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

Manav Infra Projects Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹79.39Undervalued by 108.92%vs CMP ₹38.00

P/E (14.6) × ROE (103.0%) × BV (₹6.47) × DY (2.00%)

₹49.11Undervalued by 29.24%vs CMP ₹38.00
MoS: +22.6% (Adequate)Confidence: 48/100 (Moderate)Models: 2 Under, 1 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹115.8326%Under (+204.8%)
Graham NumberEarnings₹19.4516%Over (-48.8%)
Earnings PowerEarnings₹3.4313%Over (-91%)
DCFCash Flow₹58.2713%Under (+53.3%)
Net Asset ValueAssets₹6.488%Over (-82.9%)
EV/EBITDAEnterprise₹41.5410%Fair (+9.3%)
Earnings YieldEarnings₹26.008%Over (-31.6%)
Revenue MultipleRevenue₹18.626%Over (-51%)
Consensus (8 models)₹49.11100%Undervalued
Key Drivers: EPS CAGR 45.9% lifts DCF — verify sustainability. | Wide model spread (₹3–₹116) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 45.9%

*Investments are subject to market risks

Investment Snapshot

65
Manav Infra Projects Ltd scores 65/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health56/100 · Moderate
ROCE 39.9% ExcellentROE 103.0% ExcellentD/E 37.63 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
Promoter holding at 68.8% Stable
Earnings Quality65/100 · Strong
OPM expanding (-5% → 22%) Improving
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +97% YoY AcceleratingOPM: 12.3% (down 5.6% YoY) Margin pressure
Industry Rank100/100 · Strong
P/E 14.6 vs industry 36.6 Cheaper than peersROCE 39.9% vs industry 16.4% Above peersROE 103.0% vs industry 21.4% Above peers3Y sales CAGR: 66% High growth

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.

Manav Infra Projects Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 14.6 vs Ind 36.6 | ROCE 39.9% | ROE 103.0% | CFO/NP N/A
Balance Sheet Stress
50/100
Manageable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 37.63x | IntCov 0.0x | Current 0.93x | Borrow/Reserve N/A
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹3 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
-100
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -48.0% | Q NP -86.4% | Q OPM -8.9 pp
Derived FieldValueHow it is derived
Valuation Gap %+29.2%((Fair Value - CMP) / CMP) × 100
Borrowings / ReservesN/ALatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+10Latest shareholder count minus previous count
Quarterly Sales Change-48.0%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-86.4%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-8.9 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:18 am

Market Cap 50.0 Cr.
Current Price 38.0
Intrinsic Value₹49.11
High / Low 45.0/11.0
Stock P/E14.6
Book Value 6.47
Dividend Yield0.00 %
ROCE39.9 %
ROE103 %
Face Value 10.0
PEG Ratio0.32

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

View Share Price Target for Manav Infra Projects Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Manav Infra Projects Ltd 50.0 Cr. 38.0 45.0/11.014.6 6.470.00 %39.9 %103 % 10.0
Man Infraconstruction Ltd 3,446 Cr. 85.4 192/77.114.7 54.21.05 %23.5 %17.5 % 2.00
Univastu India Ltd 222 Cr. 61.8 107/56.014.3 24.30.00 %26.6 %15.8 % 10.0
Arihant Foundations & Housing Ltd 948 Cr. 952 1,513/69014.0 3450.00 %19.5 %16.5 % 10.0
IITL Projects Ltd 21.5 Cr. 43.0 73.9/36.015.6 2.120.00 %16.6 %% 10.0
Industry Average3,374.20 Cr159.1236.56125.440.20%16.37%21.40%21.58

All Competitor Stocks of Manav Infra Projects Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 4.414.232.482.572.193.204.408.575.528.806.3518.149.43
Expenses 4.626.934.114.804.334.834.534.834.536.524.8714.308.27
Operating Profit -0.21-2.70-1.63-2.23-2.14-1.63-0.133.740.992.281.483.841.16
OPM % -4.76%-63.83%-65.73%-86.77%-97.72%-50.94%-2.95%43.64%17.93%25.91%23.31%21.17%12.30%
Other Income 0.030.290.000.010.01-0.010.000.120.000.000.000.150.22
Interest 0.730.680.700.630.460.770.710.750.630.560.710.820.45
Depreciation 1.071.080.810.780.540.530.370.710.240.260.540.290.54
Profit before tax -1.98-4.17-3.14-3.63-3.13-2.94-1.212.400.121.460.232.880.39
Tax % 0.00%-5.76%0.00%0.00%0.00%-3.06%0.00%24.17%25.00%26.03%8.70%-4.51%-5.13%
Net Profit -1.97-3.93-3.13-3.63-3.13-2.85-1.201.820.091.070.213.010.41
EPS in Rs -1.44-2.87-2.28-2.65-2.28-2.08-0.881.330.070.780.152.290.31

Last Updated: December 30, 2025, 1:37 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 5:00 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 11.9714.8416.4418.0820.8715.538.625.055.3911.9514.3124.5027.57
Expenses 9.0314.3914.5015.8917.6411.9911.347.937.239.1311.0119.1422.57
Operating Profit 2.940.451.942.193.233.54-2.72-2.88-1.842.823.305.365.00
OPM % 24.56%3.03%11.80%12.11%15.48%22.79%-31.55%-57.03%-34.14%23.60%23.06%21.88%18.14%
Other Income 0.001.39-0.030.220.260.020.14-0.95-0.070.10-0.030.100.37
Interest 1.480.650.891.051.201.381.411.341.241.461.191.531.27
Depreciation 1.060.820.600.571.031.802.151.591.070.710.500.830.83
Profit before tax 0.400.370.420.791.260.38-6.14-6.76-4.220.751.583.103.27
Tax % 50.00%100.00%-45.24%-30.38%-0.79%-15.79%-3.91%-2.51%-2.13%21.33%26.58%-3.55%
Net Profit 0.210.000.611.031.270.44-5.90-6.59-4.130.601.163.223.42
EPS in Rs 0.520.001.522.580.930.32-4.31-4.81-3.010.440.852.452.60
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-100.00%68.85%23.30%-65.35%-1440.91%-11.69%37.33%114.53%93.33%177.59%
Change in YoY Net Profit Growth (%)0.00%168.85%-45.55%-88.66%-1375.55%1429.21%49.02%77.20%-21.19%84.25%

Manav Infra Projects Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 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 2.002.002.002.006.846.846.846.846.846.846.8413.1613.16
Reserves 2.242.252.823.855.796.220.06-6.53-10.66-10.06-8.91-5.06-4.64
Borrowings 7.342.583.313.636.6211.2611.5911.3611.979.839.387.297.24
Other Liabilities 3.524.275.703.552.973.132.702.522.072.983.906.242.40
Total Liabilities 15.1011.1013.8313.0322.2227.4521.1914.1910.229.5911.2121.6318.16
Fixed Assets 2.481.871.372.303.747.015.553.792.481.671.663.334.88
CWIP 2.310.000.000.000.000.000.000.000.000.000.000.000.00
Investments 0.000.000.000.070.060.060.060.060.060.000.150.001.35
Other Assets 10.319.2312.4610.6618.4220.3815.5810.347.687.929.4018.3011.93
Total Assets 15.1011.1013.8313.0322.2227.4521.1914.1910.229.5911.2121.6318.16

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3.742.920.23-0.49-3.433.901.751.031.123.370.362.65
Cash from Investing Activity + -0.133.48-0.13-1.96-2.96-5.87-0.681.610.590.06-0.61-2.45
Cash from Financing Activity + -1.97-5.790.34-1.476.121.95-1.11-2.37-1.93-3.470.336.68
Net Cash Flow 1.630.610.45-3.92-0.26-0.02-0.040.27-0.22-0.040.086.88
Free Cash Flow 3.616.400.10-1.75-5.67-1.171.071.031.363.47-0.130.15
CFO/OP 135%702%38%-22%-106%113%-64%-36%-61%125%24%49%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-4.40-2.13-1.37-1.44-3.39-7.72-14.31-14.24-13.81-7.01-6.08-1.93

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 78.9871.82116.78107.40159.85253.36269.30256.58242.43104.15116.8289.98
Inventory Days 0.000.00155.61242.15641.34385.760.000.000.000.00
Days Payable 254.20106.83252.69256.02
Cash Conversion Cycle 78.9871.82116.788.82295.17253.36657.95386.32242.43104.15116.8289.98
Working Capital Days 128.38-29.274.4462.18178.74229.15211.29-60.71-268.16-146.31-60.45-1.49
ROCE %16.05%-3.91%17.91%20.90%15.45%8.17%-21.35%-29.58%-29.26%28.73%40.23%39.91%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Promoters 73.13%73.13%73.13%73.13%73.13%73.13%73.13%73.13%73.13%73.13%68.84%68.84%
Public 26.86%26.88%26.87%26.87%26.87%26.87%26.87%26.87%26.87%26.87%31.16%31.16%
No. of Shareholders 293284270267281273259248232224238248

Shareholding Pattern Chart

No. of Shareholders

Manav Infra Projects Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.661.690.88-6.04-0.96
Diluted EPS (Rs.) 4.661.690.88-6.04-0.96
Cash EPS (Rs.) 3.082.421.91-4.47-7.32
Book Value[Excl.RevalReserv]/Share (Rs.) 6.16-3.03-4.72-5.590.44
Book Value[Incl.RevalReserv]/Share (Rs.) 6.16-3.03-4.72-5.590.44
Revenue From Operations / Share (Rs.) 18.6120.9317.487.897.39
PBDIT / Share (Rs.) 4.154.784.27-2.79-5.61
PBIT / Share (Rs.) 3.524.043.23-4.36-7.93
PBT / Share (Rs.) 2.362.301.10-6.17-9.89
Net Profit / Share (Rs.) 2.441.690.87-6.04-9.64
PBDIT Margin (%) 22.3022.8224.43-35.42-75.92
PBIT Margin (%) 18.9219.3118.50-55.32-107.34
PBT Margin (%) 12.6711.006.31-78.27-133.83
Net Profit Margin (%) 13.138.075.00-76.53-130.47
Return on Networth / Equity (%) 39.71-55.83-18.540.00-2184.14
Return on Capital Employeed (%) 33.47112.23-1028.97-249.43-90.18
Return On Assets (%) 14.8710.316.23-40.36-46.45
Long Term Debt / Equity (X) 0.70-2.19-0.93-1.3118.92
Total Debt / Equity (X) 0.90-4.53-1.40-3.1337.63
Asset Turnover Ratio (%) 1.491.381.210.440.28
Current Ratio (X) 1.880.740.510.560.93
Quick Ratio (X) 1.880.740.510.560.65
Interest Coverage Ratio (X) 3.572.752.00-1.54-2.87
Interest Coverage Ratio (Post Tax) (X) 3.101.971.41-2.34-3.92
Enterprise Value (Cr.) 14.1324.6612.4816.4914.57
EV / Net Operating Revenue (X) 0.571.721.043.062.88
EV / EBITDA (X) 2.597.554.28-8.63-3.80
MarketCap / Net Operating Revenue (X) 0.561.070.660.840.69
Price / BV (X) 1.71-7.43-2.48-1.2011.56
Price / Net Operating Revenue (X) 0.561.070.660.840.69
EarningsYield 0.230.070.07-0.90-1.89

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Manav Infra Projects Ltd. is a Public Limited Listed company incorporated on 08/06/2009 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L45200MH2009PLC193084 and registration number is 193084. Currently company belongs to the Industry of Construction, Contracting & Engineering. Company's Total Operating Revenue is Rs. 24.50 Cr. and Equity Capital is Rs. 13.16 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & Engineering102, Gundecha Industrial � Complex Akurli Road, Mumbai Maharashtra 400101Contact not found
Management
NamePosition Held
Mr. Mahendra RajuChairman & Managing Director
Mr. Dinesh YadavExecutive Director
Ms. Mahalakshmi RajuNon Executive Director
Mr. Mohan PaiIndependent Director
Mr. Atul PurohitIndependent Director
Mr. Vipul Vishnu AwaghadeAddnl. & Ind.Director

FAQ

What is the intrinsic value of Manav Infra Projects Ltd and is it undervalued?

As of 05 April 2026, Manav Infra Projects Ltd's intrinsic value is ₹49.11, which is 29.24% higher than the current market price of ₹38.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (103 %), book value (₹6.47), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Manav Infra Projects Ltd?

Manav Infra Projects Ltd is trading at ₹38.00 as of 05 April 2026, with a FY2026-2027 high of ₹45.0 and low of ₹11.0. The stock is currently near its 52-week high. Market cap stands at ₹50.0 Cr..

How does Manav Infra Projects Ltd's P/E ratio compare to its industry?

Manav Infra Projects Ltd has a P/E ratio of 14.6, 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 Manav Infra Projects Ltd financially healthy?

Key indicators for Manav Infra Projects Ltd: ROCE of 39.9 % indicates efficient capital utilization; ROE of 103 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Manav Infra Projects Ltd profitable and how is the profit trend?

Manav Infra Projects Ltd reported a net profit of ₹3 Cr in Mar 2025 on revenue of ₹25 Cr. Compared to ₹-4 Cr in Mar 2022, the net profit shows an improving trend.

Does Manav Infra Projects Ltd pay dividends?

Manav Infra Projects Ltd has a dividend yield of 0.00 % at the current price of ₹38.00. The company is currently not paying meaningful dividends.

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 Manav Infra Projects 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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