India · Delayed Price · Currency is INR Afcons Infrastructure Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw a 5.4% revenue decline and the first quarterly loss since 2010, driven by payment delays, geopolitical disruptions, and one-time provisions. Despite these challenges, order inflow guidance for FY 2027 is INR 30,000 crore, with a robust pipeline and improving working capital expected.
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Revenue and profit declined year-over-year due to execution delays and payment issues, but margins improved and order inflow guidance remains at INR 20,000 crores. Operational excellence, robust pipeline, and strong liquidity position the company for recovery and growth in Q4.
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Revenue and EBITDA grew modestly in H1 FY26, with margins exceeding guidance despite order conversion and payment delays. FY26 revenue growth is now expected at 10%+, with strong order inflow and a robust pipeline, but working capital remains elevated due to client payment issues.
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Q1 FY 2026 saw 6.4% revenue growth, margin expansion, and strong PAT, with robust order book and pipeline. Execution and order inflow guidance for FY 2026 are maintained, despite some payment delays and project-specific risks.
Fiscal Year 2025
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FY2025 saw a 4.6% revenue decline but EBITDA margin improved to 12.8% and PAT grew 8% year-over-year. The order book reached a record INR 36,869 crores, with FY2026 guidance for 20%-25% revenue growth and 11%+ EBITDA margin. Payment delays and geopolitical risks remain key uncertainties.
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Q3 FY25 saw revenue and profitability growth, with EBITDA margin at 13.5% and PAT up 35.7% year-over-year. The order book reached INR 38,000 crores, with robust pipeline visibility and FY26 revenue growth guidance of 20%-25%. Working capital remains elevated, but debt reduction and strong cash flow are expected.
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Record-high EBITDA and PAT margins achieved despite a marginal revenue decline due to external factors. Strong order inflow and robust pipeline support revenue visibility, with FY26 growth expected at 20%-25%. IPO proceeds have strengthened the balance sheet and improved liquidity.