Ircon International Ltd logo

Ircon International Ltd

IRCON NSE

Key Fundamentals

MicrocapCivil ConstructionConstruction
Market Cap
₹11,604 Cr
Volatility
Moderate
P/E Ratio
22.22
EBITDA
₹766 Cr
Return on Equity
11.44%
Debt to Equity
0.86
Book Value
₹70.59
EPS
₹10.27
52W High
₹189.5
52W Low
₹114.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 31.9%

Weaknesses

5
  • The company has delivered a poor sales growth of 11.2% over past five years.
  • Company has a low return on equity of 12.1% over last 3 years.
  • Earnings include an other income of Rs.476 Cr.
  • Debtor days have increased from 41.6 to 56.3 days.
  • Promoter holding has decreased over last 3 years: -8.01%

Growth Rate

Revenue Growth
-18.51% ↗
Net Income Growth
-23.91% ↗
Cash Flow Change
-1312.51% ↘
ROE
-27.32% ↗
ROCE
-30.27% ↗
EBITDA Margin (Avg.)
-26.90% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 13d ago
AI opinion · based on fundamentals
Risk high

Ircon International Ltd is a government-backed construction company with a market cap of ₹12,462 Cr trading at a PE of 21x. The company faces near-term headwinds with TTM sales declining 16% and profit declining 14%, though it has a longer-term track record of 11% sales CAGR over 5 years and maintains a consistent dividend payout of 31.9%.

Bull Case 7
  • Long-term revenue compounding at 14% CAGR over 10 years demonstrates sustained business growth in infrastructure
  • 5-year stock CAGR of 25% reflects significant long-term wealth creation for shareholders
  • Consistent dividend payout ratio of 31.9% provides regular income to investors with a current yield of 0.91%
  • 5-year compounded profit growth of 9% shows the company has been able to grow earnings over a medium-term horizon
  • Price-to-book ratio of 1.87x is relatively modest for an infrastructure PSU with government-backed order flow
  • 5-year ROE average of 13% indicates reasonable capital efficiency for a construction sector PSU
  • PE of 21x is not excessively stretched given the company's government parentage and infrastructure spending tailwinds
Bear Case 8
  • TTM sales have declined 16%, signaling a sharp near-term revenue contraction
  • TTM profit has declined 14%, indicating deteriorating bottom-line performance in the current period
  • 3-year compounded profit growth is negative at -8%, showing a sustained earnings decline over a meaningful period
  • Stock has fallen 26% over the past 1 year, reflecting market's loss of confidence in near-term prospects
  • Debtor days have increased from 41.6 to 56.3 days, indicating working capital stress and slower collections
  • Promoter holding has decreased by 8.01% over the last 3 years, reducing government stake alignment
  • Other income of ₹514 Cr forms a significant part of earnings, raising questions about core operating profit quality
  • Last year ROE dropped to 9% from a 3-year average of 12%, showing declining return on shareholder capital

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 8d ago
Neutral 1
  • New Executive Directors appointed Aug 7

    Ircon International appointed Vimal Kishor Nagar and P.V. Sreekanth as Executive Directors for Electrical and S&T functions effective August 7, 2026, adding experienced railway sector professionals to senior management.

TL;DR: Limited news flow for Ircon International with only a routine senior management appointment announced. No material business developments, order wins, or risk factors surfaced in the period. The appointment of two railway sector experts signals continuity in leadership depth, but the stock lacks near-term catalysts based on available news.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,764
2,987
2,930
3,787
2,287
2,448
2,613
3,412
1,786
1,977
2,119
3,189
1,956
Expenses
2,513
2,771
2,671
3,470
2,037
2,247
2,481
3,158
1,586
1,836
1,961
2,922
1,764
Operating Profit
251
216
259
317
251
201
132
254
200
141
158
267
192
OPM %
9%
7%
9%
8%
11%
8%
5%
7%
11%
7%
7%
8%
10%
Other Income
64
177
119
107
107
142
86
103
124
156
112
122
87
Interest
33
37
37
41
48
53
56
62
75
85
93
97
107
Depreciation
19
27
27
27
27
28
31
32
37
40
42
44
45
PBT
263
328
314
356
282
262
132
263
212
172
135
248
127
Tax %
29%
24%
22%
31%
20%
22%
35%
19%
22%
21%
26%
23%
27%
Net Profit
187
251
245
247
224
206
86
212
164
137
100
191
92
EPS in Rs
1.99
2.67
2.6
2.62
2.38
2.19
0.92
2.24
1.75
1.47
1.07
2.04
0.99
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,038
2,493
3,067
4,024
4,798
5,391
5,342
7,380
10,368
12,514
10,760
9,071
9,241
Expenses
2,351
2,228
2,740
3,576
4,320
4,787
4,845
6,795
9,664
11,406
9,912
8,305
8,483
Operating Profit
687
264
328
448
479
604
497
585
704
1,108
847
766
758
OPM %
23%
11%
11%
11%
10%
11%
9%
8%
7%
9%
8%
8%
8%
Other Income
264
421
313
189
212
178
196
261
413
403
431
514
476
Interest
33
43
59
65
15
28
23
62
119
149
221
350
382
Depreciation
57
31
27
16
52
83
92
95
107
100
118
163
170
PBT
861
612
556
555
624
672
578
689
891
1,261
939
766
682
Tax %
32%
36%
31%
26%
28%
28%
32%
14%
14%
26%
22%
23%
—
Net Profit
583
393
384
409
450
485
391
592
765
930
728
592
520
EPS in Rs
29.4
19.85
3.88
4.35
4.79
5.16
4.16
6.3
8.14
9.88
7.73
6.33
5.57
Div. Payout %
31%
43%
96%
47%
45%
46%
36%
40%
37%
31%
34%
30%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
20
99
94
94
94
94
188
188
188
188
188
Reserves
3,285
3,619
3,718
3,667
3,870
4,077
4,309
4,478
5,023
5,683
6,138
6,451
Borrowings
239
0
0
3,200
3,077
0
331
1,399
1,505
2,570
4,299
5,726
Other Liabilities
3,893
4,500
5,415
5,810
6,278
6,009
6,520
8,382
8,821
9,011
8,896
8,942
Total Liabilities
7,437
8,139
9,231
12,771
13,318
10,181
11,254
14,446
15,537
17,452
19,521
21,307
Fixed Assets
736
506
524
568
1,890
1,982
1,922
1,845
1,825
1,736
2,453
3,524
CWIP
30
75
549
964
55
30
13
36
19
549
976
595
Investments
496
487
781
784
809
803
850
971
1,049
1,553
1,296
1,432
Other Assets
6,174
7,070
7,378
10,455
10,565
7,366
8,468
11,594
12,644
13,614
14,796
15,757
Total Assets
7,437
8,139
9,231
12,771
13,318
10,181
11,254
14,446
15,537
17,452
19,521
21,307
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
502
1,441
919
-2,617
-1,185
-136
518
1,414
-278
-79
-1,110
-618
Investing
-521
47
-1,834
-20
616
447
-785
-1,241
1,582
-720
54
-366
Financing
-222
-219
-222
2,737
-93
-275
169
671
-223
640
1,156
801
Net Cash Flow
-242
1,269
-1,137
100
-662
36
-99
844
1,080
-158
100
-182
Free Cash Flow
472
1,365
402
-3,037
-1,516
-185
534
1,374
-376
-887
-2,161
-1,148
CFO/OP
95
586
298
-571
-227
-11
113
247
-29
36
-95
-41
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
72
75
56
61
51
37
43
34
30
23
45
56
Inventory Days
—
150
157
152
—
320
76
—
—
—
50
1
Days Payable
—
428
406
550
—
588
478
—
—
—
687
55
Cash Conversion Cycle
72
-203
-193
-337
51
-231
-359
34
30
23
-592
2
Working Capital Days
-147
-215
-175
-162
-101
-85
-119
-128
-47
-41
-32
-6
ROCE %
27%
18%
14%
11%
9%
12%
13%
14%
16%
18%
12%
10%

Shareholding Pattern

As of Jun 2026
Promoters 65.17%
Public 26.03%
FIIs 4.60%
Others 2.12%
DIIs 1.79%
Government 0.28%
Total 99.99%
  Mar 2021May 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
73.18%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
65.17%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.11%
4.58%
4.17%
3.94%
4.08%
4.11%
4.57%
4.61%
4.54%
4.78%
4.60%
DIIs
0.33%
0.33%
0.20%
0.21%
0.27%
1.01%
1.08%
1.08%
1.82%
1.87%
0.78%
0.36%
0.94%
1.32%
2.90%
1.64%
1.44%
1.57%
1.60%
1.64%
1.72%
1.79%
1.79%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.26%
0.00%
0.26%
0.26%
0.26%
0.26%
0.26%
0.26%
0.26%
0.28%
0.28%
0.28%
0.28%
0.28%
0.28%
0.28%
Public
16.18%
16.53%
17.46%
18.50%
17.25%
16.68%
16.82%
16.99%
15.90%
15.76%
16.87%
19.17%
24.52%
25.35%
24.35%
26.42%
26.44%
26.58%
26.05%
26.12%
26.08%
25.82%
26.03%
Others
10.30%
9.95%
9.16%
8.11%
9.29%
9.13%
8.92%
8.49%
9.10%
8.94%
8.91%
7.02%
5.00%
3.32%
3.15%
2.57%
2.58%
2.29%
2.33%
2.17%
2.21%
2.15%
2.12%
No. of Shareholders
1,85,124
2,10,950
2,39,623
2,72,809
2,83,446
3,10,567
3,07,027
3,04,436
2,89,486
2,97,623
3,26,001
4,70,275
5,98,477
9,31,492
10,22,210
12,07,130
12,15,390
12,46,920
12,01,240
11,68,060
11,34,130
11,06,690
10,80,370

Documents

Frequently Asked Questions about Ircon International Ltd

What does Ircon International Ltd do?
Ircon International Limited (IRCON) commenced its business in 1976 as a railway construction company, it diversified progressively since 1985 as an integrated engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as rail...
Where is Ircon International Ltd (IRCON) listed?
Ircon International Ltd is listed on the Indian stock exchanges. It is listed on NSE: IRCON and BSE: 541956. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Ircon International Ltd belong to?
Ircon International Ltd operates in the Construction sector within the Civil Construction industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Ircon International Ltd?
Ircon International Ltd has a market capitalisation of approximately ₹11604.08 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Ircon International Ltd?
The Price-to-Earnings (PE) ratio of Ircon International Ltd is 22.22. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Ircon International Ltd?
Over the past 52 weeks, Ircon International Ltd has traded between a low of ₹114.5 and a high of ₹189.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Ircon International Ltd pay dividends?
Yes, Ircon International Ltd has a dividend yield of 0.96%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Ircon International Ltd?
Ircon International Ltd has a Return on Equity (ROE) of 11.44%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Ircon International Ltd on Tapetide?
On Tapetide, you can view Ircon International Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Ircon International Limited (IRCON) commenced its business in 1976 as a railway construction company, it diversified progressively since 1985 as an integrated engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc. [1] [2]

Website ircon.org
CEO Mr. Hari Mohan Gupta
Employees 834
Listed 2018-09-28
Face Value ₹ 2
Issued Size 94,05,15,740

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