Active Infrastructures Limited (AIL) is a Nagpur-based **Engineering, Procurement, and Construction (EPC)** firm that has recently transitioned from a private entity to a publicly listed company on the **NSE Emerge (SME)** platform. The company provides end-to-end infrastructure solutions, ranging from initial project planning and procurement to execution, commissioning, and long-term maintenance. --- ### **Core Infrastructure Verticals & Service Portfolio** AIL operates a diversified business model across four primary segments of the Indian infrastructure landscape: * **Water Infrastructure:** The company’s current primary focus, involving the construction of pipelines, sewerage systems, **Sewage Treatment Plants (STPs)**, and **Water Treatment Plants (WTPs)**. * **Roads and Highways:** Execution of transport projects via **Build-Operate-Transfer (BOT)**, **Hybrid Annuity Model (HAM)**, and traditional **EPC** modes. * **Urban Infrastructure:** Development of integrated townships, commercial complexes, and urban road networks. * **Industrial Infrastructure:** Construction of specialized facilities including factories, logistics parks, and power plants. --- ### **Project Portfolio and Order Book Visibility** As of **March 31, 2025**, the company maintains a concentrated but high-value project portfolio, with a strategic emphasis on water utilities and consultancy. **Current Order Book Status:** | Metric | Details (as of March 31, 2025) | | :--- | :--- | | **Unexecuted Order Book** | **₹108.26 Crores** | | **Active Projects** | **4** | | **Water Infrastructure Share** | **100%** | | **Geographic Footprint** | Maharashtra, Madhya Pradesh, Uttar Pradesh, and Tripura | **Significant Recent Contract Wins (2025):** * **Wainganga-Nalganga River Link Project:** A sub-consultancy agreement with **Nippon Koei India** for the Vidarbha Irrigation Development Corporation (**VIDC**), valued at **₹37.13 Crores**. * **Innovinc Management Services:** A sub-consultancy work order valued at **₹10.00 Crore** (June 2025). * **Mecgale Pneumatics:** A contract for temple facility up-gradation and Yatri Niwas reconstruction valued at **₹5.30 Crore** (August 2025). * **Ceinsys Tech Ltd:** Technical services for water intake testing and core box provision in the Vidarbha region valued at **₹4.65 Crores**. --- ### **Financial Performance Analysis** AIL demonstrated strong bottom-line growth in FY 2024-25 on a consolidated basis, despite a slight contraction in standalone revenue. **Consolidated Financial Highlights:** | Metric | FY 2024-25 | FY 2023-24 | Growth/Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **₹90.50 Crore** | **₹97.43 Crore** | **(7.11%)** | | **Profit Before Tax (PBT)** | **₹17.44 Crore** | **₹12.43 Crore** | **+40.31%** | | **Net Profit (PAT)** | **₹13.09 Crore** | **₹8.81 Crore** | **+48.58%** | | **Earnings Per Share (EPS)** | **₹8.79** | **₹8.48** | **+3.66%** | | **Return on Equity (RoE)** | **36.22%** | - | - | **Standalone Performance Comparison:** | Parameter | FY 2024-25 | FY 2023-24 | | :--- | :--- | :--- | | **Total Revenue** | **₹36.63 Crore** | **₹59.01 Crore** | | **Net Profit (PAT)** | **₹5.69 Crore** | **₹7.62 Crore** | | **EPS (Standalone)** | **₹5.27** | **₹7.11** | --- ### **Capital Structure and NSE Listing** The company successfully completed its **SME IPO** in **March 2025**, marking a significant milestone in its corporate evolution. * **Listing Date:** **March 28, 2025** (NSE Emerge). * **Issue Size:** **₹77.83 Crore** (43,00,200 Equity Shares). * **Issue Price:** **₹181 per share** (Face Value: **₹5**; Premium: **₹176**). * **Post-IPO Paid-up Capital:** **₹7.51 Crore** (**1,50,15,016 shares**). * **Utilization of Proceeds:** Funds are earmarked for working capital requirements, the purchase of advanced construction equipment, and debt repayment. --- ### **Subsidiary Ecosystem and Strategic Partnerships** AIL utilizes a network of subsidiaries and Special Purpose Vehicles (SPVs) to execute regional projects and manage niche assets. | Entity | Ownership | Role / Recent Activity | | :--- | :--- | :--- | | **Digvijay Shradha Infra Pvt Ltd** | **50.5%** | Executing a highway project valued at **~₹70 Crore**. | | **Achievers Ventures Pvt Ltd** | **100%** | Strategic arm; reported **₹4.48 Cr** revenue and **₹0.073 Cr** PAT in FY25. | | **Solus Ventures LLP** | Subsidiary | Secured **₹26 Crore** credit facility from **ICICI Bank** (Dec 2025). | | **Asset Acquisition** | - | Purchased land and RCC structure in **Yerwada, Pune** for **₹37.18 Crore** (Dec 2025). | **Synergistic Related Party Agreements:** * **Jain Engineering Works:** A **₹142.35 Crore** arrangement for water projects in Madhya Pradesh. * **Shradha Infraprojects:** A **₹25 Crore** agreement for the supply of Ready-Mix Concrete (RMC). --- ### **Future Growth Strategy and Operational Excellence** The company is transitioning into a high-growth phase with a focus on technological integration and market expansion. * **Sector Expansion:** Actively bidding for projects in **Logistics Infrastructure**, **Tunneling**, **Metro Rail**, and **PPP/HAM** models to ensure long-term revenue visibility. * **Digital Transformation:** Implementing **AI**, **Data Analytics**, and **Drone Technology** for real-time project monitoring. The FY 2025-26 roadmap includes full digitalization of cash flow controls. * **Portfolio Rationalization:** Divested non-core interests in **Devansh Dealtrade LLP** and **Godhuli Vintrade LLP** (**49.99%** stakes) in October 2025 to sharpen focus on core EPC activities. * **Leadership:** Managed by **Mr. Nitesh Sanklecha** (MD), a Chartered Accountant with **17+ years** of industry experience. --- ### **Risk Management Framework** AIL operates under a formal **Risk Management Plan** to mitigate threats inherent to the EPC sector. | Risk Category | Mitigation Strategy / Impact Factors | | :--- | :--- | | **Operational** | Focus on talent retention and upgrading machinery to prevent technology obsolescence. | | **Financial & Market** | Proactive monitoring of interest rates and intense competition; maintaining flexibility in the deployment of IPO proceeds. | | **Execution** | Addressing potential delays in capital utilization caused by market volatility or regulatory shifts. | | **Governance** | Re-appointment of **Ms. Asha Sampath** as Independent Director through **2030** to ensure compliance and board-level oversight. |