India · Delayed Price · Currency is INR Dilip Buildcon Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY 2027 featured steady execution, a robust INR 27,691 crore order book, and reaffirmed guidance for 30%-40% revenue growth and 10%-12% EBITDA margin. Debt reduction and asset monetization strategies remain on track, with significant progress in mining, EPC, and renewables.
Fiscal Year 2026
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FY 2026 saw a strategic pivot to long-term asset-based revenue, with order inflow exceeding guidance and mining operations scaling up. Despite revenue decline, profitability improved, and the company targets significant debt reduction and further growth in mining and InvIT assets.
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Order book reached a record INR 29,300 crore with strong diversification and FY 2026 order inflows already exceeding guidance. Revenue and EBITDA declined YoY due to lower execution, but PAT surged on exceptional gains from asset transfers. Debt reduction and margin improvement are targeted for next year.
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Order inflow and execution remain strong despite a challenging environment, with robust progress in coal MDO and InvIT asset transfers. Revenue guidance for FY 2026 is revised down, but next year is expected to see significant growth and improved margins.
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Revenue and order inflow declined year-over-year due to muted industry activity and intense competition, but profitability improved on the back of strong coal and HAM performance. Management expects order momentum to recover in H2 FY26, with InvIT listing and debt reduction plans on track.
Fiscal Year 2025
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FY 2025 saw muted order inflows and a decline in standalone revenue, but strong coal and HAM asset performance drove a 4x increase in consolidated PAT. The company expects 10%-15% consolidated revenue growth in FY 2026, continued debt reduction, and robust order inflows as government activity picks up.
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Revenue and EBITDA declined in Q3 FY25 due to muted order inflows, but nine-month EBITDA and PAT rose sharply on strong coal MDO performance and asset divestments. Debt reduction is delayed but on track, with a net cash target by FY27. Order inflows are expected to improve as government activity picks up.
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Consolidated Q2 FY 2025 results showed strong EBITDA and PAT growth despite revenue decline, driven by coal MDO and InvIT performance. Order inflow target of INR 15,000-16,000 crore is maintained, with margin guidance at 11%-12% and net debt zero goal postponed to FY 2027.
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Revenue and profitability declined year-over-year due to muted order inflow and execution delays, but a strong order pipeline and government infrastructure push support a positive outlook. Debt reduction and margin stabilization remain key priorities.