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“ZLD Systems, High ROE, and 232 Debtor Days – Cleaning India, One Pending Invoice at a Time”
🧠 At a Glance:
Effwa Infra is in the sexy-but-unglamorous business of environmental engineering — building sewage, effluent, and solid waste treatment plants for PSUs, industrial clients, and municipal bodies. They do all the dirty work… literally. But don’t be fooled — this is a high-growth, high-margin business with real scale.
What’s the catch? Working capital days = 193. Debtors = 232 days. And if your client is a PSU? Getting paid is harder than cleaning the Ganga.
🔍 1. WTF Do They Even Do?
Effwa Infra offers:
🧫 Effluent & Sewage Treatment Plants (ETP, STP)
🚯 Solid Waste & Bioremediation
🧪 Zero Liquid Discharge (ZLD) systems
💧 Water Body Restoration
🔁 Turnkey EPC projects — from design to commissioning and maintenance
They cater to PSUs, municipalities, and industrial clusters. Basically, whenever a government agency says “Swachh Bharat,” Effwa hears “new order.”
📊 2. Financials – Growth Story or PSU Pledge Drive?
