IRB Infrastructure Developers Ltd. announced strong financial results for Q3FY26, with Net Profit before exceptional items rising 14% YoY to Rs. 253 Crs. The Board recommended a 1:1 Bonus Share issue and declared a 3rd Interim Dividend of 7% (Rs. 0.07/share) for FY26. Furthermore, the Board proposed increasing the Authorized Share Capital and authorized seeking shareholder approval via Postal Ballot for these key corporate actions.
IRB Announces Strong Q3FY26 Financial Outcomes
IRB Infrastructure Developers Ltd. declared its financial results for the third quarter of FY26 (ending December 31, 2025), revealing robust performance across its segments. The company reported that the Net Profit before exceptional item for Q3FY26 increased by 14% YoY to Rs. 253 Crs, up from Rs. 222 Crs in Q3FY25.
The Board meeting held on February 13, 2026, resulted in several key approvals and recommendations:
- Approval of the Consolidated & Standalone Unaudited Financial Results for the quarter and nine months ended December 31, 2025.
- Declaration of the 3rd Interim dividend of 7% (Re. 0.07/- per equity share) for FY2025-26, with payment due on or before March 14, 2026.
- Recommendation of a 1:1 Bonus Equity Share issuance, subject to shareholder approval.
- Proposal for an increase in the Authorised Share Capital from Rs. 615 Crore to Rs. 1,260 Crore.
Key Financial Highlights (Consolidated)
For the quarter ended December 31, 2025 (Q3FY26), the consolidated figures compared to Q3FY25 (in Rs. in Crs) were:
- Total Income: 1,912 Crs (vs. 2,090 Crs in Q3FY25).
- EBITDA: 1,063 Crs (vs. 1,049 Crs in Q3FY25).
- Profit Before Tax: 338 Crs (vs. 323 Crs in Q3FY25).
- Profit After Tax before exceptional item: 253 Crs (vs. 222 Crs in Q3FY25).
- Profit After Tax after exceptional item: 211 Crs (vs. 6,026 Crs in Q3FY25, reflecting the prior year’s significant fair value gain on InvITs).
The nine-month figures showed a 21% increase in Net Profit before exceptional item.
Strategic Corporate Actions & Developments
Bonus Issue Details
The recommended 1:1 Bonus Share ratio requires issuing 603,90,00,000 shares of Re. 1/- face value each. These shares will be issued out of the Securities Premium Account as of December 31, 2025. The resulting Paid-up Capital post-issue is projected to reach Rs. 1,207,80,00,000/-, pending shareholder approval via Postal Ballot, expected to be completed by April 13, 2026.
Management Re-appointment and Related Party Transactions
The Board approved the re-appointment of Mrs. Deepali V. Mhaiskar as Whole Time Director effective May 19, 2026. Furthermore, the Board approved a Material Related Party contract for project management services concerning the TOT-18 Project (IRB Chandibhadra Tollway Private Limited). This contract is estimated at an aggregate value of up to Rs. 1,581.83 crore (approx. INR 1,866.55 crore including GST).
Business Performance Milestones
The management highlighted strategic asset recycling:
- The Private InvIT successfully monetized three BOT assets, unlocking equity of Rs. 4,900 Crs.
- The VM7 HAM asset transfer to the Public InvIT unlocked equity of Rs. 513 Crs and reduced debt by over Rs. 700 Crs.
- The unlocked capital is being deployed to fund the equity requirement for two newly acquired TOT assets (TOT-17 and TOT-18), valued at approximately Rs. 14,000 Crs (Enterprise Value).
- Aggregate toll revenue grew approximately 12% during the quarter.
Source: BSE
