AGI INFRA LIMITED — Financial Results Analysis
Date of Report: August 14, 2025
Period Covered: Quarter ended June 30, 2025 (Q1 FY26)
1. Auditor’s Note
- Type: Limited Review Report by R.S. Kalra & Associates (Independent Auditor)
- Conclusion:
- No qualifications, concerns, or issues reported.
- The review was conducted as per applicable standards (SRE 2410).
- The financial results comply with Indian Accounting Standards (Ind AS 34) and SEBI Listing Regulations.
- No material misstatements or disclosure deficiencies noted.
- Entities Covered: Consolidated results include AGI Infra Limited and its subsidiary AGI Cold Chain Private Limited.
Summary: Auditor’s note is clean with no qualifications or reservations.
2. Financial Performance
| Metric | Q1 FY26 (30.06.2025) | Q4 FY25 (31.03.2025) | Q1 FY25 (30.06.2024) | FY25 (01.04.2024-31.03.2025) | FY24 (01.04.2023-31.03.2024) |
|---|---|---|---|---|---|
| (Rs. in Lakhs) | |||||
| Revenue from Operations | 9,161.47 | 8,327.69 | 7,262.50 | 32,487.32 | Not provided |
| Other Income | 193.58 | 563.57 | 194.55 | 1,257.54 | Not provided |
| Total Income | 9,355.05 | 8,891.26 | 7,457.05 | 33,744.86 | Not provided |
| Expenses (Total) | 6,928.58 | 7,648.48 | 5,699.50 | 26,329.54 | Not provided |
| - Cost of Materials Consumed | 6,855.73 | 14,534.15 | 4,762.02 | 33,073.73 | Not provided |
| - Purchases of Stock-in-Trade | (2,146.50) | (9,336.72) | (1,088.27) | (15,800.99) | Not provided |
| - Change in Inventories | 1,100.78 | 800.11 | 1,241.44 | 4,293.36 | Not provided |
| - Employee Benefits Expense | 315.11 | 426.49 | 280.38 | 1,266.03 | Not provided |
| - Finance Costs | 485.40 | 463.20 | 310.87 | 1,830.20 | Not provided |
| - Depreciation & Amortisation | 318.06 | 761.25 | 193.06 | 1,667.21 | Not provided |
| - Other Expenses | N/A | N/A | N/A | N/A | N/A |
| Profit Before Exceptional Items & Tax (EBITDA proxy) | 2,426.47 | 1,242.78 | 1,757.56 | 7,415.32 | Not provided |
| Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax (PBT) | 2,426.47 | 1,242.78 | 1,757.56 | 7,415.32 | Not provided |
| Tax Expense | |||||
| - Current Tax | 425.00 | 253.62 | 316.36 | 1,332.86 | Not provided |
| - Deferred Tax | 0.00 | 0.00 | 0.00 | 0.00 | Not provided |
| Net Profit (PAT) | 2,001.47 | 1,573.64 | 1,441.20 | 6,666.94 | Not provided |
| Earnings Per Share (Rs.) | |||||
| - Basic | 8.19 | 6.44 | 5.90 | 27.29 | Not provided |
| - Diluted | 8.19 | 6.44 | 5.90 | 27.29 | Not provided |
Notes:
- Figures are consolidated and standalone (almost identical).
- Margins can be approximated as:
- Q1 FY26 EBITDA margin: ~25.96% (2,426.47 / 9,355.05)
- Q1 FY26 Net Profit margin: ~21.4% (2,001.47 / 9,355.05)
- Significant increase in revenue and profit compared to Q1 FY25 and Q4 FY25, indicating growth.
- No exceptional items impacting profitability.
3. Detailed Notes / Management Commentary
- Financial results prepared as per Ind AS 34 and Companies Act, 2013.
- Previous period figures regrouped/reclassified where necessary.
- Only one reportable segment: Construction and Real Estate Development.
- No investor complaints pending or received during the quarter.
- No changes in accounting policies or material adjustments reported.
- No discontinued operations reported in standalone results.
- No mention of NPAs, slippages, or AUM as the company operates in construction/real estate development.
- Other expenses details not separately disclosed in standalone results.
4. Segment Information
- Single reportable segment: Construction and Real Estate Development.
- No further breakdown by geography, product, or subsidiary provided.
5. Capex, Projects, and Corporate Activity
- No explicit disclosures on:
- Capital expenditure (planned or executed)
- Ongoing or planned projects
- Writedowns, writebacks, impairments, or provisions
- Acquisitions, disposals, divestitures, or mergers
- Restructuring efforts or cost-cutting measures
- No exceptional items reported, indicating no material one-off corporate activities.
6. Standalone vs Consolidated
| Aspect | Standalone Results | Consolidated Results |
|---|---|---|
| Availability | Provided | Provided |
| Financial figures | Nearly identical to consolidated | Includes AGI Cold Chain Pvt Ltd |
| Auditor’s opinion | Clean limited review | Clean limited review |
| Segment reporting | Single segment | Single segment |
| Profit & Loss figures | Almost same as consolidated | Almost same as standalone |
Conclusion: No material difference between standalone and consolidated results.
Summary for Investment Analysis Team
| Aspect | Key Points |
|---|---|
| Auditor’s Note | Clean limited review, no qualifications or concerns. |
| Financial Performance | Strong revenue growth QoQ and YoY; Q1 FY26 revenue Rs. 9,161.47 lakhs (+26% YoY); PAT Rs. 2,001.47 lakhs (+39% YoY). EBITDA margin ~26%, PAT margin ~21%. EPS improved to Rs. 8.19 from Rs. 5.90 YoY. |
| Accounting / Notes | Prepared as per Ind AS; no changes in accounting policies; no material adjustments. |
| Segment Info | Single segment: Construction and Real Estate Development. |
| Capex / Corporate Activity | No disclosures on capex, projects, impairments, or corporate actions. |
| Standalone vs Consolidated | Results nearly identical; consolidated includes one subsidiary (AGI Cold Chain Pvt Ltd). |
Actionable Insights:
- The company shows healthy growth in revenue and profitability in Q1 FY26 compared to both the previous quarter and the same quarter last year.
- Margins are strong and improving, indicating operational efficiency.
- No red flags or auditor concerns.
- Lack of segment or project-level detail limits deeper operational insight.
- No corporate actions or exceptional items suggest stable business operations.
- Monitor future disclosures for capex plans or strategic initiatives to assess growth sustainability.
End of Analysis