Small Infrastructure

Afcons Infrastructure Ltd.

AFCONS

₹425.8

0.46% (1.95)

Market Cap

₹15,581 Cr.

P/E

32.01

Afcons Infrastructure Ltd.
Overview
Financials
Benchmarking
Shareholding

Afcons Infrastructure Ltd.

Afcons Infrastructure Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Afcons Infrastructure Ltd. Shareprice

Has the share price of Afcons Infra grown faster than its competition?

There is not enough historical data for the companies share price.

Is Afcons Infra stock expensive?

Afcons Infra is not expensive.
Latest PE of Afcons Infra is 32.01, while 3 year average PE is 38.57.
Also latest EV/EBITDA of Afcons Infra is 12.56 while 3yr average is 16.51.

View FAQ's On Business

Growth Table

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	—	—	—	—	—	—	—	—	—	—
TTM EPS CAGR	—	—	—	—	—	—	—	—	—	—
Sales CAGR	—	—	—	—	—	—	—	—	—	—
PAT Margin (Abs Growth)	0.14	0.14	1.58	0.90	0.70	0.88	0.97	1.59	2.04	2.02
PE CAGR	—	—	—	—	—	—	—	—	—	—
CFO CAGR	-41.80	7.65	-8.68	-9.39	-1.42	-0.13	4.83	17.95	14.17	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	6,974	7,230	8,306	10,594	13,317	12,728	13,327	14,681	16,595	17,119
Non Current Assets	2,308	2,519	2,575	3,677	4,804	4,639	5,080	5,438	5,426	5,763
Net Block	1,490	1,632	1,601	1,691	1,938	2,003	2,318	2,498	2,784	2,632
Capital Work in Progress	124	20.80	21.74	30.54	17.94	146	17.53	184	43.07	32.85
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	103	100	2.94	3.15	0.15	0.40	0.89	0.51	0.78	0.78
Current Assets	4,550	4,571	5,567	6,737	8,300	7,877	8,118	9,144	11,066	11,356
Inventory	529	559	558	857	1,067	938	1,270	1,586	1,627	1,010
Accounts Receivable	511	765	1,431	2,054	2,475	2,575	2,304	2,197	3,121	2,779
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	156	189	154	343	639	711	526	377	666	771
Liabilities	6,974	7,230	8,306	10,594	13,317	12,728	13,327	14,681	16,595	17,119
Shareholders Funds	1,507	1,623	1,791	2,023	2,243	2,390	2,712	3,176	3,596	5,261
Share Capital	521	522	522	522	522	522	522	522	341	368
Reserves	986	1,101	1,269	1,501	1,721	1,868	2,190	2,654	3,255	4,893
Non Current Liabilities	1,346	1,715	2,134	3,091	3,644	3,148	3,175	3,085	3,024	3,522
Secured Loans	558	431	406	400	373	473	402	596	598	—
Unsecured Loans	300	400	350	250	200	—	—	—	—	595
Current Liabilities	4,119	3,893	4,391	5,496	7,444	7,200	7,449	8,419	9,974	8,335
Accounts Payable	1,277	1,487	1,843	2,496	3,361	2,976	2,697	3,508	4,326	3,541
Short Term Loans	1,020	1,068	769	855	953	834	1,009	775	1,620	1,640

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	4,337	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,267	13,030
Operating Expenses	3,900	5,728	5,937	8,023	9,124	8,513	10,083	11,327	11,902	11,673
Raw Material	1,269	2,171	1,942	2,116	2,677	2,545	3,176	3,852	4,012	7,833
Material Cost (%)	29.26	34.43	29.64	24.24	26.95	27.14	28.83	30.48	30.24	60.12
Employee Cost	523	674	754	823	971	924	1,085	1,298	1,383	1,419
Power & Fuel Cost	6.38	8.11	11.86	8.24	10.45	11.19	11.31	18.42	22.98	—
Operating Profit	436	577	614	704	810	862	936	1,311	1,365	1,357
Other Income	137	101	137	149	197	146	251	207	379	588
OPM (%)	10.06	9.15	9.38	8.06	8.16	9.20	8.50	10.37	10.29	10.42
Depreciation and Amortisation	156	169	201	249	240	250	355	472	495	506
Interest	270	302	306	285	391	468	425	447	577	658
Profit Before Tax	148	207	244	319	376	291	407	599	673	781
Tax	69.95	54.15	80.02	84.82	128	121	48.95	188	223	241
Net Profit	78.59	154	174	240	246	167	356	411	450	540
Number of shares(Crs)	—	—	—	—	—	—	—	—	—	—
Dividend Payout Ratio(%)	27.04	14.00	14.51	10.49	10.26	15.09	7.07	7.01	18.94	—

TTM Values as of Mar 2025

Cash Flow

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	189	508	713	760	1,050	929	610	1,215	707	-132
Profit Before Tax	148	207	244	319	376	291	407	599	673	710
Adjustments	296	387	564	482	646	881	699	817	961	921
OCF Before Working Capital	444	594	808	802	1,022	1,171	1,105	1,417	1,633	1,631
Working Capital Changes	-239	-36.75	-38.55	76.31	150	-194	-378	-101	-676	-1,523
Taxes Paid	-15.89	-48.76	-56.15	-118	-122	-47.86	-116	-99.90	-250	-240
Cash from Investing Activity	-179	-137	-69.53	-216	-390	-278	-251	-870	-859	-131
Net Fixed Assets Purchased	-232	-203	-190	-355	-398	-488	-352	-910	-682	-338
Fixed Assets Purchased	-236	-210	-196	-362	-410	-493	-357	-919	-716	-344
Fixed Assets Sold	4.56	7.01	6.81	7.46	11.90	4.52	5.13	9.03	34.04	6.47
Investment Purchased	-3.78	-15.33	—	—	-91.00	—	-5.20	-63.56	-212	—
Investment Sold	—	—	106	2.99	2.69	37.04	22.76	74.35	9.25	—
Interest Recieved	54.36	64.08	3.06	127	26.81	165	54.04	11.49	16.50	273
Dividends Recieved	1.80	2.22	1.61	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-10.23	-354	-678	-353	-455	-564	-521	-483	246	290
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	155	-76.67	-42.34	-127	-110	78.97	-70.75	195	1.21	-2.45
Proceeds From Borrowings	552	190	100	169	—	175	204	374	202	227
Repayment From Borrowings	-397	-267	-143	-296	-110	-96.03	-275	-180	-200	-230
Interest Paid	-244	-299	-307	-287	-391	-465	-429	-448	-575	-627
Dividend Paid	-25.98	-25.98	-29.90	-25.19	-25.19	-25.19	-25.19	—	-28.79	-32.33
Net Cash Flow	-0.57	17.92	-34.11	191	205	87.72	-161	-137	94.41	26.39
Opening Cash & Cash Equivalents	143	142	160	126	317	523	613	447	319	413
Effect of FX	—	—	—	—	—	2.26	-4.26	9.51	-0.47	0.52
Closing Cash & Cash Equivalents	142	160	126	317	523	613	447	319	413	440
Net Capex (est)	232	203	190	355	398	488	352	910	682	338
Free Cash Flow (est)	-42.72	305	524	405	651	441	259	306	25.09	-470

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	0.31	0.98	1.03	1.14	1.07	0.97	0.96	0.92	0.90	0.95
Liquid Assets (Crs)	932	4,022	4,013	5,009	5,880	7,233	6,938	6,847	7,559	9,439
Current Liabilities (Crs)	2,974	4,119	3,893	4,391	5,496	7,444	7,200	7,449	8,419	9,974
Current Ratio	1.12	1.10	1.17	1.27	1.23	1.12	1.09	1.09	1.09	1.11
Current Assets (Crs)	3,318	4,550	4,571	5,567	6,737	8,300	7,877	8,118	9,144	11,066
Current Liabilities (Crs)	2,974	4,119	3,893	4,391	5,496	7,444	7,200	7,449	8,419	9,974
Interest Coverage Ratio	1.37	1.55	1.68	1.80	2.12	1.96	1.62	1.96	2.34	2.17
EBIT (Crs)	292	418	509	550	604	766	758	831	1,046	1,250
Interest Expenses (Crs)	213	270	302	306	285	391	468	425	447	577
Fixed Asset Turnover	2.44	1.96	2.51	2.49	2.94	2.93	2.55	2.55	2.57	2.35
Net Sales (Crs)	3,930	4,337	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,267
Fixed Assets (Crs)	1,610	2,213	2,511	2,634	2,964	3,391	3,678	4,317	4,918	5,653
Cash Conversion Cycle	-229	-173	-164	-221	-272	-281	-317	-209	-188	-239
Inventory Days	196	123	31.47	31.10	29.59	35.35	39.04	36.58	41.24	44.19
Days Receivable	39.73	39.38	36.91	61.18	72.88	83.20	98.31	80.81	64.99	73.15
Days Payable	465	335	232	313	374	399	455	326	294	356
Debt to Equity Ratio	1.51	1.37	1.24	0.93	0.81	0.72	0.66	0.57	0.49	0.68
Total Debt (Crs)	1,760	2,060	2,015	1,675	1,633	1,622	1,581	1,555	1,563	2,455
Shareholders Equity (Crs)	1,170	1,507	1,623	1,791	2,023	2,243	2,390	2,712	3,176	3,596
Free Cash Flow/Sales (%)	0.17	-0.99	4.84	7.99	4.64	6.56	4.70	2.35	2.42	0.19
Free Cash Flow(est) (Crs)	6.53	-42.72	305	524	405	651	441	259	306	25.09
Net Sales (Crs)	3,930	4,337	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,267
Profitability Ratios
Gross Margin (%)	80.10	70.74	65.57	70.36	75.76	73.05	72.86	71.17	69.52	69.76
Op Profit Margin (%)	7.40	10.06	9.15	9.38	8.06	8.16	9.20	8.50	10.37	10.29
Operating Profit (Crs)	431	574	678	751	853	1,007	1,008	1,187	1,517	1,744
Net Sales (Crs)	3,930	4,337	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,267
Net Profit Margin (%)	1.35	1.81	2.45	2.65	2.75	2.47	1.78	3.23	3.25	3.39
Net Profit (Crs)	52.90	78.59	154	174	240	246	167	356	411	450
Net Sales (Crs)	3,930	4,337	6,305	6,551	8,727	9,934	9,376	11,019	12,637	13,267
ROCE (%)	12.01	14.64	15.25	14.06	11.85	13.05	13.71	14.14	16.70	18.88
EBIT (Crs)	292	418	509	550	604	766	758	831	1,046	1,250
Capital Employed (Crs)	2,431	2,855	3,338	3,915	5,098	5,874	5,528	5,878	6,262	6,621
Return on Assets (%)	0.98	1.13	2.13	2.09	2.27	1.84	1.31	2.67	2.80	2.71
Net Profit (Crs)	52.90	78.59	154	174	240	246	167	356	411	450
Total Assets (Crs)	5,405	6,974	7,230	8,306	10,594	13,317	12,728	13,327	14,681	16,595
ROIC (%)	5.86	6.36	14.04	10.04	12.16	15.34	15.03	18.37	17.18	16.11
Op Profit after Taxes (Crs)	103	148	301	278	334	376	358	511	575	582
Invested Capital (Crs)	1,751	2,326	2,146	2,770	2,747	2,450	2,384	2,781	3,350	3,612
ROE (%)	4.52	5.21	9.50	9.69	11.87	10.95	6.99	13.14	12.94	12.51
Net Profit Margin (%)	1.35	1.81	2.45	2.65	2.75	2.47	1.78	3.23	3.25	3.39
Asset Turnover ratio	0.73	0.62	0.87	0.79	0.82	0.75	0.74	0.83	0.86	0.80
Equity Multiplier	4.62	4.63	4.46	4.64	5.24	5.94	5.33	4.91	4.62	4.61
Adjusted EPS	7.34	11.10	21.42	24.12	33.35	34.12	23.19	49.51	57.08	13.20
Valuation Ratios
P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Book	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/EBITDA	4.95	4.23	3.46	2.72	2.13	1.50	1.38	1.31	1.13	1.22
Dividend Yield (%)	—	—	—	—	—	—	—	—	—	—

Quarterly Results

Afcons Infrastructure Ltd.
Larsen & Toubro
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KEC International
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In Rs. Cr.	Sep'23	Dec'23	Mar'24	Sep'24	Dec'24	Mar'25
Net Sales	3,334	3,126	3,636	2,960	3,211	3,223
Operating Expenses	3,002	2,751	3,282	2,615	2,847	2,930
Increase/Decrease in Stock	0.00	0.00	0.00	0.00	0.00	0.00
Raw Material	993	2,167	2,609	877	2,163	2,185
Employee Cost	377	346	329	355	352	383
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	332	374	355	344	364	294
Other Income	99.87	56.36	173	130	121	164
Interest	157	129	176	164	169	150
PBDT	274	302	352	310	317	308
Depreciation and Amortization	114	124	146	120	117	124
Profit Before Tax	160	178	207	191	200	184
Tax	55.70	68.77	61.78	55.25	50.98	73.13
Profit After Tax	104	110	145	135	149	111
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	104	110	145	135	149	111
Quarterly Ratios
EPS	14.47	15.24	4.25	3.97	4.05	3.02
Operating Profit Margin	9.95	11.98	9.76	11.64	11.35	9.11
Net Profit Margin	3.12	3.51	3.98	4.58	4.64	3.44

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

41.20%

Implied Growth Rate over a 5 year period*

14.90%

Implied Growth Rate over a 10 year period*

6.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Rhapson method.

Learn how to use Reverse DCF

FAQs on Afcons Infrastructure Ltd. Financials

How strong is Afcons Infra balance sheet?

Balance sheet of Afcons Infra is moderately strong, But short term working capital might become an issue for this company.

Is the debt of Afcons Infra increasing or decreasing?

Yes, The net debt of Afcons Infra is increasing.
Latest net debt of Afcons Infra is ₹1,465 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹1,125 Crs.

Is the profitablity of Afcons Infra improving?

Yes, profit is increasing.
The profit of Afcons Infra is ₹540 Crs for TTM, ₹450 Crs for Mar 2024 and ₹411 Crs for Mar 2023.

Does Afcons Infra pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Afcons Infra latest dividend payout ratio is 18.94% and 3yr average dividend payout ratio is 11.01%

How has Afcons Infra allocated its funds?

Companies resources are allocated to majorly unproductive assets like Accounts Receivable

View FAQ's On Shareholding

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Afcons Infrastructure Ltd.

Afcons Infrastructure Ltd.

Has the share price of Afcons Infra grown faster than its competition?

Is Afcons Infra stock expensive?

How strong is Afcons Infra balance sheet?

Is the debt of Afcons Infra increasing or decreasing?

Is the profitablity of Afcons Infra improving?

Does Afcons Infra pay decent dividends?

How has Afcons Infra allocated its funds?

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