IRCON International Limited has announced that the National Stock Exchange of India Limited (NSE) has granted a waiver for fines that were levied against the company for delayed compliance with certain SEBI regulations. The development was communicated through a disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on February 17, 2026.

NSE Grants Fine Waiver

The NSE, through its letter dated February 16, 2026, informed IRCON International that the company's waiver application was placed before the relevant authority and was considered favorably. The fines were originally imposed for delays in compliance with specific provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Waived Compliance Issues

The fine waiver covers non-compliance issues across multiple quarters for two key regulatory requirements:

Regulatory Framework

The waiver pertains to compliance requirements under SEBI's listing regulations, which mandate listed companies to maintain specific committee structures and reporting timelines. Regulation 20(2)/(2A) relates to the constitution and functioning of the Stakeholder's Relationship Committee, while Regulation 21(2) concerns the Risk Management Committee requirements.

Company Communication

The disclosure was signed by Pratibha Aggarwal, Company Secretary and Compliance Officer of IRCON International, with membership number F8874. The communication was made pursuant to the company's obligations under Regulation 30 of SEBI (LODR) regulations, which requires disclosure of material events and information.

About the Development

This favorable decision by NSE provides relief to IRCON International from the financial impact of the compliance-related fines. The waiver demonstrates the exchange's consideration of the company's circumstances and its application for relief from the penalties that were imposed for the delayed compliance across the specified quarters in 2024-25.

IRCON International Limited officially published its unaudited financial results for the third quarter and nine months ended December 31, 2025, following Board approval on February 11, 2026. The results were published in leading newspapers including Financial Express, The Indian Express, and Jansatta on February 12, 2026, in compliance with SEBI regulations.

Financial Performance Overview

The company's standalone performance showed significant year-on-year contractions across key financial metrics during Q3FY26.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, demonstrated similar revenue and profit pressures. Standalone revenue from operations declined to ₹5,481.07 crore from ₹6,949.69 crore in the corresponding period of the previous year.

Consolidated Performance

On a consolidated basis, the company's performance reflected similar trends. Consolidated revenue from operations for Q3FY26 stood at ₹2,119.04 crore compared to ₹2,612.86 crore in Q3FY25. Consolidated net profit attributable to owners increased to ₹100.66 crore from ₹86.59 crore in the previous year quarter.

Interim Dividend Declaration

Despite the challenging financial performance, the Board declared an interim dividend for the financial year 2025-26.

Regulatory Compliance and Publication

The financial results were formally communicated to BSE Limited and National Stock Exchange of India Limited through official correspondence dated February 12, 2026. The company's Company Secretary and Compliance Officer, Pratibha Aggarwal, signed the regulatory filings confirming compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Book and Business Outlook

According to the analyst presentation, IRCON maintains a robust order book of ₹23,801 crore as of December 31, 2025. The order book composition shows strong diversification across sectors and geographies.