IRCON International wins ₹862 crore railway EPC order

IRCON International reported receiving a Letter of Acceptance from East Central Railway for an EPC contract valued at ₹862.46 crore, with execution scheduled over 365 days. The project covers the construction of third and fourth railway lines on the Son Nagar–Andal route, including the Gomoh–Koderma and Gaya–Son Nagar sections. The scope includes ballast and permanent way materials, track laying and linking, and related works designed for a 32.5-tonne axle load. 🚆

The contract adds to the company’s railway-focused infrastructure pipeline. Its consolidated order book stood at ₹23,366 crore as of 30 Jun 2026, of which Railways contributed ₹17,989 crore. Q1FY27 consolidated total income reached ₹2,042.7 crore, compared with ₹1,892.4 crore in Q1FY26. The new award is equivalent to about 3.7% of the reported order book, providing additional visibility for execution-led revenue in the core rail engineering business. 🏗️

OI Charts data showed the stock closed at ₹104.73 on 12 Oct 2026, up 0.16% for the session, with volume of 2,400,485 shares. The stock had declined 2.0% over five sessions and 9.1% over 20 sessions, while trading between ₹101.60 and ₹186.44 over its 52-week range. The limited daily move indicates that the order announcement had not yet produced a large price reaction in the session data.

The next focus is execution against the 365-day timeline, including project mobilisation, order conversion into revenue and any disclosures on milestone progress. Investors will also track the company’s railway order inflow, margin performance and the pace at which its existing ₹17,989 crore railway order book is executed. The award follows a June 2026 work contract won by an IRCON joint venture from TSECL worth ₹763.10 crore, in which IRCON held a 26% share. ⚙️

Source: CNBC-TV18 and Sahi, 12 Oct 2026

Not investment advice. For informational purposes only.