Dilip Buildcon Q4 FY26: EPC Business Remains Core Revenue Driver as Order Book Surges to ₹28,830 Crore Amid DBL 2.0 Transition

Dilip Buildcon Limited (DBL), a multi-asset infrastructure company, has announced its audited financial results for the fourth quarter and financial year ended March 31, 2026. The company highlighted continued progress under its “DBL 2.0” strategy, which focuses on expanding beyond EPC into mining, infrastructure assets, and long-duration contracted businesses to strengthen revenue visibility and cash-flow stability.

For Q4 FY26, on a consolidated basis, DBL reported revenue from operations of ₹2,300 crore, EBITDA of ₹392 crore, and EBITDA margin of 17.06%. Profit after tax (PAT) stood at ₹124 crore.

For the full financial year FY26, consolidated revenue from operations came in at ₹8,984 crore, while EBITDA stood at ₹1,766 crore with a margin of 19.66%. PAT for the year was ₹1,398 crore. The company’s consolidated net debt was reported at ₹7,244 crore as of March 31, 2026.

On a standalone basis, DBL posted Q4 FY26 revenue from operations of ₹1,860 crore, EBITDA of ₹199 crore, EBITDA margin of 10.70%, and PAT of ₹67 crore. For FY26, standalone revenue stood at ₹7,005 crore, EBITDA at ₹734 crore, and PAT at ₹842 crore.

The company’s order book reached an all-time high of ₹28,830 crore as of March 31, 2026, reflecting a diversified mix across infrastructure segments.

Commenting on the performance, Chairman and Managing Director Dilip Suryavanshi said the company has navigated multiple industry cycles and continues to strengthen its transition under DBL 2.0, aimed at increasing the share of profitability from long-term contracted assets.

CEO Devendra Jain noted that Q4 performance was in line with expectations despite industry-wide slowdown in order inflows, adding that margin pressure during the quarter was driven by higher input costs and lower asset utilisation, which are expected to be temporary.

Head of Strategy and Planning Rohan Suryavanshi stated that the company’s debt remains largely asset-backed and project-linked, supported by long-term infrastructure assets, mining operations, and InvIT distributions. He added that DBL 2.0 aims to build a more balanced infrastructure portfolio combining EPC and recurring cash-flow assets.

Looking ahead, the company said it aims to move toward a near net-debt-free position over the medium term, strengthen mining as a key cash-flow driver, expand PPP and InvIT-linked assets, and maintain disciplined capital expenditure.