Enviro Infra Engineers Reports Significant Progress in IPO Fund Utilization for Q3 2025

Enviro Infra Engineers Limited , a prominent player in the engineering, designing, and construction sector, has released its latest monitoring agency report, detailing the utilization of proceeds from its Initial Public Offering (IPO) for the quarter ended September 30, 2025. The report, prepared by CRISIL Ratings Limited, provides a comprehensive overview of how the company has allocated its funds across various objectives outlined in its offer document.

IPO Fund Allocation and Utilization

The company raised a total of Rs 650.30 crores through its IPO in November 2024, comprising a fresh issue of Rs 572.35 crores and an offer for sale of Rs 77.95 crores. Here's a breakdown of how the funds have been utilized:

Objective	Amount Allocated (Rs in lakhs)	Amount Utilized (Rs in lakhs)	Unutilized Amount (Rs in lakhs)
Working Capital Requirements	18,100.00	16,414.07	1,685.93
Subsidiary Fund Infusion (EIEL Mathura)	3,000.00	3,000.00	0.00
Loan Repayment	12,000.00	12,000.00	0.00
Inorganic Growth and General Corporate Purposes	18,627.25	9,853.49	8,773.76
Total	51,727.25	41,267.57	10,459.69

Key Highlights of Fund Utilization

Working Capital

During the reported quarter, the company utilized Rs 739.61 lakhs for working capital requirements, bringing the total utilization to Rs 16,414.07 lakhs.

Subsidiary Fund Infusion

The company completed its planned investment of Rs 3,000 lakhs in EIEL Mathura Infra Engineers Private Limited for the Mathura Sewerage Scheme project.

Loan Repayment

The entire allocated amount of Rs 12,000 lakhs for loan repayment has been utilized.

Inorganic Growth and General Corporate Purposes

A significant investment of Rs 2,500 lakhs was made towards EIE Renewables Private Limited under this category during the quarter.

Unutilized Funds and Investment

As of September 30, 2025, Enviro Infra Engineers has Rs 10,459.69 lakhs of unutilized IPO proceeds. The majority of these funds (Rs 10,586 lakhs) have been invested in a fixed deposit with HDFC Bank, earning an interest rate of 6.30% with a maturity date of September 23, 2026.

Compliance and Monitoring

CRISIL Ratings Limited, acting as the monitoring agency, has reported no deviations from the disclosed objectives. The agency confirmed that the proceeds are being utilized as per the offer document, ensuring transparency and adherence to regulatory requirements.

Conclusion

Enviro Infra Engineers Limited's systematic approach to fund utilization reflects its focus on strengthening its financial position, supporting subsidiary operations, and pursuing growth opportunities. With a significant portion of the IPO proceeds already deployed and the remainder strategically invested, the company appears well-positioned to execute its business plans and create value for its shareholders.

Investors and stakeholders can take confidence in the transparent reporting and the company's adherence to its stated objectives, as validated by the independent monitoring agency.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.42%	-0.44%	-10.35%	-13.91%	+4.92%	+4.92%

Enviro Infra Engineers Limited , a key player in India's water and wastewater management sector, has reported a strong financial performance for Q2 FY26, with significant growth in profitability and a healthy order book.

Financial Highlights

For the second quarter of FY26, Enviro Infra Engineers achieved the following results:

Metric	Q2 FY26	YoY Growth
Revenue	₹227.00 crores	6.70%
EBITDA	₹65.00 crores	16.80%
EBITDA Margin	28.56%	-
Profit After Tax (PAT)	₹50.00 crores	36.00%
PAT Margin	20.50%	-

The company's performance for the first half of FY26 was equally impressive:

Metric	H1 FY26	YoY Growth
Revenue	₹468.00 crores	12.00%
EBITDA	₹129.00 crores	20.80%
PAT	₹92.00 crores	38.60%

Order Book and New Projects

Enviro Infra Engineers' total execution order book stands at over ₹1,800.00 crores, supported by an operation and maintenance portfolio of ₹932.00 crores. The company recently secured a new order worth ₹248.00 crores from Bhopal Municipal Corporation for the EPC of a 60 MLD STP and a 273-kilometer sewer network.

The company has submitted bids for projects worth over ₹8,000.00 crores and maintains its guidance for a fresh order book of ₹2,500.00 crores in FY26. This robust pipeline suggests strong growth potential in the coming quarters.

Renewable Energy Expansion

Enviro Infra Engineers is also making strides in the renewable energy sector. The company is developing two solar assets totaling 69 megawatts and has provided revenue guidance of ₹200.00 crores from renewables for the current financial year.

Management Commentary

Manish Jain, Managing Director of Enviro Infra Engineers, commented on the results during the earnings call: "Q2 has been a period of resilient performance, consistent execution, and continued strategic progress across our key business segments. Despite a seasonally moderated pace of process billing, the company maintained healthy profitability and robust operational momentum, supported by strong order inflows and disciplined execution."

Future Outlook

The company remains optimistic about its growth trajectory, citing increased momentum in bid invitations since January 2025. Management expressed confidence in exceeding the guidance for a fresh order book of ₹2,500.00 crores in FY26.

Enviro Infra Engineers is also diversifying its geographical footprint with new projects across Maharashtra and Odisha, and is making progress in its renewable energy integration strategy, which aligns with its sustainability-led growth roadmap.

With a strong order book, expanding technology footprint, and clear path for profitable and sustainable growth, Enviro Infra Engineers appears well-positioned to capitalize on the growing opportunities in India's water and wastewater management sector.