Enviro Infra Engineers (EIEL), a leading player in India’s environmental infrastructure space, has announced its audited consolidated financials for the quarter and year ended 31 March 2025. The numbers show a good all round performance across financials and operational parameters with growing order book, margin resilience and foray into clean energy. Notably, ace investor Mukul Agrawal holds 18,00,000 shares (1% stake) worth INR 45.9 crore in the company.
Enviro Infra Q4 FY25 Results
EIEL has seen impressive YoY growth in revenues, profits and operational parameters in Q4 and FY25. The company has shown execution discipline and financials strength riding on infrastructure demand driven by government urbanization initiatives and sustainability targets.
Quarterly Snapshot (Q4FY25 vs Q4FY24)
| Metric | Q4FY25 | Q4FY24 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | 392.9 | 300.3 | 30.82% |
| EBITDA (Excl. Other Inc.) | 99.4 | 85.9 | 15.81% |
| EBITDA Margin (%) | 25.31% | 28.59% | -328 bps |
| PAT | 74.1 | 57.0 | 29.98% |
| PAT Margin (%) | 18.36% | 18.77% | -42 bps |
While EBITDA margins slightly compressed in Q4, overall performance reflected strong operational leverage and efficient project delivery.
Enviro Infra FY25 Results (FY25 vs FY24)
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | 1,066.1 | 728.9 | 46.25% |
| EBITDA (Excl. Other Inc.) | 267.8 | 166.5 | 60.82% |
| EBITDA Margin (%) | 25.12% | 22.84% | +228 bps |
| PAT | 177.1 | 106.5 | 66.40% |
| PAT Margin (%) | 16.32% | 14.42% | +190 bps |
Cash Flow Reversal and Balance Sheet Fortification
A big positive was the cash flow from operations. Cash flows before tax turned positive INR 25.7 crore from a negative of INR 78.2 crore in FY24 due to better receivables management and control.
Debt-to-Equity Ratio improved to 0.24x (from 0.80x) and Net Worth is INR 994.5 crore. This deleveraging will help EIEL to bid for bigger government projects and green projects which are capital intensive. Return on Capital Employed (ROCE) for FY25 was 22.62% which is above industry average.
Enviro Infra FY25 Order Book and Pipeline
As of 31 March 2025, EIEL’s unexecuted order book is INR 1,185 crore and additional INR 806 crore in long term O&M contracts. The company has also got INR 200 crore of new orders in early FY26 which shows sustained demand and bidding competitiveness. Notably, the company has a INR 5,000 crore+ bid pipeline which means good revenue visibility for medium term.
Strategic Diversification: Leap into Clean Energy
In line with India’s energy transition agenda, EIEL has formed a wholly-owned subsidiary — EIE Renewables— to focus on solar, hydropower, compressed biogas (CBG), green hydrogen, and 24×7 renewable energy solutions.
This diversification not only broadens EIEL’s revenue streams but enhances its ESG profile, appealing to institutional investors increasingly prioritizing sustainable infrastructure investments.
Sectoral Context and Government Support
EIEL’s core business aligns closely with national priorities in urban transformation and water infrastructure:
- Jal Jeevan Mission (JJM)
- Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
- National Mission for Clean Ganga (NMCG)
These schemes are collectively driving billions in annual infrastructure spend, with an emphasis on quality, sustainability, and zero-liquid-discharge (ZLD) compliance — all areas where EIEL is strongly positioned.
With 52 completed projects and an in-house team of over 211 engineers, the company leverages internal execution capability and strategic joint ventures to maintain quality and scale.
Leadership Commentary
“Our company has delivered a strong quarter, with a 31% YoY revenue growth in Q4 and a 30% rise in PAT, reflecting our operational efficiency and execution capabilities,” said Mr. Sanjay Jain, Chairman, Enviro Infra Engineers.
“Our execution pipeline remains strong, supported by an INR 1,185 crore order book and further supplemented by INR 5,000 crore worth of active bids. Our clean energy subsidiary marks a strategic leap toward long-term sustainability and value creation.”
Risks and Outlook
While Enviro Infra Q4 FY25 financials remain strong, EIEL’s forward-looking statements caution against regulatory, political, and economic uncertainties that may affect execution timelines or funding flows. Investor vigilance is warranted, particularly around:
- Timely execution of government-funded projects
- Delays in payments or tenders from municipalities or public bodies
- Rising input costs (cement, steel, energy) that could pressure margins
- Execution risk in new sectors like green hydrogen and solar, which have different technical and commercial dynamics
That said, with a deleveraged balance sheet, healthy margins, and a government-aligned project portfolio, EIEL remains well-insulated from private sector demand cyclicality.
Conclusion
Enviro Infra FY25 results affirm its standing as a high-growth, infrastructure-focused company with strong operational fundamentals and strategic foresight. Its entrance into clean energy, coupled with robust project execution and financial prudence, sets the stage for long-term value creation.
For investors looking at India’s infrastructure and ESG transformation stories, EIEL offers an attractive blend of growth, stability, and sustainability. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.