Companies›Industrials›Construction›Construction
NSE:IRCON

IRCON INTERNATIONAL LTD

Construction › Construction·NIFTY 500NIFTY MIDSMALLCAP 400NIFTY MIDSMALLCAP400 50:50NIFTY SMALLCAP 250+4
₹98.75
at close · 27 Oct 2026
▲ 1.16 (+1.19%)
ThemesRailways· coreSolar Energy· growing

Latest filings

  1. High Court pauses action in IRCON's Rs 72.41 crore GST dispute · Regulatory & Legal
  2. IRCON gets NSE waiver of fines for compliance delays across multiple quarters · Regulatory & Legal
  3. IRCON bags Rs 862.46 crore EPC order from East Central Railway · Business Updates
All filings ↓
Ask Nexa about IRCON INTERNATIONAL LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Constructs railway, highway and other civil infrastructure on an engineering, procurement and construction (EPC) basis as a government-owned Central Public Sector Enterprise under the Ministry of Railways, designated as a Navratna company. The business is split into two reporting segments: Domestic at ₹8,561.75 crores (95.4% of segment revenue) serving Indian Railways, NHAI and other Indian government clients, and International at ₹416.83 crores (4.6%) executing projects in Algeria, Myanmar, Bangladesh and Nepal for foreign governments. International projects typically deliver higher segment EBIT margins than domestic work. The company runs 11 subsidiaries and 7 joint ventures, plans ₹700-800 crores of equity/quasi-equity investment in SPVs and PPP projects in FY27, and is bidding on 107 tenders worth ₹48,000 crores. Costs are dominated by other operating expenses at 79.6% of revenue, with materials at 9.1%, employees at 2.9% and depreciation at 1.8%.

Revenue mix · reported segments
Domestic95.4%
International4.6%
Operating scale
Order book
₹24,984 crores (~2x annual revenue)31-Mar-2026
Order book mix
54% competitive bidding, 46% nomination; 92% domestic, 8% international31-Mar-2026
Railway share of order book
₹19,459 crores (78% of order book)31-Mar-2026
FY27 capex and SPV investment
₹700-800 crores (SPV/PPP), plus ₹50-60 crores routine capexFY27
Subsidiaries and JVs
11 subsidiaries, 7 joint venturesFY26
New Tripura smart grid order
₹763 crores total contract; IRCON share ₹198 crores (26% in JV)23-Jun-2026
Who pays it
Government of India (Ministry of Railways, NHAI, state electricity boards) and foreign governments (Algeria, Myanmar, Bangladesh, Nepal)
Biggest cost
Other operating expenses at 79.6% of revenue, largely subcontracting and project execution costs
Kind of business
Cyclical, government-owned civil construction EPC contractor dependent on public infrastructure spending
Where it sits
Navratna CPSE under Ministry of Railways; order book of ~2x annual revenue with dominant domestic railway exposure
Market Cap
₹9,287 Cr
P / E (TTM)
17.7×
EV / EBITDA
10.8×
Div Yield
2.23%
Growth
11.2%▲
Revenue 5y CAGR
PAT +8.6% · EBITDA +12.0%
Quality
10.4%·
ROCE (5y median)
ROE 12.7% (5y median) · margin 13.2%
Leverage
0.85·
Debt / Equity · moderate
Net debt ₹3,473 Cr
Revenue FY21→FY26
1.7×▲
Margin −0.8 pts
₹5,342 Cr → ₹9,071 Cr
Cash conversion
-0.65×▼
Operating cash ÷ profit · 5 yrs
₹-1,959 Cr on ₹3,020 Cr
Moves on a normal day
1.13%·
Median daily move
Last 268 sessions · the yardstick for filing-day moves
Where it sits among 110 Civil Construction peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#61/101
P/B#45/85
ROCE#71/107
ROE#46/87
Debt / Equity#71/87
EBITDA margin#38/88
Revenue growth#37/86
Profit growth#60/84

Scorecard

Measured from the filed financials, judged against its Civil Construction peers · as of FY26 — not investment advice

Strengths
Pays out 35% of profit as dividend
Concerns
Erratic profits — up in only 2 of the last 5 years
Carries more debt than its peers — 0.85× equity
higher than 81% of its 87 Civil Construction peers
Over 5 years it reported ₹3,020 Cr of profit and an operating cash outflow of ₹1,959 Cr — -0.65×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

IRCON · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

Loading peers…

Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

Loading financials…

Ownership

Who owns it — and is the promoter stake clean?

Loading shareholding…

Sign up to see the full company file

Governance, sustainability, compliance, earnings calls, presentations, events, reactions and the full filings feed — free with an account.

Common questions

Answered from IRCON INTERNATIONAL LTD's filed financials and exchange disclosures

What does IRCON INTERNATIONAL LTD do?

IRCON INTERNATIONAL LTD is a Construction company listed on NSE and BSE, trading under the symbol IRCON.

Is IRCON INTERNATIONAL LTD profitable?

Yes. Over the trailing twelve months IRCON INTERNATIONAL LTD reported a net profit of ₹520 Cr on revenue of ₹9,241 Cr.

Does IRCON INTERNATIONAL LTD pay a dividend?

Yes. The dividend yield is 2.23% at the current price. It paid out 35% of its profit as dividend in FY26.

Is IRCON INTERNATIONAL LTD debt-free?

No. It reported borrowings of ₹5,664 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹3,473 Cr after cash. Debt stands at 0.85× equity. That is higher than 81% of its 87 Civil Construction peers.

Is IRCON INTERNATIONAL LTD expensive compared with its peers?

On trailing P/E, IRCON INTERNATIONAL LTD ranks 61 of 101 in Civil Construction — cheaper than 40% of them, against an industry median of 13.5×. This is a position, not a valuation judgement.

How much does the IRCON INTERNATIONAL LTD share price move in a day?

On a typical session IRCON INTERNATIONAL LTD moves 1.13% — that is the median absolute close-to-close move across its last 268 trading days. MarketPing measures each filing's price reaction against it.

Where can I track IRCON INTERNATIONAL LTD's announcements?

Every NSE and BSE filing by IRCON INTERNATIONAL LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.