LCC Projects Q2 FY27 results: net profit ₹76.95 crore

How did LCC Projects perform in Q2 FY27?

On a consolidated basis, LCC Projects reported Q2 FY27 revenue of ₹885.73 crore, compared with ₹802.59 crore in Q1 FY27, a rise of ₹83.14 crore or 10.4%. Total income increased 10.1% to ₹891.87 crore from ₹810.41 crore, while total expenses rose 9.8% to ₹789.44 crore. The figures covered the quarter ended 30 September 2026.

EBITDA increased 14.6% to ₹136.92 crore from ₹119.49 crore in Q1 FY27, and the EBITDA margin increased to 15.5% from 14.9%. Profit before tax rose 11.8% to ₹102.42 crore from ₹91.57 crore, while net profit increased 17.0% to ₹76.95 crore from ₹65.76 crore. Basic EPS rose to ₹2.57 from ₹2.34.

On a standalone basis, Q2 FY27 revenue was ₹817.09 crore and profit after tax was ₹69.95 crore. The company filed both standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026.

What do the balance sheet and cash flow show?

As of 30 September 2026, LCC Projects reported total assets of ₹2,905.58 crore and total equity of ₹1,276.23 crore. Borrowings were ₹884.54 crore and cash was ₹238.44 crore. Inventories stood at ₹88.92 crore, trade receivables at ₹673.73 crore and trade payables at ₹388.17 crore. The filing also reported gross debt of ₹8,845 mn and gross debt-to-equity of 0.70x.

For H1 FY27, operating cash flow was negative ₹116.02 crore, investing cash flow was negative ₹35.7 crore and financing cash flow was positive ₹218.0 crore. Capital expenditure was ₹29.11 crore. Comparable year-earlier cash-flow figures and a previous balance-sheet date were not provided in the supplied information.

For H1 FY27, consolidated revenue was ₹1,688.32 crore, total income was ₹1,702.28 crore, profit before tax was ₹193.99 crore and profit after tax was ₹142.71 crore. Basic EPS for the half year was ₹4.77.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results and the limited review report for the quarter and half year ended 30 September 2026 on 30 October 2026. Separately, on 5 October 2026, the board approved the proposal to incorporate a subsidiary company in India and the same-day investor presentation for Q1 FY27. The supplied filings do not state any dividend or fund-raising decision, and no appointment is described in them.

The Q1 FY27 investor presentation stated that the order book was ₹83,878 million as of 30 June 2026, compared with ₹79,532 million as of 31 March 2026. It also reported FY27 year-to-date order booking of ₹22,291 mn, including Q1 FY27 bookings of ₹11,724 mn and Q2 FY27 bookings of ₹10,567 mn, with L1 projects worth ₹17,673 million.

What did LCC Projects' management say?

Management targets FY27 revenue of ₹4,300–₹4,400 crore, approximately 20% growth and an EBITDA margin of 14%–15%. It expects a typical 40% H1 and 60% H2 revenue split, FY27 order inflow of ₹6,000 crore and an order book of approximately ₹10,000 crore by the end of FY27. The company also expects FY27 annual capex of ₹50–60 crore.

Management said working-capital days should fall from 123 days at September 2026 to 90–100 days by the end of FY27 as post-quarter milestone receivables are collected. It said ₹1,583 crore of L1 orders and tendering activity were the main bridge to the order-book target, while private-sector exposure is expected to rise gradually from 20% toward 35%.

Management identified rain and monsoon variability, delayed L1 conversion, labour scarcity and quarterly project-mix fluctuations as risks. It said Rajasthan elections could add roughly 20 days to L1 conversion and that precast facilities partly mitigate the labour constraint. CFO Artiba Narpatsinh Jadeja said, “We believe in saying less and achieving more.”

Chairman and Managing Director Arjan Suja Rabari said, “Our focus is not on doing civil work in data center, our focus is on their water requirement.” He also said, “Our margin will be stable and we will increase it.” No analyst questions were recorded in the supplied earnings-call information.

How did LCC Projects shares react?

The results appeared after market hours, when the stock was ₹142.03, compared with the previous close of ₹148.65. It rose 1.4% after 5 minutes, 0.5% after 15 minutes and 0.2% after 30 minutes of trading following the filing, before falling 2.9% by the reaction-day close.