Ramky Infrastructure Ltd.

•

ramkyinfrastructure.comBSE: 533262NSE: RAMKY

Market Cap₹ 2,375 Cr.

Current Price

High / Low₹ 705 / 333

Stock P/E6.8

Book Value₹ 270

Price to Book2.04

Dividend Yield0.29 %

ROCE23.3 %

ROE19.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Revenue from Construction Activities: 100.0%

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 149.6% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 28.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 26.5%
Latest quarter profit grew 28.6% YoY, showing strong momentum
Company generates healthy free cash flow
Working capital cycle has improved - days down from 103 to 85

CONS

A large part of profit comes from other income (34.4% of PBT)
Operating margins have contracted to 17.1% from 29.4%
Growth is decelerating - 3Y profit CAGR (30.8%) trails the 5Y trend (149.6%)

* 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	3990.00	33.09	548970.57	0.95	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	208.35	48.29	43441.39	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1410.05	21.19	24079.78	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.30	24.43	23310.54	1.35	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1245.95	35.58	21403.87	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	280.10	20.08	15742.81	1.79	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	975.70	26.32	11347.35	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	119.20	21.41	11210.95	1.59	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	KEC	416.85	20.04	11096.55	1.32	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	285.25	72.50	10491.06	0.70	303.00	120.52	26710.00	692.49	12.88	9.42
11.	WELENT	706.30	31.99	9776.17	0.42	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	RAMKY	343.20	10.06	2374.87	0.29	38.80	-49.64	471.23	24.26	17.97	6.12

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
	532	534	419	548	550	503	430	486	354	445	453	427	451
	388	378	343	440	435	382	334	482	295	374	392	460	442
Operating Profit	144	156	76	108	115	121	96	4	59	71	61	280	31
OPM %	27.05%	29.21%	18.20%	19.75%	20.91%	24.12%	22.30%	0.91%	16.73%	16.00%	13.42%	65.47%	6.96%
Other Income	22	29	21	31	26	30	28	40	41	46	42	51	81
Interest	17	18	19	14	12	13	14	24	16	11	12	16	13
Depreciation	8	9	9	9	9	9	10	9	9	10	10	10	9
	142	158	70	116	120	130	100	11	75	96	81	149	90
Tax %	24.83%	23.34%	31.23%	27.12%	28.01%	24.86%	28.34%	24.45%	25.51%	29.18%	29.35%	-3.22%	20.94%
Net Profit	106	121	48	84	86	97	72	9	56	68	57	154	71
	15	18	7	12	12	14	10	1	8	10	8	22	1
Equity Capital	69	69	69	69	69	69	69	69	69	69	69	69	69
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
	1,828	1,525	1,346	1,477	1,254	912	1,298	1,474	2,033	1,969	1,776
	1,910	1,425	1,378	1,403	1,216	854	1,152	1,172	1,549	1,632	1,667
Operating Profit	316	346	288	213	127	155	381	399	588	461	—
OPM %	17	23	21	14	10	17	29	27	29	23	—
Other Income	398	246	320	139	89	97	235	97	104	124	220
Interest	243	204	145	132	89	75	96	72	68	62	53
Depreciation	52	47	40	34	26	18	18	27	34	37	38
	21	95	103	47	11	61	267	301	486	362	416
Tax %	27	40	37	12	75	12	56	29	26	27	16
Net Profit	15	57	65	41	3	54	118	214	360	265	351
EPS	3	10	10	7	0	8	17	31	52	38	—
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	3	10	11	7	0	8	17	31	52	38	—

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 9%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 150%
3 Years:: 31%

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: 18%
3 Years:: -13%
1 Year:: -38%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 22%
3 Years:: 26%
Last Year:: 19%

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	57	57	57	60	69	69	69	69	69	69
	167	224	290	355	443	497	617	831	1,190	1,454
	628	799	549	438	343	301	270	254	146	380
Trade Payables	811	813	563	487	503	545	482	495	620	663
	1,331	994	799	705	572	424	527	663	850	504
Total Liabilities	2,994	2,887	2,258	2,044	1,930	1,835	1,965	2,312	2,876	3,069
ASSETS	-	-	-	-	-	-	-	-	-	-
	211	165	122	86	61	48	74	144	176	165
Capital Work in Progress	0	0	0	0	0	0	13	3	0	0
	459	487	513	386	389	397	405	413	408	450
	457	387	356	284	62	44	68	76	95	94
	0	0	0	0	0	0	0	0	649	577
Cash & Bank	91	49	28	113	81	84	86	78	91	132
	1,774	1,799	1,239	1,175	1,336	1,263	1,319	1,600	1,457	1,652
Total Assets	2,994	2,887	2,258	2,044	1,930	1,835	1,965	2,312	2,876	3,069
Total Debt	1,644	1,334	993	982	747	647	599	594	446	420
Net Working Capital	-90	-453	-148	-103	-15	-56	64	217	573	457
Contingent Liabilities	1,576	2,795	2,856	2,766	2,929	2,696	2,643	2,493	537	581
Book Value per Share	39.15	49.20	60.66	69.26	74.02	81.80	99.13	130.04	181.96	220.13
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

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
	105	348	441	26	73	214	228	204	341	119
Cash from Investing	65	87	35	115	66	-30	-67	-135	-113	-29
Cash from Financing	-132	-494	-495	-133	-137	-190	-158	-77	-217	-73
	38	-59	-19	8	1	-6	3	-7	10	16
Free Cash Flow	105	348	441	26	73	214	189	148	341	100
OCF / Net Profit	6.80	6.08	6.78	0.64	26.75	3.97	1.93	0.95	0.95	0.45
Cumulative 5-Year FCF	0	0	0	0	992	1,102	943	651	965	991

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 (₹)	2.69	10.00	11.36	6.89	0.40	7.80	17.11	30.99	52.06	38.32
Book Value (₹)	39.15	49.20	60.66	69.26	74.02	81.80	99.13	130.04	181.96	220.13
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 (₹)	11.82	18.20	18.27	12.62	4.17	10.47	19.73	34.85	57.04	43.67
PROFITABILITY
Operating Margin %	17.31%	22.68%	21.36%	14.41%	10.11%	16.96%	29.36%	27.10%	23.82%	17.11%
Net Margin %	0.84%	3.75%	4.82%	2.79%	0.22%	5.91%	9.12%	14.55%	17.72%	13.47%
ROE %	7.11%	22.64%	20.67%	10.84%	0.59%	10.01%	18.91%	27.05%	33.37%	19.06%
ROCE %	14.51%	17.16%	16.62%	12.80%	7.51%	11.02%	29.05%	26.83%	34.62%	23.26%
	0.51%	1.95%	2.52%	1.92%	0.14%	2.87%	6.23%	10.03%	13.89%	8.92%
EFFICIENCY
Debtor Days	150	224	226	128	111	137	104	117	105	114
Inventory Days	123	101	101	79	50	21	16	18	15	17
Payable Days	416	752	1024	667	608	1328	0	0	0	0
	-143	-427	-697	-460	-447	-1170	119	135	121	131
FINANCIAL HEALTH
Debt to Equity (x)	7.34x	4.74x	2.86x	2.37x	1.46x	1.14x	0.87x	0.66x	0.35x	0.28x
Interest Coverage (x)	1.09x	1.47x	1.71x	1.36x	1.12x	1.81x	3.77x	5.20x	8.11x	6.82x
	0.96x	0.81x	0.90x	0.92x	0.99x	0.94x	1.07x	1.22x	1.50x	1.34x
GROWTH
Revenue Growth %	69.35%	-16.62%	-11.68%	9.67%	-15.11%	-27.23%	42.28%	13.57%	37.94%	-3.14%
Operating Profit Growth %	195.39%	9.28%	-16.85%	-26.02%	-40.42%	22.08%	146.27%	4.83%	47.28%	-21.58%
Net Profit Growth %	103.45%	272.04%	13.52%	-36.48%	-93.37%	1871.86%	119.40%	81.19%	67.96%	-26.38%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	67.96%	-26.38%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	9.34x	11.69x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.67x	2.04x
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	6.32x	7.34x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.81	69.81	69.81	69.81	69.81	69.81	69.81	69.81	69.81
	0.30	0.46	0.74	1.22	1.48	1.30	1.24	1.85	1.92
	0.48	0.68	0.51	0.61	0.70	0.79	0.79	0.91	0.91
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	29.41	29.05	28.94	28.36	28.01	28.11	28.17	27.44	27.36

Documents

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

2026-08-10

Updates

2026-08-10 - Ramky Infrastructure Limited has informed the Exchange regarding 'Investor Presentation'.

2026-08-10

Change in Management

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

Change in Management

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

Change in Management

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

Outcome of Board Meeting

2026-08-10 - Ramky Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-15

Structural Digital Database

2026-07-15 - compliance of SDD for quarter ended 30.06.2026

2026-07-15

Certificate under SEBI (Depositories and Participants) Regulations, 2018

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

2026-06-25

Trading Window

2026-06-25 - Ramky Infrastructure Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-05-27

Cessation

2026-05-27 - Ramky Infrastructure Limited has informed the Exchange regarding Cessation of Mr Kesava Datta as Company Secretary & Compliance Officer of the company w.e.f. May 27, 2026.

News

Recent coverage and analyst commentary for RAMKY

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Free 5nance Account

Name

3990.00

33.09

548970.57

0.95

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

208.35

48.29

43441.39

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1410.05

21.19

24079.78

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.30

24.43

23310.54

1.35

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1245.95

35.58

21403.87

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

280.10

20.08

15742.81

1.79

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

975.70

26.32

11347.35

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

IRCON

119.20

21.41

11210.95

1.59

92.03

-43.92

1955.83

9.49

10.15

9.81

KEC

416.85

20.04

11096.55

1.32

72.62

-41.72

5023.54

0.01

16.35

5.79

AFCONS

285.25

72.50

10491.06

0.70

303.00

120.52

26710.00

692.49

12.88

9.42

WELENT

706.30

31.99

9776.17

0.42

56.36

-44.29

773.72

-8.44

16.44

19.49

RAMKY

343.20

10.06

2374.87

0.29

38.80

-49.64

471.23

24.26

17.97

6.12

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

532

534

419

548

550

503

430

486

354

445

453

427

451

388

378

343

440

435

382

334

482

295

374

392

460

442

Operating Profit

144

156

108

115

121

280

OPM %

27.05%

29.21%

18.20%

19.75%

20.91%

24.12%

22.30%

0.91%

16.73%

16.00%

13.42%

65.47%

6.96%

Other Income

Interest

Depreciation

142

158

116

120

130

100

149

Tax %

24.83%

23.34%

31.23%

27.12%

28.01%

24.86%

28.34%

24.45%

25.51%

29.18%

29.35%

-3.22%

20.94%

Net Profit

106

121

154

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

1,828

1,525

1,346

1,477

1,254

912

1,298

1,474

2,033

1,969

1,776

1,910

1,425

1,378

1,403

1,216

854

1,152

1,172

1,549

1,632

1,667

Operating Profit

316

346

288

213

127

155

381

399

588

461

—

OPM %

—

Other Income

398

246

320

139

235

104

124

220

Interest

243

204

145

132

Depreciation

103

267

301

486

362

416

Tax %

Net Profit

118

214

360

265

351

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

167

224

290

355

443

497

617

831

1,190

1,454

628

799

549

438

343

301

270

254

146

380

Trade Payables

811

813

563

487

503

545

482

495

620

663

1,331

994

799

705

572

424

527

663

850

504

Total Liabilities

2,994

2,887

2,258

2,044

1,930

1,835

1,965

2,312

2,876

3,069

ASSETS

211

165

122

144

176

165

Capital Work in Progress

459

487

513

386

389

397

405

413

408

450

457

387

356

284

649

577

Cash & Bank

113

132

1,774

1,799

1,239

1,175

1,336

1,263

1,319

1,600

1,457

1,652

Total Assets

2,994

2,887

2,258

2,044

1,930

1,835

1,965

2,312

2,876

3,069

Total Debt

1,644

1,334

993

982

747

647

599

594

446

420

Net Working Capital

-90

-453

-148

-103

-15

-56

217

573

457

Contingent Liabilities

1,576

2,795

2,856

2,766

2,929

2,696

2,643

2,493

537

581

Book Value per Share

39.15

49.20

60.66

69.26

74.02

81.80

99.13

130.04

181.96

220.13

Face Value

10.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

105

348

441

214

228

204

341

119

Cash from Investing

115

-30

-67

-135

-113

-29

Cash from Financing

-132

-494

-495

-133

-137

-190

-158

-77

-217

-73

-59

-19

-6

-7

Free Cash Flow

105

348

441

214

189

148

341

100

OCF / Net Profit

6.80

6.08

6.78

0.64

26.75

3.97

1.93

0.95

0.45

Cumulative 5-Year FCF

992

1,102

943

651

965

991

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

2.69

10.00

11.36

6.89

0.40

7.80

17.11

30.99

52.06

38.32

Book Value (₹)

39.15

49.20

60.66

69.26

74.02

81.80

99.13

130.04

181.96

220.13

Dividend per Share (₹)

0.00

Cash EPS (₹)

11.82

18.20

18.27

12.62

4.17

10.47

19.73

34.85

57.04

43.67

PROFITABILITY

Operating Margin %

17.31%

22.68%

21.36%

14.41%

10.11%

16.96%

29.36%

27.10%

23.82%

17.11%

Net Margin %

0.84%

3.75%

4.82%

2.79%

0.22%

5.91%

9.12%

14.55%

17.72%

13.47%

ROE %

7.11%

22.64%

20.67%

10.84%

0.59%

10.01%

18.91%

27.05%

33.37%

19.06%

ROCE %

14.51%

17.16%

16.62%

12.80%

7.51%

11.02%

29.05%

26.83%

34.62%

23.26%

0.51%

1.95%

2.52%

1.92%

0.14%

2.87%

6.23%

10.03%

13.89%

8.92%

EFFICIENCY

Debtor Days

150

224

226

128

111

137

104

117

105

114

Inventory Days

123

101

Payable Days

416

752

1024

667

608

1328

-143

-427

-697

-460

-447

-1170

119

135

121

131

FINANCIAL HEALTH

Debt to Equity (x)

7.34x

4.74x

2.86x

2.37x

1.46x

1.14x

0.87x

0.66x

0.35x

0.28x

Interest Coverage (x)

1.09x

1.47x

1.71x

1.36x

1.12x

1.81x

3.77x

5.20x

8.11x

6.82x

0.96x

0.81x

0.90x

0.92x

0.99x

0.94x

1.07x

1.22x

1.50x

1.34x

GROWTH

Revenue Growth %

69.35%

-16.62%

-11.68%

9.67%

-15.11%

-27.23%

42.28%

13.57%

37.94%

-3.14%

Operating Profit Growth %

195.39%

9.28%

-16.85%

-26.02%

-40.42%

22.08%

146.27%

4.83%

47.28%

-21.58%

Net Profit Growth %

103.45%

272.04%

13.52%

-36.48%

-93.37%

1871.86%

119.40%

81.19%

67.96%

-26.38%

0.00%

67.96%

-26.38%

VALUATION

P/E (x)

0.00x

9.34x

11.69x

P/B (x)

0.00x

2.67x

2.04x

Dividend Yield %

0.00%

0.00x

6.32x

7.34x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.81

0.30

0.46

0.74

1.22

1.48

1.30

1.24

1.85

1.92

0.48

0.68

0.51

0.61

0.70

0.79

0.91

Government

0.00

29.41

29.05

28.94

28.36

28.01

28.11

28.17

27.44

27.36

Ramky Infrastructure Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

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Ramky 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