Ircon International Limited (IRCON), a Navratna public sector enterprise under the Ministry of Railways, reported consolidated results for the fourth quarter and year ended 31 March 2026. Consolidated total income for FY26 fell to Rs 95.02 billion (bn) from Rs 111.31 bn a year earlier, a decline of 14.6 per cent, while revenue from operations declined to Rs 90.71 bn from Rs 107.596 bn, down 15.7 per cent. Earnings before interest, tax, depreciation and amortisation was Rs 12.79 bn, broadly stable year on year, and profit after tax stood at Rs 5.92 bn, down 18.7 per cent. In the fourth quarter the company recorded a marked sequential improvement, with total income of Rs 32.91 bn compared with Rs 22.06 bn in the previous quarter, an increase of 49.2 per cent, while revenue from operations rose by 50.5 per cent to Rs 31.89 bn. Quarterly earnings before interest, tax, depreciation and amortisation improved to Rs 3.89 bn and profit after tax rose to Rs 1.92 bn, representing strong quarter on quarter growth despite being lower than the year earlier quarter. On a standalone basis the company reported total income of Rs 89.79 bn for the year with revenue from operations of Rs 84.79 bn, and standalone profit after tax of Rs 6.19 bn. The board recommended a final dividend of Re zero point seven per equity share of Rs two face value, which is subject to shareholder approval, in addition to the interim dividend of Rs one point two per share already paid. The order book stood at Rs 249.84 bn, comprising Rs 194.59 bn in railways, Rs 39.19 bn in highways and Rs 16.06 bn in other projects. The company said government infrastructure initiatives and enhanced capital allocation underpin a constructive sector outlook and that IRCON is positioned to leverage the opportunities in rail and road construction. Management indicated ongoing focus on execution, cost control and project mobilisation to restore full year momentum. Results reflect a mixed operating cycle with improving quarterly performance and headwinds at the annual level.