Interarch Building Solutions Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Interarch Building Solutions Ltd filed with BSE on 21 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Interarch Building Solutions reported FY26 revenue of Rs 1,898 crore, up 31% year-on-year, with EBITDA of Rs 176 crore and profit after tax of Rs 135 crore. Management attributed a slower Q4 sequential growth of 8.7% to the company already running at full capacity in Q3, alongside minor site disruptions from labour shortages during elections and an LPG shortage. The company detailed progress on new capacity in Gujarat and Andhra Pradesh, export order wins from Africa, Canada and Myanmar, and a proposed joint venture with a Canadian partner for a 100% export unit.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: Rs 500 crores (Q4 FY26)
p. 9
“So, I think last quarter we have had a revenue of about Rs. 500 crores”
Arvind Nanda, page 9 of the filed PDF · View the filing
Revenue: Rs 1,898 crores (FY26)
p. 9
“which is for a full year we have done Rs. 1,898 crores, which is a 30% plus increase from the previous year”
Arvind Nanda, page 9 of the filed PDF · View the filing
EBITDA: Rs 53 crores (Q4 FY26)
p. 11
“Revenue has grown. EBITDA for the quarter is Rs. 53 crores in place of Rs. 49 crores in the carlier quarter.”
Arvind Nanda, page 11 of the filed PDF · View the filing
EBITDA margin: 10.5% (Q4 FY26)
p. 11
“EBITDA margin remains at 10.5% after even these adjustments”
Arvind Nanda, page 11 of the filed PDF · View the filing
Revenue: Rs 1,898 crores (FY26)
p. 11
“The total revenue for FY '26 is Rs. 1,898 crores compared to Rs. 1,453 crores, a growth of 31%.”
Arvind Nanda, page 11 of the filed PDF · View the filing
EBITDA: Rs 176 crores (FY26)
p. 11
“EBITDA Rs. 176 crores from Rs, 136 crores, 29% growth, very healthy.”
Arvind Nanda, page 11 of the filed PDF · View the filing
EBITDA margin: 9.3% (FY26)
p. 11
“EBITDA margin steady at 9.3% in spite of these provisions that we had to make and the extra costs we had to incur.”
Arvind Nanda, page 11 of the filed PDF · View the filing
Profit after tax: Rs 135 crores (FY26)
p. 11
“Profit after tax Rs. 135 crores instead of Rs. 108 crores, a 25% growth because a little bit extra tax we had to pay”
Arvind Nanda, page 11 of the filed PDF · View the filing
Order book: Rs 1,700 crores (as of April 2026)
p. 10
“Our order book is over Rs. 1,700 crores right now compared to what it was in April.”
Arvind Nanda, page 10 of the filed PDF · View the filing
Volume: 41,000 tons (Q4 FY26)
p. 17
“41,000 Q4, sir.”
Pushpendra K. Bansal, page 17 of the filed PDF · View the filing
Q4 revenue loss from site delays: Rs 20-25 crores (Q4 FY26)
p. 15
“Very little. T think I would say Rs. 25 crores, maybe Rs. 20-25 crores.”
Arvind Nanda, page 15 of the filed PDF · View the filing
PEB realization: Rs 120 per kg
p. 22
“The realization, I think, right now, I think on the Rs. 120 a kg is the realization on PEB”
Arvind Nanda, page 22 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — Rs 2,150 crores to Rs 2,200 crores · FY27
stated firmly by Arvind Nanda
p. 10
“I think we should be somewhere between Rs. 2,150 crores to Rs. 2,200 crores, which is very good.”
Arvind Nanda, page 10 of the filed PDF · View the filing
Revenue — Rs 2,500 crores · FY28
stated as an aspiration by Arvind Nanda
p. 10
“And Rs. 2,500 crores for 27-28 as projected some years ago.”
Arvind Nanda, page 10 of the filed PDF · View the filing
Heavy structure plant capacity — 60,000 tons · November or December next year
stated as an aspiration by Arvind Nanda
p. 9
“the plan currently is to add it to 60,000 tons by next November or December.”
Arvind Nanda, page 9 of the filed PDF · View the filing
Export orders — Rs 100 crores · FY27
stated as an aspiration by Arvind Nanda
p. 28
“If [ were to make a very wild guess, I would say that our aim should be to get at least Rs. 100 crores of orders.”
Arvind Nanda, page 28 of the filed PDF · View the filing
PAT margin — 7% to 7.5% · FY27
stated as an aspiration by Arvind Nanda
p. 22
“Yes, 7% to 7.5%. Yes, net.”
Arvind Nanda, page 22 of the filed PDF · View the filing
EBITDA margin
stated as an aspiration by Arvind Nanda
p. 26
“So, certainly we aim, our aim is always to get a much higher margin. We don't aim for 10%. We aim much higher.”
Arvind Nanda, page 26 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said long-standing relationships with steel majors meant no major disruption; minor issues were due to an LPG crisis and worker migration.
Answered by Arvind Nanda
Asked by Shubhankar Gupta: Did Interarch face steel supply disruptions like competitors reported in Q4?
p. 12
“So, we didn't face any distuption.”
Arvind Nanda, page 12 of the filed PDF · View the filing
Management said Pipeline 1 (near-term) is Rs 800-900 crores and Pipeline 2 (longer-term) is about Rs 3,500 crores, with no signs of slowdown.
Answered by Arvind Nanda
Asked by Rahul Kumar: What is the current bid pipeline versus three months ago?
p. 15
“Pipeline 1 would be about Rs. 700 crores to Rs. 800 crores, where orders would get finalized within the next 60 days.”
Arvind Nanda, page 15 of the filed PDF · View the filing
Management attributed negative OCF to larger, milestone-driven orders increasing debtor days and to inventory build-up ahead of price rises, not client risk.
Answered by Arvind Nanda
Asked by Sudeep Bora: Is cash flow from operations turning negative a concern from geopolitics or working capital stress?
p. 18
“But the debtors tend to go up whenever we do these larger orders.”
Arvind Nanda, page 18 of the filed PDF · View the filing
Management said a foundation redesign due to high water levels caused about a month's delay, but the plant remains on track for commercial production by July.
Answered by Arvind Nanda
Asked by Nikhil Purohit: Any delay in the Gujarat plant and Phase-2 timeline?
p. 20
“We realized that the water level is very high there. So, we had to change all our foundation drawings. And in that, we lost about a month, month and a half.”
Arvind Nanda, page 20 of the filed PDF · View the filing
Management indicated margins would likely stay similar to current levels due to new business costs like heavy structures and exports weighing on operating leverage.
Answered by Arvind Nanda
Asked by Deepankar Bisht: What PAT margin can be expected in FY27 given growth and expansion plans?
p. 22
“So, we are basically saying that whatever ‘margins we are making currently, that margin we should maintain.”
Arvind Nanda, page 22 of the filed PDF · View the filing
Management agreed margins should improve over time as the company moves up the value chain and gains productivity, but noted upfront costs for new segments currently weigh on margins.
Answered by Arvind Nanda
Asked by Nikhil Gupta: Given the complexity of the work, shouldn't EBITDA margins be higher than 10%?
p. 23
“You sce, I think the EBITDA margins should change for the better. There is no doubt.”
Arvind Nanda, page 23 of the filed PDF · View the filing
Management confirmed margin would have been about 9.7% instead of 9.3% excluding the one-time costs.
Answered by Pushpendra K. Bansal
Asked by Raghav Maheshwari: Adjusting for one-off costs like labor code provisions and certifications, what would EBITDA margin have been?
p. 30
“9.7%, sir. Our EBITDA margin could have been 9.7%.”
Pushpendra K. Bansal, page 30 of the filed PDF · View the filing
Management named manpower shortage at construction sites as the biggest challenge going forward.
Answered by Arvind Nanda
Asked by Raghav Maheshwari: What hindrances does management foresee in FY27?
p. 30
“I think there will be shortage of people going forward.”
Arvind Nanda, page 30 of the filed PDF · View the filing
Management explained order intake is capped by delivery capacity since orders must be executed within about nine months.
Answered by Arvind Nanda
Asked by Om Bhandarkar: Why is order book inflow not growing faster?
p. 31
“So, if my average order book is already nine months, I can't take more orders or increase my order intake unless I build up more capacity.”
Arvind Nanda, page 31 of the filed PDF · View the filing
Risks flagged
Rising working capital and debtor days from larger, milestone-driven orders
p. 17
“So, as we get into larger project values, our debtors tend to go up because a lot of the dues will come”
Arvind Nanda, page 17 of the filed PDF · View the filing
Future manpower shortage in the construction industry
p. 30
“I think how well prepared we are to pick up that challenge.”
Arvind Nanda, page 30 of the filed PDF · View the filing
Upfront costs for new business lines like heavy structures and exports without corresponding revenue
p. 24
“a lot of the expenses in preengineered building and heavy structures and exports are being made at a time when there is no income from them.”
Arvind Nanda, page 24 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.