Ircon International Ltd

Ircon International Ltd

₹ 220 -1.28%
28 Mar - close price
About

Ircon International Limited (IRCON) commenced its business in 1976 as a railway construction company, it diversified progressively since 1985 as an integrated engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc. [1] [2]

Key Points

Brand Reputation
It is the only Indian PSU & one among five Indian companies to make it to the list of top 250 international contractors. [1]
It is a sectoral leader in transportation infrastructure amongst the public sector construction companies in India with a specialization in the execution of Railway Projects on a turnkey basis. [2]

  • Market Cap 20,658 Cr.
  • Current Price 220
  • High / Low 281 / 53.8
  • Stock P/E 25.0
  • Book Value 58.1
  • Dividend Yield 1.37 %
  • ROCE 18.0 %
  • ROE 15.8 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 38.1%

Cons

  • Promoter holding has decreased over last quarter: -8.01%
  • Company has a low return on equity of 12.5% over last 3 years.
  • Earnings include an other income of Rs.394 Cr.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,246 2,260 1,053 1,421 1,639 2,797 1,897 2,117 2,237 3,670 2,626 2,884 2,792
1,160 2,084 980 1,323 1,532 2,700 1,790 1,964 2,110 3,471 2,455 2,711 2,618
Operating Profit 86 177 73 98 107 97 108 153 127 199 171 173 174
OPM % 7% 8% 7% 7% 7% 3% 6% 7% 6% 5% 6% 6% 6%
58 107 50 82 70 68 60 83 93 104 68 139 84
Interest 3 2 3 1 2 2 0 4 1 2 2 3 3
Depreciation 6 6 6 6 6 9 7 7 7 17 9 9 9
Profit before tax 134 276 114 173 169 154 160 226 213 284 228 299 246
Tax % 23% 33% 26% 23% 23% -28% 23% 21% -7% 13% 29% 23% 25%
103 185 85 133 130 197 123 178 227 248 162 230 185
EPS in Rs 1.10 1.97 0.90 1.41 1.38 2.10 1.31 1.89 2.42 2.64 1.72 2.45 1.97
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,578 4,221 4,057 2,864 2,419 3,024 3,891 4,415 5,202 4,956 6,910 9,921 11,971
3,116 3,401 2,985 2,255 2,089 2,718 3,513 4,036 4,725 4,587 6,540 9,338 11,255
Operating Profit 462 820 1,072 609 329 306 377 379 477 369 370 584 717
OPM % 13% 19% 26% 21% 14% 10% 10% 9% 9% 7% 5% 6% 6%
204 250 249 254 344 304 231 263 239 244 271 340 394
Interest 7 11 38 9 43 61 65 16 27 15 4 3 9
Depreciation 57 44 34 10 28 18 13 12 16 25 27 38 44
Profit before tax 602 1,015 1,249 844 602 532 530 615 673 574 610 883 1,057
Tax % 22% 28% 27% 31% 34% 31% 27% 28% 27% 30% 11% 12%
470 730 906 579 395 369 388 445 490 405 544 777 825
EPS in Rs 47.47 36.87 45.78 29.26 19.95 3.73 4.12 4.73 5.21 4.30 5.79 8.26 8.78
Dividend Payout % 20% 20% 20% 31% 43% 100% 49% 46% 46% 35% 43% 36%
Compounded Sales Growth
10 Years: 9%
5 Years: 21%
3 Years: 24%
TTM: 32%
Compounded Profit Growth
10 Years: 1%
5 Years: 15%
3 Years: 18%
TTM: 14%
Stock Price CAGR
10 Years: %
5 Years: 40%
3 Years: 71%
1 Year: 311%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 13%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 20 20 20 20 99 94 94 94 94 188 188 188
Reserves 1,733 2,281 2,973 3,334 3,647 3,729 3,657 3,855 4,067 4,312 4,433 4,990 5,277
0 0 0 0 0 0 3,200 3,077 0 0 0 1 3
3,786 3,910 3,165 3,395 4,470 5,340 5,749 5,943 5,785 6,258 8,106 8,497 8,730
Total Liabilities 5,529 6,211 6,158 6,749 8,137 9,168 12,701 12,969 9,946 10,664 12,727 13,676 14,199
193 178 153 157 146 446 493 607 765 771 748 744 744
CWIP 3 2 17 6 3 0 1 48 10 10 10 3 4
Investments 208 295 494 737 1,021 1,223 1,201 1,314 1,469 1,506 1,764 2,138 2,500
5,124 5,736 5,494 5,848 6,966 7,499 11,006 11,000 7,702 8,378 10,205 10,792 10,951
Total Assets 5,529 6,211 6,158 6,749 8,137 9,168 12,701 12,969 9,946 10,664 12,727 13,676 14,199

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
571 569 64 503 1,402 1,021 -2,613 -1,243 342 805 1,351 -120
85 46 127 -648 85 -1,861 7 685 -138 -713 -130 1,313
-62 -132 -233 -191 -219 -222 2,737 -93 -275 -158 -337 -231
Net Cash Flow 593 483 -42 -336 1,268 -1,062 131 -650 -71 -67 884 962

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 86 95 70 73 105 51 63 42 39 37 37 32
Inventory Days 153 137 152 547 320 74 286
Days Payable 441 357 553 905 576 466 1,063
Cash Conversion Cycle 86 95 70 73 -183 -169 -339 -316 -217 -354 -739 32
Working Capital Days -97 -103 -67 -153 -223 -182 -177 -106 -114 -150 -136 -55
ROCE % 38% 51% 49% 27% 18% 14% 11% 9% 12% 14% 14% 18%

Shareholding Pattern

Numbers in percentages

30 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 73.18% 65.17%
1.59% 2.24% 2.30% 2.49% 2.23% 2.14% 1.96% 2.71% 3.99% 5.17% 4.01% 4.11%
0.34% 0.94% 0.80% 0.89% 1.00% 1.07% 1.08% 1.82% 1.87% 0.80% 0.36% 0.93%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.26% 0.00% 0.26% 0.26% 0.26% 0.26%
24.89% 23.64% 23.71% 23.44% 23.58% 23.60% 23.52% 22.28% 20.71% 20.59% 22.17% 29.51%
No. of Shareholders 1,85,1242,39,6232,72,8092,83,4463,10,5673,07,0273,04,4362,89,4862,97,6233,26,0014,70,2755,98,477

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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