Ircon International Q2 FY26 results (Jul–Sep 2025) and concall

Construction · Concall AI · Call held 13 Nov 2025

Company page: Ircon International share price, financials & guidance record

Ircon faced a challenging Q2 with margin compression due to aggressive bidding and losses in specific joint ventures like CERL. However, the company maintains a strong order book of nearly ₹24,000 crore and is diversifying into safety systems and hydro power to counter stiff competition in traditional EPC. Management remains confident in achieving ₹10,000+ crore revenue for the full year with stable PAT margins.

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What they filed

Q2 FY26: revenue down 19.2%, net profit down 33.5% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	2,448	2,613	3,412	1,786	1,977 −19%
Expenses	2,247	2,481	3,158	1,586	1,836
EBITDA	201	132	254	200	141 −30%
Margin	8%	5%	7%	11%	7%
Other income	142	86	103	124	156
Interest	53	56	62	75	85
Depreciation	28	31	32	37	40
Profit before tax	262	132	263	212	172 −34%
Tax rate	22%	35%	19%	22%	21%
Net profit	206	86	212	164	137 −33%
EPS	2.19	0.92	2.24	1.75	1.47

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.

What they filed

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