Arisinfra FY26 Results: Revenue ₹10,675 Mn, EBITDA ₹1,007 Mn; Investor Presentation on May 11

Arisinfra Solutions reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the Board approving the results on May 08, 2026. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements in Business Standard (English) and Navshakti (Marathi) on May 09, 2026. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has also scheduled an investor presentation on Monday, May 11, 2026, to be presented to analysts in connection with the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026. The company achieved consolidated revenue from operations of ₹10,674.63 Mn for FY26, a 39% year-on-year increase from ₹7,676.72 Mn in FY25. Profit after tax (PAT) surged to ₹602.85 Mn compared to ₹60.13 Mn in the prior year, marking a more than ten-fold improvement. The company transitioned to a net cash positive position, with cash and cash equivalents reaching ₹1,014.01 Mn as of March 31, 2026, compared to ₹2.58 Mn in the previous year.

Key Financial Highlights

The strong performance was driven by robust operational leverage and a strategic shift towards higher-margin segments. EBITDA for FY26 reached ₹1,007 Mn, representing an EBITDA margin of 9.43%, compared to ₹501 Mn and 6.53% in FY25. The following table summarises the consolidated quarterly and annual financial performance:

Metric: Q4 FY26 Q4 FY25 YoY Q3 FY26 QoQ Revenue from Operations (₹ Mn): 3,434 2,211 55.3% 2,708 26.8% EBITDA (₹ Mn): 305 101 NA 296 3.0% EBITDA Margin (%): 8.88% 4.57% 431 Bps 10.93% (205) Bps Finance Costs (₹ Mn): 61 114 (46.5)% 55 10.9% PAT (₹ Mn): 217 (5) NA 183 18.6% PAT Margin (%): 6.32% (0.23)% 655 Bps 6.76% (44) Bps Diluted EPS (₹): 2.58 (0.24) NA 1.89 36.5%

The annual consolidated performance reflects a consistent improvement trajectory across key metrics:

Metric: FY26 FY25 YoY Revenue from Operations (₹ Mn): 10,675 7,677 39.1% EBITDA (₹ Mn): 1,007 501 NA EBITDA Margin (%): 9.43% 6.53% 290 Bps Finance Costs (₹ Mn): 279 415 (32.8)% PAT (₹ Mn): 603 60 NA PAT Margin (%): 5.65% 0.78% 487 Bps Diluted EPS (₹): 6.84 0.36 NA

The standalone results also reflect a significant turnaround, with the company reporting standalone total income of ₹6,954.12 Mn for FY26 compared to ₹5,541.92 Mn in FY25. Standalone PAT stood at ₹249.07 Mn for FY26, reversing a loss of ₹176.77 Mn in the prior year. The following table presents the standalone financial performance:

Metric: Q4 FY26 FY26 FY25 Total Income (₹ Mn): 2,290.89 6,954.12 5,541.92 Net Profit / (Loss) After Tax (₹ Mn): 149.15 249.07 (176.77) Basic EPS (₹): 1.95# 3.26 (3.14) Diluted EPS (₹): 1.94# 3.23 (3.14) Equity Share Capital (₹ Mn): — 163.52 117.09 Reserves (₹ Mn): — 7,000.95 2,243.86

# Figures are for the period and not annualised

Historical Financial Performance

The company's consolidated financials demonstrate a sustained recovery and growth trajectory over four years. The following table presents the historical consolidated income statement:

Particulars (₹ Mn): FY23 FY24 FY25 FY26 Revenue from Operations: 7,461 6,968 7,677 10,675 EBITDA: (7) 128 501 1,007 EBITDA Margin (%): (0.09)% 1.84% 6.53% 9.43% Finance Costs: 239 323 415 279 PAT: (154) (173) 60 603 PAT Margin (%): (2.06)% (2.48)% 0.78% 5.65% Diluted EPS (₹): (4.13) (5.30) 0.36 6.84 Net Debt/Equity (x): 2.09 1.92 1.25 (0.09)

Operational KPIs and Segment Performance

The company expanded its operational scale significantly in FY26 across its three revenue streams — B2B Supply, Contract Manufacturing, and Developer-as-a-Service (DaaS). Contract Manufacturing revenue grew 95% YoY to ₹4,989 Mn, while DaaS revenue increased 109% YoY to ₹980 Mn. The revenue contribution from third-party manufactured materials rose to 46.73% from 33.38% in FY25. The following table highlights key operational developments in Q4 FY26:

Segment: Key Highlights Contract Manufacturing: Revenue grew 169% YoY in Q4 FY26; quantity delivered up 91% YoY to 11.29 Lakh MT; capacity utilisation improved to 50% from 39% in Q4 FY25 Asphalt (New Category): Revenue reached ₹299 Mn in Q4 FY26, up 88% sequentially; active customers nearly doubled to 28 from 15 in Q3 FY26 DaaS: Revenue of ₹361 Mn in Q4 FY26, up 264% YoY and 61% QoQ; 9 active projects with GDV under execution of ₹12,674 Mn

The DaaS vertical operates at 55–60% EBITDA margins, while Contract Manufacturing operates at 9–9.5% EBITDA margins. B2B Supply, which contributed 44% of FY26 revenue mix, operates at 2–2.5% EBITDA margins and serves as the network's entry point, deepening transaction data and pricing intelligence.

Balance Sheet and Cash Flow

The consolidated balance sheet reflects a materially stronger financial position. Total assets increased to ₹10,414.61 Mn from ₹6,966.95 Mn in FY25. Total equity grew to ₹7,510.20 Mn, aided by IPO proceeds, while current borrowings were substantially reduced to ₹547.81 Mn from ₹3,362.84 Mn. Net cash inflow from operating activities for FY26 stood at ₹1,419.88 Mn, compared to an outflow of ₹212.84 Mn in the previous year.

Balance Sheet Metric: FY26 FY25 FY24 Total Assets (₹ Mn): 10,415 6,967 4,928 Total Equity (₹ Mn): 7,510 2,358 1,421 Current Borrowings (₹ Mn): 548 3,363 2,062 Trade Receivables (₹ Mn): 4,100 3,270 3,204 Cash and Cash Equivalents (₹ Mn): 1,014 3 6 Net Debt/Equity (x): (0.09) 1.25 2.09

Corporate Developments and Growth Strategy

During the year, the company completed its IPO, issuing 2,25,04,324 equity shares at ₹222 per share, aggregating to gross proceeds of ₹4,995.96 Mn. The proceeds were utilised for repayment of borrowings (₹2,031.85 Mn) and funding working capital requirements (₹1,769.71 Mn). Additionally, the Board approved a scheme of amalgamation with Arisunitem Re Solutions Private Limited, appointed as April 1, 2026, subject to regulatory approvals. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) under Section 133 of the Companies Act, 2013, and the company operates in a single segment engaged in trading, procuring, supplying, and distributing raw materials for infrastructure, buildings, and construction.

The company's stated growth strategies include deepening category expansion in high-margin segments such as RMC, aggregates, and asphalt; entering new categories including tiles, CP fittings, sanitaryware, electricals, and plumbing; geographic scale-up across high-growth infrastructure corridors and Tier 1/Tier 2 real estate markets; scaling Contract Manufacturing through additional third-party plant tie-ups; and growing the DaaS vertical for recurring, high-margin revenue streams.

Management Commentary

Mr. Ronak K. Morbia, Chairman and Managing Director, said:

"FY26 marks a defining year for ARIS. We completed our IPO, repaid substantial debt, deepened our Contract Manufacturing footprint, and significantly scaled our Developer-as-a-Service vertical — all while delivering a structural improvement in working capital efficiency. These results validate our asset-light, network-led model."

Source: None/Company/INE0H9P01028/28bc4701-4dcc-4fce-b3d0-56d2af3fe2f3.pdf

ArisInfra Solutions Limited has submitted its Monitoring Agency Report for the quarter ended March 31, 2026, to BSE Limited and the National Stock Exchange of India Ltd, in compliance with Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by ICRA Limited, the appointed Monitoring Agency, and filed on May 08, 2026. The report confirms that the utilisation of issue proceeds is in line with the objects of the issue, with no material deviation observed.

Issue and Proceeds Overview

The company's Initial Public Offer had an opening date of June 18, 2025, and a closing date of June 20, 2025. ICRA monitored a total proceeds amount of INR 579.60 crore during Q4 FY2026, comprising Pre-IPO proceeds of INR 80.004 crore and IPO proceeds of INR 499.596 crore. The net proceeds as per the prospectus stood at INR 461.442 crore (excluding issue-related expenses), while the actual net proceeds were INR 476.115 crore. The revision in net proceeds is on account of actual offer-related expenditure being lower than estimated by INR 14.672 crore.

Parameter: Details Issue Opening Date: June 18, 2025 Issue Closing Date: June 20, 2025 Type of Issue: Initial Public Offer IPO Issue Size: Rs. 499.596 Crore Pre-IPO Issue Size: Rs. 80.004 Crore Total Monitored Proceeds: INR 579.60 Crore Net Proceeds as per Prospectus: INR 461.442 Crore Actual Net Proceeds: INR 476.115 Crore Difference (Lower Actual Expenses): INR 14.672 Crore

Utilisation of IPO Proceeds — Object-wise Progress

The following table details the object-wise utilisation of IPO proceeds as at the end of Q4 FY2026 (March 31, 2026):

Object: Proposed Amount [Rs. Crore] Utilised at Beginning of Quarter [Rs. Crore] Utilised During Quarter [Rs. Crore] Utilised at End of Quarter [Rs. Crore] Unutilised [Rs. Crore] Issue Related Expenses: 23.482 20.465 1.250 21.715 1.767 Repayment/Prepayment of Borrowings: 204.600 203.185 - 203.185 1.415 Funding Working Capital (Company): 177.000 176.971 - 176.971 0.029 Investment in Subsidiary (Buildmex-Infra): 48.000 47.871 0.128 47.999 0.001 General Corporate Purposes & Inorganic Acquisitions: 46.514 39.271 7.243 46.514 Nil Total: 499.596 487.763 8.621 496.384 3.212

The General Corporate Purpose (GCP) allocation was revised upward from INR 31.842 crore (as per the prospectus) to INR 46.514 crore, reflecting the reduction in offer-related expenses. ICRA noted that the revision of 46% in the GCP amount is on account of actual offer-related expenditure being lower than estimated by INR 14.672 crore, and the revised amount remains within the limit of 25% of Gross Proceeds.

Utilisation of Pre-IPO Proceeds

For the Pre-IPO placement of INR 80.004 crore, the entire amount was designated for general corporate purposes. As at the end of Q4 FY2026, INR 78.107 crore had been utilised cumulatively, with INR 15.685 crore deployed during the quarter, leaving an unutilised balance of INR 1.897 crore.

Parameter: Amount [Rs. Crore] Proposed Amount: 80.004 Utilised at Beginning of Quarter: 62.422 Utilised During Quarter: 15.685 Utilised at End of Quarter: 78.107 Unutilised Balance: 1.897

During Q4 FY2026, utilisation under Pre-IPO proceeds included management development deposits to Natureresidences Real Estate Development Private Limited of INR 3.00 crore and Natureresidences Realtors Private Limited of INR 10.00 crore, both refundable in nature, along with salary expenses of INR 0.621 crore, tax payment of INR 1.564 crore, and vendor payment of INR 0.500 crore.

GCP Utilisation Breakdown

The following tables provide a detailed breakdown of cumulative General Corporate Purpose utilisation under both Pre-IPO and IPO proceeds as reported by ICRA.

Pre-IPO Proceeds — GCP Utilisation

Item Head: Amount [Rs. Crore] Administrative expenses (Q4 FY2025): 35.045 Administrative expenses (Q1 FY2026): 14.469 Administrative expenses (Q2 FY2026): 6.632 Administrative expenses (Q3 FY2026): 6.276 Management deposits to Natureresidences Real Estate Development Pvt. Ltd. (Q4 FY2026): 3.000 Management deposits to Natureresidences Realtors Pvt. Ltd. (Q4 FY2026): 10.000 Salary expenses (Q4 FY2026): 0.621 Tax Payment (Q4 FY2026): 1.564 Vendor Payment (Q4 FY2026): 0.500 Total: 78.107

IPO Proceeds — GCP Utilisation

Item Head: Amount [Rs. Crore] Payment of salary (Q2 FY2026): 6.218 Payment of statutory dues and administrative expenses (Q2 FY2026): 2.924 Management deposit to AVS Housing & Construction LLP, refundable (Q2 FY2026): 17.849 Payment of salary (Q3 FY2026): 5.863 Payment of administrative expenses (Q3 FY2026): 4.266 Payment of salary (Q4 FY2026): 3.857 Payment of rent and other administrative expenses (Q4 FY2026): 0.968 Management deposits to Natureresidences Real Estate Development Pvt. Ltd. (Q4 FY2026): 2.000 Vendor Payment (Q4 FY2026): 2.492 Vendor Payment (Q4 FY2026): 2.360 Tax Payment (Q4 FY2026): 0.077 Total: 46.514

During Q4 FY2026, the company received a refund of INR 2.151 crore from an initial deposit of INR 20.00 crore placed with AVS Housing & Construction LLP in Q2 FY2025-26, and the same amount was utilised in Q4 FY2026 for payment towards management deposits to Natureresidences Real Estate Development Private Limited (INR 2.000 crore), rent and admin expenses (INR 0.019 crore), and vendor payment (INR 0.132 crore).

Deployment of Unutilised Proceeds

Unutilised Pre-IPO proceeds were deployed primarily in term deposits with IDBI Bank, with a balance also maintained in the Pre-IPO account. The total amount invested stood at INR 1.908 crore, generating earnings of INR 0.004 crore, with a market value of INR 1.912 crore as at March 31, 2026.

Instrument: Amount Invested [Rs. Crore] Maturity Date Earnings [Rs. Crore] ROI (%) Market Value [Rs. Crore] Term Deposit – IDBI Bank: 0.500 11-May-26 0.001 4.35% 0.501 Term Deposit – IDBI Bank: 0.500 11-May-26 0.001 4.35% 0.501 Term Deposit – IDBI Bank: 0.500 11-May-26 0.001 4.35% 0.501 Term Deposit – IDBI Bank: 0.350 27-April-26 0.001 4.35% 0.351 Balance in Pre-IPO Account: 0.058 - - - 0.058 Total: 1.908 0.004 1.912

Unutilised IPO proceeds were deployed in a term deposit with Axis Bank and balances maintained across the GCP account, monitoring account, and Axis sub-account. The total amount invested was INR 3.223 crore, generating earnings of INR 0.026 crore, with a market value of INR 3.249 crore as at March 31, 2026.

Instrument: Amount Invested [Rs. Crore] Maturity Date Earnings [Rs. Crore] ROI (%) Market Value [Rs. Crore] Term Deposit – Axis Bank: 3.000 20-April-26 0.026 4.50% 3.026 Balance in GCP Account: 0.107 - - - 0.107 Balance in Monitoring Account: 0.046 - - - 0.046 Balance in Axis Sub Account: 0.070 - - - 0.070 Total: 3.223 0.026 3.249

Implementation Schedule and Compliance

All objects under both Pre-IPO and IPO proceeds are reported as on schedule as of March 31, 2026, with no delays recorded. Key compliance observations from the monitoring report include:

No material deviation from the objects of the issue was identified.

All utilisation is confirmed to be as per the disclosures in the offer document.

Shareholder approval for material deviations is not applicable, as no material deviation was observed.

The means of finance for disclosed objects has not changed.

No major deviation was observed over earlier monitoring agency reports.

All government and statutory approvals related to the objects have been obtained.

No favorable or unfavorable events materially affecting the viability of the objects were reported.

The report was signed by Parul Goyal Narang, Vice President & Head – Process Excellence at ICRA Limited, and submitted to the stock exchanges by Bhavik Jayesh Khara, Whole-time Director and CFO of ArisInfra Solutions Limited.

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