Ircon Shares Fall Almost 2% as Q2 FY26 Profit Declines 33.7%, Revenue Down 19.2%

New Delhi, November 13, 2025: The share price of Ircon International Ltd (NSE: IRCON, BSE: 541956) dipped almost 2% early trade on Thursday. The fall came as the company announced a considerable drop of 33.7% in its consolidated financial performance for the quarter ended September 2025.

Quarterly Financial Performance

The infrastructure giant, Ircon International Ltd, saw its consolidated revenue from operations fall 19.2% year-on-year (YoY) to ₹1,976.8 crore in Q2 FY26, down from ₹2,447.5 crore in the same quarter last year. Profit after tax (PAT) also slipped sharply by 33.7% to ₹136.5 crore, compared to ₹205.9 crore in Q2 FY25.

EBITDA declined from ₹342.8 crore to ₹297 crore, while profit before tax (PBT) dropped to ₹172.5 crore from ₹262.3 crore a year ago. The revenue decline was primarily driven by slower project execution and narrower margins across the company’s key segments.

Stock Market Reaction

As of 10:37 am IST, the stock was trading 1.86% lower at ₹163.20; the shares were under continuous selling pressure. While the total sell quantity was 5.41 lakh shares, the buy quantity was 3.54 lakh shares; the overall outlook towards the stock was bearish.

Order Book and Outlook

Despite short-term margin pressures, Ircon remains committed to maintaining a strong project pipeline. The total order book of the company as of September 30, 2025, was ₹23,865 crore, out of which ₹17,952 crore was from railway projects, ₹4,605 crore from highway contracts, and ₹1,308 crore from the development of the other infrastructure sector.

The management expressed the view that they remain optimistic about growth in the medium-term and mentioned Infrastructure initiatives funded by the Government, like PM Gati Shakti, Bharatmala, and Sagarmala, as the main reasons that will lead to a steady inflow of projects in transportation and logistics connectivity.

Ircon International Ltd is a public sector enterprise (Navratna) under the Ministry of Railways. The company is engaged in engineering and construction on a turnkey basis in the fields of railways, highways, bridges, and large-scale civil infrastructure. Ircon is listed on both NSE and BSE and is included in the Nifty Smallcap 250 index. It is still one of the major players in India’s transport infrastructure ‍‌‍‍‌‍‌‍‍‌program.

REF: https://nsearchives.nseindia.com/corporate/IRCON_12112025184642_STXIntimationPressRelease.pdf

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