India · Delayed Price · Currency is INR Ircon International Earnings Call Transcripts
Fiscal Year 2026
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Q2 FY26 revenue reached INR 2,112 crore with margins under pressure due to competitive bidding and losses in some JVs, though forex gains from international projects provided a boost. The order book remains strong at INR 23,865 crore, with full-year revenue guidance of INR 10,000-11,000 crore.
Fiscal Year 2025
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FY25 saw subdued performance due to one-off losses and intense competition, with revenue at ₹11,131 crore and PAT at ₹728 crore. Order book stands at ₹20,347 crore, and new verticals like KAVACH and signaling diagnostics are expected to drive future growth, though margins will remain under pressure.
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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.