BSE: 531784
KCL Infra Projects Limited
Civil construction company listed on BSE. FY26 revenue stood at Rs 58.80 crore, all reported within a single business segment. The cost shape is heavily skewed to materials at 108.9% of FY26 revenue, while direct employee costs are just 0.9% — a pattern consistent with subcontracted project execution rather than a directly employed workforce. EBITDA margin on FY26 revenue was 5.25% and net profit Rs 1.66 crore. The corporate and operational office sits at KCL Business Park in Indore; the registered office has shifted to Mumbai. A disclosed lease arrangement with C3 Multi Speciality Hospital involved an increased security deposit of Rs 11 crore alongside a reduced monthly rent. Audit emphasis-of-matter notes flagged Rs 50 lakh of unpaid MSME dues (1–3 years old), Rs 2.69 crore in trade receivables outstanding more than three years, and Rs 4.32 crore of loans lacking supporting documentation. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Civil construction (100%). Small, single-segment civil construction; thin margins; asset-light direct workforce
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY19 |
|---|---|
| Revenue | 1 |
| Profit before tax | 0 |
| Net profit | 0 |
| EPS (₹) | 0.03 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LARSEN & TOUBRO LTD. | 4,98,723 | 30.1 | 3.88 | 18.2 | 14.7 | 11.9 | 16.0 | 12.5 |
| RAIL VIKAS NIGAM LIMITED | 39,032 | 43.4 | 3.98 | 28.1 | 8.9 | 7.5 | 5.8 | 7.5 |
| KALPATARU PROJECT INT LTD | 23,895 | 21.0 | 3.09 | 10.8 | 13.3 | 15.0 | 16.0 | 10.0 |
| IRB INFRA DEV LTD. | 21,100 | 16.2 | 1.01 | 9.8 | 4.1 | 2.5 | 7.6 | 55.6 |
| NBCC (INDIA) LIMITED | 19,980 | 27.0 | 6.21 | 16.4 | 23.1 | 29.7 | 13.5 | 9.6 |
| CEMINDIA PROJECTS LIMITED | 19,499 | 32.4 | 8.13 | 16.6 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 16,254 | 20.7 | 5.17 | 18.1 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 10,966 | 25.4 | 2.64 | 18.0 | 11.4 | 12.4 | 29.6 | 20.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 42.7 | 14.6 | 85 of 101 | 16% |
| EBITDA margin | 42.6 | 12.4 | 5 of 88 | 95% |
| Market cap | 22 | 468 | 101 of 107 | 6% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Reg 74(5) Compliance Certificate Filed for Sep 2026 Quarter | compliance | minimal | — | — |
| 1 Oct 2026 · 31st AGM results: 3 resolutions passed including auditor appointment | board shareholder meetings | low | — | — |
| 30 Sept 2026 · KCL Infra Projects holds 31st AGM, three ordinary resolutions tabled | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Outcome of 31st AGM - All three ordinary resolutions passed | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading Window Closure for Q2 Results | compliance | minimal | — | — |
| 9 Sept 2026 · KCL Infra announces 31st AGM and remote e-voting schedule | compliance | minimal | — | — |
| 7 Sept 2026 · KCL Infra Projects 31st AGM on 30 Sep 2026 via VC; auditor appointment for 5 years | board shareholder meetings | low | — | — |
| 7 Sept 2026 · KCL Infra reports sharp FY26 profit and revenue growth | investor communications | medium | — | — |
| 5 Sept 2026 · Remote e-voting facility for 31st AGM on 30 September 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · KCL Infra - Book Closure from 24 Sep to 30 Sep 2026 for 31st AGM | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.