Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Sep
Source: Bse
Enviro Infra Engineers Limited (EIEL)
Micro CapInfra stocks · Micro cap · NSE
Enviro Infra Engineers Limited (EIEL) designs, constructs, operates, and maintains Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs). The company has diversified into renewable energy (Solar, Wind, BESS) and focuses on waste-to-energy solutions.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals14 Oct 2026 · screener
Latest result11 Aug, 07:00 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.4 (n=87)
Technical timing lens
Trend score and candlestick chart
37BearishSMA20 -4.6% / mo · MACD + · sector -2.7pp vs Nifty 500 (3M)
Stock trend: 38
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -5.6%
Infra FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
EIELD candles · FIT view-11.7%Latest close ₹182.45 on 2026-10-19
Bar
-2.4%
RSI
41
MACD hist
0.29
52W pos
39%
2026-10-19O ₹186.90H ₹186.90L ₹181.66C ₹182.45Vol 2.7L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
EIELNifty InfraNifty 500
- EIEL
- -20.4%
- Nifty 500
- -5.6%
- Nifty Infra
- -8.2%
- Vs Nifty 500
- -14.9 pp
Chart stats
19 Oct 2026- From 52W high
- -29.2%
- 52W range position
- 39%
- ATR (14)
- 3.7%
- Volume vs 20D
- 0.36x
- Avg traded value
- ₹14.2 Cr
- 20D price channel
- ₹176.3 - ₹207
₹257.7
₹134.7 - ₹257.7
₹6.8
Latest completed session
20-session average
30.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE52
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +49.0% · PAT +7.1% YoY
Technical
Bearish37
Price trend and sector-relative-strength timing.
Valuation
Legacy model+23.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 32/100margin compression · Rev +49% YoY · PAT +7% YoY
Filed 11 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹359 Cr | +49.0% | -15.9% |
| EBITDA | ₹76 Cr | +18.8% | -5.0% |
| Operating margin | 21.0% | -600 bps | +200 bps |
| PAT | ₹45 Cr | +7.1% | -16.7% |
| PAT margin | 12.5% | -490 bps | -12 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 17.50
- P/B
- 2.61
- EV/EBITDA
- 11.43
- Market Cap
- 3213.00Cr
Profitability
- ROE
- 16.80%
- ROCE
- 20.20%
- ROA
- 12.75%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 56.00%
- EPS 5Y
- 85.00%
- Revenue 3Y
- 50.00%
- EPS 3Y
- 50.00%
Balance Sheet
- Debt/Equity
- 0.34
- Interest Coverage
- 6.70×
- Altman Z
- 8.76
- Book Value
- 70.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- -63.00 Cr
- EPS TTM
- 10.31
Shareholding
- Promoter Hold
- 70.23%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 39%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,146+7.5% vs prev
Net Profit
₹ CrLatest: 188+6.2% vs prev
Return on Equity
%Latest: 15.3-14.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 41. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~4.9% over last month) — short-term momentum negative.
- RSI(14) at 41 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 29% off 52W high · 35% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
30
RS percentile
Stage 1 Base / Transition
1M return
-8.8%
3M return
-20.4%
6M return
-14.0%
1Y return
-24.0%
RS 1D
-2
RS 20D
-21
Sector rank
#16
Industry rank
#70
Stage evidence
- Price is 8.6% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +2.6% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 76.08-1.27%
RS vs Nifty 50076
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 52 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
FAIR_VALUE
Fundamental score breakdown
U band · FAIR VALUEValuation7/30
Growth23/25
Quality9/20
Balance Sheet9/15
Cash Flow1/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
52
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
52/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 23.4%.
- Growth contributes 23/25 to the score.
- Balance sheet contributes 9/15 to the score.
Main drags
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Quality is weaker at 9/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
17.5
PB
2.6
EV/EBITDA
11.4
ROE
16.8%
ROCE
20.2%
FCF Yield
—
Debt/Equity
0.3
MoS
+23.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
52
Previous: 52
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+23.4%
Previous: +23.4%
Score history
12 stored score snapshots. Latest stored move: -3 points.
21 Oct 2026
v4.3-runtime-valuation
54
54
55
54
54
52
52
52
54
54
55
52
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹127.61
-43.0% MoS
Growth-justified P/E
23.1
Growth-justified Value
₹238.16
+23.4% MoS
PEG
0.25
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ASHOKA
Micro
Ashoka Buildcon Limited
Construction & Engineering
match 65
58
4.3
0.7%
+19%
FAIR VALUE
AHLUCONT
Micro
Ahluwalia Contracts (India) Limited
Construction & Engineering
match 64
57
16.5
13.8%
+28%
FAIR VALUE
PNCINFRA
Micro
PNC Infratech Limited
Construction & Engineering
match 64
45
6.1
2.4%
-110%
WATCHLIST
HGINFRA
Micro
H.G. Infra Engineering Limited
Construction & Engineering
match 62
26
10.3
8.5%
-58%
OVERVALUED
AGIIL
Small
Agi Infra Limited
Construction & Engineering
match 60
52
31.9
25.0%
-28%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-09T07:10:06.383Z
Management commentary snapshot
EIEL reports strong FY26 revenue growth of 7.46% YoY to 456 Mn, with PAT up 6.34% to 884 Mn. Q4 FY26 revenue grew 8.75% YoY to 273 Mn, but EBITDA and PAT margins declined significantly QoQ and YoY.
EIEL delivered robust annual growth in FY26, driven by its core water infrastructure and new renewable segment. Q4 saw strong revenue but notable margin contraction. The significant increase in the consolidated order book, especially with the Suyog Urja acquisition, provides strong revenue visibility and strategic diversification, though execution and margin stability in renewables need monitoring.
Current business mix
FY26 Revenue by Project Type (Consolidated)
Latest issuer-disclosed distribution across 5 reported categories.
WWTPS65.0%
WSSP18.0%
Renewables11.0%
O&M4.0%
Annuity2.0%
Growth engines
Water & Wastewater Infrastructure
Strengthened core business by completing complex projects ahead of time, improving pre-qualifications.
Renewable Segment Diversification
Forayed into Solar, Wind, and BESS, acquiring IPP projects and a Wind EPC company (Suyog Urja).
Focus on Waste-to-Energy
Continued focus towards 'Waste to Energy' and foray into CBG generation from agricultural waste.
High Value & Capacity Projects
Continued focus on high value and high capacity complex wastewater treatment projects.
Capacity and execution
Suyog Urja Wind EPC Pipeline
Active execution pipeline of approximately 1,702 MW from acquired Suyog Urja Limited.
BESS Projects
Secured 930 MWH BESS projects from NTPC under EPC.
Solar IPP Projects
Acquired some Solar IPP Projects (79 MW).
Tailwinds
Increasing Investments in Water Infrastructure
Well-positioned to capitalize on long-term growth opportunities in water infrastructure.
Renewable Energy & Storage Investments
Increasing investments in renewable energy and energy storage in India.
Government Initiatives (Namami Gange)
Completed 55 MLD STP at Varanasi under Namami Gange, strengthening urban sanitation.
Headwinds
Delay in Order Wins & Execution
Delay in evaluation of bids, delayed start of execution due to longer design approval phase.
Global Crisis Impact
Global crisis in March led to a spillover in Topline from projections.
Risk radar
Working Capital Management
Adjusted Net Cash Flow from Operating Activities declined to ₹37 Mn in FY26 from ₹278 Mn in FY25.
Margin Volatility
Q4 FY26 EBITDA margin declined significantly to 18.70% from 25.31% YoY and 27.10% QoQ.
Integration Risk (Acquisition)
Integration of Suyog Urja Limited, a Wind EPC company, with an active execution pipeline of 1,702 MW.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company exhibits seasonality with Q4 typically being the strongest quarter for revenue. Therefore, both YoY comparison is crucial for understanding annual growth and seasonal trends, while QoQ comparison helps assess sequential momentum and recent margin performance.
Sector KPIs management disclosed
Revenue from Operations (FY26)
₹11,456 Mn, up 7.46% YoY.
EBITDA (FY26)
₹2,768 Mn, up 3.38% YoY, with margin of 24.16% (down 96 Bps YoY).
PAT (FY26)
₹1,884 Mn, up 6.34% YoY, with margin of 15.86% (down 46 Bps YoY).
Consolidated Order Book
₹68,136 Mn as on date, reflecting 242% YoY growth.
Management forward view
Transformational Year
FY26 was a transformational year, strengthening core business and integrating waste-to-energy focus.
Diversification & De-risking
De-risked the company by major diversifications and entering into B2B segment through Renewables.
Integrated Renewable Platform
Strategic synergies from Suyog Urja acquisition create an integrated platform: Solar EPC + Wind EPC + BESS/Storage.
Sustainable Value Creation
Well-positioned to capitalize on long-term growth opportunities and deliver sustainable value creation.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Book Execution | ₹68,136 Mn consolidated order book. | Monitor timely execution of large order book, especially new renewable projects. |
| Renewables Segment Performance | 11% of FY26 revenue from Renewables. | Track revenue contribution, profitability, and integration of acquired renewable assets. |
| Operating Margins | Q4 FY26 EBITDA margin 18.70%. | Observe stabilization and improvement in operating margins, particularly after Q4 decline. |
| Working Capital & Cash Flow | Adjusted Net Cash Flow from Operating Activities ₹37 Mn. | Monitor improvement in operating cash flows and working capital management. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 68th percentile within Infra. Main check: cash conversion is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
37 docs text-extracted · 13 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Infra: 68th pctile, median 64 · Micro: 43rd pctile, median 73
Evidence depth
Financial-only
37 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
40
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
72
acceptable · capital discipline
Results
72
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 70.2%.
- ▸Promoter pledge is zero.
- ▸ROCE is 20.2%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-63 Cr.
- ▸ROCE trend is -12.8%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Enviro Infra Engineers Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep - Management to meet investors/analysts in Mumbai on September 9 and 10, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug - Newspaper Publication - Intimation of 16h AGM
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Aug - Newspaper Publication - Pre-Intimation of 16th AGM
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Newspaper Publication - Unaudited Financial Results for the quarter ended 30.06.2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Jul - EIEL secures ₹256.92 crore EPC HAM orders for two STPs in Varanasi with 15-year O&M.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Jul - Enviro Infra gets ₹130.14 crore LOA for 60 MLD STP at Lohta, Varanasi under HAM PPP.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 28 May - Enviro Infra reported FY26 revenue ₹11,456 million, PAT ₹1,884 million, and ₹68,136 million order book.
Source: Bse
AnnouncementQ4 2026
Q4 2026 · Announcement Under Regulation - 30 - Update On Litigation/Dispute 6 May - Company wins ₹8.65 crore arbitral award against HSIIDC for Faridabad and Rohtak CETP projects.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 1 May - Received LoA for Gujarat EPC and 10-year O&M contract worth ₹113.51 crore.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.