Afcons Infrastructure announced its financial results for the quarter and nine months ended December 31, 2025. Total Income remained relatively flat year-over-year (YoY) for the nine months, but EBITDA saw a slight improvement to ₹1,269 Cr (up 1.8% YoY). Profit After Tax (PAT) declined due to a one-time impact from new labor code provisions. The order book remains robust at ₹31,543 Cr, indicating strong future revenue visibility.
AFCONS Financial Performance Snapshot (9M FY26)
Afcons Infrastructure Limited released its results for the nine months ended December 31, 2025, highlighting resilient profitability despite a largely flat topline.
Key Performance Indicators (9M FY26 vs 9M FY25)
The nine-month figures demonstrated stability with minor shifts:
- Total Income stood at ₹9,545 Cr, marking a marginal decline of 0.9% YoY.
- EBITDA reached ₹1,269 Cr, an increase of 1.8% YoY.
- EBITDA Margin improved to 13.3%, up 35 basis points YoY (excluding one-time impact of ₹76.51 Cr from the new labour code).
- Profit After Tax (PAT) was ₹339 Cr, a decrease of 9.7% YoY, primarily attributed to one-time provisions for the new labour code.
Quarterly Performance (Q3 FY26 vs Q3 FY25)
The third quarter showed stronger margin improvement:
- Total Income was ₹3,025 Cr, down 9.2% YoY from ₹3,332 Cr.
- EBITDA for Q3 stood at ₹424 Cr, with the margin improving by 50 basis points to 14.0%.
- PAT declined significantly to ₹97 Cr compared to ₹149 Cr in Q3 FY25, due to the one-time impact of the labour code provisions.
Robust Order Book and Future Visibility
The company maintains a strong foundation for future revenue, with the pending order book healthy at ₹31,543 Cr as of December 31, 2025. This translates to a book-to-bill ratio of 2.5x.
Order inflow for 9MFY26 reached ₹2,640 Cr. The order book is well-diversified across key segments:
- Urban Infra – UG & Elevated Metro: ₹9,594 Cr (30.4%)
- Hydro & Underground: ₹7,738 Cr (24.5%)
- Urban Infra – Bridges & Elevated Corridor: ₹6,786 Cr (21.5%)
Operational Milestones and Executive Commentary
Mr. Subramanian Krishnamurthy, Executive Chairman, commented that while the topline was constrained by client-related execution delays and payment delays, the quarter witnessed significant operational achievements. A key highlight was the successful breakthrough in the CIDCO water tunnel project in December 2025, achieved one month ahead of schedule, setting a new company record of tunneling 777 m in a single month.
Furthermore, Afcons reaffirmed its industry standing, being recognized as the Most Innovative Knowledge Enterprise for the eighth consecutive year and ranked as the 8th largest international Maritime and Port Facilities contractor by ENR. The company also secured a new road project exceeding €100 million in Uganda, reinforcing its presence in Africa.
Source: BSE
