Dilip Buildcon LimitedQ1FY27 Results & Financial Update
Dilip Buildcon Limited: Q1FY27 consolidated results and company financials – revenue ₹2,378.00 Cr, PAT ₹128.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Dilip Buildcon price & chart
Market price₹397.00
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Dilip Buildcon Q1FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Consolidated operating profitability demonstrated sequential strength, with EBITDA margin expanding to 18.1% in Q1 FY27 compared to 17.1% in Q4 FY26, driven by underlying operational improvements.
Management noted that the prior-year period's profitability (Q1 FY26) included a one-time gain from asset monetization that did not recur, meaning like-for-like operating margins improved sequentially during the quarter.
The total order book stood at ₹27,691 crore as of June 30, 2026, moderating sequentially from ₹28,830 crore at the end of March 31, 2026, as execution pace outpaced fresh order intake while the company remained selective in pursuing new contracts.
Standalone net debt increased to ₹2,106 crore as of June 30, 2026, compared to ₹1,880 crore as of March 31, 2026, and ₹1,661 crore as of June 30, 2025, driven by a build-up in trade receivables from extended billing cycles and equipment mobilization for new projects.
Despite the temporary rise in working capital requirements, management reaffirmed its commitment to achieving a net debt-free standalone balance sheet target by FY28.
01 · Business model
What does Dilip Buildcon do?
Dilip Buildcon Limited operates as a diversified infrastructure and engineering platform in India with over three decades of execution experience across large-scale public and private development projects.
The company maintains a physical footprint across 20 states and one Union Territory, supported by an operating workforce of 21,221 employees and an equipment fleet exceeding 10,394 units.
Through its strategic DBL 2.0 framework, the business is transitioning from a pure-play engineering, procurement, and construction (EPC) contractor into a multi-asset infrastructure platform focused on long-duration, contracted cash-flow streams.
Its operational verticals span roads and highways, rail and metro, airports, coal and bauxite mining (MDO contracts), irrigation, tunnels, special bridges, urban development, renewable energy, and power transmission.
02 · Historical context
What shaped the business before this quarter
Established in 1987, the company has accumulated over 38 years of execution experience across multiple infrastructure cycles, navigating geopolitical disruptions, commodity volatility, and macroeconomic uncertainties.
The company historically operated primarily as a pure-play EPC contractor before initiating its DBL 2.0 strategy to transition toward a multi-asset platform with long-duration contracted businesses.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1FY27 |
|---|---|
| Revenue from operations | ₹2,378.00 Cr |
| EBITDA | ₹429.00 Cr |
| Profit after tax | ₹128.00 Cr |
| EBITDA margin | 18.10% |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Gross revenue from the EPC business stood at ₹1,752 crore in Q1 FY27, serving as the primary driver of standalone revenue through execution across roads, irrigation, and water supply verticals.
Mining operations contributed ₹392 crore in gross revenue during Q1 FY27, supported by production ramp-ups at the Siarmal and Pachhwara coal MDO projects and the Pottangi bauxite MDO project.
Income from Infrastructure Investment Trusts (InvITs) contributed ₹34.77 crore in Q1 FY27, supporting long-duration, contracted cash flows.
What drove margins
Management clarified that profitability in the corresponding quarter of the previous year (Q1 FY26) benefited from a one-time asset monetization gain, making operational margin comparisons higher on a normalized basis.
05 · Demand, customers & order book
Where demand is coming from
Fresh order intake during Q1 FY27 totaled ₹517.2 crore, which included a new ₹268 crore EPC win.
Order book figures as of June 30, 2026, exclude a major new irrigation project won in July 2026 in Chhattisgarh with a total project cost of ₹2,524.32 crore.
The DBL-RBL joint venture received the Letter of Award for the Ged Barrage EPC project in Gujarat from the Narmada Water Resources, Water Supply & Kalpasar Department.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The order book remains diversified across roads and highways (17.1%), irrigation and water (18.1%), mining (20.9%), and other infrastructure verticals including rail, tunnels, urban development, and renewable energy (43.9%).
Mining MDO contracts operate across durations of 25 to 55 years, extending well beyond the typical duration of traditional EPC construction contracts.
Geography and market mix
The company operates across 20 Indian states and one Union Territory, enabling simultaneous execution across multiple regional projects.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company deploys a heavy machinery fleet of over 10,394 equipment units supported by a workforce of 21,221 employees.
Projects, capex and execution
Capital allocation during the quarter included equipment mobilization outlays for newly awarded projects, specifically the Ged Barrage and ERCP Bandh Baretha projects.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company is advancing its DBL 2.0 strategy, expanding its footprint in long-duration contracted assets such as mining MDOs, InvIT investments, and alternative infrastructure verticals.
09 · Reported developments
What changed operationally
Consolidated EBITDA margin expanded sequentially to 18.1% in Q1 FY27 from 17.1% in Q4 FY26.
Secured ₹517.2 crore in fresh order inflows during the quarter alongside subsequent project wins in July 2026, including the ₹2,524.32 crore Chhattisgarh irrigation project.
10 · Pressure points & risks
What is not going smoothly
Standalone net debt rose sequentially by ₹226 crore to ₹2,106 crore due to extended billing cycles and project mobilization expenses.
11 · Items worth noticing
The line items that can distort a quick read
Management noted that Q1 FY26 profitability included a one-time gain from asset monetization that did not recur in Q1 FY27.
12 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Standalone net debt increased due to a rise in trade receivables resulting from extended billing cycles during the quarter.
Management stated that the company is actively working to normalize collection cycles and improve operating cash flows.
Capital allocation & funding
Standalone net debt stood at ₹2,106 crore as of June 30, 2026, compared to ₹1,880 crore as of March 31, 2026, and ₹1,661 crore as of June 30, 2025.
Management noted that the company's debt profile remains predominantly asset-backed and project-linked.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Executive Leadership
The press release highlights commentary from Chairman and Managing Director Mr. Dilip Suryavanshi and CEO Mr. Devendra Jain regarding execution scale and operational strategy.
14 · Previous-quarter changes
What changed since the previous quarter
Standalone net debt increased from ₹1,880 crore at March 31, 2026, to ₹2,106 crore at June 30, 2026.
Order book decreased sequentially from ₹28,830 crore at March 31, 2026, to ₹27,691 crore at June 30, 2026.
15 · Key Q&A
The quarter, answered directly
What does Dilip Buildcon do?
Dilip Buildcon Limited operates as a diversified infrastructure and engineering platform in India with over three decades of execution experience across large-scale public and private development projects.
What is the clearest takeaway from Q1FY27?
Consolidated operating profitability demonstrated sequential strength, with EBITDA margin expanding to 18.1% in Q1 FY27 compared to 17.1% in Q4 FY26, driven by underlying operational improvements.
What drove revenue or demand?
Gross revenue from the EPC business stood at ₹1,752 crore in Q1 FY27, serving as the primary driver of standalone revenue through execution across roads, irrigation, and water supply verticals.
What mattered most for margins or profitability?
Management clarified that profitability in the corresponding quarter of the previous year (Q1 FY26) benefited from a one-time asset monetization gain, making operational margin comparisons higher on a normalized basis.
What changed operationally beyond the headline numbers?
The company deploys a heavy machinery fleet of over 10,394 equipment units supported by a workforce of 21,221 employees.
What are the main pressure points disclosed for the quarter?
Standalone net debt rose sequentially by ₹226 crore to ₹2,106 crore due to extended billing cycles and project mobilization expenses.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario operating profit₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Collection Normalization: Monitor the company's progress in normalizing trade receivables and improving operating cash flows to support the FY28 net debt-free target.
- 02
Order Intake vs Execution: Track future order inflows against execution run-rates to observe whether order book replenishment outpaces project delivery.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.