Dilip Buildcon Limited (DBL)

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Dilip Buildcon Limited (DBL) · mywealthgrid

About

Dilip Buildcon Limited operates in civil construction, delivering large-scale infrastructure projects. With ₹6,696.56 Cr market cap and recent quarterly revenues of ₹2,300–2,400 Cr, it is a mid-sized player in the construction sector. It demonstrates strong profitability: 19.65% operating margin and 21.9% return on equity.

Face value: ₹10

Market cap

₹6,481 Cr

P/E

5.5×

P/B

0.9×

Dividend yield

0.3%

ROE

21.9%

ROCE

15.3%

Debt / equity

1.18

OPM

19.7%

EPS (TTM)

₹73.0

Book value

₹420.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility (10.32% to 24.45% across quarters) and Dec 2025 profit spike (36.9% net) suggest inconsistent project profitability; verify if recent peaks are recurring
Debt-to-equity ratio of 1.18 represents material leverage in a cyclical sector; monitor refinancing costs and debt serviceability
PE ratio of 5.64 despite ROE of 21.9% indicates market may be pricing concerns about earnings quality or growth visibility
Revenue fluctuates across quarters (₹1.7–2.4 Cr range); verify project pipeline stability and working capital management

Generated analysis · source review pending

Growth drivers

Operating margin of 19.65% and ROE of 21.9% indicate capital efficiency; verify order book and growth strategy to sustain high returns
Revenue of ₹2,300–2,400 Cr in recent quarters demonstrates project execution capability; verify pipeline depth and contract backlog
Annual dividends since 2021 signal stable cash generation; verify whether growth investment is prioritized in capital allocation

Generated analysis · source review pending

2,500 historical price candles were omitted because the exchange source has not been verified.

₹399.1-2.9%1Y

Quick read

rule-based

Pros

+Profit CAGR of 24.4% over the last 5 years
+High promoter holding of 63.1% with no pledge

Cons

−Revenue shrank over the last 5 years (-2.4% a year)
−Weak interest coverage of 1.4×
−Low dividend payout of 1.4% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

45/100

Business quality: 39
Growth: 0
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9,725	10,168	9,566	10,644	12,012	11,317	8,984
COGS	7,201	7,553	8,282	9,238	10,060	8,559	6,658
Gross profit	2,524	2,615	1,284	1,405	1,952	2,757	2,326
	456	487	511	449	531	607	560
	2,068	2,128	773	957	1,421	2,151	1,766
OPM %	21.3%	20.9%	8.1%	9%	11.8%	19%	19.7%
Depreciation	470	443	400	399	379	346	298
Interest	1,136	1,173	1,057	901	1,012	1,249	1,403
	108	74	-19	447	462	425	1,396
Profit before tax	570	605	-704	103	492	981	1,461
Tax	164	168	-154	105	291	141	63
Tax %	28.8%	27.8%	-21.9%	101.3%	59.1%	14.4%	4.3%
	405	437	-550	-1	201	840	1,398
PAT margin %	4.2%	4.3%	-5.8%	-0%	1.7%	7.4%	15.6%
EPS (₹)	29.6	—	-37.8	-0.1	13.8	57.4	86.1
EPS adjusted (₹)	26.2	31.9	-37.5	-0.1	13.3	43.8	80.2
	3.4%	—	—	—	7.3%	1.7%	1.2%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	117	137	137	137	137	137	146	146	146	146	162
Reserves	586	1,582	2,139	2,669	3,005	3,263	3,404	3,852	4,223	4,918	6,667
Minority interest	—	0	14	29	162	373	—	—	5	191	132
	2,943	3,780	4,736	6,950	8,349	10,508	8,783	6,658	7,240	9,525	8,041
	1,788	2,520	3,548	4,654	5,081	4,088	4,007	4,783	5,032	4,929	3,905
Total equity & liabilities	5,434	8,019	10,575	14,439	16,733	18,368	16,341	15,439	16,647	19,709	18,908
	1,305	1,967	2,044	3,031	2,908	2,730	1,789	1,529	1,531	1,427	1,421
CWIP	253	106	848	2,736	2,840	3,893	3,385	2,658	2,832	3,689	3,362
Investments	—	—	68	68	9	37	1	964	857	832	1,557
	3,875	5,946	7,615	8,604	10,976	11,709	11,166	10,288	11,427	13,761	12,569
Total assets	5,434	8,019	10,575	14,439	16,733	18,368	16,341	15,439	16,647	19,709	18,908

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
EPC Projects & Road Infrastructure Maintenance	6,133.75	1,039.48	17,060.98	10,168.23	6,892.75	15.08
Annuity Projects & Others	2,850.18	944

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26%	25.7%	13.4%	13.2%	16.2%	24.4%	25.9%
EBITDA margin %	21.3%	20.9%	8.1%	9%	11.8%	19%	19.7%
EBIT margin %	16.4%	16.6%	3.9%	5.2%	8.7%	15.9%	16.3%
PAT margin %	4.2%	4.3%	-5.8%	-0%	1.7%	7.4%	15.6%
Working capital
Receivable days	135	42	36	48	39	46	67
Inventory days	134	147	152	133	126	149	189
Payable days	—	100	100	121	105	120	141
NWC days	—	89	88	60	60	74	115
Leverage
Current ratio	1.18	1.21	1.43	1.22	1.32	1.48	1.56
Debt to EBITDA	4.04	4.94	11.37	6.96	5.09	4.43	4.55
Debt to equity	2.66	3.09	2.47	1.67	1.66	1.88	1.18
Interest coverage	1.4	1.5	0.4	0.7	1.2	1.6	1.4
Asset turnover	0.58	0.55	0.59	0.69	0.72	0.57	0.48
Return ratios
Return on assets %	2.4%	2.4%	-3.4%	-0%	1.2%	4.3%	7.4%
Return on capital employed %	16%	15.9%	3.8%	6.7%	12.9%	16.9%	15.3%
Return on equity %	12.9%	12.8%	-15.5%	-0%	4.6%	16.6%	20.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.15%	70.15%	70.15%	70.15%	70.15%	70.15%	70.15%	63.14%	63.14%	63.14%	63.14%	63.14%
	2.69%	2.89%	2.89%	2.8%	3.07%	3.18%	3.13%	2.76%	2.91%	2.47%	1.97%	1.99%
	9.06%	9.11%	9.12%	9.21%	9.57%	9.53%	6.6%	6.92%	6.13%	6.23%	6.09%	6.12%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	18.1%	17.85%	17.84%	17.84%	17.21%	17.14%	20.12%	27.18%	27.82%	28.16%	28.8%	28.75%
No. of shareholders	—	—	—	—	—	—	—	—	62,054	62,151	61,010	59,900

Promoter holding down 7.01 percentage points since Sep 2023.

50 deals · 9 Dec 2021 – 24 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	12,30,087	₹415.61	₹51.12 Cr
24 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	12,30,087	₹415.93	₹51.16 Cr
13 Jun 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	9,75,803	₹500.78	₹48.87 Cr
13 Jun 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	9,75,803	₹500.61	₹48.85 Cr
14 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	8,06,794	₹423.03	₹34.13 Cr
14 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	8,06,794	₹422.88	₹34.12 Cr
4 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	8,34,987	₹415.38	₹34.68 Cr
4 Dec 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	8,34,945	₹415.40	₹34.68 Cr
13 Nov 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	8,82,970	₹395.54	₹34.92 Cr
13 Nov 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	8,82,970	₹395.49	₹34.92 Cr

1–10 of 50

1 / 5

Mr. Dilip SuryavanshiExecutive Director-Chairperson related to Promoter-MD
Mr. Devendra JainExecutive Director-CEO-MD
Mr. Vijay ChhibberNon-Executive - Independent Director
Mr. Malay MukherjeeNon-Executive - Independent Director
Ms. Ratna D ViswanathanNon-Executive - Independent Director
Mr. Alok VermaNon-Executive - Independent Director
Mr. Sanjay Kumar BansalChief Financial Officer
Abhishek ShrivastavaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.1%

of the company's equity

All mutual funds

2.09%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.56 L	6.32	0.25%	0.096%	-3,419
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	1,069	0.04	0.01%	0.001%	+5
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	178	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

30 announcementsExport CSV

28 Sept 2026, 2:55 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26%	25.7%	13.4%	13.2%	16.2%	24.4%	25.9%
EBITDA margin %	21.3%	20.9%	8.1%	9%	11.8%	19%	19.7%
EBIT margin %	16.4%	16.6%	3.9%	5.2%	8.7%	15.9%	16.3%
PAT margin %	4.2%	4.3%	-5.8%	-0%	1.7%	7.4%	15.6%
Working capital
Receivable days	135	42	36	48	39	46	67
Inventory days	134	147	152	133	126	149	189
Payable days	—	100	100	121	105	120	141
NWC days	—	89	88	60	60	74	115
Leverage
Current ratio	1.18	1.21	1.43	1.22	1.32	1.48	1.56
Debt to EBITDA	4.04	4.94	11.37	6.96	5.09	4.43	4.55
Debt to equity	2.66	3.09	2.47	1.67	1.66	1.88	1.18
Interest coverage	1.4	1.5	0.4	0.7	1.2	1.6	1.4
Asset turnover	0.58	0.55	0.59	0.69	0.72	0.57	0.48
Return ratios
Return on assets %	2.4%	2.4%	-3.4%	-0%	1.2%	4.3%	7.4%
Return on capital employed %	16%	15.9%	3.8%	6.7%	12.9%	16.9%	15.3%
Return on equity %	12.9%	12.8%	-15.5%	-0%	4.6%	16.6%	20.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

Date	Category	Subject	Filing
28 Sept 2026, 2:55 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Sept 2026, 9:53 am	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
28 Sept 2026, 9:38 am	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
22 Sept 2026, 3:40 pm	AGM/EGM AGM	Submission Of Proceedings Of 20Th Annual General Meeting Of The Company Held On September 22, 2026.	PDF
21 Sept 2026, 2:50 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
21 Sept 2026, 10:49 am	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
10 Sept 2026, 10:34 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
9 Sept 2026, 6:40 pm	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	269	614	1,299	751	44	1,082	1,624	2,845	812	-565	1,204
	-171	-1,007	-1,518	-813	-278	-1,323	445	26	-111	-731	468
	-248	440	350	89	502	261	-2,295	-3,028	-431	1,022	-2,503
Net cash flow	—	—	—	—	—	20	-226	-157	270	-274	-831
Free cash flow	-284	-407	-434	180	-5,042	-3,229	-2,360	-1,071	-4,741	-4,830	-2,034
CFO / Operating profit %	—	—	—	—	2.1%	50.8%	210.2%	297.4%	57.2%	-26.3%	68.2%

Dilip Buildcon Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

10

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Annuity Project and others · revenue

Dilip Buildcon Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Dividends10

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Annuity Project and others · revenue

10

1