Afcons Infrastructure Ltd.

•

afcons.comBSE: 544280NSE: AFCONS

Market Cap₹ 10,088 Cr.

Current Price

High / Low₹ 479 / 259

Stock P/E52.8

Book Value₹ 136

Price to Book2.00

Dividend Yield0.73 %

ROCE14.1 %

ROE5.9 %

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 a healthy return on capital (ROCE) of 20.7%
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 (98.7% of PBT)
Recent results are weak - TTM profit is down 65.7% 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	3925.00	32.55	540027.44	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	207.00	47.98	43159.92	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1408.65	21.17	24055.87	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.07	24.14	23032.75	1.36	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1268.60	36.23	21792.97	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	273.15	19.58	15352.19	1.83	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	983.20	26.53	11434.57	0.71	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.45	35.43	10830.19	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	IRCON	115.10	20.67	10825.34	1.65	92.03	-43.92	1955.83	9.49	10.15	9.81
10.	KEC	392.85	18.89	10457.67	1.40	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	AFCONS	274.30	69.72	10088.33	0.73	30.30	-77.95	2671.00	-20.75	12.88	9.42
12.	NCC	145.55	13.06	9138.31	1.51	228.90	11.85	5811.83	12.22	16.77	9.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,205	3,047	3,557	3,130	2,947	3,205	3,219	3,363	2,988	2,974	2,614	2,671
	2,878	2,662	3,214	2,762	2,599	2,821	2,858	2,930	2,650	2,551	2,550	2,670
Operating Profit	327	385	344	368	348	384	360	434	338	423	63	1
OPM %	10.21%	12.64%	9.66%	11.75%	11.80%	11.98%	11.19%	12.89%	11.32%	14.21%	2.42%	0.03%
	94	60	168	56	131	119	161	48	109	-31	167	56
Interest	158	128	175	147	163	169	149	162	170	167	175	173
Depreciation	113	123	145	130	119	117	124	138	122	93	99	83
Profit before Tax	150	194	191	147	196	218	248	182	156	131	-43	57
Tax %	37.12%	35.48%	32.26%	29.74%	28.22%	23.41%	29.43%	25.30%	28.26%	19.95%	-45.32%	35.49%
Net Profit	94	125	130	104	140	167	175	136	112	105	-63	37
	2.77	3.67	3.80	3.04	4.12	4.53	4.77	3.69	3.05	2.86	-1.71	1.00

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,740	5,851	7,732	9,255	8,931	10,499	12,467	12,907	12,500	11,938	11,246
	5,263	5,292	7,214	8,508	8,190	9,735	11,148	11,553	11,059	10,731	10,421
Operating Profit	476	558	518	747	741	764	1,319	1,354	1,441	1,207	825
OPM %	8.30%	9.54%	6.70%	8.07%	8.30%	7.27%	10.58%	10.49%	11.53%	10.11%	7.33%
	103	148	203	251	223	294	217	378	485	344	302
Interest	299	302	277	386	466	423	444	577	628	673	684
Depreciation	166	195	235	234	245	351	469	491	489	452	397
Profit before Tax	114	209	210	378	253	283	623	665	809	426	301
Tax %	34.02%	38.31%	40.41%	36.07%	50.27%	8.39%	34.24%	33.51%	27.58%	31.93%	36.60%
Net Profit	75	129	125	242	126	259	410	442	586	290	191
EPS	2.20	3.78	3.67	7.10	3.70	7.61	12.02	12.97	15.94	7.88	—
Dividend Payout %	28.76%	19.56%	20.15%	10.41%	20.01%	9.72%	7.03%	19.27%	15.69%	25.37%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 6%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 13%
5 Years:: 18%
3 Years:: -11%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -42%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 15%
3 Years:: 12%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	982	1,088	1,211	1,394	1,498	1,717	2,147	2,735	4,459	4,613
	2,629	2,678	3,549	4,155	3,599	3,842	3,555	4,273	4,836	5,986
Trade Payables	1,341	1,568	2,227	3,111	2,778	2,605	3,441	4,246	3,562	4,071
	1,907	2,303	2,835	3,921	4,135	4,517	4,803	4,378	3,929	4,185
Total Liabilities	6,930	7,709	9,895	12,652	12,082	12,753	14,018	15,973	17,154	19,222
	1,611	1,566	1,659	1,912	1,985	2,305	2,447	2,770	2,725	2,487
Capital Work in Progress	21	22	31	18	146	18	184	43	33	901
	109	12	12	12	12	12	12	12	20	20
	515	498	818	1,020	887	1,247	1,571	1,601	988	993
	0	0	0	0	0	0	0	2,954	2,698	3,311
Cash & Bank	41	83	229	402	454	278	162	525	637	751
	4,632	5,528	7,147	9,289	8,599	8,894	9,642	8,068	10,052	10,759
Total Assets	6,930	7,709	9,895	12,652	12,082	12,753	14,018	15,973	17,154	19,222

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	521	825	803	946	858	686	1,297	813	-117	-135
Cash from Investing	-123	-40	-150	-334	-199	-207	-830	-890	-140	-394
Cash from Financing	-354	-685	-390	-406	-543	-516	-471	246	292	476
	-5	44	144	84	68	-153	-103	168	35	-52

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

3925.00

32.55

540027.44

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

207.00

47.98

43159.92

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1408.65

21.17

24055.87

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.07

24.14

23032.75

1.36

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1268.60

36.23

21792.97

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

273.15

19.58

15352.19

1.83

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

983.20

26.53

11434.57

0.71

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.45

35.43

10830.19

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

IRCON

115.10

20.67

10825.34

1.65

92.03

-43.92

1955.83

9.49

10.15

9.81

KEC

392.85

18.89

10457.67

1.40

72.62

-41.72

5023.54

0.01

16.35

5.79

AFCONS

274.30

69.72

10088.33

0.73

30.30

-77.95

2671.00

-20.75

12.88

9.42

NCC

145.55

13.06

9138.31

1.51

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

3,205

3,047

3,557

3,130

2,947

3,205

3,219

3,363

2,988

2,974

2,614

2,671

2,878

2,662

3,214

2,762

2,599

2,821

2,858

2,930

2,650

2,551

2,550

2,670

Operating Profit

327

385

344

368

348

384

360

434

338

423

OPM %

10.21%

12.64%

9.66%

11.75%

11.80%

11.98%

11.19%

12.89%

11.32%

14.21%

2.42%

0.03%

168

131

119

161

109

-31

167

Interest

158

128

175

147

163

169

149

162

170

167

175

173

Depreciation

113

123

145

130

119

117

124

138

122

Profit before Tax

150

194

191

147

196

218

248

182

156

131

-43

Tax %

37.12%

35.48%

32.26%

29.74%

28.22%

23.41%

29.43%

25.30%

28.26%

19.95%

-45.32%

35.49%

Net Profit

125

130

104

140

167

175

136

112

105

-63

2.77

3.67

3.80

3.04

4.12

4.53

4.77

3.69

3.05

2.86

-1.71

1.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,740

5,851

7,732

9,255

8,931

10,499

12,467

12,907

12,500

11,938

11,246

5,263

5,292

7,214

8,508

8,190

9,735

11,148

11,553

11,059

10,731

10,421

Operating Profit

476

558

518

747

741

764

1,319

1,354

1,441

1,207

825

OPM %

8.30%

9.54%

6.70%

8.07%

8.30%

7.27%

10.58%

10.49%

11.53%

10.11%

7.33%

103

148

203

251

223

294

217

378

485

344

302

Interest

299

302

277

386

466

423

444

577

628

673

684

Depreciation

166

195

235

234

245

351

469

491

489

452

397

Profit before Tax

114

209

210

378

253

283

623

665

809

426

301

Tax %

34.02%

38.31%

40.41%

36.07%

50.27%

8.39%

34.24%

33.51%

27.58%

31.93%

36.60%

Net Profit

129

125

242

126

259

410

442

586

290

191

EPS

2.20

3.78

3.67

7.10

3.70

7.61

12.02

12.97

15.94

7.88

—

Dividend Payout %

28.76%

19.56%

20.15%

10.41%

20.01%

9.72%

7.03%

19.27%

15.69%

25.37%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

341

368

982

1,088

1,211

1,394

1,498

1,717

2,147

2,735

4,459

4,613

2,629

2,678

3,549

4,155

3,599

3,842

3,555

4,273

4,836

5,986

Trade Payables

1,341

1,568

2,227

3,111

2,778

2,605

3,441

4,246

3,562

4,071

1,907

2,303

2,835

3,921

4,135

4,517

4,803

4,378

3,929

4,185

Total Liabilities

6,930

7,709

9,895

12,652

12,082

12,753

14,018

15,973

17,154

19,222

1,611

1,566

1,659

1,912

1,985

2,305

2,447

2,770

2,725

2,487

Capital Work in Progress

146

184

901

109

515

498

818

1,020

887

1,247

1,571

1,601

988

993

2,954

2,698

3,311

Cash & Bank

229

402

454

278

162

525

637

751

4,632

5,528

7,147

9,289

8,599

8,894

9,642

8,068

10,052

10,759

Total Assets

6,930

7,709

9,895

12,652

12,082

12,753

14,018

15,973

17,154

19,222

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

521

825

803

946

858

686

1,297

813

-117

-135

Cash from Investing

-123

-40

-150

-334

-199

-207

-830

-890

-140

-394

Cash from Financing

-354

-685

-390

-406

-543

-516

-471

246

292

476

-5

144

-153

-103

168

-52

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