Ircon International Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

Ircon International surged 11.39%, while Rail Vikas Nigam advanced 3.28%, as the reports boosted investor sentiment in these stocks.

According to media reports, the Ministry of Railways has moved a formal proposal to merge the two companies to create a larger and more integrated railway infrastructure entity. The proposal will now undergo a standard review process, which includes approvals from the Ministry of Finance, the Department of Public Enterprises and the Cabinet Committee on Economic Affairs (CCEA).

If approved, the merger is expected to combine Rail Vikas Nigam?s project management capabilities with Ircon International?s expertise in turnkey railway construction and infrastructure development. The move is also seen as a step towards enhancing execution capacity, improving operational efficiency and strengthening the international presence of the combined entity.

Meanwhile, BSE has sought clarification from the companies regarding the news report, and a response is awaited.

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Ircon International has fixed 17 February 2026 as record date for interim dividend of Rs 1.20 per equity share of face value of Rs 2 for FY 2025-26. The dividend will be paid from 26 February 2026.

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However, revenue from operations declined 18.89% to Rs 2,119.04 crore during the quarter, compared with Rs 2,612.86 crore in the same quarter last year.

Profit from operations before tax stood at Rs 134.69 crore in Q3 FY26, up 2.17%, compared with Rs 131.82 crore recorded in the same quarter last year.

EBITDA were at Rs 269.3 crore in Q3 FY26, up 23.36% as compared with Rs 218.3 crore in Q3 FY25. The company?s EBITDA margin stood at 12.2% in Q3 FY26.

The company's revenue from international customers fell 38.47% YoY to Rs 49.52 crore in Q3 FY26, while revenue from domestic customers decreased 18.27% YoY to Rs 2,069.52 crore.

As of 31 December 2025, the total order book stands at Rs 23,801 crore, with the Railways segment accounting for Rs 17,781 crore, Highways contributing Rs 4,297 crore, and other segments making up Rs 1,723 crore.

The board of directors has approved an interim dividend of Rs 1.20 per equity share of Rs 2 each for the financial year 2025-26.

On its outlook, the company is well-positioned to capitalize on India?s rapidly evolving infrastructure landscape. With robust government support through initiatives like PM Gati Shakti, Bharatmala, Sagarmala, and the Smart Cities Mission, alongside increased CAPEX of Rs 12.20 lakh crore and new high-speed rail and freight corridors proposed in Budget 2026, the company expects strong growth opportunities across railways, roadways, and urban infrastructure projects. Leveraging its existing order book and strategic capabilities, the company is poised to benefit from these developments and strengthen its market presence.

Ircon International is a public sector construction company with an emphasis on infrastructure projects, with a specialization in the execution of railway projects on a turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substations and distribution, airport construction, commercial complexes, as well as metro rail works.

Shares of Ircon International shed 0.93% to Rs 154.90 on the BSE.

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Net profit of Ircon International rose 16.25% to Rs 100.66 crore in the quarter ended December 2025 as against Rs 86.59 crore during the previous quarter ended December 2024. Sales declined 18.90% to Rs 2119.04 crore in the quarter ended December 2025 as against Rs 2612.86 crore during the previous quarter ended December 2024.

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