Effwa Infra & Research Ltd. · NSE:EFFWA
Effwa Infra & Research — H1 FY27 Earnings Presentation
48 slides from Effwa Infra & Research's earnings presentation, Nov 2, 2026
Slide 1: Investor Presentation H1FY27 covering letter to NSE
™ Effwa Infra & Research Ltd. (Formerly Known as Effwa Infra & Research Pvt. Ltd.) We Engineer Environmental Science 02nd November 2026 To, Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai– 400051 Scrip Code: EFFWA Subject: INVES
Slide 2: Effwa Infra & Research Limited Investor Presentation
We Engineer Environmental Science Effwa Infra & Research Limited Investor Presentation – November 2026
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation and the accompanying slides have been prepared by EFFWA Infra & Research Ltd. (EFFWA the “Company”), and have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securiti
Slide 4: Company Overview
Company Overview Investor Presentation – H1 FY27 3
Slide 5: About Us
About Us Effwa synonym to an engineering powerhouse that offers cutting edge environmental solutions to various Industries across the Globe was established by Dr. Varsha Kamal and Mr. Subhash Kamal (Ex. IITians) in 2011. Effwa Infra & Research Limited is expanding fast in its business of engineering
Slide 6: Our Services
Our Services 01 02 03 Effluent Treatment & Recycling Zero Liquid Discharge Plant Desalination Plant 04 05 06 Water Treatment & Distribution Compressed Biogas Plant Operation & Maintenance Investor Presentation – H1 FY27 5
Slide 7: Solutions and Applications Across Sectors
Solutions and Applications Across Sectors • Textile • Tanneries • Pulp and Paper • Sugar & Distilleries • Power, Steel and Mining • Petrochemicals, oil & Gas • Dairy and Food Processing • Bulk drugs & Pharmaceuticals • Pesticides, Chemicals and fertilizers • Desalination (Large Industry / Municipal)
Slide 8: Major Clientele
Major Clientele Banglade sh Nigeria Investor Presentation – H1 FY27 7
Slide 9: Recognition with Leading Consultants
Recognition with Leading Consultants Investor Presentation – H1 FY27 8
Slide 10: The Founders and Directors
The Founders and Directors Dr. Varsha Kamal Mr. Subhash Kamal (Promoter, Chairperson & Managing Director) (Promoter, Whole Time Director) ▪ Dr. Varsha Kamal is the Promoter, Chairperson and Managing ▪ Mr. Subhash Kamal is the Promoter, Whole Time Director Director ▪ He is a Civil Engineer and holds
Slide 11: Organisational Structure
Organisational Structure Organizational Structure Whole Time Director - KMP Chairman & Managing Director - Non-Executive Independent Non-Executive Non KMP Director Independent Director Senior Managerial Chief Financial Officer - Personnel CS & Compliance Officer - KMP Independent Director Independen
Slide 12: Business Process Flow
Business Process Flow Site Establishment Construction & Erection Joint Progress Review Procurement & Safety & Environment Logistics Training 5 4 6 Process Optimisation Pre-trial Training & 3 7 Commissioning Design & Engineering 2 8 Performance Demonstration Contract Review Handover of Facilities / T
Slide 13: Unique Selling Proposition
Unique Selling Proposition Zero Liquidated Damages Advisory Board “On Time, Every Time” Comprising of Leading Industrialists/ Corporate Members Talents & Track record of completing projects without Administrative Excellence incurring any penalties or delays. Zero threat to Commercial Guarantees Cutt
Slide 14: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Potable Water Treatment Plant - Tanzania Drinking Water Treatment Plant 48 MLD Ultrafiltration Plant 13 Investor Presentation – H1 FY27
Slide 15: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects The Largest Zero Liquid Discharge(ZLD) System for Integrated Steel Plant - India 14 Investor Presentation – H1 FY27
Slide 16: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects 16 MLD Water Treatment Plant – Ivory Coast 15 Investor Presentation – H1 FY27
Slide 17: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Common Effluent Treatment Facility – GIDC -Jhagadia Investor Presentation – H1 FY27 16
Slide 18: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Zero Liquid Discharge (ZLD) for Nonferrous Industry Zero Liquid Discharge (ZLD) Facility for Integrated Steel Plant Investor Presentation – H1 FY27 17
Slide 19: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Common Effluent Treatment / Recycling Facility for Chromite Mining (28 MLD) Investor Presentation – H1 FY27 18
Slide 20: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Potable Water Treatment Plant (22 MLD) at Tanzania Investor Presentation – H1 FY27 19
Slide 21: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Cooling Tower with Water Recirculation Plant, Capacity : 7500 m3 / hr Effluent Recycling Plant Investor Presentation – H1 FY27 20
Slide 22: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Zero Liquid Discharge System, TSL-India Investor Presentation – H1 FY27 21
Slide 23: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Effluent Recycling Plant : Oil & Gas Sector Investor Presentation – H1 FY27 22
Slide 24: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Zero Liquid Discharge System - Oil Sector Investor Presentation – H1 FY27 23
Slide 25: Snapshot of Our Completed Projects
Snapshot of Our Completed Projects Effluent Treatment Plant 20.3 MLD Oil Refinery Sector Investor Presentation – H1 FY27 24
Slide 26: Industry Overview
Industry Overview Seite, cay
Slide 27: Water & Wastewater Treatment Market Landscape
Water & Wastewater Treatment Market Landscape Treat, recover, reuse – the value chain from industrial effluent to zero discharge Recovered water returns to the process GLOBAL WATER & WASTEWATER USD 651.6 Bn by 2034E | from USD 381.8 Bn (2025) | 6.1% CAGR GLOBAL INDUSTRIAL WASTEWATER USD 271.6 Bn by
Slide 28: Global Market Opportunity
Global Market Opportunity clear.png clear.png clear.png clear.png Overview Global India Trends ZLD to ZMD USD Bn 6.1% CAGR 5.8% CAGR 7.1% CAGR 651.6 271.6 13.0 381.8 145.1 6.8 2025 2034E 2025 2036E 2025 2035E Water & Wastewater Industrial Wastewater ZLD Systems Treatment Treatment Source: Meticulous
Slide 29: India – Large, Under-Served Market
India – Large, Under-Served Market clear.png clear.png clear.png clear.png Overview Global India Trends ZLD to ZMD MARKET SIZE (USD Bn) URBAN SEWAGE TREATED EFFWA'S CORE END-MARKETS 6.1% CAGR 9.60 Steel & Mining Power 6.67 Oil, Gas & Refineries Pharma & Bulk Drugs Textiles Sugar & Distilleries ~28%
Slide 30: Emerging Trends – ZLD and Recycling Are the Future
Emerging Trends – ZLD and Recycling Are the Future clear.png clear.png clear.png clear.png Overview Global India Trends ZLD to ZMD INDIA ZLD MARKET (USD Bn) WHAT IS DRIVING ADOPTION EFFWA'S CREDENTIALS 9.5% CAGR Tighter enforcement CPCB SOPs (Jul 2024) for verifying ZLD compliance in Largest capacit
Slide 31: From ZLD to ZMD – Effwa's Technology Ladder
From ZLD to ZMD – Effwa's Technology Ladder clear.png clear.png clear.png clear.png Overview Global India Trends ZLD to ZMD Revenue Mix 1.6% 0.7% Each step recovers more from the same Effluent Treatment effluent stream Plant with Recycling Recycled water for reuse, then zero liquid discharge, then z
Slide 32: H1 FY27 Operational Highlights
H1 FY27 Operational Highlights
Slide 33: Key Business Highlights for H1 FY27
Key Business Highlights for H1 FY27 Projects Handed Over / Completed in Order Book Advisory Strength H1 FY27 Dr Arun Tripathi ₹675+ Crore ₹2,400+ Crore Rourkela Steel Plant (SAIL) TS-II Former Director General, Solar Corporation of India Present orders in hand Projects under pipeline Contract value
Slide 34: CMD's Commentary – H1 FY27 Performance
CMD's Commentary – H1 FY27 Performance Commenting on the performance, Dr. Varsha Kamal, Promoter, Chairperson & Managing Director, said: “We are pleased to present results for the first half of FY27, demonstrating the resilience of our business model, the strength of our execution capabilities, and
Slide 35: Management Outlook
Management Outlook ▪ The successful completion of the Rourkela Steel Plant (SAIL) TS-II project, the Company's first project with a value exceeding ₹200 crore, represents a significant milestone and capability to execute large-scale, complex assignments within committed timelines. The ongoing execut
Slide 36: H1 FY27 - Financial Highlights
H1 FY27 - Financial Highlights Revenue from Operations EBITDA PAT (Rs. In Lacs) (Rs. In Lacs) (Rs. In Lacs) 44.8% 37.1% 48.8% 13,064.9 1,509.7 2,115.4 EBITDA Margin 16.2% 9,020.9 1,542.5 1,014.4 PAT Margin 11.6% 40 bps H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 35 Investor Presentation – H1 FY27
Slide 37: H1 FY27 - Revenue Bifurcation
H1 FY27 - Revenue Bifurcation Institutions wise Revenue Contribution Domestic v/s Export Mix Service wise Revenue Contribution 0.0% 1.6% 0.7% 0.7% 31.1% 44.0% H1FY27 H1FY27 56.0% H1FY26 H1FY27 68.9% 97.6% 99.3% Government Department Effluent Treatment Plant with recycling Public Sector Undertakings
Slide 38: Profit and Loss Statement
Profit and Loss Statement Particulars H1 FY27 H1 FY26 Y-o-Y Total Revenue 13,064.9 9,020.9 44.8% Cost of Goods Sold 9,585.1 6,232.4 Employee Expenses 843.8 712.7 Other Expenses 520.5 533.3 EBITDA 2,115.4 1,542.5 37.1% EBITDA Margin (%) 16.2% 17.1% -90 bps Other Income – – Depreciation 14.0 10.8 EBIT
Slide 39: Balance Sheet
Balance Sheet Assets Sept-26 Sept-25 Equity & Liabilities Sept-26 Sept-25 Non Current Assets Shareholder Funds (a) Equity share capital 2,314.7 2,314.7 (i) Property, plant and equipment (b) Reserves and Surplus 11,545.0 8,187.8 (ii)Tangible Assets 98.9 56.9 (c ) Non controlling Interest – – (iii)Cap
Slide 40: Cash Flow Statement
Cash Flow Statement Particulars Sept-26 Sept-25 Cash Flow from Operating Activities Profit before Tax 2,012.9 1,355.6 Adjustment for Non-Operating Items 62.1 46.4 Operating Profit/(Loss) before Working Capital Changes 2,075.0 1,402.0 Changes in Working Capital -3,944.7 1,289.4 Cash Generated from/(u
Slide 41: Historical Financial Overview
Historical Financial Overview
Slide 42: Key Financial Ratios
Key Financial Ratios Rs. In Lacs Revenue from Operations EBITDA & EBITDA Margin PAT & PAT Margin 84.39% YOY 251.97% YOY 4,210.5 25,329.4 2,861.8 18,511.9 3,002.0 2,011.3 14,515.9 2,115.4 11.3% 13,064.9 2,040.4 1,509.7 11,509.6 16.6% 1,390.5 16.2% 10.9% 11.6% 879.7 16.2% 9.6% 514.4 14.1% 7.6% 4.5% FY
Slide 43: Key Financial Ratios
Key Financial Ratios Current Ratio Debt-to-Equity Ratio Interest Coverage Ratio 3.30x 0.69x 2.88x 2.92x 23.90x 26.4% 0.50x 25.3% 22.3% 21.7% 1.91x 1.81x 0.38x 0.31x 0.31x 11.72x 11.53x 10.33x 4.58x FY23 FY24 FY25 FY26 H1 FY27 FY23 FY24 FY25 FY26 H1 FY27 FY23 FY24 FY25 FY26 H1 FY27 Investor Presentat
Slide 44: Historical Revenue Bifurcation
Historical Revenue Bifurcation Institutions wise Revenue Contribution 1.4% 0.5% 3.1% 46.8% 44.0% 38.4% 53.4% FY24 FY25 FY26 H1 FY27 43.5% 51.8% 61.1% 56.0% Government Institutions Public Sector Undertaking Private Sector Service wise Revenue Contribution 0.9% 3.0% 2.0% 5.4% 1.6% 0.7% 0.3% 11.3% 14.7
Slide 45: Historical Profit And Loss Statement
Historical Profit And Loss Statement Particulars FY24 FY25 FY26 H1 FY27 Revenue from Operations 14,515.9 18,511.9 25,329.4 13,064.9 Cost of Goods Sold 10,690.4 13,385.3 18,184.7 9,585.1 Employee Expenses 950.6 1,234.4 1,576.0 843.8 Other Expenses 834.6 890.3 1,358.2 520.5 EBITDA 2,040.4 3,002.0 4,21
Slide 46: Historical Balance Sheet
Historical Balance Sheet Assets Mar-24 Mar-25 Mar-26 Sept-26 Equity & Liabilities Mar-24 Mar-25 Mar-26 Sept-26 Non ‐ Current Assets Shareholder's Fund Property, plant and equipment (a) Equity share capital 1,783.0 2,314.7 2,314.7 2,314.7 (i)Tangible Assets 63.3 58.4 58.7 98.9 (b) Other equity 1,940.
Slide 47: Historical Cash Flow Statement
Historical Cash Flow Statement Particulars Mar-24 Mar-25 Mar-26 Sept-26 Cash Flow from Operating Activities Profit before Tax 1,858.2 2,725.2 3,822.6 2,012.9 Adjustment for Non-Operating Items 102.2 134.4 73.0 62.1 Operating Profit before Working Capital Changes 1,960.4 2,859.6 3,895.7 2,075.0 Chang
Slide 48: Thank You
Thank You Company Details: Effwa Infra & Research Ltd Lina Lad : Chief Financial Officer [email protected] www.effwa.co.in Investor Relations Partner: X-B4 Advisory LLP Rasika Sawant / Gautam Kothari +91 95944 57518 / +91 79776 16640 [email protected] / [email protected] www.x-b4.com Investor Present
Effwa Infra & Research — H1 FY27 Earnings Presentation on 6ix