Afcons Infra shares soar over 9% on Rs 5,301 cr order to build world’s second-largest breakwater

Shares of Afcons Infrastructure rallied as much as 9.4% to their day’s high of Rs 346.30 on the BSE on Wednesday after the company announced that it had received a letter of award from Vadhvan Port Project Ltd (VPPL) for the construction of a 10.14-km breakwater at the upcoming Vadhvan Port in Maharashtra.

According to the company, the contract is valued at Rs 5,301 crore. Upon completion, the structure is expected to become the second-longest breakwater in the world. The project involves the construction of a 10.14-km-long breakwater as part of the Vadhvan Port development. Afcons said it received the Letter of Award on June 10.

In a regulatory communication, the company highlighted its experience in executing marine infrastructure projects in India and overseas. Afcons has undertaken several marine projects internationally, including the Bulk Jetty at Port of Sohar in Oman, the New Owendo International Port in Gabon, and the Sulphur Jetty project in Kuwait.

The company stated that the Bulk Jetty at Port of Sohar is located at one of the world’s deepest ports. It also noted that the New Owendo International Port in Gabon was completed in 18 months and was recognised as the fastest completed port project in West Africa. The Sulphur Jetty project in Kuwait involved the execution of an EPC berth facility, including trestles, equipment and structural works.

Afcons further said that it has been ranked by Engineering News-Record (ENR), USA, as the world’s eighth-largest marine and port facilities contractor.

The Vadhvan Port project is envisaged as India’s largest public port and one of the world’s largest container ports. According to the company, the port is expected to have a handling capacity of 23.2 million TEUs.

Afcons Infra Q4

Afcons reported a net loss of Rs 89 crore in the fourth quarter of FY26 against a profit after tax of Rs 111 crore in the same period last year. The company said net profit was impacted by macroeconomic uncertainties and certain one-time factors.

The company’s revenue from operations also dipped by 18% to Rs 2,777 crore from Rs 3,387 crore posted in the corresponding quarter of the previous fiscal year, Afcons said in its investor presentation.EBITDA came in at Rs 170 crore, marking a 59% drop from Rs 415 crore posted in the year-ago period. Margins also witnessed a sharp fall, down 6.1% from 12.2% in Q4FY25. For the full year, the company’s order book stood at Rs 32,496 crore, ‘ensuring visibility on its future revenue and profitability’, it said.

Despite Wednesday’s surge, Afcons’ share price is down 12% in 2026 and about 23% in the last 1 year.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)