Kaushalya Infrastructure Development Corporation Ltd.

•

kaushalya.netBSE: 532925NSE: KAUSHALYA

Market Cap₹ 31 Cr.

Current Price

High / Low₹ 1,842 / 750

Stock P/E0.0

Book Value₹ 1,452

Price to Book0.62

Dividend Yield0.00 %

ROCE-1.1 %

ROE-1.5 %

Face Value₹ 1,000

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ABOUT

KEY POINTS

Revenue Breakup Mar 2014 • Construction: 99.3% • Hotel: 0.7%

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

Operating margins have improved to -649.7% from -1158.3%
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 139.8% versus prior year
Company has a low return on capital employed of 5.9%
Company has a low return on equity of 5.9% over last 3 years
Interest coverage is weak at -1.0x - earnings barely cover interest
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.33x)

* 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	30.30	-77.95	2671.00	-20.75	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.	KAUSHALYA	884.95	0.00	30.65	0.00	-0.45	-209.71	0.01	-35.00	6.41	-2515.38

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
	0	0	0	0	0	0	0	0	0	0	1	0	0
	1	1	0	0	0	0	0	0	1	0	0	0	0
Operating Profit	-1	-1	-0	-0	-0	-0	-0	-0	-0	-0	1	-0	-0
OPM %	-2500.00%	-3433.33%	-475.00%	-680.00%	-1650.00%	-450.00%	-350.00%	-550.00%	-2450.00%	-533.33%	82.28%	-385.71%	-1808.33%
Other Income	0	0	0	16	0	0	0	0	1	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	-1	-1	-0	16	-0	-0	-0	-0	0	-0	0	-0	-0
Tax %	-10.87%	94.21%	25.00%	23.68%	-21.62%	-29.73%	-31.25%	253.85%	25.00%	23.53%	25.53%	25.00%	-24.43%
Net Profit	-1	-0	-0	12	-0	-0	-0	1	0	-0	0	-0	-0
	-0	-0	-0	352	-13	-14	-12	17	8	-7	10	-10	-1
Equity Capital	35	35	35	35	35	35	35	35	35	35	35	35	35
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
	1	1	1	0	0	2	0	0	0	0	1
	56	5	1	9	6	3	2	2	2	1	1
Operating Profit	-54	-4	-1	18	-5	5	-2	-1	14	-1	—
OPM %	-7,887	-496	-81	7,804	-2,596	213	-1,158	-720	9,822	-502	—
Other Income	1	1	0	26	1	5	0	1	16	0	0
Interest	-0	0	0	1	1	1	1	1	1	1	1
Depreciation	0	0	0	0	0	0	0	0	0	0	0
	-55	-4	-1	17	-6	4	0	-2	13	-1	-1
Tax %	0	1	12	-36	6	100	86	-8	20	49	-4
Net Profit	-55	-4	-1	23	-5	0	0	-2	11	-1	-1
EPS	-16	-1	-0	6	-2	0	0	-1	313	-22	—
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	-1,581	-116	-28	650	-158	0	2	-51	313	-22	—

COMPOUNDED SALES GROWTH

10 Years:: -32%
5 Years:: -6%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 5%
5 Years:: 26%
3 Years:: 20%
1 Year:: -48%

RETURN ON EQUITY

10 Years:: -5%
5 Years:: 4%
3 Years:: 6%
Last Year:: -1%

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	35	35	35	35	35	35	35	35	35	35
	-4	-8	-9	13	6	6	6	5	17	16
	61	63	63	39	40	35	35	35	13	13
Trade Payables	12	12	12	11	11	1	1	1	0	0
	19	19	5	-1	-1	4	-4	-4	-1	-1
Total Liabilities	123	120	106	97	89	79	72	71	63	63
ASSETS	-	-	-	-	-	-	-	-	-	-
	4	3	3	2	2	1	1	1	1	1
	64	64	61	61	54	54	51	50	46	46
Inventories	1	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	3	3
Cash & Bank	1	0	0	1	0	0	0	0	1	1
	54	52	41	32	32	23	20	20	13	13
Total Assets	123	120	106	97	89	79	72	71	63	63
Total Debt	61	63	63	39	40	35	35	35	13	13
Net Working Capital	-51	-56	-63	-30	-33	-31	-32	-32	-9	-11
Contingent Liabilities	8	27	27	20	20	32	34	34	29	29
Book Value per Share	8.06	7.60	7.31	13.82	12.24	12.24	12.26	11.74	1487.14	1465.57
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	1000.00	1000.00

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
	-2	-2	-1	-1	-1	5	-3	-0	3	0
Cash from Investing	1	1	-0	-0	1	0	4	1	4	-0
Cash from Financing	-0	2	1	1	0	-5	-1	-1	-7	-0
	-0	0	0	0	-0	-0	0	-0	0	-0
Free Cash Flow	-2	-2	-1	-1	-1	5	-3	-0	3	0
OCF / Net Profit	0.03	0.56	0.65	-0.04	0.12	1883.89	-46.37	0.05	0.26	-0.11
Cumulative 5-Year FCF	0	0	0	0	-6	1	0	1	4	5

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 (₹)	-15.81	-1.16	-0.28	6.50	-1.58	0.00	0.02	-0.51	312.69	-21.56
Book Value (₹)	8.06	7.60	7.31	13.82	12.24	12.24	12.26	11.74	1487.14	1465.57
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 (₹)	-1568.33	-103.23	-16.09	663.06	-145.78	11.16	9.86	-47.39	315.09	-19.90
PROFITABILITY
Operating Margin %	-7887.41%	-495.51%	-80.91%	7803.69%	-2595.79%	213.47%	-1158.25%	-719.94%	-1612.61%	-649.73%
Net Margin %	-7939.63%	-555.50%	-148.86%	0.00%	-3030.36%	0.12%	46.04%	-1428.54%	7504.23%	-566.19%
ROE %	-99.02%	-14.78%	-3.82%	61.56%	-12.12%	0.01%	0.15%	-4.28%	23.50%	-1.46%
ROCE %	-46.99%	-4.50%	-1.09%	19.49%	-6.06%	5.61%	1.35%	-1.35%	20.23%	-1.13%
	-36.27%	-3.30%	-0.87%	22.18%	-5.88%	0.00%	0.08%	-2.47%	16.12%	-1.19%
EFFICIENCY
Debtor Days	0	0	0	0	0	1483	0	8446	6879	7031
Inventory Days	407	261	267	773	942	41	120	0	0	0
Payable Days	2626	0	0	0	0	3927	3405	5148	0	4411
	-2218	261	267	773	942	-2402	-3285	3297	6879	2619
FINANCIAL HEALTH
Debt to Equity (x)	2.20x	2.38x	2.51x	0.81x	0.93x	0.82x	0.82x	0.85x	0.24x	0.26x
Interest Coverage (x)	1617.12x	-69.35x	-6.20x	29.51x	-7.34x	5.90x	1.79x	-1.70x	22.90x	-0.99x
	0.44x	0.39x	0.21x	0.45x	0.40x	0.20x	0.10x	0.10x	0.27x	0.25x
GROWTH
Revenue Growth %	-88.92%	4.62%	-8.23%	-66.06%	-19.67%	1159.50%	-93.95%	-9.53%	16.00%	-8.59%
Operating Profit Growth %	0.00%	93.43%	85.02%	3373.27%	-126.72%	203.58%	-132.82%	43.76%	1682.46%	-104.68%
Net Profit Growth %	-652.27%	92.68%	75.41%	2385.55%	-124.28%	100.05%	2160.71%	-2907.42%	709.34%	-106.90%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-106.90%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.89x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.40x	0.62x
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	2.29x	-66.20x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.42	51.42	51.42	51.42	51.42	51.42	51.42	51.42	51.42
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	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
	48.58	48.58	48.58	48.58	48.58	48.58	48.58	48.58	48.58

Documents

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

2026-09-03

Shareholders meeting

2026-09-03 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange regarding Notice of undefined to be held on September 28, 2026

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Copy of Newspaper Publication

2026-08-17 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Record Date

2026-08-14 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange that Record date for the purpose of Meeting is 21-Sep-2026.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Kaushalya Infrastructure Development Corporation Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-15 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-29

Disclosure under SEBI Takeover Regulations

2026-06-29 - Karan Mehra has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-05-28

Copy of Newspaper Publication

2026-05-28 - Kaushalya Infrastructure Development Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-05-27

Outcome of Board Meeting

2026-05-27 - Kaushalya Infrastructure Development Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

News

Recent coverage and analyst commentary for KAUSHALYA

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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

30.30

-77.95

2671.00

-20.75

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

KAUSHALYA

884.95

0.00

30.65

0.00

-0.45

-209.71

0.01

-35.00

6.41

-2515.38

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

-1

-0

OPM %

-2500.00%

-3433.33%

-475.00%

-680.00%

-1650.00%

-450.00%

-350.00%

-550.00%

-2450.00%

-533.33%

82.28%

-385.71%

-1808.33%

Other Income

Interest

Depreciation

-1

-0

Tax %

-10.87%

94.21%

25.00%

23.68%

-21.62%

-29.73%

-31.25%

253.85%

25.00%

23.53%

25.53%

25.00%

-24.43%

Net Profit

-1

-0

352

-13

-14

-12

-7

-10

-1

Equity Capital

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

Operating Profit

-54

-4

-1

-5

-2

-1

—

OPM %

-7,887

-496

-81

7,804

-2,596

213

-1,158

-720

9,822

-502

—

Other Income

Interest

-0

Depreciation

-55

-4

-1

-6

-2

-1

Tax %

-36

100

-8

-4

Net Profit

-55

-4

-1

-5

-2

-1

EPS

-16

-1

-0

-2

-1

313

-22

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-1,581

-116

-28

650

-158

-51

313

-22

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

-4

-8

-9

Trade Payables

-1

-4

-1

Total Liabilities

123

120

106

ASSETS

Inventories

Cash & Bank

Total Assets

123

120

106

Total Debt

Net Working Capital

-51

-56

-63

-30

-33

-31

-32

-9

-11

Contingent Liabilities

Book Value per Share

8.06

7.60

7.31

13.82

12.24

12.26

11.74

1487.14

1465.57

Face Value

10.00

1000.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-2

-1

-3

-0

Cash from Investing

-0

Cash from Financing

-0

-5

-1

-7

-0

Free Cash Flow

-2

-1

-3

-0

OCF / Net Profit

0.03

0.56

0.65

-0.04

0.12

1883.89

-46.37

0.05

0.26

-0.11

Cumulative 5-Year FCF

-6

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

-15.81

-1.16

-0.28

6.50

-1.58

0.00

0.02

-0.51

312.69

-21.56

Book Value (₹)

8.06

7.60

7.31

13.82

12.24

12.26

11.74

1487.14

1465.57

Dividend per Share (₹)

0.00

Cash EPS (₹)

-1568.33

-103.23

-16.09

663.06

-145.78

11.16

9.86

-47.39

315.09

-19.90

PROFITABILITY

Operating Margin %

-7887.41%

-495.51%

-80.91%

7803.69%

-2595.79%

213.47%

-1158.25%

-719.94%

-1612.61%

-649.73%

Net Margin %

-7939.63%

-555.50%

-148.86%

0.00%

-3030.36%

0.12%

46.04%

-1428.54%

7504.23%

-566.19%

ROE %

-99.02%

-14.78%

-3.82%

61.56%

-12.12%

0.01%

0.15%

-4.28%

23.50%

-1.46%

ROCE %

-46.99%

-4.50%

-1.09%

19.49%

-6.06%

5.61%

1.35%

-1.35%

20.23%

-1.13%

-36.27%

-3.30%

-0.87%

22.18%

-5.88%

0.00%

0.08%

-2.47%

16.12%

-1.19%

EFFICIENCY

Debtor Days

1483

8446

6879

7031

Inventory Days

407

261

267

773

942

120

Payable Days

2626

3927

3405

5148

4411

-2218

261

267

773

942

-2402

-3285

3297

6879

2619

FINANCIAL HEALTH

Debt to Equity (x)

2.20x

2.38x

2.51x

0.81x

0.93x

0.82x

0.85x

0.24x

0.26x

Interest Coverage (x)

1617.12x

-69.35x

-6.20x

29.51x

-7.34x

5.90x

1.79x

-1.70x

22.90x

-0.99x

0.44x

0.39x

0.21x

0.45x

0.40x

0.20x

0.10x

0.27x

0.25x

GROWTH

Revenue Growth %

-88.92%

4.62%

-8.23%

-66.06%

-19.67%

1159.50%

-93.95%

-9.53%

16.00%

-8.59%

Operating Profit Growth %

0.00%

93.43%

85.02%

3373.27%

-126.72%

203.58%

-132.82%

43.76%

1682.46%

-104.68%

Net Profit Growth %

-652.27%

92.68%

75.41%

2385.55%

-124.28%

100.05%

2160.71%

-2907.42%

709.34%

-106.90%

0.00%

-106.90%

VALUATION

P/E (x)

0.00x

1.89x

0.00x

P/B (x)

0.00x

0.40x

0.62x

Dividend Yield %

0.00%

0.00x

2.29x

-66.20x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.42

FIIs

0.00

DIIs

0.00

Government

0.00

48.58

Kaushalya Infrastructure Development Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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Shareholding Pattern

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Kaushalya Infrastructure Development Corporation 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