India · Delayed Price · Currency is INR Ahluwalia Contracts (India) Earnings Call Transcripts
Fiscal Year 2026
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Turnover and PAT grew strongly in FY 2026, with improved margins and a record order book. FY 2027 guidance is for 15%-20% revenue growth and double-digit EBITDA margins, supported by a robust project pipeline and escalation clauses in most contracts.
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Q3 FY 2026 saw double-digit revenue and profit growth, with improved margins and a robust order book. NGT-related disruptions in NCR impacted guidance, but FY 2027 is expected to see 15%-20% revenue growth, supported by major projects and strong liquidity.
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Turnover and profitability saw robust year-over-year growth in Q2 and H1 FY26, with margins improving significantly. Order inflow and execution remain strong, supported by a healthy pipeline and strategic investments in digitization and machinery. Labor and regulatory risks are being actively managed.
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Q1 FY 2026 saw 9.3% revenue and 67% PAT growth year-over-year, with improved margins and a robust order book of INR 16,582 crore. Guidance remains for 15%-20% annual revenue growth and double-digit EBITDA margins, supported by a strategic shift to private sector projects and strong liquidity.
Fiscal Year 2025
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Q4 FY25 saw 4.5% revenue growth and a 51% rise in PAT (excl. exceptionals) year-over-year, with double-digit EBITDA margin. FY25 order book stands at ₹15,775 crore, and FY26 guidance targets 15% revenue growth and ₹7,000–8,000 crore in new orders. Labor shortages and project delays remain key risks.
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Q3 FY 2025 saw revenue and PAT decline due to NGT bans, but a strong order book and margin recovery are expected in Q4 and FY 2026. Major projects are ramping up, with guidance for 15%+ revenue growth and double-digit margins next year.
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Q2 FY 2025 saw 12% revenue growth but a 31% PAT decline, with margins pressured by labor shortages, monsoon, and project delays. FY 2025 revenue growth is guided at 15% and margin at 9%, with a strong order book and cautious CapEx.
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Revenue grew 20% year-over-year in Q1 FY25, but margins declined due to labor shortages, monsoon disruptions, and project delays. Management expects double-digit EBITDA margins for FY25, with stronger H2 performance and a continued shift toward private sector projects.