IRCON International Ltd. (IN:IRCON)
:IRCON
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IRCON International Ltd.
(IRCON)
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Rating:51Neutral
Price Target:
₹142.00
▼(-20.56% Downside)
Action:Reiterated
Date:05/25/26
The score is driven primarily by mixed financial performance: profitability is intact, but recent revenue decline, margin compression, rising leverage, and consistently negative operating/free cash flow weigh heavily. Technical indicators also point to weak momentum with oversold signals but no clear reversal. Valuation is comparatively reasonable (P/E ~18.2, ~1.56% yield), offering some support but not enough to offset the fundamental and trend risks.
Positive Factors
State-owned market position
Government ownership and a core focus on railways provide durable competitive advantages: preferred access to public-sector contracts, strong client relationships with rail agencies, and lower counterparty risk. This supports steady project flow and contract visibility over the medium term.
Negative Factors
Top-line contraction
Sustained revenue decline reduces scale and limits fixed-cost absorption, pressuring margins and competitiveness in tendering. If top-line weakness persists, it can erode backlog quality, reduce bargaining power with suppliers, and impair long-term earnings resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
State-owned market position
Government ownership and a core focus on railways provide durable competitive advantages: preferred access to public-sector contracts, strong client relationships with rail agencies, and lower counterparty risk. This supports steady project flow and contract visibility over the medium term.
Read all positive factors
IRCON International Ltd. (IRCON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹131.86B
Dividend Yield1.56%
Average Volume (3M)274.33K
Price to Earnings (P/E)18.2
Beta (1Y)1.98
Revenue Growth-15.69%
EPS Growth-18.10%
CountryIN
Employees867
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)6.38
Shares Outstanding940,515,750
10 Day Avg. Volume157,468
30 Day Avg. Volume274,334
Financial Highlights & Ratios
PEG Ratio-1.01
Price to Book (P/B)1.63
Price to Sales (P/S)1.20
P/FCF Ratio-9.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7.1
Revenue Forecast (FY)₹90.36B
IRCON International Ltd. Business Overview & Revenue Model
Company Description
Ircon International Limited, together with its subsidiaries, provides construction services in India and internationally. The company's services include construction of new railway lines; rehabilitation/conversion of existing lines, station buildi...
How the Company Makes Money
IRCON primarily makes money by executing infrastructure projects under contract, earning revenue based on the value of work performed and certified under EPC/turnkey and item-rate contracts. Its key revenue streams typically include (1) Railway co...
IRCON International Ltd. Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.88B | 90.71B | 107.60B | 125.14B | 103.68B | 73.80B |
| Gross Profit | 10.75B | 6.80B | 12.11B | 15.42B | 10.42B | 9.11B |
| EBITDA | 8.73B | 7.66B | 8.40B | 11.30B | 7.02B | 5.98B |
| Net Income | 6.01B | 5.95B | 7.27B | 9.30B | 7.65B | 5.92B |
Balance Sheet | ||||||
| Total Assets | 202.19B | 213.07B | 195.21B | 174.45B | 155.37B | 144.46B |
| Cash, Cash Equivalents and Short-Term Investments | 81.04B | 51.76B | 51.92B | 55.04B | 52.47B | 55.22B |
| Total Debt | 51.38B | 57.26B | 42.99B | 25.70B | 15.05B | 13.99B |
| Total Liabilities | 137.28B | 146.36B | 131.59B | 115.39B | 103.13B | 97.80B |
| Stockholders Equity | 64.58B | 66.39B | 63.26B | 58.71B | 52.11B | 46.66B |
Cash Flow | ||||||
| Free Cash Flow | -4.13B | -10.98B | -21.58B | -6.01B | -2.68B | 13.65B |
| Operating Cash Flow | 885.20M | -5.65B | -11.10B | 2.48B | -1.68B | 14.05B |
| Investing Cash Flow | -9.66B | -7.31B | 319.20M | -11.71B | 14.68B | -12.27B |
| Financing Cash Flow | 5.68B | 11.14B | 11.56B | 7.79B | -2.23B | 6.71B |
IRCON International Ltd. Technical Analysis
Negative
178.75
Price Trends
139.94
Positive
148.25
Negative
157.30
Negative
Market Momentum
-1.20
Positive
42.34
Neutral
34.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IRCON, the sentiment is Negative. The current price of 178.75 is above the 20-day moving average (MA) of 148.52, above the 50-day MA of 139.94, and above the 200-day MA of 157.30, indicating a neutral trend. The MACD of -1.20 indicates Positive momentum. The RSI at 42.34 is Neutral, neither overbought nor oversold. The STOCH value of 34.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IRCON.
IRCON International Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹162.22B | 30.53 | ― | 0.24% | 10.00% | 60.40% | |
66 Neutral | ₹5.55T | 22.63 | ― | 0.84% | 11.79% | 15.95% | |
65 Neutral | ₹98.62B | 20.57 | ― | 3.24% | 8.91% | 6.54% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | ₹131.86B | 18.22 | ― | 1.56% | -15.69% | -18.10% | |
50 Neutral | ₹118.68B | 39.72 | ― | 0.65% | -4.78% | -50.23% | |
48 Neutral | ₹541.90B | 59.44 | ― | 0.50% | 2.46% | -31.69% |
* Industrials Sector Average
IN:IRCON
IRCON International Ltd.
139.65
-48.80
-25.90%
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IRCON International Ltd. Corporate Events
Ircon Announces Retirement of Senior Executive Director Dunne Bujji Bhuvan Kumar
Feb 28, 2026
Ircon International Ltd. has announced that Executive Director/General, Shri Dunne Bujji Bhuvan Kumar, has retired from his role as a Senior Management Personnel effective end of day on 28 February 2026, upon reaching the age of superannuation. Th...
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.