J. Kumar Infraprojects (JKIL) Q2 25/26 earnings summary

Executive summary

• H1 FY 2026 saw steady progress despite a heavy and extended monsoon, with a solid order book and improving execution velocity.

• Revenue for Q2 FY26 rose 4% year-over-year to ₹1,343 crore, with H1 FY26 revenue up 10% to ₹2,826 crore.

• PAT for Q2 FY26 was ₹91 crore, nearly flat year-over-year; H1 FY26 PAT up 10% to ₹195 crore.

• The company remains confident in its growth trajectory, focusing on technically demanding projects and innovation.

• Board approved fund raising up to ₹800 crores via equity or convertible securities through public or private offerings, including QIP.

Financial highlights

• Revenue from operations for H1 FY 2026 grew by 10% year-over-year to INR 2,826 crores.

• Operating margin increased by 10% to INR 411 crores; EBITDA margin stood at 14.6% (vs. 14.5% last year).

• PAT for H1 FY 2026 rose 10% to INR 195 crores, with a PAT margin of 6.9%.

• Q2 FY26 EBITDA margin was 14.5%, consistent with prior periods.

• Total order book as of September 30, 2025, was INR 20,160 crores.

Outlook and guidance

• FY 2026 revenue guidance revised to INR 6,200–6,300 crores, reflecting ~11% year-over-year growth.

• EBITDA margin guidance maintained at 14–15% for FY 2026, with a target to reach 15–16% in the next two years.

• Order inflow target for FY 2026 is INR 5,000–6,000 crores, aiming for a closing order book of INR 20,000–23,000 crores.

• Board is seeking to strengthen the balance sheet and support growth through a significant capital raise.

• Growth target of 16–17% per year is maintained for the medium term, supported by large project inflows.