Financial Performance Highlights (H1 FY27 YoY)

Profit and Loss Statement

  • Revenue: ₹356.4 crore, up 45.2% YoY
  • EBITDA (adjusted): ₹36 crore, up 48% YoY
  • EBITDA margin: 10.2%, improved by 22 bps YoY
  • PAT: ₹26.0 crore, up 55.1% YoY
  • PAT margin: 7.3% (vs 6.8% previous)
  • Finance costs (excluding LC charges): ₹1.1 crore, declined by 30.2% YoY
  • LC commission charge: ₹0.59 crore (adjusted from EBITDA)

Balance Sheet and Cash Flow

  • Capital expenditure: ~₹15 crore during H1 FY27
  • Net Working Capital: ₹1 crore
  • Cash and equivalents: ₹172 crore (includes Cash, Bank Balance, Investment and Fixed Deposit)
  • Total Debt: ₹9 crore
  • Net Worth: ₹280 crore
  • Operating cash flow: 1.6x of PAT
  • Core ROCE: 31% (calculated on adjusted EBITDA, not annualized)

Order Book and Business Development

  • Current Order Book: ~₹2375 crore (almost double from ₹1291 crore as on March 31, 2026)
  • Unexecuted order book: ~3.6x FY26 revenue
  • New orders secured during FY27: ~₹1480+ crore
  • Orders received in October 2026: ~₹1000+ crore

Strategic Highlights and New Order Wins

Sector Diversification

  • Steel Segment: Secured two orders from Lloyds and JSW Steel, marking entry into steel infrastructure segment
  • Logistics Segment: Maiden order from Adani Group for large-scale logistics facilities

Business Model Transition

  • Transition from civil construction to integrated EPC player
  • Secured two integrated EPC contracts from Adani Group in Cement segment
  • Expanded scope includes mechanical works, commissioning of plant & equipment, structural fabrication and erection, electrification, instrumentation and fire-fighting works
  • Project size increased from ~₹100 crore to ₹300-400 crore (3-4x growth)
  • Terms of trade remain unchanged, limiting incremental working capital requirements

Geographical Expansion

  • First-ever project in Assam, expanding operating footprint to 14 states

Client Relationships

  • Engagements with Adani Group, UltraTech, JSW Steel, Lloyds, and JK Lakshmi

Management Commentary

Mr. P.D. Goel, Chairman and Managing Director, stated: \"H1 FY27 marked a period of strong business growth for GCCL, with revenue growing by 45.2% YoY to ₹356.4 crore while maintaining EBITDA margins at 10.2%. The Company secured multiple orders across Cement, Steel and Logistics, expanding its sectoral presence and geographical footprint to 14 states. A key milestone has been our transition from conventional civil construction to integrated EPC execution, enhancing our ability to undertake larger and more comprehensive industrial projects.\"

Business Outlook

  • India's sustained industrial capex cycle presents significant opportunities
  • Focus on expanding presence across industrial segments
  • Leveraging integrated EPC capabilities across Cement, Power, Steel and other industrial sectors
  • Strengthening technical expertise and project management capabilities
  • Maintain focus on timely execution, cost control and efficient resource utilization

Company Background

  • Specialized contractor with 25+ years experience in industrial plants and infrastructure
  • Primary focus: Cement Plants, Power Plants, Dairy Plants and other industrial plants
  • Completed 100 projects across 14 states