Ircon International Appoints Alin Choudhury As New CFO With Effect From Jan. 1

Ircon International Ltd. said that its board of directors on Wednesday approved the appointment of Alin Roy Choudhury as its chief financial officer and key managerial personnel from Jan. 1, 2025.

Choudhury, who is currently the chief general manager of the finance division at the railway construction firm, will succeed B Mugunthan as the company's CFO. The development comes as Mugunthan will be repatriated to the Ministry of Railways on Dec. 31, 2024, according to the company’s exchange filing.

The company added that the terms and conditions of the appointment of Choudhury—who is a qualified cost and management accountant—will remain the same.

Over a 30-year career, Choudhury’s experience includes working on diverse domains such as business development, treasury, and corporate finance.

Internationally, he has handled projects in Sri Lanka and Ethiopia. And, within the organisation, he has spearheaded the implementation of the Indian Accounting Standards.

Choudhury has also served as CFO of the company's wholly owned subsidiaries—Ircon Gurgaon Rewari Highway Ltd. and Ircon Haridwar Bypass Ltd.

In the second quarter of fiscal 2025, Ircon's net profit had declined by 17.9% to Rs 206 crore, as compared to Rs 251 crore for the same period last year.

The public sector undertaking had recorded a revenue of Rs 2,448 crore in Q2, indicating a 19.3% fall for the three months ended Sept. 30, 2024, as against Rs 3,033 crore for the same quarter of the previous financial year.

The company's earnings before interest, tax, depreciation and amortisation was down 23.4% at Rs 201 crore for the July-September quarter, as compared to Rs 262 crore. Its margins contracted to 8.2% from 8.6% for the year-ago period.

Shares of Ircon International Ltd. closed 2.08% lower at Rs 223.80 apiece on the BSE, compared to a 0.62% decline in the benchmark Sensex.