IRCON Q1FY23 Revenue Up By 76% YoY At Rs. 2068 Crore; PAT Jumps 62% YoY At Rs.145 Crore

Key Financial Highlights for Quarter ended 30th June 2022 (Consolidated): 

Total Income increased to Rs.2,068 Crore as against Rs.1,176 Crore in Q1FY22. 

Revenue from operations increased to Rs.2,002 Crore as against Rs.1,142 Crore in Q1FY22. 

Core EBITDA increased to Rs.173 Crore as compared to Rs.119 Crore in Q1FY22. 

PAT stands at Rs.145 Crore as compared to Rs.89 Crore in Q1FY22. 

EPS stands at Rs.1.54 per Equity share of the Face Value Rs.2 per share. 

Order Book: 

As of 30th June 2022, the total order book stands at Rs.42,066 Crore. The break-up is which is as follows: 

Railways        : Rs.32,700 Crore 

Highways      : Rs.  7,395 Crore 

Others                        : Rs.  1,971 Crore 

Financial Performance: 

The Board of Directorsof Ircon International Limited (NSE: IRCON | BSE: 541956), at its meetingtoday, approved the results for the quarter ended 30th June 2022.  

Industry Outlook/Way forward: 

India is a major market with a growing need for more sophisticated and more sustainable structures. Significant growth in infrastructure is likely, thanks to the policy-driven focus on the sector.  The government's continued impetus on infrastructure development has been beneficial for the whole industry though headwinds arising out of rising cost pressure and inflationary impacts could have some volatilities. 

However, the scope for development across the sector is huge, given the substantial number of ongoing and proposed projects. The current scenario, therefore, presents a competitive landscape for the company to buckle up and take the opportunities to grow the business and continue to create value for its stakeholders. 

The global Infrastructure sector has grown from strength to strength throughout the disruption and uncertainty in the last year. As we move into 2022 and beyond, it is evident that infrastructure is consistently innovating and developing. Hence, FY23 will be another rewarding but challenging year, and the industry looks to be poised to capture growth opportunities. 

About Ircon International Limited (https://www.ircon.org/; BSE: 541956; NSE: IRCON): 

Ircon International Limited is a Miniratna (Category - I) Schedule A, Public Sector Enterprise and a leading turnkey Construction Company in the public sector known for quality, commitment, and consistency in terms of performance. 

The core competence of IRCON is in Railways, Highways & Extra High Tension substation engineering and Construction. The company has executed projects operated in the areas of Railway construction including ballast less track, electrification, tunneling,  

signal & telecommunication as well as leasing of locos, construction of roads, highways, commercial, industrial & residential buildings and complexes, airport runway and hangars, metro and mass rapid transit system, etc.  

IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria, Myanmar and Sri Lanka). Company has completed more than 128 projects in 25 countries across the globe and 395 projects in various states in India.