BSE: 514332
NEO INFRACON LTD.
Operates as a small realty and construction firm listed on BSE, with a single reportable segment of Construction Activities and a smaller Trading Activities stream. For FY26, total revenue stood at Rs 7.9964 crores and EBITDA margin at 30.7%. Quarterly filings show Construction is the dominant revenue contributor, while Trading is a much smaller line. The largest input cost is materials at 62.7% of revenue, followed by other operating expenses at 10.8% and employee costs at 8.5%; depreciation is 3.0% and capex was nil. The company is small-scale, with paid-up capital of Rs 5.30 crores and net worth of Rs 7.13 crores as of FY25-26, and operates from a registered office in Mumbai. It was formerly known as Anuvin Industries Limited. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Construction Activities, Trading Activities. Small-cap, asset-light realty and construction services company with a dominant construction segment and minor trading line.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4 | 6 | 4 | 10 | 8 |
| EBITDA (ex other income) | (1) | (1) | — | 1 | 1 |
| margin % | (27.0) | (10.9) | — | 14.5 | 18.0 |
| Owners' profit | 1 | 0 | — | 0 | 0 |
| EPS, as reported (₹) | 1.78 | (0.31) | (0.24) | 1.48 | 1.69 |
| ROE % · ROCE % | 15.1 · 11.2 | (2.7) · 4.8 | — · 2.9 | 11.7 · 11.3 | 11.8 · 13.0 |
| Debt / equity (x) | 2.31 | 2.16 | — | 2.37 | 2.08 |
| Cash from operations | 7 | 3 | (2) | 2 | 1 |
| Capex | (1) | (1) | — | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 3 | 5 | 3 | 1 | 2 | 2 |
| Profit before tax | (0) | (0) | 0 | 1 | 0 | (0) | 0 | 1 |
| Net profit | — | (0) | 0 | 1 | 0 | (0) | 0 | 1 |
| EPS (₹) | (0.86) | (0.61) | 0.53 | 2.42 | 0.33 | 0.71 | 0.57 | 1.49 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Construction | 1 | 23.0 |
| Construction Activities | 3 | 66.6 |
| Trading Activities | 0 | 10.4 |
| Total, before eliminations | 4 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KESAR INDIA LIMITED | 3,089 | 82.0 | 12.40 | 67.0 | 12.0 | 15.2 | — | 26.9 |
| MEGHNA INFRACON INFRA L | 1,460 | 215.4 | 54.28 | 143.3 | 20.8 | 33.9 | — | 15.3 |
| India Homes Limited | 1,015 | — | 27.41 | — | (31.0) | (17.8) | — | — |
| B-RIGHT REALESTATE LIMITED | 954 | 26.6 | — | — | — | 19.2 | — | — |
| SHRADDHA PRIME PROJECTS L | 666 | 11.9 | 4.88 | 11.3 | 39.1 | 20.2 | — | 16.1 |
| YOGI LTD. | 656 | 31.5 | 4.61 | 25.6 | 14.9 | 15.6 | — | 5.1 |
| HAZOOR MULTI PROJECTS LTD | 409 | 5.5 | 0.66 | 3.1 | 6.8 | 5.8 | — | 86.5 |
| RDB INFRASTRUCTURE AND POWER L | 340 | 17.3 | 1.28 | 21.5 | 4.7 | 5.7 | 16.3 | 23.7 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.9 | 17.4 | 23 of 61 | 63% |
| P/B | 3.0 | 1.1 | 52 of 70 | 26% |
| ROCE | 6.4 | 1.9 | 22 of 88 | 76% |
| ROE | 11.8 | 1.6 | 12 of 73 | 85% |
| Debt / Equity | 2.1 | 0.3 | 64 of 73 | 13% |
| EBITDA margin | 57.8 | 15.3 | 14 of 59 | 78% |
| Revenue growth | (59.5) | (11.0) | 44 of 64 | 32% |
| Profit growth | (38.5) | (48.8) | 36 of 79 | 55% |
| Market cap | 23 | 30 | 55 of 88 | 38% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting to approve September quarter unaudited results | results | low | — | — |
| 23 Oct 2026 · Neo Infracon to acquire 54% stake in real estate partnership | strategic transactions | medium | — | — |
| 23 Oct 2026 · Board approves 54% stake in real estate partnership firm | strategic transactions | medium | — | — |
| 16 Oct 2026 · Board meeting on 23 Oct to consider investment under Section 186 | strategic transactions | medium | — | — |
| 3 Oct 2026 · RTA compliance certificate for Q2 FY27 dematerialization | compliance | minimal | — | — |
| 3 Oct 2026 · Company Secretary and Compliance Officer resigns from Neo Infracon | management changes | medium | — | — |
| 1 Oct 2026 · Promoter Bhavik N Mehta buys 7,787 shares of Neo Infracon via open market | ownership changes | high | — | — |
| 30 Sept 2026 · Promoter Group member Bhavik N Mehta buys 3,450 shares of Neo Infracon | ownership changes | high | — | — |
| 30 Sept 2026 · Promoter group member Bhavik N Mehta buys 3,100 shares of Neo Infracon | ownership changes | high | — | — |
| 26 Sept 2026 · Promoter Bhavik Mehta buys 3,000 shares of Neo Infracon via open market | ownership changes | high | — | — |
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.