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Last Updated: April 2, 2026, 3:18 am
Author: Getaka|Social: XLinkedIn

Man Infraconstruction Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹112.71Undervalued by 31.98%vs CMP ₹85.40

P/E (14.7) × ROE (17.5%) × BV (₹54.20) × DY (1.05%)

₹76.97Fairly Valued by 9.87%vs CMP ₹85.40
MoS: -11% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹113.4423%Under (+32.8%)
Graham NumberEarnings₹85.6816%Fair (+0.3%)
Earnings PowerEarnings₹61.6711%Over (-27.8%)
DCFCash Flow₹73.9114%Over (-13.5%)
Net Asset ValueAssets₹54.177%Over (-36.6%)
EV/EBITDAEnterprise₹75.819%Over (-11.2%)
Earnings YieldEarnings₹60.207%Over (-29.5%)
ROCE CapitalReturns₹50.237%Over (-41.2%)
Revenue MultipleRevenue₹27.465%Over (-67.8%)
Consensus (9 models)₹76.97100%Fairly Valued
Key Drivers: Wide model spread (₹27–₹113) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 0.6%

*Investments are subject to market risks

Investment Snapshot

59
Man Infraconstruction Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health82/100 · Strong
ROCE 23.5% ExcellentROE 17.5% GoodD/E 0.68 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.11% (6mo) Slight increasePromoter holding at 62.4% Stable
Earnings Quality55/100 · Moderate
OPM expanding (24% → 27%) ImprovingWorking capital: 350 days Capital intensive
Quarterly Momentum15/100 · Weak
Revenue (4Q): -30% YoY DecliningProfit (4Q): -5% YoY DecliningOPM: 21.0% (down 4.0% YoY) Margin pressure
Industry Rank75/100 · Strong
P/E 14.7 vs industry 36.6 Cheaper than peersROCE 23.5% vs industry 16.4% Above peers3Y sales CAGR: 5% Slow

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, 3:18 am

Market Cap 3,446 Cr.
Current Price 85.4
Intrinsic Value₹76.97
High / Low 192/77.1
Stock P/E14.7
Book Value 54.2
Dividend Yield1.05 %
ROCE23.5 %
ROE17.5 %
Face Value 2.00
PEG Ratio22.85

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

View Share Price Target for Man Infraconstruction Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Man Infraconstruction Ltd 3,446 Cr. 85.4 192/77.114.7 54.21.05 %23.5 %17.5 % 2.00
AGI Infra Ltd 3,609 Cr. 289 322/13743.0 27.60.03 %22.0 %25.7 % 1.00
HG Infra Engineering Ltd 3,112 Cr. 478 1,275/4308.15 4740.42 %16.8 %18.3 % 10.0
Hubtown Ltd 2,647 Cr. 186 366/15020.5 1840.00 %8.13 %2.41 % 10.0
Ajmera Realty & Infra India Ltd 2,066 Cr. 105 221/98.017.3 64.10.86 %12.7 %12.0 % 2.00
Industry Average3,374.20 Cr159.1236.56125.440.20%16.37%21.40%21.58

All Competitor Stocks of Man Infraconstruction Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 457680510215242297342230242294183149153
Expenses 328556401151139247258203181187142112121
Operating Profit 1291241096410350842861106413733
OPM % 28%18%21%30%42%17%24%12%25%36%22%25%21%
Other Income 16151628314236413337454645
Interest 1514967124335322
Depreciation 3322332222234
Profit before tax 12712211483123771136389136807872
Tax % 28%25%23%21%30%16%25%25%5%28%27%23%28%
Net Profit 91928765876584478497586052
EPS in Rs 2.282.202.221.882.241.762.091.202.232.051.441.371.16

Last Updated: March 3, 2026, 11:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3972752264526523712674279611,8901,2631,108779
Expenses 3812451913434532712693317141,476937807562
Operating Profit 172935109199101-297248414326301216
OPM % 4%11%16%24%31%27%-1%23%26%22%26%27%28%
Other Income 456633514446322620253116123173
Interest 172140565457586258351512
Depreciation 121288877991110811
Profit before tax 48753911217985-3455379397397401366
Tax % 36%35%60%42%39%50%-64%40%21%27%24%22%
Net Profit 3149156610943-1233299289303313267
EPS in Rs 0.781.280.471.431.791.13-0.190.865.836.968.097.536.02
Dividend Payout % 23%14%215%25%20%75%-191%70%22%13%20%12%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)58.06%-69.39%340.00%65.15%-60.55%-127.91%375.00%806.06%-3.34%4.84%3.30%
Change in YoY Net Profit Growth (%)0.00%-127.45%409.39%-274.85%-125.70%-67.36%502.91%431.06%-809.41%8.19%-1.54%

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

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 4, 2025, 1:37 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 50505050505050507474747581
Reserves 5495885526056396446206257851,0151,3891,6882,105
Borrowings 821582833054374504055065572061313631
Other Liabilities 202148139239226202224275300486560378329
Total Liabilities 8839431,0241,1981,3511,3471,2981,4561,7161,7812,1542,1772,547
Fixed Assets 58433740348381596061534964
CWIP 781251301301301320120000
Investments 3112011516897242263150113277272458
Other Assets 7176557428611,0901,1081,1951,3331,5041,6071,8241,8562,024
Total Assets 8839431,0241,1981,3511,3471,2981,4561,7161,7812,1542,1772,547

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 40-45-16994-169168878187448573133
Cash from Investing Activity + -1075063-598711983-8428-102-397-115
Cash from Financing Activity + 776118-1744-129-13720-91-458-28-116
Net Cash Flow 10111218-3963414123-111148-98
Free Cash Flow -35-77-179131-170-493107191441579130
CFO/OP 326%-72%-430%123%-48%58%-5,254%107%114%127%199%71%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-65.00-129.00-248.00-196.00-238.00-349.00-407.00-409.00-309.00208.00195.00265.00

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 13118219977541321128948644229
Inventory Days 839151,3981,4895,3442,2111,545837186743950
Days Payable 15825234024139625730119597181141
Cash Conversion Cycle 568451991,1341,3025,0812,0661,334690153604838
Working Capital Days 30037743319122441371335919594194350
ROCE %7%8%7%15%21%12%2%10%33%32%28%24%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 67.12%67.12%67.15%67.19%67.31%67.31%67.18%66.62%66.65%65.10%62.29%62.43%
FIIs 0.44%2.39%3.72%3.50%3.55%3.57%3.71%4.56%3.81%4.28%5.21%3.92%
DIIs 1.62%1.67%2.10%2.09%2.10%2.09%1.69%2.15%2.16%2.12%2.03%2.03%
Public 30.81%28.81%27.02%27.19%27.04%27.04%27.40%26.66%27.37%28.49%30.47%31.61%
No. of Shareholders 70,94866,72574,56978,87487,45896,7111,08,1991,00,98399,60194,50492,48990,678

Shareholding Pattern Chart

No. of Shareholders

Man Infraconstruction 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 Small Cap Fund 6,030,000 0.24 66.386,030,0002025-04-22 17:25:270%
Quant Value Fund 1,750,000 1.23 19.27N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 7.598.096.965.831.29
Diluted EPS (Rs.) 7.598.096.965.831.29
Cash EPS (Rs.) 9.197.927.968.261.67
Book Value[Excl.RevalReserv]/Share (Rs.) 46.9940.8530.8525.0428.02
Book Value[Incl.RevalReserv]/Share (Rs.) 46.9940.8530.8525.0428.02
Revenue From Operations / Share (Rs.) 29.5334.0350.9225.9017.26
PBDIT / Share (Rs.) 11.9211.4012.4412.094.91
PBIT / Share (Rs.) 11.7011.1312.1411.834.54
PBT / Share (Rs.) 11.3110.1810.5610.172.18
Net Profit / Share (Rs.) 8.967.657.658.011.30
NP After MI And SOA / Share (Rs.) 7.538.096.965.831.29
PBDIT Margin (%) 40.3733.4924.4346.6628.42
PBIT Margin (%) 39.6232.7023.8345.6926.28
PBT Margin (%) 38.2929.9220.7439.2612.61
Net Profit Margin (%) 30.3622.4915.0330.917.51
NP After MI And SOA Margin (%) 25.5123.7713.6722.507.49
Return on Networth / Equity (%) 16.0320.5223.7325.174.74
Return on Capital Employeed (%) 23.6025.7738.4133.3010.97
Return On Assets (%) 12.9813.9414.5112.602.19
Long Term Debt / Equity (X) 0.000.040.010.430.47
Total Debt / Equity (X) 0.020.080.180.640.68
Asset Turnover Ratio (%) 0.510.640.510.180.10
Current Ratio (X) 6.003.422.303.542.58
Quick Ratio (X) 4.332.511.672.411.65
Inventory Turnover Ratio (X) 2.141.011.980.250.23
Dividend Payout Ratio (NP) (%) 11.8820.0212.9214.4169.57
Dividend Payout Ratio (CP) (%) 11.5419.3712.3813.8154.09
Earning Retention Ratio (%) 88.1279.9887.0885.5930.43
Cash Earning Retention Ratio (%) 88.4680.6387.6286.1945.91
Interest Coverage Ratio (X) 30.3412.057.907.272.08
Interest Coverage Ratio (Post Tax) (X) 23.829.095.865.811.55
Enterprise Value (Cr.) 5277.577220.212491.984135.551299.92
EV / Net Operating Revenue (X) 4.765.711.324.303.04
EV / EBITDA (X) 11.8017.065.409.2210.71
MarketCap / Net Operating Revenue (X) 5.046.001.344.022.42
Retention Ratios (%) 88.1179.9787.0785.5830.42
Price / BV (X) 3.175.182.324.501.53
Price / Net Operating Revenue (X) 5.046.001.344.022.42
EarningsYield 0.050.030.100.050.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Man Infraconstruction Ltd. is a Public Limited Listed company incorporated on 16/08/2002 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L70200MH2002PLC136849 and registration number is 136849. Currently Company is involved in the business activities of Construction of buildings carried out on own-account basis or on a fee or contract basis. Company's Total Operating Revenue is Rs. 394.73 Cr. and Equity Capital is Rs. 75.06 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & Engineering12th Floor, Krushal Commercial Complex, Above Shoppers Stop, Mumbai Maharashtra 400089Contact not found
Management
NamePosition Held
Mr. Parag ShahChairman Emeritus & Non Executive Director
Mr. Berjis DesaiChairman & Non-Exe.Director
Mr. Manan P ShahManaging Director
Mr. Ashok M MehtaWholeTime Director & CFO
Mrs. Kavita B UpadhyayInd. Non-Executive Director
Dr. Kshitija WadatkarInd. Non-Executive Director

FAQ

What is the intrinsic value of Man Infraconstruction Ltd and is it undervalued?

As of 13 April 2026, Man Infraconstruction Ltd's intrinsic value is ₹76.97, which is 9.87% lower than the current market price of ₹85.40, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (17.5 %), book value (₹54.2), dividend yield (1.05 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Man Infraconstruction Ltd?

Man Infraconstruction Ltd is trading at ₹85.40 as of 13 April 2026, with a FY2026-2027 high of ₹192 and low of ₹77.1. The stock is currently near its 52-week low. Market cap stands at ₹3,446 Cr..

How does Man Infraconstruction Ltd's P/E ratio compare to its industry?

Man Infraconstruction Ltd has a P/E ratio of 14.7, which is below the industry average of 36.56. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Man Infraconstruction Ltd financially healthy?

Key indicators for Man Infraconstruction Ltd: ROCE of 23.5 % indicates efficient capital utilization; ROE of 17.5 % shows strong shareholder returns. Dividend yield is 1.05 %.

Is Man Infraconstruction Ltd profitable and how is the profit trend?

Man Infraconstruction Ltd reported a net profit of ₹313 Cr in Mar 2025 on revenue of ₹1,108 Cr. Compared to ₹299 Cr in Mar 2022, the net profit shows an improving trend.

Does Man Infraconstruction Ltd pay dividends?

Man Infraconstruction Ltd has a dividend yield of 1.05 % at the current price of ₹85.40. The company pays dividends, though the yield is modest.

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 Man Infraconstruction 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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