results new orders corporate actions strategic partnerships
Ircon International held an analyst conference call on May 22, 2025, to discuss the financial results for Q4 and FY'25.
The company reported total revenue of ₹11,131 crore in FY'25, with a PAT of ₹728 crore and core EBITDA of ₹905 crore. Earning per share is at ₹7.73 per equity share in FY ’25 on a face value of ₹2 per share.
The order book as of March 31, 2025, stood at ₹20,347 crore, with 90% from domestic business.
The Board recommended a final dividend of Re.1 per equity share, bringing the total dividend for FY'25 to ₹2.65 per equity share.
One-off provisions impacted margins, including ₹108 crore for LD on a DFCC job and ₹40 crore for losses on the Chennai Metro project.
A major maintenance provision in a road SPV and operational losses in a coal connectivity project (CERL) also contributed to the impact.
The company received orders worth ₹2600 crore during FY24-25, and ₹1150 crore already by May 22 of FY25-26.
Ircon is entering new verticals like Kavach (train protection warning system), signaling diagnostics, and hydro power.
The first Kavach order is for South Western Railway (₹253 crore), and the first Kavach tower tender was won for ₹194 crore in Central Railway.
The company has bid in three Metro tenders in Mumbai and one electrical tender in UP. Around 18 bids of ₹9,200 crores are yet to be submitted shortly.
A hydro power order of around ₹453 crores was received in Arunachal Pradesh.
Management expects FY'26 turnover to be in a similar range as FY'25. Margins are expected to decline by 0.5% to 1% due to increased competition.
The company aims to monetize strategic assets, including PPP projects, after completion.
CMD, Hari Mohan Gupta mentioned that the entire country, more than a lakh kilometer of Indian Railways, is to be covered under Kavach, it's a train protection warning system so that two trains may not collide, and any driver inadvertently may not exceed the speed. It will be automatic brake application in the locomotives. So the entire country is to be covered in a huge, more than a lakh crore business is available in this sector.