Ramky Infrastructure delivered a strong earnings performance in the December quarter of FY26, with profitability emerging as the key driver. The company’s execution discipline and cost control were highlight of the quarter, even amid the moderate top-line growth.
The company reported a 32% year-on-year rise in consolidated net profit to ₹78 crore, compared with ₹59 crore in the year-ago quarter. Revenue from operations increased 6.3% YoY to ₹488 crore, reflecting steady project execution across core verticals.
Operating performance remained robust, with EBITDA at ₹137 crore, translating into a healthy EBITDA margin of 25%. The sharp margin profile highlights improved operating leverage, tighter cost controls and a focus on execution efficiency, key differentiators in a capital-intensive infrastructure environment.
Ramky continues to build momentum across its water and wastewater, industrial parks, and buildings businesses, with management placing increasing emphasis on long-tenure operations and maintenance (O&M) contracts as a stable, high-quality earnings stream.
Commenting on the quarter, Sunil Nair, CEO, Ramky Infrastructure, said the performance reflects the consistency the company has been building over multiple quarters. He emphasised that Ramky’s strategy remains anchored in predictable project delivery, selective bidding and protection of cash flows, positioning the company to participate in the next infrastructure upcycle without compromising balance-sheet strength.
The company’s approach of being selective on new project intake, while prioritising execution over aggressive growth, has helped stabilise operations and sustain margins in a sector often challenged by cost overruns and working capital pressures.
Ramky’s balance-sheet strategy remains centred on financial flexibility, supported by disciplined working capital management and tighter alignment between project risk, delivery capability and capital allocation. This posture is aimed at sustaining profitability while retaining the ability to scale as opportunities improve.
CFO Sravanth Rayapudi noted that the quarter demonstrated resilience in operating performance, with sequential revenue improvement and stable profitability underpinned by efficiency gains and cost discipline.
With margins holding firm and execution stability improving, Ramky Infrastructure appears to be shifting from volume-led growth to value-led expansion. As infrastructure spending gathers momentum, the company’s focus on operational efficiency, O&M-led annuity income and balance-sheet prudence could provide a competitive edge in capturing sustainable and profitable growth.