth in the highway maintenance sector.