Key Metrics of Om Infra
About Om Infra
Sectors
Company details
- Registered office
- 3rd Floor, A-block,, Om Tower, Church Road,, M.i. Road, Jaipur, In-rj, 302001
- Listed
- NSE: OMINFRAL · ₹63.87
Operational Areas of Om Infra
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
Sign in with access to company financials to review vendor evidence.
Credit ratings
WatchLiquidity assessed as Stretched
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 30 Mar 2026 | CARE | Other | — | — | — | — | View |
| 26 Sep 2025 | CARE | Downgraded (from BBB) | BBB- | — | Stable | ₹723 Cr | View |
| 03 Jul 2024 | CARE | Revised (from BBB-) | BBB | — | Stable | ₹738 Cr | View |
| 03 Jul 2023 | CARE | Revised (from BB+) | BBB- | — | Stable | ₹738 Cr | View |
| 10 Oct 2022 | CARE | Revised (from BBB-) | BB+ | A4+ | Stable | ₹1,476 Cr | View |
| 07 Jan 2022 | CARE | Reaffirmed | BBB- | A3 | Stable | ₹738 Cr | View |
| 21 Dec 2020 | CARE | Reaffirmed | BBB- | A3 | Stable | ₹1,476 Cr | View |
| 07 Jan 2020 | CARE | Revised (from BBB) | BBB- | A3+ | Stable | ₹1,503 Cr | View |
| 10 Jun 2019 | CARE | Revised | — | A3+ | Negative | ₹793 Cr | View |
| 08 Oct 2018 | CARE | Reaffirmed | BBB+ | A2 | Stable | ₹793 Cr | View |
Credit strengths (CARE, Mar 2026)
+ Experienced promoters
OIL is promoted by Om Kothari Group. The promoter, C P Kothari, has around five decades of experience in executing engineerin g contracts for hydel and irrigation projects. He is supported by his two brothers, who also have substantial industrial experi ence and manage the company’s day -to-day operations. Strong market position of OIL with established track record in EPC of hydro-mechanical and irrigation projects OIL is among the leading players in hydro-mechanical project execution and has be
+ Strong market position of OIL with established track record in EPC of hydro-mechanical and irrigation projects
OIL is among the leading players in hydro-mechanical project execution and has been active in the industry for over five decades. The company has successfully executed over 70 hydro-mechanical and irrigation projects across India and abroad, which provides a competitive edge in bidding for new orders. Healthy order book position The company has an outstanding order book of around ₹2,500 crore as on December 31, 2025, equivalent to around 3.8x of its
+ Healthy order book position
The company has an outstanding order book of around ₹2,500 crore as on December 31, 2025, equivalent to around 3.8x of its total operating income in FY25, offering medium-term revenue visibility. The order book comprises contracts across hydro- mechanical works, hydro power, irrigation projects (dams and reservoirs), and engineering, procurement and construction works of dams and reservoirs. The order book includes Jal Jeevan Mission projects aggregating ₹1,350 crore, which supports revenue visi
+ Liquidity: Stretched
Liquidity position is stretched, marked by GCA of ₹9.25 crore in 9MFY26 against debt repayment obligations of ~8 crore in FY26. Average utilisationfor the last 6 monthof fund-based limits for the trailing 6 months ended Dec 2025 remained high at ~95.61%. Environment, social, and governance (ESG) risks : NA Applicable criteria Definition of Default Liquidity Analysis of Non-financial sector entities Rating Outlook and Rating Watch
+ Environment, social, and governance (ESG) risks : NA
Applicable criteria Definition of Default Liquidity Analysis of Non-financial sector entities Rating Outlook and Rating Watch Financial Ratios – Non financial Sector Construction Sector Infrastructure Sector Ratings
+ Brief Financials (₹ crore) March 31, 2024 (A) March 31, 2025 (A) 9MFY26 (UA)
Total operating income 1,065.10 659.12 318.19 PBILDT* 98.09 27.08 19.53 Profit after tax (PAT) 57.18 36.10 13.49 Overall gearing (x) 0.18 0.16 NA Interest coverage (x) 4.13 1.24 1.39 A: Audited UA: Unaudited NA: Not available; Note: these are latest available financial results *PBILDT: Profit before interest, lease rentals, depreciation and tax
Credit challenges
− Deterioration in financial performance and risk profile in 9MFY26
The company reported a Total Operating Income (TOI) of ₹311.19 crore in 9MFY26, compared to ₹483.49 crore in 9MFY25. The company’s TOI is mainly derived from execution of engineering, procurement and construction (EPC) of hydro power, irrigation and water supply projects. The decline was primarily attributable to slower execution of Jal Jeevan Mission (JJM) projects in Q2FY26 and Q3FY26 due to extended monsoon and lower release of funds by the government.
− High exposure to group companies albeit marginal reduction witnessed in 9MFY26
OIL has exposure to group companies in the form of equity investments, loans, and advances, which accounted for 58% of tangible net worth as on March 31, 2025, reduced from 61% as on March 31, 2024. The exposure remains high, with significant concentration in Om Metal Consortium Private Limited (OMCPL, wholly owned subsidiary) and Bhilwara Jaipur Toll Road Private Limited (BJTRPL, joint venture with 51% share), which together accounted for around 86% of total group company exposure as
− Working capital intensive operations
OIL relies on bank borrowings to finance its working capital requirements. Major clients include government entities, which lead to delays in realisations due to long and stringent payment approval processes. Inventory period remains high due to simultaneous execution of multiple projects. Average collection period elongated from 84 days in FY24 to 143 days in FY25 due to higher unbilled revenue in JJM projects and increased retention money from slower execution of hydro and water project. Inven
− Execution risks associated with hydro -power projects and saleability risk under real estate project
Hydro-mechanical projects involve execution risks due to difficult terrain, geological conditions, and dependence on EPC contractors for construction. However, the company has diversified into water supply projects under JJM, which mitigates execution risk to an extent as these projects have comparatively lower execution risk. The company has executed one real estate project, Om Green Meadows in Kota, Rajasthan, which exposes OIL to saleability risk.
− Key strengths
Experienced promoters OIL is promoted by Om Kothari Group. The promoter, C P Kothari, has around five decades of experience in executing engineerin g contracts for hydel and irrigation projects. He is supported by his two brothers, who also have substantial industrial experi ence and manage the company’s day -to-day operations. Strong market position of OIL with established track record in EPC of hydro-mechanical and irrigation projects
− Strong market position of OIL with established track record in EPC of hydro-mechanical and irrigation projects
OIL is among the leading players in hydro-mechanical project execution and has been active in the industry for over five decades. The company has successfully executed over 70 hydro-mechanical and irrigation projects across India and abroad, which provides a competitive edge in bidding for new orders. Healthy order book position The company has an outstanding order book of around ₹2,500 crore as on December 31, 2025, equivalent to around 3.8x of its
Could lead to an upgrade
• Significant improvement in scale of operations with improvement in profitability margins on a sustained basis. • Reduction in working capital cycle with average collection period resulting in improvement in
Could lead to a downgrade
• Significant decline in scale of operations and contraction in profitability margins from current levels. • Deterioration in total debt/gross cash accruals (TD/GCA) above 6.50x on sustained basis.
Agency-reported financials (CARE, 30 Mar 2026)
| Metric | March 31, 2024 | March 31, 2025 | 9MFY26 |
|---|---|---|---|
| Total operating income | ₹1,065 Cr | ₹659 Cr | ₹318 Cr |
| PBILDT* | ₹98.09 Cr | ₹27.08 Cr | ₹19.53 Cr |
| Profit after tax (PAT) | ₹57.18 Cr | ₹36.10 Cr | ₹13.49 Cr |
| Overall gearing (x) | 0.18× | 0.16× | — |
| Interest coverage (x) | 4.13× | 1.24× | 1.39× |
| Revenue growth (YoY) | — | −38.1% | — |
| PAT margin | 5.4% | 5.5% | 4.2% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹99.6 Cr | — | BBB- (Stable) | Downgraded | CARE |
| Long-term Short-term bank | Working capital & bank lines | — | ₹623 Cr | — | BBB- (Stable) | Downgraded | CARE |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Cash Credit | ₹89.0 Cr | CARE BB+; Stable |
| LT/ST | ₹623 Cr | CARE BB+; Stable / CARE A4+ |
| Term Loan | ₹10.6 Cr | CARE BB+; Stable |
Lenders
| Fund-based - LT | Cash Credit | Bank of Baroda |
| Fund-based - LT | Cash Credit | Bank of India |
| Fund-based - LT | Cash Credit | HDFC Bank Ltd. |
| Fund-based - LT | Cash Credit | IDBI Bank Ltd. |
| Fund-based - LT | Cash Credit | Proposed |
| Fund-based - LT | Cash Credit | RBL Bank Limited |
| Fund-based - LT | Cash Credit | State Bank of India |
| Fund-based - LT | Cash Credit | Union Bank of India |
| Fund-based - LT | Term Loan | Bank of Baroda |
| Fund-based - LT | Term Loan | HDFC Bank Ltd. |
| Fund-based - LT | Term Loan | State Bank of India |
| Non-fund-based | LT/ST | Bank of Baroda |
| Non-fund-based | LT/ST | Bank of India |
| Non-fund-based | LT/ST | HDFC Bank Ltd. |
| Non-fund-based | LT/ST | IDBI Bank Ltd. |
| Non-fund-based | LT/ST | Proposed |
| Non-fund-based | LT/ST | RBL Bank Limited |
| Non-fund-based | LT/ST | State Bank of India |
| Non-fund-based | LT/ST | Union Bank of India |
Credit assessment · Construction (EPC contractors)
ICRA Rating Methodology – Construction (Oct 2024) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 31% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 31% chance the next rating action is stable or better
- Interest coverage 1.39×
What happened, step by step
- Jul 2024 — ₹609.12 cr raised
- Jul 2024 — Full repayment of debt
“The company has raised various claims to the tune of Rs.609.12 crores.”
Rated limits by facility
Timeline
From the report
However, Gross Cash Accruals declined to ₹9.25 crore in 9MFY26 from ₹32.73 crore in 9MFY25, primarily due to lower scale of operations and lower non- operating income.
From the report
On an absolute basis, overall exposure declined from ₹449.36 crore as on March 31, 2025 to ₹429.72 crore as on December 31, 2025, driven by repayment of loans and advances of around ₹14.25 crore by OMCPL and a reduction in investment of around ₹5.68 crore.
From the report
In both these arbitration, lower court has ordered arbitration in favour of the company Exposure to group companies is expected to moderate over the medium term, supported by repayment of loans and advances by OMCPL from the sale of unsold units and recovery of receivables in Pallacia, and potential inflows from arbitration proceeds in BJTRPL and GTPCPL, subject to timely and favourable resolution of the litigations.
From the report
Adjusted gearing (after factoring in exposure to group companies) improved from 0.46x as on March 31, 2024, to 0.37x as on March 31, 2025, due to repayment of loans and advances by a subsidiary and joint venture.
From the report
On an absolute basis, overall exposure reduced from ₹457.92 crore as on March 31, 2024, to ₹449.36 crore as on March 31, 2025, mainly due to repayment of loans and advances by OMCPL (~₹3.56 crore) and BJTRPL (~₹4.69 crore) in FY25.
From the report
Exposure to group companies is expected to reduce, considering repayment of loans and advances extended to OMCPL from sale proceeds of unsold units and receivables in Pallacia, and from arbitration proceeds in BJTRPL.
From the report
Liquidity: Adequate Liquidity position is adequate, marked by GCA of ₹40.18 crore against debt repayment obligations of ~₹14 crore in FY25.
From the report
Projected cash accruals are expected to be sufficient to meet debt repayment obligations of ~₹8 crore in FY26.
From the report
Liquidity is also supported by free cash and bank balances of ₹25.50 crore as on March 31, 2025.
From the report
The company has exposure of Rs.1 20.83 crore in its toll project under joint venture, BJTRPL and had also extended corporate guarantee for the project which got release during the FY24 on repayment of outstanding debt & interest obligation.
From the report
The company has raised various claims to the tune of Rs.609.12 crores.
From the report
Liquidity: Adequate The company has unencumbered cash and cash equivalents Rs. 15.93 crore as on March 31, 2024.
From the report
Further, the company is estimated to have gross cash accruals of Rs. 74.20 crores in FY25 against debt repayment of around Rs. 14 crores.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Om Infra
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Part of Aditya Birla Group. | hindalco.com | 1962 | Mumbai, India | |
| Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | coalindia.in | 1975 | Kolkata, India | |
| Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | vedantalimited.com | — | Coimbatore, India | |
 Adani Enterprises |
Part of Adani Group. | adanienterprises.com | 1993 | Ahmedabad, India |
 Hindustan Zinc |
Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | hzlindia.com | 1966 | Udaipur, India |
 National Aluminium Company (NALCO) |
Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | nalcoindia.com | — | India |
| Jain Resource Recycling Limited | Discovered Companies · Other Industries | — | — | Tamil Nadu, India |
| Sarda Energy & Minerals Limited | Stainless Steel & Non-Ferrous Metals · Steel, Metals & Pipes | — | — | Nagpur, Maharashtra, India |
 Pennar Industries Limited |
TMT Bars & Secondary Steel · Steel, Metals & Pipes | pennarindia.com | 1977 | Hyderabad, Telangana, India |
 Hindustan Copper |
Part of Life Insurance Corporation of India. | hindustancopper.com | 1967 | Kolkata, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.