Hindustan Construction Company Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 8 Aug 2026 | Construction | Market Cap: ₹5.7K Cr
The company projects a strong growth starting from FY27 onwards, targeting around 20-25% CAGR in revenue (Page 14). The company projects 20-25% CAGR growth from FY27 onwards, driven by order inflow and execution ramp-up.
From Hindustan Construction Company Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹21
Market Cap
₹5.7K Cr
P/E Ratio
31.8
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Hindustan Construction Company Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹992 Cr, net profit ₹59 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company projects a strong growth starting from FY27 onwards, targeting around 20-25% CAGR in revenue (Page 14).
- →This growth will primarily come from new order intake and ramping up execution over FY27 and FY28 (Page 13).
- →Despite near-term flat turnover expected in FY26, the significant growth impact will be visible from FY27 as new projects begin contributing (Page 11, 13).
- →Order bidding pipeline is robust at ₹40,000 crores, with an expectation to secure about 25-30%, supporting future revenues (Page 9).
- →The business aims to maintain EBITDA margins in the 13-15% range during this growth phase (Page 14).
- →Gradual CAPEX ramp-up will accompany project execution growth, supporting the increase in order volume (Page 12).
📈 Profitability & Margins
- →The company projects 20-25% CAGR growth from FY27 onwards, driven by order inflow and execution ramp-up.
- →Current FY26 turnover is expected to be similar to last year, with real growth and margin improvement anticipated from FY27 onwards.
- →EBITDA margins are expected to stay in the 13-15% range, with steady margins in new projects and selective bidding in mega projects offering higher returns.
- →Profit growth is anticipated due to accelerated execution of new orders and conversion of L1 positions to awards over the next 6-12 months.
- →The firm aims to be debt-free by end of next fiscal year, improving financial strength and supporting profit growth.
- →Earnings (PAT) have been increasing despite turnover decline, indicating operational efficiency gains.
- →No specific EPS guidance mentioned but implied growth in profits with margin stability and order book expansion.
🏗️ Capital Expenditure Plans
- →Gradual increase in capex is planned as projects get executed; capex will ramp up on a project-by-project basis (Page 12).
- →Mobilization advances and equipment from new projects will contribute to incremental capex build-up (Page 12).
- →No significant jump in gross block has been observed till now; capex will increase gradually to meet new project requirements (Page 12).
- →Capital raising is planned to support growth objectives, with some part of the raised capital earmarked for funding expansion (Page 14).
- →The company is focused on remaining largely debt-free, using capital selectively and maintaining comfortable non-fund-based limits to support growth; preference to deleverage and prepay debt (Pages 14-15).
- →No major strategic investments explicitly mentioned apart from project-related capex and selective capital raising for growth (Pages 14-15, 12).
💰 Fundraising & Capital Structure
- →For the March 2026 debt repayment (~₹900 crore), the company plans a combination of:
- → - Executing core BG (Bank Guarantee) transactions to reduce debt.
- → - Utilizing cash flow from operations.
- → - Raising capital (equity) as needed.
- →They are targeting to raise around ₹700-900 crore in equity during the next quarter to support repayment and maintain a cash cushion (~₹200-300 crore).
- →For future growth FY27 onwards, some capital is being raised this year, partly to fund growth objectives.
- →EPC business bidding is expected to be capital-efficient, requiring no significant capital infusion if bids are rational.
- →Debt reduction and deleveraging remain a priority; the company prefers to avoid fund-based debt and accumulate free cash flow reserves.
- →No explicit plans for raising debt were mentioned; cost of debt currently about 11% and expected to remain stable for some time.
📋 Order Book & Pipeline
- →Current order backlog as of 30th June is approximately ₹11,188 crores to ₹11,800 crores.
- →There are additional L1 (lowest bidder) positions worth ₹6,000 crores not yet included in the order book.
- →The company expects these ₹6,000 crores orders to be signed within 30 to 45 days.
- →There is a robust bid pipeline of ₹40,000 crores, with a targeted hit ratio of 25-30%, implying potential order additions of around ₹10,000-12,000 crores.
- →The order pipeline is diversified across hydro (about 40%), urban infrastructure like metros and elevated structures (35-40%), and other sectors including water and nuclear (15-20%).
- →The company anticipates a substantial ramp-up in execution and order conversion from FY27 onwards, targeting 20-25% growth.
Key Metrics
Frequently Asked Questions
What were Hindustan Construction Company Ltd Q1 FY26 results?
The company projects a strong growth starting from FY27 onwards, targeting around 20-25% CAGR in revenue (Page 14). The company projects 20-25% CAGR growth from FY27 onwards, driven by order inflow and execution ramp-up.
What is Hindustan Construction Company Ltd share price analysis?
Hindustan Construction Company Ltd currently shows a neutral. The stock trades at a P/E of 31.8 with a market cap of ₹5,739 Cr. Investors should review the full earnings analysis for detailed insights.
Is Hindustan Construction Company Ltd planning capital expenditure?
Gradual increase in capex is planned as projects get executed; capex will ramp up on a project-by-project basis (Page 12).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.