India · Delayed Price · Currency is INR Ircon International Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 revenue declined to INR 9,502 crore with PAT at INR 592 crore, but core EBITDA margin improved to 9.35%. Order book remains strong at INR 24,984 crore, and management expects stable revenue and margins for FY 2027 despite sectoral challenges.
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Revenue for Q2 FY26 was INR 2,112 crore with PAT at INR 137 crore, while margins declined due to competitive bidding and JV losses. International projects contributed significant forex gains, and the order book remains robust at INR 23,865 crore.
Fiscal Year 2025
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FY25 saw subdued operational performance due to one-off losses and intense competition, with revenue at INR 11,131 crore and PAT at INR 728 crore. The order book remains strong at INR 20,347 crore, and new verticals like KAVACH and signaling diagnostics are expected to drive future growth despite margin pressures.
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Q3 FY25 saw subdued results due to project completions and one-off provisions, with revenue at INR 2,613 crore and PAT flat year-over-year. Margin pressure is expected to persist through FY26 amid intense competition and limited order inflows, with guidance for lower PAT and EBITDA margins.
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Q1 FY25 saw a 20% PAT increase and stable margins, but revenue was flat due to project completions and external factors. Order inflow guidance is INR 10,000-12,000 crore for FY25, with a strong focus on both railways and roads, and asset monetization initiatives are progressing.