IRCONConstruction

Ircon International Limited

Civil Construction · ISIN INE962Y01021 · BSE 541956 · NSE EQ · FV ₹2
Last price
₹108
-0.60%today
What this company does

Ircon International Limited operates in Civil Construction, part of the Construction sector. It booked ₹1,956 cr of revenue in its latest quarter (Q1 FY27) and kept 4.7% of sales as profit.

In the report:
40out of 100
Equitytale Health Score
Strained

Healthier than 40% of companies in Construction, on all six measures of filed financials. Each measure is ranked against the 11–23 companies that reported it.

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

Price momentum
oversold
RSI (14)
18

At close. Not part of the score.

Profitability & returns20

How much profit it earns on the money it employs

Balance sheet33

How much it owes, and whether earnings cover the interest

Cash quality14

Whether reported profit actually arrives as cash

Growth & consistency37

Whether sales and profit have grown, and how steadily

Valuation70

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

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 9% vs last year
Promoters hold 65%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 4.7% net margin
! Profit down 44% vs last year
! Low 5.6% return on equity

What if I invest in IRCON?

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 We do not publish price targets or predict returns.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
₹108 -0.60%
latest close · 2026-09-17
1-year return
+151.1%
52-wk low ₹3552-wk high ₹134
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 ratio27.2Average
LowAverageHigh
P/B ratio1.53Moderate
Below bookModerateHigh
EV / EBITDA11.7Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.6%Weak
WeakFairStrong ▸15%
Return on capital7.0%Weak
WeakFairStrong
Net margin4.7%Thin
ThinDecentStrong
EBITDA margin14.9%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.85Moderate
LowModerateHigh ▸1
Interest cover2.3×Okay
RiskyOkayStrong ▸5×
Current ratio1.65Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹10,144 cr
Book value
₹71
EPS
₹0.99
latest quarter
Net debt
₹3,473 cr
owes more than its cash
Enterprise value
₹13,618 cr
EBITDA
₹1,168 cr
annualised
EBIT
₹989 cr
annualised
Operating margin
12.6%
Return on assets
1.7%
Earnings yield
3.67%
P/S
1.30
Sales / share
₹83.2
Tax rate
24.8%
Face value
₹2
Shares
94.1 cr
Working capital
₹4,653 cr
Current assets
₹11,803 cr
Current liabilities
₹7,151 cr
Delivery %
38.1%
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
Priced about rightMedium confidence
Median of 2 models ₹97 vs market price ₹108 — price is 11% above it
Safety cushion-11.4%(target ≥ +20%)
Models span ₹71₹122, midpoint ₹97
Model ₹97
Price ₹108
Cheap sideExpensive side

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₹1,956 cr
Other Income₹87 cr
Total Income₹2,043 cr
Cost of Materials₹62 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹67 cr
Finance Costs₹107 cr
Depreciation & Amortisation₹45 cr
Other Expenses₹1,622 cr
Total Expenses₹1,903 cr
Profit before Tax₹140 cr
Tax Expense₹35 cr
Share of JV / Associates₹-13 cr
Net Profit₹92 cr
Net margin on total income4.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹62 cr3.0%
Employee benefit expense₹67 cr3.3%
Finance costs₹107 cr5.3%
Depreciation & amortisation₹45 cr2.2%
Other expenses₹1,622 cr79.9%
Tax expense₹35 cr1.7%
Profit for the period₹92 cr4.5%
Total income ₹2,043 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue2,119 cr3,189 cr1,956 cr
Total income2,206 cr3,291 cr2,043 cr
Expenses2,096 cr3,063 cr1,903 cr
Profit before tax110 cr228 cr140 cr
Tax35 cr56 cr35 cr
Net profit (owners' share)101 cr192 cr93 cr
Net margin (owners' share, on revenue)4.8%6.0%4.7%
EPS (₹)1.072.040.99
YoY (latest quarter): total income +7.9% · net profit -43.6%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹21,307 cr
Shareholder equity
₹6,639 cr
parent shareholders
Total debt
₹5,664 cr
Cash
₹2,190 cr
Cash flow · H1 FY26
Operating
₹89 cr
Investing
₹-966 cr
Financing
₹568 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 Limited₹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
1.76%
trailing 12 months
Dividend / share (TTM)
₹1.9
Last dividend
₹0.7
ex 17 Sep 2026
ActionDetailEx-date
Dividend₹0.7 / share17 Sep 2026
Dividend₹1.2 / share17 Feb 2026
Dividend₹1 / share11 Sep 2025
Dividend₹1.65 / share17 Feb 2025
Dividend₹1.3 / share5 Sep 2024
Dividend₹1.8 / share16 Feb 2024
Who owns it · 2026-06-30
No pledge
Promoter
65.2%
FII / Foreign
4.6%
DII / Domestic
1.8%
Retail / others
28.4%
Promoter stake down 8.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldThe President of India acting through and represented by the Ministry of Railways, Government of India · Promoters1.32 L · ₹2.1 cr18 Dec 23
SoldThe President of India acting through and represented by the Ministry of Railways, Government of India · Promoters75.24 L · ₹119.7 cr8 Dec 23
SoldThe President of India acting through and represented by the Ministry of Railways, Government of India · Promoters6.77 cr · ₹1072.8 cr7 Dec 23
Bulk / block deals
short · NSE321 Aug 26
short · NSE1,01024 Jul 26
short · NSE8617 Jun 26
Stake changes
SoldThe President of India, acting through and represented by the Ministry of Railways, Government of India · promoter→ 65.18% · 7.52 cr8 Dec 23
OthersThe President of India acting through and represented by the Ministry of Railways Government of Indiia · promoter→ 73.18%4 Mar 21
What shareholders were asked to approve
5 proposals passed only on promoter votes

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.

Yearly shareholder meeting · 18 Sep 2025
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial year ended on 31st March, 2025 along with the Boards’ Report, Auditors’ Report and the comments of the Comptroller and Auditor General of India (C&AG) thereon.
Backed by 97% of shareholders other than promotersneeded 50%
3.86 cr votes for, 13.20 L against · 3% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial year ended on 31st March, 2025 along with the Auditors’ Report and the comments of C&AG thereon.
Backed by 97% of shareholders other than promotersneeded 50%
3.86 cr votes for, 13.20 L against · 3% of mutual funds and other big investors said no
3
To confirm the payment of the Interim Dividend of Rs.1.65 per equity share of the face value of Rs.2/- each [i.e. 82.50% of paid-up equity share capital of Rs.188,10,31,480/- amounting to Rs.155.18 Crore) and to declare a final dividend @ Rs.1.00 per share on the face value of Rs.2/- each [i.e. 50% of paid-up capital of Rs.188,10,31,480/- amounting to Rs.94.05 Crore], for the financial year 2024-25.
Backed by 98% of shareholders other than promotersneeded 50%
3.94 cr votes for, 6.49 L against · 2% of mutual funds and other big investors said no
4
To appoint a Director in place of Shri Anand Kumar Singh, Director (Projects) (DIN: 07918656) who retires by rotation and being eligible, offers himself for re-appointment.
⚑ Passed only because promoters voted yes
Backed by 18% of shareholders other than promotersneeded 50%
73.51 L votes for, 3.26 cr against · 83% of mutual funds and other big investors said no
6
To appoint Shri Anupum Singh [DIN: 10637375] as Government Nominee [Part-Time (Official)] Director, liable to retire by rotation
⚑ Passed only because promoters voted yes
Backed by 9% of shareholders other than promotersneeded 50%
37.31 L votes for, 3.63 cr against · 92% of mutual funds and other big investors said no
7
To appoint Shri Anand Bhatia [DIN: 10937265] as Government Nominee [Part-Time (Official)] Director, liable to retire by rotation
⚑ Passed only because promoters voted yes
Backed by 9% of shareholders other than promotersneeded 50%
37.28 L votes for, 3.63 cr against · 92% of mutual funds and other big investors said no
8
To appoint Shri Thangavel Varadharajan (DIN: 08556664) as Independent (Part-time Non-Official) Director, not liable to retire by rotation
⚑ Passed only because promoters voted yes
Backed by 49% of shareholders other than promotersneeded 75%
1.98 cr votes for, 2.02 cr against · 52% of mutual funds and other big investors said no
9
To appoint Shri Ajit Kumar Mishra [DIN: 11108237] as Director (Works), liable to retire by rotation
⚑ Passed only because promoters voted yes
Backed by 19% of shareholders other than promotersneeded 50%
75.35 L votes for, 3.25 cr against · 83% 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 — 1 named members
owning 65.2% between them · as of 2026-06-30
THE PRESIDENT OF INDIA(THROUGH CHAIRMAN RAILWAY BOARD)65.17%

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.