Ircon International Q1FY27 Investor Presentation

Operating Revenue: ₹1,955.8 (vs. ₹1,786.3 in Q1FY26, +9.5%)
Core EBITDA: ₹191.8 (vs. ₹217.8 in Q1FY26, -11.9%)
Core EBITDA Margin: 9.8% (vs. 12.2% in Q1FY26, -238 bps)
EBITDA: ₹278.7 (vs. ₹323.9 in Q1FY26, -14.0%)
EBITDA Margin: 13.6% (vs. 17.1% in Q1FY26, -348 bps)
Profit Before Tax: ₹126.8 (vs. ₹211.5 in Q1FY26, -40.1%)
PBT Margin: 6.2% (vs. 11.2% in Q1FY26, -497 bps)
Profit After Tax: ₹92.0 (vs. ₹164.1 in Q1FY26, -43.9%)
PAT Margin: 4.5% (vs. 8.7% in Q1FY26, -416 bps)
EPS: ₹0.99 (vs. ₹1.75 in Q1FY26, -43.4%)

Operating Revenue: ₹1,955.8 (vs. ₹3,189.0 in Q4FY26, -38.7%)
Core EBITDA: ₹191.8 (vs. ₹286.9 in Q4FY26, -33.2%)
Core EBITDA Margin: 9.8% (vs. 9.0% in Q4FY26, +81 bps)
EBITDA: ₹278.7 (vs. ₹389.2 in Q4FY26, -28.4%)
EBITDA Margin: 13.6% (vs. 11.8% in Q4FY26, +182 bps)
Profit Before Tax: ₹126.8 (vs. ₹247.8 in Q4FY26, -48.8%)
PBT Margin: 6.2% (vs. 7.5% in Q4FY26, -132 bps)
Profit After Tax: ₹92.0 (vs. ₹191.5 in Q4FY26, -51.9%)
PAT Margin: 4.5% (vs. 5.8% in Q4FY26, -131 bps)
EPS: ₹0.99 (vs. ₹2.04 in Q4FY26, -51.5%)

Operating Revenue: ₹9,071.1 (vs. ₹10,759.6 in FY25, -15.7%)
Core EBITDA: ₹848.4 (vs. ₹904.6 in FY25, -6.2%)
Core EBITDA Margin: 9.4% (vs. 8.4% in FY25, +94 bps)
EBITDA: ₹1,279.3 (vs. ₹1,276.0 in FY25, +0.3%)
EBITDA Margin: 13.5% (vs. 11.5% in FY25, +200 bps)
Profit Before Tax: ₹766.5 (vs. ₹939.0 in FY25, -18.4%)
PBT Margin: 8.1% (vs. 8.4% in FY25, +37 bps)
Profit After Tax: ₹591.9 (vs. ₹727.8 in FY25, -18.7%)
PAT Margin: 6.2% (vs. 6.5% in FY25, +31 bps)
EPS: ₹6.33 (vs. ₹7.73 in FY25, -18.1%)

Operating Revenue: ₹1,800.3 (vs. ₹1,664.2 in Q1FY26, +8.2%)
Core EBITDA: ₹95.5 (vs. ₹102.6 in Q1FY26, -6.9%)
Core EBITDA Margin: 5.3% (vs. 6.2% in Q1FY26, -86 bps)
EBITDA: ₹221.8 (vs. ₹209.8 in Q1FY26, +5.7%)
EBITDA Margin: 11.5% (vs. 11.8% in Q1FY26, -33 bps)
Profit Before Tax: ₹203.5 (vs. ₹194.6 in Q1FY26, +4.6%)
PBT Margin: 10.6% (vs. 11.0% in Q1FY26, -42 bps)
Profit After Tax: ₹163.5 (vs. ₹150.6 in Q1FY26, +8.6%)
PAT Margin: 8.5% (vs. 8.5% in Q1FY26, -1 bps)
EPS: ₹1.74 (vs. ₹1.60 in Q1FY26, +8.7%)

Operating Revenue: ₹1,800.3 (vs. ₹2,997.8 in Q4FY26, -39.9%)
Core EBITDA: ₹95.5 (vs. ₹131.4 in Q4FY26, -27.3%)
Core EBITDA Margin: 5.3% (vs. 4.4% in Q4FY26, +93 bps)
EBITDA: ₹221.8 (vs. ₹259.9 in Q4FY26, -14.7%)
EBITDA Margin: 11.5% (vs. 8.3% in Q4FY26, +320 bps)
Profit Before Tax: ₹203.5 (vs. ₹245.7 in Q4FY26, -17.2%)
PBT Margin: 10.6% (vs. 7.9% in Q4FY26, +270 bps)
Profit After Tax: ₹163.5 (vs. ₹192.0 in Q4FY26, -14.8%)
PAT Margin: 8.5% (vs. 6.1% in Q4FY26, +235 bps)
EPS: ₹1.74 (vs. ₹2.04 in Q4FY26, -14.7%)

Operating Revenue: ₹8,478.9 (vs. ₹10,193.1 in FY25, -16.8%)
Core EBITDA: ₹352.8 (vs. ₹479.2 in FY25, -26.4%)
Core EBITDA Margin: 4.2% (vs. 4.7% in FY25, -54 bps)
EBITDA: ₹852.6 (vs. ₹963.5 in FY25, -11.5%)
EBITDA Margin: 9.5% (vs. 9.0% in FY25, +48 bps)
Profit Before Tax: ₹797.9 (vs. ₹917.8 in FY25, -13.1%)
PBT Margin: 8.9% (vs. 8.6% in FY25, +29 bps)
Profit After Tax: ₹618.5 (vs. ₹737.6 in FY25, -16.2%)
PAT Margin: 6.9% (vs. 6.9% in FY25, -2 bps)
EPS: ₹6.58 (vs. ₹7.84 in FY25, -16.2%)

Total Assets: ₹21,307 (vs. ₹19,464 in FY25)
Non-Current Assets: ₹9,503 (vs. ₹8,250 in FY25)
Current Assets: ₹11,804 (vs. ₹11,214 in FY25)
Total Equity and Liabilities: ₹21,307 (vs. ₹19,464 in FY25)
Equity: ₹6,671 (vs. ₹6,304 in FY25)
Equity Share Capital: ₹188 (unchanged)
Other Equity: ₹6,451 (vs. ₹6,080 in FY25)
Liabilities: ₹14,636 (vs. ₹13,159 in FY25)
Non-Current Liabilities: ₹7,485 (vs. ₹5,933 in FY25)
Current Liabilities: ₹7,151 (vs. ₹7,227 in FY25)

Total Assets: ₹15,191 (vs. ₹14,501 in FY25)
Non-Current Assets: ₹4,314 (vs. ₹3,941 in FY25)
Current Assets: ₹10,877 (vs. ₹10,560 in FY25)
Total Equity and Liabilities: ₹15,191 (vs. ₹14,501 in FY25)
Equity: ₹6,630 (vs. ₹6,237 in FY25)
Equity Share Capital: ₹188 (unchanged)
Other Equity: ₹6,442 (vs. ₹6,049 in FY25)
Liabilities: ₹8,561 (vs. ₹8,264 in FY25)
Non-Current Liabilities: ₹1,790 (vs. ₹1,631 in FY25)
Current Liabilities: ₹6,770 (vs. ₹6,632 in FY25)

Shri Saleem Ahmad: Chairman & Managing Director (Additional Charge), Civil Engineering from Jamia Millia Islamia University, over 35 years experience in infrastructure projects, currently CMD of Rail Vikas Nigam Limited
Smt. Ragini Advani: Director (Finance), Chartered Accountant and Cost Accountant with over 25 years experience in corporate finance
Shri Ajit Kumar Mishra: Director (Works), B.Tech in Civil Engineering, LLM in International Dispute Resolution, MBA in International Business, over 25 years experience in project management
Shri Rajesh Naik: Director (Projects), Bachelor's degree in Civil Engineering, over 32 years experience including 12 years international experience

The presentation highlights significant infrastructure opportunities:

Massive government CAPEX push with allocation of ₹12.2 lakh crore in Union Budget 2026
Government initiatives including National Logistic Policy, Logistic Parks, and Unified Logistics Interface Platform
Development of 100 PM Gati Shakti Cargo Terminal for multimodal logistics
National Rail Plan requiring investment of ₹35.3 trillion (US$545.26 billion) by 2032 for capacity addition and modernization
Indian Railways target to install 30 GW of renewable power capacity by 2029-30
Highways sector allocation of ₹3.10 lakh crore in Union Budget
Development of 8 National High Speed Corridor projects (936 km) at cost of ₹50,655 crore