Indifra Ltd.

•

₹ 11.950%

2026-08-21

indifra.comBSE: -NSE: INDIFRA

Market Cap₹ 9 Cr.

Current Price₹ 12

High / Low₹ 21 / 11

Stock P/E0.0

Book Value₹ 25

Price to Book0.51

Dividend Yield0.00 %

ROCE0.1 %

ROE0.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • Works Contract Income: 72.0% • Sale of Electrical Goods: 28.0%

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 25.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%

CONS

Company is loss-making at the operating / net level
A large part of profit comes from other income (6939.0% of PBT)
Interest coverage is weak at 1.9x - earnings barely cover interest
Operating cash flow has been negative in recent years
Effective tax rate is unusually low at -25.4% - earnings may be flattered
Operating margins have contracted to -3.1% from 5.5%

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

Peer comparison

EDIT COLUMNS

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	LT	4030.10	33.42	554487.79	0.94	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	223.10	51.71	46516.80	0.32	1595.20	1087.26	43212.30	1005.52	10.81	4.41
3.	KPIL	1377.05	20.69	23516.23	0.80	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	18.97	24.01	22911.97	0.69	3062.70	1412.58	21372.72	918.25	24.76	53.93
5.	CEMPRO	1263.50	36.08	21705.36	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	236.95	16.98	13317.59	2.11	157.94	141.49	819.84	-5.80	25.84	20.61
7.	TECHNOE	997.70	26.92	11603.21	0.70	93.33	-31.44	630.34	19.84	16.54	15.79
8.	IRCON	122.60	22.02	11530.72	1.55	92.03	-43.92	1955.83	9.49	12.69	9.81
9.	KEC	423.05	20.34	11261.59	1.30	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	277.95	70.65	10222.57	0.72	30.30	-77.95	2671.00	-20.75	12.88	9.42
11.	WAAREERTL	880.80	18.09	9193.72	0.00	118.98	37.72	924.25	53.23	81.92	18.77
12.	INDIFRA	11.95	0.00	8.71	0.00	—	—	—	—	0.07	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	11	10	10	12
	3	10	9	11	12
Operating Profit	0	1	1	-1	0
OPM %	6	5	15	-12	0
Other Income	0	0	0	0	0
Interest	0	0	0	0	0
Depreciation	0	0	0	0	0
	0	1	1	-1	0
Tax %	25	25	26	-0	-25
Net Profit	0	0	1	-1	0
EPS	1	2	2	-2	0
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	1	2	6	-2	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	1	2	6	-2	0

Mar 2021

: 3
: 3
Operating Profit: 0
OPM %: 6
Other Income: 0
Interest: 0
Depreciation: 0
: 0
Tax %: 25
Net Profit: 0
EPS: 1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2022

: 11
: 10
Operating Profit: 1
OPM %: 5
Other Income: 0
Interest: 0
Depreciation: 0
: 1
Tax %: 25
Net Profit: 0
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2023

: 10
: 9
Operating Profit: 1
OPM %: 15
Other Income: 0
Interest: 0
Depreciation: 0
: 1
Tax %: 26
Net Profit: 1
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 10
: 11
Operating Profit: -1
OPM %: -12
Other Income: 0
Interest: 0
Depreciation: 0
: -1
Tax %: -0
Net Profit: -1
EPS: -2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -2

Mar 2025

: 12
: 12
Operating Profit: 0
OPM %: 0
Other Income: 0
Interest: 0
Depreciation: 0
: 0
Tax %: -25
Net Profit: 0
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -74%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -23%

RETURN ON EQUITY

10 Years:: —
5 Years:: 37%
3 Years:: 24%
Last Year:: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	0	0	0	7	7
	0	1	2	11	11
Trade Payables	1	2	1	0	0
	1	1	0	0	0
Total Liabilities	2	4	3	18	19
ASSETS	-	-	-	-	-
	0	0	0	9	11
	1	1	1	1	1
	0	0	0	4	3
Cash & Bank	0	1	-1	0	0
	1	3	4	4	3
Total Assets	2	4	3	18	19
Total Debt	0	1	0	0	0
Net Working Capital	0	1	2	18	18
Contingent Liabilities	0	0	0	0	0
Book Value per Share	306.80	706.20	1704.30	24.91	24.92
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	0	1	0	0	0
Net Working Capital	0	1	2	18	18
Contingent Liabilities	0	0	0	0	0
Book Value per Share	306.80	706.20	1704.30	24.91	24.92
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 0
: 0
Trade Payables: 1
: 1
Total Liabilities: 2
: 0
: 1
: 0
Cash & Bank: 0
: 1
Total Assets: 2
Total Debt: 0
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 306.80
Face Value: 10.00
Total Debt: 0
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 306.80
Face Value: 10.00

Mar 2022

Equity Capital: 0
: 1
Trade Payables: 2
: 1
Total Liabilities: 4
: 0
: 1
: 0
Cash & Bank: 1
: 3
Total Assets: 4
Total Debt: 1
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 706.20
Face Value: 10.00
Total Debt: 1
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 706.20
Face Value: 10.00

Mar 2023

Equity Capital: 0
: 2
Trade Payables: 1
: 0
Total Liabilities: 3
: 0
: 1
: 0
Cash & Bank: -1
: 4
Total Assets: 3
Total Debt: 0
Net Working Capital: 2
Contingent Liabilities: 0
Book Value per Share: 1704.30
Face Value: 10.00
Total Debt: 0
Net Working Capital: 2
Contingent Liabilities: 0
Book Value per Share: 1704.30
Face Value: 10.00

Mar 2024

Equity Capital: 7
: 11
Trade Payables: 0
: 0
Total Liabilities: 18
: 9
: 1
: 4
Cash & Bank: 0
: 4
Total Assets: 18
Total Debt: 0
Net Working Capital: 18
Contingent Liabilities: 0
Book Value per Share: 24.91
Face Value: 10.00
Total Debt: 0
Net Working Capital: 18
Contingent Liabilities: 0
Book Value per Share: 24.91
Face Value: 10.00

Mar 2025

Equity Capital: 7
: 11
Trade Payables: 0
: 0
Total Liabilities: 19
: 11
: 1
: 3
Cash & Bank: 0
: 3
Total Assets: 19
Total Debt: 0
Net Working Capital: 18
Contingent Liabilities: 0
Book Value per Share: 24.92
Face Value: 10.00
Total Debt: 0
Net Working Capital: 18
Contingent Liabilities: 0
Book Value per Share: 24.92
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-1	1	-2	-6	1
Cash from Investing	-0	-0	-0	-9	-1
Cash from Financing	0	-0	-0	17	0
	-0	1	-2	2	-0
Free Cash Flow	-1	1	-2	-6	1
OCF / Net Profit	-6.52	1.81	-1.88	5.36	120.62
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	-6.52	1.81	-1.88	5.36	120.62
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: -1
Cash from Investing: -0
Cash from Financing: 0
: -0
Free Cash Flow: -1
OCF / Net Profit: -6.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: -6.52
Cumulative 5-Year FCF: 0

Mar 2022

: 1
Cash from Investing: -0
Cash from Financing: -0
: 1
Free Cash Flow: 1
OCF / Net Profit: 1.81
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.81
Cumulative 5-Year FCF: 0

Mar 2023

: -2
Cash from Investing: -0
Cash from Financing: -0
: -2
Free Cash Flow: -2
OCF / Net Profit: -1.88
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.88
Cumulative 5-Year FCF: 0

Mar 2024

: -6
Cash from Investing: -9
Cash from Financing: 17
: 2
Free Cash Flow: -6
OCF / Net Profit: 5.36
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.36
Cumulative 5-Year FCF: 0

Mar 2025

: 1
Cash from Investing: -1
Cash from Financing: 0
: -0
Free Cash Flow: 1
OCF / Net Profit: 120.62
Cumulative 5-Year FCF: 0
OCF / Net Profit: 120.62
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	105.10	399.40	998.10	-1.63	0.01
Book Value (₹)	306.80	706.20	1704.30	24.91	24.92
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.65	2.37	5.87	-1.62	0.05
PROFITABILITY	-	-	-	-	-
Operating Margin %	6.23%	5.48%	14.77%	-13.82%	-3.14%
Net Margin %	3.48%	3.66%	9.97%	-12.04%	0.06%
ROE %	34.26%	78.85%	82.81%	-11.96%	0.04%
ROCE %	23.94%	60.04%	89.32%	-11.60%	0.07%
	4.58%	12.31%	27.27%	-11.02%	0.04%
EFFICIENCY	-	-	-	-	-
Debtor Days	160	65	104	128	113
Inventory Days	92	22	20	23	32
Payable Days	-852	2452	72	17	9
	1104	-2365	52	134	137
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	1.47x	0.72x	0.22x	0.00x	0.00x
Interest Coverage (x)	4.49x	10.37x	12.29x	-129.08x	1.88x
	1.09x	1.17x	2.12x	65.37x	49.74x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	261.82%	-8.27%	-1.48%	18.88%
Operating Profit Growth %	0.00%	217.87%	147.41%	-179.14%	103.56%
Net Profit Growth %	0.00%	280.02%	149.90%	-219.00%	100.62%
	0.00%	0.00%	0.00%	-100.16%	100.62%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	1251.12x
P/B (x)	0.00x	0.00x	0.00x	1.35x	0.51x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	-20.63x	218.88x

Mar 2021

EPS (₹): 105.10
Book Value (₹): 306.80
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.65
Operating Margin %: 6.23%
Net Margin %: 3.48%
ROE %: 34.26%
ROCE %: 23.94%
: 4.58%
Debtor Days: 160
Inventory Days: 92
Payable Days: -852
: 1104
Debt to Equity (x): 1.47x
Interest Coverage (x): 4.49x
: 1.09x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 399.40
Book Value (₹): 706.20
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.37
Operating Margin %: 5.48%
Net Margin %: 3.66%
ROE %: 78.85%
ROCE %: 60.04%
: 12.31%
Debtor Days: 65
Inventory Days: 22
Payable Days: 2452
: -2365
Debt to Equity (x): 0.72x
Interest Coverage (x): 10.37x
: 1.17x
Revenue Growth %: 261.82%
Operating Profit Growth %: 217.87%
Net Profit Growth %: 280.02%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 998.10
Book Value (₹): 1704.30
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.87
Operating Margin %: 14.77%
Net Margin %: 9.97%
ROE %: 82.81%
ROCE %: 89.32%
: 27.27%
Debtor Days: 104
Inventory Days: 20
Payable Days: 72
: 52
Debt to Equity (x): 0.22x
Interest Coverage (x): 12.29x
: 2.12x
Revenue Growth %: -8.27%
Operating Profit Growth %: 147.41%
Net Profit Growth %: 149.90%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): -1.63
Book Value (₹): 24.91
Dividend per Share (₹): 0.00
Cash EPS (₹): -1.62
Operating Margin %: -13.82%
Net Margin %: -12.04%
ROE %: -11.96%
ROCE %: -11.60%
: -11.02%
Debtor Days: 128
Inventory Days: 23
Payable Days: 17
: 134
Debt to Equity (x): 0.00x
Interest Coverage (x): -129.08x
: 65.37x
Revenue Growth %: -1.48%
Operating Profit Growth %: -179.14%
Net Profit Growth %: -219.00%
: -100.16%
P/E (x): 0.00x
P/B (x): 1.35x
Dividend Yield %: 0.00%
: -20.63x

Mar 2025

EPS (₹): 0.01
Book Value (₹): 24.92
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.05
Operating Margin %: -3.14%
Net Margin %: 0.06%
ROE %: 0.04%
ROCE %: 0.07%
: 0.04%
Debtor Days: 113
Inventory Days: 32
Payable Days: 9
: 137
Debt to Equity (x): 0.00x
Interest Coverage (x): 1.88x
: 49.74x
Revenue Growth %: 18.88%
Operating Profit Growth %: 103.56%
Net Profit Growth %: 100.62%
: 100.62%
P/E (x): 1251.12x
P/B (x): 0.51x
Dividend Yield %: 0.00%
: 218.88x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	67.56	67.56	67.56	67.56	67.56
FIIs	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00
	32.44	32.44	32.44	32.44	32.44

Mar 2024

: 67.56
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 32.44

Sep 2024

: 67.56
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 32.44

Mar 2025

: 67.56
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 32.44

Sep 2025

: 67.56
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 32.44

Mar 2026

: 67.56
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 32.44

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025
Annual Report FY2024
2024

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.