Ahuwalia Contracts (India) (532811) investor relations material

Executive summary

• Q1 FY27 turnover rose 12.03% YoY to INR 1,125.81 crore (₹112,581.37 lakhs), but PAT dropped 77.65% to INR 11.42 crore (₹1,141.81 lakhs) due to margin pressures and one-off items.

• EPS fell to INR 1.70 from INR 7.63 YoY; EBITDA margin declined to 4.29% from 8.59% and PAT margin to 1% from 5.01%.

• Major margin impact stemmed from a disputed AIIMS Jammu project bill, labor cost escalation, and higher staff costs.

• Gross order book as of June 30, 2026, stood at INR 297,138 lakh, with unexecuted orders at INR 206,635 lakh.

• Board approved unaudited results, set AGM and dividend record date, and approved amalgamation of five subsidiaries, pending NCLT approval.

Financial highlights

• Turnover: INR 1,125.81 crore (up 12.03% YoY); PAT: INR 11.42 crore (down 77.65% YoY).

• EBITDA margin: 4.29% (vs. 8.59% YoY); PAT margin: 1% (vs. 5.01% YoY).

• EPS: INR 1.70 (vs. INR 7.63 YoY).

• Trade payables: INR 776 crore; debtors: INR 632 crore; retention: INR 401 crore; inventory: INR 391 crore; mobilization: INR 924 crore; unbilled revenue: INR 946 crore.

• Gross debt negligible at INR 2 crore; cash and bank balance at INR 920 crore.

Outlook and guidance

• Revenue growth guidance maintained at 12%-15% for FY 2027, with margin recovery expected over the next three quarters, barring unforeseen regulatory impacts.

• Double-digit EBITDA margin ruled out for FY 2027; margin normalization targeted in FY 2028, subject to external factors.

• Order inflow guidance revised down to INR 4,000–5,000 crore for the year, with a conservative bidding approach.

• CapEx for FY 2027 reduced to INR 220–260 crore from earlier INR 300 crore.

• Board approved a scheme of amalgamation involving five wholly owned subsidiaries, pending NCLT approval.