1. FY27 revenue guidance of ₹700 cr - Management reiterated the ₹700 cr FY27 revenue target, stating “this we will definitely achieve”, with ₹70-80 cr of unbilled FY26 work already executed and an unexecuted order book of \~₹500 cr as of May 2026. At the guided 20%+ EBITDA margin, ₹700 cr in revenue would generate over ₹140 cr in EBITDA - roughly 1.6x the ₹85.76 cr trailing figure.
2. Order book skewed to concrete work - Only 10-20% of the current \~₹500 cr unexecuted order book involves bitumen; \~₹300-350 cr is concrete-based work. This insulates the bulk of near-term execution from the bitumen price spikes that caused FY26 billing delays, making the ₹700 cr revenue target more dependable.
3. Promoter warrant infusion of ₹22.5 cr - Promoter Prasanna D. has already paid ₹7.5 cr toward a ₹30 cr warrant subscription, with the balance ₹22.5 cr to be infused in H1 FY27. The infusion directly reduces debt and improves the debt-to-equity ratio, which management targets below 1.5x against a current 1.23x.
4. Solar EPC orders of ₹91.58 cr secured - AVP Renewable Energies bagged two solar EPC orders worth a combined ₹91.58 cr in February 2026, with execution slated for FY27. These orders alone cover more than half of the earlier FY27 solar target of ₹150-200 cr and add a new earnings stream outside the core highway EPC business.
5. New order inflow target of ₹500-1,000 cr in FY27 - Management expects ₹500 cr to ₹1,000 cr of fresh orders during FY27, on top of the existing \~₹500 cr order book, and has recruited a dedicated team to bid on 100 tenders instead of the earlier 10. Winning even the lower end of that range would more than double the current unexecuted backlog and extend revenue visibility well into FY28.
6. JV structure that captures full execution value - A ₹106.2 cr NHAI order won in a JV where AVP holds 74% will see AVP execute 100% of the work, paying only a 2% royalty to the partner for its 26% share. This structure effectively adds the full order value to AVP’s execution pipeline at a marginal cost, lifting revenue without a proportional increase in overheads.
7. Backward integration via RMC plants and blue metal crusher - Three ready-mix concrete plants are operational and a blue metal crusher unit has been commissioned to secure raw material supply. Controlling concrete inputs in-house reduces third-party dependency and supports the 20%+ EBITDA margin target as the concrete-heavy order book grows.
8. Main board migration by March 2027 - The company’s three-year NSE SME listing completes by March 2027, at which point it will migrate to the main board. Main board status typically broadens the institutional investor base and can improve trading liquidity and valuation multiples.