Afcons Infrastructure (AFCONS) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 total income grew 6.4% year-over-year to ₹3,419 crore, with EBITDA at ₹445 crore (up 20% YoY) and PAT at ₹137 crore (up 50% YoY), reflecting improved margins and profitability.

• EBITDA margin rose to 13.0% (up 144 bps YoY), and PAT margin improved to 4.0% from 2.9% last year, driven by cost management and operational efficiencies.

• Order book stood at ₹35,311 crore as of Q1 FY26, with additional L1 orders worth ₹21,556 crore and ₹1,093 crore order inflow during the quarter.

• Major project milestones included record tunneling progress in Maharashtra and the inauguration of the Chenab Railway Bridge, the world's highest single-arch railway bridge.

• Recognized for workplace excellence, innovation, and safety, with multiple awards from AmbitionBox, the British Safety Council, and others.

Financial highlights

• Total income for Q1 FY26 was ₹3,419 crore, up from ₹3,213 crore in Q1 FY25.

• EBITDA increased to ₹445 crore (13.0% margin), up from ₹372 crore (11.6% margin) YoY.

• PAT rose to ₹137 crore (4.0% margin), a 50% increase from ₹92 crore (2.9% margin) YoY.

• Diluted EPS for Q1 FY26 was ₹3.74, up from ₹2.69 in Q1 FY25.

• Net debt to equity at 0.5x; book to bill ratio at 2.6x.

Outlook and guidance

• Management maintains annual turnover growth guidance of 20%-25% for FY26, expecting a ramp-up in execution in H2.

• Order inflow guidance remains at ₹20,000 crore for the year, with confidence in achieving and potentially exceeding this target.

• Strong order book and L1 pipeline provide robust near-term revenue visibility.

• Focus on large, complex projects and expanding international presence, especially in Europe.

• Strategic emphasis on cost management, execution efficiency, and sustainable growth.