New Delhi: Ircon International Limited, a Miniratna (Category ‐ I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company has announced itsfinancial results for the third quarter/nine months ended on December 31st, 2020.

The performance of the company has substantially improved in Q3FY21 as compared to previous quarter as well as in the same period last year i.e. Q3FY20. Operating Revenue as well as adjusted Profit after Tax (PAT) have increased in Q3FY21 after eliminating one time claim amounting Rs.45 crore received in Q3FY20 last year

Highlights for Q3FY21 Standalone Financials

• Total income increased to Rs. 1,304 crore from Rs. 1,015 crore in Q2FY21 up by 28%.
• Revenue from Operations increased to Rs. 1,244 crore in Q3FY21 from Rs. 966 crore in Q2FY21 i.e. an increase of 29%.
• Core EBITDA stands at Rs. 85 crore as compared to Rs. 66 crore in Q2FY21 up by 28%.
• Profit Before Tax stands at Rs. 134 crore as against Rs. 104 crore in Q2FY21 up by 30%.
• Profit After Tax stands at Rs. 103 crore as against Rs. 76 crore in Q2FY21 increased by 35%.
• EPS stands at Rs. 2.19 per Equity share of the Face Value Rs.2 per share.

9MFY21 (Standalone)

Revenues from operations for the nine months ended December 31st, 2020 (9MFY21) stood at Rs. 2,687 crore as compared to Rs. 3,414 crore in 9MFY20. The Total Income stood at Rs. 2,833 crore in 9MFY21 as against Rs. 3,611 crore in 9MFY20.

Core Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 184 crore in 9MFY21, as against Rs 347 crore in 9MFY20. The Company’s Core EBITDA margin stood at 6.86%.

Profit Before Tax (PBT) stood at Rs. 298 crore for 9MFY21 as compared to Rs. 511 crore in 9MFY20. The Company’s PBT margin stood at 10.52%.
Profit After Tax (PAT) reported stood Rs. 219 crore for 9MFY21 as against Rs. 367 crore in 9MFY20.The Company’s PAT margin stood at 7.74%.
Earnings per share (EPS) for 9MFY21 stood at Rs. 4.66 (Face Value Rs.2 per share).

Order Book

In the current financial year, IRCON has already secured new orders worth Rs.3983 crore. In Q3FY21, IRCON has secured orders of Rs.1623 crore comprising two orders worth Rs.723 crore (approx.) for Delhi‐ Ghaziabad‐Meerut RRTS Corridor from NCRTC and an order worth Rs. 900 crore, on a competitive bidding basis, for the up‐gradation of Gurgaon‐Pataudi ‐ Rewari section in the state of Haryana on Hybrid Annuity Model.

As of December 31st 2020, the total order book stands at Rs. 32,814 Crore. The break‐up is which is as follows:

1‐ Railways : Rs. 30,709 crore 2‐ Highways : Rs. 2,105 crore

COVID Impact

Construction activities have been started in full swing and as such there is no shortage of labour or supply chain interruption. We have surpassed the construction activities in Q3FY21 as compared to last year.

About Ircon International Limited (https://www.ircon.org/; BSE: 541956; NSE: IRCON)

Ircon International Limited is a Miniratna (Category ‐ I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company in the public sector known for quality, commitment and consistency in terms of performance.

The core competence of IRCON is in Railways, Highways & Extra High Tension substation engineering and Construction. The company has executed projects operated in the areas of Railway construction including ballast less track, electrification, tunneling, signal & telecommunication as well as leasing of locos, construction of roads, highways, commercial, industrial & residential buildings and complexes, airport runway and hangars, metro and mass rapid transit system, etc.

IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria and Sri Lanka). Company has completed more than 128 projects in25 countries across the globe and 390 projects in various states in India.