Afcons Infrastructure Ltd
Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company.[1]
- Market Cap ₹ 14,862 Cr.
- Current Price ₹ 404
- High / Low ₹ 570 / 382
- Stock P/E 25.2
- Book Value ₹ 134
- Dividend Yield 0.62 %
- ROCE 22.5 %
- ROE 14.9 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 19.0% CAGR over last 5 years
Cons
- The company has delivered a poor sales growth of 6.20% over past five years.
- Promoters have pledged or encumbered 53.5% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Construction Construction Civil Construction
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 BSE Allcap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 9,255 | 8,931 | 10,499 | 12,467 | 12,907 | 12,500 | 12,775 | |
| 8,499 | 8,183 | 9,729 | 11,126 | 11,545 | 11,036 | 11,259 | |
| Operating Profit | 756 | 748 | 770 | 1,340 | 1,363 | 1,464 | 1,516 |
| OPM % | 8% | 8% | 7% | 11% | 11% | 12% | 12% |
| 243 | 216 | 287 | 196 | 370 | 462 | 438 | |
| Interest | 386 | 466 | 423 | 444 | 577 | 628 | 649 |
| Depreciation | 234 | 245 | 351 | 469 | 491 | 489 | 500 |
| Profit before tax | 378 | 253 | 283 | 623 | 665 | 809 | 804 |
| Tax % | 36% | 50% | 8% | 34% | 34% | 28% | |
| 242 | 126 | 259 | 410 | 442 | 586 | 590 | |
| EPS in Rs | 33.61 | 17.50 | 36.03 | 56.92 | 12.98 | 15.94 | 16.04 |
| Dividend Payout % | 10% | 20% | 10% | 7% | 19% | 16% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 6% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 31% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 17% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 72 | 72 | 72 | 72 | 341 | 368 | 368 |
| Reserves | 1,394 | 1,498 | 2,167 | 2,147 | 2,735 | 4,459 | 4,566 |
| 2,101 | 2,061 | 1,629 | 2,077 | 2,538 | 2,359 | 3,582 | |
| 8,865 | 8,213 | 8,532 | 9,342 | 9,998 | 9,490 | 8,955 | |
| Total Liabilities | 12,431 | 11,844 | 12,400 | 13,638 | 15,611 | 16,675 | 17,471 |
| 1,912 | 1,985 | 2,305 | 2,447 | 2,770 | 2,725 | 2,585 | |
| CWIP | 18 | 146 | 18 | 184 | 43 | 33 | 42 |
| Investments | 12 | 12 | 12 | 12 | 12 | 20 | 20 |
| 10,490 | 9,701 | 10,065 | 10,995 | 12,786 | 13,897 | 14,825 | |
| Total Assets | 12,431 | 11,844 | 12,400 | 13,638 | 15,611 | 16,675 | 17,471 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 824 | 794 | 570 | 1,198 | 813 | -117 | |
| -334 | -181 | -211 | -820 | -891 | -139 | |
| -406 | -543 | -516 | -471 | 246 | 292 | |
| Net Cash Flow | 84 | 70 | -157 | -94 | 168 | 35 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 90 | 97 | 76 | 60 | 84 | 79 |
| Inventory Days | 145 | 132 | 152 | 150 | 148 | 110 |
| Days Payable | 443 | 433 | 317 | 328 | 392 | 395 |
| Cash Conversion Cycle | -207 | -204 | -89 | -119 | -161 | -207 |
| Working Capital Days | 6 | -6 | -3 | 3 | 1 | 60 |
| ROCE % | 20% | 19% | 27% | 25% | 23% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
24 Nov - One-to-one analyst meeting with Anand Rathi on Nov 27, 2025 in Mumbai; no unpublished price-sensitive information.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
17 Nov - H1 revenue INR6,520cr; guidance cut to 10%+; orderbook INR32,681cr; L1 ~INR23,000cr; board changes; Jal Jeevan receivables INR450cr.
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Announcement under Regulation 30 (LODR)-Issue of Securities
14 Nov - Issued Rs.30 Crore commercial paper on Nov 14, 2025; 131-day tenor, 7.50% p.a., maturity Mar 25, 2026, Crisil A1+.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Uploaded audio of Q2 & H1 FY26 earnings call (13 Nov 2025, 2:00 PM IST).
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Uploaded audio recording of Q2 & H1 FY26 earnings call held 13 Nov 2025.
Annual reports
Concalls
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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Jun 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Nov 2024TranscriptNotesPPT
Market Leadership[1]
- 10th largest international marine and port facilities contractor globally.
- 12th largest contractor in the bridges segment globally.
- 42nd largest contractor in the transportation segment.
- 18th largest contractor in the transmission lines and aqueducts segment.