IRCON International Ltd (NSE:IRCON)

Q2 2026 Ircon International Ltd Earnings Call Transcript

Nov 13, 2025 / 10:00 AM GMT

Release Date Price: ₹161.13 (-3.20%)

Transcript

Key Points

Positve

IRCON International Ltd (NSE:IRCON) reported a total revenue of INR 2,112 crore for Q2 FY26.
The company achieved a profit after tax (PAT) of INR 137 crore in Q2 FY26.
The order book stood at INR 23,865 crore as of September 30, 2025, with 91% of the projects being domestic.
The company has realized foreign exchange earnings of approximately INR 20 crore from its Bangladesh project due to favorable exchange rate differences.
IRCON International Ltd (NSE:IRCON) has secured more than INR 4,000 crore in orders in the first half of the financial year, with expectations of similar inflows in the second half.

Negative

Margins have been impacted due to losses in joint ventures and subsidiaries under construction.
The company has experienced a reduction in margins by 0.5% to 1% due to new projects being won at lower margins.
Two projects have incurred losses, contributing to lower EBITDA and PAT margins.
The CERL joint venture is currently undergoing losses and is expected to break even only in 18 to 20 months.
The competitive market environment has led to projects being quoted below estimates, impacting margins.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IRCN.NS - Ircon International Ltd
Q2 2026 Ircon International Ltd Earnings Call
Nov 13, 2025 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone and welcome to Q2 and H1F526 post-result earnings call of Icon International Limited.

I'm Bhumika, the moderator for this conference call. From the management side we have with us Shimati Ragini Adwani, director of finance, Mr. Aleen Roy Chowdhury, CGM Finance and CFO, Mr. Ram Kumar Goel, GM Finance, Mr. Sachin Garg, DGM, and Investor Relations.

Please note that this conference call is being recorded.

At this moment, all participants are in listen-only mode. Later we will conduct a question-and-answer session.

At that time, if you have a question, please press star and one on your telephone keypad.

I would like to remind you that some of the statements that

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