IL&FS Engineering and Construction Company Limited has filed its Integrated Annual Report for the financial year ended March 31, 2026 with BSE Limited and the National Stock Exchange of India Limited, in compliance with Regulation 34(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was submitted on June 25, 2026, ahead of the company's 37th Annual General Meeting (AGM) scheduled for July 31, 2026 at 11:30 AM (IST) through Video Conference/Other Audio-Visual Means.

Financial Performance: Standalone and Consolidated

The company reported a turnaround to profitability on a standalone basis in FY 2025-26, even as overall revenues declined significantly. The following table summarises the key financial results:

On a standalone basis, the company achieved a turnover of Rs. 257.77 Crore in FY 2025-26 compared to Rs. 372.33 Crore in the previous year. The net profit for the year stood at Rs. 0.19 Crore, against a net loss of Rs. 4.92 Crore in the previous year. The company has accumulated losses of Rs. 3,600.18 Crore as at March 31, 2026, and its net worth remains fully eroded at Rs. (3,186.54) Crores.

Operational Highlights and Order Book

The company executed orders worth Rs. 187.92 Crore (approx.) during FY 2025-26, compared to Rs. 321.38 Crore in the previous year. The closing order book as at March 31, 2026 stood at Rs. 12.89 Crore, a sharp decline from Rs. 635 Crore in the prior year. The sector-wise order book position is presented below:

The company continues to execute various EPC and item-rate projects with government and private clients in sectors including Railways & Metros, Water & Irrigation, and Roads. Most projects are nearing completion. The company's total debt stood at Rs. 2,667.42 Crores as at March 31, 2026, compared to Rs. 2,667.80 Crores in the prior year.

Key Financial Ratios

The following key financial ratios were reported for FY 2025-26 and FY 2024-25:

The Interest Coverage Ratio, Debt Equity Ratio, Return on Capital Employed, and Return on Equity have not been disclosed as the company's net worth is negative.

Resolution Process and Going Concern

The company continues to operate under the resolution framework approved by the Hon'ble National Company Law Appellate Tribunal (NCLAT). The company has been classified as a "Red Entity" under the IL&FS resolution framework, indicating its current inability to service debt and operational liabilities. A binding bid received from an overseas fund for acquisition of the promoters' equity stake has been approved by the Committee of Creditors (CoC) and is currently under consideration by Hon'ble Justice D.K. Jain (Retd.), following which approval of the Hon'ble NCLT, Mumbai will be sought.

The statutory auditors have highlighted a material uncertainty related to going concern, noting continued losses, erosion of net worth, and significant reduction in income from operations. The company has not recognised interest expense of Rs. 460.44 Crores (excluding penal/other interest and charges) for the year ended March 31, 2026, pursuant to the NCLAT order specifying October 15, 2018 as the cut-off date. The aggregate amount of interest expense not recognised as at March 31, 2026 stands at approximately Rs. 3,080.33 Crores.

AGM and Corporate Governance

The 37th AGM will be held on July 31, 2026 at 11:30 AM (IST) through VC/OAVM. The cut-off date for e-voting entitlement is July 23, 2026, and remote e-voting will be open from July 28, 2026 (9:00 AM) to July 30, 2026 (5:00 PM). The Board of Directors comprises six non-executive directors, including three independent directors. During FY 2025-26, Mr. Subrata Kumar Atindra Mitra and Dr. Jagadip Narayan Singh were re-appointed as Independent Directors for a second tenure of five years effective January 15, 2026. The company had 194 permanent employees on its rolls as on March 31, 2026. No dividend has been recommended for FY 2025-26, and no amount has been transferred to reserves.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE369I01014/06149c8272d143ae.pdf

IL&FS Engineering and Construction Company has secured a subcontract worth Rs 414.05 crore for the design and construction of the Jaipur Metro Phase-II MRTS project. The contract, awarded by Jaipur Metro Rail Corporation Limited, encompasses the development of an elevated viaduct and ten elevated stations. This portion of the work represents 49% of the total contract value.

The project scope includes stations at Prahladpura, Manpura, Bilwa Kalan, Goner Mod, Sitapura, JECC, Kumbha Marg, Haldighati Gate, and Pinjrapole Gaushala, excluding architectural finishing. The construction will span from chainage -600 m to 11400 m and includes a spur line towards the depot. The total cost of Rs 414.05 crore is inclusive of GST and other taxes.

The company received the Letter of Award from the Lead Member of the Consortium, acting as the Main Contractor. This disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015.

Project Details

The stations to be constructed are located along a specific stretch, with the work excluding architectural finishing for the Pinjrapole Gaushala station. The subcontract arrangement positions IL&FS Engineering and Construction Company as a key partner in the expansion of the Jaipur Metro rail network.