IVRCL
In the Dec 2025 quarter, revenue was ₹4 Cr, against under ₹1 Cr a year earlier and net profit was −₹938 Cr, against −₹798 Cr a year earlier (compared with Dec 2024). Promoters held 5.37% of IVRCL in Mar 2025, unchanged from Dec 2024.
Peer Comparison
Industrials › Construction › Civil Construction
| ₹3,804.80 | 29.30 | 5,23,501 Cr | 4.63 | 1.04% | 14.91% | 16.35% | 3,08,675 Cr | 20,895 Cr | |
| ₹184.35 | 42.77 | 38,437 Cr | 3.91 | 0.94% | 8.87% | 10.98% | 21,603 Cr | 897 Cr | |
| ₹1,337.50 | 20.09 | 22,841 Cr | 2.94 | 0.84% | 13.33% | 20.51% | 27,612 Cr | 1,129 Cr | |
| ₹1,234.40 | 35.24 | 21,205 Cr | 5.99 | 0.25% | 24.91% | 40.04% | 10,372 Cr | 602 Cr | |
| ₹16.14 | 20.43 | 19,494 Cr | 0.90 | 0.32% | 4.06% | 5.97% | 7,862 Cr | 954 Cr | |
| ₹69.19 | 25.25 | 18,681 Cr | 6.19 | 0.21% | 23.09% | 29.73% | 13,132 Cr | 766 Cr | |
| ₹264.80 | 18.97 | 14,883 Cr | 4.73 | 2.00% | 21.99% | 28.08% | 4,197 Cr | 784 Cr | |
| IVRCL (this company) | ₹0.39 | — | — | — | — | — | — | 31 Cr | -3,504 Cr |
| Median 8 companies | ₹224.58 | 25.25 | 21,205 Cr | 4.63 | 0.84% | 14.91% | 20.51% | 11,752 Cr | 841 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100. How it works →
No Tapetide Score has been computed for this stock yet.
Key Insights
Weaknesses
6- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -46.5% over past five years.
- Promoter holding is low: 5.37%
- Promoters have pledged 100% of their holding.
- Company has high debtors of 10,188 days.
- Company's cost of borrowing seems high
Technical Indicators
Oscillators
Bullish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
Quarterly Results
| Particulars | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 34 | 23 | 26 | 14 | 16 | 5 | 6 | 7 | 0 | 8 | 7 | 2 | 4 |
| Expenses | 45 | 64 | 36 | 20 | 43 | 43 | 21 | 14 | 10 | 17 | 14 | 10 | 11 |
| Operating Profit | -11 | -42 | -10 | -6 | -28 | -38 | -15 | -7 | -9 | -9 | -6 | -8 | -7 |
| OPM % | -34% | -182% | -38% | -46% | -176% | -739% | -236% | -110% | -1971% | -111% | -88% | -539% | -150% |
| Other Income | 8 | 3 | 3 | 5 | 2 | 9 | 9 | 22 | 2 | 2 | 2 | 2 | 2 |
| Interest | 571 | 580 | 612 | 646 | 672 | 694 | 716 | 756 | 789 | 803 | 846 | 895 | 932 |
| Depreciation | 3 | 3 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| PBT | -577 | -622 | -621 | -649 | -699 | -725 | -723 | -742 | -798 | -811 | -852 | -902 | -938 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -577 | -623 | -622 | -649 | -700 | -726 | -724 | -743 | -798 | -811 | -852 | -903 | -938 |
| EPS (₹) | -7.37 | -7.96 | -7.94 | -8.29 | -8.94 | -9.27 | -9.24 | -9.49 | -10.2 | -10.36 | -10.88 | -11.53 | -11.98 |
Profit & Loss
| Particulars | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,305 | 3,117 | 2,362 | 2,015 | 1,413 | 729 | 489 | 312 | 287 | 74 | 61 | 21 | 21 |
| Expenses | 4,141 | 3,144 | 2,759 | 2,386 | 1,941 | 855 | 1,019 | 1,476 | 327 | 147 | 143 | 62 | 52 |
| Operating Profit | 163 | -27 | -398 | -370 | -528 | -126 | -529 | -1,164 | -41 | -73 | -82 | -40 | -30 |
| OPM % | 3.8% | -0.9% | -17% | -18% | -37% | -17% | -108% | -373% | -14% | -98% | -136% | -189% | -142% |
| Other Income | -188 | 98 | 47 | 37 | -389 | -150 | -38 | 16 | 12 | 14 | 20 | 35 | 8 |
| Interest | 585 | 653 | 678 | 685 | 1,014 | 1,219 | 1,397 | 1,618 | 1,904 | 2,230 | 2,625 | 3,064 | 3,476 |
| Depreciation | 88 | 90 | 80 | 72 | 65 | 48 | 33 | 24 | 18 | 13 | 8 | 5 | 5 |
| PBT | -697 | -672 | -1,108 | -1,090 | -1,995 | -1,544 | -1,997 | -2,791 | -1,951 | -2,302 | -2,695 | -3,075 | -3,503 |
| Tax % | 3% | 0% | -4% | -88% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Net Profit | -717 | -672 | -1,068 | -130 | -1,991 | -1,545 | -1,999 | -2,792 | -1,953 | -2,304 | -2,696 | -3,076 | -3,504 |
| EPS (₹) | -23.36 | -14.64 | -14.66 | -1.65 | -25.43 | -19.74 | -25.53 | -35.66 | -24.94 | -29.42 | -34.44 | -39.29 | -44.75 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 61 | 92 | 146 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 |
| Reserves | 1,389 | 1,044 | 290 | 230 | -1,761 | -3,306 | -5,302 | -8,107 | -10,060 | -12,363 | -15,058 | -18,134 | -19,888 |
| Borrowings | 3,990 | 4,760 | 4,961 | 5,347 | 6,218 | 7,058 | 7,756 | 8,491 | 9,460 | 10,443 | 11,678 | 13,152 | 14,002 |
| Other Liabilities | 2,919 | 2,975 | 3,041 | 3,221 | 3,782 | 4,328 | 5,193 | 5,983 | 7,021 | 8,288 | 9,677 | 11,254 | 12,143 |
| Total Liabilities | 8,359 | 8,871 | 8,437 | 8,955 | 8,396 | 8,237 | 7,804 | 6,522 | 6,577 | 6,524 | 6,453 | 6,429 | 6,413 |
| Fixed Assets | 578 | 477 | 362 | 315 | 235 | 187 | 153 | 134 | 116 | 103 | 95 | 90 | 88 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1,741 | 1,821 | 2,103 | 1,867 | 1,870 | 1,870 | 1,872 | 1,848 | 1,834 | 1,834 | 1,834 | 1,834 | 1,830 |
| Other Assets | 6,040 | 6,573 | 5,972 | 6,773 | 6,291 | 6,180 | 5,778 | 4,541 | 4,627 | 4,587 | 4,524 | 4,505 | 4,495 |
| Total Assets | 8,359 | 8,871 | 8,437 | 8,955 | 8,396 | 8,237 | 7,804 | 6,522 | 6,577 | 6,524 | 6,453 | 6,429 | 6,413 |
Cash Flow
| Particulars | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -509 | -410 | -130 | -134 | -192 | -354 | -65 | -28 | 20 | 90 | 3 | 18 |
| Investing | -118 | -71 | -44 | -57 | 54 | 3 | -25 | 24 | -20 | 2 | 2 | -7 |
| Financing | 650 | 479 | 152 | 187 | 216 | 281 | 95 | 0 | 0 | -147 | 0 | 0 |
| Net Cash Flow | 23 | -2 | -22 | -4 | 78 | -70 | 6 | -4 | 0 | -55 | 5 | 10 |
| Free Cash Flow | -516 | -417 | -128 | -128 | -173 | -354 | -65 | -28 | 20 | 89 | 3 | 18 |
| CFO/EBITDA | -325 | 1,448 | 55 | 63 | 31 | 266 | 10 | 9 | -64 | -125 | -7 | -45 |
Ratios
| Particulars | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 145 | 192 | 267 | 252 | 308 | 501 | 593 | 913 | 892 | 3,109 | 3,809 | 10,188 |
| Inventory Days | — | — | 97 | 133 | 109 | 394 | — | — | — | — | — | — |
| Days Payable | — | — | 1,069 | 1,924 | 2,123 | 9,828 | — | — | — | — | — | — |
| Cash Conversion Cycle | 145 | 192 | -705 | -1,538 | -1,706 | -8,932 | 593 | 913 | 892 | 3,109 | 3,809 | 10,188 |
| Working Capital Days | -186 | -66 | -305 | -610 | -1,649 | -4,027 | -7,331 | -14,652 | -18,609 | -83,489 | -1,17,993 | -3,85,367 |
| ROCE % | 2% | -1% | -8% | -7% | -10% | -4% | -17% | -74% | -98% | — | — | — |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view IVRCL insights
61 extracted metrics + investor summaries across FY07–FY26.
Documents
Frequently Asked Questions about IVRCL
What does IVRCL Ltd do?
Where is IVRCL Ltd (IVRCLINFRA) listed?
Which sector does IVRCL Ltd belong to?
Company Information
IVRCL is engaged in the business of development and execution of Engineering, Procurement, Construction and Commissioning (EPCC) and Lump Sum Turn Key (LSTK) facilities in various infrastructure projects such as water supply, Roads and Bridges, Townships and Industrial Structures, Power Transmission etc.
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