PSP Projects Ltd (IN:PSPPROJECT)
:PSPPROJECT
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PSP Projects Ltd
(PSPPROJECT)
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Rating:64Neutral
Price Target:
₹963.00
▲(9.07% Upside)
Action:Reiterated
Date:06/05/26
The score is driven primarily by mixed financial performance—strong FY2026 revenue growth and manageable leverage, but pronounced margin/ROE compression and historically uneven cash conversion. Technicals add meaningful support due to a clear uptrend and positive momentum. Valuation is neutral-to-slightly limiting with a ~24.4 P/E and no dividend yield provided.
Positive Factors
Revenue momentum
A 30.8% revenue rebound in FY2026 signals renewed demand and project activity, which is durable for the medium term in construction cycles. Stronger top-line reduces fixed-cost leverage per unit, supports scale benefits and backlog conversion, and creates room to restore margins and reinvest in bid pipelines if sustained.
Negative Factors
Severely compressed margins
Gross margin collapsing to ~5.8% and net margin to ~1.8% materially reduces the firm's ability to absorb cost inflation or bid competitively while remaining profitable. Persistently low margins compress cash flow buffers and limit reinvestment, making earnings sensitive to any further input-cost or contract-price pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue momentum
A 30.8% revenue rebound in FY2026 signals renewed demand and project activity, which is durable for the medium term in construction cycles. Stronger top-line reduces fixed-cost leverage per unit, supports scale benefits and backlog conversion, and creates room to restore margins and reinvest in bid pipelines if sustained.
Read all positive factors
PSP Projects Ltd (PSPPROJECT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹34.80B
Dividend YieldN/A
Average Volume (3M)4.92K
Price to Earnings (P/E)24.9
Beta (1Y)0.90
Revenue Growth25.34%
EPS Growth-1.60%
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)38.34
Revenue Forecast (FY)₹41.19B
PSP Projects Ltd Business Overview & Revenue Model
Company Description
PSP Projects Limited, an Ahmedabad, India-based construction firm founded in 2008, offers comprehensive building services across diverse sectors throughout India. Its extensive portfolio encompasses industrial complexes, including pharmaceutical a...
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
Positive
882.90
Price Trends
774.67
Positive
753.33
Positive
793.19
Positive
Market Momentum
34.23
Negative
61.78
Neutral
57.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PSPPROJECT, the sentiment is Positive. The current price of 882.9 is above the 20-day moving average (MA) of 834.57, above the 50-day MA of 774.67, and above the 200-day MA of 793.19, indicating a bullish trend. The MACD of 34.23 indicates Negative momentum. The RSI at 61.78 is Neutral, neither overbought nor oversold. The STOCH value of 57.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹34.89B | 8.93 | ― | 0.67% | 0.52% | -1.01% | |
65 Neutral | ₹33.23B | 8.05 | ― | 0.16% | -41.35% | -56.36% | |
64 Neutral | ₹34.80B | 24.89 | ― | ― | 25.34% | -1.60% | |
62 Neutral | ₹32.35B | 1.25 | ― | ― | -25.08% | 51.20% | |
59 Neutral | ₹35.52B | 11.16 | ― | 0.25% | 3.53% | -34.73% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
54 Neutral | ₹28.59B | 11.22 | ― | ― | -9.69% | 37.26% |
* Services Sector Average
IN:PSPPROJECT
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PSP Projects Ltd Corporate Events
PSP Projects Announces Details of 18th AGM to Be Held Virtually
May 26, 2026
PSP Projects Ltd has notified stock exchanges that it has published newspaper advertisements providing information about its 18th Annual General Meeting. The AGM will be held on June 27, 2026, at 11:00 a.m. IST through video conferencing and other...
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.