AFCONS

Q1 2026 Result

posted a strong Q1FY26 performance. Revenue grew 6.4% YoY to Rs 3,419 crore, while EBITDA rose 20% YoY to Rs 445 crore, improving margins to 13% from 11.6% last year. PAT jumped 50% YoY to Rs 137 crore, with margins up to 4% from 2.9%. Order inflow stood at Rs 1,093 crore, taking the order book to Rs 35,311 crore (book-to-bill ratio of 2.6x), excluding L1 orders worth Rs 21,556 crore. The company also made a strategic breakthrough in Europe, becoming L1 in large projects in Croatia. Management remains focused on high-quality, large orders, disciplined bidding, and overseas expansion. Analysis: The company is showing healthy growth in both revenue and profitability, with margin expansion indicating operational efficiency. A robust order book and international wins provide strong revenue visibility. The overseas push, especially in Europe, diversifies market risk. However, actual conversion of L1 orders into execution will be key for sustaining growth momentum.