India · Delayed Price · Currency is INR Afcons Infrastructure Earnings Call Transcripts
Fiscal Year 2026
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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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Q4 and FY25 saw revenue decline due to payment delays and project challenges, but EBITDA margin improved to 12.8% and PAT grew 8%. The order book reached a record INR 36,869 crores, with strong growth and margin guidance for FY26. Payment and execution issues are expected to ease as liquidity improves.
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Q3 FY25 saw 5% revenue growth year-on-year and a 14.1% rise in EBITDA, with margins and PAT improving significantly. The order book reached record highs, and FY26 revenue is guided to grow 20%-25%, supported by robust government infrastructure spending and a strong project pipeline.
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Record-high EBITDA margin and strong PAT growth achieved despite a marginal revenue decline due to external factors. Order book and pipeline remain robust, with FY26 revenue growth guided at 20%-25% and sustainable EBITDA margins above 11%.