Annu Projects Ltd
Established in 2003, we are engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical, gas pipeline vertical and railway signalling vertical. We are one of the diversified companies in the EPC sector, involved in fields ranging from fiber optics to sewerage projects and also undertakes gas pipeline projects (Source: CARE Report). Over the years we have gained expertise in laying the overhead and underground utilities infrastructure, and have laid (i) more than 26,200 kms of optical fibre cable(s) ("OFC(s)") network and maintenance of more than 62,800 km of OFC networks in telecom infrastructure; (ii) more than 298 kms of sewerage pipes, construction and maintenance of sewerage treatment plant, construction of pumping stations, laying of house service connections in the sewerage infrastructure vertical; and (iii) more than 537 kms of MDPE laying of 20 mm to 125 mm diameter, 38,300 number of Galvanized Iron Pipes ("GI") for domestic gas connections in the gas pipeline vertical across 4 (four) states in India, namely; Bihar, Uttar Pradesh, Odisha, and Jharkhand. Further, except for gas pipeline vertical, we also undertake the operations and maintenance of the projects developed by us or others for a specific contractual period.
Timeline
Subscription
Reports
Offer Details
Terms
Application Sizes
Managers & Registrar
Ownership & Proceeds
Shareholding
Objects of the Issue
- Funding capital expenditure requirements of the Company for purchase of machinery or equipment
- Funding working capital requirements of the Company
- General corporate purposes
Anchor Book
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 110 | 129 | 154 | 180 | 241 |
| Operating ProfitCr | 10 | 15 | 29 | 32 | 50 |
| OPM% | 9.4 | 11.6 | 18.7 | 17.9 | 20.8 |
| PBTCr | 6 | 10 | 25 | 28 | 46 |
| PATCr | 4 | 7 | 18 | 21 | 33 |
| EPS | 16 | 27 | 4 | 5 | 7 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 3 | 3 | 3 | 48 | 48 |
| ReservesCr | 43 | 49 | 67 | 74 | 107 |
| BorrowingsCr | 10 | 16 | 16 | 24 | 53 |
| Total AssetsCr | 134 | 139 | 158 | 232 | 342 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -9 | 3 | 7 | -35 | 0 |
| Investing Cash FlowCr | 1 | -2 | -4 | -1 | -23 |
| Financing Cash FlowCr | 0 | 1 | -3 | 34 | 26 |
| Net Cash FlowCr | -8 | 2 | 0 | -2 | 2 |
Strengths & Risks
- Established expertise in engineering, procurement and commissioning projects with special focus on underground and overhead utilities infrastructure.
- Project management with integrated execution capabilities.
- Strong Order Book.
- Strong and consistent financial performance.
- Experienced leadership and strong management team.
- Strengthening our presence and expand into new geographies across India.
- Leveraging core competencies in project execution and expand into other verticals within the infrastructure development spaces
- Continue to focus on efficient cost management in relation to project execution.
- Build a highly skilled and motivated workforce by enhancing our base of mechanised equipment
- The company derived more than 90.00% of its revenue from operations from the company's telecom infrastructure and sewerage infrastructure verticals during Fiscals 2026, 2025 and 2024, respectively. Any slowdown in telecom sector, sewerage sector or decrease in demand of any services provided by it could materially and adversely impact the company's business.
- The company is dependent on and derived 57.09%, 64.99% and 60.88% of its revenue from operations, during Fiscals 2026, 2025 and 2024, respectively, from government sector entities based on competitive bidding that exposes it to risks inherent in doing business with them, which may adversely affect its business, results of operations and financial condition. Also, the company's business depends on number of projects awarded to it. In case, the company fails to secure awards of new projects, it will impact its business, results of operations and financials.
- The company is dependent on its top ten customers in respect of the company's business. Its top 10 customers contributed to 97.96%, 98.25% and 95.90% of the company's revenue from operations during Fiscals 2026, 2025 and 2024, respectively. Any loss of any major customer may adversely impact revenue of its business. Any decrease in demand from such customers, the loss of such customers or the company's inability to diversify its customer base could have an adverse effect on the company's business, results of operations, financial condition and cash flows.
- The company's current Order Book may not necessarily translate into or indicate the company's future revenue in its entirety. The company has an Order Book of Rs. 9,386.53 million, Rs. 4,796.73 million and Rs. 7,077.65 million for Fiscals 2026, 2025 and 2024 respectively. Further, some of its current orders may be modified, cancelled, delayed, put on hold or not fully paid for by the company's customers, which could adversely affect its business, financial condition, results of operations and future prospects.
- The company's business is relatively concentrated in the States of Bihar, Jharkhand, Goa, West Bengal and Madhya Pradesh which contributed more than 70.00% of its revenue from operations for the Fiscals 2026, 2025 and 2024. Any adverse development in such parts of India may adversely affect its business, results of operations and financial condition.
- The company could incur losses under its project contracts and services contracts with the company's customers or be subjected to disputes or contractual penalties, liquidated damages as a result of delays or failures to meet contract specifications or delivery schedules. The company may be unable to obtain approvals for extension in meeting delivery schedules. Its paid an amount of Rs. 0.90 million, Rs. 8.52 million and Rs. 42.07 million towards liquidated damages during Fiscals 2026, 2025 and 2024. Imposition of such penalties or liquidated damages may have a material adverse effect on its business, results of operations and financial condition.