IRCON International Ltd Net Profit Increased by 29%

NEW DELHI:
Ircon International Limited, a Miniratna (category – I) schedule A public sector enterprise and a leading turnkey construction company in the public sector (under Ministry of Railways), has announced its financial results for the fourth quarter and year ended on March 31, 2023.

Key Financial Highlights for year ended March 31, 2023 (Consolidated) showed that the total income increased by 41.7% to Rs.10,750 crore as against Rs.7,586 crore in FY22. Revenues from operations for the period increased by 40.5% to Rs.10,368 crore as compared to Rs.7,380 crore in FY22. EBITDA stands at Rs.1,117 crore in FY23 as against Rs.846 crore in FY22, a jump of 32.1%. The Company’s EBITDA margin stood at 10.39%. Profit Before Tax for FY23 increased by 29.4% to Rs.891 crore as compared to Rs.689 crore in FY22. Profit After Tax for FY23 increased by 29.2% to Rs.765 crore as against Rs.592 crore in FY22. EPS stands at Rs.8.14 per equity share of the face value of Rs.2/- per share.

As for the quarter ended March 31, 2023 (Consolidated), the total income stands at Rs.3,954 crore in Q4FY23 as against Rs.3,011 crore in Q4FY22, a jump of 31.3% on Y-o-Y. Revenue from Operations during the quarter increased by 28.1% to Rs.3,781 crore as against Rs.2,953 crore in Q4FY22. EBITDA was at Rs.370 crore, an increase of 37.4%, as compared to Rs.269 crore in Q4FY22. The Company’s EBITDA margin stood at 9.35%. Profit Before Tax increased by 36.0% to Rs.301 crore in Q4FY23 as against Rs.221 crore in Q4FY22. Profit After Tax increased by 6.1% to Rs.257 crore in Q4FY23 as against Rs.242 crore in Q4FY22. EPS stands at Rs.2.73 per equity share of the face value of Rs.2/- per share.

On Dividends, the Board of Directors have recommended final dividend of Rs.1.20 per equity share on the face value of Rs.2 per share subject to approval of shareholders in ensuing Annual General Meeting (AGM). This final dividend is in addition to interim dividends of Rs.1.80 per equity share, as declared and paid earlier in FY23.

The total order book as on 31.03.2023 stands at Rs.35,195 crore. The break-up of which is as follows: Railways (Rs.26,243 crore), Highways (Rs.6,985 crore), and Others (Rs.1,967 crore).