Ircon International share price
NSE: IRCONBSE: 541956ConstructionSmall Cap
Ircon International Limited · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Sep 2018 · Issue price ₹475
Last close ₹100.49up ₹1.88 (1.91%)BSE ₹100.55
Share price at the NSE close on 28 Oct 2026. Previous close ₹98.61.
28 Oct: open ₹98.10, high ₹102.25, low ₹97.76
52-week range of traded prices to 28 Oct 2026
₹95.76Low, 26 Oct 2026₹186.44High, 26 Dec 2025
- Next results date: the board meets on 4 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹9,451 Cr462nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 18.05
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.42
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.89%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 8.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 4.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.85
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 24,96,82024.7% delivered
About Ircon International
Ircon International is a state-owned engineering and construction company under India's Ministry of Railways that builds railway lines, highways, bridges, tunnels, metro systems and railway electrification.12 It works as an engineering, procurement and construction (EPC) contractor, as a project management consultant and through public private partnerships, for clients in India and abroad.13
It also builds rail lines that carry coal from mines in Odisha, Jharkhand and Chhattisgarh through joint ventures with other state-owned companies, and runs highway projects on build, operate and transfer (BOT) terms, collecting tolls, and on hybrid annuity (HAM) terms, where the government pays in instalments.1 The group has 11 subsidiaries and 7 joint ventures; its solar subsidiary, Ircon Renewable Power, is owned 76:24 by Ircon and Ayana Renewable Power.45 It has completed 408 projects in India and 131 abroad, in 25 countries.6 International projects brought in ₹296.24 crore, 3.49% of its operating turnover, in the year to Mar 2026.7 In Engineering News-Record's 2025 survey it ranked 239th among the top 250 international contractors.8
It was incorporated in 1976.9 Its section of the Udhampur-Srinagar-Baramulla rail link has been fully operational since 7 Jun 2025.10 The President of India, its promoter, held 65.17% of the company on 31 Mar 2026, after the government sold 8.01% to the public through an offer for sale in December 2023.1112 The Government of India appoints its directors through the Ministry of Railways.13
Ircon International key points
Results
- In the quarter to Jun 2026, consolidated operating revenue was ₹1,956 crore against ₹1,786 crore a year earlier, EBITDA (profit before tax, finance cost and depreciation) ₹279 crore against ₹324 crore, and profit after tax ₹92 crore against ₹164 crore.14
- In the year to Mar 2026, consolidated revenue from operations was ₹9,071.05 crore against ₹10,759.58 crore a year earlier, and profit after tax was ₹591.92 crore against ₹727.83 crore.15
- Consolidated EBITDA for the year to Mar 2026 was ₹1,279.3 crore, against ₹1,276.0 crore a year earlier.16
Business segments
- In the year to Mar 2026, railway projects brought in ₹6,994.74 crore of the group's revenue from operations and highway projects ₹1,616.56 crore; electrical, building and other work made up the rest.17
Plants and capacity
- Ircon Renewable Power is building a 500 MW solar plant at Pavagada, Karnataka, at a total project cost of ₹2,801.10 crore, to sell power to South Western Railway.185
- In the year to Mar 2026, 250 MW of the Pavagada plant was commissioned, taking it to 400 MW; at full capacity it is to supply about 1,076 million units (kilowatt-hours) a year.19
Order book
- The order book (work won but not yet carried out) was ₹23,366 crore at the end of June 2026; about 55% of it was won through competitive bidding and the rest by nomination, awarded directly without a tender.20
- At the end of March 2026, railway work made up ₹19,459.35 crore of the order book and highway work ₹3,918.97 crore.6
Customers and partners
- Most of Ircon's projects in India are for government agencies, among them the Ministry of Railways, the National Highways Authority of India, National High-Speed Rail Corporation, Chennai Metro Rail, Dedicated Freight Corridor Corporation and Delhi Metro Rail Corporation.21
- Sales to the Ministry of Railways and the Rail Land Development Authority made up 47.04% of Ircon's standalone sales in the year to Mar 2026, against 49.92% a year earlier.22
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it expects its Algeria railway project to be completed by December 2026; 217 of 219 km of track is laid, the last 2 km awaiting hindrances the client is to clear.23
- The company stated in its annual report for the year to Mar 2026 that it expects the ₹1,780 crore Kaladan road in Myanmar, about 25% complete, to be done by December 2028, though it has no permission from Myanmar's government to work on the route.2425
- The company stated in its annual report for the year to Mar 2026 that it expects Jharkhand Central Railway, its 26% joint venture, to start commercial operation of its rail line between Kathautia and Shivpur in Jharkhand by June 2027.26
Recent events
- On 12 Oct 2026, East Central Railway awarded Ircon a ₹8,62,45,93,012.51 EPC contract for track work on the Gomoh-Koderma and Gaya-Son Nagar sections, to be done in 365 days.27
- On 30 Jun 2026, Ircon completed remaining works on its US$ 91.27 million upgrade of the Maho to Omanthai railway line in Sri Lanka, financed by an Indian line of credit, and the defect liability period (when it must fix defects) began.28
- On 22 Jun 2026, Tripura State Electricity Corporation awarded a 26:74 joint venture of Ircon and Badri Rai & Company a ₹7,63,10,28,794 Agartala underground cable and smart grid contract including GST; Ircon's share is ₹1,98,40,67,486.40.2930
- On 14 May 2026, the Ircon-Soma Tollway joint venture, 50% owned by Ircon, handed its toll road back to the National Highways Authority of India when its concession period (the fixed term to run the road and collect tolls) ended.3132
Litigation and regulatory matters
- On 26 Oct 2026, the Uttarakhand High Court told tax officials not to pass an order, before the next hearing, on Ircon's challenge to a GST notice over ₹72.41 crore of input tax credit (tax paid on purchases, set off against tax due).33
- AFCON raised a ₹359.72 crore dispute with Ircon over work package T-74R-A; the arbitral tribunal's majority made an award in June 2026, and on 23 Sep 2026 the company said it would challenge the award in the Delhi High Court.34
- The Patna High Court on 25 Feb 2026 upheld VAT demands of about ₹78.64 crore over 3 years on Ircon's Ganga Bridge project; on 16 Mar 2026 the Supreme Court stayed that judgment pending Ircon's appeals, and the company's documents give no later outcome.3536
- As of its annual report for the year to Mar 2026, Ircon's audit and nomination committees had not been properly constituted through the year because the board lacked enough independent directors (outside directors with no ties to the company).37
Last updated
All 37 sources, each with its page
- 1. Annual report, 15 Sep 2026, page 33
- 2. Investor presentation, 12 Aug 2026, page 5
- 3. Annual report, 15 Sep 2026, page 180
- 4. Annual report, 15 Sep 2026, page 49
- 5. Annual report, 15 Sep 2026, page 71
- 6. Annual report, 15 Sep 2026, page 40
- 7. Annual report, 15 Sep 2026, page 12
- 8. Annual report, 15 Sep 2026, page 53
- 9. Annual report, 15 Sep 2026, page 5
- 10. Annual report, 15 Sep 2026, page 11
- 11. Annual report, 15 Sep 2026, page 48
- 12. Annual report, 15 Sep 2026, page 97
- 13. Annual report, 15 Sep 2026, page 96
- 14. Investor presentation, 12 Aug 2026, page 11
- 15. Annual report, 15 Sep 2026, page 48
- 16. Investor presentation, 12 Aug 2026, page 18
- 17. Annual report, 15 Sep 2026, page 375
- 18. Annual report, 15 Sep 2026, page 59
- 19. Annual report, 15 Sep 2026, page 35
- 20. Investor presentation, 12 Aug 2026, page 25
- 21. Annual report, 15 Sep 2026, page 104
- 22. Annual report, 15 Sep 2026, page 118
- 23. Annual report, 15 Sep 2026, page 52
- 24. Annual report, 15 Sep 2026, page 53
- 25. Annual report, 15 Sep 2026, page 53
- 26. Annual report, 15 Sep 2026, page 73
- 27. Exchange filing, 12 Oct 2026, page 1
- 28. Annual report, 15 Sep 2026, page 52
- 29. Exchange filing, 23 Jun 2026, page 1
- 30. Exchange filing, 23 Jun 2026, page 2
- 31. Annual report, 15 Sep 2026, page 72
- 32. Investor presentation, 12 Aug 2026, page 6
- 33. Exchange filing, 26 Oct 2026, page 2
- 34. Exchange filing, 23 Sep 2026, page 2
- 35. Exchange filing, 17 Mar 2026, page 1
- 36. Exchange filing, 17 Mar 2026, page 2
- 37. Annual report, 15 Sep 2026, page 96
Results
Consolidated; ₹ crore.Ircon International quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −9.9%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −21.6%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,956 Crdown 38.67%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹92 Crdown 51.93%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 4.7%
Revenue by quarter
Peak revenue ₹3,412 Cr, quarter to Mar 2025; lowest ₹1,786 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,448 | 2,613 | 3,412 | 1,786 | 1,977 | 2,119 | 3,189 | 1,956 |
| Net profit | 206 | 86 | 212 | 164 | 137 | 100 | 191 | 92 |
| Net margin | 8.4% | 3.3% | 6.2% | 9.2% | 6.9% | 4.7% | 6.0% | 4.7% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹9,071 Crdown 15.69%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹592 Crdown 18.67%
- Net margin
- 6.5%
Revenue by year
Peak revenue ₹12,331 Cr, year to Mar 2024; lowest ₹4,798 Cr, year to Mar 2019
Net profit by year, a loss in red
| ₹ crore | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,798 | 5,392 | 5,342 | – | 10,368 | 12,331 | 10,760 | 9,071 |
| Net profit | 450 | 485 | 391 | – | 765 | 930 | 728 | 592 |
| Net margin | 9.4% | 9.0% | 7.3% | – | 7.4% | 7.5% | 6.8% | 6.5% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share. The year to Mar 2022 is not shown: its results were filed at the wrong scale, a power of ten off the company's own year-to-date figures.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- DomesticDomestic, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹9,084 Crdown 15.48%95.6%
- InternationalInternational, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹418 Crup 9.07%4.4%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history.Ircon International PE ratio and valuation
Price to earnings
At or below today's level on 32% of 1,019 trading days over the last 5 years.
LowestHighest
Its median20.87Industry median13.39
Price to book
At or below today's level on 56% of 1,941 trading days since Nov 2018.
LowestHighest
Its median1.09Industry median1.34
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 39% of 1,992 trading days since Oct 2018.
LowestHighest
Its median2.65%Industry median0.67%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −24.6% | −18.1% | −10.0% | 1.6% |
| 3 years | +28.8% | −8.0% | +38.4% | 1.6% |
| 5 years | +24.5% | +8.8% | +11.4% | 3.3% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
46 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 46 of the 46 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 46 funds holding Ircon International
- AddedAdded. Funds that held more shares than at the end of the month before.
- 15
- CutCut. Funds that held fewer shares than at the end of the month before.
- 31
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 3
| Fund | |||
|---|---|---|---|
 Groww Nifty India Railways PSU ETFGroww Mutual Fund | 6,75,256 | 4.62% | ₹7.91 Cr |
 Nippon India Nifty Smallcap 250 Index FundNippon India Mutual Fund | 5,03,822 | 0.17% | ₹5.90 Cr |
 HDFC Nifty Smallcap 250 ETFHDFC Mutual Fund | 3,95,349 | 0.17% | ₹4.63 Cr |
 SBI Nifty Smallcap 250 Index FundSBI Mutual Fund | 2,55,931 | 0.17% | ₹3.00 Cr |
| Groww Nifty India Railways PSU Index FundGroww Mutual Fund | 2,45,917 | 4.64% | ₹2.88 Cr |
 Motilal Oswal Nifty Smallcap 250 Index FundMotilal Oswal Mutual Fund | 1,81,544 | 0.17% | ₹2.13 Cr |
 ICICI Prudential Nifty Smallcap 250 Index FundICICI Prudential Mutual Fund | 1,14,759 | 0.17% | ₹1.34 Cr |
| HDFC Nifty Smallcap 250 Index FundHDFC Mutual Fund | 1,10,057 | 0.17% | ₹1.29 Cr |
| Nippon India Nifty 500 Equal Weight Index FundNippon India Mutual Fund | 87,003 | 0.23% | ₹1.02 Cr |
 JioBlackRock Nifty Smallcap 250 Index FundJio BlackRock Mutual Fund | 57,431 | 0.17% | ₹0.67 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Ircon International competitors and peers
Civil Construction, 169 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Ircon International in market cap.Construction companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 IRB Infrastructure DevelopersIRB | 19,409 | 20.34 | – | −2.2% | −85.4% | 4.7% | 7.3% | 1.06% |
 NBCC (India)NBCC | 18,857 | 25.39 | 6.25 | +3.5% | +30.6% | 27.0% | 20.0% | 1.35% |
 Engineers IndiaENGINERSIN | 14,408 | 18.37 | 4.58 | +16.3% | +41.6% | 27.0% | 22.5% | 1.95% |
 Techno Electric & Engineering CompanyTECHNOE | 9,889 | 22.94 | 2.38 | +38.7% | −6.5% | 10.9% | 10.6% | 0.82% |
 RITESRITES | 9,447 | 22.63 | 3.52 | +10.6% | +7.9% | 15.7% | 17.4% | 4.10% |
 KEC InternationalKEC | 9,002 | 16.26 | 1.46 | +5.1% | −8.9% | 9.6% | 12.4% | 1.63% |
 Welspun EnterprisesWELENT | 8,935 | 29.23 | 2.94 | +0.6% | −3.1% | 10.9% | 12.7% | 0.46% |
 Afcons InfrastructureAFCONS | 7,673 | 53.42 | 1.41 | −11.9% | −73.0% | 2.7% | 7.1% | 0.96% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Ircon International dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹3.10 a share, year to Mar 2024.
| Ex-date | Type | Per share |
|---|---|---|
| 17 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹0.70 |
| 17 Feb 2026 | Interim | ₹1.20 |
| 11 Sep 2025 | Final | ₹1.00 |
| 17 Feb 2025 | Interim | ₹1.65 |
| 5 Sep 2024 | Final | ₹1.30 |
| 16 Feb 2024 | Interim | ₹1.80 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Ircon International announcements
Oct 2026
28 Oct · Board meeting
12 Oct · Business
9 Oct · Business
1 Oct · Legal
The exchange asked on 30 Sep 2026
Ircon International share price by year
Each calendar year to 2025.Ircon International share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 177.65 | −17.4% | 221.43 | 138.17 |
| 2024 | 215.01 | +25.4% | 336.80 | 174.30 |
| 2023 | 171.40 | +186.9% | 177.95 | 51.70 |
| 2022 | 59.75 | +32.3% | 65.15 | 35.35 |
| 2021 | 45.15 | +3.2% | 53.20 | 40.23 |
| 2020 | 43.75 | +8.8% | 58.94 | 30.11 |
| 2019 | 40.20 | −9.8% | 44.72 | 33.64 |
| 2018 | 44.56 | – | 46.35 | 34.27 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2018 is from its first session, 28 Sep 2018.
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 97.60 | 99.99 | 97.10 | 98.61 | 98.87 | 16,76,897 | 32.9% |
| 26 Oct 2026 | 97.00 | 99.48 | 95.76 | 97.58 | 97.68 | 19,75,385 | 33.8% |
| 23 Oct 2026 | 100.30 | 100.30 | 95.95 | 97.62 | 97.38 | 24,95,518 | 36.3% |
| 22 Oct 2026 | 101.39 | 101.39 | 99.63 | 100.32 | 100.33 | 17,56,725 | 29.2% |
| 21 Oct 2026 | 104.88 | 104.88 | 101.00 | 101.57 | 102.48 | 21,58,520 | 31.3% |
| 19 Oct 2026 | 107.00 | 107.49 | 103.80 | 104.14 | 105.22 | 16,40,229 | 31.0% |
| 16 Oct 2026 | 106.33 | 108.16 | 105.31 | 106.62 | 106.75 | 26,96,025 | 20.8% |
| 15 Oct 2026 | 106.77 | 107.50 | 105.88 | 106.33 | 106.56 | 21,97,118 | 25.2% |
| 14 Oct 2026 | 106.10 | 108.99 | 105.23 | 106.77 | 107.42 | 41,38,478 | 20.2% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 20 May 2021 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 3 Apr 2020 | Split | 0.2000 | Each share became 5. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- IRCON
- BSE code
- 541956
- ISIN
- INE962Y01021
- Industry
- Construction
- Website
- www.ircon.org
- CIN
- L45203DL1976GOI008171
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1976
- Registered office
- Plot no. C - 4, District Centre, Sake, New Delhi 110017, Delhi
- Share registrar
- Alankit Assignments Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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