Order Intake FY26
₹5,654 Cr
-53% YoY
Order intake fell sharply from ~₹12,000 Cr in FY25, but management guided for ₹15,000 Cr in FY27.
HINDUSTANCONSTRUCTION
Infrastructure
14 May 2026
Hindustan Construction Company Ltd — Q4 FY26
HCC reported a 142% YoY surge in standalone PAT to ₹206 crore for FY26, driven by operational efficiency and cost discipline.
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2-Minute Summary
✦ AI-Generated from Full Transcript
HCC reported a 142% YoY surge in standalone PAT to ₹206 crore for FY26, driven by operational efficiency and cost discipline. However, standalone revenue declined 18% YoY to ₹3,937 crore, reflecting a low order book. The company targets ₹15,000 crore order intake in FY27, aiming for an order backlog of ₹24,000-27,000 crore by year-end. Debt was reduced 38% YoY to ₹1,995 crore, with plans to become debt-free in the near term. Management emphasized disciplined bidding and risk management. Key risks include delayed conversion of the ₹840 crore L1 position and potential dilution from a proposed ₹800 crore rights issue.
HCC ने वित्त वर्ष 2026 में अपने मुनाफे में 142% का उछाल दर्ज किया, जो ₹206 करोड़ रहा। यह कंपनी की कुशलता और खर्च पर नियंत्रण के कारण हुआ। लेकिन कंपनी की कमाई में 18% की गिरावट आई, जो ₹3,937 करोड़ रही, क्योंकि उसके पास कम ऑर्डर थे। कंपनी अब वित्त वर्ष 2027 में ₹15,000 करोड़ के नए ऑर्डर लेने का लक्ष्य रखती है, ताकि साल के अंत तक कुल ऑर्डर ₹24,000-27,000 करोड़ हो जाएं। कर्ज में 38% की कमी करके ₹1,995 करोड़ कर लिया गया है, और जल्द ही कर्ज-मुक्त होने की योजना है। प्रबंधन ने सावधानी से बोली लगाने और जोखिम प्रबंधन पर जोर दिया। मुख्य जोखिमों में ₹840 करोड़ के L1 ऑर्डर का देर से मिलना और ₹800 करोड़ के राइट्स इश्यू से शेयरों का पतला होना शामिल है।
Key Numbers
Order Backlog
₹13,000 Cr
flat YoY
Order backlog as of March 2026 stood at ₹13,000 Cr, excluding ₹1,100 Cr LOA received in April.
Debt Reduction
₹1,995 Cr
-38% YoY
Standalone debt reduced from ₹3,218 Cr in FY25, with annual interest savings of ₹112 Cr expected in FY27.
Bid Pipeline
₹43,800 Cr
N/A
Management plans to submit bids worth ₹43,800 Cr in Q1-Q2 FY27, with ₹26,000 Cr already under evaluation.
Management Guidance
Order intake target of ₹15,000 Cr for FY27
Management guided for ₹15,000 crore of order booking in FY27, which would lift order backlog to ₹24,000-27,000 crore by year-end.
Management guidance growthDebt-free target in short to medium term
Management aims to make HCC completely debt-free in the relatively short term, with further prepayments planned in FY27.
Management guidance capexEBITDA margin to sustain at 14-15%
CFO stated that EBITDA margins are expected to be maintained in the 14-15% range on an average basis.
Management guidance marginsRevenue growth of 20-25% long-term
Management indicated long-term revenue growth of 20-25% from the current low base, driven by order book ramp-up.
Management guidance revenueKey Risks
Delayed conversion of L1 position
The ₹840 crore L1 position has remained unconverted for two quarters due to administrative issues with the client, posing a risk to near-term order inflow.
medium · analyst_questionPotential equity dilution from rights issue
An enabling resolution for ₹800 crore fundraise, likely via rights issue, raises concerns about shareholder dilution, especially after two previous rights issues.
medium · analyst_questionLow order intake in FY26
Order intake of ₹5,654 Cr in FY26 was significantly below expectations, indicating execution challenges or conservative bidding.
high · data_observationInflation and commodity price risk
Rising commodity prices due to global conflicts could impact project costs, though management believes escalation clauses and client quality provide insulation.
low · analyst_questionNotable Quotes
We are certainly not going to make any compromises on pricing of bids, and execution wise as far as safety and quality are concerned, there's no compromises there either.
Our strategic imperative very clearly is that we want the company to be debt free as early as possible.
We are targeting to book 15,000 crores of order intake this year, which if we achieve, we'll be at almost 26-27,000 crores kind of order backlog by end of FY27.
Frequently Asked Questions
What was Hindustan Construction's revenue in Q4 FY26?
Hindustan Construction reported revenue of ₹992 Cr in Q4 FY26, representing a -18% change compared to the same quarter last year.
What guidance did Hindustan Construction management give for FY27?
Order intake target of ₹15,000 Cr for FY27: Management guided for ₹15,000 crore of order booking in FY27, which would lift order backlog to ₹24,000-27,000 crore by year-end. Debt-free target in short to medium term: Management aims to make HCC completely debt-free in the relatively short term, with further prepayments planned in FY27. EBITDA margin to sustain at 14-15%: CFO stated that EBITDA margins are expected to be maintained in the 14-15% range on an average basis. Revenue growth of 20-25% long-term: Management indicated long-term revenue growth of 20-25% from the current low base, driven by order book ramp-up.
What are the key risks for Hindustan Construction in FY27?
Key risks include Delayed conversion of L1 position — The ₹840 crore L1 position has remained unconverted for two quarters due to administrative issues with the client, posing a risk to near-term order inflow.; Potential equity dilution from rights issue — An enabling resolution for ₹800 crore fundraise, likely via rights issue, raises concerns about shareholder dilution, especially after two previous rights issues.; Low order intake in FY26 — Order intake of ₹5,654 Cr in FY26 was significantly below expectations, indicating execution challenges or conservative bidding.; Inflation and commodity price risk — Rising commodity prices due to global conflicts could impact project costs, though management believes escalation clauses and client quality provide insulation..
Did Hindustan Construction meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Hindustan Construction Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.