AGI Infra reports 39% rise in September-quarter profit

AGI Infra Limited reported consolidated profit of Rs 30.7353 crore for the quarter ended September 30, 2026, up 39% from Rs 22.0483 crore a year earlier, as revenue from operations rose 17% to Rs 100.1884 crore. The board approved the unaudited consolidated results on November 6, 2026.

What drove AGI Infra's September-quarter profit increase?

AGI Infra increased September-quarter profit because total income grew faster than total expenses. Total income rose to Rs 102.7726 crore in the quarter ended September 30, 2026, from Rs 87.1378 crore in the corresponding quarter a year earlier, while total expenses increased to Rs 65.553 crore from Rs 60.4195 crore.

Revenue from operations rose to Rs 100.1884 crore from Rs 85.3033 crore, while other income increased to Rs 2.5842 crore from Rs 1.8345 crore. With no exceptional items in either period, profit before tax rose to Rs 37.2196 crore from Rs 26.7183 crore. Current tax expense increased to Rs 6.4843 crore from Rs 4.67 crore.

How did AGI Infra's costs change in the September quarter?

AGI Infra recorded higher finance and employee costs, while the inventory movement reduced reported expenses. Finance costs rose to Rs 4.9368 crore from Rs 3.7074 crore, and employee benefits expense increased to Rs 13.3283 crore from Rs 10.4959 crore in the September 2025 quarter.

Cost of materials consumed increased to Rs 98.2096 crore from Rs 75.9238 crore. However, changes in inventories of finished goods and work in progress reduced expenses by Rs 57.7477 crore, compared with a Rs 38.4919 crore reduction a year earlier. Depreciation and amortisation fell to Rs 4.068 crore from Rs 5.031 crore, while other expenses declined to Rs 2.758 crore from Rs 3.7534 crore.

On a sequential basis, revenue from operations rose from Rs 96.4415 crore in the quarter ended June 30, 2026, to Rs 100.1884 crore in the September quarter. Profit for the period increased from Rs 27.5391 crore, while profit before tax rose from Rs 33.3691 crore to Rs 37.2196 crore. Finance costs were Rs 4.2958 crore and employee benefits expense was Rs 10.8216 crore in the June quarter.

What do AGI Infra's half-year results show?

AGI Infra reported consolidated profit of Rs 58.2744 crore for the half year ended September 30, 2026, up from Rs 42.0628 crore in the previous-year period. Revenue from operations increased to Rs 196.6299 crore from Rs 176.918 crore, while total income rose to Rs 202.3245 crore from Rs 180.6883 crore.

Profit before tax for the six months increased to Rs 70.5887 crore from Rs 50.9828 crore. Total expenses rose to Rs 131.7358 crore from Rs 129.7055 crore, with finance costs increasing to Rs 9.2326 crore from Rs 6.8585 crore and employee benefits expense rising to Rs 24.1499 crore from Rs 21.5037 crore.

AGI Infra reported basic and diluted earnings per share of Rs 4.66 for the half year, compared with Rs 3.44 in the prior-year period. September-quarter basic and diluted earnings per share were Rs 2.46, compared with Rs 1.80 a year earlier. Other comprehensive income was nil, leaving total comprehensive income after tax at Rs 58.2744 crore for the half year.

What do AGI Infra's cash flow and balance-sheet figures show?

AGI Infra reported net cash from operating activities of Rs 17.9027 crore for the half year ended September 30, 2026. Net cash used in investing activities was Rs 29.7678 crore and net cash used in financing activities was Rs 23.5561 crore, resulting in a net decrease in cash and cash equivalents of Rs 35.4212 crore.

Cash and cash equivalents were Rs 63.0269 crore at September 30, 2026, compared with Rs 98.4481 crore at the start of the financial year. The cash-flow statement recorded a Rs 141.4485 crore increase in inventories and a Rs 102.6266 crore increase in other current liabilities. Financial costs paid during the half year were Rs 9.2326 crore.

Total consolidated assets stood at Rs 1,743.0479 crore at September 30, 2026, compared with Rs 1,578.2001 crore at March 31, 2026. Inventories rose to Rs 1,223.7505 crore from Rs 1,082.302 crore. Non-current borrowings declined to Rs 109.6973 crore from Rs 125.514 crore, while current borrowings increased to Rs 60.6572 crore from Rs 60.1006 crore.

How were AGI Infra's results reviewed and reported?

AGI Infra's consolidated results received a limited review from R.S. Kalra & Associates rather than a full audit. The auditor stated that nothing had come to its attention to indicate that the unaudited consolidated statement had not disclosed information required under applicable Securities and Exchange Board of India listing regulations.

AGI Infra reports one segment, Construction and Real Estate Development, so the filing does not provide separate revenue or profit data by project or activity. The auditor said one subsidiary's interim information contributed Rs 7.80 lakh of group net profit after tax in the September quarter and Rs 12.57 lakh in the half year. The company reported no investor complaints pending at the quarter's start and none received during it.

Conclusion

AGI Infra converted a 17% increase in September-quarter revenue from operations into a 39% rise in consolidated profit, as total income grew by Rs 15.6348 crore while total expenses increased by Rs 5.1335 crore. The half-year result showed the same pattern, with profit reaching Rs 58.2744 crore despite higher finance and employee costs.

The next reported financial position will show how inventories and cash develop after inventories reached Rs 1,223.7505 crore and cash and cash equivalents declined by Rs 35.4212 crore during the half year. The filing provides no financial target, project completion schedule or management outlook, and continues to report activity through one Construction and Real Estate Development segment.