K2 Infragen Ltd.
•₹ 50.25-1.47%
2026-08-20
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 75.2%
- Company has a healthy return on capital (ROCE) of 37.6%
- Operating margins have improved to 12.5% from 1.4%
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.11x)
- Equity base is being diluted - shares outstanding up 493.3%
- Total debt has risen sharply - up 118.8% year on year
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| 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 | 4082.00 | 33.85 | 561628.54 | 0.93 | 4988.03 | 15.51 | 67941.74 | 6.69 | 15.98 | 12.00 |
| 2. | RVNL | 225.25 | 52.21 | 46965.08 | 0.32 | 1595.20 | 1087.26 | 43212.30 | 1005.52 | 10.81 | 4.41 |
| 3. | KPIL | 1402.45 | 21.07 | 23950.00 | 0.78 | 311.53 | 45.85 | 6407.97 | 3.84 | 18.95 | 8.77 |
| 4. | IRB | 19.03 | 24.09 | 22984.43 | 0.68 | 3062.70 | 1412.58 | 21372.72 | 918.25 | 24.76 | 53.93 |
| 5. | CEMPRO | 1324.40 | 37.82 | 22751.55 | 0.23 | 140.83 | 2.64 | 2720.92 | 7.02 | 33.53 | 10.09 |
| 6. | ENGINERSIN | 244.40 | 17.52 | 13736.32 | 2.05 | 157.94 | 141.49 | 819.84 | -5.80 | 25.84 | 20.61 |
| 7. | TECHNOE | 1000.60 | 27.00 | 11636.94 | 0.70 | 93.33 | -31.44 | 630.34 | 19.84 | 16.54 | 15.79 |
| 8. | IRCON | 123.65 | 22.21 | 11629.48 | 1.54 | 92.03 | -43.92 | 1955.83 | 9.49 | 12.69 | 9.81 |
| 9. | KEC | 428.55 | 20.61 | 11408.00 | 1.28 | 72.62 | -41.72 | 5023.54 | 0.01 | 16.35 | 5.79 |
| 10. | AFCONS | 279.90 | 71.14 | 10294.29 | 0.71 | 30.30 | -77.95 | 2671.00 | -20.75 | 12.88 | 9.42 |
| 11. | WAAREERTL | 890.55 | 18.29 | 9295.49 | 0.00 | 118.98 | 37.72 | 924.25 | 53.23 | 81.92 | 18.77 |
| 12. | K2INFRA | 49.90 | 4.74 | 62.97 | 0.00 | — | — | — | — | 17.90 | — |
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 | |
|---|---|---|---|---|---|
| 35 | 37 | 75 | 109 | 147 | |
| 33 | 36 | 56 | 88 | 128 | |
| Operating Profit | 3 | 1 | 19 | 21 | 20 |
| OPM % | 7 | 1 | 26 | 20 | 14 |
| Other Income | 0 | 0 | 0 | 1 | 2 |
| Interest | 1 | 2 | 2 | 3 | 3 |
| Depreciation | 1 | 2 | 2 | 2 | 2 |
| 1 | -3 | 15 | 17 | 15 | |
| Tax % | 55 | -2 | 26 | 25 | 22 |
| Net Profit | 0 | -3 | 11 | 12 | 12 |
| EPS | 1 | -6 | 15 | 14 | 9 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | -4 | 13 | 14 | 9 |
| Minority Interest | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | -4 | 13 | 14 | 9 |
Mar 2021
- 35
- 33
- Operating Profit
- 3
- OPM %
- 7
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 1
- Tax %
- 55
- Net Profit
- 0
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2022
- 37
- 36
- Operating Profit
- 1
- OPM %
- 1
- Other Income
- 0
- Interest
- 2
- Depreciation
- 2
- -3
- Tax %
- -2
- Net Profit
- -3
- EPS
- -6
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
Mar 2023
- 75
- 56
- Operating Profit
- 19
- OPM %
- 26
- Other Income
- 0
- Interest
- 2
- Depreciation
- 2
- 15
- Tax %
- 26
- Net Profit
- 11
- EPS
- 15
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2024
- 109
- 88
- Operating Profit
- 21
- OPM %
- 20
- Other Income
- 1
- Interest
- 3
- Depreciation
- 2
- 17
- Tax %
- 25
- Net Profit
- 12
- EPS
- 14
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
Mar 2025
- 147
- 128
- Operating Profit
- 20
- OPM %
- 14
- Other Income
- 2
- Interest
- 3
- Depreciation
- 2
- 15
- Tax %
- 22
- Net Profit
- 12
- EPS
- 9
- Dividend Payout %
- 0
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 9
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 59%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -58%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -5%
- 3 Years:
- 75%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - |
| Equity Capital | 2 | 2 | 2 | 9 | 13 |
| -0 | -1 | 12 | 23 | 64 | |
| 8 | 11 | 20 | 20 | 50 | |
| Trade Payables | 2 | 3 | 13 | 20 | 48 |
| 11 | 11 | 9 | 28 | 8 | |
| Total Liabilities | 22 | 26 | 56 | 100 | 182 |
| ASSETS | - | - | - | - | - |
| 10 | 10 | 8 | 9 | 10 | |
| 0 | 0 | 1 | 1 | 1 | |
| 1 | 1 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 61 | 130 | |
| Cash & Bank | 1 | 2 | 2 | 22 | 25 |
| 11 | 13 | 45 | 7 | 16 | |
| Total Assets | 22 | 26 | 56 | 100 | 182 |
| Total Debt | 18 | 21 | 24 | 25 | 55 |
| Net Working Capital | 2 | 1 | 4 | 36 | 60 |
| Contingent Liabilities | 0 | 0 | 0 | 1 | 1 |
| Book Value per Share | 7.06 | 5.61 | 62.04 | 34.51 | 60.44 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 18 | 21 | 24 | 25 | 55 |
| Net Working Capital | 2 | 1 | 4 | 36 | 60 |
| Contingent Liabilities | 0 | 0 | 0 | 1 | 1 |
| Book Value per Share | 7.06 | 5.61 | 62.04 | 34.51 | 60.44 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2021
- Equity Capital
- 2
- -0
- 8
- Trade Payables
- 2
- 11
- Total Liabilities
- 22
- 10
- 0
- 1
- 0
- Cash & Bank
- 1
- 11
- Total Assets
- 22
- Total Debt
- 18
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 7.06
- Face Value
- 10.00
- Total Debt
- 18
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 7.06
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 2
- -1
- 11
- Trade Payables
- 3
- 11
- Total Liabilities
- 26
- 10
- 0
- 1
- 0
- Cash & Bank
- 2
- 13
- Total Assets
- 26
- Total Debt
- 21
- Net Working Capital
- 1
- Contingent Liabilities
- 0
- Book Value per Share
- 5.61
- Face Value
- 10.00
- Total Debt
- 21
- Net Working Capital
- 1
- Contingent Liabilities
- 0
- Book Value per Share
- 5.61
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 2
- 12
- 20
- Trade Payables
- 13
- 9
- Total Liabilities
- 56
- 8
- 1
- 0
- 0
- Cash & Bank
- 2
- 45
- Total Assets
- 56
- Total Debt
- 24
- Net Working Capital
- 4
- Contingent Liabilities
- 0
- Book Value per Share
- 62.04
- Face Value
- 10.00
- Total Debt
- 24
- Net Working Capital
- 4
- Contingent Liabilities
- 0
- Book Value per Share
- 62.04
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 9
- 23
- 20
- Trade Payables
- 20
- 28
- Total Liabilities
- 100
- 9
- 1
- 0
- 61
- Cash & Bank
- 22
- 7
- Total Assets
- 100
- Total Debt
- 25
- Net Working Capital
- 36
- Contingent Liabilities
- 1
- Book Value per Share
- 34.51
- Face Value
- 10.00
- Total Debt
- 25
- Net Working Capital
- 36
- Contingent Liabilities
- 1
- Book Value per Share
- 34.51
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 13
- 64
- 50
- Trade Payables
- 48
- 8
- Total Liabilities
- 182
- 10
- 1
- 0
- 130
- Cash & Bank
- 25
- 16
- Total Assets
- 182
- Total Debt
- 55
- Net Working Capital
- 60
- Contingent Liabilities
- 1
- Book Value per Share
- 60.44
- Face Value
- 10.00
- Total Debt
- 55
- Net Working Capital
- 60
- Contingent Liabilities
- 1
- Book Value per Share
- 60.44
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -3 | -1 | -1 | 5 | -43 | |
| Cash from Investing | -5 | -1 | -2 | -22 | -1 |
| Cash from Financing | 9 | 3 | 2 | 17 | 46 |
| -0 | 1 | -1 | -0 | 2 | |
| Free Cash Flow | -3 | -3 | -1 | 3 | -47 |
| OCF / Net Profit | -13.63 | 0.39 | -0.09 | 0.42 | -3.76 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
| OCF / Net Profit | -13.63 | 0.39 | -0.09 | 0.42 | -3.76 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
Mar 2021
- -3
- Cash from Investing
- -5
- Cash from Financing
- 9
- -0
- Free Cash Flow
- -3
- OCF / Net Profit
- -13.63
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -13.63
- Cumulative 5-Year FCF
- 0
Mar 2022
- -1
- Cash from Investing
- -1
- Cash from Financing
- 3
- 1
- Free Cash Flow
- -3
- OCF / Net Profit
- 0.39
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.39
- Cumulative 5-Year FCF
- 0
Mar 2023
- -1
- Cash from Investing
- -2
- Cash from Financing
- 2
- -1
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.09
- Cumulative 5-Year FCF
- 0
Mar 2024
- 5
- Cash from Investing
- -22
- Cash from Financing
- 17
- -0
- Free Cash Flow
- 3
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
Mar 2025
- -43
- Cash from Investing
- -1
- Cash from Financing
- 46
- 2
- Free Cash Flow
- -47
- OCF / Net Profit
- -3.76
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -3.76
- 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 (₹) | 1.67 | -14.44 | 50.54 | 13.52 | 9.15 |
| Book Value (₹) | 7.06 | 5.61 | 62.04 | 34.51 | 60.44 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.97 | -1.82 | 15.00 | 15.65 | 10.84 |
| PROFITABILITY | - | - | - | - | - |
| Operating Margin % | 7.40% | 1.40% | 25.76% | 19.21% | 12.52% |
| Net Margin % | 0.63% | -8.51% | 15.14% | 11.46% | 7.86% |
| ROE % | 20.16% | -269.61% | 149.80% | 54.48% | 21.36% |
| ROCE % | 8.38% | -5.45% | 58.90% | 35.94% | 17.90% |
| 1.01% | -12.94% | 27.53% | 15.98% | 8.20% | |
| EFFICIENCY | - | - | - | - | - |
| Debtor Days | 82 | 90 | 114 | 163 | 237 |
| Inventory Days | 9 | 10 | 0 | 0 | 0 |
| Payable Days | 38 | 33 | 105 | 271 | 540 |
| 53 | 67 | 9 | -107 | -303 | |
| FINANCIAL HEALTH | - | - | - | - | - |
| Debt to Equity (x) | 16.42x | 17.27x | 1.71x | 0.80x | 0.73x |
| Interest Coverage (x) | 1.45x | -0.58x | 7.89x | 7.20x | 5.66x |
| 1.23x | 1.09x | 1.11x | 1.67x | 1.58x | |
| GROWTH | - | - | - | - | - |
| Revenue Growth % | 0.00% | 3.09% | 104.52% | 45.36% | 35.04% |
| Operating Profit Growth % | 0.00% | -80.48% | 3660.51% | 11.22% | -5.22% |
| Net Profit Growth % | 0.00% | -1483.99% | 463.79% | 9.99% | -7.31% |
| 0.00% | 0.00% | 0.00% | -73.25% | -32.35% | |
| VALUATION | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 8.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 1.21x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.60x | 6.02x |
Mar 2021
- EPS (₹)
- 1.67
- Book Value (₹)
- 7.06
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.97
- Operating Margin %
- 7.40%
- Net Margin %
- 0.63%
- ROE %
- 20.16%
- ROCE %
- 8.38%
- 1.01%
- Debtor Days
- 82
- Inventory Days
- 9
- Payable Days
- 38
- 53
- Debt to Equity (x)
- 16.42x
- Interest Coverage (x)
- 1.45x
- 1.23x
- 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 (₹)
- -14.44
- Book Value (₹)
- 5.61
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -1.82
- Operating Margin %
- 1.40%
- Net Margin %
- -8.51%
- ROE %
- -269.61%
- ROCE %
- -5.45%
- -12.94%
- Debtor Days
- 90
- Inventory Days
- 10
- Payable Days
- 33
- 67
- Debt to Equity (x)
- 17.27x
- Interest Coverage (x)
- -0.58x
- 1.09x
- Revenue Growth %
- 3.09%
- Operating Profit Growth %
- -80.48%
- Net Profit Growth %
- -1483.99%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 50.54
- Book Value (₹)
- 62.04
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 15.00
- Operating Margin %
- 25.76%
- Net Margin %
- 15.14%
- ROE %
- 149.80%
- ROCE %
- 58.90%
- 27.53%
- Debtor Days
- 114
- Inventory Days
- 0
- Payable Days
- 105
- 9
- Debt to Equity (x)
- 1.71x
- Interest Coverage (x)
- 7.89x
- 1.11x
- Revenue Growth %
- 104.52%
- Operating Profit Growth %
- 3660.51%
- Net Profit Growth %
- 463.79%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 13.52
- Book Value (₹)
- 34.51
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 15.65
- Operating Margin %
- 19.21%
- Net Margin %
- 11.46%
- ROE %
- 54.48%
- ROCE %
- 35.94%
- 15.98%
- Debtor Days
- 163
- Inventory Days
- 0
- Payable Days
- 271
- -107
- Debt to Equity (x)
- 0.80x
- Interest Coverage (x)
- 7.20x
- 1.67x
- Revenue Growth %
- 45.36%
- Operating Profit Growth %
- 11.22%
- Net Profit Growth %
- 9.99%
- -73.25%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.60x
Mar 2025
- EPS (₹)
- 9.15
- Book Value (₹)
- 60.44
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 10.84
- Operating Margin %
- 12.52%
- Net Margin %
- 7.86%
- ROE %
- 21.36%
- ROCE %
- 17.90%
- 8.20%
- Debtor Days
- 237
- Inventory Days
- 0
- Payable Days
- 540
- -303
- Debt to Equity (x)
- 0.73x
- Interest Coverage (x)
- 5.66x
- 1.58x
- Revenue Growth %
- 35.04%
- Operating Profit Growth %
- -5.22%
- Net Profit Growth %
- -7.31%
- -32.35%
- P/E (x)
- 8.00x
- P/B (x)
- 1.21x
- Dividend Yield %
- 0.00%
- 6.02x
Documents
Announcements
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Annual Reports
Credit Ratings
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Concalls
Jun 2026
Dec 2025
Jun 2025