Shares of IRCON International Ltd ended 1.5% lower after touching a day’s high of Rs 173.40 on 26th September, despite the company securing a Letter of Acceptance (LoA) worth Rs 224.5 crore from North East Frontier Railways for composite works covering civil, electrical, mechanical, and signal & telecom infrastructure.

The project involves upgrading Vande Bharat maintenance facilities at New Jalpaiguri. Additionally, it involves constructing a GE locomotive shed at Siliguri to house 250 GE locomotives. Next-generation freight maintenance facilities will also be established in the Katihar division. The work is scheduled to be completed in 18 months.

IRCON said the order is entirely domestic, with no related-party transactions, and supports Indian Railways’ modernisation drive.

Last month, the company reported weak Q1 FY26 results. Profit after tax fell 26.5% to Rs 164.5 crore. Revenue from operations dropped 21.9% to Rs 1,786 crore. Furthermore, total income declined to Rs 1,892.4 crore.

Despite the slowdown, IRCON’s order book remained strong at Rs 20,973 crore as of 30th June, 2025. Out of this, Rs 15,724 crore was from railways, Rs 4,234 crore from highways, and Rs 1,015 crore from other sectors.

At 3:30 PM, the shares of IRCON International Ltd ended 1.52% lower at Rs 170.40 on NSE.

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