The company’s Q1 FY26 revenue climbed to ₹135 crore, a 108% increase over the ₹65 crore it earned in the same quarter last year, as disclosed in its BSE filing.
The order book now sits at roughly ₹1,600 crore, broken down into ₹650 crore from its C-Tech segment, ₹600 crore from wastewater recycling, and ₹350 crore from municipal solid waste treatment.
SFC will deploy ₹42 crore of its fresh issue proceeds to pay off term debt, reducing its total debt of ₹200 crore to near zero net debt. CFO Amit Sawant estimates the move will shave off ₹3‑4 crore in annual finance costs, given the >8% interest on the term loans.
Working‑capital terms vary: 120‑150 days for C-Tech, 60 days for wastewater, and 45 days for municipal. With 55‑60% of revenue generated in Q4, the company’s cash‑conversion cycle tightens toward year‑end, but a higher contribution from short‑cycle segments could ease the pressure.
Margins across the three technology streams are within 10% of each other. Asolkar notes that price flexibility is market‑driven, so internal efficiencies—automation, standardisation, lower manufacturing costs, and inventory discipline—are the primary levers for margin improvement.
Looking ahead, the firm is gearing up for an IPO, with the debt‑repayment strategy positioning it for a stronger balance sheet. Investors will watch the next filing to gauge whether the liquidity boost translates into higher profitability and a cleaner balance sheet.