Annu Projects
Upcoming25–28 Aug 2026
Updated 2026-08-21 (IST)
Business overview
Established in 2003, Annu Projects Limited is engaged in the design, development, implementation, operations, and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure, gas pipeline, and railway signalling verticals.
Profit & Loss
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| FY24 | FY25 | FY26 | ||
|---|---|---|---|---|
| Sales | 154 | 180 | 241 | |
| Operating Profit | 29 | 32 | 50 | |
| OPM % | 18.5% | 17.9% | 20.8% | |
| Net Profit | 17 | 21 | 33 | |
| Total Debt | 20 | 22 | 53 |
Promoters
- Sanjay Kumar Sarraf — Chairman and Managing Director
- Krishna Ranjan — Whole-Time Director
Strengths & risks
Company-stated strengths and disclosed risk factors from the offer document.
- Established expertise in engineering, procurement and commissioning projects with special focus on underground and overhead utilities infrastructure. (p.217)
- Project management with integrated execution capabilities. (p.218)
- Strong Order Book. (p.219)
- Strong and consistent financial performance. (p.220)
- Experienced leadership and strong management team. (p.221)
- We derived more than 90.00% of our revenue from operations from our telecom infrastructure and sewerage infrastructure verticals during Fiscals 2026, 2025 and 2024. (p.22)
- We are dependent on and derived 57.09%, 64.99% and 60.88% of our revenue from operations from government sector entities based on competitive bidding. (p.23)
- We are dependent on our top ten customers in respect of our business, contributing 97.96%, 98.25% and 95.90% of revenue. (p.25)
- Our current Order Book may not necessarily translate into or indicate our future revenue in its entirety. (p.26)
- Our business is relatively concentrated in the States of Bihar, Jharkhand, Goa, West Bengal and Madhya Pradesh which contributed more than 70.00% of our revenue. (p.27)
Peer comparison — DRHP median P/E 19.9x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Likhitha Infrastructure Limited | Rs 211.35 -1.5% | 26.0x | 14.5% | 9.9% | live |
| Bondada Engineering Limited | Rs 286.35 -3.7% | 16.6x | — | — | live |
| EMS Limited | Rs 394.9 -2.7% | 32.0x | 20.3% | 7.6% | live |
| Suyog Telematics Limited | Rs 747.4 +1.0% | 14.5x | 63.2% | 16.7% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Market & competition
We are one of the diversified companies in the EPC sector, involved in fields ranging from fiber optics to sewerage projects and also undertakes gas pipeline projects. We face significant competition in our business from other organised and unorganised fragmented Indian players and international players, with main competitors being Bondada Engineering Limited, EMS Limited, Likhitha Infrastructure Limited, and Suyog Telematics Limited.
Future outlook
Our Company intends to strengthen its presence and grow in new geographies in India. As part of our expansion strategy, we are assessing target geographies where our services are relevant and in demand, and plan to adopt a phased approach for international operations. We also intend to diversify into and will continue to bid for projects related to the gas pipeline and sewerage infrastructure.
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Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
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