Ircon International Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 28 May 2026 | Construction | Market Cap: ₹11.7K Cr
For FY27, Ircon plans to maintain revenue levels similar to FY26, around Rs. FY27 revenue expected to be similar to FY26 (~Rs.9,000 crores) due to order book spread over multiple years and limited new major orders yet.
From Ircon International Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹125
Market Cap
₹11.7K Cr
P/E Ratio
22.4
Revenue Rank
Margin Rank
How does Ircon International Ltd rank in Construction?
Compare Ircon International Ltd against every Construction company this quarter on revenue, margins and earnings-call signals.
Ircon International Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹3.2K Cr, net profit ₹191 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 4- →For FY27, Ircon plans to maintain revenue levels similar to FY26, around Rs. 9,000 crores, based on the current order book, which is approximately double the annual revenue.
- →Revenue growth is constrained by existing order execution timelines, with many projects spanning 2.5 to 3 years.
- →New major order wins at the start of FY27 could improve revenue, but no significant increase is currently projected.
- →The company has submitted bids worth Rs. 48,000 crores (107 bids) mainly in railway, highway, and bridge sectors, with many still under evaluation, indicating potential future order inflows.
- →Despite global and regional challenges (e.g., Gulf crisis), management remains optimistic about infrastructure growth supported by government focus.
- →International order inflows have been slower due to geopolitical issues, but ongoing projects in Algeria, Myanmar, Nepal, etc., are progressing.
- →Overall, short to mid-term revenue growth is expected to be steady rather than exponential.
📈 Profitability & Margins
Rank 3- →FY27 revenue expected to be similar to FY26 (~Rs.9,000 crores) due to order book spread over multiple years and limited new major orders yet.
- →Core EBITDA margin at standalone level likely to remain around 4% to 4.5% because of high competition and low-margin projects.
- →Consolidated core EBITDA margin expected around 9% due to contributions from higher-margin PPP projects in subsidiaries and JVs.
- →PAT margin anticipated to be steady at approximately 6.1% to 6.3% on consolidated basis.
- →EPS for FY26 was Rs.6.33; no explicit guidance on EPS for FY27, but stable PAT margins indicate likely similar or modest growth.
- →Investment plans include Rs.400-500 crores in SPVs and Rs.50-60 crores CAPEX, supporting medium-term growth.
- →JV profitability is improving with losses reducing and break-even expected in next two years, contributing positively to earnings.
🏗️ Capital Expenditure Plans
Yes💰 Fundraising & Capital Structure
Yes- →The company has taken a working capital demand loan (WCDL) of Rs.103 crores for specific project-related working capital requirements, mainly due to delays in receivables. About 50% of this loan has already been repaid, and the balance is expected to be cleared soon.
- →For FY27, there is no expectation of significantly higher working capital loans; it will depend on client payments and project-specific needs.
- →Regarding investments, Ircon has already invested about Rs.3,000 crores in subsidiaries and JVs, with plans for an additional Rs.700-800 crores, mainly in PPP projects during FY27.
- →CAPEX plans include around Rs.50-60 crores for routine capital expenditure and machinery purchases.
- →No explicit mention of new fundraising through fresh debt or equity has been made, indicating reliance on internal accruals and project financing for existing and upcoming commitments.
📋 Order Book & Pipeline
No- →Current order book as of March 31, 2026: Rs. 24,984 crores.
- →Order book composition: 54% competitive bidding, 46% nomination basis.
- →Domestic orders constitute 92%, international 8%.
- →Order book duration: projects lasting 2.5 to 3 years.
- →New bids submitted in FY26: 107 bids worth Rs. 48,000 crores, many still under evaluation.
- →Order book has increased compared to previous year (FY25).
- →Future order prospects positive with large projects coming up, including Dedicated Freight Corridor.
- →Order book expected to support similar revenue levels (~Rs. 9,000 crores) in FY27.
- →Some orders have price variation clauses; nomination orders largely on cost-plus basis.
- →Scope changes have led to order book size fluctuations rather than entirely new orders.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Ircon International Ltd Q4 FY26 results?
For FY27, Ircon plans to maintain revenue levels similar to FY26, around Rs. FY27 revenue expected to be similar to FY26 (~Rs.9,000 crores) due to order book spread over multiple years and limited new major orders yet.
What is Ircon International Ltd share price analysis?
Ircon International Ltd currently shows a neutral. The stock trades at a P/E of 22.4 with a market cap of ₹11,737 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ircon International Ltd planning capital expenditure?
Ircon International plans capital expenditure of around Rs.
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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.