PSP Projects Ltd (IN:PSPPROJECT)
:PSPPROJECT
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PSP Projects Ltd
(PSPPROJECT)
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Rating:55Neutral
Price Target:
₹774.00
▼(-12.33% Downside)
Action:Downgraded
Date:05/07/26
The score is held back primarily by sharp margin compression and weak returns on equity despite strong FY2026 revenue growth, with historically volatile cash conversion also a risk. Technicals are supportive with the stock trading above major moving averages, but overbought momentum indicators raise near-term downside risk. Valuation is a significant headwind due to the very high P/E.
Positive Factors
Revenue Growth Momentum
Sustained 30.8% revenue recovery indicates renewed demand and contract wins, providing a larger top-line base to absorb fixed costs and support scale. Over 2-6 months this strengthens execution visibility and underpins medium-term growth prospects if order flow sustains.
Negative Factors
Severe Margin Compression
Sharp decline in gross and net margins signals weakened pricing power or rising input and project costs. Persistently low margins erode operating leverage, limit reinvestment capacity, and make earnings highly sensitive to project execution and commodity cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained 30.8% revenue recovery indicates renewed demand and contract wins, providing a larger top-line base to absorb fixed costs and support scale. Over 2-6 months this strengthens execution visibility and underpins medium-term growth prospects if order flow sustains.
Read all positive factors
PSP Projects Ltd (PSPPROJECT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹30.48B
Dividend YieldN/A
Average Volume (3M)4.92K
Price to Earnings (P/E)109.4
Beta (1Y)0.89
Revenue Growth25.34%
EPS Growth59.38%
CountryIN
Employees1,969
SectorServices
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)5.63
Shares Outstanding39,641,792
10 Day Avg. Volume3,881
30 Day Avg. Volume4,924
Financial Highlights & Ratios
PEG Ratio-1.73
Price to Book (P/B)4.81
Price to Sales (P/S)1.93
P/FCF Ratio53.12
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)39
Revenue Forecast (FY)₹40.71B
PSP Projects Ltd Business Overview & Revenue Model
Company Description
PSP Projects Limited, a construction company, provides construction services for industrial, institutional, residential, social infrastructure, and commercial projects in India. The company constructs industrial buildings for pharmaceutical plants...
How the Company Makes Money
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PSP Projects Ltd Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
70
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.07B | 31.49B | 25.29B | 25.06B | 19.38B | 17.48B |
| Gross Profit | 1.57B | 1.84B | 3.58B | 4.78B | 3.47B | 3.57B |
| EBITDA | 1.47B | 1.89B | 1.97B | 2.74B | 2.55B | 2.80B |
| Net Income | 221.57M | 555.16M | 564.18M | 1.23B | 1.32B | 1.67B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 30.89B | 23.53B | 20.37B | 17.65B | 12.70B |
| Cash, Cash Equivalents and Short-Term Investments | 2.08B | 4.16B | 2.08B | 2.27B | 2.42B | 1.96B |
| Total Debt | 0.00 | 3.30B | 2.72B | 4.55B | 1.45B | 996.57M |
| Total Liabilities | -12.09B | 18.25B | 11.44B | 11.22B | 9.64B | 5.83B |
| Stockholders Equity | 12.09B | 12.64B | 12.09B | 9.15B | 8.01B | 6.87B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.14B | -152.53M | -3.66B | -344.72M | 706.76M |
| Operating Cash Flow | 0.00 | 3.07B | 527.10M | -2.24B | 452.78M | 1.47B |
| Investing Cash Flow | 0.00 | -1.69B | -1.06B | -262.49M | -507.19M | -1.64B |
| Financing Cash Flow | 0.00 | 424.05M | 196.04M | 2.69B | 115.47M | -107.33M |
PSP Projects Ltd Technical Analysis
Neutral
882.90
Price Trends
712.70
Positive
757.21
Positive
782.60
Negative
Market Momentum
18.03
Positive
52.45
Neutral
20.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PSPPROJECT, the sentiment is Neutral. The current price of 882.9 is above the 20-day moving average (MA) of 781.02, above the 50-day MA of 712.70, and above the 200-day MA of 782.60, indicating a neutral trend. The MACD of 18.03 indicates Positive momentum. The RSI at 52.45 is Neutral, neither overbought nor oversold. The STOCH value of 20.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PSPPROJECT.
PSP Projects Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹35.51B | 0.56 | ― | ― | -20.53% | 87.83% | |
70 Outperform | ₹36.05B | 11.13 | ― | 0.16% | -42.03% | -61.34% | |
67 Neutral | ₹35.77B | 13.34 | ― | 0.67% | 0.52% | -1.01% | |
65 Neutral | ₹38.71B | 13.05 | ― | 0.25% | -4.35% | -28.49% | |
61 Neutral | ₹30.76B | 12.27 | ― | ― | -14.42% | -13.89% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹30.48B | 109.41 | ― | ― | 25.34% | 59.38% |
* Services Sector Average
IN:PSPPROJECT
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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.