Ircon Share Price Drops 2%; Q2FY26 Revenue Down 19.5% YoY

Ircon International Limited, a Navratna public sector enterprise under the Ministry of Railways, announced its consolidated financial results for the second quarter and half year ended September 30, 2025.

Q2FY26 Performance

For the quarter ended September 30, 2025, total income stood at ₹2,112.2 crore compared to ₹2,538.6 crore in Q2FY25. Revenue from operations was ₹1,976.8 crore as against ₹2,447.5 crore in the same quarter last year.

EBITDA for Q2FY26 came in at ₹297.0 crore, compared to ₹342.8 crore in Q2FY25, with an EBITDA margin of 14.1%.

Profit before tax stood at ₹172.5 crore, while profit after tax was ₹136.5 crore as against ₹205.9 crore in the previous year’s corresponding quarter. The company reported an earnings per share (EPS) of ₹1.47 for Q2FY26.

H1FY26 Highlights

During the first half of FY26, Ircon recorded a total income of ₹4,004.6 crore compared to ₹4,923.9 crore in H1FY25. Revenue from operations was ₹3,763.0 crore against ₹4,734.7 crore a year ago. EBITDA stood at ₹620.9 crore, with a margin of 15.5%.

Profit before tax was ₹384.0 crore, and profit after tax was ₹300.6 crore, compared to ₹544.2 crore and ₹430.0 crore respectively in H1FY25.

Strong Order Book

As of September 30, 2025, Ircon’s total order book stood at a healthy ₹23,865 crore. The breakup includes ₹17,952 crore from railway projects, ₹4,605 crore from highways, and ₹1,308 crore from other infrastructure works. This diversified project portfolio reflects Ircon’s strong presence in India’s expanding infrastructure landscape.

Industry Outlook and Growth Prospects

India’s infrastructure sector is undergoing transformative growth, supported by robust government spending, rising private participation, and rapid urbanization. Initiatives such as PM Gati Shakti, Bharatmala, Sagarmala, and the Smart Cities Mission are reshaping connectivity and logistics.

With a capital expenditure allocation of ₹11.21 lakh crore for infrastructure, the environment remains highly conducive for engineering and construction companies like Ircon.

Ircon Share Price Performance

On November 13, 2025, Ircon share price (NSE: IRCON) opened at ₹161.05, down from its previous close of ₹166.45. At 10:24 AM, the share price of Ircon was trading at ₹162.41, down by 2.43% on the NSE.

Also Read: Ircon Bags ₹360 Crore Contract from Petronet LNG for Dahej Plant!

Conclusion

Ircon International remains strategically positioned to benefit from India’s infrastructure momentum, leveraging its strong execution capabilities and diversified project base. Despite short-term revenue moderation, its robust order book and government-backed opportunities are expected to drive long-term growth and profitability.

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