Enviro Infra Engineers, a leading player in India’s water and wastewater infrastructure sector, has bagged new projects worth INR 76.96 crore. This is a continuation of EIEL’s growth in the water infrastructure space and is in line with the company’s strategy to integrate sustainability and expand its technological footprint.
According to the company’s press release, the new orders comprise two key infrastructure projects — EPC development of 77 MLD Sewage Treatment Plant (STP) and Operation & Maintenance (O&M) of 21 MLD Common Effluent Treatment Plant (CETP). Both the projects are under government backed initiatives to improve sanitation and environmental sustainability in India.
Notably, Ace investor Mukul Mahavir Agrawal holds 18,00,000 share (worth INR 36.5 crore) in Enviro Infra Engineers, reflecting 1% stake in the company.
Government Partnerships
Mr. Sanjay Jain, Chairman and Whole-Time Director of EIEL said: “We are happy to have been awarded these big projects by Government Bodies. Our focus will be on delivering quality, sustainable and timely solutions for the nation’s water management and sanitation goals. We will maintain highest standards of engineering and execution.”
Company Profile and Operational Strength
EIEL was established over 15 years back and has grown to be one of the most recognized name in Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs). The company boasts of end-to-end in-house capabilities — from designing and engineering to civil construction and post-commissioning operations — which enables project delivery and reduces third party dependencies.
EIEL has a team of 211 engineers supported by industry consultants to ensure compliance with regulatory standards. This internal structure has been key to the company’s ability to deliver quality while scaling up operations across the country.
Financial Performance and Order Book
The new order of INR 76.96 crore adds to the company’s already robust order book. As of Dec 2024, EIEL’s order book was INR 2,425 crore comprising INR 1,687 crore of core project orders and INR 738 crore of O&M contracts. The company has bid for INR 2,164 crore of new projects and has pipeline visibility.
Financials
- Q3 FY25: Net sales up 65% (INR 247.45 crore) and net profit up 111% (INR 36.72 crore) vs Q3 FY24.
- 9MFY25: Net sales up 55% (INR 665.65 crore) and net profit up 108% (INR 103.06 crore) vs previous year.
- FY24: Net sales INR 728.20 crore, Profit before tax INR 147 crore, Net profit INR 106.46 crore.
With a market capitalization exceeding INR 3,000 crore, EIEL is drawing increasing attention among investors, especially with favorable comparisons to listed peers such as EMS Ltd, Ion Exchange (India) Ltd, VA Tech Wabag, and Vishnu Prakash R Punglia.
Entry into Renewable Energy with Acquisition of EIE Renewables
In a separate disclosure to the stock exchanges, EIEL has approved the acquisition of 100% equity in EIE Renewables, a new company incorporated for non-conventional energy generation. Although this is an entry into an adjacent but different space, it is part of the company’s long term strategy to get into sustainable energy solutions.
The acquisition is a related party transaction involving promoter directors Mr. Sanjay Jain and Mr. Manish Jain for an initial investment of INR 10 lakh. EIEL will also infuse INR 49.90 crore in subsequent tranches to expand its renewable energy infrastructure.
Enviro Infra Post-IPO Performance
Enviro Infra Engineers launched its IPO on 26 November 2024 with an issue size of INR 732.60 crore. The IPO got an overwhelming response from the investors which leads the subscription to 89.90X. EIEL is listed with 39..91% return on listing day. Post-listing it made an all-time high of INR 380.59, reflecting a multibagger returns of ~157%. Currently, it is trading around INR 204 per share (a correnction of ~46% from its 52-week high).
Final Words
Enviro Infra Engineers new project win will prove the company’s operational capabilities and reinforces its leadership in India’s water infrastructure space. Along with its foray into renewables, the company is all set to play a key role in India’s shift towards cleaner, efficient and sustainable urban infrastructure.
With a growing order book, good profitability and a deliberate push into green energy, EIEL looks good for long term growth. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.