Ramky Infra achieves debt-free status
Targets 5X growth in next five years
image for illustrative purpose
Ramky Infrastructure Limited, a key player in industrial parks, water and wastewater management, and urban solutions, closed 2025 on a high note with a debt-free balance sheet and strong growth momentum heading into 2026.
The company’s year-end update underscores disciplined bidding on large-scale projects valued between Rs1,000 crore and Rs2,000 crore, boosting its order book to Rs10,000 crore —providing 2-2.5 years of revenue visibility.
Ramky also announced laying of domestic pipeline worth about $1 billion and an international one nearly Rs1,000 crore, primarily in industrial parks and water projects. Work is balanced across EPC (40 per cent), Hybrid Annuity Model (HAM, 30 per cent), and Operations & Maintenance (O&M, 30 per cent), blending short-term execution revenues with long-term cash flows.
Ramky emphasized in-house execution capabilities, delivering projects like sewage treatment plants (STPs) in 18-20 months under EPC, HAM, PPP, and O&M models. The buildings vertical remains active, with 15 million sq ft built and another 15 million under construction. A key highlight was treating commissioning as a seamless transition to operations, aligning designs for 15-20-year sustainability in water and wastewater projects.
Post-restructuring (now five years complete), Ramky reports no standalone term debt, only working capital facilities and project-specific HAM borrowings of Rs160 crore. It eyes Rs800-1,000 crore in leverage via asset monetization from annuity cash flows.
Q2 FY26 results reflected this stability: consolidated revenue hit Rs4,716 million (EBITDA Rs1,420 million, PAT Rs778 million); standalone figures were Rs4,448 million (EBITDA Rs1,172 million, PAT Rs679 million). FY26 guidance projects 25-30 per cent revenue growth, 22-23 per cent EBITDA, and 13-15 per cent PAT, with a 5x growth ambition over five years.
Sunil Nair, CEO, Ramky Infrastructure Ltd, said, “Our Q2 results reflected the successful realization of the strategic goals we set earlier this year and the enhanced stability we have achieved since the restructuring exit. This performance confirms that our company is well-positioned for sustainable growth, consistent performance, value creation, and long-term stakeholder confidence”.
The foundation is now strong, and we are ideally positioned to capture the significant opportunities emerging in the industrial infrastructure, water, and urban solutions areas. Looking ahead, we remain focused on disciplined bidding for government-backed projects, capital recycling, and sustainability-led growth, he told the media here on Tuesday.
