Ircon International Ltd

₹ 58.6 1.65%
02 Feb 1:15 p.m.
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 5,516 Cr.
  • Current Price 58.6
  • High / Low 66.8 / 34.8
  • Stock P/E 7.95
  • Book Value 52.5
  • Dividend Yield 4.29 %
  • ROCE 14.0 %
  • ROE 13.0 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.11 times its book value
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 33.2%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 11.2% over last 3 years.
  • Earnings include an other income of Rs.315 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,237 1,211 1,873 527 1,040 1,354 2,422 1,142 1,523 1,762 2,953 2,002 2,239
1,117 1,057 1,718 468 937 1,225 2,223 1,033 1,384 1,609 2,768 1,842 2,039
Operating Profit 120 154 155 59 104 129 199 110 139 153 185 160 200
OPM % 10% 13% 8% 11% 10% 10% 8% 10% 9% 9% 6% 8% 9%
40 44 27 22 37 33 109 42 69 68 86 79 81
Interest 6 12 4 4 6 5 8 10 16 19 24 29 31
Depreciation 20 21 23 23 23 23 23 23 23 23 26 24 24
Profit before tax 134 164 155 55 112 134 276 119 169 179 221 186 226
Tax % 38% 13% 26% 37% 25% 24% 38% 25% 26% 24% -9% 22% 23%
Net Profit 83 142 115 34 84 102 170 89 126 136 242 145 174
EPS in Rs 0.88 1.51 1.23 0.37 0.89 1.09 1.81 0.95 1.34 1.44 2.57 1.54 1.85
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,147 3,552 4,294 3,897 3,038 2,493 3,067 4,024 4,798 5,391 5,350 7,380 8,955
2,782 3,079 3,399 2,981 2,351 2,228 2,740 3,576 4,320 4,787 4,845 6,793 8,258
Operating Profit 365 473 895 917 687 264 328 448 479 604 505 587 698
OPM % 12% 13% 21% 24% 23% 11% 11% 11% 10% 11% 9% 8% 8%
78 188 249 253 264 421 313 189 212 178 188 266 315
Interest 8 7 11 39 33 43 59 65 15 28 23 69 102
Depreciation 37 57 43 34 57 31 27 16 52 83 92 95 97
Profit before tax 398 598 1,090 1,097 861 612 556 555 624 672 578 689 813
Tax % 40% 22% 26% 32% 32% 36% 31% 26% 28% 28% 32% 14%
Net Profit 237 465 805 747 583 393 384 409 450 485 391 592 696
EPS in Rs 23.97 46.97 40.65 37.73 29.40 19.85 3.88 4.35 4.79 5.16 4.16 6.30 7.40
Dividend Payout % 21% 20% 18% 24% 31% 43% 96% 47% 45% 46% 36% 17%
Compounded Sales Growth
10 Years: 8%
5 Years: 19%
3 Years: 15%
TTM: 39%
Compounded Profit Growth
10 Years: 2%
5 Years: 12%
3 Years: 10%
TTM: 43%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 9%
1 Year: 26%
Return on Equity
10 Years: 14%
5 Years: 11%
3 Years: 11%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
10 10 20 20 20 20 99 94 94 94 94 188 188
Reserves 1,369 1,725 2,462 2,996 3,285 3,619 3,718 3,667 3,870 4,077 4,309 4,478 4,746
-0 -0 -0 -0 239 -0 -0 3,200 3,077 -0 331 1,399 1,430
3,597 3,571 3,757 3,197 3,893 4,500 5,415 5,810 6,278 6,009 6,520 8,382 8,783
Total Liabilities 4,976 5,306 6,239 6,213 7,437 8,139 9,231 12,771 13,318 10,181 11,254 14,446 15,147
242 193 178 216 736 506 524 568 1,890 1,982 1,922 1,845 1,853
CWIP 29 59 70 48 30 75 549 964 55 30 13 36 6
Investments 180 203 245 434 496 487 781 784 809 803 850 971 1,101
4,525 4,850 5,746 5,515 6,174 7,070 7,378 10,455 10,565 7,366 8,468 11,594 12,187
Total Assets 4,976 5,306 6,239 6,213 7,437 8,139 9,231 12,771 13,318 10,181 11,254 14,446 15,147

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
816 603 559 -160 502 1,441 919 -2,617 -1,185 -136 518 1,405
-69 55 86 14 -521 47 -1,834 -20 616 447 -785 -1,241
-54 -62 -132 -233 -222 -219 -222 2,737 -93 -275 169 679
Net Cash Flow 694 595 513 -379 -242 1,269 -1,137 100 -662 36 -99 844

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 101 86 79 61 72 75 56 61 51 37 43 34
Inventory Days 111 173 150 157 152 320 76
Days Payable 570 822 428 406 550 588 477
Cash Conversion Cycle 101 86 -380 -588 72 -203 -193 -337 51 -231 -358 34
Working Capital Days -74 -121 -104 -81 -147 -215 -175 -162 -101 -85 -118 -145
ROCE % 31% 39% 52% 41% 27% 18% 14% 11% 9% 12% 13% 14%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
89.18 89.18 89.18 89.18 73.18 73.18 73.18 73.18 73.18 73.18 73.18 73.18
0.20 0.18 0.23 0.34 1.59 2.24 2.30 2.49 2.23 2.14 1.96 2.71
2.88 2.90 2.04 1.79 0.34 0.94 0.80 0.89 1.00 1.07 1.08 1.82
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.26 0.00
7.73 7.74 8.55 8.69 24.89 23.64 23.71 23.44 23.58 23.60 23.52 22.28

* 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.

Click on the line-items to see the names of individual entities.

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