Conference Call with Afcons Infrastructure Management and Analysts on Q4FY26 & FY26 Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Afcons Infrastructure announced Q4FY26 & FY26 results Consolidated Financial Highlights Total Income: For Q4FY26, total income stood at Rs 2,776.66 crore, representing a QoQ decrease of 8.22% from Rs 3,025.46 crore in Q3FY26 and a YoY decrease of 18.03% from Rs 3,387.45 crore in Q4FY25. For the full year FY26, total income was Rs 12,322.10 crore, down 5.38% from Rs 13,022.77 crore in FY25. Revenue from Operations: In Q4FY26, revenue was Rs 2,613.84 crore, down 12.16% QoQ from Rs 2,975.77 crore and down 18.91% YoY from Rs 3,223.27 crore. For FY26, annual revenue was Rs 11,948.38 crore, a decline of 4.78% compared to Rs 12,548.42 crore in FY25. Profit Before Tax: The company reported a loss before tax of Rs 68.87 crore in Q4FY26, as against a profit of Rs 123.04 crore in Q3FY26 and Rs 184.05 crore in Q4FY25. Annual profit before tax for FY26 stood at Rs 386.79 crore, a decrease of 45.52% from Rs 710.01 crore in FY25. Net Profit: For Q4FY26, the company reported a net loss of Rs 88.55 crore, compared to a profit of Rs 96.81 crore in Q3FY26 and Rs 110.92 crore in Q4FY25. Annual net profit for FY26 was Rs 250.74 crore, down 48.49% from Rs 486.79 crore in FY25. EBITDA: Annual EBITDA for FY26 stood at Rs 1,438.77 crore, compared to Rs 1,661.80 crore in FY25. Standalone Financial Highlights Total Income: For Q4FY26, total income was Rs 2,780.64 crore, down 7.90% QoQ from Rs 3,019.04 crore and down 17.72% YoY from Rs 3,379.66 crore. For FY26, total income was Rs 12,308.38 crore, a decrease of 5.08% from Rs 12,966.66 crore in FY25. Revenue from Operations: Revenue for Q4FY26 stood at Rs 2,613.62 crore, down 12.11% QoQ from Rs 2,973.74 crore and down 18.79% YoY from Rs 3,218.56 crore. For FY26, annual revenue was Rs 11,938.32 crore, down 4.49% from Rs 12,499.93 crore in FY25. Net Profit: The standalone net loss for Q4FY26 was Rs 63.04 crore, as against a profit of Rs 105.18 crore in Q3FY26 and Rs 175.34 crore in Q4FY25. Annual standalone net profit for FY26 was Rs 289.90 crore, a YoY decrease of 50.54% compared to Rs 586.13 crore in FY25. Business Highlights Order Book and Inflow: The Order Book as of March 31, 2026, was Rs 32,495.65 crore, compared to Rs 36,868.61 crore in the previous year. Order Inflow for FY26 was Rs 4,125.00 crore, compared to Rs 15,960.42 crore in FY25. Segment Performance: The Company is primarily engaged in a single business segment viz 'Engineering, procurement and construction' ('EPC'). There are no other reportable segments as per Ind AS 108. Dividend: The Board has recommended a dividend of Rs 2 per equity share (20%) of the face value of Rs 10 each for the financial year 2025-26. Exceptional Item: In FY26, the company recorded an exceptional item of Rs 76.51 crore (incremental impact on retiral benefits) due to the notification of the four new Labour Codes by the Government of India. Financial Ratios: EBITDA Margin for FY26 stood at 11.68% compared to 12.76% in FY25. Debt Equity Ratio was 0.71 times as of March 31, 2026. Return on Capital Employed (ROCE) for FY26 was 11.96% compared to 17.30% in FY25. Fund Raising: The Board approved raising funds up to Rs 250 crore via NCDs, Bonds, or other instruments on a private placement basis. Subramanian Krishnamurthy, Executive Chairman (Whole-time Director) said, “FY26 was a challenging year for Afcons, particularly due to slower ordering activity in several segments, delays in project conversion and continued geopolitical and macroeconomic uncertainties. Despite these headwinds, our order book remained healthy at Rs 32,496 crore as of March 2026, providing good visibility on future revenues and profitability. Order inflow during the year stood at Rs 4,125 crore. For FY26, Total Income stood at Rs 12,322 crore, EBITDA stood at Rs 1,439 crore with an EBITDA margin of 11.7%, while PAT stood at Rs 251 crore. For Q4FY26, Total Income was Rs 2,777 crore and EBITDA stood at Rs 170 crore with a margin of 6.1%. The quarter closed with a net loss of Rs 89 crore, impacted by macroeconomic uncertainties and certain one-time factors. Even in a challenging environment, Afcons continued to deliver key execution milestones during the year, including commissioning of the HRRL Crude Oil Terminal at Mundra, opening of a key stretch of the Central Silk Board double-decker corridor in Bengaluru, and successful trial runs on the Agra and Kanpur Metro projects. These achievements reflect our strong execution capabilities and continued focus on delivering complex infrastructure projects. We remain committed to disciplined project selection and execution, operational excellence and long-term value creation for all our stakeholders.” Result PDF