Ramky Infrastructure Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Construction Business Segment: 67.1% • Developer Business Segment: 32.9%
AI Sector View
AI GENERATEDConstruction
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.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 56.3%
- Company has a healthy return on capital (ROCE) of 34.8%
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.99x)
- Working capital cycle has improved - days down from 27 to -33
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (50.1% of PBT)
- Operating margins have contracted to 16.4% from 36.1%
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LT | 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 | 303.00 | 120.52 | 26710.00 | 692.49 | 12.88 | 9.42 |
| RAMKY | 331.50 | 9.72 | 2293.91 | 0.30 | 38.80 | -49.64 | 471.23 | 24.26 | 17.97 | 6.12 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 557 | 582 | 441 | 581 | 569 | 527 | 459 | 489 | 379 | 472 | 489 | 507 | 471 | |
| 400 | 401 | 364 | 486 | 453 | 399 | 369 | 487 | 303 | 389 | 413 | 511 | 488 | |
| Operating Profit | 157 | 181 | 77 | 95 | 116 | 129 | 90 | 2 | 76 | 83 | 76 | -4 | -17 |
| OPM % | 28.20% | 31.04% | 17.45% | 16.43% | 20.40% | 24.40% | 19.52% | 0.37% | 20.00% | 17.54% | 15.53% | -0.83% | -3.64% |
| 37 | 41 | 40 | 43 | 36 | 36 | 40 | 55 | 61 | 57 | 62 | 74 | 72 | |
| Interest | 40 | 46 | 45 | 28 | 29 | 30 | 26 | 35 | 22 | 18 | 18 | 16 | 37 |
| Depreciation | 11 | 12 | 12 | 13 | 12 | 13 | 13 | 13 | 14 | 15 | 15 | 14 | 9 |
| Profit before Tax | 143 | 164 | 59 | 97 | 111 | 122 | 90 | 8 | 101 | 108 | 105 | 40 | 55 |
| Tax % | 26.41% | 26.26% | 36.55% | 40.97% | 35.82% | 31.82% | 33.85% | 244.83% | 23.60% | 29.68% | 25.97% | -29.17% | 29.69% |
| Net Profit | 0 | 0 | 0 | 0 | 71 | 83 | 60 | -33 | 77 | 76 | 78 | 52 | 39 |
| 14.64 | 16.28 | 5.27 | 8.29 | 9.77 | 11.30 | 8.15 | -1.94 | 10.75 | 10.87 | 11.35 | 6.21 | 5.68 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,048 | 1,719 | 1,578 | 1,749 | 1,387 | 1,056 | 1,459 | 1,705 | 2,161 | 2,045 | 1,938 | |
| 2,122 | 1,601 | 1,568 | 1,574 | 1,432 | 954 | 1,253 | 1,367 | 1,650 | 1,708 | 1,801 | |
| Operating Profit | -74 | 118 | 10 | 175 | -45 | 103 | 205 | 338 | 510 | 336 | 137 |
| OPM % | -3.62% | 6.85% | 0.66% | 9.99% | -3.27% | 9.71% | 14.07% | 19.83% | 23.61% | 16.45% | 7.08% |
| 508 | 391 | 525 | 255 | 169 | 185 | 322 | 1,456 | 160 | 166 | 265 | |
| Interest | 397 | 399 | 369 | 378 | 341 | 325 | 373 | 363 | 158 | 120 | 88 |
| Depreciation | 66 | 59 | 55 | 48 | 45 | 32 | 31 | 42 | 48 | 51 | 52 |
| Profit before Tax | -29 | 50 | 111 | 3 | -263 | -70 | 123 | 1,389 | 463 | 331 | 308 |
| Tax % | -22.13% | 68.39% | 40.78% | 101.51% | -1.11% | 127.97% | 67.33% | 17.03% | 30.72% | 36.42% | 20.72% |
| Net Profit | -35 | 16 | 66 | -0 | -266 | 19 | 40 | 1,153 | 321 | 210 | 245 |
| EPS | -8.16 | -1.05 | 4.58 | 2.41 | -29.43 | 2.83 | 3.41 | 164.83 | 44.48 | 28.54 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- 8%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 103%
STOCK PRICE CAGR
- 10 Years:
- 16%
- 5 Years:
- 17%
- 3 Years:
- -15%
- 1 Year:
- -41%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 38%
- 3 Years:
- 56%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 57 | 57 | 57 | 60 | 69 | 69 | 69 | 69 | 69 | 69 |
| Minority Interest | 123 | 117 | 121 | 106 | 23 | 23 | 124 | 136 | 152 | 165 |
| 299 | 293 | 322 | 365 | 251 | 271 | 207 | 1,342 | 1,643 | 1,835 | |
| 3,262 | 3,098 | 3,248 | 2,867 | 2,686 | 2,518 | 2,298 | 1,800 | 1,023 | 737 | |
| Trade Payables | 915 | 946 | 822 | 601 | 513 | 576 | 548 | 564 | 638 | 679 |
| 320 | 680 | 111 | 340 | 487 | 530 | 970 | 624 | 674 | 648 | |
| Total Liabilities | 4,976 | 5,191 | 4,682 | 4,339 | 4,030 | 3,987 | 4,216 | 4,535 | 4,199 | 4,134 |
| 354 | 303 | 298 | 280 | 239 | 202 | 265 | 329 | 217 | 206 | |
| Capital Work in Progress | 0 | 0 | 16 | 0 | 1 | 28 | 28 | 58 | 0 | 0 |
| 198 | 170 | 138 | 6 | 6 | 7 | 7 | 7 | 0 | 0 | |
| 726 | 527 | 520 | 389 | 164 | 147 | 169 | 177 | 115 | 112 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 413 | 377 | |
| Cash & Bank | 143 | 105 | 80 | 193 | 251 | 255 | 324 | 863 | 153 | 160 |
| 3,556 | 4,085 | 3,630 | 3,471 | 3,369 | 3,349 | 3,423 | 3,101 | 3,301 | 3,280 | |
| Total Assets | 4,976 | 5,191 | 4,682 | 4,339 | 4,030 | 3,987 | 4,216 | 4,535 | 4,199 | 4,134 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -146 | 351 | 384 | 401 | 256 | 175 | 262 | 2,595 | 370 | 373 | |
| Cash from Investing | 75 | 78 | -21 | 106 | 30 | 1 | -85 | -215 | -72 | -11 |
| Cash from Financing | 110 | -491 | -421 | -477 | -195 | -227 | -327 | -1,650 | -1,011 | -380 |
| 25 | -63 | -21 | 33 | 98 | -3 | -135 | 745 | -712 | -18 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Ramky Infrastructure Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.
2026-09-04 - Ramky Infrastructure Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026
2026-08-10 - Ramky Infrastructure Limited has informed the Exchange regarding 'Investor Presentation'.
2026-08-10 - Ramky Infrastructure Limited has informed the Exchange about Re-appointment of Mr. Yancharla Rathnakara Nagaraja (DIN: 00009810), as Managing Director of the Company
2026-08-10 - Ramky Infrastructure Limited has informed the Exchange about Re-appointment of Mr. Eshwar Reddy Purmandla (DIN: 01892327), as an Independent Director of the Company
2026-08-10 - Ramky Infrastructure Limited has informed the Exchange about Recommendation of re-appointment of Dr. Anantapuram Guggela Ravindranath Reddy (DIN: 01729114) as Non-Executive Director of the Company whose office is liable to retire by rotation
2026-08-10 - Ramky Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-15 - compliance of SDD for quarter ended 30.06.2026
2026-07-15 - Ramky Infrastructure Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
News
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