A B Infrabuild Ltd Management Discussions

Industry structure and developments:

The Infrastructure and construction Business is the need of the hour especially for the developing country Like India. The Opportunities in the field of Construction and Building can never cease to exist in India. Construction entails not only building or erecting structures but also their maintenance. The Infrastructure of any country defines its outlook towards the Global presence. With ever changing need of the Population and increasing purchasing power of citizens, the demand for facilities beyond the basic necessity is growing. The Need of the hour is not only to provide stable roof over the persons head but also to build institutions through which the person can obtain the requisite skills and constantly up skill themselves with the adoption and usage of advanced technology in the field of construction, it is no more the matter of year or two.

In the Union Budget 2025-26, capital investment outlay for infrastructure has been increased to Rs. 11.21 lakh crore (US$ 128.64 billion), which would be 3.1% of GDP. The Infrastructure Finance Secretariat is established to enhance opportunities for private investment in infrastructure that will assist all stakeholders in more private investment in infrastructure.

The Indian government has introduced various formats to attract private investments, especially in roads and highways, airports, industrial parks and higher education and skill development sectors. The Second Asset Monetization Plan aims to reinvest Rs. 10 lakh crore (US$ 115.34 billion) in capital for new projects over the period 2025-30 to recycle capital and attract private sector participation.

Business Overview:

A B Infrabuild Limited provides various services such as civil and structural work, new station infrastructure, redevelopment of old stations, new railway lines, gauge conversion, track linking, track formation, building of Rail Over Bridge, Foot Over Bridge etc. We are engaged in the development of infrastructure for the last 14 years and have completed construction of Road Over Bridge ( ROB ) at various stations in the Central Railway and the Western Railway, Construction of Foot Over Bridges, Skywalks and elevated booking offices at many railway stations for the Mumbai Railway Vikas Corporation Ltd, Construction of new platforms for the Western Railway, Construction of new Station Buildings for the Western Railway and have also done repairs to the approach roads for the Western Railway. We are also undertaking reconstruction of Roads/Widening and construction of Pedestrian cum Vehicular Subways for the Municipal Corporation of Greater Mumbai and the Mumbai Metropolitan Region Development Authority.

Our company is operating in the Infrastructure sector which is a key driver for the Indian economy. The sector is highly responsible for propelling Indias overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. Infrastructure sector includes power, bridges, dams, roads and urban infrastructure development.

Below are the to p 5 key projects of the Company undertaken during the year:

1. Road Over Bridge at Vidyavihar Railway Station

MCGM (Municipal Corporation of Greater Mumbai)

0 Construction of ROB at Vidyavihar Railway Station connecting LBS Marg to RC Marg in N Ward.

0 Work consists of Construction of ROB across Vidyavihar Station connecting LBS marg and RC. Margo Length of bridge will be 450.00 m including solid approach. Width of bridge will be varies as per stretches. The work has to be carried out in stages without disrupting the railway services.

0 Construction of bridge is proposed with steel girder and deck slab resting on POT PTFE and Elastomeric bearing supported by pier. Substructure will rest on the foundation of piles and pile cap. Flyover consist of 4 number of Pile caps of 4-Pile group, 2 number of Pile caps of 6-Pile group, 4 number of pile cap of 10 pile group and 2 number of Pile caps of 12-Pile group. Span arrangement is 4 no. of 20 m span. Flyover consist of 1 no. of 99.0 m span is proposed with cast in situ and steel girder resting on POT-PTFE bearing supported by pier.

2. FOB On Station Between Chatrapati Shivaji Terminus

MRVC (Mumbai Metropolitan Region Development Authority)

0 Central Railway-Construction of FOB On Station Between Chatrapati Shivaji Terminus Kalyan on Central Line & Chatrapati Shivaji Terminus-Panvel On Harbour Line Section.

3. Reconstruction of Carnac Bridge at Lokmanya Tilak Marg, Masjid Bunder in A & B.

Work for BMC (BRIHANMUMBAI MUNICIPAL CORPORATION)

0 The new bridge will be a steel superstructure, 70 meters long and 9.5 meters wide, with four vehicular lanes.

0 Carnac, one of the oldest bridges of Mumbai, was built in 1868 and named after James Rivett-Carnac, who was the Governor of Bombay from 1839 to 1841. The bridge links the Masjid area in Mumbai with P D Mello Road, likely to ease traffic congestion in several places in South Mumbai.

0 The new Carnac Bridge, now renamed as Sindoor Bridge after the Operation Sindoor, was inaugurated by Maharashtra Chief Minister Devendra Fadnavis in Mumbai on Thursday

0 The Project is 100% completed physically.

4. Road Over Bridge between Vaitarna and Bhilad Stations

DFCCI (Dedicated Freight Corridor Corporation of India Ltd.)

0 ROBs (excluding approaches) in lieu of level crossings for LC No. 46A at IR chainage 90/10-11 and LC No. 61 at IR Chainage 134/16-18 between Vaitarna and Bhilad stations of Virar-Surat section of Mumbai division of Western Railway.

0 Construction of RCC abutments and piers, for Composite girders RCC/PSC girder as per IRC loading, including pile foundations/ open foundation as per GAD/Design, Construction of Approximate 12m/20m etc. wide RCC deck slab on plate girders (composite) RCC/PSC girder and 7.5m/ 15m etc. width on approaches as per approved GADs.

5. Reconstruction of ROB at Gopal Krishna Gokhale Bridge at Andheri. Work for BMC (BRIHANMUMBAI MUNICIPAL CORPORATION) (Project Cost : Rs. 86.14 Crore LOA Dated 06.01.2023

0 The Gokhale Bridge, a crucial east-west connector in Mumbais Andheri

0 The bridge was reconstructed and fully reopened in May 2025 after being partially closed since 2017 and fully shut since 2022.

0 It has eased traffic congestion, improved connectivity between East and West Andheri, and enhanced accessibility to key locations like the railway station and metro lines

0 The Project is 100% completed physically.

Opportunities and Threats:

The infrastructure industry presents a mix of significant opportunities and notable threats. Growth in emerging markets, increased public and private investment, and technological advancements are creating opportunities, while challenges like land acquisition, funding gaps, and environmental concerns pose significant threats. Understanding these dynamics is crucial for navigating the evolving landscape of the infrastructure sector.

Opportunities:

Growth in Emerging Markets:

Developing nations are experiencing rapid urbanization and industrialization, fuelling demand for new infrastructure projects like transportation networks, energy grids and water systems.

Increased Investment:

Governments worldwide are prioritizing infrastructure development, allocating substantial public funds and encouraging private sector participation through Public-Private Partnerships (PPPs).

Technological Advancements:

Smart infrastructure solutions, such as intelligent transportation systems and smart grids, are enhancing efficiency and sustainability. Drones, AI and other technologies are also improving project management, safety and maintenance.

Focus on Sustainability:

Growing awareness of environmental issues is driving demand for green infrastructure, including renewable energy projects, sustainable transportation and eco-friendly buildings.

Demographic Changes:

Increasing life expectancy and rising income levels are creating opportunities for social infrastructure development, including healthcare facilities, educational institutions and housing.

Threats, Risks and Concerns:

Land Acquisition and Clearances:

Obtaining land for projects and navigating complex regulatory processes can cause significant delays and cost overruns.

Funding Gaps:

Large-scale infrastructure projects require substantial upfront investment, and securing adequate and long-term financing can be a major challenge.

Geopolitical Instability:

Global disruptions can impact supply chains, increase material costs and affect project timelines.

Environmental Compliance:

Infrastructure development must adhere to increasingly stringent environmental regulations, requiring careful planning and mitigation measures.

Skill Shortages:

Specific skill gaps in areas like project management, specialized construction techniques, and the operation of new technologies can hinder project progress.

Natural Disasters:

Infrastructure assets are vulnerable to natural disasters, which can disrupt projects and cause significant damage. Cyber Security Risks:

Critical infrastructure is increasingly susceptible to cyber-attacks, which can have severe consequences for operations and security.

Economic Downturns:

Economic recessions can impact project funding and delay or cancel infrastructure investments.

Political Uncertainty:

Changes in government policies and priorities can create uncertainty for long-term infrastructure projects. Competition:

The infrastructure sector is becoming more competitive, with new players entering the market and existing firms expanding their capabilities.

Outlook:

Public infrastructure is the backbone of economic development, enhancing connectivity, trade, and overall quality of life. India, the worlds fourth-largest economy, has made remarkable progress in infrastructure development over the past decade.

The total infrastructure investment in India has significantly increased, with public and private sector contributions shaping the growth trajectory. The Honourable Finance Minister, in the 8th consecutive budget, lays down a well- defined strategy to steer Indias economy on a path of growth. Budget 2025-26, core to the vision of Viksit Bharat @ 2047, allocates Rs. 11.21 lakh crore for the infrastructure sector.

Internal control systems and their adequacy.

The Company has a proper and adequate system of internal controls. These controls ensure transactions are authorized, recorded and reported correctly and assets are safeguarded and protected against loss from unauthorized use or disposition. In addition, there are operational controls and fraud risk controls, covering the entire spectrum of internal financial controls within the meaning of the Act. An extensive program of internal audits and management reviews supplement the process of internal financial control framework. Documented policies, guidelines and procedures are in place for effective management of internal financial controls.

Financial and Operational Performance:

Particulars	For the year ended 31 st March, 2025	For the year ended 31st March, 2024
Total Revenue	20,993.56	18,448.80
Total expenses	18,741.84	16,850.30
Profit before exceptional items and income tax	2,251.72	1,598.50
Exceptional item	66.15	39.42
Profit before tax	2,185.57	1,559.08
Tax Expenses	573.43	417.33
Profit after tax for the period	1,612.14	1,141.75
Basic and Dilutes earning per share	3.36	2.96

Material developments in Human Resources/Industrial Relations front, including number of people employed.

The Company continuously focuses on aligning organizational objectives with the efforts facilitated by an effective organization structure. New talents are hired at the leadership as well as operating levels, costs are optimized and improved and automated methods for achieving better controls and efficiency at the project sites were deployed. The manpower numbers were contained to the actual requirement of the projects linked to work progress. The Company has comprehensive safety plans in place for all workers and clear protocols to follow in the event of injuries.

The company continues to give utmost importance to Human Resources Development and keeps relations normal. As on 31st March, 2025, there were 27 employees in the Company.

Industrial relations continue to be harmonious and normal.

Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios, along with detailed explanations therefore, including:

Ratios	31.03.2025	31.03.2024	% variation	Remarks
Debtors Turnover-	5.85	6.90	(15.28)	N.A.
Inventory Turnover	2.51	2.81	(10.84)	N.A.
Interest Coverage Ratio	5.46	4.58	19.01	N.A.
Current Ratio	1.69	1.93	(12.56)	N.A.
Debt Equity Ratio	1.26	0.92	36.55	Due to Increase in borrowings during the year
Operating Profit Margin (%)	14.12 %	11.64 %	21.33	N.A.
Net Profit Margin (%)	7.74 %	6.21 %	24.68	N.A.
Return on Net Worth	0.15	0.14	4.32	N.A.

By Order of Board of Directors For A B INFRABUILD LIMITED

Sd/-	Sd/-
Amit Mishra	Bharatkumar Parmar
Managing Director	Whole time Director
DIN-03388129	DIN: 07645422
Date : 08.08.2025
Place : Mumbai	__