Ramky Infrastructure Limited (RAMKY)

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Ramky Infrastructure Limited (RAMKY) · mywealthgrid

About

Ramky Infrastructure is a civil construction company in the Industrials sector, with a market cap of ₹2,699 Cr. Quarterly revenues average ₹450–500 Cr, and the company maintains a low-leverage balance sheet with D/E of 0.27.

Face value: ₹10

Market cap

₹1,900 Cr

P/E

8.1×

P/B

0.9×

Dividend yield

0.4%

ROE

13.3%

ROCE

13.7%

Debt / equity

0.27

OPM

12.5%

EPS (TTM)

₹34.1

Book value

₹312.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins are highly volatile across recent quarters (−7.56% to 17.54%), with two quarters turning negative despite stable revenues of ₹427–506 Cr
EPS swings from ₹5.68 to ₹22.29 in recent quarters while revenues remain relatively flat, suggesting execution or project-mix sensitivity
Stock declined 27.46% over one year; verify whether market concerns about order pipeline, margin sustainability, or execution risk are founded
D/E of 0.27 is conservative; verify what leverage the company can prudently deploy without straining cash conversion, especially given margin volatility

Generated analysis · source review pending

Growth drivers

Revenue stable at ₹450–500 Cr/quarter; margin normalization to Sep–Dec 2025 levels (16–17.54% OPM) would expand profits without volume growth
D/E of 0.27 enables capex or M&A; verify management's plans for project expansion or sector consolidation
Verify infrastructure-sector order pipeline and government capex trends that could drive construction demand

Generated analysis · source review pending

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

₹274.6-6.6%1Y

Quick read

rule-based

Pros

+Profit CAGR of 69.2% over the last 5 years
+High promoter holding of 69.8% with no pledge

Cons

−Low dividend payout of 2.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 40
Growth: 27
Valuation: 93

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

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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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,749	1,387	1,056	1,459	1,705	2,161	2,045	1,846
COGS	0	0	153	0	0	4	1,438	3
Gross profit	—	—	903	—	—	—	606	—
	1,155	1,432	800	1,253	1,367	1,647	270	1,614
	—	-45	103	205	338	510	336	230
OPM %	—	-3.3%	9.7%	14.1%	19.8%	23.6%	16.5%	12.5%
Depreciation	48	45	32	31	42	48	51	57
Interest	378	341	325	373	363	158	120	73
	255	169	185	322	1,456	160	166	255
Profit before tax	3	-263	-70	123	1,389	463	331	354
Tax	3	3	-89	83	237	142	121	71
Tax %	101.6%	1.1%	-128%	67.3%	17%	30.7%	36.4%	20.1%
	-0	-266	19	40	1,153	321	210	283
PAT margin %	0%	-19.2%	1.8%	2.7%	67.6%	14.9%	10.3%	15.3%
EPS (₹)	2.6	-29.4	2.8	3.4	164.8	44.5	28.5	39.2
EPS adjusted (₹)	2.5	-28.5	2.8	3.7	164.8	44.5	28.5	39.2
	0%	—	0%	0%	0%	0%	0%	2.6%
Annual report	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	—

₹ 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	57	57	57	60	69	69	69	69	69	69	69
Reserves	340	293	352	389	251	271	207	1,342	1,643	1,835	2,093
Minority interest	122	117	121	106	23	23	124	136	152	165	—
	2,480	2,650	2,422	2,432	2,168	1,912	2,124	1,650	834	570	591
	2,082	2,482	2,083	1,682	1,838	2,108	2,031	1,453	1,564	1,551	1,370
Total equity & liabilities	5,082	5,599	5,035	4,668	4,350	4,383	4,555	4,651	4,262	4,190	4,124
	414	301	296	278	237	202	265	327	217	206	186
CWIP	7	0	16	0	1	28	28	58	—	0	1
Investments	208	170	138	6	6	7	7	7	0	0	0
	4,453	5,128	4,586	4,384	4,106	4,147	4,254	4,260	4,045	3,984	3,937
Total assets	5,082	5,599	5,035	4,668	4,350	4,383	4,555	4,651	4,262	4,190	4,124

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 %
Construction Business	1,678.93	216.11	3,451.43	1,651.28	1,800.15	12.01
Developer business	633.9	-43.17

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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 %	—	—	85.5%	—	—	—	29.7%	—
EBITDA margin %	—	-3.3%	9.7%	14.1%	19.8%	23.6%	16.5%	12.5%
EBIT margin %	—	-6.5%	6.7%	11.9%	17.4%	21.4%	14%	9.4%
PAT margin %	0%	-19.2%	1.8%	2.7%	67.6%	14.9%	10.3%	15.3%
Working capital
Receivable days	127	96	115	111	81	70	67	152
Inventory days	123	42	350	49	47	26	28	22
Payable days	0	131	1,372	160	151	141	172	165
NWC days	249	7	-908	0	-22	-46	-77	8
Leverage
Current ratio	0.98	0.87	0.9	0.63	0.88	1.12	0.88	1.57
Debt to EBITDA	—	—	18.64	10.35	4.88	1.64	1.7	2.57
Debt to equity	5.42	6.76	5.63	7.69	1.17	0.49	0.3	0.27
Interest coverage	0.5	0.2	0.8	1.3	1.3	3.9	3.8	5
Asset turnover	0.37	0.32	0.24	0.32	0.37	0.51	0.49	0.45
Return ratios
Return on assets %	-0%	-6.1%	0.4%	0.9%	24.8%	7.5%	5%	6.9%
Return on capital employed %	7.4%	3%	11.1%	31.4%	29.9%	24.8%	16.2%	13.7%
Return on equity %	-0%	-83%	5.7%	14.5%	81.7%	18.8%	11.1%	13.1%

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
	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%	69.81%
	0.6%	0.55%	0.61%	0.3%	0.46%	0.74%	1.22%	1.48%	1.3%	1.23%	1.85%	1.92%
	0.38%	0.44%	0.48%	0.48%	0.68%	0.51%	0.61%	0.7%	0.79%	0.79%	0.91%	0.91%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	29.21%	29.2%	29.1%	29.41%	29.05%	28.94%	28.36%	28.01%	28.1%	28.17%	27.43%	27.36%
No. of shareholders	—	—	—	—	—	—	—	—	23,162	22,278	23,216	23,063

Promoter holding up 0 percentage points since Sep 2023.

14 deals · 7 Oct 2025 – 5 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
5 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	11,61,165	₹486.17	₹56.45 Cr
5 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	11,61,165	₹485.78	₹56.41 Cr
5 Mar 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	5,89,697	₹483.92	₹28.54 Cr
5 Mar 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	5,89,697	₹483.50	₹28.51 Cr
5 Mar 2026	GRT STRATEGIC VENTURES LLP	Bulk	NSE	Sell	4,05,107	₹486.36	₹19.70 Cr
5 Mar 2026	GRT STRATEGIC VENTURES LLP	Bulk	NSE	Buy	4,05,107	₹486.00	₹19.69 Cr
5 Mar 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Buy	4,00,144	₹490.84	₹19.64 Cr
5 Mar 2026	ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED	Bulk	NSE	Sell	4,00,144	₹491.87	₹19.68 Cr
5 Mar 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	3,62,720	₹486.40	₹17.64 Cr
5 Mar 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	3,48,913	₹487.95	₹17.03 Cr

1–10 of 14

1 / 2

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. YANCHARLA RATHNAKARA NAGARAJAExecutive Director-MD
Mr. ANANTAPURAM GUGGELA RAVINDRANATH REDDYNon-Executive - Non Independent Director
Mr. SASTRY GANGADHARA PEDDIBHOTLANon-Executive - Independent Director
Mr. RAVIKUMAR REDDY SOMAVARAPUNon-Executive - Independent Director
Mr. ESHWAR REDDY PURMANDLANon-Executive - Independent Director
Mr. ISAAC WESLEY VIJAYAKUMARNon-Executive - Non Independent Director
Ms. MALVIEKA JOSHINon-Executive - Independent Director
Mr. Sunil Sukumaran NairChief Executive Officer
Mr. Sravanth RayapudiChief Financial 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

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	62	0	0%	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.

2

Final dividend18 Sept 2026 · ex-date₹1
Dividend dividend4 Aug 2011 · ex-date₹4.5

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

16 announcementsExport CSV

30 Sept 2026, 3:19 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window 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 %	—	—	85.5%	—	—	—	29.7%	—
EBITDA margin %	—	-3.3%	9.7%	14.1%	19.8%	23.6%	16.5%	12.5%
EBIT margin %	—	-6.5%	6.7%	11.9%	17.4%	21.4%	14%	9.4%
PAT margin %	0%	-19.2%	1.8%	2.7%	67.6%	14.9%	10.3%	15.3%
Working capital
Receivable days	127	96	115	111	81	70	67	152
Inventory days	123	42	350	49	47	26	28	22
Payable days	0	131	1,372	160	151	141	172	165
NWC days	249	7	-908	0	-22	-46	-77	8
Leverage
Current ratio	0.98	0.87	0.9	0.63	0.88	1.12	0.88	1.57
Debt to EBITDA	—	—	18.64	10.35	4.88	1.64	1.7	2.57
Debt to equity	5.42	6.76	5.63	7.69	1.17	0.49	0.3	0.27
Interest coverage	0.5	0.2	0.8	1.3	1.3	3.9	3.8	5
Asset turnover	0.37	0.32	0.24	0.32	0.37	0.51	0.49	0.45
Return ratios
Return on assets %	-0%	-6.1%	0.4%	0.9%	24.8%	7.5%	5%	6.9%
Return on capital employed %	7.4%	3%	11.1%	31.4%	29.9%	24.8%	16.2%	13.7%
Return on equity %	-0%	-83%	5.7%	14.5%	81.7%	18.8%	11.1%	13.1%

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
30 Sept 2026, 3:19 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 6:58 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
19 Sept 2026, 4:37 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
16 Sept 2026, 7:30 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
16 Sept 2026, 7:26 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting Held On 16Th September 2026	PDF
10 Sept 2026, 6:10 pm	Corp. Action Dividend	Corporate Action-Board to consider Dividend	PDF
4 Sept 2026, 9:49 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF
4 Sept 2026, 9:37 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-160	350	421	404	263	230	278	2,611	370	373	-262
	75	78	-21	106	30	-4	-85	-215	-72	-11	413
	110	-491	-421	-477	-195	-227	-327	-1,650	-1,011	-380	-69
Net cash flow	25	-63	-21	33	98	-1	-135	745	-712	-18	82
Free cash flow	-160	410	358	390	257	189	180	2,477	260	227	-299
CFO / Operating profit %	—	—	—	—	—	223.7%	135.3%	772.2%	72.6%	110.9%	-113.9%

Ramky Infrastructure 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

2

1

Announcements

Not in the F&O segment

2

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Construction · revenue

Ramky Infrastructure 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

Dividends2

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Dividends2

Board meetings1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Construction · revenue

2

1

2

1