Ircon International Ltd
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]
- Market Cap ₹ 18,074 Cr.
- Current Price ₹ 192
- High / Low ₹ 330 / 134
- Stock P/E 24.8
- Book Value ₹ 67.3
- Dividend Yield 1.61 %
- ROCE 12.1 %
- ROE 11.9 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 34.2%
Cons
- Earnings include an other income of Rs.431 Cr.
- Debtor days have increased from 33.1 to 45.1 days.
- Promoter holding has decreased over last 3 years: -8.01%
* 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 BSE PSU Nifty 500 BSE SmallCap Nifty Smallcap 100
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,897 | 3,038 | 2,493 | 3,067 | 4,024 | 4,798 | 5,391 | 5,350 | 7,380 | 10,368 | 12,331 | 10,760 | |
2,981 | 2,351 | 2,228 | 2,740 | 3,576 | 4,320 | 4,787 | 4,845 | 6,795 | 9,664 | 11,406 | 9,915 | |
Operating Profit | 917 | 687 | 264 | 328 | 448 | 479 | 604 | 505 | 585 | 704 | 925 | 845 |
OPM % | 24% | 23% | 11% | 11% | 11% | 10% | 11% | 9% | 8% | 7% | 8% | 8% |
253 | 264 | 421 | 313 | 189 | 212 | 178 | 188 | 261 | 413 | 586 | 431 | |
Interest | 39 | 33 | 43 | 59 | 65 | 15 | 28 | 23 | 62 | 119 | 149 | 219 |
Depreciation | 34 | 57 | 31 | 27 | 16 | 52 | 83 | 92 | 95 | 107 | 100 | 118 |
Profit before tax | 1,097 | 861 | 612 | 556 | 555 | 624 | 672 | 578 | 689 | 891 | 1,261 | 939 |
Tax % | 32% | 32% | 36% | 31% | 26% | 28% | 28% | 32% | 14% | 14% | 26% | 22% |
747 | 583 | 393 | 384 | 409 | 450 | 485 | 391 | 592 | 765 | 930 | 728 | |
EPS in Rs | 37.73 | 29.40 | 19.85 | 3.88 | 4.35 | 4.79 | 5.16 | 4.16 | 6.30 | 8.14 | 9.88 | 7.73 |
Dividend Payout % | 24% | 31% | 43% | 96% | 47% | 45% | 46% | 36% | 40% | 37% | 31% | 34% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 15% |
3 Years: | 13% |
TTM: | -13% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | 9% |
3 Years: | 7% |
TTM: | -20% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 33% |
3 Years: | 73% |
1 Year: | -41% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 13% |
3 Years: | 14% |
Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 20 | 20 | 20 | 99 | 94 | 94 | 94 | 94 | 188 | 188 | 188 | 188 |
Reserves | 2,996 | 3,285 | 3,619 | 3,718 | 3,667 | 3,870 | 4,077 | 4,309 | 4,478 | 5,023 | 5,683 | 6,138 |
0 | 239 | 0 | 0 | 3,200 | 3,077 | 0 | 331 | 1,399 | 1,505 | 2,570 | 4,299 | |
3,197 | 3,893 | 4,500 | 5,415 | 5,810 | 6,278 | 6,009 | 6,520 | 8,382 | 8,821 | 9,004 | 8,896 | |
Total Liabilities | 6,213 | 7,437 | 8,139 | 9,231 | 12,771 | 13,318 | 10,181 | 11,254 | 14,446 | 15,537 | 17,445 | 19,521 |
216 | 736 | 506 | 524 | 568 | 1,890 | 1,982 | 1,922 | 1,845 | 1,825 | 1,736 | 2,453 | |
CWIP | 48 | 30 | 75 | 549 | 964 | 55 | 30 | 13 | 36 | 19 | 549 | 976 |
Investments | 434 | 496 | 487 | 781 | 784 | 809 | 803 | 850 | 971 | 1,049 | 1,553 | 1,296 |
5,515 | 6,174 | 7,070 | 7,378 | 10,455 | 10,565 | 7,366 | 8,468 | 11,594 | 12,644 | 13,607 | 14,796 | |
Total Assets | 6,213 | 7,437 | 8,139 | 9,231 | 12,771 | 13,318 | 10,181 | 11,254 | 14,446 | 15,537 | 17,445 | 19,521 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-160 | 502 | 1,441 | 919 | -2,617 | -1,185 | -136 | 518 | 1,414 | -278 | -79 | -1,110 | |
14 | -521 | 47 | -1,834 | -20 | 616 | 447 | -785 | -1,241 | 1,582 | -720 | 32 | |
-233 | -222 | -219 | -222 | 2,737 | -93 | -275 | 169 | 671 | -223 | 640 | 1,156 | |
Net Cash Flow | -379 | -242 | 1,269 | -1,137 | 100 | -662 | 36 | -99 | 844 | 1,080 | -158 | 78 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 61 | 72 | 75 | 56 | 61 | 51 | 37 | 43 | 34 | 30 | 24 | 45 |
Inventory Days | 173 | 150 | 157 | 152 | 320 | 76 | 3 | |||||
Days Payable | 822 | 428 | 406 | 550 | 588 | 477 | 48 | |||||
Cash Conversion Cycle | -588 | 72 | -203 | -193 | -337 | 51 | -231 | -358 | 34 | 30 | 24 | 1 |
Working Capital Days | -81 | -147 | -215 | -175 | -162 | -101 | -85 | -118 | -123 | -45 | -17 | -14 |
ROCE % | 41% | 27% | 18% | 14% | 11% | 9% | 12% | 13% | 14% | 16% | 18% | 12% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
1d - Executive Director Vinod Kumar Gupta ceased as senior management on 14 July 2025 due to repatriation.
-
Pending Litigation(S) Or Dispute(S) Or Outcome(S) Thereof
10 Jul - IRCON faces Rs.72.87 Cr arbitration claim by M/s S.A. Yadav over Western DFC construction dispute.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Jul - No physical share certificates received for dematerialization in Q1 FY2025-26.
-
Announcement under Regulation 30 (LODR)-Change in Management
8 Jul - Shri Vivek Varshney given additional charge as IRCON Chief Vigilance Officer from 8 July 2025 for six months.
-
Closure of Trading Window
26 Jun - Trading window closed from July 1, 2025, until 48 hours post Q1 financial results announcement.
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2010
from bse
Concalls
-
May 2025Transcript PPT REC
-
Feb 2025Transcript PPT
-
Nov 2024TranscriptNotesPPT
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT REC
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Aug 2022Transcript PPT
-
Jun 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Nov 2021Transcript PPT
-
Aug 2021TranscriptNotesPPT
-
Jun 2021Transcript PPT
-
Feb 2021Transcript PPT
-
Nov 2020TranscriptNotesPPT
-
Sep 2020Transcript PPT
-
Jul 2020Transcript PPT
-
Feb 2020TranscriptPPT
-
Nov 2019TranscriptPPT
-
Aug 2019TranscriptPPT
-
Jun 2019Transcript PPT
-
Feb 2019TranscriptPPT
Overview
Incorporated in 1976, Ircon was awarded Mini Ratna Category-I status in 1998 and was elevated to ‘Navratna’ status by the Department of Public Enterprises, Ministry of Finance, in October 2023. In FY24, the Government of India divested 8% stake in the company via an Offer for Sale, reducing its shareholding to 65% as of September 2024[1] [2] [3]