Agi Infra Ltd. (AGIIL) AI Stock Analysis

• Market Cap: ₹29.77B
• Dividend Yield: 0.04%
• Average Volume (3M): 56.81K
• Price to Earnings (P/E): 38.7
• Beta (1Y): 1.24
• Revenue Growth: 16.12%
• EPS Growth: 36.94%
• Country: IN
• Employees: 342
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 1.80
• Shares Outstanding: 122,167,200
• 10 Day Avg. Volume: 56,033
• 30 Day Avg. Volume: 56,810
• PEG Ratio: 0.03
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 1.23
• P/FCF Ratio: -5.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: ₹284.00 ▲(6.63% Upside)

The score is driven primarily by strong income-statement profitability and solid balance-sheet leverage/returns, but it is meaningfully held back by negative operating and free cash flow. Technicals are supportive with the stock above major moving averages and positive momentum, while valuation remains a headwind due to the high P/E despite a moderate dividend yield.

Positive Factors

High Profitability & Margins

Sustained high gross and EBITDA margins point to strong pricing power and operational efficiency in project execution. These margins provide structural resilience through project cycles, enabling reinvestment in capabilities, supporting long-term earnings quality and competitive differentiation.

Consistent Revenue Growth

Mid-to-high single digit plus revenue growth reflects durable demand for infrastructure services and successful project wins. Persistent top-line expansion supports scale economics, backlog visibility and long-term contract pipeline strength across transportation, energy and urban development sectors.

Strong ROE with Moderate Leverage

High return on equity indicates efficient use of shareholders' capital, while moderate debt-to-equity suggests prudent leverage. This combination supports competitive bidding on projects without excessive financial strain, preserving capacity to pursue joint ventures and larger contracts.

Negative Factors

Negative Operating & Free Cash Flow

Material negative operating and free cash flows despite profitability signal cash conversion issues typical in construction: long receivable cycles and upfront working capital needs. This structural cash burn increases funding risk and may force reliance on external financing for growth and day-to-day operations.

Poor Cash Conversion (FCF/Income)

Earnings are not translating into cash, indicating working capital or timing inefficiencies. Over time this undermines financial flexibility, constrains self‑funded capex or dividend capacity, and raises the probability of issuing debt or equity to fund project pipelines and sustain operations.

Exposure to Public-Sector Contracting

Heavy reliance on government and large institutional contracts creates structural revenue concentration and payment/timing risk. Political cycles, procurement delays or policy shifts can produce lumpy awards and slower payments, magnifying cash flow volatility and backlog uncertainty over the medium term.

Agi Infra Ltd. Business Overview & Revenue Model

Company Description

Agi Infra Limited, together with its subsidiary, engages in the real estate and construction businesses in India. It primarily constructs and develops commercial building and residential housing projects in Punjab. The company also operates cold storage facilities that provide storing, trading, dealing, and distribution of vegetables, fruits, dry fruits, etc., as well as leases or rents the cold chain facilities. The company was formerly known as G. I. Builders Private Limited and changed its name to AGI Infra Limited in June 2012. Agi Infra Limited was incorporated in 2005 and is based in Jalandhar, India.

How the Company Makes Money

Agi Infra Ltd. generates revenue primarily through its construction and engineering services, which include the execution of large-scale public and private sector projects. Key revenue streams include contract payments for completed projects, consultancy fees for engineering services, and maintenance contracts for ongoing infrastructure. The company also benefits from strategic partnerships with government agencies and private firms, which often lead to joint ventures for significant infrastructure developments. Additionally, AGIIL may engage in bidding for government contracts, providing a reliable source of income as infrastructure spending increases. Factors such as market demand for infrastructure, government investments in public works, and the company's ability to secure contracts are critical to its financial performance.

Agi Infra Ltd. Financial Statement Overview

Summary

Strong profitability and growth (revenue up 11.13% YoY, net margin 20.52%, EBITDA margin 32.36%) and solid ROE (22.61%) are tempered by material cash flow weakness (operating cash flow -199.15M and free cash flow -678.27M), which raises liquidity and funding-risk concerns.

Income Statement

Agi Infra Ltd. has demonstrated strong revenue growth with a 11.13% increase from 2024 to 2025. The gross profit margin stands at 46.84%, and the net profit margin is 20.52%, indicating robust profitability. EBIT and EBITDA margins are healthy at 23.06% and 32.36%, respectively, reflecting efficient operational management.

Balance Sheet

The company's debt-to-equity ratio is 0.47, showing a moderate level of leverage. Return on equity is impressive at 22.61%, indicating effective use of equity to generate profits. The equity ratio is 24.64%, suggesting a stable financial structure with a solid equity base.

Cash Flow

The cash flow situation presents challenges, with a negative operating cash flow of -199.15 million and a free cash flow of -678.27 million in 2025. The free cash flow to net income ratio is negative, indicating cash flow constraints despite profitability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.25B	2.92B	2.41B	1.97B
Gross Profit	1.52B	1.26B	998.17M	869.03M
EBITDA	1.05B	845.99M	641.83M	524.95M
Net Income	666.64M	520.95M	481.14M	364.21M
Balance Sheet
Total Assets	11.96B	10.80B	7.59B	6.09B
Cash, Cash Equivalents and Short-Term Investments	272.10M	992.74M	443.35M	309.65M
Total Debt	1.37B	1.38B	489.66M	418.98M
Total Liabilities	9.02B	8.55B	5.87B	4.84B
Stockholders Equity	2.95B	2.25B	1.72B	1.26B
Cash Flow
Free Cash Flow	-678.27M	275.76M	676.49M	676.49M
Operating Cash Flow	-199.15M	614.60M	1.06B	1.06B
Investing Cash Flow	-386.70M	-880.77M	-762.58M	-762.58M
Financing Cash Flow	-141.47M	814.34M	-157.15M	-157.15M

Agi Infra Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 266.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AGIIL, the sentiment is Neutral. The current price of 266.35 is below the 20-day moving average (MA) of 270.03, below the 50-day MA of 268.01, and above the 200-day MA of 228.80, indicating a neutral trend. The MACD of -4.45 indicates Positive momentum. The RSI at 46.49 is Neutral, neither overbought nor oversold. The STOCH value of 31.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:AGIIL.

Agi Infra Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AGIIL	71 Outperform	₹29.77B	38.73	―	0.04%	16.12%	36.94%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ARVSMART	63 Neutral	₹24.20B	26.08	―	0.98%	13.62%	34.30%
GPTINFRA	61 Neutral	₹12.87B	14.35	―	1.80%	15.97%	28.83%
ARIHANTSUP	52 Neutral	₹11.68B	26.08	―	0.48%	16.36%	28.21%
UNITECH	40 Underperform	₹11.09B	-0.55	―	―	-10.36%	46.24%
OMAXE	39 Underperform	₹13.73B	-2.17	―	―	-22.30%	-8.72%

Agi Infra Ltd. Corporate Events

Agi Infra Launches Urbana Square Commercial Project in Jalandhar

Agi Infra Limited has launched a new commercial real estate project named Urbana Square in Village Pholriwal, Jalandhar, Punjab, expanding its portfolio in the region. The project, registered with the Punjab Real Estate Regulatory Authority, comprises 142 commercial shops and 218 office spaces, with bookings having commenced on January 3, 2026, signaling the company’s continued push into mixed-use commercial development to attract both domestic and international clientele in India.

Agi Infra Ltd. Secures Shareholder Approval for Strategic Resolutions

Agi Infra Ltd. announced the successful conclusion of its postal ballot process, where shareholders approved key resolutions. These include increasing the company’s authorized share capital, raising funds through equity shares or other securities, and increasing investment limits for non-resident Indians and overseas citizens. The approval of these resolutions is expected to enhance the company’s financial flexibility and attract more international investors, potentially strengthening its market position.

Agi Infra Limited Increases Authorized Share Capital to Boost Growth

Agi Infra Limited has announced an amendment to its Memorandum of Association, increasing its authorized share capital from Rs. 15 crore to Rs. 20 crore. This strategic move, approved by a resolution passed through a postal ballot, is aimed at enhancing the company’s financial capacity, potentially allowing for expanded operations and improved market positioning.

AGI Infra Limited Releases Investor Presentation for September 2025

AGI Infra Limited has released its Investor Presentation for the quarter and half-year ending September 30, 2025, in compliance with regulatory requirements. This presentation provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and offering valuable information for stakeholders.