A2Z Infra Engineering Ltd.

•

a2zgroup.co.inBSE: 533292NSE: A2ZINFRA

Market Cap₹ 293 Cr.

Current Price

High / Low₹ 23 / 12

Stock P/E0.0

Book Value₹ 0

Price to Book89.21

Dividend Yield0.00 %

ROCE3.6 %

ROE-37.6 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • ES: 99.7% • Others: 0.3%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Operating margins have improved to -9.4% from -109.3%
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a high debt-to-equity of 24.22x
A large part of profit comes from other income (321.5% of PBT)
Company has a low return on equity of -113.6% over last 3 years
Recent results are weak - TTM profit is down 105.5% versus prior year
Company has a low return on capital employed of -5.2%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3989.15	33.08	548853.62	0.95	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.95	47.74	42940.99	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1410.25	21.19	24083.20	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.18	24.28	23165.60	1.36	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1234.85	35.26	21213.19	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	276.40	19.81	15534.85	1.81	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	969.70	26.16	11277.57	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.30	21.25	11126.30	1.61	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	KEC	407.85	19.61	10856.97	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	284.95	72.43	10480.02	0.70	303.00	120.52	26710.00	692.49	12.88	9.42
11.	WELENT	741.55	33.58	10264.08	0.40	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	A2ZINFRA	16.49	79.92	292.73	0.00	-0.03	-104.61	68.45	-24.37	9.82	0.89

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	19	20	20	28	16	10	9	13	28	16	31	39	20
	19	23	41	50	17	13	11	12	25	17	33	44	23
Operating Profit	-0	-26	21	20	-1	-43	-2	48	-4	3	-8	-3	-0
OPM %	-0.38%	-130.32%	105.25%	72.40%	-7.11%	-427.88%	-16.65%	380.56%	-12.85%	16.01%	-25.68%	-7.96%	-2.23%
Other Income	2	8	0	1	2	2	3	0	0	0	2	0	3
Interest	1	1	0	0	1	1	0	0	0	0	1	1	2
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	0	-8	-1	0	0	-22	0	24	-1	0	-4	1	-0
Tax %	0.00%	-1.08%	-0.00%	75.00%	0.00%	-5.03%	0.00%	9.03%	-0.00%	0.00%	-0.00%	-104.77%	-0.00%
Net Profit	0	-8	-1	0	0	-23	0	22	-1	0	-4	2	-0
	0	-0	-0	0	0	-1	0	0	-0	0	-0	0	-0
Equity Capital	176	176	176	176	176	176	176	176	176	176	176	176	178
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	961	635	358	507	385	188	136	70	86	49	106
	900	587	385	465	424	236	295	100	132	53	116
Operating Profit	95	63	10	59	-20	-30	-149	-0	-35	2	—
OPM %	10	10	3	12	-5	-16	-109	-0	-41	5	—
Other Income	33	16	37	17	19	18	10	31	11	7	5
Interest	117	120	130	41	49	48	20	7	3	2	5
Depreciation	17	14	13	11	10	5	4	5	1	1	1
	-39	-81	-115	33	-255	-83	-172	-65	-9	2	-3
Tax %	-2	-73	-0	4	-14	-0	-0	-41	-2	148	28
Net Profit	-40	-139	-115	32	-291	-83	-172	-92	-9	-1	-2
EPS	-4	-11	-8	2	-17	-5	-10	-5	-0	-0	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-3	-10	-7	2	-17	-5	-10	-5	-0	-0	—

COMPOUNDED SALES GROWTH

10 Years:: -14%
5 Years:: -34%
3 Years:: -29%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -8%
5 Years:: 30%
3 Years:: 16%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: -56%
5 Years:: -92%
3 Years:: -114%
Last Year:: -38%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	127	145	176	176	176	176	176	176	176	176
	571	454	433	466	176	95	-77	-166	-173	-173
	527	710	585	314	382	440	313	259	156	56
Trade Payables	676	659	573	560	569	531	458	276	199	164
	601	479	509	324	293	284	248	210	139	86
Total Liabilities	2,502	2,448	2,275	1,841	1,596	1,525	1,118	755	497	308
ASSETS	-	-	-	-	-	-	-	-	-	-
	187	164	144	105	44	38	42	11	10	10
Capital Work in Progress	266	209	181	142	44	44	45	7	10	10
	299	298	291	288	282	293	233	143	143	62
	18	8	3	4	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	111	62
Cash & Bank	8	52	11	8	5	4	2	5	1	2
	1,724	1,718	1,645	1,293	1,221	1,147	795	589	223	161
Total Assets	2,502	2,448	2,275	1,841	1,596	1,525	1,118	755	497	308
Total Debt	936	961	736	342	385	440	318	262	173	65
Net Working Capital	93	65	30	4	-95	-159	-229	-143	-155	-72
Contingent Liabilities	836	824	822	577	625	636	500	378	404	306
Book Value per Share	54.99	41.35	34.56	36.43	19.97	15.40	5.62	0.57	0.17	0.15
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-6	51	9	118	-44	-20	22	32	63	39
Cash from Investing	21	-5	13	-3	10	6	23	-4	-3	-2
Cash from Financing	-9	-3	-63	-118	31	12	-47	-26	-64	-36
	6	44	-41	-3	-3	-1	-2	3	-5	1
Free Cash Flow	-6	51	9	118	-44	-20	13	32	60	37
OCF / Net Profit	0.15	-0.37	-0.08	3.69	0.15	0.24	-0.13	-0.35	-7.18	-36.97
Cumulative 5-Year FCF	0	0	0	0	129	115	77	100	41	123

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-3.17	-9.60	-6.52	1.82	-16.52	-4.72	-9.78	-5.20	-0.49	-0.06
Book Value (₹)	54.99	41.35	34.56	36.43	19.97	15.40	5.62	0.57	0.17	0.15
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-1.86	-8.60	-5.79	2.45	-15.95	-4.46	-9.55	-4.92	-0.43	0.00
PROFITABILITY
Operating Margin %	9.85%	9.95%	2.73%	11.55%	-5.12%	-16.05%	-109.26%	-0.23%	-54.01%	-9.41%
Net Margin %	-4.18%	-21.93%	-32.10%	6.33%	-75.51%	-44.26%	-126.64%	-131.55%	-10.13%	-2.17%
ROE %	-5.40%	-21.46%	-19.00%	5.14%	-58.57%	-26.70%	-93.07%	-168.05%	-135.27%	-37.55%
ROCE %	4.63%	2.43%	1.04%	6.36%	-23.77%	-4.74%	-26.54%	-16.51%	-2.51%	3.56%
	-1.79%	-5.62%	-4.86%	1.56%	-16.93%	-5.33%	-13.03%	-9.77%	-1.39%	-0.26%
EFFICIENCY
Debtor Days	318	636	1211	744	812	1591	1678	1790	768	649
Inventory Days	6	7	6	3	0	0	0	0	0	0
Payable Days	6412	4878	8639	0	0	0	0	0	0	0
	-6088	-4234	-7422	746	812	1591	1678	1790	768	649
FINANCIAL HEALTH
Debt to Equity (x)	1.34x	1.60x	1.21x	0.53x	1.09x	1.62x	3.22x	26.29x	59.35x	24.22x
Interest Coverage (x)	0.67x	0.33x	0.12x	1.81x	-4.23x	-0.72x	-7.50x	-8.29x	-2.08x	1.94x
	1.06x	1.04x	1.02x	1.00x	0.92x	0.87x	0.77x	0.80x	0.67x	0.74x
GROWTH
Revenue Growth %	338.66%	-34.00%	-43.66%	41.90%	-24.07%	-51.24%	-27.60%	-48.84%	23.58%	-43.55%
Operating Profit Growth %	214.77%	-33.34%	-84.52%	499.27%	-133.67%	-52.84%	-392.78%	99.89%	0.00%	106.96%
Net Profit Growth %	67.54%	-246.17%	17.54%	127.99%	-1005.56%	71.42%	-107.16%	46.85%	90.48%	87.91%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	90.48%	87.91%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	81.06x	89.21x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-11.53x	122.95x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	28.14	28.14	28.14	28.14	28.14	28.14	28.14	28.14	27.92
	1.64	1.62	1.28	1.03	0.89	0.84	0.81	0.86	0.94
	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	70.21	70.23	70.57	70.83	70.96	71.01	71.04	70.99	71.14

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Updates

2026-09-03 - A2Z Infra Engineering Limited has informed the Exchange regarding 'Intimation Regarding Dispatch Of Physical Communication To Shareholders Regarding Web Link Of Annual Report Who Have Not Registered Their Email Address'.

2026-09-03

Record Date

2026-09-03 - A2Z Infra Engineering Limited has informed the Exchange that Record date for the purpose of Meeting is 21-Sep-2026.

2026-09-03

Shareholders meeting

2026-09-03 - A2Z Infra Engineering Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026

2026-09-01

Copy of Newspaper Publication

2026-09-01 - A2Z Infra Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Appointment

2026-08-31 - A2Z Infra Engineering Limited has informed the Exchange regarding Appointment of Mr. Amit Mittal as Managing Director & CEO of the company w.e.f. January 01, 2027.

2026-08-31

Appointment

2026-08-31 - A2Z Infra Engineering Limited has informed the Exchange regarding Appointment of MRKS & Associates as Other of the company w.e.f. April 01, 2026.

2026-08-14

Copy of Newspaper Publication

2026-08-14 - A2Z Infra Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Copy of Newspaper Publication

2026-08-12 - A2Z Infra Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Outcome of Board Meeting

2026-08-12 - A2Z Infra Engineering Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

Recent coverage and analyst commentary for A2ZINFRA

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Free 5nance Account

Name

3989.15

33.08

548853.62

0.95

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.95

47.74

42940.99

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1410.25

21.19

24083.20

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.18

24.28

23165.60

1.36

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1234.85

35.26

21213.19

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

276.40

19.81

15534.85

1.81

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

969.70

26.16

11277.57

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

IRCON

118.30

21.25

11126.30

1.61

92.03

-43.92

1955.83

9.49

10.15

9.81

KEC

407.85

19.61

10856.97

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

AFCONS

284.95

72.43

10480.02

0.70

303.00

120.52

26710.00

692.49

12.88

9.42

WELENT

741.55

33.58

10264.08

0.40

56.36

-44.29

773.72

-8.44

16.44

19.49

A2ZINFRA

16.49

79.92

292.73

0.00

-0.03

-104.61

68.45

-24.37

9.82

0.89

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-0

-26

-1

-43

-2

-4

-8

-3

-0

OPM %

-0.38%

-130.32%

105.25%

72.40%

-7.11%

-427.88%

-16.65%

380.56%

-12.85%

16.01%

-25.68%

-7.96%

-2.23%

Other Income

Interest

Depreciation

-8

-1

-22

-1

-4

-0

Tax %

0.00%

-1.08%

-0.00%

75.00%

0.00%

-5.03%

0.00%

9.03%

-0.00%

0.00%

-0.00%

-104.77%

-0.00%

Net Profit

-8

-1

-23

-1

-4

-0

-1

-0

Equity Capital

176

178

Reserves

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

961

635

358

507

385

188

136

106

900

587

385

465

424

236

295

100

132

116

Operating Profit

-20

-30

-149

-0

-35

—

OPM %

-5

-16

-109

-0

-41

—

Other Income

Interest

117

120

130

Depreciation

-39

-81

-115

-255

-83

-172

-65

-9

-3

Tax %

-2

-73

-0

-14

-0

-41

-2

148

Net Profit

-40

-139

-115

-291

-83

-172

-92

-9

-1

-2

EPS

-4

-11

-8

-17

-5

-10

-5

-0

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-3

-10

-7

-17

-5

-10

-5

-0

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

127

145

176

571

454

433

466

176

-77

-166

-173

527

710

585

314

382

440

313

259

156

Trade Payables

676

659

573

560

569

531

458

276

199

164

601

479

509

324

293

284

248

210

139

Total Liabilities

2,502

2,448

2,275

1,841

1,596

1,525

1,118

755

497

308

ASSETS

187

164

144

105

Capital Work in Progress

266

209

181

142

299

298

291

288

282

293

233

143

111

Cash & Bank

1,724

1,718

1,645

1,293

1,221

1,147

795

589

223

161

Total Assets

2,502

2,448

2,275

1,841

1,596

1,525

1,118

755

497

308

Total Debt

936

961

736

342

385

440

318

262

173

Net Working Capital

-95

-159

-229

-143

-155

-72

Contingent Liabilities

836

824

822

577

625

636

500

378

404

306

Book Value per Share

54.99

41.35

34.56

36.43

19.97

15.40

5.62

0.57

0.17

0.15

Face Value

10.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-6

118

-44

-20

Cash from Investing

-5

-3

-4

-3

-2

Cash from Financing

-9

-3

-63

-118

-47

-26

-64

-36

-41

-3

-1

-2

-5

Free Cash Flow

-6

118

-44

-20

OCF / Net Profit

0.15

-0.37

-0.08

3.69

0.15

0.24

-0.13

-0.35

-7.18

-36.97

Cumulative 5-Year FCF

129

115

100

123

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

-3.17

-9.60

-6.52

1.82

-16.52

-4.72

-9.78

-5.20

-0.49

-0.06

Book Value (₹)

54.99

41.35

34.56

36.43

19.97

15.40

5.62

0.57

0.17

0.15

Dividend per Share (₹)

0.00

Cash EPS (₹)

-1.86

-8.60

-5.79

2.45

-15.95

-4.46

-9.55

-4.92

-0.43

0.00

PROFITABILITY

Operating Margin %

9.85%

9.95%

2.73%

11.55%

-5.12%

-16.05%

-109.26%

-0.23%

-54.01%

-9.41%

Net Margin %

-4.18%

-21.93%

-32.10%

6.33%

-75.51%

-44.26%

-126.64%

-131.55%

-10.13%

-2.17%

ROE %

-5.40%

-21.46%

-19.00%

5.14%

-58.57%

-26.70%

-93.07%

-168.05%

-135.27%

-37.55%

ROCE %

4.63%

2.43%

1.04%

6.36%

-23.77%

-4.74%

-26.54%

-16.51%

-2.51%

3.56%

-1.79%

-5.62%

-4.86%

1.56%

-16.93%

-5.33%

-13.03%

-9.77%

-1.39%

-0.26%

EFFICIENCY

Debtor Days

318

636

1211

744

812

1591

1678

1790

768

649

Inventory Days

Payable Days

6412

4878

8639

-6088

-4234

-7422

746

812

1591

1678

1790

768

649

FINANCIAL HEALTH

Debt to Equity (x)

1.34x

1.60x

1.21x

0.53x

1.09x

1.62x

3.22x

26.29x

59.35x

24.22x

Interest Coverage (x)

0.67x

0.33x

0.12x

1.81x

-4.23x

-0.72x

-7.50x

-8.29x

-2.08x

1.94x

1.06x

1.04x

1.02x

1.00x

0.92x

0.87x

0.77x

0.80x

0.67x

0.74x

GROWTH

Revenue Growth %

338.66%

-34.00%

-43.66%

41.90%

-24.07%

-51.24%

-27.60%

-48.84%

23.58%

-43.55%

Operating Profit Growth %

214.77%

-33.34%

-84.52%

499.27%

-133.67%

-52.84%

-392.78%

99.89%

0.00%

106.96%

Net Profit Growth %

67.54%

-246.17%

17.54%

127.99%

-1005.56%

71.42%

-107.16%

46.85%

90.48%

87.91%

0.00%

90.48%

87.91%

VALUATION

P/E (x)

0.00x

P/B (x)

0.00x

81.06x

89.21x

Dividend Yield %

0.00%

0.00x

-11.53x

122.95x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

28.14

27.92

1.64

1.62

1.28

1.03

0.89

0.84

0.81

0.86

0.94

0.01

0.00

Government

0.00

70.21

70.23

70.57

70.83

70.96

71.01

71.04

70.99

71.14

A2Z Infra Engineering Ltd.

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Quarterly Results

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A2Z Infra Engineering Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI