9M Total Income
₹321.18 crore
N/A
Total income for the nine months ended FY26.
DUCONINFRATECHNOLOGIES
Information Technology
10 Feb 2026
Ducon Infratechnologies Ltd — Q3 FY26
Ducon Infratechnologies reported Q3 FY26 total income of ₹94.31 crore with EBITDA of ₹5.84 crore (6.19% margin) and net profit of ₹2.31 crore.
✓ Verified against BSE filing
2-Min Summary
Ducon Infratechnologies reported Q3 FY26 total income of ₹94.31 crore with EBITDA of ₹5.84 crore (6.19% margin) and net profit of ₹2.31 crore. The company is positioning itself at the intersection of environmental engineering, clean energy, and digital optimization, with early investments in carbon capture R&D and the launch of an AI-driven energy platform. Management highlighted structural tailwinds from tightening emission norms, industrial capex, and the government's ₹20,000 crore CCUS allocation. However, margins remain modest due to project mix and timing, and the company does not disclose order book or revenue breakdown. Key risks include execution delays in long-cycle EPC projects and the nascent stage of CCUS and AI platforms, which have yet to contribute revenue. The company aims to improve margins through scale and better project selection, but near-term visibility remains limited.
Key Numbers
9M EBITDA Margin
6.48%
N/A
EBITDA margin for the nine months ended FY26.
9M Net Profit Margin
2.84%
N/A
Net profit margin for the nine months ended FY26.
Promoter Holding
38%
N/A
Current promoter shareholding in the company.
Management Guidance
CCUS pilot testing underway, demonstration plant planned
The company is currently conducting pilot testing of its solvent-based carbon capture technology and is designing a small industrial-size demonstration unit with a client.
ai_strategyAI platform launch expected in a couple of months
The AI-IQ Energy AI platform is being tested with existing clients and is expected to be fully launched for customer solicitation in the next few months.
growthDebt reduction continues
Management stated they have already reduced debt and plan to continue reducing it in the future.
otherKey Risks
Execution delays in long-cycle projects
Management acknowledged that project execution can be delayed due to client readiness, civil work by others, and interface with other equipment, impacting quarterly revenue recognition.
medium · management_commentaryLow promoter holding and negative cash flows
An analyst raised concerns about low promoter holding (38%) and negative operating cash flows. Management defended the holding level and attributed cash flow issues to milestone-based payments.
medium · analyst_questionCCUS and AI platforms yet to generate revenue
Both the carbon capture and AI platform initiatives are in early stages (pilot/testing) with no revenue contribution yet, and management declined to provide a timeline for commercialization.
high · data_observationFGD regulatory relaxation risk
An analyst noted that larger companies have indicated a reduction in FGD business due to regulatory relaxations. Management argued FGD is here to stay, but the risk remains.
medium · analyst_questionNotable Quotes
We have done lab validation and we are right now currently doing pilot testing.
We are not paying any royalty to anyone. There is no royalty being paid.
We are getting into a lot of new areas which we are very excited about and confident.