IRB Infrastructure Developers Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
IRB · price
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Awaiting price reaction for this filing.
IRB Infrastructure reported Q3FY26 consolidated revenue from operations of Rs. 1,871 crore, down about 8% from Rs. 2,025 crore in Q3FY25, though net profit before exceptional items rose 14% YoY to Rs. 253 crore. The Board declared a 3rd interim dividend of 7% (Re. 0.07 per share) with a record date of February 19, 2026, taking total dividends for 9MFY26 to 21%. The Board also recommended a 1:1 bonus issue (one free share for every one held) and doubling of authorised share capital to Rs. 1,260 crore, both subject to shareholder approval via postal ballot. A material related-party transaction was approved making IRB the project manager for the TOT-18 project implemented through IRB Chandibhadra Tollway, valued at up to Rs. 1,581.83 crore (around Rs. 1,866.55 crore including GST) over a 20-year concession. The press release highlighted 12% growth in toll revenue to Rs. 2,152 crore, monetisation of 3 BOT assets unlocking Rs. 4,900 crore of equity, and transfer of the VM7 HAM asset to its Public InvIT, reducing debt by about Rs. 700 crore. An exceptional charge of Rs. 42.65 crore was booked for the new Labour Codes, and auditors issued an unmodified review conclusion.
The 1:1 bonus and steady dividend are shareholder-friendly actions that may support sentiment, while the headline PAT dip in Q3 (due to lower construction revenue and the exceptional item) could be a near-term concern. The Rs. 1,866 crore TOT-18 RPT and the Rs. 14,000 crore TOT-17/TOT-18 acquisition pipeline show the company is actively recycling capital, which can drive future toll revenue but also increases related-party exposure.