Ircon Q1 FY23 profit surges, shares rally 89%

11 Aug 2023 CW Team

Ircon International, a subsidiary of Indian Railways, witnessed an impressive share price rally of 89%, reaching Rs 107.6 on BSE, attributed to the firm's substantial 29.6% YoY increase in consolidated net profit to $1.874 billion for Q1 FY23. The company's robust financial performance was reflected in both revenue and order book figures.

In the corresponding quarter of the previous fiscal year, Ircon International had recorded a net profit of $1.446 billion on a topline of $20.019 billion. During the reported period, the infrastructure company achieved a remarkable 35.7% YoY surge in its consolidated revenue from operations, reaching $27.122 billion.

Operating metrics also demonstrated strong growth, with the company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surging 31.2% YoY to $2.088 billion in the first quarter. Ircon's EBITDA margin for the reporting quarter stood at 7.8%, slightly down from 8% in the corresponding period of the previous fiscal year.

The total order book as of June 30, 2023, amounted to $324.86 billion, with the railway segment accounting for $236.13 billion, the highway segment at $69.06 billion, and other projects at $19.67 billion. The company highlighted its increasing share of orders secured through competitive bidding, which reached 55% of the total order book as of June 30, 2023.

Ircon International, a Miniratna (Category - 1) public sector enterprise, is a prominent turnkey construction company renowned for its expertise in railway and highway projects.

As of 10:14 am, the stock was trading 6.8% higher at Rs 106.5 on BSE. Over the year-to-date period, the stock has surged 80%, displaying an impressive 90% rally over the past six months. Remarkably, the stock has delivered a significant 175% return over the past year.

Technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), further underscore the bullish sentiment surrounding the stock's performance.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..