Ircon International Ltd

ircon.org BSE: 541956 NSE : IRCON
About [ edit ]

Ircon International is a public sector construction company, with emphasis on infrastructure projects, domiciled in India and is incorporated under the provisions of the Companies Act applicable in India with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works. The Company caters to both domestic and international markets.(Source : 202003-01 Annual Report Page No:187)

Website BSE NSE
  • Market Cap ₹ 4,604 Cr.
  • Current Price ₹ 97.9
  • High / Low ₹ 108 / 58.0
  • Stock P/E 13.7
  • Book Value ₹ 89.1
  • Dividend Yield 4.85 %
  • ROCE 9.81 %
  • ROE 11.4 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Stock is trading at 1.10 times its book value
  • Company has been maintaining a healthy dividend payout of 46.00%
  • Debtor days have improved from 49.74 to 37.32 days.

Cons

  • Company has a low return on equity of 11.19% for last 3 years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
771 979 1,252 1,797 1,070 1,237 1,211 1,873 527 1,040 1,353
704 892 1,116 1,609 894 1,117 1,057 1,718 468 937 1,225
Operating Profit 66 87 136 188 176 120 154 155 59 104 128
OPM % 9% 9% 11% 10% 16% 10% 13% 8% 11% 10% 9%
Other Income 70 67 13 62 68 40 44 27 22 37 35
Interest 3 9 -4 7 5 6 12 4 4 6 5
Depreciation 7 15 14 16 19 20 21 23 23 23 23
Profit before tax 127 131 139 227 219 134 164 155 55 112 134
Tax % -34% 34% 33% 56% 34% 38% 13% 26% 37% 25% 24%
Net Profit 170 87 93 100 145 83 142 115 34 84 102
EPS in Rs 3.62 1.84 1.99 2.12 3.08 1.76 3.03 2.45 0.73 1.79 2.17
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
3,152 3,147 3,552 4,294 3,897 3,038 2,493 3,067 4,024 4,798 5,392 4,794
2,901 2,783 3,087 3,399 2,981 2,353 2,228 2,740 3,576 4,321 4,787 4,348
Operating Profit 251 364 465 895 917 685 264 328 448 478 604 446
OPM % 8% 12% 13% 21% 24% 23% 11% 11% 11% 10% 11% 9%
Other Income 67 79 196 249 253 266 421 313 189 213 179 122
Interest 12 8 7 11 39 33 43 59 65 15 28 19
Depreciation 41 37 57 43 34 57 31 27 16 52 83 92
Profit before tax 264 398 598 1,090 1,097 861 612 556 555 624 672 456
Tax % 31% 40% 22% 26% 32% 32% 36% 31% 26% 28% 28%
Net Profit 182 237 465 805 747 582 393 384 409 450 485 336
EPS in Rs 36.79 47.93 93.93 81.30 75.45 58.80 39.71 7.76 8.69 9.57 10.32 7.14
Dividend Payout % 20% 21% 20% 18% 24% 31% 43% 96% 47% 45% 46%
Compounded Sales Growth
10 Years:6%
5 Years:12%
3 Years:21%
TTM:-10%
Compounded Profit Growth
10 Years:10%
5 Years:-4%
3 Years:11%
TTM:-28%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:1%
Return on Equity
10 Years:16%
5 Years:11%
3 Years:11%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions
Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
10 10 10 20 20 20 20 99 94 94 94 94
Reserves 1,189 1,369 1,725 2,462 2,996 3,285 3,619 3,718 3,667 3,870 4,077 4,098
Borrowings 5 0 0 0 0 239 0 0 3,200 3,077 2,461 1,231
2,403 3,597 3,571 3,757 3,197 3,893 4,500 5,415 5,810 6,278 6,246 6,959
Total Liabilities 3,607 4,976 5,306 6,239 6,213 7,437 8,139 9,231 12,771 13,318 12,878 12,382
229 242 193 178 216 736 506 524 568 1,890 1,982 1,968
CWIP 8 29 59 70 48 30 75 549 964 55 30 5
Investments 130 180 203 245 434 496 487 781 784 809 804 845
3,241 4,525 4,850 5,746 5,515 6,174 7,070 7,378 10,455 10,565 10,064 9,564
Total Assets 3,607 4,976 5,306 6,239 6,213 7,437 8,139 9,231 12,771 13,318 12,878 12,382

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
266 816 603 559 -160 502 1,441 919 -2,617 -1,185 543
98 -69 55 86 14 -521 47 -1,834 -20 616 411
-34 -54 -62 -132 -233 -222 -219 -222 2,737 -93 -953
Net Cash Flow 330 694 595 513 -379 -242 1,269 -1,137 100 -662 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 31% 39% 52% 41% 27% 18% 14% 11% 9% 10%
Debtor Days 54 101 86 79 61 72 75 56 61 51 37
Inventory Turnover -0.01 0.18 3.16 2.12 0.28 2.59 2.33 2.45 0.96 1.14

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
89.18 89.18 89.18 89.18 89.18 89.18 89.18 89.18 89.18 89.18
1.28 0.32 0.28 0.26 0.15 0.14 0.20 0.18 0.23 0.34
3.87 5.14 4.95 4.92 4.31 3.35 2.88 2.90 2.04 1.79
5.66 5.36 5.58 5.63 6.35 7.33 7.73 7.74 8.55 8.69

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