IRCON International Ltd

Appointment of Independent Director

• Appointment of Smt. Suman Bala as Independent (Part-Time) Director, effective 17 August 2026.
• Term: three years or until further orders.
• Profile: 50-year-old Commerce graduate; former Mayor of Faridabad.
• Not related to any other Company director.
• Not debarred from holding director position by SEBI.
• Board approved appointment; registration in IICA Data Bank.
• Reason: appointment enhances board governance.

Independent director appointment

• Independent director appointed: Smt. Suman Bala named Non-official Director for three years, effective immediately.
• Term is three years, or until further orders, whichever is earlier.
• Appointment is by Government of India, Ministry of Railways; order dated 13 August 2026.
• Company to complete appointment formalities under Companies Act 2013 and SEBI LODR; disclosures to follow.
• Board governance: Adds independent director to IRCON board.
• Status: appointment subject to formalities completion.
• Order from Railway Board dated 13 August 2026 enclosed.

Consolidated Highlights (YoY)

• Total income: Rs 2042.7 crore, up from Rs 1892.4 crore in Q1FY26.
• Revenue from operations: Rs 1955.8 crore, up from Rs 1786.3 crore.
• EBITDA: Rs 278.7 crore; EBITDA margin 13.6%.
• Profit before tax: Rs 126.8 crore, vs Rs 211.5 crore.
• Profit after tax: Rs 92.0 crore, vs Rs 164.1 crore.
• EPS (not annualized): Rs 0.99 per equity share.

Consolidated Highlights (QoQ)

• Total income: Rs 2042.7 crore, down from Rs 3291.2 crore in Q4FY26.
• Revenue from operations: Rs 1955.8 crore, down from Rs 3189.0 crore.
• EBITDA: Rs 278.7 crore; margin 13.6%, vs Rs 389.2 crore in Q4FY26.
• Profit before tax: Rs 126.8 crore, vs Rs 247.8 crore.
• Profit after tax: Rs 92.0 crore, vs Rs 191.5 crore.
• EPS: Rs 0.99 per share.

Standalone Performance

• Standalone total income: Rs 1926.5 crore in Q1FY27.
• Standalone revenue from operations: Rs 1800.3 crore.
• Standalone EBITDA: Rs 221.8 crore.
• Standalone PBT: Rs 203.5 crore.
• Standalone PAT: Rs 163.5 crore.
• Standalone EPS: Rs 1.74.

Order Book

• Total order book as of 30.06.2026: Rs 23,366 crore.
• Railways order book: Rs 17,989 crore.
• Highways order book: Rs 3,747 crore.
• Others order book: Rs 1,630 crore.

Outlook & Strategic Focus

• Industry outlook: infrastructure growth supported by government and private participation.
• Budget 2026 CAPEX: Rs 12.2 lakh crore; seven high-speed rail corridors proposed.
• Company positioned to leverage opportunities and sustain growth.

Business Overview

• Navratna CPSE under Ministry of Railways; major EPC contractor for rail, roads, bridges.
• Diversified infra contractor with international projects and group subsidiaries/JVs.

Operational Highlights

• Order book ₹23,366 cr as of 30 Jun 2026; 55% via competitive bidding.
• Q1FY27 consolidated revenue ₹1,955.8 cr; EBITDA ₹278.7 cr; PAT ₹92.0 cr.
• Standalone Q1FY27 revenue ₹1,800.3 cr; EBITDA ₹221.8 cr; PAT ₹163.5 cr.
• FY26 consolidated revenue ₹9,071.1 cr; EBITDA ₹1,279.3 cr; PAT ₹591.9 cr.
• Standalone FY26 revenue ₹8,478.9 cr; PAT ₹618.5 cr; EPS ₹6.58.

Financial Performance

• Consolidated Q1FY27 revenue up 9.5% YoY to ₹1,955.8 cr.
• Core EBITDA margin 9.8%; EBITDA margin 13.6%; PAT ₹92.0 cr.
• FY26 EBITDA margin 13.5%; PAT margin 6.2%; total comprehensive income ₹596.1 cr.
• FY26 total assets ₹21,307 cr; equity ₹6,671 cr; liabilities ₹14,636 cr.

Capital Structure & Liquidity

• FY26 consolidated liabilities ₹14,636 cr; non-current ₹7,485 cr.
• Finance cost risen to ₹350.1 cr in FY26 from ₹219.1 cr prior.

Strategic Priorities & Outlook

• Government infra capex push and policies uplift IRCON’s order intake and growth prospects.
• Policy levers: National Infrastructure Pipeline, Gati Shakti, rail and highways outlays.
• Aim to expand international footprint via subsidiaries/JVs.
• Leverage 55% bid mix to maintain a healthy order book.

Risks & Mitigation

• Exposure to government capex cycle and policy shifts.
• Margin volatility due to competitive bidding and cost inflation.

Governance & Leadership

• Leadership: Shri Saleem Ahmad (CMD), Ragini Advani (Director Finance), Ajit Kumar Mishra (Director Works), Rajesh Naik (Director Projects).
• Navratna status under Ministry of Railways highlights governance and funding flexibility.

Board actions

• Board approved unaudited standalone and consolidated Q1 FY2026 results, with Annexure-A and audit committee review.
• Standalone Q1 2026 revenue ₹1,800.27 crore; net profit after tax ₹163.52 crore; EPS ₹1.74.
• Consolidated Q1 2026 revenue ₹1,955.83 crore; net profit after tax ₹164.10 crore; EPS ₹1.75.
• M/s Bandyopadhyaya Bhaumik & Co. re-appointed Cost Auditor for FY 2026-27; appointment dated 12 August 2026.
• ISTPL and IRSDC to be liquidated; IRCON does not foresee impairment in investments.
• ISTPL toll rights ceased on 14 May 2026; assets handed over to NHAI.
• IRCON's 50% share in ISTPL valued at ₹108.09 cr; no impairment expected.
• Phase I Angul-Balram 14 km operational; Phase II Balram-Putgadia-Tentuloi 54 km under construction; handover to MoR.

Financial results

• Unaudited standalone and consolidated quarterly results approved for quarter ended 30 June 2026.
• Results reviewed by Audit Committee and approved by Board.
• Annexure-A attached with the unaudited results and auditors' limited review.

Cost auditor

• Re-appointed M/s Bandyopadhyaya Bhaumik & Co. as Cost Auditor for FY 2026-27.

Auditor emphasis

• Emphasis of Matter: ISTPL and IRSDC liquidation basis; no impairment expected.

Senior Management Appointments

• Appointed as ED/Electrical; effective 7 Aug 2026; Rs 1.50–3.00 lakh (IDA).
• Electrical engineer with 30+ years in railway electrification and infra projects.
• Joined IRCON on deputation in 2021; absorbed on 15 Apr 2026.
• Projects include railways, metro, EHT substations, transmission lines, solar.
• Has handled corporate functions including bidding, financial planning, HR, risk management.
• Appointed as ED/S&T; effective 7 Aug 2026; Rs 1.50–3.00 lakh (IDA).
• IRSSE Officer (1988 batch) with 35+ years in Indian Railways and CPSEs.
• Led S&T projects including USBRL, Moradabad EI; permanent IRCON absorption since Nov 2021.
• B.E.(ECE); M.Tech; MBA; IIT Chennai; authored technical books.
• Associated with ITU Study Groups on Telecom Development.
• Disclosure of relationships between directors: Not Applicable.
• Both will be part of Senior Management; no board/committee changes mentioned.

Dematerialisation status

• No valid physical share certificates were received for dematerialisation during the quarter ended 30 June 2026.
• No dematerialisation/rematerialisation requests were received during the period.