IRCON International Ltd.
IRCONIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
15 transcript(s)/analyst meet(s) served; 3 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 15 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20211122 | 2021-09-30 | yes | |
| TRANSCRIPT | 20220602 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220812 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221117 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230531 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230814 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231114 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240215 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240529 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240813 | 2024-06-30 | yes | |
| DUPLICATE | 20240813 | 2024-06-30 | no | |
| TRANSCRIPT | 20250217 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250527 | 2025-03-31 | yes | |
| TRANSCRIPT | 20251117 | 2025-09-30 | yes | |
| DUPLICATE | 20251117 | 2025-09-30 | no | |
| TRANSCRIPT | 20260526 | 2026-03-31 | yes | |
| DUPLICATE | 20260526 | 2026-03-31 | no |
IRCON
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 106.60 |
| 52-week range | 106.6 – 182.6 |
| Return 1M | -13.58% |
| Return 3M | -20.54% |
| Return 1Y | -39.06% |
| Return 3Y | -25.69% |
| Return 5Y | 132.75% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,956.00 |
| Other income | 87.00 |
| Total income | 2,043.00 |
| Cost of materials consumed | 62.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 67.00 |
| Finance costs | 107.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.65 | 0.00 |
| institutions foreign | 0.05 | -0.00 |
| institutions domestic | 0.02 | 0.00 |
| mutual funds | 0.00 | 0.00 |
| public | 0.35 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| DUPLICATE | 2026-03-31 | 3 |
| TRANSCRIPT | 2026-03-31 | 15 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,239.00 | 2,347.00 | 3,781.00 | 2,717.00 | 2,987.00 | 2,884.00 | 3,743.00 | 2,287.00 | 2,299.00 | 2,613.00 | 3,412.00 | 1,786.00 | 1,977.00 | 2,119.00 | 3,189.00 | 1,956.00 |
| Other income | 67.00 | 75.00 | 173.00 | 111.00 | 150.00 | 128.00 | 151.00 | 98.00 | 156.00 | 79.00 | 103.00 | 106.00 | 135.00 | 87.00 | 102.00 | 87.00 |
| Total income | 2,306.00 | 2,422.00 | 3,954.00 | 2,828.00 | 3,136.00 | 3,012.00 | 3,894.00 | 2,385.00 | 2,455.00 | 2,692.00 | 3,515.00 | 1,892.00 | 2,112.00 | 2,206.00 | 3,291.00 | 2,043.00 |
| Cost of materials consumed | 84.00 | 95.00 | 142.00 | 96.00 | 171.00 | 104.00 | 163.00 | 60.00 | 160.00 | 214.00 | 235.00 | 172.00 | 214.00 | 216.00 | 225.00 | 62.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -5.00 | 49.00 | 18.00 | 7.00 | 63.00 | -128.00 | 26.00 | -0.00 | 8.00 | 27.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 72.00 | 74.00 | 78.00 | 71.00 | 87.00 | 88.00 | 81.00 | 73.00 | 70.00 | 73.00 | 56.00 | 65.00 | 64.00 | 65.00 | 66.00 | 67.00 |
| Finance costs | 31.00 | 31.00 | 33.00 | 33.00 | 37.00 | 37.00 | 41.00 | 48.00 | 2.00 | 56.00 | 62.00 | 75.00 | 85.00 | 93.00 | 97.00 | 107.00 |
| Depreciation and amortisation | 24.00 | 24.00 | 36.00 | 19.00 | 27.00 | 27.00 | 27.00 | 27.00 | 10.00 | 31.00 | 32.00 | 37.00 | 40.00 | 42.00 | 44.00 | 45.00 |
| Other expenses | 1,887.00 | 1,962.00 | 3,360.00 | 2,335.00 | 2,451.00 | 2,607.00 | 3,186.00 | 1,904.00 | 1,957.00 | 2,167.00 | 2,860.00 | 1,349.00 | 1,558.00 | 1,680.00 | 2,631.00 | 1,622.00 |
| Total expenses | 2,094.00 | 2,235.00 | 3,666.00 | 2,561.00 | 2,835.00 | 2,735.00 | 3,524.00 | 2,112.00 | 2,206.00 | 2,567.00 | 3,245.00 | 1,699.00 | 1,960.00 | 2,096.00 | 3,063.00 | 1,903.00 |
| Profit before exceptional items and tax | 212.00 | 187.00 | 287.00 | 267.00 | 301.00 | 277.00 | 370.00 | 273.00 | 249.00 | 124.00 | 270.00 | 194.00 | 152.00 | 110.00 | 228.00 | 140.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 212.00 | 187.00 | 287.00 | 267.00 | 301.00 | 277.00 | 370.00 | 273.00 | 249.00 | 124.00 | 270.00 | 194.00 | 152.00 | 110.00 | 228.00 | 140.00 |
| Current tax | 59.00 | -6.00 | 73.00 | 59.00 | 82.00 | 68.00 | 133.00 | 71.00 | 50.00 | 49.00 | 58.00 | 42.00 | 50.00 | 37.00 | 83.00 | 43.00 |
| Deferred tax | -7.00 | -6.00 | -28.00 | 16.00 | -4.00 | 1.00 | -23.00 | -13.00 | -3.00 | -3.00 | -7.00 | 5.00 | -14.00 | -2.00 | -27.00 | -8.00 |
| Tax expense | 52.00 | -12.00 | 44.00 | 76.00 | 78.00 | 69.00 | 109.00 | 58.00 | 46.00 | 46.00 | 51.00 | 47.00 | 36.00 | 35.00 | 56.00 | 35.00 |
| Profit for the period | 174.00 | 190.00 | 256.00 | 187.00 | 251.00 | 245.00 | 247.00 | 224.00 | 202.00 | 86.00 | 212.00 | 164.00 | 137.00 | 100.00 | 191.00 | 92.00 |
| Profit attributable to owners | 174.00 | 190.00 | 256.00 | 187.00 | 251.00 | 245.00 | 247.00 | 224.00 | 206.00 | 87.00 | 211.00 | 165.00 | 139.00 | 101.00 | 192.00 | 93.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | -0.00 | -0.00 | 1.00 | -0.00 | -2.00 | -1.00 | -0.00 | -1.00 |
| Other comprehensive income | 3.00 | -2.00 | 2.00 | 1.00 | 7.00 | -2.00 | -5.00 | 0.00 | -1.00 | 4.00 | 2.00 | -0.00 | 3.00 | 2.00 | -1.00 | 4.00 |
| Total comprehensive income | 177.00 | 188.00 | 258.00 | 188.00 | 257.00 | 242.00 | 241.00 | 224.00 | 201.00 | 90.00 | 214.00 | 164.00 | 140.00 | 102.00 | 191.00 | 96.00 |
| Earnings per share, basic | 1.85 | 2.02 | 2.73 | 1.99 | 2.67 | 2.60 | 2.62 | 2.38 | 2.15 | 0.92 | 2.24 | 1.75 | 1.47 | 1.07 | 2.04 | 0.99 |
| Earnings per share, diluted | 1.85 | 2.02 | 2.73 | 1.99 | 2.67 | 2.60 | 2.62 | 2.38 | 2.15 | 0.92 | 2.24 | 1.75 | 1.47 | 1.07 | 2.04 | 0.99 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,392.00 | 5,342.00 | 74.00 | 10,368.00 | 12,331.00 | 10,760.00 | 9,071.00 |
| Other income | 148.00 | 181.00 | 2.00 | 382.00 | 540.00 | 371.00 | 431.00 |
| Total income | 5,540.00 | 5,523.00 | 76.00 | 10,750.00 | 12,871.00 | 11,131.00 | 9,502.00 |
| Cost of materials consumed | 350.00 | 367.00 | 5.00 | 392.00 | 534.00 | 668.00 | 827.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 16.00 | 212.00 | -2.00 | 46.00 | -39.00 | 0.00 | 0.00 |
| Employee benefit expense | 279.00 | 247.00 | 3.00 | 284.00 | 327.00 | 276.00 | 260.00 |
| Finance costs | 28.00 | 23.00 | 1.00 | 118.00 | 148.00 | 219.00 | 350.00 |
| Depreciation and amortisation | 83.00 | 92.00 | 1.00 | 107.00 | 100.00 | 118.00 | 163.00 |
| Other expenses | 4,142.00 | 4,020.00 | 62.00 | 8,943.00 | 10,585.00 | 8,971.00 | 7,218.00 |
| Total expenses | 4,898.00 | 4,961.00 | 70.00 | 9,890.00 | 11,656.00 | 10,252.00 | 8,818.00 |
| Profit before exceptional items and tax | 642.00 | 563.00 | 6.00 | 860.00 | 1,215.00 | 879.00 | 684.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 642.00 | 563.00 | 6.00 | 860.00 | 1,215.00 | 879.00 | 684.00 |
| Current tax | 148.00 | 167.00 | 1.00 | 163.00 | 342.00 | 236.00 | 213.00 |
| Deferred tax | 38.00 | 20.00 | -0.00 | -37.00 | -10.00 | -25.00 | -38.00 |
| Tax expense | 187.00 | 186.00 | 1.00 | 126.00 | 332.00 | 211.00 | 175.00 |
| Profit for the period | 485.00 | 391.00 | 6.00 | 765.00 | 930.00 | 728.00 | 592.00 |
| Profit attributable to owners | 485.00 | — | 6.00 | 765.00 | 930.00 | 727.00 | 595.00 |
| Profit attributable to non-controlling interests | 0.00 | — | -0.00 | 0.00 | -0.00 | 0.00 | -4.00 |
| Other comprehensive income | -3.00 | -1.00 | 0.00 | 11.00 | -1.00 | 5.00 | 4.00 |
| Total comprehensive income | 482.00 | 390.00 | 6.00 | 776.00 | 929.00 | 733.00 | 596.00 |
| Earnings per share, basic | 51.60 | 4.16 | 6.30 | 8.14 | 9.88 | 7.73 | 6.33 |
| Earnings per share, diluted | 51.60 | 4.16 | 6.30 | 8.14 | 9.88 | 7.73 | 6.33 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 15,147.00 | 15,537.00 | 16,411.00 | 17,445.00 | 13,631.00 | 19,521.00 | 20,219.00 | 21,307.00 |
| Non-current assets | 4,294.00 | 4,320.00 | 4,473.00 | 5,446.00 | 3,932.00 | 8,050.00 | 8,934.00 | 9,503.00 |
| Current assets | 10,851.00 | 11,217.00 | 11,938.00 | 11,999.00 | 9,698.00 | 11,472.00 | 11,285.00 | 11,803.00 |
| Property, plant and equipment | 199.00 | 205.00 | 210.00 | 216.00 | 197.00 | 1,003.00 | 2,059.00 | 2,086.00 |
| Capital work-in-progress | 6.00 | 8.00 | 64.00 | 549.00 | 6.00 | 976.00 | 620.00 | 595.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 1,051.00 | 1,067.00 | 1,008.00 | 978.00 | 7.00 | 908.00 | 872.00 | 835.00 |
| Inventories | 287.00 | 212.00 | 136.00 | 237.00 | 296.00 | 91.00 | 114.00 | 12.00 |
| Trade receivables | 688.00 | 864.00 | 843.00 | 803.00 | 1,105.00 | 1,328.00 | 746.00 | 1,398.00 |
| Cash and cash equivalents | 1,836.00 | 2,338.00 | 3,419.00 | 2,180.00 | 1,204.00 | 2,280.00 | 2,023.00 | 2,190.00 |
| Total equity and liabilities | 15,147.00 | 15,537.00 | 16,411.00 | 17,445.00 | 13,631.00 | 19,521.00 | 20,219.00 | 21,307.00 |
| Equity | 4,935.00 | 5,225.00 | 5,558.00 | 5,906.00 | 6,028.00 | 6,362.00 | 6,491.00 | 6,671.00 |
| Equity share capital | 188.00 | 188.00 | 188.00 | 188.00 | 188.00 | 188.00 | 188.00 | 188.00 |
| Other equity | 4,746.00 | 5,023.00 | 5,355.00 | 5,683.00 | 5,840.00 | 6,138.00 | 6,270.00 | 6,451.00 |
| Total liabilities | 10,211.00 | 10,313.00 | 10,853.00 | 11,539.00 | 7,603.00 | 13,159.00 | 13,728.00 | 14,636.00 |
| Non-current liabilities | 2,214.00 | 3,047.00 | 3,393.00 | 4,416.00 | 1,811.00 | 5,933.00 | 6,824.00 | 7,485.00 |
| Current liabilities | 7,997.00 | 7,265.00 | 7,460.00 | 7,123.00 | 5,792.00 | 7,226.00 | 6,904.00 | 7,151.00 |
| Borrowings, non-current | 1,333.00 | 1,440.00 | 1,607.00 | 2,457.00 | 0.00 | 4,135.00 | 4,950.00 | 5,423.00 |
| Borrowings, current | 96.00 | 64.00 | 70.00 | 110.00 | 0.00 | 130.00 | 134.00 | 240.00 |
| Trade payables | 771.00 | 831.00 | 665.00 | 887.00 | 707.00 | 1,257.00 | 677.00 | 1,201.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 276.00 | -168.00 | 598.00 | -79.00 | -557.00 | -1,110.00 | 89.00 | -618.00 |
| Net cash from investing activities | 331.00 | 1,468.00 | 513.00 | -705.00 | 31.00 | 32.00 | -966.00 | -366.00 |
| Net cash from financing activities | -19.00 | -223.00 | -6.00 | 640.00 | -123.00 | 1,156.00 | 568.00 | 801.00 |
| Purchase of property, plant and equipment | 1.00 | 65.00 | 70.00 | 845.00 | 14.00 | 1,048.00 | 502.00 | 532.00 |
| Net increase in cash | 579.00 | 1,080.00 | 1,081.00 | -158.00 | -625.00 | 100.00 | -256.00 | -89.00 |
| con:CFO.BEFORE_TAX | 368.00 | -100.00 | 635.00 | 8.00 | -524.00 | -803.00 | 294.00 | -315.00 |
| con:INTEREST_RECEIVED.OPERATING | -85.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 6.00 | 68.00 | 37.00 | 87.00 | 33.00 | 307.00 | 206.00 | 303.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 81.00 | 81.00 | 3,074.00 | 8,509.00 | 6,632.00 | 10,304.00 | 6,653.00 | 11,775.00 |
| con:INVESTMENTS_SOLD | 82.00 | 132.00 | 2,838.00 | 8,076.00 | 6,220.00 | 10,633.00 | 6,179.00 | 11,870.00 |
| con:PPE_DISPOSALS | 2.00 | 2.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 19.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 129.00 | 166.00 | 15.00 | 64.00 | 180.00 | 64.00 | 129.00 | 189.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 73.18 | 73.18 | 73.18 | 65.17 | 65.17 | 65.17 | 65.17 | 65.17 | 65.17 | 65.17 | 0.65 | 0.65 | 0.65 | 0.65 |
| Domestic institutions | 1.87 | 0.79 | 0.36 | 0.94 | 1.32 | 2.90 | 1.64 | 1.44 | 1.57 | 1.60 | 0.02 | 0.02 | 0.02 | 0.02 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Insurance companies | 1.49 | 0.76 | 0.30 | 0.29 | 0.73 | 1.01 | 1.11 | 1.12 | 1.32 | 1.40 | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 3.99 | 5.17 | 4.01 | 4.11 | 4.58 | 4.17 | 3.94 | 4.08 | 4.11 | 4.57 | 0.05 | 0.05 | 0.05 | 0.05 |
| Government | — | — | — | — | — | — | — | — | — | 0.28 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 26.82 | 26.82 | 26.82 | 34.83 | 34.83 | 34.83 | 34.83 | 34.83 | 34.83 | 34.83 | 0.35 | 0.35 | 0.35 | 0.35 |
| Non-institutional | 20.70 | 20.59 | 22.19 | 29.52 | 28.66 | 27.50 | 28.99 | 29.02 | 28.87 | 28.37 | 0.28 | 0.28 | 0.28 | 0.28 |
| Shares outstanding | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 | 940515740 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Ministry of Railways | Contolling Entity | Advance, Any other transaction, Dividend paid, Inter | 63,058,500,000.00 | 13 |
| Chhattisgarh East-West Railway Limited | Joint Venture Companies | Advance, Any other transaction, Interest received, I | 7,716,000,000.00 | 14 |
| Jharkhand Central Railway Limited | Joint Venture Companies | Advance, Any other transaction, Investment, Sale of | 6,798,700,000.00 | 11 |
| Ircon Bhoj Morbe Expressway Limited | Subsidiary Companies | Advance, Any other transaction, Investment, Sale of | 2,726,800,000.00 | 13 |
| Ircon Akloli-Shirsad Expressway Limited | Subsidiary Companies | Any other transaction, Interest paid, Investment, Sa | 1,905,700,000.00 | 10 |
| Ircon Ludhiana Rupnagar Highway Limited | Subsidiary Companies | Advance, Any other transaction, Investment, Sale of | 1,786,500,000.00 | 12 |
| Ircon Gurgaon Rewari Highway Limited | Subsidiary Companies | Advance, Any other transaction, Interest paid, Inves | 1,235,500,000.00 | 14 |
| Ayana Renewable Power Private Limited | Joint Venture Companies | Any other transaction, Interest paid, Purchase of go | 1,161,900,000.00 | 6 |
| Ircon Haridwar Bypass Limited | Subsidiary Companies | Advance, Any other transaction, Interest paid, Inves | 1,051,200,000.00 | 14 |
| Shri Parag Verma | Key Management Personnel | Remuneration | 907,300,000.00 | 1 |
| Ircon Shivpuri Guna Tollway Limited | Subsidiary Companies | Advance, Any other transaction, Interest received, I | 810,500,000.00 | 13 |
| Rail Land Development Authority | Government Related Entities | Advance, Any other transaction, Sale of goods or ser | 697,400,000.00 | 5 |
| Smt Ragini advani | Key Management Personnel | Remuneration | 622,100,000.00 | 1 |
| Ircon-Soma Tollway Private Limited | Joint Venture Companies | Any other transaction, Dividend received, Investment | 575,400,000.00 | 4 |
| Ircon Renewable Power Limited | Subsidiary Companies | Any other transaction, Interest received, Investment | 570,200,000.00 | 11 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-05-26 | Q4FY26 | Read the call | |
| 2025-11-17 | Q2FY26 | Read the call | |
| 2025-05-27 | Q4FY25 | Read the call | |
| 2025-02-17 | Q3FY25 | Read the call | |
| 2024-08-13 | Q1FY25 | INTERNATIONAL LIMITED, IRCON INTERNATIONAL LIMITED, MR. VISHAL PERIWAL | Read the call |
| 2024-05-29 | Q4FY24 | Read the call | |
| 2024-02-15 | Q3FY24 | Read the call | |
| 2023-11-14 | Q2FY24 | Read the call | |
| 2023-08-14 | Q1FY24 | Read the call | |
| 2023-05-31 | Q4FY23 | IRCON INTERNATIONAL LIMITED, LIMITED | Read the call |
| 2023-02-13 | Q3FY23 | DIRECTOR (FINANCE), IRCON INTERNATIONAL, INTERNATIONAL LIMITED | Read the call |
| 2022-11-17 | Q2FY23 | Read the call | |
| 2022-08-12 | Q1FY23 | IRCON INTERNATIONAL LIMITED | Read the call |
| 2022-06-02 | Q4FY22 | EXECUTIVE, INTERNATIONAL | Read the call |
| 2021-11-22 | Q2FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY23 | Q3FY24 | Q3FY25 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | Now we saw the union budget also where the CAPEX for the railway and the overall CAPEX requirement has gone up significantly. | So, the main growth driver would be railway CAPEX and you have small portion in infrastructure. | For the railways, the government, he said, for the PSU allocation, CAPEX, compared to FY’25 to FY’26, they have reduced 5127 crores. | — | What would be more important as I see it from a government point of view is, if whatever are the existing orders and the existing capex that they've c… | — | — | And then there are certain CAPEX which are rolled over or there are increase in already sanctioned projects, which are taken also as a part of this li… |
| Capital allocation | What happens is that on the revenue line it gets knocked off while from the other side it could be an item after PAT if they're paying dividend for ex… | So, land acquisition must be a big challenge here. | And my second question will be any plan for any further bonus share issue or any split in the share to reward the shareholders or any high dividend pa… | As regards dividend, Board of Directors has recommended a final dividend of 0.65 paisa per equity share. | BoD has also recommended final dividend of INR1.20 per equity share on a face value of INR2 per share, thereby giving an overall dividend of INR3 per … | The Board of Directors have recommended a final dividend of rupees 1.30 per equity share, thereby bringing the overall dividend for this year to Ircon… | The Board of Directors, along with the accounts have also recommended a final dividend for Re.1 per equity share on a face value of Rs.2 per share. | Board of Directors have also recommended a final dividend of Rs.70 paisa per equity share on the face value of Rs.2 per share, subject to the approval… |
| Costs | — | But in terms of raw material is the entire thing procured or we are yet to procure it? | — | — | There could be some, which -- like, for example, the bullet train is a very prestigious project, but it has a very different technology, very differen… | — | — | — |
| Debt and cash | — | — | — | Madam, when we look at your cash flow and the tax outgo, the tax outgo for this income tax rate for this year comes was around 33 Crores? | I'm saying, Q3, Q4, we have also done execution and that would have translated into some profitability, some cash flows. | There's initially a mobilization advance, then there is an advance against material and typically we would say that as such, the working capital which… | — | So, is this banking working capital for new projects? |
| Demand | Just want to understand then how do we see the order book building up and why is it that we are not focusing on getting new orders? | The order book of the company as at 31st December 2023 stood at Rs.29,436 crores which includes 45% on nomination basis roughly and about 55% on compe… | Order book of the company as at 31st December 2024 stands at about Rs. | Our order book as at March 31, 2022 stands at Rs.43758 Crores with about Rs.3000 Crores of worth of orders being added in Q4 itself. | So, by the year-end of March FY '24, you will end up order book of around INR35,000 crores. | Order book of the company currently stands as at 31st March 2024 at rupees 27,208 crores. | This is because of completion of the major cost-plus jobs, reduced order book and someone off entries that we had to put in certain projects on accoun… | While these factors weigh on our margins as well as order book, we did manage to maintain the order book at about 2X of the annual revenue. |
| Guidance | If you could guide for FY24, what quantum of bidding are we planning in both railways and highways? | Ma’am, in the last conference call you had upgraded your guidance with respect to the revenue part to 15% over the last year which means that we'll ha… | Secondly on FY’26 What the guidance in terms of revenues and even in order inflows, you know we have been guiding that order inflows will be picking u… | You know, we expect 10% to 15% growth in our topline vis-à-vis FY2021-2022. | So one, what is the outlook for FY '24 in terms of order inflow? | My last question, are we holding your earlier guidance of 15 to 20% CAGR growth for two to three-years? | So still, why are we guiding for a lower margin for say probably FY’26? | The total requirement we anticipate is about Rs.700 to Rs.800 crores. |
| Margin | My next question is if I look at the presentation, our standalone core EBITDA margin for Q3 and even on a consolidated basis, our margins have reduced… | PAT has increased by 29% from Rs.190 crore in Q3 FY23 to Rs.245 crore in FY24 Q3 FY24. Core EBITDA has also increased to Rs.296 crore vis-a-vis Rs.169… | Core EBITDA has declined to Rs.139 crores vis-à-vis Rs.296 crores in Q3 last year. | Core EBITDA remained almost flat at Rs.213 Crores vis- à-vis Rs.218 Crores for the corresponding Q4 quarter of previous year. | But we will continue maintaining the margins of EBITDA in the range of 10% to 11%. | Last question, ma'am, what are our initiatives to increase our margin? . | The company has reported total Ircon International Limited May 22, 2025 revenue of Rs.11,131 crore in FY’25 the corresponding PAT stood at Rs.728 cror… | EBITDA margins remained in similar range, about Rs.1,279 crores in FY26 as against Rs.1,276 crores in FY25. Core EBITDA margins in percentage terms ha… |
| People | — | — | — | This is a 500 megawatt plant and the tariff, so we can share that later with you, but in terms of parameter even you can get that it is a 500 megawatt… | So that is something we have right now going to, we are in the process of hiring a consultant through which we will be taking all these clarities. | — | — | — |
| Pricing | We are continuing to also bid for the normal railway projects but we do not want to pick them up against very squeezed profit margins because typicall… | — | So ma'am is there any re-negotiation with respect to the pricing of the contracts or that has been the case? | — | Just wanted to check in your orders, will be the raw material price increase? | — | — | So, I want to know the impact of the price increase in various commodities. |
| Revenue growth | That's what I wanted to understand because we have annual top line of around 9,000 crores and the current order book is 38,000 and we are not focusing… | We don't want to increase our top line or the order book by knowing at stage 0 itself that it will be into a loss. | Coming to the second question, how should one look at the FY’25 in terms of the top line and the core EBITDA margins? | — | May 25, 2023 opportunity is so big, why can't we -- why can't Ircon target or we target to grow at much higher double-digit kind of growth on the top … | So, on a year-on-year basis, it may not be every year a growth of about 10 to 20% we do see next year depending on of Ircon International Limited May … | — | — |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2023-05-31 | Q4FY23 | IRCON INTERNATIONAL LIMITED | May 25, 2023 after considering this number of this FY '23, I feel that we should be able to do another 5% to 7% on this number. |
| 2024-08-13 | Q1FY25 | IRCON INTERNATIONAL LIMITED | And as I said, we should be getting in the range of INR 4,000 crores to INR 5,000 crores soon enough. |