Ahluwalia Contracts (India) Ltd reported a strong fiscal performance for FY26, with consolidated revenue rising 11.38% to ₹4,565.20 crore and profit after tax climbing 31.7% to ₹265.86 crore. The construction major maintains a robust order book of ₹21,096.3 crore, ensuring long-term revenue visibility. Additionally, the company announced a dividend of ₹0.70 per share and confirmed the amalgamation of five wholly-owned subsidiaries to streamline operations. Management has been strengthened with key re-appointments, and CARE Ratings has reaffirmed the company’s 'AA-' stable rating, signaling financial stability.
Ahluwalia Contracts Reports Strong Growth for FY26
Consolidated profit after tax hit ₹265.86 crore, a 31.7% year-on-year rise.
Revenue from operations reached ₹4,565.20 crore, growing 11.38% compared to the previous fiscal year.
Reader Takeaway: Strong order book provides solid revenue visibility, though investors should monitor the upcoming subsidiary amalgamation progress.
What just happened
Ahluwalia Contracts (India) Ltd has closed FY26 with a robust set of financial results. Beyond the double-digit growth in top-line revenue, the company successfully improved its operational efficiency, pushing EBITDA margins to 9.5% from 8.34%. Earnings per share (EPS) saw a significant jump to ₹39.69, up from ₹30.17 in the previous year. The Board has also recommended a dividend of ₹0.70 per share for shareholders.
Why this matters
The company’s order book remains its strongest asset, with an unexecuted net order book of ₹21,096.3 crore. This provides a clear runway for execution and revenue generation across 53 ongoing projects in 16 states. The ongoing amalgamation of five wholly-owned subsidiaries is expected to simplify the corporate structure and improve operational synergies, reflecting a move toward more streamlined governance.
Management and Governance
The company has ensured leadership continuity by re-appointing Mr. Shobhit Uppal as Dy. Managing Director and Mr. Vikas Ahluwalia as Whole-time Director for a five-year term starting April 2026. This stability is further underscored by the CARE Ratings reaffirmation of 'CARE AA-' (Stable) and 'CARE A1+' ratings, reflecting confidence in the firm's balance sheet strength.
Risks to watch
Investors should track the execution pace of large-scale projects like the Central Vista and airport developments. While the order book is healthy, construction companies are often sensitive to inflationary pressures in raw material costs and project execution timelines. The successful completion of the subsidiary merger will also be a key operational milestone to monitor.