Ircon International Limited — PPTs, 11-02-2025: Investor Presentation

**Financial Highlights (Q3 & 9M FY25)**

In the third quarter of FY25, IRCON International reported operating revenue of ₹2,613 crore, reflecting a 6.8% quarter-on-quarter increase but a 10.8% decline year-on-year. EBITDA dropped 44.7% sequentially to ₹139 crore, with a corresponding margin contraction to 5.3% from 10.3%. Profit after tax fell to ₹86 crore, a 58.2% decrease over the prior quarter. For the nine-month period, the company achieved revenue of ₹7,348 crore, down 15.8% compared to the same period last year, with profit after tax at ₹516 crore, down 24.4%.

**Strategic Initiatives and Growth Drivers**

IRCON continues to focus on expanding its order book, which stands at ₹21,939 crore, with approximately 53% secured through competitive bidding. Strategic attempts to grow in the domestic and international markets are evident, with a notable share of orders from the railways sector.

**Investor Implications**

The significant drop in revenue and profitability metrics suggests a challenging environment ahead. However, the robust order book, combined with ongoing efforts to secure new contracts, presents potential growth opportunities. Investors should watch for recovery signs in upcoming quarters as the company navigates these challenges.