IRCON Q2 FY26 results: revenue declines YoY, consolidated results restated

Revenue declinedResults restatedEmphasis of matterResults View source PDF Explain this filing

IRCON · price

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Price reactionminutes from the announcement price · days from the prior close

-3.0%Reaction day

₹166.20

prior close

₹161.05

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.4%-2.6% vs market

Civil Construction peers, median of 97sector-0.6%-2.4% vs sector

On the reaction day the stock moved 2.6 pts less than Nifty Smallcap 250 and 2.4 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.2

10m

+1.4

15m

+1.0

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.0-0.4-2.6-0.6-2.4

Next day

-1.8-0.2-1.6-0.2-1.6

+1.2+0.5+0.7-0.6+1.8

+1.4-0.6+2.0-2.1+3.6

+0.0-1.0+1.0-2.6+2.6

-0.5-1.1+0.6-2.6+2.0

-3.5-2.9-0.5-4.8+1.3

15d

-7.2-3.1-4.1-7.2-0.1

-5.6-3.9-1.7-6.4+0.8

-2.1-5.3+3.2-12.4+10.3

-8.0-6.6-1.4-15.8+7.8

UpDownMarket · Nifty Smallcap 250Sector · Civil Construction peers, median of 97Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

IRCON posted Q2 FY26 standalone revenue of Rs 1,851.53 cr (vs Rs 2,298.86 cr YoY) and PAT of Rs 184.67 cr (vs Rs 202.22 cr). H1 FY26 revenue fell to Rs 3,515.72 cr from Rs 4,479.34 cr, PAT to Rs 335.24 cr from Rs 378.73 cr. Company restated consolidated financials from April 2024 due to a Rs 227.47 cr prior period error in JV CERL, reducing retained earnings by Rs 57.57 cr. Auditor flagged emphasis of matter on IRSDC liquidation, ISTPL non-going concern, and CERL restatement.

Likely market impact

Lower YoY revenue and PAT may weigh on stock; auditor emphasis on JV concerns and restatement add caution for investors.