Man Infraconstruction Ltd
Man Infraconstruction Limited (MICL) is an integrated EPC (Engineering, Procurement & Construction) company with experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments. [1]
- Market Cap ₹ 4,293 Cr.
- Current Price ₹ 106
- High / Low ₹ 192 / 99.0
- Stock P/E 26.7
- Book Value ₹ 50.9
- Dividend Yield 0.85 %
- ROCE 13.1 %
- ROE 9.94 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 23.2%
Cons
- Company has a low return on equity of 13.6% over last 3 years.
- Earnings include an other income of Rs.150 Cr.
- Promoter holding has decreased over last 3 years: -4.68%
- Working capital days have increased from 442 days to 758 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 Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 267 | 192 | 212 | 158 | 193 | 166 | 107 | 120 | 237 | 798 | 708 | 395 | 352 | |
| 260 | 175 | 190 | 130 | 175 | 126 | 109 | 116 | 175 | 661 | 550 | 304 | 282 | |
| Operating Profit | 7 | 17 | 21 | 29 | 18 | 41 | -2 | 4 | 61 | 137 | 158 | 91 | 70 |
| OPM % | 3% | 9% | 10% | 18% | 9% | 25% | -2% | 3% | 26% | 17% | 22% | 23% | 20% |
| 45 | 68 | 52 | 67 | 90 | 108 | 96 | 114 | 75 | 83 | 125 | 123 | 150 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 0 | 5 | 5 | 4 | 4 |
| Depreciation | 10 | 10 | 7 | 5 | 5 | 4 | 5 | 6 | 5 | 7 | 7 | 7 | 9 |
| Profit before tax | 41 | 73 | 65 | 89 | 102 | 143 | 89 | 110 | 131 | 209 | 271 | 202 | 207 |
| Tax % | 31% | 31% | 34% | 33% | 28% | 24% | 22% | 16% | 19% | 20% | 21% | 23% | |
| 29 | 51 | 43 | 60 | 74 | 109 | 69 | 92 | 106 | 166 | 215 | 157 | 161 | |
| EPS in Rs | 0.77 | 1.36 | 1.16 | 1.61 | 1.98 | 2.92 | 1.85 | 2.49 | 2.85 | 4.47 | 5.80 | 4.18 | 4.12 |
| Dividend Payout % | 23% | 13% | 88% | 22% | 18% | 29% | 20% | 24% | 44% | 20% | 28% | 22% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 30% |
| 3 Years: | 19% |
| TTM: | -9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 18% |
| 3 Years: | 14% |
| TTM: | -12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 35% |
| 3 Years: | 10% |
| 1 Year: | -28% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 13% |
| 3 Years: | 14% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 74 | 74 | 74 | 75 | 81 |
| Reserves | 539 | 581 | 574 | 634 | 678 | 757 | 811 | 881 | 930 | 1,062 | 1,412 | 1,581 | 1,974 |
| 7 | 3 | 0 | 0 | 0 | 10 | 0 | 0 | 0 | 11 | 9 | 0 | 0 | |
| 137 | 74 | 73 | 96 | 70 | 55 | 68 | 106 | 105 | 252 | 169 | 113 | 67 | |
| Total Liabilities | 732 | 708 | 696 | 780 | 798 | 871 | 929 | 1,037 | 1,109 | 1,399 | 1,664 | 1,769 | 2,121 |
| 48 | 36 | 31 | 32 | 30 | 52 | 48 | 44 | 41 | 44 | 46 | 45 | 55 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 1 | 2 | 0 | 0 | 0 | 0 |
| Investments | 59 | 139 | 148 | 220 | 142 | 90 | 90 | 136 | 152 | 293 | 473 | 477 | 673 |
| 624 | 533 | 517 | 528 | 626 | 728 | 790 | 856 | 914 | 1,062 | 1,145 | 1,248 | 1,392 | |
| Total Assets | 732 | 708 | 696 | 780 | 798 | 871 | 929 | 1,037 | 1,109 | 1,399 | 1,664 | 1,769 | 2,121 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 38 | -14 | 20 | 35 | 27 | -10 | 15 | 23 | 16 | 25 | 230 | 15 | |
| -7 | 50 | 31 | -58 | 7 | 22 | 22 | -11 | 41 | -31 | -206 | -61 | |
| -22 | -20 | -46 | -0 | -30 | -32 | -15 | -23 | -32 | -37 | 64 | 9 | |
| Net Cash Flow | 9 | 16 | 6 | -23 | 4 | -20 | 22 | -12 | 26 | -43 | 87 | -36 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 176 | 243 | 210 | 276 | 112 | 135 | 111 | 127 | 118 | 99 | 32 | 55 |
| Inventory Days | 18 | 25 | 12 | 19 | 12 | 18 | 34 | 14 | 22 | 1 | 4 | 10 |
| Days Payable | 178 | 170 | 141 | 243 | 175 | 152 | 157 | 171 | 144 | 87 | 55 | 145 |
| Cash Conversion Cycle | 16 | 98 | 80 | 52 | -50 | 2 | -12 | -30 | -5 | 13 | -19 | -81 |
| Working Capital Days | 440 | 503 | 402 | 696 | 686 | 1,092 | 1,886 | 1,483 | 840 | 258 | 310 | 758 |
| ROCE % | 7% | 9% | 10% | 12% | 13% | 19% | 11% | 12% | 14% | 20% | 21% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Associate Atmosphere Realty received IOD for O2 Highstreet (Nahur, Mulund West); 7,200 sq.ft saleable; MICL 30% stake
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 2d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
24 Feb - Received IOD for Pali Hill redevelopment; site vacated; demolition and construction to follow; >₹500 crore sale potential; launch next quarter.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
13 Feb - 12 Feb 2026: Man Infraconstruction won Iconic Developer, Jade Park Residential, Aaradhya Avaan Luxury, and Visionary awards.
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Statement Of Deviation Or Variation(S) In The Use Of Proceeds Of Preferential Issue Of Equity Shares And Equity Share Warrants Under Regulation 32 Of The SEBI (LODR) Regulations, 2015 For The Quarter Ended December 31, 2025
11 Feb - No deviation in utilization of Rs.512.641 crore preferential issue proceeds for quarter ended Dec 31, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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