Afcons Infrastructure shares in focus after Q4 net loss; revised guidance miss for FY26

Shares of Afcons Infrastructure Ltd. are in focus on Tuesday, May 19, after the company reported a weak set of earnings and missed its full-year guidance across parameters. The guidance was already revised lower multiple times during the year.

The company reported a net loss of ₹88.4 crore in the fourth quarter compared to a net profit of ₹110.9 crore in the previous year.

Revenue for the March quarter was down 18.9% to ₹2,613.8 crore from ₹3,223.3 crore.

The company's earnings before interest, tax, depreciation and amortization (EBITDA) declined 85.4% to ₹42.9 crore from ₹293.6 crore in the previous year.

EBITDA margins contracted sharply to 1.6% from 9.1% in the year-ago period.

At the end of the quarter, Afcons Infra's orderbook is at ₹32,496 crore and its order inflow in the financial year 2026 was at ₹4,125 crore.

Domestic orders made up 87.29% of its order book, while overseas ones comprised of the remaining 12.71%. The company's book-to-bill ratio was at 2.72x.

FY26 Guidance Miss

Afcons India also missed its reduced guidance for the full year.

At the beginning of the year Afcons had guided for 20% - 25% growth in its topline, which was trimmed to 10% in the second quarter and 5% in the third quarter. However, at the end of the year, the actual figure was a decline of 5%.

Afcons Infra had pegged the FY26 order inflow to be ₹20,000 crore. At the end of the year, the figure ended up at ₹4,125 crore.

The company had guided for margins to be in excess of 11%, including other income. The figure at the end of the year stood at 11.7%.

Afcons Infra shares declined 4.9% to ₹320.05 apiece. The stock has declined 18.6% this year, so far.

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