MANINFRAConsumer Discretionary

Man Infraconstruction Limited

Residential, Commercial Projects · ISIN INE949H01023 · BSE 533169 · NSE EQ · FV ₹2
Last price
₹107
+1.61%today
What this company does

Man Infraconstruction Limited operates in Residential, Commercial Projects, part of the Consumer Discretionary sector. It booked ₹266 cr of revenue in its latest quarter (Q2 FY27) and kept 23.6% of sales as profit.

In the report:
64out of 100
Equitytale Health Score
Mixed

Healthier than 64% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 178–428 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)
37

At close. Not part of the score.

Profitability & returns73

How much profit it earns on the money it employs

Balance sheet85

How much it owes, and whether earnings cover the interest

Cash quality47

Whether reported profit actually arrives as cash

Growth & consistency27

Whether sales and profit have grown, and how steadily

Valuation50

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
✓ Strong 24% net margin
✓ Sales up 79% vs last year
✓ Promoters hold 63%
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in MANINFRA?

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 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — 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 We do not publish price targets or predict returns.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
₹107▲ +1.61%
latest close · 2026-11-04
1-year return
-0.1%
52-wk low ₹7052-wk high ₹146
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 ratio17.2Average
LowAverageHigh
P/B ratio1.90Moderate
Below bookModerateHigh
EV / EBITDA11.0Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity11.0%Fair
WeakFairStrong ▸15%
Return on capital15.4%Strong
WeakFairStrong
Net margin23.6%Strong
ThinDecentStrong
EBITDA margin36.5%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.02Comfortable
LowModerateHigh ▸1
Interest cover16.5×Strong
RiskyOkayStrong ▸5×
Current ratio5.10Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹4,331 cr
Book value
₹57
EPS
₹1.56
latest quarter
Net debt
₹-71 cr
more cash than debt
Enterprise value
₹4,259 cr
EBITDA
₹389 cr
annualised
EBIT
₹375 cr
annualised
Operating margin
35.3%
Return on assets
8.6%
Earnings yield
5.82%
P/S
4.07
Sales / share
₹26.4
Tax rate
29.5%
Face value
₹2
Shares
40.4 cr
Working capital
₹1,956 cr
Current assets
₹2,433 cr
Current liabilities
₹477 cr
Delivery %
37.2%
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 2026-11-04.

Worth vs price · from the FY 2026 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 ₹7–₹7, midpoint ₹7

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 · Q2 FY27 (consolidated)
Revenue from Operations₹266 cr
Other Income₹17 cr
Total Income₹283 cr
Cost of Materials₹33 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-42 cr
Employee Benefit Expense₹17 cr
Finance Costs₹6 cr
Depreciation & Amortisation₹3 cr
Other Expenses₹177 cr
Total Expenses₹195 cr
Profit before Tax₹88 cr
Tax Expense₹26 cr
Share of JV / Associates₹3 cr
Net Profit₹65 cr
Net margin on total income23.1%
Where the money goes · Q2 FY27
% of total income
Employee benefit expense₹17 cr5.9%
Finance costs₹6 cr2.0%
Depreciation & amortisation₹3 cr1.2%
Other expenses₹168 cr58.9%
Tax expense₹26 cr9.1%
Profit for the period₹65 cr22.8%
Total income ₹283 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue146 cr218 cr266 cr
Total income187 cr235 cr283 cr
Expenses133 cr155 cr195 cr
Profit before tax54 cr80 cr88 cr
Tax14 cr22 cr26 cr
Net profit (owners' share)41 cr63 cr63 cr
Net margin (owners' share, on revenue)28.2%28.7%23.6%
EPS (₹)1.061.771.56
YoY (latest quarter): total income +50.9% · net profit +4.6%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹2,918 cr
Shareholder equity
₹2,285 cr
parent shareholders
Total debt
₹48 cr
Cash
₹120 cr
Cash flow · H1 FY27
Operating
₹15 cr
Investing
₹63 cr
Financing
₹-40 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹709₹1.75 L cr33.8
Aditya Birla Real Estate Limited₹1,036₹1.27 L cr34.5
Lodha Developers Limited₹1,061₹1.06 L cr26.2
The Phoenix Mills Limited₹2,049₹73,277 cr56.2
Prestige Estates Projects Limited₹1,537₹66,199 cr70.1
Oberoi Realty Limited₹1,677₹60,976 cr20.0
Godrej Properties Limited₹1,670₹47,434 cr81.5
Brigade Enterprises Limited₹527₹17,189 cr22.2
Anant Raj Limited₹444₹15,967 cr25.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.09%
trailing 12 months
Dividend / share (TTM)
₹1.17
Last dividend
₹0.72
ex 19 May 2026
ActionDetailEx-date
Dividend₹0.72 / share19 May 2026
Dividend₹0.45 / share18 Nov 2025
Dividend₹0.45 / share27 May 2025
Dividend₹0.45 / share12 Feb 2025
Dividend₹0.45 / share19 Aug 2024
Dividend₹0.54 / share15 Feb 2024
Who owns it · 2026-09-30
No pledge
Promoter
62.5%
FII / Foreign
1.8%
DII / Domestic
0.0%
Retail / others
35.6%
Promoter stake down 4.8% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtParag K. Shah · Promoters1.00 L · ₹1.1 cr24 Feb 26
BoughtParag K. Shah · Promoters2.00 L · ₹2.6 cr24 Dec 25
BoughtParag K. Shah · Promoters63,000 · ₹82.1 L12 Dec 25
Bulk / block deals
short— · NSE21825 Aug 26
short— · NSE15014 May 26
short— · NSE3029 Apr 26
Stake changes
BoughtParag K. Shah · promoter→ 29.72% · 2.50 L25 Jun 26
BoughtPARAG K. SHAH · promoter→ 29.66% · 1.00 L24 Feb 26
BoughtAmit Bhansali · promoter→ 29.64% · 2.00 L24 Dec 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 · 21 Sep 2026
See the official result
1
Appointment of Mr. Vatsal P. Shah (DIN: 08125055) as a Director in the category of Non-Executive, Non-Independent Director of the company
Backed by 96% of shareholders other than promotersneeded 50%
3.25 cr votes for, 12.40 L against · 43% of mutual funds and other big investors said no
2
Appointment of Mr. Sivaramakrishnan S. Iyer (DIN: 00503487) as an Independent Director of the Company for a first term of 5 years
Backed by 100% of shareholders other than promotersneeded 75%
3.38 cr votes for, 7,047 against · 0% 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 — 7 named members
owning 62.5% between them · as of 2026-09-30
Parag Kishor Shah29.73%
Mansi Parag Shah14.80%
Manan Parag Shah8.74%
Vatsal Parag Shah8.67%
Dhruvi Manan Shah0.52%
Arhan Manan Shah0.05%
Purvi Manish Shah0.01%

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.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹513 cr raised in Jan 2024 by selling shares to selected investors

As of Sep 2026, the company says it has spent 86% of what it set aside, leaving ₹74 cr still to be spent. ICRA LIMITED watches the spending on the exchange’s behalf.

Expanding EPC and real estate business by acquiring new projects
90%
₹233 cr of ₹258 cr
Purchase of fixed assets including plant and machinery
17%
₹5 cr of ₹30 cr
Deployment towards working capital requirements of existing and new projects
100%
₹125 cr of ₹125 cr
General Corporate Purposes
originally ₹130 cr
budget changed
80%
₹100 cr of ₹125 cr
₹295 cr raised in Jan 2025 by selling shares to selected investors

As of Jun 2025, the company says it has spent 25% of what it set aside. ICRA LIMITED watches the spending on the exchange’s behalf.

Expanding EPC and real estate business by acquiring new projects
15%
of what was set aside
Purchase of fixed assets including plant and machinery
0%
of what was set aside
Deployment towards working capital requirements of existing and new projects
73%
of what was set aside
General Corporate Purposes
7%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

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