IRCON International Ltd. (IRCON) AI Stock Analysis

• Market Cap: ₹143.95B
• Dividend Yield: 1.73%
• Average Volume (3M): 274.33K
• Price to Earnings (P/E): 24.0
• Beta (1Y): 1.97
• Revenue Growth: -13.85%
• EPS Growth: -34.81%
• Country: IN
• Employees: 867
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 1.35
• Shares Outstanding: 940,515,750
• 10 Day Avg. Volume: 157,468
• 30 Day Avg. Volume: 274,334
• PEG Ratio: -0.95
• Price to Book (P/B): 2.37
• Price to Sales (P/S): 1.39
• P/FCF Ratio: -6.95
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ₹188.00 ▲(22.84% Upside)

IRCON International Ltd. has a solid financial base with consistent revenue growth, but faces challenges in cash flow stability and operational efficiency. Technical indicators suggest a neutral market sentiment, while the valuation is moderate. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Strong Financial Foundation

A strong financial foundation with steady revenue and profit growth indicates robust business operations and financial health, supporting long-term sustainability.

Robust Balance Sheet

A robust balance sheet with a stable equity ratio and manageable debt-to-equity ratio provides financial stability and flexibility for future growth.

Positive Net Profit Margin

Maintaining a positive net profit margin reflects efficient cost management and profitability, which are crucial for long-term business success.

Negative Factors

Cash Flow Stability Challenges

Negative free cash flow indicates potential liquidity issues, which can hinder the company's ability to invest in growth opportunities and meet obligations.

Decline in EBITDA

A decline in EBITDA suggests operational inefficiencies or increased costs, which could impact profitability and operational performance over time.

Increasing Liabilities

Rising liabilities may lead to financial constraints, limiting the company's ability to invest in growth and potentially affecting its financial health.

IRCON International Ltd. Business Overview & Revenue Model

Company Description

IRCON International Ltd. (IRCON) is a leading engineering and construction company based in India, primarily focused on infrastructure development. Established in 1976, the company operates in various sectors including railways, highways, bridges, and urban infrastructure. IRCON is known for executing large-scale projects both domestically and internationally, providing services such as project management, construction, and maintenance across its core sectors.

How the Company Makes Money

IRCON generates revenue through a diverse array of projects in infrastructure development, which are typically funded by government contracts and international tenders. The company earns money by undertaking construction contracts, providing consultancy services, and engaging in project management for public and private sector clients. Key revenue streams include fixed-price contracts, cost-plus contracts, and joint ventures with other firms for large projects. Additionally, IRCON has formed strategic partnerships with various governmental and private entities to enhance its bidding capabilities and project execution, contributing to its overall earnings.

IRCON International Ltd. Financial Statement Overview

Summary

IRCON International Ltd. shows a strong financial foundation with steady revenue and profit growth. However, challenges in cash flow stability and a decline in EBITDA indicate potential operational issues that need addressing.

Income Statement

The income statement shows a strong performance with consistent revenue growth over the years. The most recent revenue figure is slightly below the previous year, but still demonstrates a healthy overall growth trajectory. Gross profit margins are solid, and the company maintains a positive net profit margin. However, a decline in EBITDA indicates potential operational challenges.

Balance Sheet

The balance sheet is robust with a solid equity base, reflected in a stable equity ratio. Debt-to-equity ratio is manageable, suggesting prudent leverage. However, the increasing total liabilities over the years could signal potential future financial constraints if not managed carefully.

Cash Flow

The cash flow statement indicates some concerns with negative free cash flow in recent periods, which could affect future investments. Operating cash flow has fluctuated significantly, raising questions about cash generation consistency. However, past positive free cash flows indicate potential for recovery.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	102.59B	107.60B	125.14B	103.68B	73.80B	53.50B
Gross Profit	11.50B	12.11B	15.42B	10.42B	9.11B	8.02B
EBITDA	7.76B	8.40B	11.30B	7.02B	5.98B	5.12B
Net Income	6.68B	7.27B	9.30B	7.65B	5.92B	3.91B
Balance Sheet
Total Assets	0.00	195.21B	174.45B	155.37B	144.46B	112.54B
Cash, Cash Equivalents and Short-Term Investments	51.92B	51.92B	55.04B	52.47B	55.22B	34.50B
Total Debt	0.00	42.99B	25.70B	15.05B	13.99B	3.31B
Total Liabilities	-63.62B	131.59B	115.39B	103.13B	97.80B	68.51B
Stockholders Equity	63.62B	63.26B	58.71B	52.11B	46.66B	44.03B
Cash Flow
Free Cash Flow	0.00	-21.58B	-6.01B	-2.68B	13.65B	5.14B
Operating Cash Flow	0.00	-11.10B	2.48B	-1.68B	14.05B	5.18B
Investing Cash Flow	0.00	319.20M	-11.71B	14.68B	-12.27B	-7.77B
Financing Cash Flow	0.00	11.56B	7.79B	-2.23B	6.71B	1.69B

IRCON International Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 153.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 153.05 is below the 20-day moving average (MA) of 155.62, below the 50-day MA of 163.46, and below the 200-day MA of 171.70, indicating a bearish trend. The MACD of -3.29 indicates Negative momentum. The RSI at 42.81 is Neutral, neither overbought nor oversold. The STOCH value of 50.31 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRCON	65 Neutral	₹143.95B	23.96	―	1.73%	-13.85%	-34.81%
RITES	64 Neutral	₹108.78B	26.46	―	3.47%	-5.23%	3.21%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BEML	61 Neutral	₹143.27B	48.42	―	0.31%	-1.31%	3.61%
POWERMECH	61 Neutral	₹73.32B	22.44	―	0.05%	28.54%	19.19%
KEC	60 Neutral	₹189.64B	27.76	―	0.77%	12.21%	56.50%

IRCON International Ltd. Corporate Events

IRCON International Holds 49th AGM with E-Voting Compliance

IRCON International Limited held its 49th Annual General Meeting on September 18, 2025, where the company facilitated remote e-voting and e-voting during the meeting through video conferencing. The scrutinizer’s report on the voting results was submitted in compliance with SEBI regulations, ensuring transparency and adherence to corporate governance standards. This meeting and the voting process reflect IRCON’s commitment to engaging with its shareholders and maintaining regulatory compliance, which is crucial for its operations and stakeholder trust.