AFCONS Infrastructure Limited’s Board of Directors met on February 10, 2026, to approve the Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Nine Months ending December 31, 2025. The Board also approved the reclassification request for 29 entities from the ‘Promoter Group’ category to the ‘Public Shareholder’ category, pending necessary regulatory approval. Financial results show a Standalone Net Profit After Tax of ₹105.18 Crore for the quarter.
AFCONS Board Meeting Outcomes: February 10, 2026
The Board of Directors of AFCONS Infrastructure Limited convened on Tuesday, February 10, 2026, between 2:00 p.m. (IST) and 4:47 p.m. (IST), to take note of and approve key corporate actions, primarily related to financial reporting and shareholder structure changes.
Unaudited Financial Results Approval (Q3 FY2025-26)
The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Nine Months ended December 31, 2025, along with the Limited Review Reports from the Statutory Auditors.
Standalone Financial Highlights (Quarter Ended December 31, 2025)
- Total Income: ₹3,019.04 Crore
- Profit Before Exceptional Items & Tax: ₹207.91 Crore
- Exceptional Items (Net): ₹76.51 Crore (related to the estimated impact of new Labour Codes)
- Profit After Tax (PAT): ₹105.18 Crore
- Basic Earnings Per Share (EPS): ₹2.86
Consolidated Financial Highlights (Quarter Ended December 31, 2025)
- Total Income: ₹3,005.49 Crore
- Profit After Tax (PAT) attributable to owners: ₹67.09 Crore
- Basic Earnings Per Share (EPS): ₹2.63
Reclassification of Shareholders Approved
The Board reviewed and approved the request for the reclassification of 29 entities currently categorized under the ‘Promoter Group’ to the ‘Public Shareholder’ category. This approval is contingent upon receiving the necessary approvals from the Stock Exchanges (BSE and NSE) and any other required regulatory confirmations, as per the applicable regulations.
The entities seeking reclassification, detailed in Annexure A, currently hold Nil shares and Nil percentage of holdings in the category they are seeking to exit, suggesting the reclassification is procedural regarding ownership structure history.
Auditor Review and Contingencies
The Joint Statutory Auditors provided an Independent Auditor’s Review Report on both Standalone and Consolidated results, dated February 10, 2026.
The report draws specific attention to several material contingencies related to ongoing legal and arbitration proceedings across multiple joint ventures, including:
- Transtonnelstroy Afcons Joint Venture (TTA JV): Claims against the client (Chennai Metro Rail Limited) regarding cost overruns and scope changes are pending in arbitration, High Court, and Supreme Court. Management considers the recognized amounts as recoverable.
- Afcons Gunanusa Joint Venture (AGJV): Claims against ONGC regarding cost overruns due to change orders are in arbitration.
- Dahej Standby Jetty Project Undertaking (DJPU): An appeal has been filed in the High Court against an unfavourable arbitration award concerning liquidated damages for delay.
- Chenab Bridge Project Undertaking (CBPU): A favorable arbitration award of ₹243.53 Crore was recently received, with ₹165.62 Crore recorded as revenue and the balance adjusted against contract assets.
Furthermore, an Exceptional Item of ₹76.51 Crore was recognized on the Standalone basis, representing the estimated incremental impact on retiral benefits due to the Government of India notifying the four new Labour Codes in November 2025.
Source: BSE
