Key Financial Figures - Standalone (₹ in Crore)
Quarter Ended June 30, 2026:
- Revenue from Operations: ₹2,727.34
- Total Income: ₹2,727.34
- Total Expenses: ₹2,670.17
- Profit Before Tax: ₹57.17
- Tax Expense: ₹20.29 (Current tax: ₹4.06, Deferred tax: ₹16.18, Prior year tax: ₹0.05)
- Profit After Tax: ₹36.88
- Other Comprehensive Income: ₹(2.12)
- Total Comprehensive Income: ₹34.76
- Basic & Diluted EPS: ₹1.00
Comparative Figures:
- Previous Quarter (Mar 31, 2026): Net Loss of ₹(63.04) crore
- Year-Ago Quarter (Jun 30, 2025): Net Profit of ₹135.73 crore
- Full Year FY26: Net Profit of ₹289.90 crore
Key Financial Figures - Consolidated (₹ in Crore)
Quarter Ended June 30, 2026:
- Revenue from Operations: ₹2,671.00
- Total Income: ₹2,726.68
- Total Expenses: ₹2,676.09
- Profit Before Tax: ₹50.59
- Tax Expense: ₹20.29
- Profit After Tax: ₹30.30
- Profit Attributable to Owners: ₹30.60
- Total Comprehensive Income: ₹25.43
- Basic & Diluted EPS: ₹0.82
Legal Contingencies and Arbitration Matters
The disclosure highlights several significant legal proceedings:
1. Transtonnelstroy Afcons Joint Venture (TTA JV) - Chennai Metro Rail Projects
- Claims totaling approximately ₹836.08 crore (₹659.87 crore in contract assets, ₹120.81 crore in trade receivables, ₹30.63 crore interest, ₹25.77 crore bank guarantee encashed)
- Variations claimed due to cost overruns from unforeseen geological conditions, delays in land handover, and scope changes
- Matters in various stages of arbitration, Madras High Court, and Supreme Court
- Management believes amounts are recoverable based on technical evaluation and legal opinion
2. Dahej Standby Jetty Project Undertaking (DJPU)
- Unfavorable arbitration award challenged in Delhi High Court
- Joint Venture has filed claims for additional costs of approximately ₹90.38 crore (₹79.28 crore other financial assets, ₹11.10 crore contract assets)
- Management believes amounts are recoverable
3. Konkan Railway Corporation Limited (KRCL) - Chenab Bridge Project
- Received favorable arbitration award of ₹243.53 crore during previous year
- Recorded revenue of ₹165.62 crore, balance adjusted from contract assets
- ₹115.00 crore shown as Contract assets - Non-current assets
- ₹250.19 crore considered as Current-trade Receivables including interest
- Claims ongoing in arbitration and High Court
Exceptional Items
- The company recognized an exceptional item of ₹76.51 crore for the year ended March 31, 2026
- This represents the incremental impact of the newly implemented Labour Codes (notified November 21, 2025) on retiral benefits
- Presented as exceptional due to material regulatory-driven and non-recurring nature
Operational Details
- The company operates in a single business segment: Engineering, Procurement and Construction (EPC)
- Maintains 18 international branches across Mauritius, Mozambique, Gabon, Zambia, Mauritania, Ghana, Bangladesh, Liberia, Tanzania, Kuwait, Maldives, Indonesia, Qatar, Ivory Coast, Oman, Abu Dhabi, Benin, and Uganda
- 14 joint operations are consolidated on proportionate basis
- Quarterly margins may vary based on nature, type and quantum of project work executed
Financial Ratios - Standalone (Quarter Ended June 30, 2026)
- Debt Equity Ratio: 0.89
- Debt Service Coverage Ratio: 1.18
- Interest Service Coverage Ratio: 2.09
- Current Ratio: 1.25
- Operating Margin: 7.95%
- Net Profit Margin: 1.38%
- Net Worth: ₹5,068.30 crore
Auditor's Qualification
- Deloitte Haskins & Sells LLP issued a review report with emphasis on the uncertainties relating to the outcome of the legal proceedings
- The auditor's conclusion is not modified regarding these matters
- 11 joint operations with revenue of ₹58.05 crore and net loss of ₹(10.28) crore were reviewed by other auditors