India · Delayed Price · Currency is INR Hindustan Construction Company Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw revenue of INR 982 crores and net profit of INR 37 crores, with EBITDA margin dropping to 10.7% due to mobilization costs. Order book remains strong at INR 13,000 crores, and management expects margin recovery and robust order inflow, targeting INR 15,000 crores in new orders for FY27.
Fiscal Year 2026
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Net profit rose 142% year-over-year to INR 206 crore, with debt reduced by 38% to INR 1,995 crore. Order intake reached INR 5,654 crore, and the company targets INR 15,000 crore in new orders for FY 2027, aiming to be debt-free by FY 2028.
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Quarterly turnover reached INR 921 crore with EBITDA margin above 15% and profit of INR 86 crore. Debt reduction and a successful rights issue improved liquidity, while a robust order book and pipeline support strong growth outlook. Nuclear and metro projects are progressing well.
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Q2 FY26 saw revenue decline to INR 958 crore due to project completions, but profitability remained strong with a 16% EBITDA margin and PAT of INR 36 crore. The company is aggressively deleveraging, targeting further debt reduction via a INR 1,000 crore rights issue, and expects robust order intake and margin expansion in coming years.
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Order backlog stands at INR 11,188 crore with INR 6,000 crore in L1 and a robust INR 40,000 crore bid pipeline. FY 2026 revenue is expected to remain flat, but a 15%-25% CAGR is targeted from FY 2027 as new projects ramp up. Debt reduction and margin stability remain key priorities.
Fiscal Year 2025
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Order backlog stands at INR 11,852 crore with a robust pipeline in urban infra and hydropower. FY margins improved due to settlements, while debt reduction and capital raises strengthen the balance sheet. Growth is expected to accelerate from FY 2027 as new orders materialize.
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Order backlog stands at INR 9,773 crore, with revenue and profit impacted by the Steiner divestment and tax regime change. Net debt is INR 2,900 crore, with a 15% annual reduction targeted. Growth is expected from FY26 as new orders are executed.
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Standalone and consolidated profits improved despite lower consolidated revenue, with EBITDA margin rising to 18%. Order book remains robust at INR 9,800 crore, with significant new project wins and a strong pipeline. Debt reduction and QIP fundraise are key priorities for future growth.
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Standalone profit rose year-over-year, but consolidated results showed a loss due to Steiner AG. Order backlog remains strong with significant new bids in progress, and a QIP is planned to fund growth. FY25 is seen as a transition year, with stronger execution and order inflow expected in FY26.