About Oval Projects
Oval Projects is a publicly listed company founded in 2013. Infrastructure development services in Oil, Gas, and Power sectors. The company has 41 employees. Its Indian entity Oval Projects Engineering Limited reported revenue of ₹155 Cr. Oval Projects offers products and services including EPC Services and Pipeline Laying. Its focus areas include Energy, Power, Project Engineering and Station Development.
Company details
Oval Projects has been established as a key provider of infrastructure solutions since 2013, with services spanning Oil, Gas, and Power sectors across India. Certifications such as ISO 9001:2015 and ISO 14001:2015 are maintained to ensure quality and environmental standards are met in projects like EPC works and pipeline construction. Operations are conducted nationwide, focusing on upstream, midstream, and downstream activities, while adhering to safety regulations and fostering reliable partnerships in challenging environments.
- Employees 41
- Stage Public
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website ovalprojects.com
- Legal Name Oval Projects Engineering Limited
- Market Cap₹97.41 Cr
OVAL · BSE
- Share Price₹47.90
+2.13% today
- Revenue₹150 Cr
FY 2025-26 · +46.5% YoY
- EBITDA₹25.75 Cr
Margin 17.2%
- Net Profit₹13.71 Cr
FY 2025-26 · +48.7% YoY
- P/E (TTM)7.3x
P/B 0.9x
- Employee Count41
Associated legal entities of Oval Projects
Oval Projects is associated with 2 registered companies on The Company Check; the primary company is Oval Projects Engineering Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Oval Projects Engineering Limited Listed CIN L74900TR2013PLC008465 | Active | 07 Oct 2013 | Agartala, Tripura | ₹155 Cr | 41 | 7 | View details |
| Oval Projects Engineering Ltd CIN U74900TR2013PLC008465 | 07 Oct 2013 | Agartala, Tripura, India | View details |
Products & Services of Oval Projects
Oval Projects offers a comprehensive portfolio of products and services, including EPC Services and Pipeline Laying.
End-to-end solutions for infrastructure projects are delivered in the Oil and Gas sectors.
Cross-country pipelines are laid for gas distribution and other infrastructure needs.
Board of directors of Oval Projects Engineering Limited (Oval Projects)
Oval Projects Engineering Limited is the primary company behind Oval Projects. The board of Oval Projects Engineering Limited currently have 5 directors; the longest-serving is Goutam Debnath, appointed in 2014. 14 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Goutam Debnath DIN 06923261 | Managing Director | 11 Jun 2014 | 12 yrs 5 mo | Oval Projects Engineering Limited |
| Himangshu Mahawar DIN 08502912 | Director | 10 Jul 2019 | 7 yrs 4 mo | Oval Projects Engineering Limited |
| Khitish Kumar Nayak DIN 02155949 | Director | 06 Jul 2024 | 2 yrs 4 mo | Oval Projects Engineering Limited |
| Sneha Banik DIN 08968107 | Whole-time director | 06 Jul 2024 | 2 yrs 4 mo | Oval Projects Engineering Limited |
| Tarun Malik DIN 10697841 | Director | 06 Jul 2024 | 2 yrs 4 mo | Oval Projects Engineering Limited |
IPO & Listings of Oval Projects
Oval Projects is a publicly listed company on the BSE with ticker symbol OVAL in India, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date04 Sep 2025
- Listed onBSE: 544498
- Listed entityOval Projects Engineering Limited
- Exchange sectorIndustrial services
- ISININE0RTI01017
- Share price₹45.38 (+4.32% on the day) · 2026-10-13
- Market capitalisation₹90.3 Cr
- Price to earnings6.9
- EPS (diluted, trailing year)₹6.61
- Dividend yield2.3%
- Volume (last session)6,400
Financials of Oval Projects
Exchange-reported figures of Oval Projects Engineering Limited, the listed company behind Oval Projects (BSE: OVAL).
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | 150 | 102 | 77.97 | 59.02 | 59.29 |
| Revenue growth | +46.5% | +31.2% | +32.1% | -0.5% | - |
| EBITDA | 25.75 | 18.88 | 10.04 | 3.73 | 5.98 |
| EBITDA margin | +17.2% | +18.5% | +12.9% | +6.3% | +10.1% |
| Profit before tax | 19.95 | 13.18 | 6.99 | 4.42 | 4.15 |
| Net profit | 13.71 | 9.22 | 4.39 | 3.16 | 2.98 |
| Net profit margin | +9.2% | +9.0% | +5.6% | +5.4% | +5.0% |
| EPS (₹) | 7.96 | 6.11 | 3.22 | 485.52 | 452.91 |
| Balance sheet | |||||
| Total assets | 195 | 115 | 70.62 | 51.73 | 43.80 |
| Net worth | 110 | 55.97 | 33.66 | 17.75 | 14.57 |
| Total debt | 74.70 | 53.70 | 32.42 | 32.21 | 21.72 |
| Cash & bank | 26.14 | 20.30 | 10.78 | 11.32 | 3.96 |
| Net working capital | 146 | 81.36 | 41.25 | 32.67 | 30.36 |
| Cash flow | |||||
| Cash from operations | (37.42) | (16.07) | (1.13) | 11.98 | 0.80 |
| Cash from investing | (11.53) | (3.23) | (15.40) | (3.61) | (2.24) |
| Cash from financing | 54.78 | 28.82 | 15.99 | (1.01) | 1.29 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | 153 | 102 | 77.97 | 55.77 | 56.75 |
| Revenue growth | +49.7% | +31.2% | +39.8% | -1.7% | - |
| EBITDA | 24.53 | 18.22 | 9.99 | 2.83 | 5.31 |
| EBITDA margin | +16.0% | +17.8% | +12.8% | +5.1% | +9.4% |
| Profit before tax | 21.05 | 13.18 | 6.94 | 4.07 | 3.91 |
| Net profit | 14.82 | 9.22 | 4.36 | 2.94 | 2.86 |
| Net profit margin | +9.7% | +9.0% | +5.6% | +5.3% | +5.0% |
| EPS (₹) | 8.59 | 6.12 | 3.20 | 453.23 | 435.42 |
| Balance sheet | |||||
| Total assets | 176 | 103 | 70.71 | 45.29 | 38.53 |
| Net worth | 111 | 55.99 | 33.77 | 15.08 | 12.11 |
| Total debt | 55.22 | 41.96 | 32.40 | 28.48 | 18.95 |
| Cash & bank | 25.46 | 17.40 | 10.75 | 10.75 | 3.77 |
| Net working capital | 136 | 77.50 | 41.37 | 30.46 | 29.00 |
| Cash flow | |||||
| Cash from operations | (29.96) | (15.75) | (0.27) | 5.89 | (0.11) |
| Cash from investing | (11.95) | 4.39 | (16.69) | (3.01) | (0.62) |
| Cash from financing | 49.97 | 18.01 | 16.95 | 4.10 | 0.42 |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Revenue | 150 | 102 | 77.97 | 59.02 | 59.29 |
| Revenue growth | +46.5% | +31.2% | +32.1% | -0.5% | - |
| Other income | 4.72 | 1.31 | 1.06 | 5.11 | 0.19 |
| Total expenses | 124 | 83.41 | 67.93 | 55.29 | 53.31 |
| Employee cost | 0.00 | 4.59 | 3.75 | 3.43 | 3.36 |
| EBITDA | 25.75 | 18.88 | 10.04 | 3.73 | 5.98 |
| EBITDA margin | +17.2% | +18.5% | +12.9% | +6.3% | +10.1% |
| Depreciation | 1.16 | 0.56 | 0.66 | 0.94 | 1.07 |
| Interest | 9.36 | 6.45 | 3.45 | 3.48 | 0.95 |
| Profit before tax | 19.95 | 13.18 | 6.99 | 4.42 | 4.15 |
| Tax | 6.24 | 3.84 | 2.58 | 1.23 | 1.17 |
| Net profit | 13.71 | 9.22 | 4.39 | 3.16 | 2.98 |
| Net profit margin | +9.2% | +9.0% | +5.6% | +5.4% | +5.0% |
| EPS (₹) | 7.96 | 6.11 | 3.22 | 485.52 | 452.91 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Equity & liabilities | |||||
| Share capital | 20.77 | 15.27 | 13.66 | 0.07 | 0.07 |
| Reserves & surplus | 89.34 | 40.70 | 20.00 | 17.68 | 14.50 |
| Shareholders' funds (net worth) | 110 | 55.97 | 33.66 | 17.75 | 14.57 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 45.49 | 44.97 | 19.21 | 19.57 | 12.91 |
| Unsecured loans | 29.21 | 8.73 | 13.21 | 12.64 | 8.81 |
| Total debt | 74.70 | 53.70 | 32.42 | 32.21 | 21.72 |
| Total liabilities | 195 | 115 | 70.62 | 51.73 | 43.80 |
| Assets | |||||
| Gross block | 15.18 | 11.00 | 11.20 | 4.57 | 5.04 |
| Net block | 7.97 | 4.95 | 5.71 | 4.57 | 5.04 |
| Capital work in progress | 8.74 | 3.17 | 3.70 | 9.75 | 7.84 |
| Investments | 0.27 | 0.19 | 0.19 | 0.19 | 0.19 |
| Inventories | 65.08 | 44.57 | 39.88 | 23.03 | 15.34 |
| Sundry debtors | 37.14 | 42.56 | 17.82 | 18.25 | 21.48 |
| Cash & bank balances | 26.14 | 20.30 | 10.78 | 11.32 | 3.96 |
| Loans & advances | 40.22 | 15.45 | 5.96 | 10.59 | 15.92 |
| Total current assets | 169 | 123 | 74.44 | 63.19 | 56.70 |
| Total current liabilities | 22.55 | 41.52 | 33.19 | 30.52 | 26.34 |
| Net working capital | 146 | 81.36 | 41.25 | 32.67 | 30.36 |
| Total assets | 195 | 115 | 70.62 | 51.73 | 43.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Opening cash | 20.30 | 10.78 | 11.32 | 3.96 | 4.11 |
| Net cash from operating activities | (37.42) | (16.07) | (1.13) | 11.98 | 0.80 |
| Net cash from investing activities | (11.53) | (3.23) | (15.40) | (3.61) | (2.24) |
| Net cash from financing activities | 54.78 | 28.82 | 15.99 | (1.01) | 1.29 |
| Net change in cash | 5.84 | 9.52 | (0.54) | 7.36 | (0.15) |
| Closing cash | 26.14 | 20.30 | 10.78 | 11.32 | 3.96 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Growth | |||||
| Sales growth | +46.5% | +31.2% | +32.1% | -0.5% | - |
| EBITDA growth | +36.4% | +88.1% | +169.2% | -37.6% | - |
| PBT growth | +51.4% | +88.6% | +58.1% | +6.5% | +9997.0% |
| Net income growth | +48.7% | +110.0% | +38.9% | +6.0% | - |
| Revenue CAGR (3Y) | +36.4% | +19.9% | - | - | - |
| EBITDA CAGR (3Y) | +90.4% | +46.7% | - | - | - |
| Profitability & leverage | |||||
| Net income margin | +9.2% | +9.1% | +5.7% | +5.4% | +5.0% |
| Return on capital employed | - | +21.2% | +17.0% | +16.5% | +11.6% |
| Return on net worth | - | +20.8% | +17.1% | +19.7% | +20.4% |
| Debt / equity | - | 0.96 | 1.26 | 1.67 | 1.49 |
| Long-term debt / equity | - | 0.10 | 0.19 | 0.33 | 0.28 |
| Interest cover | 38.06 | 35.21 | 36.78 | 124.73 | 19.35 |
| Efficiency & per share | |||||
| Fixed asset turnover | - | 9.22 | 9.89 | 12.28 | 11.76 |
| Inventory turnover | - | 2.42 | 2.48 | 3.08 | 3.87 |
| Debtors turnover | - | 3.39 | 4.32 | 2.97 | 2.76 |
| EPS (₹) | 7.96 | 6.11 | 3.22 | 485.52 | 452.91 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 36.59 | 24.64 | 2,705.69 | 2,219.89 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Revenue | 153 | 102 | 77.97 | 55.77 | 56.75 |
| Revenue growth | +49.7% | +31.2% | +39.8% | -1.7% | - |
| Other income | 4.11 | 1.04 | 1.06 | 5.07 | 0.19 |
| Total expenses | 129 | 84.07 | 67.98 | 52.94 | 51.44 |
| Employee cost | 0.00 | 4.59 | 3.80 | 3.26 | 3.81 |
| EBITDA | 24.53 | 18.22 | 9.99 | 2.83 | 5.31 |
| EBITDA margin | +16.0% | +17.8% | +12.8% | +5.1% | +9.4% |
| Depreciation | 1.16 | 0.56 | 0.66 | 0.68 | 0.84 |
| Interest | 6.43 | 5.52 | 3.45 | 3.15 | 0.75 |
| Profit before tax | 21.05 | 13.18 | 6.94 | 4.07 | 3.91 |
| Tax | 6.23 | 3.84 | 2.56 | 1.10 | 1.05 |
| Net profit | 14.82 | 9.22 | 4.36 | 2.94 | 2.86 |
| Net profit margin | +9.7% | +9.0% | +5.6% | +5.3% | +5.0% |
| EPS (₹) | 8.59 | 6.12 | 3.20 | 453.23 | 435.42 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Equity & liabilities | |||||
| Share capital | 20.77 | 15.27 | 13.66 | 0.07 | 0.07 |
| Reserves & surplus | 90.45 | 40.72 | 20.11 | 15.01 | 12.04 |
| Shareholders' funds (net worth) | 111 | 55.99 | 33.77 | 15.08 | 12.11 |
| Secured loans | 36.36 | 27.78 | 19.90 | 16.53 | 1.94 |
| Unsecured loans | 18.86 | 14.18 | 12.50 | 11.95 | 17.01 |
| Total debt | 55.22 | 41.96 | 32.40 | 28.48 | 18.95 |
| Total liabilities | 176 | 103 | 70.71 | 45.29 | 38.53 |
| Assets | |||||
| Gross block | 15.18 | 11.00 | 11.20 | 7.75 | 8.04 |
| Net block | 7.97 | 4.95 | 5.71 | 2.79 | 3.41 |
| Capital work in progress | 8.74 | 3.17 | 3.70 | 6.88 | 5.11 |
| Investments | 0.29 | 0.22 | 0.22 | 0.70 | 0.70 |
| Inventories | 59.07 | 43.69 | 39.88 | 23.03 | 15.34 |
| Sundry debtors | 35.07 | 43.07 | 17.82 | 17.93 | 21.37 |
| Cash & bank balances | 25.46 | 17.40 | 10.75 | 10.75 | 3.77 |
| Loans & advances | 38.91 | 14.86 | 5.96 | 8.68 | 13.36 |
| Total current assets | 159 | 119 | 74.41 | 60.39 | 53.84 |
| Total current liabilities | 22.41 | 41.52 | 33.04 | 29.93 | 24.84 |
| Net working capital | 136 | 77.50 | 41.37 | 30.46 | 29.00 |
| Total assets | 176 | 103 | 70.71 | 45.29 | 38.53 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Opening cash | 17.40 | 10.75 | 10.75 | 3.77 | 4.09 |
| Net cash from operating activities | (29.96) | (15.75) | (0.27) | 5.89 | (0.11) |
| Net cash from investing activities | (11.95) | 4.39 | (16.69) | (3.01) | (0.62) |
| Net cash from financing activities | 49.97 | 18.01 | 16.95 | 4.10 | 0.42 |
| Net change in cash | 8.06 | 6.65 | 0.00 | 6.98 | (0.32) |
| Closing cash | 25.46 | 17.40 | 10.75 | 10.75 | 3.77 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Growth | |||||
| Sales growth | +49.7% | +31.2% | +39.8% | -1.7% | - |
| EBITDA growth | +34.6% | +82.4% | +253.0% | -46.7% | - |
| PBT growth | +59.7% | +89.9% | +70.5% | +4.1% | +9997.0% |
| Net income growth | +60.7% | +111.5% | +48.3% | +2.8% | - |
| Revenue CAGR (3Y) | +40.0% | +21.7% | - | - | - |
| EBITDA CAGR (3Y) | +105.4% | +50.8% | - | - | - |
| Profitability & leverage | |||||
| Net income margin | +9.7% | +9.1% | +5.6% | +5.3% | +5.0% |
| Return on capital employed | - | +21.5% | +17.9% | +17.2% | +12.1% |
| Return on net worth | - | +20.8% | +17.9% | +21.9% | +23.6% |
| Debt / equity | - | 0.83 | 1.25 | 1.74 | 1.57 |
| Long-term debt / equity | - | 0.10 | 0.13 | 0.18 | 0.16 |
| Interest cover | 27.51 | 31.26 | 36.98 | 146.51 | 16.78 |
| Efficiency & per share | |||||
| Fixed asset turnover | - | 10.84 | 9.71 | 8.27 | 8.19 |
| Inventory turnover | - | 2.88 | 2.92 | 3.40 | 4.29 |
| Debtors turnover | - | 3.95 | 5.15 | 3.32 | 3.08 |
| EPS (₹) | 8.59 | 6.12 | 3.20 | 453.23 | 435.42 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 36.66 | 24.72 | 2,297.64 | 1,844.41 |
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Frequently Asked Questions about Oval Projects
Oval Projects was founded in 2013.
Oval Projects has 41 employees.
The primary company behind Oval Projects, Oval Projects Engineering Limited, reported revenue of ₹155 Cr for FY 2026, up 47% year on year.
Oval Projects has been established as a key provider of infrastructure solutions since 2013, with services spanning Oil, Gas, and Power sectors across India. Certifications such as ISO 9001:2015 and ISO 14001:2015 are maintained to ensure quality and environmental standards are met in projects like EPC works and pipeline construction. Operations are conducted nationwide, focusing on upstream, midstream, and downstream activities, while adhering to safety regulations and fostering reliable partnerships in challenging environments.
Oval Projects offers EPC Services and Pipeline Laying.
Yes, Oval Projects is publicly traded on BSE under the ticker symbol OVAL.
Oval Projects operates through Oval Projects Engineering Limited.
The legal entities of Oval Projects currently have 7 directors, including Goutam Debnath, Himangshu Mahawar, Nisha Kashyap and others.