Lcc Projects has received a Letter of Commitment for Civil Works valued at Rs 70.35 crore from Reliance Industries Limited. The project covers the construction of the 400kV Main Pooling GIS Substation and 400kV Mobile GIS 1 Substation at Kutch, Gujarat, under the Kutch RE Project – Z2.

Order Details and Timeline

The new contract is classified as significant and was disclosed to the exchange on 26.09.2026. The execution timeline for the Main Pooling GIS Substation is 9 months, while the Mobile GIS 1 Substation has a timeline of 4 months. This order marks a diversification of the company's client base, moving beyond government water resources departments to private sector energy majors.

Recent Order History

This new award follows closely on the heels of a major order won by the company earlier this month. On 24.09.2026, Lcc Projects emerged as the L-1 bidder for a work order valued at Rs 653.34 crore from the Chief Engineer Water Resources Zone, Kota (Rajasthan). That contract involves the construction of the Chhoti Kalisindh Medium Irrigation Project on a turnkey basis.

The company has now disclosed two orders totaling Rs 723.69 crore in the current quarter (Q2FY27). Previously, there were no disclosed orders in the preceding three fiscal quarters.

Company Order Track Record

The pre-computed summary for Q2FY27 (Jul-Sep 2026) reflects the total order inflow of Rs 653.34 crore initially reported. With the addition of the Reliance Industries order, the quarterly inflow increases significantly. The distinct key awarding entities for the quarter now include both the Chief Engineer Water Resources Zone, Kota (Raj.) and Reliance Industries Limited.

Financial Context and Execution Capacity

The company's consolidated revenue for FY26 stood at Rs 3639.50 crore, with a net profit of Rs 286.40 crore. Operating Profit Margin (OPM) improved to 13.38% in FY26 from 12.96% in FY25. The new orders contribute to future revenue recognition, with the Reliance project having a shorter execution cycle compared to the multi-year irrigation project.

Working Capital and Valuation

The company maintains a Current Ratio of 1.46x, suggesting adequate liquidity for short-term obligations. Total Liabilities/Equity stands at 1.74x, indicating moderate leverage when considering trade payables and other non-debt liabilities. Operating Cashflow turned positive at Rs 158.40 crore in FY26, up from Rs 23.60 crore in FY25.

As of 26 Sep 2026, the stock trades at a P/E of 14.6x against an ROCE of 46.86%. The market capitalization is recorded at ₹4320.16 Cr. The addition of these orders provides visibility into near-term revenue streams, particularly from the shorter-duration Reliance contract.

LCC Projects Limited submitted its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information to the National Stock Exchange and BSE on September 17, 2026. The filing ensures compliance with Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The company, formerly known as LCC Projects Private Limited, uploaded the document to its website for public access. Gayatri Desai, Company Secretary and Compliance Officer, signed the intimation letter addressed to the listing departments of both exchanges.

Regulatory Compliance Framework

The submission aligns with the company's obligation to frame a code for fair disclosure under Regulation 8(1). The policy governs the handling of unpublished price sensitive information by designated persons, including promoters, directors, key managerial personnel, and senior managers in finance, legal, and technical departments.

Key Policy Provisions

• Unpublished price sensitive information must be disclosed promptly and uniformly to prevent selective advantage.
• Trading windows close from the end of every quarter until 48 hours after financial results are declared.
• Designated persons must obtain pre-clearance for trades during open windows and report transactions within two days.
• Chinese walls separate insider areas from public areas to prevent inadvertent leaks.

What the Numbers Show

The filing contains no financial metrics, revenue figures, or balance sheet data. It is a procedural compliance document rather than a financial result announcement. Consequently, no analytical observation regarding operational performance or financial health can be derived from this source.