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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Ircon International Limited is an India-based integrated engineering and construction company. The Company operates in infrastructure sectors, including railways, highways, bridges, flyovers, tunnels, metro systems, railway electrification, extra-high voltage substations,…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A weak, stagnant business, reasonably priced — but flagged on governance.
Ircon International is scored on the general / industrial framework. It keeps a slim 6.2% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT -1.04×) — worth a closer look. Free cash flow is worth about -9.7% of its market value.
Over the last 3 years revenue compounded at -4%/yr and profit at -8%/yr. Book value has grown 9%/yr. Return on equity is a weak 7.2%. In the latest quarter profit fell 52% versus the prior quarter.
At 17× earnings, the stock sits at the 21st percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price implies ~10%/yr earnings growth for a decade. The forensic screen raises 2 red flags: Only ₹-0.69 of cash per ₹1 profit over 4 years — earnings not converting to cash; 56% of pre-tax profit is other income, not operations.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 21.04 | 22.44 | better |
| P/B | 1.5 | 2.58 | better |
| EV/EBITDA | 9 | 29.45 | better |
| ROE | 7.2 | 6.27 | better |
| ROCE | 7.58 | 29.51 | worse |
| ROA | 2.26 | 3.35 | worse |
| Quick Ratio | 1.65 | — | — |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Larsen & Toubro | 27.1 | 5.0 | 15.8% |
| RVNL | 44.7 | 4.1 | 8.9% |
| ACME Solar Holdings | 36.9 | 3.3 | 9.1% |
Revenue declined 15% in the latest year — a break from prior trajectory. Negative CAGR — the top line has shrunk over this window.
Revenue is outpacing profit (-4% vs -8%) — costs are rising faster than the top line.
Operating margins have been stable around 8% — no major structural shift.
ROE at 9% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 6pp.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. -8% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
4 of 4 years had negative operating cash flow — profitability on paper may not translate to cash.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 38% QoQ — could be seasonality or a genuine slowdown. Wide quarterly swings (38% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 24% above earlier ones.
Profit fell 52% QoQ — one-quarter drops can be noise, but a pattern matters.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold 65.2% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.