Ircon International Limited (IRCON) is a leading engineering and construction company. The public sector undertaking of the Railway Ministry specialises in building transport infrastructure. The New Delhi-headquartered company has emerged as a leading turnkey construction entity.
The company is primarily involved in building transport infrastructure like railway electrification, signal and telecommunication, construction of highways, roads, airports, mass rapid transport system and airport runways. The company also leases locomotive and builds industrial, commercial and residential complexes for public sector entities.
Ircon operates in several Indian states and 22 other countries across Asia, Europe and Africa.
Incorporated on April 28, 1976, the company was originally christened Indian Railway Construction Company Limited. It was established to utilise the experience of the Indian Railways in helping developing nations set up and run their own railways. The company also offered its services to execute railway projects for the private sector.
Subsequently, its name was changed to Ircon International Limited in October 1995.
The company was listed in the bourses on September 28, 2018, after the Indian government disinvested 10.53% of its stake through an Initial Public Offer (IPO).
In March 2021, the Government of India sold off 16% of its stake in the company. The government again divested 8% of its shareholding through an offer for sale in December 2023. As of December 31, 2023, the government shareholding in the company stood at 34.83%.
The market capitalisation of Ircon International Ltd stood at over 19,400 crore as of January 15, 2024. Ircon share price has surged over 353% in the last three years.
Ircon International Ltd business operations
Ircon has completed over 300 projects in India and 100 plus projects abroad.
It has taken up various infrastructure projects in Algeria, Angola, Bangladesh, Indonesia, Iran, Iraq, Israel, Italy, Jordan, Lebanon, Malaysia, Nepal, Nigeria, Saudi Arabia, Syria, Turkey and the United Kingdom. The company’s business footprint has also reached Mozambique, Ethiopia, Tanzania, Zambia and Sri Lanka.
As of March 31, 2023 (FY23), Ircon had an order book of ₹35,195 crore. This included domestic projects worth ₹31,887 crore and foreign projects valued at ₹3,308 crore. The portfolio comprises 50 projects, including five international projects in Algeria, Bangladesh, Algeria, Myanmar, Nepal and Sri Lanka.
The projects secured during FY23 included procurement of design, installation, testing, commissioning and certifying of signalling and telecommunication systems from Maho to Anuradhapura in Sri Lanka. The orders also included another project for development of industrial estates in Jammu and Kashmir.
The company runs its domestic operations through a network of 65 project offices including four regional offices. It has six overseas project offices in Sri Lanka, Bangladesh, Malaysia, Algeria and Myanmar.
Ircon International Financial Highlights
- Revenue: Ircon International reported revenue of ₹9,501.97 crore in FY26 vs ₹11,131.03 crore in FY25. It showed a decrease of 14.64% on a yearly basis.
- Operating Profit: Ircon International reported an operating profit of ₹766.50 crore in FY26 vs ₹939.02 crore in FY25. It showed a decrease of 18.37% on a year-on-year basis.
- Net Profit: Ircon International reported a net profit of ₹591.92 crore in FY26 vs ₹727.83 crore in FY25. It showed a decrease of 18.67% on a yearly basis.
Ircon International Quarterly Result Highlights
- Ircon International reported revenue of ₹3,291.19 crore in Mar 2026, compared with ₹2,206.22 crore in Dec 2025, representing an increase of 49.18% on a quarter-on-quarter (QoQ) basis.
- Ircon International reported an operating profit of ₹247.83 crore in Mar 2026, compared with ₹134.69 crore in Dec 2025, representing an increase of 84.00% on a quarter-on-quarter (QoQ) basis.
- Ircon International reported a profit of ₹191.46 crore in Mar 2026, compared with ₹99.85 crore in Dec 2025, reflecting an increase of 91.75% on a QoQ basis.
- The earnings per share (EPS) of Ircon International stood at ₹7.73 during Mar 2026.
