Ircon Intl. Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Construction | Market Cap: ₹11.7K Cr
Ircon expects operating revenue for FY’26 to be in the range of Rs. PAT margins are expected to be in the range of 6% to 7% going forward (Page 5). - Margins are likely to compress by about 1% due to industry competition and lower margins on new orders (Page 6-7). - The company is targeting fresh order inflows of around Rs.
From Ircon Intl.'s Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Price
₹123
Market Cap
₹11.7K Cr
P/E Ratio
22.4
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Ircon Intl. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹3.2K Cr, net profit ₹191 Cr.
Full financials →📊 Revenue & Sales Performance
- →Ircon expects operating revenue for FY’26 to be in the range of Rs. 10,000 crores to Rs. 11,000 crores.
- →For FY’27, the company maintains a similar revenue outlook of around Rs. 10,000 crores.
- →While the first half of FY'26 saw slightly lower turnover, the latter half is expected to witness higher execution and revenue pick-up.
- →The order inflow target for the full year remains around Rs. 4,000 crores per half, indicating steady project acquisitions.
- →Ircon continues to focus on domestic railway and EPC projects, roads, and has begun diversification into segments like Kavach and hydro power projects to support future growth.
- →Margins may face some pressure due to increased competition and aggressive bidding, but overall revenue growth is expected to be stable over the near term.
📈 Profitability & Margins
- →PAT margins are expected to be in the range of 6% to 7% going forward (Page 5).
- →Margins are likely to compress by about 1% due to industry competition and lower margins on new orders (Page 6-7).
- →The company is targeting fresh order inflows of around Rs. 4,000 crores in the second half similar to the first half, supporting revenue growth (Page 6-7).
- →Operating revenue for FY'26 is expected around Rs. 10,000 to 11,000 crores, with a similar level anticipated for FY'27 (Page 5).
- →International projects, contributing about 4% of turnover, have higher margins supported by favorable forex gains (Page 4-6).
- →Although quarters have been challenging, the company aims to sustain and improve performance over time (Page 3).
- →EPS for Q2 FY'26 was Rs. 1.47 per equity share, with expectations of steady earnings growth aligned with order book and execution (Page 3).
🏗️ Capital Expenditure Plans
💰 Fundraising & Capital Structure
- →There is no mention of any current or future fundraising through debt or equity in the transcript.
- →The management did not indicate plans for raising funds via equity or debt in the Q2 & H1 FY'26 earnings call.
- →Focus was primarily on order inflow, execution, margins, and operational performance.
- →No specific commentary on fresh capital infusion or fundraising strategies was provided during the Q&A or opening remarks.
📋 Order Book & Pipeline
- →As of September 30, 2025, Ircon International Limited's order book stood at Rs. 23,865 crore.
- →Approximately 63% of the order book is from competitive bidding, and the remaining from nominations.
- →Around 91% of the order book relates to domestic projects; the balance 9% is international.
- →In the first half of FY’26, the company secured fresh orders worth over Rs. 4,000 crore.
- →Similar order inflow of around Rs. 4,000 crore is targeted for the second half of FY'26.
- →The international order book constitutes about 10% of the total order book.
- →The company continues to focus primarily on railways, EPC projects, roads, and has diversified into new segments like Kavach and hydro power projects.
Key Metrics
Frequently Asked Questions
What were Ircon Intl. Q2 FY26 results?
Ircon expects operating revenue for FY’26 to be in the range of Rs. PAT margins are expected to be in the range of 6% to 7% going forward (Page 5). - Margins are likely to compress by about 1% due to industry competition and lower margins on new orders (Page 6-7). - The company is targeting fresh order inflows of around Rs.
What is Ircon Intl. share price analysis?
Ircon Intl. currently shows a neutral. The stock trades at a P/E of 22.4 with a market cap of ₹11,730 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ircon Intl. planning capital expenditure?
The transcript does not explicitly mention any current or future capex or capital investment plans by Ircon International Limited.
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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.