Ircon International PAT increases by 25.95% yoy to Rs130 crore in Q3FY22; Stock down 1%

15 Feb 2022 , 03:18 PM

Ircon International Limited, a Miniratna (Category – I) Schedule A, Public Sector Enterprise and a leading turnkey Construction Company has announced its financial results for the third quarter and nine months ended on December 31, 2021.

The company said that total income stands at Rs1,709 crore in Q3FY22 as against Rs1,304 crore in Q3FY21. Revenue from Operations during the quarter increased to Rs1,639 crore as against Rs1,246 crore in Q3FY21. Core EBITDA was at Rs107 crore as compared to Rs86 crore in Q3FY21.

Profit Before Tax stands at Rs169 crore in Q3FY22 as against Rs134 crore in Q3FY21. Profit After Tax increased to Rs130 crore as against Rs103 crore in Q3FY21. EPS stands at Rs1.38 per equity share of the face value of Rs2 per share.

For 9MFY22, total income stood at Rs4,316 crore as against Rs2,833 crore in 9MFY21. Revenues from operations for the period nine months ended December 31, 2021, increased to Rs4,113 crore as compared to Rs2,693 crore in 9MFY21. Core Earnings before Interest, Tax, Depreciation, and Amortization (Core EBITDA) stands Rs278 crore in 9MFY22, as against Rs190 crore in 9MFY21. The Company’s Core EBITDA margin stood at 6.76%.

Profit Before Tax (PBT) stood at Rs456 crore for 9MFY22 as compared to Rs298 crore in 9MFY21.The Company’s PBT margin stood at 10.57%. Profit After Tax (PAT) increased to Rs347 crore in 9MFY22 as against Rs219 crore in 9MFY21.The Company’s PAT margin stood at 8.05%. Earnings per share (EPS) for the 9MFY22 stood at Rs3.69 (face value Rs2 per share).

Towards close of trade on Tuesday, Ircon International Ltd was trading at Rs43.05 per share down by Rs0.55 or 1.26% from its previous closing of Rs43.60 per share on the BSE.

Dividend
The company’s Board of Directors has approved 3rd interim dividend of Re0.70 per equity share on the face value of Rs2 per share for the financial year 2021-22. This interim dividend is in addition to earlier interim dividends of Rs1.15 per equity share, as declared and paid earlier in FY22.

Order Book
IRCON has secured new orders worth Rs11,011 crore in Q3FY22 including lowest bidder declared in biddings (however, LoA yet to be received). As of December 31, 2021, the total order book stands at Rs43,505 crore. The break-up is which is as follows:

• Railways: Rs36,656 crore
• Highways Rs4,877 crore
• Others: Rs1,972 crore

Project Milestone
On behalf of Government of India (GoI), IRCON has handed over the newly commissioned cross-border rail section from Jaynagar (Km. 0.00) to Kurtha (Km. 34.90) to Government of Nepal (GoN) on 22nd October, 2021. This is part of 68.72 Km Jaynagar-Bijalpura-Bardibas rail link being built under Government of India grant assistance of NPR 8.77 billion.