J. Kumar Infraprojects (JKIL) Q4 25/26 earnings summary

Executive summary

• FY26 revenue grew 1% year-over-year to ₹5,723 crore, with Q4 revenue moderating by 3% to ₹1,585 crore compared to Q4FY25.

• EBITDA for FY26 was ₹823 crore (margin 14.4%), nearly flat year-over-year, while Q4 EBITDA declined 5% to ₹224 crore (margin 14.1%).

• PAT for FY26 was ₹387 crore (margin 6.8%), down 1% year-over-year; Q4 PAT was ₹110 crore (margin 7%), down 3% from Q4FY25.

• Cash PAT for FY26 increased 4% year-over-year to ₹583 crore, with Q4 Cash PAT up 11% to ₹176 crore.

• The Board recommended a dividend of ₹4 per equity share for FY26, subject to shareholder approval.

Financial highlights

• FY26 revenue from operations grew 1% year-over-year to INR 5,723 crore; EBITDA margin was 14.4%, and PAT margin was 6.8%.

• FY26 EBIT margin improved to 12.3% from 12.1% in FY25.

• Cash flow from operations in FY26 was ₹1,128 crore, up from ₹376 crore in FY25.

• Working capital days improved to 99 from 112 year-over-year.

• Consolidated EPS (basic and diluted) for FY26 was ₹51.13 and ₹51.70, respectively.

Outlook and guidance

• FY27 revenue expected to grow by 15%, targeting over INR 6,500 crore, with similar growth in bottom line.

• EBITDA margin guidance is 14-16%, with PAT margin around 7%.

• Order inflow guidance for FY27 is INR 9,000-10,000 crore, with potential to exceed this.

• CapEx planned at INR 200-250 crore annually for FY27 and FY28.

• The company continues to monitor regulatory changes, especially regarding the new Labour Codes.