SRM Contractors has secured a major infrastructure contract worth ₹483 crore from the Maharashtra State Industrial Development Corporation (MSIDC) for the construction of the Nashik Ring Road project. The company announced this development through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting its growing presence in Maharashtra's infrastructure sector.

Contract Details

The project specifications and key parameters are outlined below:

Regulatory Compliance

The contract announcement was made through an official communication to both BSE and NSE exchanges. The filing confirms that this is a domestic contract with no related party transactions involved. The promoter group has no interest in the awarding entity, ensuring the contract was awarded at arm's length.

Project Significance

The Nashik Ring Road project represents a crucial infrastructure development initiative in Maharashtra. The southern section spans 14.020 kilometers and will be executed under the EPC mode, requiring comprehensive project management capabilities. Ring roads typically serve to decongest city traffic by providing alternative routes around urban centers, facilitating smoother transportation and economic activity.

Business Impact

This contract award strengthens SRM Contractors' position in the Maharashtra construction market and demonstrates the company's capability to secure large-scale infrastructure projects. The ₹483 crore contract value represents substantial revenue potential for the company over the 12-month project duration. The association with MSIDC, a key state development corporation, may also enhance the company's credentials for future government infrastructure projects in the region.

SRM Contractors Limited has submitted the audio recording of its Q3 and 9MFY26 earnings conference call to BSE and NSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The earnings call was held on February 16, 2026, and the audio submission was filed on February 17, 2026.

Regulatory Compliance and Filing Details

The company submitted the earnings call audio recording to both stock exchanges with proper regulatory compliance. The filing was signed by Arun Mathur, Company Secretary & Compliance Officer, and addressed to the Department of Corporate Services at BSE Limited and The National Stock Exchange of India Limited. The audio recording is accessible via weblink and is also available on the company's website.

Strategic Highlights and Business Updates

The presentation outlined key strategic developments during the quarter. The company reported revenue from operations of ₹202.94 crore with EBITDA of ₹37.22 crore, resulting in an EBITDA margin of 18.34%. For 9MFY26, revenue from operations reached ₹537.56 crore with EBITDA of ₹89.05 crore and an EBITDA margin of 16.57%.

Leadership Appointments and Organizational Changes

Significant leadership changes were highlighted in the presentation. The company's members approved the appointment of Mr. Sanjay Mehta as Group Chairman and Non-Executive Director at the 17th Annual General Meeting. Mr. Mehta will focus on driving international business expansion, including development of the Abu Dhabi branch office and exploring opportunities in GCC and African markets. Concurrently, Mr. Puneet Pal Singh has been appointed as Managing Director.

Order Book and Capital Expenditure

As of December 2025, the company's order backlog totals approximately ₹1,423.79 crore. During 9MFY26, the company achieved an order inflow of ₹329.11 crore. The FY26 order bid pipeline stands at ₹4,271.85 crore. The company has incurred capex of ₹78 crore till 9MFY26 and plans to incur ₹90 to 95 crore in capex for FY26.

Financial Guidance and Future Outlook

The company provided comprehensive guidance for FY26 performance. Management expressed confidence in achieving topline revenue of ₹800-900 crore in FY26 with EBITDA margin guidance in the range of 16-17%. The company also intends to expand its footprint into Hybrid Annuity Model (HAM) projects and further diversify its presence across India's markets.