Hindustan Construction Company reported a weaker year-on-year performance for Q4 FY26, with revenue, EBITDA and profit declining compared with the corresponding quarter last year. However, the company showed a sharp sequential recovery in operating margin from Q3 FY26.
The company’s income from operations stood at Rs 992.2 crore in Q4 FY26, compared with Rs 1,373.7 crore in Q4 FY25, marking a 27.8% year-on-year decline. On a sequential basis, income from operations improved from Rs 925.3 crore in Q3 FY26.
Total income came in at Rs 1,017.5 crore, compared with Rs 1,392.2 crore in the year-ago quarter and Rs 961.5 crore in the previous quarter.
EBITDA, excluding other income, stood at Rs 170.8 crore, down 60.2% from Rs 429.5 crore in Q4 FY25. EBITDA margin contracted to 17.21%, compared with 31.27% in the year-ago period.
The year-on-year margin comparison was impacted by the unusually high base in Q4 FY25. Sequentially, however, EBITDA margin improved sharply from 7.26% in Q3 FY26 to 17.21% in Q4 FY26, indicating recovery in operating performance during the March quarter.
Profit before tax stood at Rs 92.0 crore, compared with Rs 173.2 crore in Q4 FY25 and Rs 15.4 crore in Q3 FY26. Profit after tax declined 34.6% year-on-year to Rs 58.9 crore, compared with Rs 90.1 crore in the corresponding quarter last year. Sequentially, PAT improved from Rs 8.1 crore in Q3 FY26.
Finance cost remained elevated at Rs 104.7 crore, compared with Rs 111.4 crore in Q4 FY25 and Rs 123.0 crore in Q3 FY26. The finance cost remains a key structural pressure point for the company, especially against quarterly revenue of Rs 992.2 crore.
Construction cost, including material and other expenses, stood at Rs 731.7 crore, compared with Rs 868.1 crore in Q4 FY25. Employee cost rose to Rs 89.7 crore, compared with Rs 76.1 crore in the year-ago quarter.
Overall, Hindustan Construction Company’s Q4 FY26 results showed weaker year-on-year revenue and profit performance, but a notable sequential recovery in EBITDA margin and profitability. The key concerns remained the year-on-year decline in execution revenue and high finance costs.
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