Afcons Infrastructure Ltd.

•

afcons.comBSE: 544280NSE: AFCONS

Market Cap₹ 9,340 Cr.

Current Price

High / Low₹ 479 / 249

Stock P/E64.5

Book Value₹ 148

Price to Book1.84

Dividend Yield0.79 %

ROCE12.9 %

ROE4.7 %

Face Value₹ 10

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ABOUT

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

Company has consistently been profitable over the last 5 years
Company has a consistent dividend-paying track record

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (109.6% of PBT)
Recent results are weak - TTM profit is down 71.1% versus prior year
Promoter holding has decreased over last 2 years: -36.1pp
Receivables are growing faster than sales - a possible quality concern
Interest coverage is weak at 1.6x - earnings barely cover interest

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

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	30.30	-77.95	2671.00	-20.75	12.88	9.42
12.	NCC	141.00	12.65	8852.64	1.56	228.90	11.85	5811.83	12.22	16.77	9.43

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,334	3,126	3,636	3,154	2,960	3,211	3,223	3,370	2,988	2,976	2,614	2,671
	3,002	2,751	3,282	2,801	2,615	2,847	2,930	2,935	2,660	2,565	2,571	2,676
Operating Profit	332	374	355	353	344	364	294	435	329	410	43	-5
OPM %	9.95%	11.98%	9.76%	11.21%	11.64%	11.35%	9.11%	12.92%	11.00%	13.79%	1.64%	-0.19%
	100	56	173	59	130	121	164	49	113	-27	163	56
Interest	157	129	176	147	164	169	150	162	170	167	175	173
Depreciation	114	124	146	130	120	117	124	139	122	93	100	84
Profit before Tax	160	178	207	135	191	200	184	183	149	123	-69	51
Tax %	34.84%	38.53%	29.89%	32.38%	28.98%	25.51%	39.73%	25.07%	29.59%	21.32%	-28.58%	40.11%
Net Profit	0	0	0	0	135	149	111	137	105	97	-89	30
	3.06	3.22	4.25	2.69	3.97	4.05	3.02	3.74	2.85	2.63	-2.41	0.82

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,268	12,548	11,948	11,249
	5,728	5,937	8,023	9,124	8,513	10,083	11,327	11,902	11,211	10,781	10,472
Operating Profit	577	614	704	810	862	936	1,311	1,365	1,337	1,167	777
OPM %	9.15%	9.38%	8.06%	8.16%	9.20%	8.50%	10.37%	10.29%	10.66%	9.77%	6.90%
	101	137	149	196	146	251	207	379	493	347	304
Interest	302	306	285	391	468	425	447	577	629	674	685
Depreciation	169	201	249	240	250	355	472	495	491	454	399
Profit before Tax	207	244	319	376	290	407	599	673	710	387	254
Tax %	26.18%	32.78%	26.57%	34.06%	41.52%	12.04%	31.42%	33.13%	31.44%	35.17%	43.45%
Net Profit	153	164	234	248	170	358	411	450	487	251	144
EPS	4.50	4.82	6.88	7.27	4.99	10.49	12.06	13.20	13.24	6.84	—
Dividend Payout %	14.00%	14.51%	10.49%	10.26%	15.09%	7.07%	7.01%	18.94%	18.89%	29.25%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 5%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 9%
3 Years:: -15%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -44%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 13%
3 Years:: 10%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	72	72	72	72	72	72	72	341	368	368
Minority Interest	-0	-10	-16	-13	-11	-9	2	2	2	1
	1,101	1,269	1,501	1,721	1,868	2,190	2,654	3,255	4,893	5,061
	2,634	2,694	3,610	4,172	3,597	3,839	3,541	4,258	4,821	5,968
Trade Payables	1,487	1,843	2,496	3,361	2,976	2,697	3,508	4,326	3,541	4,043
	1,937	2,437	2,931	4,005	4,225	4,538	4,904	4,414	3,974	4,233
Total Liabilities	7,230	8,306	10,594	13,317	12,728	13,327	14,681	16,595	17,598	19,672
	1,632	1,601	1,691	1,938	2,003	2,318	2,498	2,784	2,738	2,499
Capital Work in Progress	21	22	31	18	146	18	184	43	33	901
	100	3	3	0	0	1	1	1	1	1
	559	558	857	1,067	938	1,270	1,586	1,627	1,010	1,017
	0	0	0	0	0	0	0	3,121	2,779	3,432
Cash & Bank	189	154	343	639	711	526	377	666	771	886
	4,730	5,968	7,670	9,656	8,930	9,194	10,036	8,354	10,266	10,938
Total Assets	7,230	8,306	10,594	13,317	12,728	13,327	14,681	16,595	17,598	19,672

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	557	769	878	1,172	977	727	1,315	707	-132	-127
Cash from Investing	-137	-70	-216	-390	-278	-251	-870	-859	-131	-402
Cash from Financing	-354	-678	-353	-455	-564	-521	-483	246	290	473
	18	-34	191	205	88	-161	-137	94	26	-56

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Mar 2022	Mar 2023	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	86.32	86.32	50.17	50.17	50.17	50.17	50.17	50.17	50.17
	0.00	0.00	18.00	18.21	15.80	12.81	12.81	12.19	12.15
	0.00	0.00	11.12	12.07	14.53	17.94	19.60	20.96	20.07
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	13.68	13.68	20.72	19.55	19.49	19.08	17.42	16.69	17.62

Documents

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

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - Afcons Infrastructure Limited has informed the Exchange about, Investors Group/Analyst meet Meeting

2026-08-24

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-24 - Afcons Infrastructure Limited has informed the Exchange about the receipt of Arbitration Award in favour of the Company.

2026-08-20

Credit Rating

2026-08-20 - Afcons Infrastructure Limited has informed the Exchange about Credit Rating

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Afcons Infrastructure Limited has informed the Exchange about Transcript

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Afcons Infrastructure Limited has informed the Exchange about the Audio recording link of Earning Conference Call on Un-Audited Financial Results for Quarter ended June 30, 2026

2026-08-08

Copy of Newspaper Publication

2026-08-08 - Afcons Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication w.r.t containing publication of unaudited Financial Result for the Quarter ended June 30, 2026

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Afcons Infrastructure Limited has informed the Exchange about Investor Presentation on the Unaudited Financial Results for the Quarter ended June 30, 2026

2026-08-07

Press Release

2026-08-07 - Afcons Infrastructure Limited has informed the Exchange regarding a press release dated August 07, 2026, titled " Unaudited Financial Results for the Quarter ended June 30, 2026.".

2026-08-07

Outcome of Board Meeting

2026-08-07 - Afcons Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

Recent coverage and analyst commentary for AFCONS

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Afcons Infrastructure Ltd.

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Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

30.30

-77.95

2671.00

-20.75

12.88

9.42

NCC

141.00

12.65

8852.64

1.56

228.90

11.85

5811.83

12.22

16.77

9.43

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

3,334

3,126

3,636

3,154

2,960

3,211

3,223

3,370

2,988

2,976

2,614

2,671

3,002

2,751

3,282

2,801

2,615

2,847

2,930

2,935

2,660

2,565

2,571

2,676

Operating Profit

332

374

355

353

344

364

294

435

329

410

-5

OPM %

9.95%

11.98%

9.76%

11.21%

11.64%

11.35%

9.11%

12.92%

11.00%

13.79%

1.64%

-0.19%

100

173

130

121

164

113

-27

163

Interest

157

129

176

147

164

169

150

162

170

167

175

173

Depreciation

114

124

146

130

120

117

124

139

122

100

Profit before Tax

160

178

207

135

191

200

184

183

149

123

-69

Tax %

34.84%

38.53%

29.89%

32.38%

28.98%

25.51%

39.73%

25.07%

29.59%

21.32%

-28.58%

40.11%

Net Profit

135

149

111

137

105

-89

3.06

3.22

4.25

2.69

3.97

4.05

3.02

3.74

2.85

2.63

-2.41

0.82

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

6,305

6,551

8,727

9,934

9,376

11,019

12,637

13,268

12,548

11,948

11,249

5,728

5,937

8,023

9,124

8,513

10,083

11,327

11,902

11,211

10,781

10,472

Operating Profit

577

614

704

810

862

936

1,311

1,365

1,337

1,167

777

OPM %

9.15%

9.38%

8.06%

8.16%

9.20%

8.50%

10.37%

10.29%

10.66%

9.77%

6.90%

101

137

149

196

146

251

207

379

493

347

304

Interest

302

306

285

391

468

425

447

577

629

674

685

Depreciation

169

201

249

240

250

355

472

495

491

454

399

Profit before Tax

207

244

319

376

290

407

599

673

710

387

254

Tax %

26.18%

32.78%

26.57%

34.06%

41.52%

12.04%

31.42%

33.13%

31.44%

35.17%

43.45%

Net Profit

153

164

234

248

170

358

411

450

487

251

144

EPS

4.50

4.82

6.88

7.27

4.99

10.49

12.06

13.20

13.24

6.84

—

Dividend Payout %

14.00%

14.51%

10.49%

10.26%

15.09%

7.07%

7.01%

18.94%

18.89%

29.25%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

341

368

Minority Interest

-0

-10

-16

-13

-11

-9

1,101

1,269

1,501

1,721

1,868

2,190

2,654

3,255

4,893

5,061

2,634

2,694

3,610

4,172

3,597

3,839

3,541

4,258

4,821

5,968

Trade Payables

1,487

1,843

2,496

3,361

2,976

2,697

3,508

4,326

3,541

4,043

1,937

2,437

2,931

4,005

4,225

4,538

4,904

4,414

3,974

4,233

Total Liabilities

7,230

8,306

10,594

13,317

12,728

13,327

14,681

16,595

17,598

19,672

1,632

1,601

1,691

1,938

2,003

2,318

2,498

2,784

2,738

2,499

Capital Work in Progress

146

184

901

100

559

558

857

1,067

938

1,270

1,586

1,627

1,010

1,017

3,121

2,779

3,432

Cash & Bank

189

154

343

639

711

526

377

666

771

886

4,730

5,968

7,670

9,656

8,930

9,194

10,036

8,354

10,266

10,938

Total Assets

7,230

8,306

10,594

13,317

12,728

13,327

14,681

16,595

17,598

19,672

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

557

769

878

1,172

977

727

1,315

707

-132

-127

Cash from Investing

-137

-70

-216

-390

-278

-251

-870

-859

-131

-402

Cash from Financing

-354

-678

-353

-455

-564

-521

-483

246

290

473

-34

191

205

-161

-137

-56

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mar 2022

Mar 2023

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

86.32

50.17

0.00

18.00

18.21

15.80

12.81

12.19

12.15

0.00

11.12

12.07

14.53

17.94

19.60

20.96

20.07

Government

0.00

13.68

20.72

19.55

19.49

19.08

17.42

16.69

17.62

Afcons Infrastructure Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Afcons Infrastructure 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