Interim report
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IRCON/SECY/STEX/124 4 th November, 2026 Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015/ सेबी (सूचीबȠता दाियȕ और Ůकटीकरण आवʴकताए ँ ) िविनयम, 2015 का िविनयमन 30 Sub: Outcome of Meeting of the Board of Directors held on Wednesday, 4th November, 2026/ बुधवार, 4 नवंबर, 2026 को Šई बोडŊ ऑफ़ डायरेƃसŊ की बैठक का पįरणाम Dear Sir/ Madam, महोदय/महोदया, This is to inform that the Board of Directors at its meeting held today i.e. Wednesday, 4th November, 2026, inter-alia, considered and approved/noted the following: A. Unaudited Financial Results for the quarter and half year ended on 30th September, 2026: Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2026 (These results have been reviewed by the Audit Committee and approved by Board of Directors at its meeting held on Wednesday, 4th November, 2026). Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, please find attached herewith the statements showing the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2026 along with the Auditors’ Limited Review Report thereon as Annexure. B. Board Comments on fine levied by the Exchanges for the quarter ended 30th June 2026: This is with reference to the National Stock Exchange of India Limited (“NSE”) letter and BSE Limited (“BSE”) email dated 25th August, 2026, regarding imposing fine on the Company for non- compliance with Regulation 17(1), 18(1) and 19(1)/19(2) of SEBI (LODR) Regulations, 2015 i.e. non-compliance for the composition of the Board and its committees i.e. Audit Committee and BSE Limited Listing Dept./ Dept. of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 बीएसई िलिमटेड िलİːंग िवभाग / कॉपŖरेट सेवा िवभाग पी. जे. टावसŊ, दलाल ːŌीट, मुंबई– 400001 Scrip code / ID: 541956 / IRCON National Stock Exchange of India Limited Listing Department Exchange Plaza, Plot no. C-1, G Block, Bandra –Kurla Complex, Bandra (East), Mumbai – 400051 नेशनल ːॉक एƛचŐज ऑफ इंिडया िलिमटेड िलİːंग िवभाग एƛचŐज ɘाजा, ɘॉट नं सी-1, जी ɰॉक, बांūा-क ु लाŊ कॉ̱ɘेƛ, बांūा (पूवŊ), मुंबई-400051 Scrip Code: IRCON
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Nomination & Remuneration Committee for the quarter ended 30th June, 2026, to which the Company has sent clarification letter dated 25th August, 2026 to NSE and BSE. The same was also intimated to NSE and BSE vide our letter No. IRCON/SECY/STEX/124 dated 25h August, 2026. As advised by the Exchanges, the aforesaid matter of non-compliance was placed before the Board in its meeting held on Wednesday, 4th November, 2026, wherein the Board deliberated and noted the position of non-compliances with respect to the composition of Board of Directors and its committees i.e., Audit committee and Nomination & Remuneration committee and the fine imposed by the Exchanges. In this regard, the Board noted that “Ircon International Limited (IRCON) is a Government Company as per provisions of Section 2(45) of the Companies Act, 2013. As per provisions of the Companies Act, 2013 and Articles of Association of the Company, the President of India vests with the power to appoint Directors (including Independent Directors/Woman Director) on the Board of IRCON. All Directors in IRCON are appointed by the Government of India through its Administrative Ministry, Ministry of Railways (MoR) and IRCON has no role to play in the appointment of any Director including Independent Directors/Woman Director unless nominated by the Government of India. IRCON has been continuously requesting MoR for the appointment of requisite number of Independent Directors (including Woman Independent Director) on the Board of IRCON in order to ensure all compliances pertaining to Composition of the Board and its Committees. Accordingly, levy of fine is unreasonable and not applicable to IRCON. It was further informed that pursuant to MoR order dated 13th August, 2026, One Woman Independent Director has been appointed on the Board of IRCON w.e.f.17th August, 2026 and subsequently AC and NRC of the Company have been properly re-constituted w.e.f. 17th August, 2026, as per applicable provisions.” The Board Meeting commenced at 02:30 P.M. and ended at 4:00 P.M. यह सूिचत िकया जाता है िक िनदेशक मंडल की आज यानी बुधवार, 4 नवंबर, 2026 को Šई बैठक मŐ अɊ बातों क े अलावा िनɻिलİखत पर िवचार िकया गया और उɎŐ मंजूरी दी गई/नोट िकया गया: ए. 30 िसतंबर, 2026 को खȏ Šई ितमाही और छमाही क े िलए अलेखापरीिƗत फाइनŐिशयल įरजʐ: 30 िसतंबर, 2026 को खȏ Šई ितमाही और छमाही क े िलए अलेखापरीिƗत फाइनŐिशयल įरजʐ्स (ːœडअलोन और क ं सोिलडेटेड) (इन įरजʐ्स का ऑिडट किमटी ने įरʩू िकया है और बोडŊ ऑफ डायरेƃसŊ ने बुधवार, 4 नवंबर, 2026 को Šई अपनी मीिटंग मŐ इɎŐ मंज़ूरी दी है)।
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सेबी (एलओडीआर) िविनयम, 2015 क े िविनयमन 33 क े अनुसार, क ृ पया 30 िसतंबर, 2026 को खȏ Šई ितमाही और छमाही क े िलए अलेखापरीिƗत फाइनŐिशयल įरजʐ्स (ːœडअलोन और क ं सोिलडेटेड) िदखाने वाले ːेटमŐट्स को अनुलưक क े तौर पर देखŐ। बी. 30 जून 2026 को खȏ Šई ितमाही क े िलए एƛचŐज Ȫारा लगाए गए फाइन पर बोडŊ क े कमŐट्स: यह नेशनल ːॉक एƛचŐज ऑफ़ इंिडया िलिमटेड (“एनएसई”) क े लेटर और बीएसई िलिमटेड (“बीएसई”) क े 25 अगˑ, 2026 क े ईमेल क े संदभŊ मŐ है। यह सेबी (एलओडीआर) िविनयम, 2015 क े िविनयमन 17(1), 18(1) और 19(1)/19(2) का पालन न करने पर क ं पनी पर जुमाŊना लगाने क े बारे मŐ है। यानी 30 जून, 2026 को खȏ Šई ितमाही क े िलए बोडŊ और उसकी कमेिटयों यानी ऑिडट कमेटी और नॉिमनेशन और रेमुनरेशन कमेटी की बनावट का पालन न करना। इसक े िलए क ं पनी ने 25 अगˑ, 2026 का Ƒैįरिफक े शन लेटर एनएसई और बीएसई को भेजा है। इस बारे मŐ एनएसई और बीएसई को हमारे लेटर नंबर IRCON/SECY/STEX/124, 25 अगˑ, 2026 क े ज़įरए भी बताया गया था। एƛचŐज की सलाह क े मुतािबक, नॉन-क̱ɘायंस का यह मामला बुधवार, 4 नवंबर, 2026 को Šई बोडŊ की मीिटंग मŐ रखा गया, िजसमŐ बोडŊ ने बोडŊ ऑफ़ डायरेƃसŊ और उसकी कमेिटयों, यानी ऑिडट कमेटी और नॉिमनेशन और रेमुनरेशन कमेटी क े क ं पोिजशन क े संबंध मŐ नॉन-क̱ɘायंस की İ˕ित पर िवचार-िवमशŊ िकया और एƛचŐज Ȫारा लगाए गए जुमाŊने पर ȯान िदया। इस संबंध मŐ, बोडŊ ने नोट िकया िक “इरकॉन इंटरनेशनल िलिमटेड (इरकॉन) क ं पनी अिधिनयम, 2013 की धारा 2(45) क े Ůावधानों के अनुसार एक सरकारी कं पनी है। कं पनी अिधिनयम, 2013 और कं पनी के एसोिसएशन के लेखों के Ůावधानों के अनुसार, भारत क े राʼŌपित क े पास इरकॉन क े बोडŊ मŐ िनदेशकों (ˢतंũ िनदेशकों/मिहला िनदेशक सिहत) को िनयुƅ करने की शİƅ है। इरकॉन के सभी िनदेशकों को भारत सरकार अपने Ůशासिनक मंũालय, रेल मंũालय (एमओआर) क े माȯम से िनयुƅ करती है और भारत सरकार Ȫारा नािमत िकए जाने तक ˢतंũ िनदेशकों/मिहला िनदेशक सिहत िकसी भी िनदेशक की िनयुİƅ मŐ इरकॉन की कोई भूिमका नहीं है। इरकॉन लगातार एमओआर से इरकॉन क े बोडŊ मŐ आवʴक संƥा मŐ ˢतंũ िनदेशकों (मिहला ˢतंũ िनदेशक सिहत) की िनयुİƅ क े िलए अनुरोध कर रहा है तािक बोडŊ और उसकी सिमितयों की संरचना से संबंिधत सभी अनुपालन सुिनिʮत िकया जा सक े 13 अगˑ, 2026 को, इरकॉन क े बोडŊ मŐ 17 अगˑ, 2026 से एक मिहला ˢतंũ िनदेशक िनयुƅ की गई है और इसक े बाद क ं पनी क े एसी और एनआरसी को लागू Ůावधानों के अनुसार 17 अगˑ, 2026 से ठीक से पुनगŊिठत िकया गया है। बोडŊ की बैठक दोपहर 02:30 बजे शुŝ Šई और सायं 04:00 बजे समाɑ Šई। Thanking you/धɊवाद, Yours faithfully/भवदीया, (Pratibha Aggarwal)/(Ůितभा अŤवाल) Company Secretary & Compliance Officer/क ं पनी सिचव एवं अनुपालन अिधकारी Membership No/सद˟ता Ţ.: F8874
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TolalmcOIm: trom Operations Net profit I (loss) (before tax & exceptional Items) Nd profit ! (loss) (before tax & afte. eXl:epllonal Items) Net protit after tax. ProfiL IS attributable to Owners of the Parent NOll ConlroJlmJ,.: Interest TOLal comprch~l\slve IIlCOJnC Eqll1ty share capnal Other EqUity attributable 10 Owners of the Parent (Restated) (Excludmg Revaluation Reser ve) EarnJllgs J>~r Share (Not cllllluahzedl (Face Value oft2/- each) (a) BaSIC (111 ~) Ib ) Diluted (1I1~) Noles: IRCON INTERNATIONAL LIMITED (A Government of Indiy Undert .. king) Registered Office: C-4, Di,trict Centre Sakel, New Delhi-II0017; Tel: +91-11-26530266; F • ., +91-11-26522000/26854000 E-m"il : JIlvestorS@lrcon ,org, Website : wwwlrconors . CofpornteldentityNumber: L4S203DL1976GOJO08171 EXTRACT OF STANDALONE 1 CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 Quarttr .eaded 30 So;pIUlbil'. 2016 ( IUIUlliftdJ 2.090 24 181 10 IHI 10 12192 12192 12 408 130 I 30 Q_taded JOJIIDI! 2m CUllliWlitfll) I.HOO 27 20352 20352 16352 16352 16754 188 10 174 174 Qltartfreilded. 3U SoopIeIIIJMr, :Z02..~ (UlllllldlliOfj 1.85153 22637 22637 18467 18467 18782 188.10 196 196 SlUIOIIIIIs l'lIdftt aD It'lliller 11116 (t,lI,,..tlilf41 3.890 51 38462 38462 28544 28544 29162 18810 3 03 3 03 . 11 iaonlluJ ~ndH 3O~lrIIIIin' %iJ1!!< 11IIUIudlfedJ 3.51572 420 92 420 92 33524 33524 33799 188 10 156 356 "'r4'Dd'" 31 •• ""_ !0l6 (Audi''''. 847886 79785 79785 61845 61845 62273 188 In 6,44229 658 <> 5H Q~lII1l!reodrd ao epl""' ...... 2tq,e. 11I~_udIlrd) 2.271 66 ) 5959 15959 100 34 10287 (253 1025) 188 10 109 109 Qtmrt .. c:mIed 30,1l1li. ~~21> tUmtAdlledl 1.955 ~3 126 8 1 12681 9203 92 74 (0 71 ) 96 04 188 10 099 099 Q!JIoner oDdod 30~'ember. 20%~ lV"IlII~IIrdJ 1.97675 I72A S 172 45 13651 13865 (214) 13967 188 10 I 47 I 47 u. IUOnlb udod 30 Srpll,'ll/btor 20Z6 (l)~,",dilodl 4_22749 28640 28640 J92 3 7 19561 (324) 19~ 55 188 10 208 2 OR -:, moa!!11 ~I'd 311 SeplCllIbcr 1015 Illnnlldilodl 3.76303 38398 38398 300 61 30321 (260 ) ,0337 I ~8 10 322 322 (IU III rru ('('J \ "'~'Ddod :U 1\l8rc1t Zll26 (Audilod) ~.071 05 76650 76650 591 91 59547 () 55) 59609 I ~8 10 6,45054 633 6J] The above standalone and consohdsted financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetmg beld on 41h Novembe r 2026 The Statutory Audllors of the company have conducted limned review orlltl! tim.lllCHli lesults for the Quarh:r and half year ~nded 30th Sept 2026 _ 'I he Standalone and consolidated [nanclal results have been prepared 111 acc ordance with Ihe Indian Accounllng Standards (Ind AS) as Iloltfled under Section I)] of the Companies Act , 20 1) read with relevant rules thereunder <lnd 11\ lenns of Regulation 33 of Ihe SEBI lLlstlng ObligatIOns ~:II)J Disclosure ReqUirements) Regulations, 2015 (as Amended) and other recoglllsed accountlllg practices and poliCies 10 the extent applicable The above I:; an extrad oflhe detailed format of the tinanclal results til,ed with the Stock Exchange under RegulatIOn 33 of the SE8J «Llstmg Obligauons und Disclosure ReqUirements) Regulations, 2015, ns amended The full format of the afo resaid finiUlclal results ale available on the Siock Exchanges website ofBSE (v..ww bsemdla com) , NSE (WW'IN nsemdl3 com) and Company's website at WW'IN Ircon org Figures for the prevIous periods I ye3I have been re-grouped I re-classlfied I re-cilsted to conform to the c1assdicallon of the current penod I year Place: New Delhi O .. te: 4th November, 2026 For and 011 behalr or [rcon International Limited S~leell1 Ahmad Ch'lirmHI1 & M.alll'ging Director and CEO DIN- 10119432
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A_ FINANCIAL RESIILTS IRCON INTERNATIONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Centre Sake!, New Delhi-II0017: Tel: +91-11-26530266; Fox: +91-11-26522000/26854000 [-mail: inveslorS@ircon,org; Website: www.ircon.orgj Corporate Identity Number: l45203DL1976GOI008171 STATEMENT OF STANDALONE I <:ONSOUDAT£U FINANCIAL RESULTS FOR THE Q UAKT£lt MID SIX MONTHS ENDED SEPTEMBER JO. 2026 Stand.laar c.:o_lidJltrd '1liwIcr EudJd SIK IIrantl"l:adrd l'~r£ndt<l Oflllrm-~_ S-... MouthiEudrd .... rlli!ula ... .10.00;2026 -30.11(,.2016 3O.09.2QU .w.uMJll~ 31U9, 1~S 3t.03.2Q;26 lO,U9.2011> 30.06.2024 30.11'1.2025 30.09.2016 3'l.M/Il,1M:5 'liu"ullited) (U .. aadlftd) (U"""I/''''') (Uq.u,""!I) Illnaacnt<!l) IAudllrdl (\I"Audhod' !llllll11dittodl IUnallillttd) Il nanditrd) tu.I."dlt.d) I. Income: (a) Revellllt: from operations 2.09024 1.80027 1.851 53 3.890 51 3.51572 8.47886 2271 66 1.955 83 1.97675 4.22749 3,76303 Ibl OU1l...'J wt'omc 9756 12627 17580 22383 282% 49972 9208 8690 13543 17898 241 53 ~· .lallJ1 e .lII . 2.'000110 l "U, s.t ::(j~71a ~,It4.l.4 ;7~0S' s.on"S ~.Ji ) n+ Jt h417J _112 HI •• l()(l4 7 -H,I04" " 2. Expenses: (a) Malerials and Stores Consumed 28097 61 55 213 72 34252 38556 82696 28099 61 55 21372 34254 38556 (0) Project Expenses 1.631 73 1.56670 1.49992 3,19843 2,81504 6.992 77 1.66767 I 604 15 1.53993 3,271 82 2.872 81 leI Emplovee b~netils expenses 61 50 6236 5937 12386 12007 24203 6642 6681 6390 13>23 129 Ib (d) Financ.:e costs 243 325 043 568 4 18 627 I I~ I ~ 100 98 H454 221 12 15975 (e) Depreciation, amortisation and impainnenl 1557 150) 1214 3060 2) 60 4843 4573 4489 4001 gO 6') 77 16 (I) Other expenses 1450 1413 1538 2863 29) I 6427 1800 18 18 1802 3618 3443 1'01.1 r.~ )<R:\l:!I '1;1iOO7U 1 123 02 I.HOO <l<l 1,7N 72, .J17 7~ 8,Igun .2..1~~QS I "lIUb I Y6!> 11 J,I)<>S.SI ;,(,Slf&7 J . _nlll I olliS) fro,. opttlrllOlU boTore Sblo ... or I't'om I (Loss, If 111 1 10 l (l) $2 22911 ~I>: 4209! 7~7115 nU7Q 140 11 Is.! 0.:. 1)(1 "1> ,*~~ Joont \'etll.r ..... : .~rl)II"QIiIIIl~.lltl-rU'lI-!) 4 SllllIo ol'l""IIi, (I.(I$!) u t ~J o lH l Vcnl u r (.! ~ . - - (II 20) tl3 36) 2039 124,6) 3829 S. I'Mlntlll,,,,,", r.~n' o'>tll/Ciou . ... fo'. F .. nption"1 ItClllll.lld, IlIIIO 20JSl 2-1617 .l84 bl HII 1I2 71118S fSlJi~ 12frti l I7:H~ ~"·I!t ~g u~ I~ j ,,) . 6 b;..\!r )lIOIUII ih:ms I NCI) 7. Prorill (Loss) from opera lions before Tax (5 + 6) 181 10 20352 22637 38462 42092 79785 15959 126 SI 172 45 28640 J839H 8 Tax Ex }~nse fa) Curr~nt 'I ax 3874 3691 4363 7565 84 17 187 14 4540 4320 4986 H860 9727 fbI Taxation in respect of earli~r years 1273 001 042 1274 (497) (054) 1274 001 042 1275 (4 Y71 «'I l..)dclrcLl'r1:S1\ 771 308 (.!3 S I 10 79 648 (720) 111 (H 43) (1434) (732) (H 93) ~. . N'tf i'''. n I 1: ... , tor tlt;"jii:tili!J1S&t- ~ 11) 'l2TCJ2" 163t.! 18467 lIIS4t 1.~'i!.'1 ~ I ~-lf ill!' H 'l2.r3 11.Q"f1 1'/2,>7 '3006 1 10 Other Comprehensive Ineolne (a)(i) Items that will nOl be reclassified to Profit and Loss 035 113 274 148 301 472 036 I 12 275 148 J 02 (a)(ii) Income;: tax relating. to items that will not be;: reclassified. to (009) (028) (069) (037) (076) (I 19) (009) (028) (0 (9) (037) (076) Profit and Loss fblm Ilems thaL will be reclassified to Profit and Loss 25) 424 I 47 677 067 100 253 424 147 677 067 (b)(ii) In!.:ome lax relating to items that will be reclassified to Profit (063) (I 07) (037) (I 70) (0 17) (025) (063) (I 07) (037) (170) (0 17) and I ~ Uii )l 'I. IOl<lfCompnoljij"hl' In~Om./lIll5!l fror 11.-oniodii''Ht r~'1 . 11S 16'7 SiI 18H1 !Y161 1: r')ll tal?; lon', ~I i-I iJIYT,r l.'ffl:~ Ttlnt' 12 Profit is attributable to (a) Owners of the P.uent 12192 16) 52 18467 28544 33524 61845 10287 92 74 13865 19561 30321 (b) Non Controllin,g Inter ~ SL (253) (071) f2141 (324) (260 ) I) Olher ('ompr~hensive lnt.:ome is attributable to (a) Owners of the Parent 2 16 402 3 15 6 18 275 428 2 17 401 J 16 6 18 276 (b) Non Controlling Interest . - - - - 14 'fotal Comprehensive Income is attributable to fal Owners of the Parent 12408 16754 18782 291 62 33799 62273 10504 9675 14 1 8 1 20179 30597 (b) Non Controllin ' Interest - - . - (253) (071) (214) (3241 12601 15 Paid up E(luitv Share ('Ioilal (Face Value of Rs 2_per share) IH810 18810 18810 188 10 188 10 18810 188 10 18S 10 188 10 IHH 10 IS810 16 Olhel Eljuity attributable to Owners of the Parent (Excluding Revaluation Reserve) 6.44229 (As per Audited Balance Sheet) - £;\~~tf~ ,gCk~ ~ I~( ~~ ~hd- ) ";J'- 'l, ko'~ ~J g.~ '(, ~. ~.,; -." o~ I) ( z :5 L _.7 ~f: ::s ri 0.,., "i! ~1: ~ "'to,) <:> 6red-;;:'cco"V / .. * - - ll&llICr."1 \Io!r t,ndrd J'.O'U~2b (.'\Ioditrd) Y.071 05 43092 q;SUI '/7 826 ')8 7 14049 26047 J50 II 16172 77 36 n 1111>1.. <>B,U 4 8266 7~~~~ 76650 213 18 (0461 (3X 1.1) '3~1 ~~ 459 (I 17) 100 (025) ~"DOQ ~,, ~ 47 (3 55) 4 17 59964 ( 'H) 188 10 6,45054
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1..-- 11. "I (II) .;.,,"iu..-I"r f.'1,,11}SI ~~ " OOI.!l!.OJfR,"~ ... r )Iii <e) eNol ~- -; ~ - ,\JW$Idlludl .B1OJj1f III ~ 'I 110 114 I lib )03 JSb b.5ll 1 o)~ O'N 14'T !IJS; ,t~, -- ,,:11 IJUulOlI l ll n~l lW I 7~ I'll> JUl 15b a 511 I ~ (j,9!'. 14'7 ~1IlI .142 1.]3 Notes: The above standalone and con!£liidated financial results were reviewed and recommended by the Audit Committee and approved bythe Board of Directors at their meeting held on 4th November, 2026 The Statutory Auditors of the company have conducted limited review oflhe financial resuhs tor the QUllrter and half year ended 30tJ. Sept 2026 "I he Standalone and consolidated financial rt:sults have been prepared in accordance with the Indian Accounting Standards (Jnd AS) :IS notified under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in lenns of Regulation 33 of the SEBI (Lisling obligations and DisdosUi e Requiremellls) Regulations, 20 5 (as Amendt!d) and other recognised accounting practices and policies to the extent applicable In lillt! with pi ovisions of Ind k 108 - Opl!rating Segments, the operations of the Company I GI oup fall primarily under geographic2! information about group of COllntril!S, which is considered to be the only reportablt: segment by management Ministry oj Railways (MaR) vioc letter dated 18 102021 had decided in principle for closure of Jndian Railway Stations Developme.t Corporation (lRSDC), in which Company has an investment of~S2 Crore Pursuant to requisite approval of the Board and Shareholders of IRSDC', the process of voluntary liquidation oflRSDC.:las been initiated Financial Statement oflRSDC has been prepared on liquidation basis As on 30 O~ 2026, net worth ofJRSDC comes to t251 62 Crore, out of which 26% share i I! t 65 42 Crore belong to IRCON Therefore. management does nOI perceive tilly impairment in the value ofinve~menl in JRSDC Further, during July 2026, the Liquidator made an interim payment of share capital.Jn account of voluntary winding up, pursuant to which the Company received tSo 96 crore The voluntary liquidation process is continuing and the remaining assets and liabilities oflRSDC are under r-3lization and settlement by the Liquidator Pursuant to the Concession Ag-el!ment dated 28th September 2005, the toll cullection rights orthe lrcon - Soma Tollway Private Lntiled (JSTPL), a Joint Venture Company with 50% holding, in which Company has an investment ort 6387 Crore, has been cr;:3sed un 14th May, 2026 lIpun expiry oflhe eXlcnded cUllcession period SI..I:,sequently, the highway assets are in the process of handing over 10 NHAJ in accordance with the terns of the Concession Agreement Based on Management assessment and intention to cease operations upon completion of the concession period, the fimmcials orlhe Joinl Venture company have been pr.~ared on a basis other than going concern As on)O 09 2026, net worth of fSTPL comes to ~ 211 I- Crore, out of which 500/0 share i e ~ 10560 Crore pertains to fRCON Therefore, management does not percdve any impairment in the value of investment in ISTIlL ~ Ministry of Railway (MaR) hasgl anted in-principle apploval for closure or Basti:lr Railway Private Limited, a joint venture company 3.nd transfer of its assets and liabilities to MoR The legal formalities, pricing and related modalities are in process 1 It has bet:n dt:cided to handovt!'" Phase- I (Angul- BaJram, 14 KM already operational) and Phase- [J (Balram-Putgadia-Tentuloi,5c. KM under construction)ofMCRL Project to Ministry of Railways (MoR) The legal formalities , prking and relatt:d modaliti~ s are in process and lhe Company does not toresee any impairment in the vJue ofinve::stment at this stage figlll es for the 1'1 evious periodt j year have been re-grouped I re-c1assified lie -casted to conform to the classification of the currenl ,eriod I year Phlce: New l>elhi O;lle: 41h November, 2026 ,; ,"'or alld 011 behHlf of Ireon Inlernllliou .. 1 lill1ited Saleem Ahmad Ch .. irman & Managing Director ;lUd CEO DIN- 10119432
Page 7
IRCON INTERNATIO NAL L1 ~ In' El) (A Government of Indio UUlil',"1l1kiug) Registered Office: C-4. District Centre Saket. New O.U,i-1 10017; Tel: +91-1 1-26530266; F.x: +91-11-26522000/26854000 E-mail: investors@ircon,org; Website: www.ircoll,org~ol· porn1 t\ Id r.t1lhy Number: L45203DL1976GOIOO8171 Statement or Standalone .lDd Consolidated segment-wise Revenue, Result, Total Assets and Total Liabilities for the Quarter and Six Months Ended on September 30t 2026 l l~. in ( 'rij"" - Sblnd~I"n. ("IInsolldMt..d l irllHT~' tlh' r.\ ' QJtlII1er &lIdl'd Sll mlHltll. t aded harEnd.d Q~~f\er Rlfded Si~monlh .... d.d Y~.i·r Etld.d '3 11,~026 al!.1l6.l026 jIMI\I~OZ5 J1I.Ii5l.1OU JO.tI'1.iluS JI:ii3~llili 30;09)2026 3\1.(JU1ll6 lJU.I'9.l01S 311.11\l.2026 30.0lI.wl~ 31.03.'10Z6 ( Q"~ .. diledl IUJIlUIdJtedl Itllla"dlttch .1lt •• "dirrdl IU.~udiled) 'Aadiledl lllD4tlCliled) . J I""t1l1l1led) (Ua.adiltdl illnnudlledl W,,"udltedj '!.\udilt!(fl I. Segment Revenue (0) Revenue from Custom~rs lntelnallonal 5692 4199 3732 9891 6608 29b 24 5612 4199 3732 9811 66 U8 296 24 Domestll.: 2,033 32 1.75828 1 ,K 14' 1 3.791 60 3,44964 8.18262 2.21554 1,9 1384 1,93943 4.12938 3.696 95 U7481 (b) Interest Income [nternallomll 1047 1023 726 2070 1537 3537 1047 1023 726 2070 1537 3537 Domestic 51 41 4972 5588 101 IJ 12016 21626 5395 5037 5458 10432 11772 2 1290 {~l Othel Income Internallonal 599 I I 13 51 82 1712 6445 8522 599 11 13 5210 17 12 6474 8002 Domestll.: 2969 55 19 6083 8488 8297 16287 2167 15 17 2149 3684 4370 96 63 Tot.1 2.187.80 1.926.54 2.027.32 4.114.34 3.798,67 8.978.58 2.363.74 2.042.73 2.112.18 4,406.47 4.004.56 9.~01.97 less: 'nter S~~mett t Revenue 1'<~rs"'OLFl ' lJIul iutUm. ""l./Ji1.fO .1,92651 z.lln.n - '('n4034 J;7~.(>7 It.'I7I!.511 U63.7'" !,G.n.7l' 2.U:UII .4.400..17 ~.OO4.e;h 9,~~ 1 _9' 2. Segment Results Profit Before tnx & interest <a) International 2583 2680 57 12 5263 8611 18538 2639 2702 5800 5341 8746 188 15 (hI Domesllc 15773 17864 16965 33637 33893 61835 24736 20533 1989] 45269 456 13 92785 Less - el) Interest (246) (192) (040) (438) (412) (588) (11416) (10554) (8448) (21970) (15961 ) (34950) hi) Other Un- alloca.le expenditure net off - - - - . - - - . (II ' I Olli", UII·.d1oc.b., (neo,,," - . - . . - 'l"uoLProl1tboro ... t ... I1U.lO 203.M 22647 '3B:Ul UMl V97.~~ 15'1.5' 11(1;"' 17,2.45 281>..10 383..98 ll1tt f ~O 3. See;men t Assets (u) International 1, 1336 1 1.15308 1.00734 1.1 336 1 1,00734 1.12287 1.13452 1, 15393 1.00785 1.13452 1.00785 1,12379 Ibl Om ll t..::O lI ~ 14,09935 13,87527 13,39385 14,09935 13,393 85 14,06808 20,31351 20,03082 19,21142 20,31351 19,21142 20,18289 '1IlI"' \_t, ~>l2.!I6 1~,I)ZUll 14.<101"9 IlI.l31 .96 14.401.19 15'.1'!l0.9~ 21.0141\,03 ll,1~.'S 20.z19.\t~ .21,0148.{);l 2U']19,21 lW114.1>8 4. SC2R1ent Lhtbilities In l International 89788 931 44 83923 89788 83923 97354 89339 92785 831 70 K9339 831 70 %-1 31 (b) Domes!l!; 7.47891 729898 7. 10345 7.47891 7.10345 7.58702 13.75125 13.490 17 12.8% 75 13.75125 12.896 75 1367168 fothll.h,bUlII .. 1I.;m,:/9 8.230.41 190U.68 Jl.J76.79 7J41,~ B$6Il56 1~.fi.LI.6-I 14.4111.111 13.728.-15 W.~4.6>1 1 3.72a . ~S l4.63!\.9u NOles: I The company I Group has reported st"gmentlllionnalion as per lnd AS 108 "Operallng Segments" The operations orthe Company / Group fall pnmaIlly under geographl!.::al IIlfonnalion about group of countnes, which IS conSidered to be the only reportable segmenl by management Figures tor Ihe prevIous periods I yetI have been re ~gro uped I fe-claSSified I fe-ca sted to contorm to the claSSification of the current penod / year For and on beh"lf of Ircoll Interuutiollul Limited Plure : New Delhi DOIte: 4th November, 2026
Page 8
fP~r.t1w l g,... IRCON I:-iTERNATlONAL LIMITED (A Government of India Undertaking) Registe .... ed Office: C--4. District Centre Saker, New Delhi-I 10017; Tel: +91-11-26530266; Fax: +91-11-26522000/26854000 E-mnil: investors@ircon,org; Website: www.ircon.org; Corporate Identity Numbe .. : L45203DLI976GOI008171 Statements of Assets and Liabilities ,sJ'A,'I([)JlliCl;ll£ €0 r;S!)LlD \'rf:D ~lItr ~ Itt §'flt Cltlffie llJ1"lmi'Iii "' ~1~11!1' .1It • • .,N. 'I S~I , §J!I 1 ~ 1jj A'II JII ""c'h Jl_~ O:ld ... "~ " W 1.",dol«'1 .fUiuo, .Jllcd ASSETS Non-current assets Propert\ Plan[.arui EaUJp mcrlt 2(;702 25R77 .., 0(19 82 CaQ!tal Work-Ln-Prol!rCSS 110-1 1477 61898 'mcstmenl Propt:rt\ 5 25 flo 533 LJ-I 5.23 (in IntanJ!lble Ass~1:s 193 393 79942 [ntanglble Assets under Devdopmcnt . Rlubt'.£lf ..u~~ A"&; !':"M 7 53 9 16 72 35 InVl!stJm:nts accounted for usme. the \!qUltv method _. . 1.00294 Fmanclal Asset" I) Investments 7902 II VW056 II Loanl 250 R1 257 fiR 027 (111) Other financial asSt:ts 8444 5837 3,70482 Deferred tax assets (Net) 13755 14835 18997 Other non-current assets 19609 23357 ;6262 Total Non-current assets 4.386.24 4.313.60 9.546.85 C urrent assets I U~lo: nI o n r:=t; ",2 " 99 Q 0':; Fmanclal Assets ti) Investments 6;097 36687 6;097 (Ii) Trade Receivables 1.251 22 1('6777 1.07624 (III) Cash and cash eqUivalents (I) 1.9u5 U9 7.02U 36 2.U51 IU (IV) Other Bank Balances (.) & l.1I ~ 2.03<1 R3 2. 14623 2377 07 Iv) Loans 1949 1786 165 "'1) Other fUlllnClaJ assets 3.035 R7 2. 74235 3.44497 Current Tax ASSl.1:s (Net) 3089 2678 5663 Other current asset!; L90Q 74 1.877 14 2.0..13 05 10.846.72 10.877.35 11.900.73 Assets held for Sale 045 Total Current assets 10.846.72 10,877.35 11,901.18 l1'otl l ~>i" luau<> 1~, I ~II I '15 Ul~ ~ 8 . nS IWOIf\, ANI) LlAfilLl'fmS Equitv EqUlt\ share capital 188 10 18810 18810 Other eqUltv 6.66807 6.44229 658648 Equity attributable to owners 6.856.17 6.630.39 6.774.58 Non control lin!! Interest · 2881 Total equity 6.856.17 6.630.39 6.803.39 Liabilities r"' n n-r;;lIrt~ nl trllbfJIdes FinanCial Liabilities (I) BorrowmllS · 5.58552 (II) Lease Liabilities 133 197 59·,Q (IIi) Trade Pavables • Total Outstanding Du~ of MICro EnterpriSes · and Small Enterprises - Total Outstanding Dues of Creditors Other than of MICro Enterprises and Small EnterpriSes (IV) Other financialliabllitJes 63568 74553 73382 ProvIsions 19063 212 UY 32Y ~1 Other Non-Current Liabilities 82301 X3054 85076 Total Non-current liabilities 1.650.65 1.790.13 7.559.39 Current liabilities FlIlrmcl.Ill hllblhl lr:li (I) Borrowmes 41 UII ]0300 249 19 (II) Lt!ase LlabdltlO;!S 125 I 17 6 II (m) Trade paVdbles - Total Outstandmg Du\!S of MIcro EnterpriSes 579 3551 590 DJILI SumU .Eu I"-· r \1 rll1~ • Total Outstandmg Dues of Creditors Other 87550 1.14564 89812 than Of MICro EnterpriSes and Small Enterprises (iv) Other flOaocmJ ltabLlitJes 268247 2,472 76 VR072 Other current liabilities 2.76894 2,69<157 2.83; 68 P ro~ ' lSI un ' 1937 5 299 74 29479 Current Tax lIabllitv (Net) 744 1& 04 1464 Total Current liabilities 6.726.14 6.770.43 7.085.25 'al. 1 ~ lJ ~lb' ~lI d i hl.61," 1~. t ~.n.9ji l Si I9l.o.~5 11,4~8 I U' Note :- (I) Includes Clients Fund and Project Fund of Rs 3,034.30 Crore (31 st March. 2026 Rs 3.20 I 77 crore) (II) Includes Unpaid DIVidend Bank Account orRs. 66.64 Crore (31st March. 2026 Unpaid DIVidend Bank Account ofRs 0 83 Crore) (III) Figures for the prevIous year have blXn re-grouped I re-cl:l.Sslfied I re-casted to confonn to the claSSification of the current year For and on behalf of (rcon International Limited Saleem Ahmad Place: New Delhi Date: 4th November. 2026 So,h o ~lI1 708-) :;7 5Y451 53394 83'-193 . 6940 1.06481 (11.5 3.57155 IR26; 56541 9.503.02 1230 36687 1.39R 34 2.19U35 2.619 no 088 3. 163 [3 4661 2.00; 73 11.803.21 045 11,803.66 1l~. 68 188 10 6.45054 6.638.64 3205 6.670.69 5.42321 ;6 46 . 821 Ot 32614 85856 7.485.38 24042 554 3599 1.16528 2.60095 2.77598 3nn fi4 2581 7.150.61 ! I"'I$:~
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1I.,1191W;o CASH FLOW FkOM OpmATING ACTIVITIJ.:S Nel Pl'ofit before hllarion Adjustment rO!o : Interesloll unwmdmg offinac lal mslrumenLs (Nel) AmortisatIOn or flnanclallll~ulllenls (Net) Depre ciation, amorti zation ar:d IInp.mment Profit on sale of assets (net) Profit on Sille of Mutual Fur.ls Fmance Cost Share 1I1 Profitl(Loss) of JOI. Ventures Gam on Changes of f air Vaae of Mutual Funds Interest Income DIVidend Received from Suu>ldJary and Joml Venture Companies Reclassification of ExchangE. CimnfLoss 10 Profit and Loss EfTect of Exchan~e differenc_s on uanslauon of Foreign Currency Cash & ('ash EqUivalents Operating Profit before wwking capital cbanges AdjustlDenf for: Decrease I (Increase) m Tra<l=: Receivables Decrease I (Increase) In Invauones Decrease I (Increase) III Loa.~ . Other FmaJlclal Assets & Other Assets (Decrease) I Increase In Trae Payables (Decreilse) I Increase III Olh~ Liabilities, Fmanclal Liabilities & ProVIsions CIIsh ~enen'ted from openiion Income Tax Paid "If I U~ " nt()J\1 OI'l!~" NEcnvn1Es IRCON INTERNATIONAL LIMITED Registered O(fi(e: C-4, Dislrict Centre Saket , New Delhi-ll00 17; Tel : +91-11-265J0266j Fax: +91-11·26522000/268 54000 E-mMil: inves lors@ircon,org; Website: www.ircolI .orgj CorporHle identity Number : US203DL1976GOl008J71 Statement of Cash Flows $'\·ANOAI.O;·j" " ,. Itlt 51< _til .. \~ ~ Por lilt SIt. rllbuillt eoill"ll3WI1 linr lilt VUl' .. ,dod ~ ltl Irnr Y.. a iPlillIbo IJ\llI'd o!IIlII & plC'lnber3BZ6 s.ptftt"' ... ~ZS ~"rdI JIl2b JIlltJ li<'4'1M!! MJIo Illll!llldlledl (tlMn,"'''', J"pdlr"" Illnaadllrll) 38462 42092 7978 5 28640 (829) (82 9 ) (16 68) · (010) (027) (04 5) · 3060 23 60 4843 90 62 021 (057) (007) (2099) (2557) (5035) (2099) 424 338 4 67 21325 - 2456 (130) (260) (I 63) (130) (11344) (12285) (23447) (2132 9) (4827) (3941) (6646) · (2731) (2731) · (2330) (4808) (K757) (2323) (') 203.7'7 173.74 365.46 355.95 41656 853 53 (1846) 322 10 337 (2335) 7852 325 (30164) (7272) (4184 3) (35827) (29985) (58220) (4374) (297 14) 9005 42300 38967 7977 (2) (91.51) 598.26 (12.44) (250.29) (1+2) 112,26 772.00 353.02 105.66 (1205&) (194 17) (275921 (1400 2) ",,' tS.&l) $17.» 17,10 13U61 c::q)'iSOLlD"'I'hO fl" lit. hll-lno ul1 .. "1~ ;.\!III! Fyt .".", 1 ... )I.!r\l3 ..... MJQ;\ ~ SoJI!t'iId .... lO - !I!2tl Il'lWIdltrdJ (""dUM) 38398 76650 (002) (002) 002 002 77 16 1112 72 021 (057) (2557) (5035) 15575 341 55 (3829) (8266) (260) (163) (18307) (3 5lJ 12) - (2731) (2731) (4M 36) (8M 37) 291 .90 660.76 58 1 99 (700 9) (2335) 78 53 (41475) (1,16 2 65) (58063) (5603) 43895 23471 2.21 (975.53) 294. 1' (314.77) (20 5 59) (302811 SS,e Im.5Sj
Page 10
, \ N I, .\ L6.~F ...... tial ..... I1ll rU ~!!ll .. ntlttl.bs..,dt'il. For IIIe ' a IIID"/ttt aliI 01" JJIIb Sepia . ..... 1020 801""",'*"21115 Il""' lldlltdl llonaudll""j CASU FLOW .·ROM INVESTING ACTIVITIES Purchase of Property, Plahl a.d EqUipmenlUldudmg CWIP (25 1!iJ (26 I i) Acq UISItion of Inlang lble A ss ~t s and Intan gi ble Assets under De velo pment (0 4'1) (1 011 Purchase I Proceeds of lnves.,.enl Property (002) (069) Sale of Prope rty, Planl and EtU lpments & Intangible Assets 0 21 0 83 Exchange Gam/ Loss on Prol=erty, Plant and EqUipment - Sale of Investments Sale orrvlutual Funds 4,87645 6.15386 Purchase of Mutual Fund ( 5 , IJg . ~, (6.65301) Loan 10 SubSidiary CompaniEs 0 02 Repayment of Loan from Sut sldlary and JOll1t Venture Companies 9 13 733 Incerest Received 1062 1 11 6 98 DIVi dend Received from Sub:;;ldlary and Jomt Venture Compames 48 27 39 41 Investmentm SubsldulrY and JOint Venture Companies (101 SSj (24406) Redempllon of Bonds 2500 Bank Balance C:) l h ~ r !iUlJ I. C;tS:1 rmtl r3~h 5lu lw hmls I j I 39 I S~ JY) :lit, _qS.I .• t' ROM I ~~ES"J NG .\ ("n~!TlE!> ,CBI 111 1.1111) (6J~·q"l ("ASU FLOW FROM FINANCING ACTIVITIES Proceeds from Borrowmgs 32 89 Repayment of BorrOWings (44 k9) Payment of Lease hoblhues (0 ~KI (602) FlIlance Cosl P,ud (3 iR) (005) Fillal DIVidend paid (9405) Interun DIVidend paid PII)' II:c=Ill of Fee for Increase 11 Authorlsed/Pwd up Share Capllal . - 't&1 ~'J>SJ L I'B O," "~;\ Nl mCA~"fIWllr.s WI \16M) IIW.I!! Effect of Exchange differences on translation of Foreign Currency Cash & Cash (D) 23.31 52.52 Ef! 1u\'fl1e11ts rt IN('KMS.·/ {Df.( liE.\.'it :1 IN C"~'1H "( ~H t.'"ClUI\, M.EN'lS (M-I!c-+< +D) H I $.~7J rtU9,71) CASU AND CASU EQUIVALENTS (OPENINGI (E) 2,020 .36 1,977.85 CASU AND CASU EQUIVALENTS IC LOSING) IF) 1,905.09 1,868.14 M r , 1 1S( 'RE~ / ( D f.OU:~EI (J\I (,''S O A. C''\SII EQlIl V, \t.EN I ~ IE Ej 1I1 ~11 (l09.?I) Nutt'l: I The above Cash fl ow Statement has been prepared under the "Indue'l Method" as set out III the Indian Accounlmg Standard (Ind AS) -7 on Statement of Cash Flows 2 Figures for the prevIous yf!3.rl period have been re-Krouped I re-classlfied I re-cilSted to conform to the clasSification oflhe current year/period 3 Figures III brackel 0 re pr e~en t s outflow of cash Pltlce : New Delhi O:.ate: 4th November . 2026 ·-C' (I ~uPATgg fur ,110 y ... r .. Id<4.~ .. , ""rill. ! IhJ!llllJO-L'II IFllrlllf I m .... be~ ~~ atm 'or .II" "&!l4 ...... ~I " 'WlI1th ~"'rt l , 21lll> 1 S.~ltoritJ " III d .... Nil ,AudUtd, ,\,Inaadi"'" Illuuuill .. dj IA"dlt~d ) (5911, (59 0(1 ) (50 1 54) (512 II.) (1 0 1) III q) (1 0 1) ( 1 01 1 (0 70) (11(12) (Ob9 ) (0 711) 202 03 1 0 88 2 53 11.745 18 4.87 6 45 b.15386 II ,745 18 (11.77456) (5. ln!5 ' (b.b53 0 1) (ll,774 5b' - 1817 233 59 17052 182 15 304 7 1 66 46 4000 34>0 345 0 (3550 9) (27 11 (12K 88) (188 ~3 , 12520 25 00 12510 ( ) 5 1 ~j 11 ·-"t (17 SZ) "41 II ) 1I~.\Jl! (1l.l9 ·, f%ll.Uj rol6~1 103 00 6373 0 1,2 1497 2.114 37 14101. ))1 (3952 2) (7H4 Un (683 ) (4 '; . (772) (lJ 8bl (0 K)I (2 1) 34' ( 149 4~ 1 (312 til (94 O~) (Q4 ~tI (94 US, (1I 2 1S/.) - ( II HOI (001) tOUll (001 ) 11I L$J1 \-l6JI3' . ~7" 80~, 92.01 23.23 52.81 92.82 of.!~ 1 (l S9.~51 ( ~"6."~ f1i8.-wa 1,977.85 2,190 .35 2,219.84 2,279.84 2,020.36 2,051.1 0 2,023.38 2,190.35 +2$1 ItJ9.iSl i~J IIIU·~l }'or and on behalf of lrcon Inlel11uliomd Limited
Page 11
'S.No. B C D E IRCON II'TERNATlONAL LIMITED (A Government of India Undertaking) Registered Office: C-4, District Centre Saket, New ::lelhi-11 0017; Tel: +91-11-26530266; Fax: +91-11-26522000/26854000 E-mail: investors@ircon,org; Website: www.irron.org; Corporate Identity Number: L45203DL1976GOI008171 Other Information - Integrated Filing (?inancial) - For Six Months Ended on September 30, 2026 ReQuirement Remft.rks Statement of Deviation or Variation for Proceeds of Public Issue, Rights Iss.e, Preferential Issue, Qualified Institutions Placement etc. Not Applicable Disclosure of outstanding default on loans and debt securities Not Applicable Format for disclosure of Related Party Transactions (applicable only for half- yearly filings) Will be filed separately in XBRL Format Statement on impact of Audit Qualifications (For Audit Report with Modifid Opinion) Submitted along with annual audited final).cial Not Applicable results - (Standalone and Consolidated separately) (applicable only for annual filing i.e. 4th quarter) For and on behalf of Ircon International Limited Saleem Ahmad Chairman & Managing Director and CEO DlN- 10119432 Place: New Delhi Date: 4th November, 2026
Page 12
rCAt- Vinod @ 'V Singhal ~Co. LLP \. INDIA CHARTERED "'A:CCOUNTA 'NTS We Plant Quality Independent Auditors' Limited Review Report on Standalone Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026 of Ircon International Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (liThe Listing Regulations") To The Board of Directors Ircon International Limited New Delhi 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results and Notes to the Statement of Standalone Unaudited Financial Results of Ircon International Limited ("the Company") for the Quarter and Half Year ended September 30, 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Regulation") as amended. 2. The Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" and also considering the requirement of Standard on Auditing (SA 600) on "Using the work of Another Auditor", issued by The Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making enquires, primarily of persons responsible for financial and accounting matters and applying an analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion .
Page 13
4. Based on our review conducted and procedures performed as stated in Para 3 above and based on the consideration of the review reports of the branch auditors / other auditors referred to in paragraph 5 to 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulations 33 of the Listing Regulations, including the manner in which it is to be disclosed or that it contains any material misstatement. Other Matters 5. We did not review the Interim Financial Result/Information of 3 (Three) foreign branches situated at Algeria, Myanmar and Sri Lanka whose results reflect total assets of Rs. 815.72 crores as at September 30,2026, total revenue of Rs. 65.87 crores and Rs. 120.76 crores, total net profit after tax of Rs. 8.00 crores and Rs. 25.83 crores and total comprehensive income of Rs. 7.43 crores and Rs. 24.07 crores for the quarter and half year ended September 30, 2026 respectively and net cash outflow of Rs. 23.98 crores for the half year ended September 30,2026. We have not visited these branches and the Interim Financial Result/Information of these branches have been reviewed by the branch auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches is based solely on the reports of such branch auditors and the procedures performed by us as stated in paragraph 3 above. 6. The Statement includes Company's proportionate share of net profit after tax of Rs. 0.59 lakhs and Rs. 0.87 lakhs for the quarter and half-year ended September 30, 2026, respectively, in respect of 2 (two) inte~rated joint operations (unincorporated), These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the reports of the other auditors. The Statement also includes the company's proportionate share of net profit after tax of Rs. 50.20 lakhs and Rs. 47.03 lakhs for the quarter and half-year ended September 30, 2026, respectively, in respect of 1 (one) joint operation (unincorporated). This interim financial result has not been reviewed by other auditors and is based solely on management certified accounts. According to the information and explanations given to us by the Management, these interim financial results are not material to the Company. Our conclusion on the Statement is not modified in respect of the above matters.
Page 14
7. The review of unaudited quarterly financial results for the period ended 30 June 2026, unaudited quarterly and half year ended 30 September 2025 and audit of standalone financial results for the year ended 31 March 2026 included in the Statement was carried out and reported by M/s Ramesh C Agrawal & Co., who has expressed unmodified opinion vide their review report dated 12 August 2026, 12 November 2025 and 22 May 2026, respectively, whose reports have been furnished to us and which have been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. For Vinod Singhal & Co. LLP Chartered Accountant Firm Registration No: 005826C/C400276 CA Prateek Goyal Designated Partner Membership No: 411040 UDIN:26411040AXYSCR8820 Place: New Delhi Date: November 04, 2026
Page 15
CAt- Vinod{Q?~ Singhal~Co. LLP INDIA CHARTERED Independent Auditors' Limited Review Report on Consolidated Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026 of Ircon International Limited pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("The Listing Regulations") To The Board of Directors Ircon International Limited New Delhi 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Ircon International Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax of its joint ventures for the Quarter and Half Year ended September 30,2026 ("the Statement") attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("the Regulation") as amended. 2. The Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" and also considering the requirement of Standard on Auditing (SA 600) on "Using the Work of Another Auditor", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of Interim Financial Information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with GHAl. Standards on Auditing specified under section 143(10} of the Act and consequently, does not C;;\~ ~ C enable us to obtain assurance that we would become aware of all significant matters that 9(': ight S!f identified in an audit. Accordingly, we do not express an audit opinion . ItI' ~ '0 C400ifi .$ ~ also performed procedures in accordance with the circular issued by the SEBI under ~c$'1: ~ Regulation 33 (8) of the Regulation to the extent applicable. sr8dAcCO~ ,
Page 16
4. The Statement includes the results of the following entities: S.No. Name of Company Relations A Ircon Infrastructure and Services Limited Subsidiary B Ircon PB Tollway Limited Subsidiary C Ircon Davanagere Haveri Highway Limited Subsidiary D Ircon Shivpuri Guna Tollway Limited Subsidiary E Ircon Vadodara Kim Expressway Limited Subsidiary F Ircon Gurgaon Rewari Highway Limited Subsidiary G Ircon Akloli-Shirsad Expressway Limited Subsidiary H Ircon Ludhiana Rupnagar Highway Limited Subsidiary I Ircon Bhoj Morbe Expressway Limited Subsidiary J Ircon Haridwar Bypass Limited Subsidiary K Ircon Renewable Power Limited Subsidiary L Ircon-Soma Tollway Private Limited Joint Venture M Indian Railway Stations Development Corporation Limited Joint Venture N Bastar Railways Private Limited Joint Venture 0 Jharkhand Central Railway Limited Joint Venture P Mahanadi Coal Railway Limited Joint Venture Q Chhattisgarh East-West Railway Limited Joint Venture R Chhattisgarh East Railway Limited Joint Venture 5. Based on our review conducted and procedures performed as stated In paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragr'aph 7 to 11 below, nothing tlClS curm:! Lu uur dLl~lnlol1 tl,at e~u~es u~ Lu believe that the accompanying Statement, read with notes thereon, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation including the manner in which it is to be disclosed or that it contains any material misstatement. 6. Emphasis of Matter Reference is invited to Note No.4 of the Statement wherein it has been stated that financial statements of one of the jointly controlled entities i.e. Indian Railway Station Development Corporation Ltd. (IRSDC) have been prepared on liquidation basis and that the Company does not foresee any impairment in the value of investment held by it in IRSDC. Note no. 5 of the Statement regarding preparation of financial statements of Ircon-Soma Tollway Private Limited (ISTPL), a Joint Venture Company, on a basis other than going concern and the Parent does not foresee any impairment in its investment value. Our opinion is not modified in respect of the above matter. .'
Page 17
Other Matters 7. We did not review the Interim Financial Result/Information of 3 (Three) foreign branches situated at Algeria, Myanmar, and Sri Lanka whose results reflect total assets of Rs. 815.72 crores as at September 30,2026, total revenue of Rs. 65.87 crores and Rs. 120.76 crores, total net profit after tax of Rs. 8.00 crores and Rs. 25.83 crores and total comprehensive income of Rs. 7.43 crores and Rs. 24.07 crores for the quarter and half year ended September 30, 2026, respectively and net cash outflow of Rs. 23.98 crores for the half year ended September 30, 2026. We have not visited these branches and the Interim Financial Result/Information of these branches have been reviewed by the branch auditors whose reports have been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these branches is based solely on the reports of such branch auditors and the procedures performed by us as stated in paragraph 3 above. 8. The Statement includes Company's proportionate share of net profit after tax of Rs. 0.59 lakhs and Rs. 0.87 lakhs for the quarter and half-year ended September 30, 2026, respectively, in respect of 2 (two) integrated joint operations (unincorporated). These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the reports of the other auditors. The Statement also includes the company's proportionate share of net profit after tax of Rs. 50.20 lakhs and Rs. 47.03 lakhs for the quarter and half-year ended September 30, 2026, respectively, in respect of 1 (one) joint operation (unincorporated). This interim financial result has not been reviewed by other auditors and is based solely on management certified accounts. According to the information and explanations given to us by the Management, these interim financial results are not material to the Company. 9. We did not review the Interim Financial Information of 11 (eleven) Subsidiaries included in the Consolidated Unaudited Financial Results, whose Standalone Unaudited Interim Financial Information reflect total assets of Rs. 9046.81 crores as at September 30, 2026, total revenues of Rs. 352.87 crores and Rs. 740.43 crores, total net profit/(Ioss) after tax of Rs. (5.07) crores and Rs. (26.21) crores and total comprehensive income/(Ioss) (net) of Rs. (5.07) crore and Rs. (26.21) crores, for the quarter and half year ended September 30, 2026 respectively and cash inflow/(Outflow) (net) of Rs. (23.98) crores for the half year ended September 30, 2026 as considered in the Unaudited Consolidated Financial results. 10. The Consolidated Unaudited Financial Results also include the Group's share of total net profit /(1055) after tax of Rs (8.87) crores and Rs. (19.47) crores, for the quarter and half year ended September 30, 2026, as considered in the Statement, in respect of 05 (five) Joint Ventures, whose Interim Financial Information have not been reviewed by us. These Interim Financial Information have been reviewed by other Auditors whose reports have been furnished to us by the Parent Company's Management and the Consolidated Unaudited Financial Results also include the Group's share of total net profit /(Ioss) after tax of Rs. (2.33) crores and Rs. (5.09) crores, for the quarter and half year ended September 30, 2026, as considered in the
Page 18
Statement, in respect of 02 (two) Joint Ventures, the figures have been certified by Management of the Joint Ventures. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these Subsidiaries and Joint Ventu res, is based solely on the reports of the other Auditors and figures furnished to us by the Management and the procedures performed by us as stated in Paragraph 3 above. Our conclusion on the statement is not modified in respect of the above matters. 11. The review of unaudited quarterly financial results for the period ended 30 June 2026, unaudited quarterly and half year ended 30 September 2025 and audit of Consolidated financial results for the year ended 31 March 2026 included in the Statement was carried out and reported by Mis Ramesh C Agrawal & Co., who has expressed unmodified opinion vide their review report dated 12 August 2026, 12 November 2025 and 22 May 2026, respectively, whose reports have been furnished to us and which have been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. CA Prateek Goyal Designated Partner M. No.: 411040 UDIN: 26411040GTZARV3408 Place: New Delhi Date: November 04, 2026