Ircon International (IRCON) Q4 23/24 earnings summary

Executive summary

• Achieved record consolidated turnover of ₹12,870.52 crore in FY 2023-24, up 19.73% year-over-year; standalone turnover reached ₹12,387.85 crore, up 20.72% year-over-year.

• Consolidated net profit rose 21.47% to ₹929.51 crore; standalone net profit increased 11.08% to ₹862.90 crore compared to previous year.

• Board declared total dividend of ₹291.56 crore (155% of paid-up equity), representing 33.79% of post-tax profits.

• Upgraded to Navratna status, enhancing autonomy and business opportunities.

Financial highlights

• Standalone EBITDA grew 30.06% to ₹1,201.36 crore; consolidated EBITDA up 35.24% to ₹1,509.96 crore year-over-year.

• Standalone PBT margin at 9.33%; PAT margin at 6.97%; return on net worth at 14.95%.

• Order book at ₹27,208 crore as of March 31, 2024, with 77.76% in railways and 21.92% in highways.

• Cash and bank balances at ₹4,429 crore, with strong liquidity and zero standalone debt.

Outlook and guidance

• Expects continued growth driven by government infrastructure spending, especially in railways and highways.

• Focus on expanding domestic and international project portfolio, including renewable energy and PPP models.

• Indian economy projected to grow at 7.2% in FY 2024-25, supporting sectoral demand.