SPML Infra shares jump 2% after net profit rises 87%

Shares of SPML Infra rose over 2% on Friday to Rs 191 after the company reported strong June quarter results. Net profit jumped 87% year-on-year to Rs 22.7 crore, while revenue grew 74% to Rs 286 crore. EBITDA rose 81% to Rs 28.3 crore and the EBITDA margin improved to 9.9%.

The company's total order book stands at about Rs 5,094 crore. Arihant Capital Markets has initiated coverage with a Buy rating and target price of Rs 366, citing a turnaround opportunity. The brokerage expects revenue to more than double by FY28, supported by the order book and improved financial position. SPML is also expanding into battery energy storage systems with a Rs 1,128-crore NTPC order.

Investor Vijay Kedia, through his brokerage firm Kedia Securities, held a 1.77% stake at end of June quarter. His wife Manju Kedia also subscribed to 13.45 lakh warrants in the company's Rs 190-crore fundraising in July 2026. Upon conversion of all warrants, their combined stake could rise to nearly 3%.