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Bondada Engineering FY25 Performance: A 10GW Vision Backed by Solid Execution
Bondada Engineering FY25 performance showcases a strategic inflection point. The company is rapidly scaling operations with a strong orderbook and aggressive growth strategy, eyeing a 10GW renewable capacity. The latest results demonstrate both topline strength and operational efficiency.
Highlights at a Glance
- Orderbook: Rs 5,044 crore — 3x FY25 revenue guidance
- H2FY25 Revenue: Rs 1,091 crore vs Rs 505 crore YoY (+116%)
- H2FY25 EBITDA: Rs 127 crore vs Rs 50 crore YoY (+155%)
- Operating Profit Margin (OPM): 11.6% vs 9.8% YoY
- H2FY25 PAT: Rs 79 crore vs Rs 31 crore (+152%)
- FY25 EBITDA: Rs 183 crore vs Rs 71 crore YoY
- FY25 OPM: 11.7% vs 8.9%
- Tenders Submitted: Rs 1,675 crore
- Tenders Identified for Participation: Rs 4,670 crore
- Vision 2030: Rs 10,000 crore revenue, 10GW renewable mission
Revenue Analysis: Bondada Engineering FY25 Performance
Bondada Engineering FY25 performance in terms of revenue growth has been exceptional. A 116% YoY surge signals solid project execution in EPC and telecom infrastructure.
Key Contributors:
- Growth in telecom infra services
- Higher project execution in solar and smart city verticals
- Strong pace of tender conversion and deployment
Profit Trends & Margin Expansion
Operating profit margins improved by 180 basis points YoY to 11.6% in H2FY25. This margin expansion is driven by:
- Better resource utilization
- Improved pricing power
- Economies of scale
The company’s net profit almost tripled YoY in H2FY25, underscoring execution efficiency and disciplined cost control.
Orderbook Strength & Future Visibility
With an orderbook of Rs 5,044 crore, Bondada Engineering has 2.8x visibility against projected FY25 revenues. The pipeline includes:
- Rural electrification
- Telecom infra development
- Solar park EPC
Tendering Funnel:
- Rs 1,675 crore worth of tenders already submitted
- Rs 4,670 crore identified tenders in various evaluation stages
Vision 2030: 10GW Renewable & Rs 10,000 Cr Revenue
Bondada Engineering FY25 performance is a stepping stone toward its FY30 goal of Rs 10,000 crore in revenue.
Strategic Pillars:
- Renewable Energy EPC: 10GW target
- Geographic Expansion: Tier 2/3 city infra
- Digital Infra: Smart grids, telecom towers
Industry Comparison
| Company | Revenue (FY25E) | EBITDA Margin | Orderbook Strength | Focus Area |
|---|---|---|---|---|
| Bondada Engineering | ~Rs 1,800 crore | 11.7% | 3x FY25 Revenue | Renewable, Infra, Telecom |
| KEC International | ~Rs 20,000 crore | 8.5% | 2.5x FY25 Revenue | Infra, T&D, Railways |
| Kalpataru Projects | ~Rs 18,000 crore | 10.2% | 3x FY25 Revenue | EPC, T&D, Oil & Gas |
Investor Takeaways
- Strong Execution Record: Margin expansion and timely project completion
- Solid Visibility: Robust orderbook and large tender pipeline
- Strategic Vision: 10GW renewable push is aligned with India’s net zero roadmap
- Undervalued Play: Still under radar vs larger EPC peers
Risks to Monitor
- Execution Risk: Given large-scale projects, delays or cost overruns
- Working Capital Cycle: EPC firms often face stretched receivables
- Tender Dependence: Future revenue tied to successful bid conversions
Conclusion
Bondada Engineering FY25 performance marks a new chapter in its growth story. With 152% PAT growth, 11.7% OPM, and a Rs 5,000+ crore orderbook, the company is on a steady path toward achieving its Rs 10,000 crore revenue vision by FY30.
For investors looking at a high-growth EPC player with renewable tailwinds, Bondada Engineering is a compelling story.
Explore More Infrastructure Stocks
Bondada Engineering Official Website
SEBI Listed Company Info on MoneyControl
Disclaimer: The projections of potential returns are based on current market conditions and company performance. Actual results may vary due to various factors, including market dynamics, economic conditions, and changes in the competitive landscape. Investors should conduct their own research and consult with financial advisors before making investment decisions.
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