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Desco Infratech Ltd (544387)

📊 BSE: 544387 🏢 Civil Construction 📢 Latest filing: 01 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (H2 FY26)

In its latest reported quarter, H2 FY26, Desco Infratech's revenue was ₹77.0 Cr (+108.1% year on year, +83.3% on the previous half-year), and net profit ₹10.0 Cr (+66.7% year on year); the operating margin was 19.5%.

H2 FY26 (₹ Cr)	Value	YoY vs H2 FY25	vs prev. half
Revenue	₹77.0	+108.1%	+83.3%
Operating profit	₹15.0	+87.5%	+66.7%
Net profit	₹10.0	+66.7%	+66.7%
EPS (₹)	13.30	+75.7%	+65.4%
Operating margin	19.5%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Desco Infratech Adjourns 15th AGM to October 7, 2026 Due to Lack of Quorum

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 12:04 PM

Desco Infratech Limited announced that its 15th Annual General Meeting (AGM) scheduled for September 30, 2026, was adjourned due to a lack of required quorum under Section 103 of the Companies Act, 2013. The adjourned AGM is now rescheduled for October 7, 2026, at 02:00 PM IST via Video Conferencing. A fresh remote e-voting window will open from October 4, 2026 (9:00 AM IST) to October 6, 2026 (5:00 PM IST). Additionally, the register of members and share transfer books will remain closed through October 7, 2026.

Original 15th AGM convened on 30th September, 2026 adjourned due to lack of requisite quorum within 30 minutes
Adjourned AGM rescheduled for Wednesday, 7th October, 2026 at 02:00 PM IST via VC/OAVM
Fresh remote e-voting facility opens at 9:00 AM on 4th October, 2026 and ends at 5:00 PM on 6th October, 2026
Book closure extended from 23rd September, 2026 to 7th October, 2026 (both days inclusive)

💡 Shareholders should monitor the conduct of the adjourned meeting on October 7, 2026, and note the revised remote e-voting window closing on October 6, 2026.

Desco Infratech Wins ₹2.34 Cr Pipeline Laying Order from Adani Total Gas

🟢 POSITIVE ⭐ 4/10

OTHER 📅 23 Sep 2026, 11:49 AM

Desco Infratech Limited has secured a domestic purchase order valued at ₹23.40 million (₹2.34 crore, inclusive of GST) from Adani Total Gas Limited. The project involves MDPE pipeline laying and last-mile connectivity (LMC) activities at Navsari. Relative to the company's Mar 2026 quarterly revenue of ₹77 crore, this is a relatively small order (~3.0% of quarterly sales). The contract execution timeline has not been disclosed, designated as 'as per contract'.

Received Purchase Order of ₹23,397,835.32 (inclusive of GST) from Adani Total Gas Limited
Scope covers MDPE pipeline laying and LMC activities at Navsari
Execution period is defined 'As per the Contract' (not disclosed in detail)
Transaction is domestic and does not fall under related party transactions

💡 Track execution updates and gross margin contributions in upcoming quarterly results, along with total order book inflows from city gas distribution clients.

Desco Infratech Empaneled by NREDCAP for 1 KWp to 500 KWp Solar Rooftop Projects in AP

🟡 NEUTRAL ⭐ 4/10

EXPANSION 📅 21 Sep 2026, 12:05 PM

Desco Infratech Limited has been empaneled by the New & Renewable Energy Development Corporation of Andhra Pradesh Limited (NREDCAP) as an approved supplier. The empanelment covers the supply, installation, and commissioning of grid-connected solar rooftop PV power plants ranging from 1 KWp to 500 KWp across Andhra Pradesh. However, the company noted that this empanelment does not constitute a direct contract or order award, and financial value will depend on subsequent work orders.

Empaneled by NREDCAP, an Andhra Pradesh State Government company
Scope covers Grid Connected Solar Rooftop PV Power Plants from 1 KWp to 500 KWp
Covers multiple locations across Andhra Pradesh under Solar Rooftop Net Metering Policy
Filing clarifies no specific order or contract value has been awarded yet

💡 Track future announcements for actual work order awards and contract values resulting from this empanelment.

Rs 2.14 Cr Order Win from KP Energy, Adani Total Gas, and MNGL

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 14 Aug 2026, 02:31 PM

Desco Infratech has secured three domestic orders totaling Rs 2.14 crore from KP Energy, Adani Total Gas, and Maharashtra Natural Gas. The projects involve solar installation works and gas pipeline infrastructure across Haryana and Nizamabad. While the order value is small at approximately 1.2% of TTM revenue (Rs 179 Cr), it demonstrates client diversification with major energy players. Execution timelines are governed by individual contracts.

Total order value of Rs 21,424,092 inclusive of GST
Secured contracts from three major clients: KP Energy Ltd, Adani Total Gas Ltd, and Maharashtra Natural Gas Ltd
Scope includes solar project installation and MDPE/PE pipeline works for City Gas Distribution (CGD)
Order value represents approximately 1.2% of the company's TTM revenue of Rs 179 Cr

💡 Monitor the execution timeline and the company's ability to scale these relationships into larger contracts, as current order sizes are small relative to total revenue.

Desco Infratech Emerges as L1 Bidder for IOCL's Vizag City Gas Distribution Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 13 Aug 2026, 02:30 PM

Desco Infratech has been declared the lowest bidder (L1) for a Zonal Rate Contract by Indian Oil Corporation Limited (IOCL) for works in Vizag, Andhra Pradesh. The project involves Last Mile Connectivity (LMC) and Direct Marketing Agency (DMA) services, including laying PE pipelines (20mm-180mm) and installing PNG connections for domestic and industrial users. This win follows a period of rapid growth, with TTM revenue reaching ₹179 Cr compared to ₹59 Cr in FY25. A formal disclosure of the contract value is expected upon receipt of the Letter of Award (LOA).

Emergence as L1 bidder for IOCL's City Gas Distribution project in Vizag GA, Andhra Pradesh.
Scope includes laying underground PE pipelines ranging from 20mm to 180mm Dia.
Project covers PNG connections for Domestic, Industrial, and Commercial consumers.
Company reported TTM revenue of ₹179 Cr with a healthy ROCE of 30.0%.

💡 Watch for the formal Letter of Award (LOA) or Purchase Order to confirm the contract value and assess its materiality relative to the ₹179 Cr TTM revenue.

Desco Infratech Appoints CS Tripti Gaggar as Compliance Officer Following Resignation

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 07 Aug 2026, 05:55 PM

Desco Infratech Ltd has announced a change in its Key Managerial Personnel (KMP) effective August 7, 2026. Ms. Muskan Khandal has resigned from the position of Company Secretary and Compliance Officer to pursue external opportunities. The Board has appointed CS Tripti Gaggar, a Law Graduate and ICSI member (M No. 79044), as the new Company Secretary and Compliance Officer. This transition occurs as the company maintains a TTM revenue of ‹179 Cr and a PAT of ‹25 Cr.

Resignation of Ms. Muskan Khandal as Company Secretary and Compliance Officer effective August 7, 2026.
Appointment of CS Tripti Gaggar to the same role effective August 7, 2026.
The Board meeting for these changes concluded within 32 minutes (5:03 PM to 5:35 PM).
The company reported a strong TTM OPM of 20.7% and ROCE of 30.0% as per latest financial context.

💡 Investors should monitor the consistency of regulatory filings under the new Compliance Officer to ensure governance standards are maintained.

Desco Infratech Appoints CS Tripti Gaggar Following Resignation of Muskan Khandal

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Aug 2026, 05:49 PM

Desco Infratech Ltd announced a change in its Key Managerial Personnel (KMP) on August 7, 2026. Ms. Muskan Khandal resigned from the position of Company Secretary and Compliance Officer to pursue other opportunities. The Board has concurrently appointed CS Tripti Gaggar, an Associate member of the ICSI (M No. 79044), to the role effective immediately. This administrative transition occurs as the company maintains a strong financial profile with TTM revenue of ₹179 Cr and a PAT of ₹25 Cr.

Resignation of Ms. Muskan Khandal as Company Secretary effective August 7, 2026
Appointment of CS Tripti Gaggar (ICSI M No. 79044) as the new Compliance Officer
Board meeting for the transition concluded in 32 minutes (5:03 PM to 5:35 PM)
Company reported a high ROCE of 30.0% and TTM EPS of ₹34.69

💡 This is a routine administrative change; investors should monitor for continued timely regulatory filings and compliance under the new officer.

100+ km MDPE Network and 6,500+ PNG Connections Commissioned for Adani Total Gas

🟢 POSITIVE ⭐ 6/10

OTHER 📅 29 Jul 2026, 02:29 PM

Desco Infratech Limited has successfully completed and commissioned a City Gas Distribution (CGD) project in Faridabad for Adani Total Gas Limited (ATGL). The project involved laying over 100 km of MDPE pipeline and installing more than 6,500 domestic PNG connections. For a company with a TTM revenue of Rs 179 Cr, successfully delivering for a marquee client like ATGL is a significant operational milestone. This completion validates the company's execution capabilities and technical competence in the specialized CGD infrastructure sector.

Successfully commissioned 100+ km of MDPE pipeline network in Faridabad
Completed installation of 6,500+ Domestic PNG connections for Adani Total Gas Limited
Company maintains a healthy Operating Profit Margin of 20.7% as per TTM data
Project completion strengthens credentials for future high-value CGD infrastructure tenders

💡 Monitor the company's upcoming quarterly results for revenue recognition from this project and watch for new order wins from major CGD players to assess order book sustainability.

Desco Infratech Receives 5-Year Electrical Contractor's Licence in Gujarat

🟢 POSITIVE ⭐ 5/10

REGULATORY 📅 16 Jul 2026, 10:52 AM

Desco Infratech has been granted an Electrical Contractor's Licence by the Government of Gujarat, Energy & Petrochemicals Department. The licence is valid for a period of 5 years and authorizes the company to undertake electrical installation works within the state. While the company has stated that the monetary impact is not yet quantifiable, this regulatory approval is a prerequisite for bidding on and executing power infrastructure projects in Gujarat. This move is expected to expand the company's addressable market in the electrical contracting sector.

Licence is valid for a fixed period of 5 years from the date of issuance.
Granted by the Government of Gujarat, Energy & Petrochemicals Department.
Authorizes the company to execute electrical installation works across the entire State of Gujarat.
Enables the company to participate in and execute electrical infrastructure projects.

💡 Investors should monitor the company's order book for new contract wins in the Gujarat electrical infrastructure segment to assess the actual revenue contribution of this license.

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