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Ircon International Limited IRCON NIFTY_SMALLNSEINFRAPSU

Industrials · Engineering & Construction · India
https://www.ircon.org

Ircon International Limited, together with its subsidiaries, engages in the provision of construction services. It undertakes construction of new railway lines; rehabilitation/conversion of existing lines, station buildings and facilities, and bridges; construction of railway bridges, tunnels, and signaling and telecommunication networks; railway electrification works; wet leasing of locomotives; and setting up of production units for manufacture rolling stock, maintenance depots/workshops, concrete sleepers, and track components on turn-key basis. The company is also involved in the construction of roads and highways; bridges and flyovers; and commercial, institutional, industrial, and residential and multifunctional complexes, as well as airport hangars and runways, airport terminal buildings, station buildings and facilities, hospitals, business centers, and workshops/warehouses; and provision of HVAC, electrification, plumbing, firefighting, and hanger maintenance services. In addition, it engages in the railway, industrial, workshop, and power supply electrification works; renewable solar energy works; and distribution network works, as well as offers turnkey project management services, including design, supply, erection, testing, and commissioning services. Further, it provides turnkey solutions for signaling and communication projects. The company operates in India, Iraq, Iran, Saudi Arabia, the United Kingdom, Jordan, Turkey, Indonesia, Malaysia, Algeria, Bangladesh, Nepal, Afghanistan, Nigeria, Liberia, Syria, Tanzania, Zambia, Brazil, Mozambique, Ethiopia, Sri Lanka, South Africa, Bhutan, and Myanmar. The company was formerly known as Indian Railway Construction Company Limited. Ircon International Limited was incorporated in 1976 and is headquartered in New Delhi, India.

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₹136.90
-28.07% 1Y

Market & Price

Market Cap
₹12,875.66 Cr
Current Price
₹136.90
High / Low (52W)
₹217.47 / ₹115.24
Beta
0.76

Valuation

Stock P/E
21.66
Industry PE
27.78
Forward P/E
16.23
PEG Ratio
-
Book Value
₹70.68
Price to Book
1.94
P/S
1.42
EV/EBITDA
17.55
Dividend Yield
1.61%

Profitability & Returns

ROCE
7.89%
ROE
9.08%
ROA
1.85%
Profit Margin
6.57%
Op Margin
6.99%
EPS (Latest Qtr)
₹2.04
EPS (TTM)
₹6.32

Balance Sheet & Liquidity

Debt/Equity
0.86
Quick Ratio
0.93
Current Ratio
1.65
Debt
₹5,725.63 Cr
Total Assets
₹21,306.68 Cr
Current Assets
₹11,803.66 Cr
Working Capital
₹4,653.05 Cr

Ownership

Promoter Holding
65.17%
Chg in Prom Hold
-
FII / Inst Holding
3.32%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹13,439.32 Cr
Total Revenue (TTM)
₹9,071.05 Cr
EBITDA
₹765.75 Cr
Free Cash Flow
₹-748.04 Cr
Operating Cash Flow
₹-617.58 Cr
Shares Outstanding
₹94.05 Cr
Gross Margin
12.17%
Payout Ratio
34.76%

Growth (CAGR)

Revenue 5Y
-4.29%
Profit 5Y
-8.02%
Revenue (YoY)
-6.50%
Earnings (YoY)
-8.80%

PROS

No notable strengths flagged.

CONS

  • Revenue declined at -4.3% CAGR over 5 years.
  • Earnings shrank at -8.0% CAGR over 5 years.
  • Trading 37.0% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 IRCON Ircon International Limited NIFTY_SMALLNSEINFRAPSU 136.90 21.66 ₹12,875.66 Cr 1.61% 7.89% 9.08% -4.29% -8.02%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
8 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
9 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --3,412.07 Cr1,786.28 Cr1,976.75 Cr2,119.04 Cr3,188.98 Cr
Cost of Revenue --3,081.56 Cr1,504.72 Cr1,753.65 Cr1,876.46 Cr2,832.64 Cr
Gross Profit --330.51 Cr281.56 Cr223.10 Cr242.58 Cr356.34 Cr
Operating Expenses --101.15 Cr118.82 Cr121.93 Cr126.37 Cr133.43 Cr
Operating Income --229.36 Cr162.74 Cr101.17 Cr116.21 Cr222.91 Cr
EBITDA --357.48 Cr323.89 Cr297.00 Cr269.29 Cr389.15 Cr
Interest Expense --62.30 Cr75.21 Cr84.54 Cr93.02 Cr97.34 Cr
Pretax Income --263.05 Cr211.53 Cr172.45 Cr134.69 Cr247.83 Cr
Tax Provision --51.27 Cr47.43 Cr35.94 Cr34.84 Cr56.37 Cr
Net Income --210.85 Cr164.56 Cr138.65 Cr100.66 Cr191.60 Cr
Diluted EPS 2.19-2.241.751.471.072.04

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -10,347.28 Cr12,301.10 Cr10,759.58 Cr9,071.05 Cr
Cost of Revenue -9,532.72 Cr11,197.34 Cr9,560.74 Cr7,967.47 Cr
Gross Profit -814.56 Cr1,103.76 Cr1,198.84 Cr1,103.58 Cr
Operating Expenses -217.97 Cr68.62 Cr471.91 Cr500.55 Cr
Operating Income -596.59 Cr1,035.14 Cr726.93 Cr603.03 Cr
EBITDA -1,297.70 Cr1,611.40 Cr1,276.03 Cr1,279.33 Cr
Interest Expense -299.66 Cr249.84 Cr219.13 Cr350.11 Cr
Pretax Income -891.00 Cr1,261.13 Cr939.02 Cr766.50 Cr
Tax Provision -125.77 Cr331.62 Cr211.19 Cr174.58 Cr
Net Income -765.23 Cr929.57 Cr727.41 Cr595.47 Cr
Diluted EPS 6.308.149.887.73-

Compounded Sales Growth

5 Years:-4.29%
1 Year:-6.50%

Compounded Profit Growth

5 Years:-8.02%
1 Year:-8.80%

Stock Price Performance

1 Year:-28.07%
6 Months:-14.21%
3 Months:-7.52%
1 Month:-10.05%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -15,537.38 Cr17,452.15 Cr19,521.28 Cr21,306.68 Cr
Current Assets -11,145.06 Cr11,146.12 Cr11,471.50 Cr11,803.66 Cr
Cash & Equivalents -2,338.11 Cr2,179.78 Cr2,279.84 Cr4,809.35 Cr
Inventory -188.98 Cr47.71 Cr90.83 Cr12.30 Cr
Receivables -863.83 Cr803.33 Cr1,328.25 Cr1,398.34 Cr
Total Liabilities -10,312.76 Cr11,546.05 Cr13,159.33 Cr14,635.99 Cr
Current Liabilities -7,265.39 Cr7,017.81 Cr7,226.29 Cr7,150.61 Cr
Long Term Debt -1,440.33 Cr2,456.68 Cr4,134.64 Cr5,423.21 Cr
Total Debt -1,525.12 Cr2,582.33 Cr4,306.77 Cr5,725.63 Cr
Total Equity -5,211.49 Cr5,870.92 Cr6,326.35 Cr6,638.64 Cr
Shares Outstanding -94.05 Cr94.05 Cr94.05 Cr94.05 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow --277.92 Cr-78.55 Cr-1,109.53 Cr-617.58 Cr
Investing Cash Flow -1,577.95 Cr-705.49 Cr31.92 Cr-365.95 Cr
Financing Cash Flow --223.43 Cr640.10 Cr1,156.02 Cr801.22 Cr
Capital Expenditure --99.76 Cr-848.30 Cr-1,052.07 Cr-533.17 Cr
Free Cash Flow --377.68 Cr-926.85 Cr-2,161.60 Cr-1,150.75 Cr
Net Change in Cash -1,076.60 Cr-143.94 Cr78.41 Cr-182.31 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -7.9%9.0%11.1%12.2%
Operating Margin % -5.8%8.4%6.8%6.6%
Net Margin % -7.4%7.6%6.8%6.6%
ROE % -14.7%15.8%11.5%9.0%
ROCE % -7.2%9.9%5.9%4.3%

Shareholding Pattern

Insiders
65.17%
Institutions
3.32%
Public Float
9.54%

Analyst View

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