Ircon International Limited has informed the Exchange about Re-appointment of Cost Auditor for the Financial Year 2025-26.
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Awaiting price reaction for this filing.
Ircon International's board met on 6th August 2025 and approved unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). Standalone revenue from operations fell to Rs 1,664.19 crore from Rs 2,180.48 crore a year ago, a YoY decline of about 23.7%. Standalone net profit after tax declined to Rs 150.57 crore from Rs 176.51 crore, while consolidated PAT fell to Rs 164.10 crore from Rs 224.03 crore. Standalone EPS stood at Rs 1.60 vs Rs 1.88 in Q1 FY25. The board also appointed M/s VAP & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30) and re-appointed M/s Bandyopadhyaya Bhaumik & Co. as Cost Auditor for FY 2025-26. The auditor's limited review report includes an Emphasis of Matter note regarding IRSDC (a joint venture under liquidation with Rs 252 crore investment, no impairment foreseen). Another JV, Ircon-Soma Tollway, had its financials prepared on a basis other than going concern as its toll concession ends April 2026.
The sharp YoY drop in both revenue (~24%) and profit (~15-27%) signals weak Q1 execution, which may weigh on short-term sentiment. However, the auditor appointments are routine compliance matters. Investors should watch for whether the decline is timing-related or reflects structural slowdown in order inflows.