Enviro Infra Engineers unit wins Rs 228 crore wind EPC order in Maharashtra

Enviro Infra Engineers Limited has expanded its renewable EPC pipeline after its step-down subsidiary, Suyog Urja Limited, received a Letter of Intent from ARIE Energy LLP for turnkey engineering, procurement and Construction works for a 100 MW wind power project in Maharashtra.

The contract, valued at about Rs 228 crore excluding GST, covers the development of the Ajani Wind Power Project at Ajani in Taluka Shirur Anantpal, Latur district. The project is scheduled to be executed by July 31, 2027.

The order is notable for Enviro Infra because it adds a sizeable wind EPC assignment to a business historically centred on water and wastewater infrastructure. Based on the company’s consolidated revenue from operations of Rs 1,145.60 crore in FY26, the contract value is equivalent to nearly 20 per cent of annual revenue, although the income will be recognised over the project execution period rather than immediately.

Suyog Urja will execute the project on a turnkey EPC basis, which generally involves responsibility for engineering, equipment procurement, construction and project delivery. Enviro Infra said its promoter, promoter group and group companies have no interest in ARIE Energy LLP. It also said the contract does not qualify as a related-party transaction.

The order supports the company’s broader push into renewable infrastructure, including Solar, wind and battery energy storage systems. Enviro Infra’s core platform remains water and wastewater treatment projects, but management has previously described renewables as an increasingly important second business line.

During its latest quarterly interaction, management said Suyog Urja was expected to contribute revenue of around Rs 400 crore to Rs 450 crore in FY27 and that wind EPC work typically carries EBITDA margins of around 15 per cent to 16 per cent. This is below the margin profile indicated for the company’s water and wastewater operations, which management expects to generate EBITDA margins of around 21 per cent to 22 per cent.

That difference in profitability makes execution and project-cost control important. Enviro Infra has indicated that renewable EPC carries lower margins than its legacy water business, while raw-material inflation and employee costs have also affected its consolidated margin profile. Construction projects are additionally exposed to procurement timelines, working-capital requirements and the timely achievement of billing milestones.

The company reported consolidated net sales of Rs 359.18 crore in the June 2026 quarter, up 49.09 per cent year on year. However, operating margin excluding other income declined to 21.07 per cent from 26.65 per cent a year earlier, while net profit rose 6.43 per cent to Rs 45.21 crore. The new wind order provides longer-term revenue visibility, but its financial contribution will depend on the pace of execution through the July 2027 deadline.

As of 3:40 pm on October 14, 2026, Enviro Infra Engineers shares were trading at Rs 186.60, up 1.77 per cent from the previous close. The stock has declined 24.53 per cent over the past year, compared with a 5.70 per cent fall in the BSE 500 over the same period. It was trading about 26.4 per cent below its 52-week high of Rs 253.45.

Disclaimer: The article is for informational purposes only and not investment advice.