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Revenue
₹1,343 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
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Quarter read
What the record says.
J Kumar Infra reported H1 FY26 revenue of ₹2,826 crore, up 10% YoY, with EBITDA margin of 14.6% (flat YoY). PAT grew 10% to ₹195 crore. The order book stood at ₹20,160 crore as of September 2025. Management revised FY26 revenue guidance down to ₹6,200-6,300 crore (from ₹6,500 crore) due to extended monsoon impacting Q2 execution. Order inflow guidance of ₹5,000-6,000 crore for FY26 is maintained, with ₹1,200 crore L1 in a Lucknow convention center. Capex for FY26 is guided at ~₹500 crore, primarily for TBMs. Margins are expected to remain in 14-15% range, with aspiration to reach 15-16% in two years. Key risk: execution delays from monsoon or project-specific approvals could further pressure revenue targets.
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Guidance to track
- Management lowered revenue guidance from ₹6,500 crore to ₹6,200-6,300 crore due to extended monsoon impact in Q2, implying ~11% YoY growth.
- Management expects to bag ₹5,000-6,000 crore of new orders in FY26, with ₹1,200 crore already L1 and bids worth ₹2,000+ crore submitted.
- Management guided EBITDA margin of 14-15% for FY26, with aspiration to improve to 15-16% over the next two years.
- FY26 capex guided at ~₹500 crore (including ₹100 crore maintenance), reducing to ~₹200 crore in FY27.
Risks flagged
- Heavy and extended monsoon impacted Q2 execution, leading to downward revision of revenue guidance. Similar weather events could affect H2 performance.
- Order inflow target of ₹5,000-6,000 crore depends on timely bidding and award of large infrastructure projects, which may slip to next fiscal.
- Management has an enabling resolution for QIP, which could dilute existing shareholders if executed, though no immediate plans were stated.
- Execution of the Versova coastal road project is pending tree-cutting permissions and alignment changes, which could delay revenue recognition.
Key quotes
- Where others see complexity, we see opportunity.
- We are very confident of like uh the inflow of around 5,000 to 6,000 crores of projects in this uh F26.
- We'll be able to maintain this 14 to 15% of margin in this uh year as well. there's no absolutely no issues and going forward also we are intending to go a percent notch higher.
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