IRBConstruction

IRB Infrastructure Developers Limited

Civil Construction · ISIN INE821I01022 · BSE 532947 · NSE EQ · FV ₹1
Last price
₹19
-1.05%today
What this company does

IRB Infrastructure Developers Limited operates in Civil Construction, part of the Construction sector. It booked ₹2,137 cr of revenue in its latest quarter (Q1 FY27) and kept 14.3% of sales as profit. It is the 4th largest of 9 Civil Construction companies we track, by market value.

Their stated mission

is to create a and value chain partners.

In the report:
53out of 100
Equitytale Health Score
Mixed

Healthier than 53% of companies in Construction, on all six measures of filed financials. Each measure is ranked against the 7–23 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns32

How much profit it earns on the money it employs

Balance sheet21

How much it owes, and whether earnings cover the interest

Cash quality86

Whether reported profit actually arrives as cash

Growth & consistency55

Whether sales and profit have grown, and how steadily

Valuation75

What today's price implies, against our models or its peers

Governance & risk83

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Profit up 51% vs last year
Turns profit into real cash
Watch-outs
! 0.0% of promoter stake pledged
! Low 5.8% return on equity

What if I invest in IRB?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹19 -1.05%
latest close · 2026-09-17
52-wk low ₹1942 sessions so far52-wk high ₹21
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio18.9Average
LowAverageHigh
P/B ratio1.09Moderate
Below bookModerateHigh
EV / EBITDA8.9Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.8%Weak
WeakFairStrong ▸15%
Return on capital6.8%Weak
WeakFairStrong
Net margin14.3%Decent
ThinDecentStrong
EBITDA margin55.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.96Moderate
LowModerateHigh ▸1
Interest cover2.0×Risky
RiskyOkayStrong ▸5×
Current ratio1.24Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹22,767 cr
Book value
₹17
EPS
₹0.25
latest quarter
Net debt
₹19,662 cr
owes more than its cash
Enterprise value
₹42,429 cr
EBITDA
₹4,752 cr
annualised
EBIT
₹3,418 cr
annualised
Operating margin
40.0%
Return on assets
2.3%
Earnings yield
5.31%
P/S
2.66
Sales / share
₹7.1
Tax rate
26.5%
Face value
₹1
Shares
1,207.8 cr
Working capital
₹902 cr
Current assets
₹4,682 cr
Current liabilities
₹3,780 cr
Delivery %
42.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹12₹21, midpoint ₹16

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2,137 cr
Other Income₹35 cr
Total Income₹2,173 cr
Cost of Materials₹229 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹109 cr
Finance Costs₹438 cr
Depreciation & Amortisation₹333 cr
Other Expenses₹646 cr
Total Expenses₹1,756 cr
Profit before Tax₹417 cr
Tax Expense₹110 cr
Net Profit₹306 cr
Net margin on total income14.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹229 cr10.5%
Employee benefit expense₹109 cr5.0%
Finance costs₹438 cr20.2%
Depreciation & amortisation₹333 cr15.3%
Other expenses₹646 cr29.7%
Tax expense₹110 cr5.1%
Profit for the period₹306 cr14.1%
Total income ₹2,173 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,871 cr1,927 cr2,137 cr
Total income1,912 cr1,977 cr2,173 cr
Expenses1,575 cr1,571 cr1,756 cr
Profit before tax295 cr406 cr417 cr
Tax84 cr109 cr110 cr
Net profit (owners' share)211 cr296 cr306 cr
Net margin (owners' share, on revenue)11.3%15.4%14.3%
EPS (₹)0.350.250.25
YoY (latest quarter): total income +0.4% · net profit +51.3%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹54,054 cr
Shareholder equity
₹20,949 cr
parent shareholders
Total debt
₹20,008 cr
Cash
₹346 cr
Cash flow · H1 FY26
Operating
₹1,053 cr
Investing
₹-1,388 cr
Financing
₹-1,135 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limited₹3,836₹5.28 L cr32.0
Rail Vikas Nigam Limited₹202₹42,055 cr66.3
Kalpataru Projects International Limited₹1,399₹23,900 cr19.3
IRB Infrastructure Developers Limitedthis company₹19₹22,767 cr18.9
NBCC (India) Limited₹82₹22,175 cr36.0
Cemindia Projects Limited₹1,255₹21,563 cr38.3
Engineers India Limited₹264₹14,824 cr23.5
Techno Electric & Engineering Company Limited₹985₹11,452 cr30.7
KEC International Limited₹402₹10,700 cr36.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.27%
trailing 12 months
Dividend / share (TTM)
₹0.24
Last dividend
₹0.05
ex 5 Aug 2026
ActionDetailEx-date
Dividend₹0.05 / share5 Aug 2026
Dividend₹0.05 / share26 May 2026
Bonus issue1:130 Mar 2026
Dividend₹0.07 / share18 Feb 2026
Dividend₹0.07 / share18 Nov 2025
Dividend₹0.07 / share29 Aug 2025
Who owns it · 2026-06-30
0.0% pledged
Promoter
30.8%
FII / Foreign
43.9%
DII / Domestic
10.2%
Retail / others
15.2%
Promoter stake down 3.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtIRB Holding Private Limited · Promoter Group1.29 cr · ₹25.6 cr3 Sep 26
BoughtIRB Holding Private Limited · Promoter Group1.05 cr · ₹20.3 cr2 Sep 26
BoughtIRB Holding Private Limited · Promoter Group1.05 cr · ₹20.2 cr1 Sep 26
Bulk / block deals
short · NSE29526 Aug 26
short · NSE1683 Aug 26
short · NSE114 Jul 26
Stake changes
BoughtSudha D Mhaiskar · promoter→ 0.01%22 May 26
BoughtSudha D Mhaiskar · promoter→ 0.01%28 Apr 26
BoughtSudha D Mhaiskar · promoter→ 0.00%30 Mar 26
Promoter pledges
ReleasedCintra INR Investment BV60.39 cr · 10.00% held30 Dec 25
ReleasedBricklayers Investment Pvt Ltd41.07 cr · 16.80% held24 Dec 25
ReleasedKotak Securities Ltd2.00 L · 0.08% held26 Nov 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 23 Mar 2026
See the official result
1
Issue of Bonus Shares to Equity Shareholders of the Company
Backed by 98% of shareholders other than promotersneeded 50%
314.04 cr votes for, 5.44 cr against · 2% of mutual funds and other big investors said no
2
Increase in Authorized Share Capital and consequent amendment to clause V of Memorandum of Association of the Company.
Backed by 97% of shareholders other than promotersneeded 50%
311.17 cr votes for, 8.31 cr against · 3% of mutual funds and other big investors said no
3
Material related party transactions in relation to project implementation agreement with IRB Chandibhadra Tollway Private Limited the TOT-18 Project SPV of IRB Infrastructure Trust.
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
96.51 cr votes for, 71.95 L against · 1% of mutual funds and other big investors said no
4
Re-appointment of Mrs. Deepali V. Mhaiskar (DIN: 00309884) as Whole-time Director of the Company
Backed by 82% of shareholders other than promotersneeded 75%
263.40 cr votes for, 56.08 cr against · 18% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 9 named members
owning 30.8% between them · as of 2026-06-30
IRB HOLDING PRIVATE LIMITED29.94%
VIRENDRA D MHAISKAR0.84%
DEEPALI VIRENDRA MHAISKAR0.02%
SUDHA DATTATRAY MHAISKAR0.01%
ARYAN VIRENDRA MHAISKARno shares
DSM PROJECTS PRIVATE LIMITEDno shares
IDEAL TOLL AND INFRASTRUCTURE PRIVATE LIMITEDno shares
SDM VENTURES PRIVATE LIMITEDno shares
Business done with them
FY2025 · 4 of the group
The company paid ₹73 cr to companies in the promoter group last year — about 1.0% of its ₹7,613 cr revenue.
IRB HOLDING PRIVATE LIMITED
Other payments to them · As per below
also owns 29.94% of the company
₹73 cr
company paid
DSM PROJECTS PRIVATE LIMITED
Other payments to them · As per below
₹1.8 L
company paid
SDM VENTURES PRIVATE LIMITED
Other payments to them · As per below
₹1.8 L
company paid
IDEAL TOLL & INFRASTRUCTURE PRIVATE LIMITED
Other payments to them · As per below
₹0.1 L
company paid

The company also transacted with 40 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.