Please find enclosed the outcome of the Board Meeting along with Financial Results for the quarter and year ended March 31, 2026 and Auditors Report thereon.
AFCONS · price
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Afcons Infrastructure reported FY2026 revenue of Rs. 11,938 crore, down 4.8% from Rs. 12,499 crore in FY2025, impacted by lower order inflow of Rs. 4,125 crore versus Rs. 15,960 crore previously. Profit after tax from continuing operations fell nearly 48% to Rs. 251 crore from Rs. 487 crore, with PAT margin compressing to 2.03% from 3.74%. EBITDA margin also declined to 11.68% from 12.76%. The company's order book stood at Rs. 32,496 crore with a book-to-bill ratio of 2.72x. Operating cash flow remained negative at Rs. -127 crore. Total debt increased to Rs. 3,529 crore from Rs. 2,230 crore, with debt-to-equity ratio rising to 0.65x from 0.42x. The board recommended a dividend of Rs. 2 per share (20%) subject to shareholder approval. Deloitte Haskins & Sells LLP continues as sole statutory auditor with an unmodified opinion, though the auditors flagged emphasis of matter paragraphs regarding ongoing arbitration proceedings related to Chennai Metro and joint venture disputes.
The significant decline in profitability, rising debt levels, and negative cash flow may concern investors. The expanding debt-to-equity ratio and compressed margins indicate execution challenges. The large order book provides future revenue visibility, but near-term financial stress is evident.