SPML Infra Limited (NSE: SPMLINFRA) announced its results for the quarter and half year ended September 30, 2026, marking a decisive turnaround in operating cash flow alongside continued growth in revenue and profitability. The company reported a revenue of ₹3,238.7 crore, a 20% year-on-year increase. Profit after tax (PAT) surged by 46% to ₹322.2 crore. Moreover, the company generated a positive operating cash flow of ₹82.4 crore for the first half of FY27, compared to an outflow of ₹344.1 crore in H1 FY26.

Financial Highlights

The company’s cash and cash equivalents stood at ₹3,119.2 crore as of September 30, 2026, an 88% increase from ₹363.4 crore as of March 31, 2026. The EBITDA margin improved to 11.0% in Q2 FY27 from 10% in Q2 FY26. The net worth increased to ₹1,184.6 crore, supported by profit accretion and warrant conversion.

New Order Wins

SPML Infra recently secured a ₹3,186.41 crore order from Power Grid Corporation of India Limited (POWERGRID) for the extension of the 765/400/220 kV Bhadla-III Substation and Ramgarh Pooling Station, marking its entry into 765 KV transmission infrastructure. This reflects the increasing contribution from new orders secured under SPML 2.0, as the company transitions from order wins to revenue, earnings, and cash generation.

With H1 revenue growth of 45% year-on-year, the company maintains its guidance of a minimum 25% growth for FY27. Abhinandan Sethi, Managing Director, SPML Infra Limited, said: “H1 FY27 marks an important milestone in SPML Infra’s transformation journey, as the growth achieved under SPML 2.0 is now translating into stronger profitability, positive operating cash flows, and an increasingly resilient balance sheet.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of SPML Infra Limited

SPML Infra Limited belongs to the Industrials › Engineering & Construction sector. Here’s a quick read on where the business and the stock stand today.

SPML falls 15.9% over three months and has not found a floor yet. The PEG of 0.03 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Thin margins at 8.6% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock gains 5.9% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. The stock rises -15.9% in three months on -1.4% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of SPML Infra Limited.

Markolines Pavement Technologies Limited (NSE: MARKOLINES), a leading highway operations and maintenance (O&M) and specialized infrastructure solutions company, announced its unaudited financial results for the quarter and half year ended September 30, 2026. The company reported an EBITDA of ₹11.34 crore, registering a 24.62% year-on-year growth in Q2 FY27. Moreover, revenue from operations stood at ₹86.02 crore, reflecting a 10.75% YoY increase. The company’s strong performance is driven by better project execution and in-house capabilities.

Financial Highlights

For H1 FY27, revenue from operations reached ₹161.88 crore, marking a 7.64% growth year-on-year. EBITDA increased by 16.95% to ₹20.51 crore, while PAT stood at ₹9.31 crore. The company’s EBITDA margin improved to 12.67%, and PAT increased by 18.25% to ₹4.95 crore in Q2 FY27.

Key Developments

The company secured two work orders from the Brihanmumbai Municipal Corporation (BMC), aggregating to ₹135.20 crore (inclusive of GST), for microsurfacing and resurfacing works on Mumbai’s Eastern and Western Express Highways. Additionally, Markolines continues to explore opportunities in Marine Infrastructure Construction & Maintenance, including jetty construction and the repair and maintenance of marine facilities.

As the company remains focused on leveraging its in-house capabilities, strengthening working capital management, and improving project execution efficiency, it aims to support its future growth ambitions.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Markolines Pavement Technologies Limited

Markolines Pavement Technologies Limited belongs to the Industrials › Infrastructure Operations sector. Here’s a quick read on where the business and the stock stand today.

Markolines moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.72 signals undervaluation relative to growth. It is a potential re-rating candidate. Thin margins at 7.6% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock holds at 51% of its 52-week range with RSI at 38. In other words, neither side has a clear edge right now. Revenue grows at 9.2% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Markolines Pavement Technologies Limited.

Nupur Recyclers Limited (NSE: NRL) has announced its Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026, marking a record performance in Q2 FY27. The company’s Profit After Tax (PAT) more than doubled year-on-year to ₹879.84 Lakh, registering a growth of 103.06%. This impressive financial performance is supported by enhanced production capacity, new orders, and operational efficiencies.

Financial Performance

In Q2 FY27, Total Revenue surged 124.86% year-on-year to ₹11,620.80 Lakh. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also surged 148.48% year-on-year to ₹1,572.95 Lakh, achieving a margin of 13.54%. The PAT expanded 103.06% year-on-year to ₹879.84 Lakh, with a PAT margin of 7.57%.

Subsidiary Contributions

The core subsidiaries also contributed significantly to the overall performance. Tycod Autotech Private Limited reported a revenue of ₹1,583.30 Lakh in Q2 FY27, with capacity utilisation rising to 30% from 10% in Q1 FY27. Frank Metals Recyclers Limited reported a revenue of ₹6,422.80 Lakh, and Nupur Extrusion Private Limited reported a revenue of ₹1,347.96 Lakh.

Future Prospects

Looking ahead, Nupur Recyclers Limited is on track to commission its 6,000 MTPA Lithium Iron Phosphate (LFP) Battery Recycling facility in Q4 FY27. This project, funded through internal accruals, is expected to position the company early in a segment anticipated to see significant growth as India’s EV and energy storage ecosystem matures. The company remains committed to disciplined capital allocation and a strong balance sheet as it scales.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Nupur Recyclers Limited

Nupur Recyclers Limited belongs to the Industrials › Waste Management sector. Here’s a quick read on where the business and the stock stand today.

Nupur gains 47.7% over three months and trades near its 52-week highs. The PEG stands at 13.40 — severely stretched. Any earnings miss could trigger a sharp de-rating. Thin margins at 7.0% leave limited room for error — any demand softness or cost spike hits the bottom line hard. RSI hits 76, a level that signals the stock runs hot. Notably, buyers drove volume on 17 recent sessions — though at these levels, some profit-taking is normal. The stock rises 47.7% in three months on 4.9% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Nupur Recyclers Limited.