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Afcons Infrastructure Limited
(AFCONS)
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Rating:50Neutral
Price Target:
₹317.00
▼(-5.13% Downside)
Action:N/A
Date:05/19/26
The score is held back primarily by weak fundamentals—sharp profit decline and persistent, worsening negative operating/free cash flow alongside rising debt. Technicals are mixed/neutral and do not offset the fundamental pressure, while valuation remains elevated (high P/E, low yield), limiting upside support.
Positive Factors
Diversified EPC services and market presence
Afcons’ end-to-end EPC capability across transport, marine, tunnels and water provides durable business diversification and lowers single-project concentration risk. Serving public and private clients in India and select international markets supports steady tender access and long-term revenue opportunities.
Negative Factors
Worsening cash generation
Persistent and deteriorating negative operating and free cash flow signals structural working-capital strain in project execution. Over 2–6 months this raises financing dependence, constrains reinvestment, and increases liquidity risk, especially if certified billings or retention timings do not improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified EPC services and market presence
Afcons’ end-to-end EPC capability across transport, marine, tunnels and water provides durable business diversification and lowers single-project concentration risk. Serving public and private clients in India and select international markets supports steady tender access and long-term revenue opportunities.
Read all positive factors
Afcons Infrastructure Limited (AFCONS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹114.95B
Dividend Yield0.65%
Average Volume (3M)33.30K
Price to Earnings (P/E)46.2
Beta (1Y)1.37
Revenue Growth-4.78%
EPS Growth-50.23%
CountryIN
Employees3,793
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)5.87
Shares Outstanding367,784,640
10 Day Avg. Volume34,072
30 Day Avg. Volume33,305
Financial Highlights & Ratios
PEG Ratio-0.82
Price to Book (P/B)1.83
Price to Sales (P/S)0.84
P/FCF Ratio-9.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹305.00Price Target Upside-8.72% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)10.3
Revenue Forecast (FY)₹130.14B
Afcons Infrastructure Limited Business Overview & Revenue Model
Company Description
Afcons Infrastructure Ltd., along with its affiliated companies, operates in the infrastructure, engineering, and construction sectors across India and globally. The firm specializes in a diverse range of civil engineering projects, including mari...
How the Company Makes Money
AFCONS primarily makes money by executing infrastructure projects under contractual arrangements and recognizing revenue as it performs work (typically based on project progress/measurements or milestones, depending on contract terms). Its key rev...
Afcons Infrastructure Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
70
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 61.67B | 119.48B | 125.04B |
| Gross Profit | 20.22B | 21.51B | 39.68B |
| EBITDA | 7.30B | 15.14B | 16.62B |
| Net Income | 2.16B | 2.52B | 4.87B |
Balance Sheet | |||
| Total Assets | 179.34B | 191.31B | 171.19B |
| Cash, Cash Equivalents and Short-Term Investments | 8.22B | 8.86B | 6.62B |
| Total Debt | 35.65B | 36.27B | 23.43B |
| Total Liabilities | 125.43B | 136.80B | 118.57B |
| Stockholders Equity | 53.89B | 54.50B | 52.61B |
Cash Flow | |||
| Free Cash Flow | -8.43B | -10.52B | -4.77B |
| Operating Cash Flow | -3.96B | -6.80B | -1.32B |
| Investing Cash Flow | -4.22B | -5.19B | -1.31B |
| Financing Cash Flow | 4.94B | 11.43B | 2.90B |
Afcons Infrastructure Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹88.29B | 9.96 | ― | 1.20% | 13.58% | -11.01% | |
66 Neutral | ₹5.54T | 33.37 | ― | 0.84% | 11.79% | 15.95% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹65.12B | 30.08 | ― | ― | -29.16% | 44.18% | |
51 Neutral | ₹126.17B | 21.26 | ― | 1.56% | -15.69% | -18.10% | |
51 Neutral | ₹93.86B | 14.01 | ― | 1.37% | -6.20% | -17.64% | |
50 Neutral | ₹114.95B | 46.17 | ― | 0.65% | -4.78% | -50.23% |
* General Sector Average
IN:AFCONS
Afcons Infrastructure Limited
312.55
-108.71
-25.81%
IN:GRINFRA
G R Infraprojects Ltd.
912.45
-372.56
-28.99%
IN:HCC
Hindustan Construction Co. Ltd.
24.86
-4.63
-15.70%
IN:IRCON
IRCON International Ltd.
134.15
-59.14
-30.60%
IN:LT
Larsen & Toubro Limited
4,026.80
480.24
13.54%
IN:NCC
NCC Limited
149.50
-70.90
-32.17%
Afcons Infrastructure Limited Corporate Events
Afcons Confirms Proper Use of Commercial Paper Proceeds and Regulatory Compliance
Apr 20, 2026
Afcons Infrastructure Limited has certified to the BSE and NSE that proceeds from its commercial paper issuance bearing ISIN INE101I14ET6 for the quarter ended March 31, 2026 were used solely for the purposes originally disclosed to investors. The...
Afcons Says Surge in Share Volume Is Market-Driven, No Undisclosed Developments
Apr 16, 2026
Afcons Infrastructure Limited has clarified that the recent significant increase in trading volumes of its shares on the exchanges is not driven by any undisclosed corporate developments. The company stated it continues to make all required disclo...
Afcons shareholders clear material related-party deal with Shapoorji Pallonji Mideast
Apr 3, 2026
Afcons Infrastructure Limited has disclosed the results of a postal ballot conducted via remote e-voting to seek shareholder approval for a material related-party transaction with Shapoorji Pallonji Mideast LLC, a promoter group company. The resol...
Afcons Infrastructure to Contest ₹1.84 Crore Penalty Over MML5 Excavation Irregularities
Mar 21, 2026
Afcons Infrastructure Limited has disclosed that it received a penalty order from the Tehsildar of Thane, Maharashtra, imposing a fine of ₹1.84 crore. The penalty relates to alleged irregularities in earth excavation and removal activities i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.