IRCON International Ltd — Earnings Release 2022

Aug 12, 2021

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Media Release

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IRCON INTERNATIONAL LIMITED

C-4, District Centre, Saket, New Delhi - 110017

Q1FY22 Revenue from Operations increased by 120% to Rs.1,051 crore, PAT increased by 112% to Rs.85 crore

New Delhi: August 12[th] , 2021: Ircon International Limited, a Miniratna (Category - I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company has announced its financial results for the first quarter ended on June 30[th] , 2021.

Highlights for Q1FY22 Standalone Financials

• Revenue from Operations stood at Rs.1,051 crore as against Rs.477 crore in Q1FY21.

• Total income increased to Rs. 1,103 crore as against Rs.513 crore in Q1FY21.

• Core EBITDA reported was at Rs.71 crore as compared to Rs.34 crore in Q1FY21.

• Profit Before Tax stands at Rs.114 crore as against Rs.60 crore in Q1FY21.

• Profit After Tax increased to Rs.85 crore as against Rs.40 crore in Q1FY21.

• EPS stands at Re.0.90 per Equity share of the Face Value Rs. 2 per share.

Dividend

• BoD approved interim dividend of Re.0.45 per equity share on face value of Rs.2 per share for the financial year 2021-22.

• The BoD has also recommended revised final dividend of Rs.1.70 per equity share instead of Rs.1.32 per equity share recommended earlier in BoD meeting held on 30[th] June, 2021 on face value of Rs.2 per share for the financial year 2020-21, subject to the approval of the shareholders at the AGM.

Q1 FY22 Vs Q4 FY21 (Standalone)

• Revenue from operations for the quarter ended June 30[th] , 2021 stood at Rs.1,051.09 crore as compared to Rs.2,260.39 crore in Q4FY21.

• Total Income stood at Rs.1,103.49 crore in Q1FY22 as against Rs.2,367.78 crore in Q4FY21.

• Core Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs.70.92 crore in Q1FY22, as against Rs.176.68 crore in Q4FY21. The Company’s Core EBITDA margin stood at 6.75%.

• Profit Before Tax (PBT) stood at Rs.114.15 crore for Q1FY22 as compared to Rs.276.12 crore in Q4FY21.The Company’s PBT margin stood at 10.34%.

• Profit After Tax (PAT) reported stood Rs.84.70 crore for Q1FY22 as against Rs.185.33 crore in Q4FY21.The Company’s PAT margin stood at 7.68%.

• Earnings per share (EPS) for the quarter ended Q1FY22 stood at Re.0.90 (Face Value Rs.2 per share).

COVID Impact

The Company operations during the quarter were impacted due to the 2nd wave of Covid-19 pandemic. The Company expects to recover the carrying amount of its financial and nonfinancial assets in the ordinary course of business based on information available on current economic conditions. The Company will continue to monitor closely any pandemic related uncertainty arising from material changes to future economic conditions.

Order Book

In Q1FY22, the company has secured new order of Rs.659 crore from North Frontier Railways (NFR), Ministry of Railways on competitive bidding basis among PSUs. As of June 30[th ] 2021, the total order book stands at Rs.34,312 Crore.

• 1- Railways: Rs. 32,605 crore

• 2- Highways: Rs.1,707 crore

About Ircon International Limited (https://www.ircon.org/; BSE: 541956; NSE: IRCON)

Ircon International Limited is a Miniratna (Category - I) Schedule A Public Sector Enterprise and a leading turnkey Construction Company in the public sector known for quality, commitment and consistency in terms of performance.

The core competence of IRCON is in Railways, Highways & Extra High Tension substation engineering and Construction. The company has executed projects operated in the areas of Railway construction including ballast less track, electrification, tunneling, signal & telecommunication as well as leasing of locos, construction of roads, highways, commercial, industrial & residential buildings and complexes, airport runway and hangars, metro and mass rapid transit system, etc.

IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria and Sri Lanka). Company has completed more than 128 projects in25 countries across the globe and 390 projects in various states in India.

For more information contact:

Shri. Surajit Dutta Bornali Ghosh CFO & Chief Investor Relation Officer Ircon International Limited Concept Public Relations Tel: 011-26530459 M: +91 9899563504 E-mail: surajit.dutta@ircon.org E-mail: bornali@conceptpr.com

DISCLAIMER:

Certain statements that are made in the Press Release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. Ircon International Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.