Afcons Infrastructure Ltd
Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company.[1]
- Market Cap ₹ 10,456 Cr.
- Current Price ₹ 284
- High / Low ₹ 499 / 272
- Stock P/E 20.5
- Book Value ₹ 147
- Dividend Yield 0.88 %
- ROCE 19.6 %
- ROE 11.1 %
- Face Value ₹ 10.0
Pros
Cons
- The company has delivered a poor sales growth of 4.78% over past five years.
- Company has a low return on equity of 13.6% over last 3 years.
- Promoters have pledged 53.5% of their holding.
- Dividend payout has been low at 14.9% of profits over last 3 years
- Working capital days have increased from 29.1 days to 65.5 days
* 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 Nifty Smallcap 100 BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 9,934 | 9,376 | 11,019 | 12,637 | 13,268 | 12,548 | 12,558 | |
| 9,113 | 8,505 | 10,076 | 11,305 | 11,890 | 11,187 | 11,090 | |
| Operating Profit | 821 | 870 | 943 | 1,333 | 1,377 | 1,361 | 1,468 |
| OPM % | 8% | 9% | 9% | 11% | 10% | 11% | 12% |
| 186 | 138 | 244 | 185 | 367 | 469 | 299 | |
| Interest | 391 | 468 | 425 | 447 | 577 | 629 | 648 |
| Depreciation | 240 | 250 | 355 | 472 | 495 | 491 | 478 |
| Profit before tax | 376 | 290 | 407 | 599 | 673 | 710 | 640 |
| Tax % | 34% | 42% | 12% | 31% | 33% | 31% | |
| 248 | 170 | 358 | 411 | 450 | 487 | 450 | |
| EPS in Rs | 34.12 | 23.20 | 49.51 | 57.09 | 13.20 | 13.24 | 12.27 |
| Dividend Payout % | 10% | 15% | 7% | 7% | 19% | 19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 4% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 11% |
| TTM: | -2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 14% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 72 | 72 | 72 | 72 | 341 | 368 | 368 |
| Reserves | 1,721 | 1,868 | 2,190 | 2,654 | 3,255 | 4,893 | 5,021 |
| 2,118 | 2,066 | 2,073 | 2,062 | 2,523 | 2,343 | 3,565 | |
| 9,186 | 8,484 | 8,638 | 9,513 | 10,114 | 9,515 | 8,979 | |
| Total Liabilities | 13,097 | 12,490 | 12,974 | 14,301 | 16,234 | 17,119 | 17,934 |
| 1,938 | 2,003 | 2,318 | 2,498 | 2,784 | 2,738 | 2,597 | |
| CWIP | 18 | 146 | 18 | 184 | 43 | 33 | 42 |
| Investments | 0 | 0 | 1 | 0 | 1 | 1 | 1 |
| 11,141 | 10,341 | 10,638 | 11,619 | 13,406 | 14,348 | 15,294 | |
| Total Assets | 13,097 | 12,490 | 12,974 | 14,301 | 16,234 | 17,119 | 17,934 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 1,050 | 929 | 610 | 1,215 | 707 | -132 | |
| -390 | -275 | -255 | -861 | -859 | -131 | |
| -455 | -564 | -521 | -483 | 246 | 290 | |
| Net Cash Flow | 205 | 90 | -165 | -128 | 94 | 27 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 91 | 100 | 76 | 63 | 86 | 81 |
| Inventory Days | 146 | 135 | 146 | 150 | 148 | 112 |
| Days Payable | 458 | 427 | 310 | 332 | 393 | 393 |
| Cash Conversion Cycle | -222 | -192 | -88 | -119 | -160 | -200 |
| Working Capital Days | 8 | -1 | 5 | 10 | 12 | 65 |
| ROCE % | 19% | 20% | 23% | 23% | 20% |
Documents
Announcements
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
24 Feb - Client terminated ~EUR113.03m NR1 EPC contract (117 km); ~93.47% complete as of Dec 31, 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
19 Feb - Of Analyst/Investors one to one meeting scheduled on February 25, 2026 and February 27, 2026.
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 17 Feb
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 17 Feb
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16 Feb - Earnings Call Transcript of Q3 & 9M FY26
Annual reports
Concalls
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Feb 2026Transcript PPT
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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 2024TranscriptAI SummaryPPT
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.