Man Infraconstruction Limited (MANINFRA)

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Man Infraconstruction Limited (MANINFRA) · mywealthgrid

About

Man Infraconstruction Limited operates residential and commercial real estate projects in the Consumer Discretionary sector. With a market cap of ₹4,285.28 Cr, it executes multiple project types generating quarterly revenues ranging ₹57–₹218 Cr. The 52-week trading range of ₹78–₹167 reflects the sector's inherent volatility.

Face value: ₹2

Market cap

₹5,018 Cr

P/E

23.3×

P/B

2.2×

Dividend yield

1.3%

ROE

10.5%

ROCE

13.2%

Debt / equity

0.03

OPM

20.4%

EPS (TTM)

₹5.3

Book value

₹56.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins fluctuate sharply (13–69% range) across recent quarters, suggesting variable project profitability or execution consistency—verify which project types or segments drive low-margin quarters
Stock down 36.44% over 1 year despite quarterly profitability; verify whether decline reflects sector headwinds or project-execution delays specific to the company
Real estate execution risk: project delays, cost inflation, regulatory changes, or demand weakness are typical sector risks—verify current project status, timelines, and buyer demand signals
Institutional investor exit: FII holdings fell from 3.8% to 1.91%, DII from 1.93% to 1.13% (Mar to Jun 2026); verify whether outflow reflects broader sentiment or company-specific concerns

Generated analysis · source review pending

Growth drivers

Dual revenue streams reported each quarter (ranging ₹57–₹218 Cr) indicate multiple project or segment execution; verify if pipeline depth supports sustained revenue acceleration
Consistent quarterly profitability (net profit ₹30–₹62.74 Cr across eight quarters) demonstrates project-execution capability; verify if growth comes from volume expansion or margin improvement
Achievable operating margins of 33–69% in certain quarters signal selective project-execution quality; verify sustainability of high-margin project mix in the upcoming pipeline
Regular dividend payouts (five events 2025–2026) indicate cash generation from operations; verify free cash flow trend and capital allocation policy

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹124.3-2.8%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.8%
+Healthy operating margin of 20.4%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 27.3×
+Dividend payout of 30.4% of profit
+High promoter holding of 62.5% with no pledge

Cons

−Low return on equity of 10% (3-yr avg)
−Profit declined 10% a year over the last 3 years
−Modest revenue growth of 8.1% a year over the last 5 years
−Promoter holding fell 2.6 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality

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.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

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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 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	652	371	267	427	961	1,890	1,263	1,108	630
COGS	78	26	63	95	196	747	248	204	3
Gross profit	573	345	204	332	766	1,144	1,016	904	—
	375	230	202	234	517	725	670	604	481
	198	115	2	98	249	419	346	301	146
OPM %	30.4%	30.9%	0.9%	22.9%	25.9%	22.2%	27.4%	27.1%	23.2%
Depreciation	8	7	7	9	9	11	10	8	12
Interest	56	53	57	58	62	58	35	15	10
	44	32	27	25	201	48	97	123	162
Profit before tax	179	85	-34	55	379	397	397	401	285
Tax	70	43	-22	22	80	108	94	88	74
Tax %	38.9%	50.2%	-64.5%	39.5%	21.2%	27.2%	23.6%	21.9%	25.9%
	109	43	-12	33	299	289	303	313	211
PAT margin %	16.8%	11.5%	-4.6%	7.8%	31.1%	15.3%	24%	28.2%	33.5%
EPS (₹)	2.7	1.7	-0.3	1.3	5.8	7	8.1	7.6	5.1
EPS adjusted (₹)	—	—	—	-0	-0	7.8	0.1	8.3	5.2
	20.1%	74.6%	—	69.8%	21.6%	12.9%	20%	11.9%	—
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	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	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	50	50	74	74	74	75	81
Reserves	555	625	785	1,015	1,389	1,688	2,186
Minority interest	—	19	70	56	53	81	47
	352	506	557	206	131	36	58
	193	256	230	430	507	298	407
Total equity & liabilities	1,150	1,456	1,717	1,781	2,155	2,177	2,778
	38	43	51	55	45	42	50
CWIP	1	1	2	0	—	0	0
Investments	119	79	159	119	286	279	536
	991	1,333	1,505	1,607	1,824	1,857	2,192
Total assets	1,150	1,456	1,717	1,781	2,155	2,177	2,778

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 %
Real Estate	329.39	163.04	1,855.42	292.57	1,562.85	10.43
EPC (Engineering, Procurement and Contacting)	303.79	79.9

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	92.9%	76.5%	77.7%	79.6%	60.5%	80.4%	81.6%	—
EBITDA margin %	26.8%	-1%	22.6%	25.7%	21.9%	25.8%	29.3%	20.4%
EBIT margin %	24.8%	-3.7%	20.5%	24.8%	21.3%	25%	28.5%	18.5%
PAT margin %	11.5%	-4.6%	7.8%	31.1%	15.3%	24%	28.2%	33.5%
Working capital
Receivable days	—	—	89	48	64	42	29	41
Inventory days	—	—	1,545	837	186	743	950	537
Payable days	—	—	301	195	97	181	141	54
NWC days	—	—	1,333	690	153	604	838	525
Leverage
Current ratio	—	—	2.58	3.54	2.3	3.42	5.99	5.55
Debt to EBITDA	—	—	5.24	2.25	0.5	0.4	0.11	0.45
Debt to equity	—	—	0.75	0.65	0.19	0.09	0.02	0.03
Interest coverage	2.3	0.3	1.9	7.1	7.7	11.8	29.8	27.3
Asset turnover	—	—	0.29	0.56	1.06	0.59	0.51	0.23
Return ratios
Return on assets %	—	—	2.3%	17.4%	16.2%	14.1%	14.4%	7.6%
Return on capital employed %	—	—	11%	37.5%	36.2%	29.8%	25.4%	13.2%
Return on equity %	—	—	4.9%	34.7%	26.5%	20.7%	17.7%	9.3%

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
	67.15%	67.19%	67.31%	67.31%	67.18%	66.62%	66.65%	65.1%	62.3%	62.44%	62.46%	62.52%
	3.71%	3.5%	3.55%	3.57%	3.71%	4.56%	3.81%	4.28%	5.21%	3.92%	3.8%	1.91%
	2.18%	2.19%	2.21%	2.09%	1.69%	2.15%	2.16%	2.13%	2.03%	2.04%	1.93%	1.13%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.96%	27.12%	26.93%	27.03%	27.42%	26.67%	27.38%	28.49%	30.46%	31.6%	31.81%	34.44%
No. of shareholders	—	—	—	—	—	—	—	—	92,489	90,678	87,242	87,961

Promoter holding down 4.63 percentage points since Sep 2023.

6 disclosures

Person	Deal	Shares	Value	Holding	Filed
Ashish Nanchand Vora	BuyConversion of security	33,900	₹52.55 L	0.01% → 0.02%	20 Sept 20257(2)
Parag K. ShahPromoters	Sell	2,36,340	₹3.85 cr	8.80% → 8.74%

9 deals · 12 Jun 2023 – 23 Jan 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
23 Jan 2025	UBS PRINCIPAL CAPITAL ASIA LIMITED	Block	NSE	Sell	5,79,912	₹211.50	₹12.27 Cr
23 Jan 2025	UBS AG	Block	NSE	Buy	5,79,912	₹211.50	₹12.27 Cr
29 Nov 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	21,39,001	₹225.78	₹48.29 Cr
29 Nov 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	21,39,001	₹225.63	₹48.26 Cr
29 Nov 2024	SW CAPITAL PRIVATE LIMITED	Bulk	NSE	Buy	18,69,133	₹224.13	₹41.89 Cr
29 Nov 2024	SW CAPITAL PRIVATE LIMITED	Bulk	NSE	Sell	18,07,673	₹221.84	₹40.10 Cr
23 Nov 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	28,57,490	₹177.61	₹50.75 Cr
23 Nov 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	28,57,490	₹177.47	₹50.71 Cr
12 Jun 2023	SOCIETE GENERALE	Bulk	BSE	Buy	39,31,744	₹102.00	₹40.10 Cr

1–9 of 9

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. BERJIS MINOO DESAINon-Executive - Non Independent Director-Chairperson
Mr. PARAG KISHORCHANDRA SHAHNon-Executive - Non Independent Director
Mr. MANAN PARAG SHAHExecutive Director
Mr. ASHOK MANHARLAL MEHTAExecutive Director
Mrs. KAVITA BHASKAR UPADHYAYNon-Executive - Independent Director
Mrs. KSHITIJA GUNWANTRAO WADATKARNon-Executive - Independent Director
Mr. Rajiv Nagindas ShethNon - Executive Independent Director
Durgesh DingankarCompany 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 1 fund houses

Held by these funds

of the company's equity

All mutual funds

1.13%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	431	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

142 announcementsExport CSV

1 Oct 2026, 4:50 pmCorp. Action

Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares

Daily Buy Back of equity shares PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	92.9%	76.5%	77.7%	79.6%	60.5%	80.4%	81.6%	—
EBITDA margin %	26.8%	-1%	22.6%	25.7%	21.9%	25.8%	29.3%	20.4%
EBIT margin %	24.8%	-3.7%	20.5%	24.8%	21.3%	25%	28.5%	18.5%
PAT margin %	11.5%	-4.6%	7.8%	31.1%	15.3%	24%	28.2%	33.5%
Working capital
Receivable days	—	—	89	48	64	42	29	41
Inventory days	—	—	1,545	837	186	743	950	537
Payable days	—	—	301	195	97	181	141	54
NWC days	—	—	1,333	690	153	604	838	525
Leverage
Current ratio	—	—	2.58	3.54	2.3	3.42	5.99	5.55
Debt to EBITDA	—	—	5.24	2.25	0.5	0.4	0.11	0.45
Debt to equity	—	—	0.75	0.65	0.19	0.09	0.02	0.03
Interest coverage	2.3	0.3	1.9	7.1	7.7	11.8	29.8	27.3
Asset turnover	—	—	0.29	0.56	1.06	0.59	0.51	0.23
Return ratios
Return on assets %	—	—	2.3%	17.4%	16.2%	14.1%	14.4%	7.6%
Return on capital employed %	—	—	11%	37.5%	36.2%	29.8%	25.4%	13.2%
Return on equity %	—	—	4.9%	34.7%	26.5%	20.7%	17.7%	9.3%

Date	Category	Subject	Filing
1 Oct 2026, 4:50 pm	Corp. Action Daily Buy Back of equity shares	Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares	PDF
30 Sept 2026, 4:56 pm	Corp. Action Daily Buy Back of equity shares	Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares	PDF
29 Sept 2026, 4:57 pm	Corp. Action Daily Buy Back of equity shares	Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares	PDF
28 Sept 2026, 4:58 pm	Corp. Action Daily Buy Back of equity shares	Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares	PDF
28 Sept 2026, 3:59 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Sept 2026, 8:14 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
22 Sept 2026, 5:44 pm	AGM/EGM Postal Ballot	Man Infraconstruction Ltd - 533169 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
22 Sept 2026, 5:38 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot	PDF

₹ Cr	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-155	78	187	448	573	133	-50
	-31	-84	28	-102	-397	-115	-323
	125	20	-82	-458	-28	-116	306
Net cash flow	-61	14	132	-111	148	-98	-67
Free cash flow	—	62	165	433	558	124	-74
CFO / Operating profit %	—	81.1%	75.5%	108.2%	175.5%	41%	-38.6%

Man Infraconstruction 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

Credit ratings

Investor Presentation and earnings call

25

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

EPC (Engineering, Procurement and Contacting) · revenue

Man Infraconstruction 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

Insider dealing

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

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends25

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

EPC (Engineering, Procurement and Contacting) · revenue

25

1

1