IRCON

Current Scenario & Performance - Total consolidated revenue reported at ₹2,364 Cr with core EBITDA of ₹227 Cr and PAT of ₹100 Cr in Q2 FY27. - Order book stood at ₹21,296 Cr as of September 30, 2026 (55% competitive, 45% nomination; 91% domestic, 9% international). Management Guidance & Outlook - Revenue guidance for FY27 stands at ₹9,000–₹9,500 Cr on a standalone basis (5%-6% YoY growth). - Margin guidance maintained at 6%-7% PAT on standalone basis and 8%-9% core EBITDA on consolidated basis. - Full-year effective tax rate expected at 23%-24% after absorbing a one-off tax liability of ₹12–13 Cr in the Sri Lanka project. - Targeting annual order intake of ₹9,000–₹10,000 Cr to maintain an order book close to ₹25,000 Cr by March 2027. Growth Drivers & Bidding Pipeline - Bids worth ~₹25,000 Cr already quoted and awaiting opening across domestic railways, highways, and overseas markets (Algeria, Sri Lanka, Africa, Eastern Europe). - Targeting to expand international order share from 9% to 15%. - Key ongoing execution projects include Sivok project (pending order book ₹2,000–₹2,500 Cr) and Bullet Train T-2 package (pending order book ₹3,000–₹3,500 Cr). Investments & Subsidiaries - Invested ~₹3,100 Cr in SPVs and JVs, with an additional ₹800–₹900 Cr planned for under-construction HAM and renewable assets. - Coal connectivity JVs expected to breakeven in two years as teething issues ease. Corporate Clarification - Management clarified having no knowledge or official communication regarding rumored merger with RVNL.

- Audio recording link for the Conference Call held on November 5, 2026, has been made available. - The call covered discussions on financial results for the quarter and half-year ended September 30, 2026. - Recording is accessible on the IRCON website under Investor Relations.

Q2 FY27 Consolidated Revenue ₹2,271.7 Cr vs ₹1,976.8 Cr (▲14.9% YoY) EBITDA ₹319.5 Cr vs ₹297.0 Cr (▲7.6% YoY) PAT ₹100.3 Cr vs ₹136.5 Cr (▼26.5% YoY) EBITDA Margin 13.5% vs 14.1% (▼54bps) Order Book stands at ₹21,296 Cr as on 30.09.2026 (Railways: ₹16,271 Cr, Highways: ₹3,538 Cr)

Ircon International Limited submitted its Investor Presentation for Q2 and H1 FY27 under Regulation 30 of SEBI (LODR) Regulations, 2015. - Provides an overview of the company's journey, milestones, and leadership details. - Outlines the consolidated and standalone financial performance, group structure, subsidiaries, and joint ventures. - Details the current order book status and future business opportunities in the infrastructure sector.

- Ircon International Limited has initiated an asset monetisation plan to strategically sell its 100% stake in four completed road assets. - The assets include Ircon Shivpuri Guna Tollway, Ircon PB Tollway, Ircon Davanagere Haveri Highway, and Ircon Vadodara Kim Expressway. - The stake sale is being conducted in accordance with applicable DIPAM guidelines.

- Ircon International Limited submitted financial results for the period ended September 30, 2026. - Detailed financial tables and metrics were not provided in the filing text.

Concall Schedule Concall Date: Thursday, 05th November 2026 Concall Time: 3:30 PM IST

- Ircon International received a GST notice from the Joint Commissioner CGST Audit Commissionerate, Dehradun regarding inadmissible GST ITC of ₹72.41 Crore on works contract services. - Ircon has filed a Writ petition in the High Court of Uttarakhand at Nainital. - The High Court directed the department to file a counter within 4 weeks, IRCON to reply within 2 weeks, and restrained authorities from passing an order until the next hearing.

- Ircon International Limited received a favorable response from the National Stock Exchange (NSE) regarding its waiver application for fines. - The fines were originally levied for delays in compliance pertaining to Regulation 18(1) (Audit Committee) and Regulation 19(1)/19(2) (Nomination and Remuneration Committee) across multiple quarters from December 31, 2024, to September 30, 2026. - NSE's relevant authority considered the company's request and granted a complete waiver of the levied fines.

Order Win: Ircon International Limited won order from East Central Railway Order Value: ₹862.46 Cr. Completion Timeline: 365 days

Order Win: Ircon International Limited won order from M/s Konkan Railway Corporation Ltd Order Value: ₹96.25 Cr. Completion Timeline: 5 years (60 months)

- Ircon International Limited clarified regarding the recent significant increase in trading volume on the exchange. - The company stated that there is no pending information or announcement related to its operations that would impact the price behavior or trading volume in its scrip.

Concall Schedule Concall Date: 30th September, 2026 Concall Time: Virtual Group Meeting at Bharat Connect Conference: Rising Stars - September 2026

- IRCON International Limited provided an update on pending litigation regarding a dispute raised by AFCON's for a work package worth ₹359.72 Cr. - A Majority Arbitration Tribunal awarded ₹147.14 Cr against IRCON on June 29, 2026. - A Minority Tribunal awarded ₹23.64 Cr against IRCON on September 23, 2026. - IRCON will challenge these awards before the High Court of Delhi.

- Trading window to close from October 1, 2026, until 48 hours after financial results for the quarter/half year ended September 30, 2026, are made public. - The Board Meeting for considering the financial results will be intimated separately.

- M/s. Vinod Singhal & Co LLP has been appointed as the Statutory Auditors for Ircon International Limited for the financial year 2026-27. - The appointment was made by the Office of the Comptroller and Auditor General of India (C&AG) via letter dated 7th September, 2026. - The firm will also audit the Consolidated Financial Statements.

- IRCON filed its Business Responsibility & Sustainability Report (BRSR) for FY 2025-26, including an Independent Assurance Statement. - The report details ESG initiatives, risks (e.g., climate change, supply chain), and opportunities in areas like sustainable construction, employee well-being, and community development.

- Shri P.V. Sreekanth, Executive Director/ S&T, IRCON, ceased to be a Senior Management Personnel upon attaining the age of superannuation, effective 31st August, 2026.

- Concall Schedule - Concall Date: 2nd September, 2026 - Concall Details: Ashwamedh - Elara India Dialogue 2026 at Mumbai (Physical One on One / Group Meeting)

- IRCON fined ₹9,66,420 each by NSE & BSE for non-compliance with Board/committee composition for Q1 FY27. - A Woman Independent Director was appointed and committees re-constituted on Aug 17, 2026. - Company expects fine waiver, citing no financial impact.

- 50th Annual General Meeting (AGM) of Ircon International Limited to be held on September 24, 2026, at 12:30 P.M. via Video Conferencing/Other Audio Visual Means. - Record Date for Final Dividend for Financial Year 2025-26 is September 17, 2026. - Dividend payment, if declared at the AGM, will commence from October 12, 2026, onwards. - E-voting period will be from September 21, 2026, to September 23, 2026.

- 50th Annual General Meeting (AGM) of Ircon International Limited is scheduled for Thursday, September 24, 2026, at 12:30 P.M. via Video Conferencing/Other Audio Visual Means. - The Record Date for Final Dividend for Financial Year 2025-26 is Thursday, September 17, 2026. - The Cut-Off Date for E-voting is Thursday, September 17, 2026, with the remote e-voting period from Monday, September 21, 2026, to Wednesday, September 23, 2026. - Payment of Dividend, if declared at the AGM, will commence from Monday, October 12, 2026, onwards.

- IRCON International Limited announced the appointment of Smt. Suman Bala (DIN: 11894015) as an Independent (Non-official Part-Time) Director. - The appointment is effective from August 17, 2026, for a period of three years. - Smt. Suman Bala is not related to any other Director of the Company.

- Smt. Suman Bala has been appointed as a Non-official (Independent) Director on the Board of IRCON International Limited. - The appointment is for a period of three years, effective immediately from August 13, 2026, as conveyed by the Ministry of Railways.

- Q1 FY27 Consolidated Revenue ₹1,955.8Cr vs ₹1,786.3Cr (▲9.5% YoY) - EBITDA ₹278.7Cr vs ₹323.9Cr (▼13.8% YoY) - PAT ₹92.0Cr vs ₹164.1Cr (▼43.9% YoY) - EBITDA Margin 13.6% vs 18.1% (▼450bps)

- Intimation of Investor Presentation for Q1 FY27 unaudited financial results ended June 30, 2026.

- Q1 FY27 Consolidated Revenue ₹1,955.83 Cr vs ₹1,786.28 Cr (▲9.5% YoY) - EBITDA ₹191.78 Cr vs ₹217.79 Cr (▼11.9% YoY) - PAT ₹92.03 Cr vs ₹164.10 Cr (▼43.9% YoY) - EBITDA Margin 9.81% vs 12.19% (▼238bps) - Board approved the re-appointment of M/s Bandyopadhyaya Bhaumik & Co. as Cost Auditor for FY 2026-27.

- Q1 FY27 Consolidated Revenue ₹1,955.83Cr vs ₹1,786.28Cr (▲9.5% YoY) - EBITDA ₹191.78Cr vs ₹217.79Cr (▼11.9% YoY) - PAT ₹92.03Cr vs ₹164.10Cr (▼43.9% YoY) - EBITDA Margin 9.8% vs 12.2% (▼240bps)

- IRCON International Limited announced the appointment of Shri Vimal Kishor Nagar as ED/Electrical and Shri P.V. Sreekanth as ED/S&T. - The appointments are effective from August 7, 2026.

- IRCON International Limited announced the appointment of Shri Vimal Kishor Nagar as ED/Electrical and Shri P.V. Sreekanth as ED/S&T. - The appointments are effective from 7th August, 2026.