Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended 30th September, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results (Standalone and Consolidated)

Audit Opinion:

Clean/Unmodified Review Report - No qualifications or modifications. Statutory auditors B S R & Co. LLP issued unmodified review reports for both standalone and consolidated financial results.

Auditor's Comment: The auditors noted that certain joint operations and subsidiaries were not reviewed but were considered not material to the Group/Company. Their conclusion was not modified in respect of these matters.

Key Financial Highlights [Rs. in Crores]:

Consolidated Results:

Revenue from Operations: Q2 FY27: ₹7,004.27 (↑7% YoY from ₹6,528.57 in Q2 FY25), H1 FY27: ₹13,412.24 (↑6% YoY from ₹12,699.74)

Total Income: Q2 FY27: ₹7,048.29, H1 FY27: ₹13,533.46

Net Profit: Q2 FY27: ₹291.95 (↑20% YoY from ₹237.39), H1 FY27: ₹603.48 (↑34% YoY from ₹450.98)

EPS (Basic): Q2 FY27: ₹16.92, H1 FY27: ₹35.08

Other Equity: ₹8,456.30 as of September 30, 2026 (vs ₹7,742.39 as of March 31, 2026)

Cash and Cash Equivalents: ₹1,578.92 as of September 30, 2026 (vs ₹1,511.78 as of March 31, 2026)

Debt: Total borrowings ₹2,690.25 (Non-current ₹244.43 + Current ₹2,445.82) as of September 30, 2026

Standalone Results:

Revenue from Operations: Q2 FY27: ₹6,212.69 (↑15% YoY from ₹5,418.78), H1 FY27: ₹11,694.55 (↑12% YoY from ₹10,458.52)

Total Income: Q2 FY27: ₹6,248.06, H1 FY27: ₹11,782.33

Net Profit: Q2 FY27: ₹269.02 (↑35% YoY from ₹199.91), H1 FY27: ₹534.38 (↑33% YoY from ₹400.67)

EPS (Basic): Q2 FY27: ₹15.75, H1 FY27: ₹31.29

Other Equity: ₹8,493.97 as of September 30, 2026 (vs ₹8,180.38 as of March 31, 2026)

Cash and Cash Equivalents: ₹750.80 as of September 30, 2026 (vs ₹1,221.76 as of March 31, 2026)

Debt: Total borrowings ₹2,149.44 (Non-current ₹244.05 + Current ₹1,905.39) as of September 30, 2026

Segment-wise Performance:

Business segments: Engineering, Procurement and Construction (EPC) and Operation and Maintenance of Infrastructure Projects (Developmental Projects)

Consolidated Segment Revenue:

EPC: Q2 FY27: ₹6,946.74, H1 FY27: ₹13,292.38

Development Projects: Q2 FY27: ₹9.32, H1 FY27: ₹20.68

Others: Q2 FY27: ₹70.64, H1 FY27: ₹141.89

Consolidated Segment Results:

EPC: Q2 FY27: ₹459.57, H1 FY27: ₹898.58

Development Projects: Q2 FY27: ₹0.02, H1 FY27: (₹3.01)

Others: Q2 FY27: ₹2.68, H1 FY27: ₹28.29

Corporate Actions:

Dividend: Not specified for current period (previous year dividend paid: ₹189.50 crore for consolidated, ₹187.85 crore for standalone)

No share split, bonus issue, buyback, or capital structure change announced

Other Significant Information:

Kurukshetra Expressway Arbitration: Kurukshetra Expressway Private Limited (joint venture) terminated Concession Agreement with NHAI in 2021 due to Force Majeure. Arbitration proceedings ongoing, with Hon'ble High Court partially setting aside arbitral award. Special Leave Petition filed before Supreme Court. Management believes no provision required based on current assessment.

LMG Listing: On 25 September 2026, Linjemontage i Grästorp AB (step-down subsidiary) listed equity shares on Nasdaq Stockholm. Kalpataru Power Transmission Sweden AB divested 13,319,670 equity shares for net consideration of SEK 592 million (₹568 crore). KPTS retains 66.45% control post greenshoe option.

Exceptional Items (FY26):

  • Incremental provision of ₹29.48 crore for employee benefit obligations under new Labour Codes
  • Gain of ₹156.56 crore on disposal of Vindhyachal Expressway Private Limited (consolidated)
  • Gain of ₹188.36 crore on disposal of Vindhyachal Expressway Private Limited (standalone)
  • Impairment provision of ₹90.50 crore for goodwill and intangible assets (consolidated)
  • Impairment provision of ₹515.04 crore for investments in Estrela Reluzente Participações S.A. and Fasttel Engenharia S.A. (standalone)

Financial Ratios (Consolidated):

Debt Equity Ratio: 0.32x (vs 0.67x YoY)

Current Ratio: 1.27x

Operating Margin: 8.3% (Q2 FY27), 8.5% (H1 FY27)

Net Profit Margin: 4.2% (Q2 FY27), 4.5% (H1 FY27)

Debt Service Coverage Ratio: 4.34x (Q2 FY27), 1.66x (H1 FY27)

Interest Service Coverage Ratio: 5.63x (Q2 FY27), 5.88x (H1 FY27)

Entities Included in Consolidation:

The consolidated results include 28 entities: 1 parent company, 23 subsidiaries (including step-down subsidiaries), 1 joint venture, and 4 joint operations as listed in Annexure I.