IRCON International Ltd. (IRCON) AI Stock Analysis

• Market Cap: ₹128.38B
• Dividend Yield: 1.56%
• Average Volume (3M): 274.33K
• Price to Earnings (P/E): 41.5
• Beta (1Y): 2.03
• Revenue Growth: -13.85%
• EPS Growth: -34.81%
• Country: IN
• Employees: 867
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 1.07
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 8.8
• Revenue Forecast (FY): ₹114.40B

• Rating: 63 Neutral
• Price Target: ₹145.00 ▼(-18.88% Downside)
• Action: Reiterated Date: 03/24/26
• Date: Action: Reiterated 03/24/26

The score is driven primarily by generally solid financial performance, but it is capped by cash-flow instability and a bearish technical setup (price below key moving averages with negative MACD). A high P/E and only modest dividend yield further limit the overall rating.

Positive Factors

Government ownership & rail expertise

State ownership and long-standing railway focus provide durable competitive advantage in public EPC awards. Government backing and track record in rail projects support steady access to large-scale contracts, stronger counterparty reliability and predictable demand from public infrastructure programs.

Negative Factors

Negative free cash flow & cash volatility

Recent negative free cash flow and volatile operating cash flow undermine the firm's ability to self-fund project mobilization and capex. Over time this can increase reliance on advances, short-term borrowings or parent support, raising financing costs and constraining bid capacity for new awards.

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...

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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 makes money mainly by executing infrastructure projects awarded by government and public-sector clients, earning contract revenue for construction and project delivery. Its core revenue stream is engineering, procurement and construction (EP...

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IRCON makes money mainly by executing infrastructure projects awarded by government and public-sector clients, earning contract revenue for construction and project delivery. Its core revenue stream is engineering, procurement and construction (EP...

IRCON International Ltd. Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	97.88B	107.60B	125.14B	103.68B	73.80B	53.50B
Gross Profit	10.75B	12.11B	15.42B	10.42B	9.11B	8.02B
EBITDA	8.73B	8.40B	11.30B	7.02B	5.98B	5.12B
Net Income	6.01B	7.27B	9.30B	7.65B	5.92B	3.91B
Balance Sheet
Total Assets	202.19B	195.21B	174.45B	155.37B	144.46B	112.54B
Cash, Cash Equivalents and Short-Term Investments	81.04B	51.92B	55.04B	52.47B	55.22B	34.50B
Total Debt	51.38B	42.99B	25.70B	15.05B	13.99B	3.31B
Total Liabilities	137.28B	131.59B	115.39B	103.13B	97.80B	68.51B
Stockholders Equity	64.58B	63.26B	58.71B	52.11B	46.66B	44.03B
Cash Flow
Free Cash Flow	-4.13B	-21.58B	-6.01B	-2.68B	13.65B	5.14B
Operating Cash Flow	885.20M	-11.10B	2.48B	-1.68B	14.05B	5.18B
Investing Cash Flow	-9.66B	319.20M	-11.71B	14.68B	-12.27B	-7.77B
Financing Cash Flow	5.68B	11.56B	7.79B	-2.23B	6.71B	1.69B

IRCON International Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 178.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IRCON, the sentiment is Neutral. The current price of 178.75 is above the 20-day moving average (MA) of 126.62, above the 50-day MA of 140.26, and above the 200-day MA of 163.31, indicating a neutral trend. The MACD of -1.86 indicates Negative momentum. The RSI at 53.44 is Neutral, neither overbought nor oversold. The STOCH value of 84.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:IRCON.

IRCON International Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KEC	66 Neutral	₹152.79B	38.53	―	0.74%	12.21%	56.50%
RITES	64 Neutral	₹99.58B	28.60	―	3.24%	-5.23%	3.21%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
IRCON	63 Neutral	₹128.38B	41.51	―	1.56%	-13.85%	-34.81%
BEML	62 Neutral	₹134.94B	-173.04	―	0.29%	-1.31%	3.61%
POWERMECH	61 Neutral	₹71.43B	19.27	―	0.05%	28.54%	19.19%

IRCON International Ltd. Corporate Events