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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..