āagman

Not investment advice. Data and computed figures, for information only.

IRB Infrastructure Developers Ltd

NSE: IRB
₹17.57
−₹0.20 (−1.13%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹21,112 Cr
CMP
₹17.57
52-wk High / Low
₹46 / 17
P/E
21.5
P/B
1.0
Book Value
₹17.3
Div Yield
0.89%
ROCE
7.0%
ROE
4.3%
Face Value
₹1
D/E
0.96

Price−59.5% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹17
√(22.5 × EPS × book value per share)
ROIC
4.8%
vs 11.1% sector median
Cash flow to profit
2.47
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+860
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
3.5%
ROE × earnings retention ratio
ROE stability
11.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.02FII +0.03DII +0.12
Latest quarter vs the previous one
Cash-accrual divergence
−2.3%
of assets
Low = accruals track cash flow
Strengths
+Piotroski F-Score of 7/9 is in the strong band (≥7)
Watch-outs
−Latest ROCE of 7% trails the sector median of 17%
−Borrowings are up 28.2% since FY2016 (15626 to 20027)
−Price trades below its 200-day moving average (0.7x)
−Price is 61.8% below its 52-week high
−Annualised volatility of 66.4% is in the high band (≥45%)
−Promoter holding fell by 3.4pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,6341,7451,9692,0611,8531,5862,0252,1492,0991,7511,8711,9272,137
Expenses9101,0261,1501,3071,0499031,0411,1511,147826849844985
Operating Profit7247198197558046839849989529251,0221,0831,153
OPM %44.3%41.2%41.6%36.6%43.4%43.1%48.6%46.4%45.4%52.8%54.6%56.2%54.0%
Other Income1111301094431191665,869696649−25035
Interest381435433615439434461458462451436406438
Depreciation237233251274255231265286269262289321333
Profit before tax2171822433092291836,127323286261295406417
Net Profit134961871891401006,026215202141211296306
EPS (₹)0.110.080.160.160.120.084.990.180.170.120.170.250.25

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,8495,1285,8465,6946,7076,8525,2995,8046,4027,4097,6137,6487,686
Expenses1,6312,4612,7893,0053,7633,8872,9473,2293,2714,3874,1413,6413,504
Operating Profit2,2182,6673,0572,6892,9442,9652,3522,5753,1303,0223,4724,0084,182
OPM %57.6%52.0%52.3%47.2%43.9%43.3%44.4%44.4%48.9%40.8%45.6%52.4%54.4%
Other Income1131271232951962521895523007936,222138133
Interest9371,0701,3429761,1261,5741,6971,8941,5211,8681,7951,7561,731
Depreciation7078538555445404685826838329951,0381,1421,206
Profit before tax6868709841,4641,4731,1752625501,0779516,8611,2481,378
Net Profit5426407159208507211173617206066,481850954
EPS (₹)0.770.911.021.311.211.030.170.300.600.505.370.700.79

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital351351351351351351351604604604604604—
Reserves4,0094,4854,9205,3415,9646,3316,54911,96212,77513,14119,22320,345—
Borrowings12,57615,62613,96313,83216,5999,20519,21916,69716,74818,65320,59920,027—
Other Liabilities22,45321,69927,40620,86517,54923,99715,05213,21812,57512,47213,42313,022—
Total Liabilities39,39142,16246,64140,38940,46439,88541,17142,48142,70344,87053,84953,998—
Fixed Assets31,76435,14924,38831,07132,94327,67127,10227,27126,48025,51424,61623,896—
CWIP4,8354,0206,8065,6483,797403673638814—
Investments9361469456454,1464,7994,9045,1419,64217,09719,328—
Other Assets2,7832,95715,3012,7243,0797,6668,59710,24311,0749,70612,13510,770—
Total Assets39,39142,16246,64140,38940,46439,88541,17142,48142,70344,87053,84953,998—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,6551,8232,3403,1922,1322,7103,7098673641,7644,0541,9712,098
Cash from Investing Activity−2,394−2,297−3,144−2,981−2,621−4,081−4,932−8,176−1,553−650−3,644375−910
Cash from Financing Activity925475671−2024101,4381,3887,520589−860−477−720−2,702
Net Cash Flow1862−1339−7966165211−601253−681,627−1,513

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %10.010.010.012.012.012.014.09.09.09.09.08.07.0
ROE %————————————4.3
EPS (₹)0.690.770.911.021.311.211.030.170.300.600.505.370.70
Book Value (₹)————————————17.3
Face Value (₹)————————————1
P/E————————————21.5
Div Yield %————————————0.89
NPM %12.313.712.212.015.412.310.12.15.710.77.446.810.9
OPM %47.058.052.052.047.044.043.044.044.049.041.046.052.0
D/E3.112.883.232.652.432.631.382.791.331.251.361.040.96
P/B————————————1.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+4.0%
5 years+8.0%
3 years+6.0%
TTM−2.0%
Compounded profit growth
10 years+3.0%
5 years+50.0%
3 years+8.0%
TTM+18.0%
Stock price CAGR
10 years+4.0%
5 years+11.0%
3 years+3.0%
Last year−19.0%
Return on equity
10 years6.0%
5 years5.0%
3 years5.0%
Last year4.0%

Shareholding pattern

As of 31 Mar 2026
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.37%57.37%57.54%57.69%58.61%34.02%34.20%34.39%30.42%30.79%30.81%
FIIs27.92%23.87%22.76%16.76%15.16%48.79%48.52%47.21%44.31%43.84%43.87%
DIIs7.36%12.04%12.02%12.23%11.37%6.14%6.98%7.78%9.34%10.02%10.14%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%
Public7.35%6.72%7.68%13.32%14.86%11.05%10.28%10.59%15.92%15.32%15.17%
No. of shareholders86,11590,55990,4991,00,5021,10,1921,36,5722,03,6548,68,96617,25,50215,31,35615,25,882
Change since Sep 2023 (pp)
Promoters −26.56FIIs +15.95DIIs +2.78Public +7.82

Documents

As of 11 Oct 2026
Announcements
Project Wise Toll Revenue For The Month Of September 2026Announcement under Regulation 30 (LODR)-Credit RatingIntimation Of Credit Rating By Fitch RatingsIntimation Of Credit Rating By Moody''s Investor ServicesUpdate On Transfer Of Two Projects From IRB Infrastructure Trust To IRB Invit Fund
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingMay 2026TranscriptMay 2026RecordingFeb 2026TranscriptFeb 2026RecordingNov 2025TranscriptAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 5 Aug 2026
5 Aug 2026DIVIDENDInterim Dividend - Re 0.05 Per Share—
26 May 2026DIVIDENDInterim Dividend - Re 0.05 Per Share—
30 Mar 2026BONUSBonus 1:1—
18 Feb 2026DIVIDENDInterim Dividend - Re 0.07 Per Share—
18 Nov 2025DIVIDENDInterim Dividend - Rs 0.07 Per Share—
29 Aug 2025DIVIDENDInterim Dividend - Re 0.07 Per Share—
6 Feb 2025DIVIDENDInterim Dividend - Re 0.10 Per Share—
8 Nov 2024DIVIDENDInterim Dividend - Re 0.10 Per Share—
20 Aug 2024DIVIDENDInterim Dividend - Re 0.1 Per Share—
15 May 2024DIVIDENDInterim Dividend - Re 0.10 Per Share—
8 Feb 2024DIVIDENDInterim Dividend - Re 0.10 Per Share—
6 Nov 2023DIVIDENDInteim Dividend - Re 0.10 Per Share—
29 May 2023DIVIDENDInterim Dividend - Re 0.075 Per Share—
22 Feb 2023SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share10 : 1
12 Aug 2022DIVIDENDInterim Dividend - Rs 1.25 Per Share—
16 Jul 2020DIVIDEND Dividend - Rs 5 Per Share—
1 Aug 2018DIVIDEND Interim Dividend- Rs 2.50 Per Share (Purpose Revised)—
15 Feb 2018DIVIDEND Interim Dividend Rs 2.50 Per Share (Purpose Revised)—
31 Jul 2017DIVIDEND Interim Dividend - Rs 2.50 Per Share (Purpose Revised)—
6 Jun 2017DIVIDEND Interim Dividend Rs 3/- Per Share—
2 Feb 2017DIVIDEND Interim Dividend Rs 2/- Per Share (Purpose Revised) —
16 Mar 2016DIVIDEND Interim Dividend - Rs 2/- Per Share (Purpose Revised)—
27 Oct 2015DIVIDENDInterim Dividend - Rs 2/- Per Share (Purpose Revised)—
4 Jun 2015DIVIDENDSecond Interim Dividend - Rs 2/- Per Share (Purpose Revised)—
4 Aug 2014DIVIDENDInterim Dividend Rs 2/- Per Share (Purpose Revised)—
5 Feb 2014DIVIDENDSecond Interim Dividend - Rs 2/- Per Share—
12 Aug 2013DIVIDEND1st Interim Dividend Rs.2/- Per Share (Purpose Revised)—
20 May 2013DIVIDENDFourth Interim Dividend @ Re.1/- Per Equity Share (Purpose Revised)—
11 Feb 2013DIVIDENDInterim Dividend Re 1 Per Share (Purpose Revised)—
2 Nov 2012DIVIDENDInterim Dividend Re 1 Per Share (Purpose Revised)—
1 Aug 2012DIVIDENDAnnual General Meeting/ Interim Dividend Rs 1 Per Share (Purpose Revised)—
31 Jan 2012DIVIDENDInterim Dividend Rs.1.80 Per Share (Purpose Revised)—
17 Aug 2011DIVIDENDDividend-Rs.1.50 Per Share—
21 Sep 2010DIVIDENDAnnual General Meeting And Dividend Rs.1.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman