How has been the historical performance of Optiemus Infra?

Revenue and Profitability Trends

Optiemus Infra’s net sales have shown a strong upward trajectory, rising from ₹1,195.97 crores in March 2019 to ₹1,890 crores in March 2025. This growth reflects a more than 50% increase over six years, with particularly sharp gains from ₹471.63 crores in March 2022 to ₹1,173.88 crores in March 2023, and further to ₹1,890 crores in the latest fiscal year. The company’s operating profit margin, excluding other income, has improved significantly, moving from a negative 3.49% in 2019 to a positive 5.74% in 2025, indicating enhanced operational efficiency and cost management.

Profit after tax (PAT) has also turned around impressively. After enduring losses of ₹40.55 crores in 2019 and a steep ₹69.16 crores in 2020, the company returned to profitability in 2021 with a modest loss turnaround and posted a consolidated net profit of ₹63.33 crores in 2025. Earnings per share (EPS) followed a similar pattern, improving from a negative ₹6.92 in 2019 to a positive ₹7.26 in 2025, signalling growing shareholder value.

Balance Sheet and Asset Quality

The company’s balance sheet has strengthened considerably, with shareholder’s funds rising from ₹235.69 crores in 2020 to ₹665.29 crores in 2025. This growth is supported by a steady increase in reserves, which more than tripled from ₹149.88 crores in 2020 to ₹578.04 crores in 2025. Book value per share has also improved markedly, from ₹27.47 in 2020 to ₹70.45 in 2025, reflecting enhanced net asset value per share.

On the liabilities side, total debt has been managed prudently, declining from ₹214.65 crores in 2020 to ₹129.33 crores in 2025. Long-term borrowings have increased moderately but remain controlled at ₹66.25 crores in 2025, while short-term borrowings have decreased from ₹98.51 crores in 2021 to ₹63.08 crores in 2025. The company’s total liabilities have grown in line with asset expansion, reaching ₹1,546.95 crores in 2025 from ₹553.20 crores in 2020, reflecting business scale-up.

Cash Flow and Operational Efficiency

Cash flow patterns reveal a mixed but improving picture. Operating cash flow was negative ₹12 crores in 2025, a slight setback compared to positive ₹40 crores in 2024, but this follows a history of volatility with significant negative cash flows in earlier years. Investing activities have consistently involved outflows, indicative of ongoing capital expenditure and expansion efforts, with ₹50 crores spent in 2025. Financing activities have provided strong inflows, notably ₹178 crores in 2025, supporting growth and debt management.

Closing cash and cash equivalents have surged to ₹144 crores in 2025 from just ₹6 crores in 2020, providing a comfortable liquidity buffer. Working capital management remains a focus, with net current assets improving to ₹358 crores in 2025, up from ₹171 crores in 2020, supporting operational needs.

Summary and Outlook

Overall, Optiemus Infra’s historical performance reflects a significant recovery and growth phase. The company has transitioned from losses and negative margins to sustained profitability and margin expansion. Revenue growth has been robust, supported by improved cost controls and operational efficiencies. The balance sheet is healthier, with increased equity and manageable debt levels, while cash reserves have strengthened considerably.

Investors should note the company’s ongoing capital investments and fluctuating cash flows, which are typical of a growing enterprise. The improving earnings per share and book value per share indicate enhanced shareholder returns. As Optiemus Infra continues to scale, its financial metrics suggest a positive trajectory, though monitoring working capital and cash flow stability will be important for future assessments.

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