Dilip Buildcon Ltd.

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dilipbuildcon.comBSE: 540047NSE: DBL

Market Cap₹ 6,375 Cr.

Current Price

High / Low₹ 585 / 382

Stock P/E5.4

Book Value₹ 428

Price to Book0.92

Dividend Yield0.25 %

ROCE19.4 %

ROE23.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • EPC Projects: 68.3% • Annuity Projects & Others: 31.7%

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 delivered good profit growth of 27.3% CAGR over last 5 years
Operating margins have improved to 19.7% from 9.6%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.99x)
Stock looks reasonably valued - P/E of 5.4 is below its historical median
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (35.3% of PBT)
Promoter holding has decreased over last 2 years: -7.0pp
Company's sales have been declining over the last five years
Effective tax rate is unusually low at 4.3% - earnings may be flattered
Working capital days have increased from 102 to 138 days

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

Peer comparison

ConstructionRealtyConstruction - Real Estate

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	DLF	656.40	36.55	162479.46	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1165.45	28.23	116454.47	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1897.90	53.03	67883.68	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1541.85	58.31	66412.14	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1796.30	24.84	65313.87	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1860.00	35.01	56028.13	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	613.40	38.15	22074.85	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	662.00	31.08	21598.36	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1341.65	113.30	14985.65	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1228.35	56.96	13137.67	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	785.75	10.59	11054.40	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	DBL	392.45	5.37	6375.15	0.25	128.01	-52.85	2377.78	-9.26	19.44	18.05

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	2,921	2,849	2,877	3,366	3,134	2,461	2,590	3,096	2,620	1,926	2,138	2,300	2,378
	2,527	2,508	2,520	3,036	2,656	1,962	2,113	2,435	2,100	1,455	1,756	1,908	2,268
Operating Profit	394	341	357	330	478	500	477	661	521	471	382	392	110
OPM %	13.48%	11.96%	12.41%	9.80%	15.25%	20.30%	18.40%	21.35%	19.86%	24.45%	17.87%	17.06%	4.63%
	24	135	155	149	20	217	138	86	386	191	755	65	47
Interest	256	261	244	252	297	322	320	309	498	320	349	236	245
Depreciation	97	96	95	90	88	86	86	87	78	77	75	68	74
Profit before Tax	64	118	173	137	113	309	208	350	331	265	713	153	157
Tax %	80.71%	38.15%	34.74%	98.05%	-23.18%	13.94%	24.36%	21.02%	17.86%	19.14%	-10.68%	19.11%	18.60%
Net Profit	0	0	0	0	140	266	158	277	271	214	789	124	128
	0.84	5.01	7.72	0.18	9.56	18.18	10.78	18.92	17.06	14.64	48.57	7.62	7.88

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
	5,319	7,937	9,416	9,725	10,168	9,566	10,644	12,012	11,317	8,984	8,741
	4,159	6,466	7,651	7,657	8,040	8,794	9,873	10,665	9,166	7,218	7,386
Operating Profit	1,160	1,472	1,765	2,068	2,129	773	770	1,347	2,151	1,766	1,355
OPM %	21.81%	18.54%	18.74%	21.26%	20.93%	8.08%	7.24%	11.21%	19.00%	19.65%	15.50%
	12	41	46	108	74	-19	633	537	425	1,396	1,058
Interest	555	590	872	1,136	1,174	1,057	901	1,013	1,249	1,403	1,150
Depreciation	245	292	362	470	443	400	398	379	346	298	294
Profit before Tax	372	631	577	569	586	-704	103	492	981	1,461	1,288
Tax %	3.88%	9.69%	5.71%	28.86%	28.67%	21.87%	101.35%	59.12%	14.39%	4.30%	2.57%
Net Profit	358	570	544	405	418	-550	-1	201	840	1,398	1,255
EPS	27.56	42.23	40.03	29.64	31.92	-37.77	-0.10	13.27	43.83	80.17	—
Dividend Payout %	3.82%	2.37%	2.50%	3.80%	5.02%	-0.28%	3.09%	7.54%	2.28%	1.25%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: -2%
3 Years:: -5%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 37%
3 Years:: 202%

STOCK PRICE CAGR

10 Years:: 6%
5 Years:: -4%
3 Years:: 8%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 6%
3 Years:: 16%
Last Year:: 24%

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
Equity Capital	137	137	137	137	137	146	146	146	146	162
Minority Interest	0	14	29	162	373	-1	-3	5	191	132
	1,582	2,139	2,669	3,005	3,263	3,404	3,855	4,090	4,785	6,667
	4,434	5,243	8,155	9,871	11,107	9,306	7,001	6,837	9,206	7,972
Trade Payables	889	1,522	1,741	1,654	2,077	2,266	3,057	2,891	2,809	2,572
	978	1,520	1,708	1,888	1,373	1,030	1,308	2,667	2,519	1,154
Total Liabilities	8,019	10,575	14,439	16,717	18,331	16,151	15,365	16,636	19,655	18,659
	1,967	2,044	3,031	2,908	2,730	1,789	1,529	1,531	1,427	1,421
Capital Work in Progress	106	848	2,736	2,840	3,893	3,385	2,658	2,832	3,689	3,362
	0	0	68	9	37	0	964	857	832	1,557
	1,664	2,026	2,504	2,645	3,049	3,439	3,368	3,480	3,486	3,441
	0	0	0	0	0	0	0	1,279	1,412	1,654
Cash & Bank	163	295	521	789	809	583	426	736	1,158	328
	4,119	5,362	5,579	7,527	7,814	6,955	6,420	5,920	7,651	6,897
Total Assets	8,019	10,575	14,439	16,717	18,331	16,151	15,365	16,636	19,655	18,659

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
	719	1,453	1,302	246	1,280	1,804	2,683	1,080	131	1,204
Cash from Investing	-1,007	-1,518	-2,512	-278	-1,322	445	26	-111	-731	468
Cash from Financing	440	350	1,569	502	261	-2,295	-3,028	-431	1,022	-2,503
	47	132	227	267	20	-226	-157	539	422	-831

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

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.15	70.15	70.15	70.15	63.14	63.14	63.14	63.14	63.14
	2.80	3.07	3.18	3.13	2.76	2.91	2.47	1.97	1.99
	9.17	9.51	9.48	6.54	5.88	5.10	5.20	5.07	5.09
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	17.88	17.27	17.19	20.17	28.21	28.85	29.19	29.82	29.78

Documents

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

2026-09-10

Press Release

2026-09-10 - Dilip Buildcon Limited has informed the Exchange regarding a press release dated September 10, 2026, titled "Dilip Buildcon sells stake in Under-Construction Power Transmission Project to Alpha Alternatives".

2026-09-09

Bagging/Receiving of orders/contracts

2026-09-09 - Dilip Buildcon Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Dilip Buildcon Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-29

Shareholders meeting

2026-08-29 - Dilip Buildcon Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Dilip Buildcon Limited has informed the Exchange about Schedule of meet

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Dilip Buildcon Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Dilip Buildcon Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Dilip Buildcon Limited has informed the Exchange about Transcript

2026-08-12

Record Date

2026-08-12 - Dilip Buildcon Limited has informed the Exchange that Record date for the purpose of Dividend is 15-Sep-2026.

News

Recent coverage and analyst commentary for DBL

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