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Last Updated: April 2, 2026, 3:08 am
Author: Getaka|Social: XLinkedIn

Ircon International Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹121.76Fairly Valued by 2.59%vs CMP ₹125.00

P/E (19.2) × ROE (11.3%) × BV (₹68.70) × DY (2.11%)

₹73.36Overvalued by 41.31%vs CMP ₹125.00
MoS: -70.4% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹122.6322%Fair (-1.9%)
Graham NumberEarnings₹100.4716%Over (-19.6%)
Earnings PowerEarnings₹14.9913%Over (-88%)
DCFCash Flow₹18.9913%Over (-84.8%)
Net Asset ValueAssets₹68.457%Over (-45.2%)
EV/EBITDAEnterprise₹27.379%Over (-78.1%)
Earnings YieldEarnings₹65.307%Over (-47.8%)
ROCE CapitalReturns₹109.697%Over (-12.2%)
Revenue MultipleRevenue₹114.045%Fair (-8.8%)
Consensus (9 models)₹73.36100%Overvalued
Key Drivers: Wide model spread (₹15–₹123) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 0.7%

*Investments are subject to market risks

Investment Snapshot

51
Ircon International Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health63/100 · Moderate
ROCE 11.6% AverageROE 11.3% AverageD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.43% (6mo) Slight increasePromoter holding at 65.2% Stable
Earnings Quality50/100 · Moderate
OPM stable around 9% Steady
Quarterly Momentum25/100 · Weak
Revenue (4Q): -17% YoY DecliningProfit (4Q): -20% YoY Declining
Industry Rank55/100 · Moderate
P/E 19.2 vs industry 35.5 Cheaper than peersROCE 11.6% vs industry 37.7% Below peers3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:08 am

Market Cap 11,794 Cr.
Current Price 125
Intrinsic Value₹73.36
High / Low 226/114
Stock P/E19.2
Book Value 68.7
Dividend Yield2.11 %
ROCE11.6 %
ROE11.3 %
Face Value 2.00
PEG Ratio26.68

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ircon International Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ircon International Ltd 11,794 Cr. 125 226/11419.2 68.72.11 %11.6 %11.3 % 2.00
Engineers India Ltd 11,296 Cr. 201 255/14914.6 48.11.99 %25.0 %23.2 % 5.00
Azad Engineering Ltd 9,911 Cr. 1,535 1,899/1,12880.5 2290.00 %12.2 %8.58 % 2.00
Va Tech Wabag Ltd 7,703 Cr. 1,236 1,680/1,03322.3 3730.32 %19.7 %14.6 % 2.00
Craftsman Automation Ltd 16,312 Cr. 6,838 8,220/3,70046.4 1,2700.07 %11.7 %9.41 % 5.00
Industry Average3,678.83 Cr421.0935.53118.780.36%37.74%16.87%6.04

All Competitor Stocks of Ircon International Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,3473,7812,7642,9872,9303,7872,2872,4482,6133,4121,7861,9772,119
Expenses 2,1903,5982,5132,7712,6713,4702,0372,2472,4813,1581,5861,8361,961
Operating Profit 156183251216259317251201132254200141158
OPM % 7%5%9%7%9%8%11%8%5%7%11%7%7%
Other Income 751866417711910710714286103124156112
Interest 30333337374148535662758593
Depreciation 24361927272727283132374042
Profit before tax 178301263328314356282262132263212172135
Tax % -7%15%29%24%22%31%20%22%35%19%22%21%26%
Net Profit 19025618725124524722420686212164137100
EPS in Rs 2.022.731.992.672.602.622.382.190.922.241.751.471.07

Last Updated: March 4, 2026, 8:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 2:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3,8973,0382,4933,0674,0244,7985,3915,3427,38010,36812,51410,7609,294
Expenses 2,9812,3512,2282,7403,5764,3204,7874,8456,7959,66411,4069,9128,541
Operating Profit 9176872643284484796044975857041,108847753
OPM % 24%23%11%11%11%10%11%9%8%7%9%8%8%
Other Income 253264421313189212178196261413403431494
Interest 393343596515282362119149221315
Depreciation 345731271652839295107100118151
Profit before tax 1,0978616125565556246725786898911,261939782
Tax % 32%32%36%31%26%28%28%32%14%14%26%22%
Net Profit 747583393384409450485391592765930728612
EPS in Rs 37.7329.4019.853.884.354.795.164.166.308.149.887.736.53
Dividend Payout % 24%31%43%96%47%45%46%36%40%37%31%34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-21.95%-32.59%-2.29%6.51%10.02%7.78%-19.38%51.41%29.22%21.57%-21.72%
Change in YoY Net Profit Growth (%)0.00%-10.64%30.30%8.80%3.51%-2.25%-27.16%70.79%-22.18%-7.65%-43.29%

Ircon International Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:15%
3 Years:13%
TTM:-14%
Compounded Profit Growth
10 Years:2%
5 Years:8%
3 Years:5%
TTM:-31%
Stock Price CAGR
10 Years:%
5 Years:31%
3 Years:58%
1 Year:-34%
Return on Equity
10 Years:12%
5 Years:13%
3 Years:14%
Last Year:11%

Last Updated: September 5, 2025, 7:50 am

Balance Sheet

Last Updated: December 10, 2025, 2:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2020209994949494188188188188188
Reserves 2,9963,2853,6193,7183,6673,8704,0774,3094,4785,0235,6836,1386,270
Borrowings 0239003,2003,07703311,3991,5052,5704,2995,138
Other Liabilities 3,1973,8934,5005,4155,8106,2786,0096,5208,3828,8219,0118,8968,624
Total Liabilities 6,2137,4378,1399,23112,77113,31810,18111,25414,44615,53717,45219,52120,219
Fixed Assets 2167365065245681,8901,9821,9221,8451,8251,7362,4533,471
CWIP 4830755499645530133619549976620
Investments 4344964877817848098038509711,0491,5531,2961,874
Other Assets 5,5156,1747,0707,37810,45510,5657,3668,46811,59412,64413,61414,79614,254
Total Assets 6,2137,4378,1399,23112,77113,31810,18111,25414,44615,53717,45219,52120,219

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -1605021,441919-2,617-1,185-1365181,414-278-79-1,110
Cash from Investing Activity + 14-52147-1,834-20616447-785-1,2411,582-72054
Cash from Financing Activity + -233-222-219-2222,737-93-275169671-2236401,156
Net Cash Flow -379-2421,269-1,137100-66236-998441,080-158100
Free Cash Flow -2114721,365402-3,037-1,516-1855341,374-376-887-2,161
CFO/OP 8%95%586%298%-571%-227%-11%113%247%-29%36%-95%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow917.00448.00264.00328.00445.00476.00604.00166.00584.00703.00-1.00843.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 617275566151374334302345
Inventory Days 1731501571523207650
Days Payable 822428406550588477687
Cash Conversion Cycle -58872-203-193-33751-231-358343023-592
Working Capital Days -81-147-215-175-162-101-85-119-128-47-41-32
ROCE %41%27%18%14%11%9%12%13%14%16%18%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.18%73.18%73.18%65.17%65.17%65.17%65.17%65.17%65.17%65.17%65.17%65.17%
FIIs 3.99%5.17%4.01%4.11%4.58%4.17%3.94%4.09%4.11%4.58%4.61%4.54%
DIIs 1.87%0.80%0.36%0.93%1.31%2.90%1.63%1.44%1.57%1.60%1.64%1.72%
Government 0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.28%0.28%0.28%0.28%0.28%
Public 20.71%20.59%22.17%29.51%28.66%27.51%28.99%29.03%28.88%28.37%28.29%28.28%
No. of Shareholders 2,97,6233,26,0014,70,2755,98,4779,31,49210,22,21312,07,13412,15,38612,46,91712,01,23511,68,06411,34,133

Shareholding Pattern Chart

No. of Shareholders

Ircon International Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Quantamental Fund 1,000,000 1.27 13.881,000,0002025-04-22 17:25:300%
Quant Value Fund 770,000 1.39 10.68770,0002025-04-22 17:25:300%
Nippon India Nifty Smallcap 250 Index Fund 153,481 0.3 2.13153,4812025-04-22 17:25:300%
Motilal Oswal Nifty Smallcap 250 Index Fund 96,362 0.3 1.3496,3622025-04-22 17:25:300%
SBI Nifty Smallcap 250 Index Fund 70,721 0.3 0.9870,7212025-04-22 17:25:300%
Motilal Oswal Nifty 500 Index Fund 10,530 0.03 0.1510,5302025-04-22 17:25:300%
Edelweiss Nifty Smallcap 250 Index Fund 3,254 0.29 0.053,2542025-04-22 17:25:300%
Groww Nifty Total Market Index Fund 576 0.02 0.015762025-04-22 17:25:300%
Motilal Oswal Nifty 500 ETF 461 0.03 0.014612025-04-22 17:25:300%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 7.739.888.146.304.16
Diluted EPS (Rs.) 7.739.888.146.304.16
Cash EPS (Rs.) 8.3610.468.946.679.96
Book Value[Excl.RevalReserv]/Share (Rs.) 67.2762.8055.5549.6293.63
Book Value[Incl.RevalReserv]/Share (Rs.) 67.2762.8055.5549.6293.63
Revenue From Operations / Share (Rs.) 114.40131.11110.2478.47113.60
PBDIT / Share (Rs.) 12.9315.5611.548.4314.42
PBIT / Share (Rs.) 11.6814.5010.397.4212.46
PBT / Share (Rs.) 9.3512.929.146.6811.97
Net Profit / Share (Rs.) 7.109.397.805.668.00
NP After MI And SOA / Share (Rs.) 7.739.888.146.308.32
PBDIT Margin (%) 11.3011.8710.4610.7412.69
PBIT Margin (%) 10.2011.059.429.4510.96
PBT Margin (%) 8.179.858.298.5110.53
Net Profit Margin (%) 6.207.167.077.217.04
NP After MI And SOA Margin (%) 6.767.537.388.027.32
Return on Networth / Equity (%) 11.4915.8314.6812.698.88
Return on Capital Employeed (%) 8.9313.2011.8110.3710.71
Return On Assets (%) 3.725.324.924.103.47
Long Term Debt / Equity (X) 0.650.410.270.270.07
Total Debt / Equity (X) 0.670.430.280.290.07
Asset Turnover Ratio (%) 0.580.740.690.570.42
Current Ratio (X) 1.591.681.541.331.29
Quick Ratio (X) 1.571.651.511.291.27
Inventory Turnover Ratio (X) 65.552.381.612.611.67
Dividend Payout Ratio (NP) (%) 38.1430.3530.1156.3640.40
Dividend Payout Ratio (CP) (%) 32.8227.3926.4048.5632.70
Earning Retention Ratio (%) 61.8669.6569.8943.6459.60
Cash Earning Retention Ratio (%) 67.1872.6173.6051.4467.30
Interest Coverage Ratio (X) 5.559.869.1911.5229.10
Interest Coverage Ratio (Post Tax) (X) 4.056.957.218.7417.15
Enterprise Value (Cr.) 14218.3118205.561661.58-374.581020.31
EV / Net Operating Revenue (X) 1.321.480.16-0.050.19
EV / EBITDA (X) 11.6912.441.53-0.471.50
MarketCap / Net Operating Revenue (X) 1.371.670.500.500.77
Retention Ratios (%) 61.8569.6469.8843.6359.59
Price / BV (X) 2.323.511.010.800.94
Price / Net Operating Revenue (X) 1.371.670.500.500.77
EarningsYield 0.040.040.140.150.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ircon International Ltd. is a Public Limited Listed company incorporated on 28/04/1976 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L45203DL1976GOI008171 and registration number is 008171. Currently Company is involved in the business activities of Construction and maintenance of railways and rail-bridges. Company's Total Operating Revenue is Rs. 10193.14 Cr. and Equity Capital is Rs. 188.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - GeneralPlot No. C-4, District Centre, New Delhi Delhi 110017Contact not found
Management
NamePosition Held
Mr. Hari Mohan GuptaChairman & M.D & CEO
Mrs. Ragini AdvaniDirector - Finance
Mr. Ajit Kumar MishraDirector - Works
Mr. Anand Kumar SinghDirector - Projects
Mr. Anand BhatiaPart Time Official (Nominee) Director
Mr. Anupum SinghPart Time Official (Nominee) Director
Mr. T VaradharajanInd. Part Time Non Official Director

FAQ

What is the intrinsic value of Ircon International Ltd and is it undervalued?

As of 13 April 2026, Ircon International Ltd's intrinsic value is ₹73.36, which is 41.31% lower than the current market price of ₹125.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.3 %), book value (₹68.7), dividend yield (2.11 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ircon International Ltd?

Ircon International Ltd is trading at ₹125.00 as of 13 April 2026, with a FY2026-2027 high of ₹226 and low of ₹114. The stock is currently near its 52-week low. Market cap stands at ₹11,794 Cr..

How does Ircon International Ltd's P/E ratio compare to its industry?

Ircon International Ltd has a P/E ratio of 19.2, which is below the industry average of 35.53. This is broadly in line with or below the industry average.

Is Ircon International Ltd financially healthy?

Key indicators for Ircon International Ltd: ROCE of 11.6 % is moderate. Dividend yield is 2.11 %.

Is Ircon International Ltd profitable and how is the profit trend?

Ircon International Ltd reported a net profit of ₹728 Cr in Mar 2025 on revenue of ₹10,760 Cr. Compared to ₹592 Cr in Mar 2022, the net profit shows an improving trend.

Does Ircon International Ltd pay dividends?

Ircon International Ltd has a dividend yield of 2.11 % at the current price of ₹125.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ircon International Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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