Ircon International (IRCON) Q2 24/25 earnings summary

Executive summary

• Consolidated operating revenue for Q2FY25 was ₹2,447.5 crore, down 19.3% year-over-year but up 7% sequentially.

• Profit after tax for Q2FY25 stood at ₹205.9 crore, a decrease of 17.9% year-over-year and 8.1% sequentially.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2024 were approved, showing continued profitability.

• For H1FY25, consolidated operating revenue was ₹4,734.7 crore, down 18.3% year-over-year, with profit after tax at ₹429.9 crore, down 1.9%.

• Financial statements were reviewed by the Audit Committee and received a limited review from statutory auditors.

Financial highlights

• Q2FY25 consolidated EBITDA margin was 10.3%, up 75 bps year-over-year but down 105 bps sequentially.

• Standalone Q2FY25 operating revenue was ₹2,298.9 crore, down 20.3% year-over-year but up 5.4% sequentially.

• Standalone profit after tax for Q2FY25 was ₹202.2 crore, down 12.3% year-over-year but up 14.6% sequentially.

• Consolidated total income for Q2 FY25 was ₹2,538.58 crore, up from ₹2,385.30 crore in Q1 FY25 and ₹3,136.33 crore in Q2 FY24.

• Earnings per share (consolidated) for Q2FY25 was ₹2.19, down 18% year-over-year.

Outlook and guidance

• Order book as of 30.09.2024 stands at ₹24,253 crore, providing strong revenue visibility.

• 52% of the order book was secured through competitive bidding, indicating robust market competitiveness.

• Management does not foresee impairment in key investments and expects continued operational stability.