Ircon International Limited has announced the appointment of Shri M. Ravi Sankar Chowdary as Project Director/Chhattisgarh.
This appointment was approved by the Board of Directors upon the recommendation of the Nomination and Remuneration Committee.
Shri M. Ravi Sankar Chowdary will be part of the Senior Management Personnel of the Company, effective from 10th June, 2025, which is his date of joining.
He is an IRSE Officer with a cumulative experience of 29 years in the railway sector.
His experience includes handling new line, gauge conversion, and doubling projects in South East Central Railway and South Eastern Railway.
He also has experience in maintenance of Rajdhani track and track machines, commissioning of yards, new stations, Amrit Bharat stations, and major development of Kota station, as well as construction of RoBs, RUBs, and LHs.
Ircon International Limited responded to a letter from the National Stock Exchange of India (NSE) regarding an increase in the trading volume of its shares.
The company stated that it consistently informs the stock exchanges about any events, announcements, or information that could impact the share price or trading volume.
Ircon clarified that there is currently no specific information or announcement related to the company's operations that would explain the recent price behavior of its stock.
Ircon International Limited has received a Letter of Acceptance (LOA) from East Central Railway, Indian Railway, for a significant Engineering, Procurement and Construction (EPC) project.
The project involves the construction of a new BG Rail Bridge across the River Ganga between Bikramshila and Katareah Stations on a new railway line.
The bridge will consist of (2x32.086m Open Web Steel Girder + 33x122.0 m Open Web Steel Girder) with Sub-structure of Double line Track and Superstructure of Single line Track.
The contract is valued at ₹1,068.34 Crore (Rupees One Thousand And Sixty-Eight Crore Thirty-Four Lakh Ninety-Two Thousand Eight Hundred And Thirty).
The project is to be executed within 1460 days.
The order was awarded by a domestic entity, East Central Railway.
National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) have levied a fine of ₹14,04,200 each (including GST) on Ircon International Limited (IRCON).
The fines were imposed via letters/emails dated 29th May, 2025, for non-compliance with Regulations 17(1)/2(A), 18(1), 19(1)/(2), 20(2)/(2A), and 21(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The non-compliance pertains to the composition of the Board and its committees for the quarter ended 31st March, 2025.
IRCON clarified to NSE and BSE on 30th May, 2025, that as a government company, the President of India, through the Ministry of Railways (MoR), holds the power to appoint directors, including independent directors. IRCON has no role in these appointments unless nominated by the Government of India.
The company has consistently requested the Ministry of Railways for the appointment of the requisite number of directors.
IRCON stated that the imposed fine has no impact on its financial, operational, or other activities, but it has been identified as a "contingent liability" in its financial statements.
The company expects to be eligible for a waiver of these fines upon achieving compliance with the regulations, as has happened in previous instances of non-compliance after the required compliances were met.
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.