Afcons Infrastructure (AFCONS) investor relations material

Executive summary

• Q1 FY27 total income was ₹2,727 crore, down 20.3% year-over-year, with EBITDA at ₹263 crore and PAT at ₹30 crore; order book stood at ₹43,290 crore as of June 2026, and order inflow was ₹13,219 crore in the quarter.

• The company operates primarily in the EPC segment, with a diversified order book across marine, surface transport, urban infrastructure, hydro, and oil & gas, and 26% overseas exposure.

• Major milestone achieved with the inauguration of the Mumbai-Pune Expressway Missing Link, featuring India's tallest road cable-stayed bridge.

• Several projects received British Safety Council's International Safety Awards and other recognitions for innovation, safety, and sustainability.

• Standalone and consolidated unaudited financial results for Q1 FY27 were reviewed and approved by the Board on 7th August 2026.

Financial highlights

• Q1 FY27 total income declined 20.3% year-over-year; EBITDA margin was 9.6%, down from 13% in Q1 FY26 but up from 6.1% in Q4 FY26.

• PAT margin recovered to 1.1% from -3.2% in Q4 FY26, but down from 4.0% in Q1 FY26; standalone net profit after tax and exceptional items was ₹36.88 crore, consolidated was ₹30.30 crore.

• Exceptional item of ₹76.51 crore recognized due to estimated impact of new Labour Codes.

• Net debt to equity stood at 0.68x–0.7x; cash and cash equivalents at year-end FY26 were ₹440 crore.

• Cash flow from operations was negative in Q1, a typical trend due to slow customer payments post year-end.

Outlook and guidance

• Execution challenges are easing, with land and compensation issues being resolved; significant uptick in execution expected in Q3 and Q4.

• Order inflow guidance for FY27 is ₹30,000 crore, supported by a robust bid pipeline of ₹1.5 lakh crore for the next nine months and ₹3.96 lakh crore for two years.

• Strategy emphasizes sustainable, profitable growth, cost management, and expanding global footprint.

• Margins and quarterly results are expected to vary based on project mix; quarterly results may not be indicative of annual results.

• CapEx for FY27 is projected at ₹700–800 crore; FY28 CapEx expected at ₹600–650 crore.