Synopsis:
The infra player reported steady momentum after securing a ₹173 crore order from a major industrial group. Despite softer revenue in H1FY26, profit stability, strong execution across cement and power projects, a growing order book, and marquee client additions support its improving growth outlook.
The shares of this construction company gained up to 5 percent in today’s trading session after the company bagged a significant work order from Aditya Birla Group worth Rs 173 crore.
With a market capitalization of Rs 472.50 crore, the shares of Goel Construction Company Ltd were trading at Rs 327.00 per share, increasing around 1.71 percent as compared to the previous closing price of Rs 321.50 apiece.
Significant Order
The shares of Goel Construction Company Ltd have seen positive movement after securing a service order worth Rs 173.25 crore from the Aditya Birla Group for the execution of civil works of PYRO, WHRS, and post-clinkerisation, along with safety works at their Pali Cement Works unit in Rajasthan. The order is expected to be completed in 13 months.
Financial and Operational Highlights
The company’s financial performance in H1FY26 shows pressure on growth, with revenue declining 10% to Rs 245 crore from Rs 272 crore a year earlier. Despite the slowdown, net profit held steady at Rs 17 crore, indicating stable margins and cost discipline even as topline momentum weakened.
The company’s segment-wise breakup shows a strong focus on cement plant construction, which dominates across periods. In FY2025, cement plants contributed 74% of revenue, followed by power plants at 20% and dairy plants at 6%. In H1FY2026, cement’s share rose to 81%, with power at 17% and dairy at 2%. The order book mirrors this mix, with cement projects forming 69%.
The company has a diversified geographical presence with projects spread across key industrial states. Its order book is concentrated in Madhya Pradesh (27.1%) and Chhattisgarh (22.3%), followed by Rajasthan (18.3%) and Andhra Pradesh (13.6%). Gujarat and Karnataka contribute smaller shares, while Punjab, Uttar Pradesh, and Gujarat hold minimal portions of the overall pipeline.
Goel Construction Company strengthened its business positioning by adding Ambuja Cement as a marquee client and securing a Rs 260-crore order from the Adani Group, its largest to date. Looking ahead, it expects to execute Rs 1,200–1,500 crore of work in the next 18 months, driven by new projects, customer diversification, and a disciplined, lean balance-sheet approach.
The company’s ongoing projects highlight its strong execution pipeline across core segments. Key works include a Rs 172-crore power plant project in Madhya Pradesh and major cement plant contracts worth Rs 109 crore and Rs 153 crore in Rajasthan. Another significant Rs 116-crore cement project is underway in Chhattisgarh, reinforcing its presence in high-growth industrial regions.
Goel Construction Company Ltd is a civil construction firm specialising in building heavy industrial plants across India. Established in 1997, it has developed strong expertise in cement, power, and dairy plant projects, supported by an experienced workforce and a solid track record of executing large, complex infrastructure assignments.
Written by Abhishek Singh
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