---
title: "IVRCL Ltd (IVRCLINFRA) — Share Price, Financials & Analysis"
symbol: "IVRCLINFRA"
company: "IVRCL Ltd"
canonical: "https://tapetide.com/stocks/IVRCLINFRA"
isin: "INE875A01025"
nse_symbol: "IVRCLINFRA"
bse_code: "530773"
sector: "Industrials"
industry: "Construction"
generated_at: "2026-09-13T18:59:10.570Z"
---

# IVRCL Ltd (IVRCLINFRA)

Canonical page: https://tapetide.com/stocks/IVRCLINFRA

## Company

- **NSE Symbol:** IVRCLINFRA
- **BSE Code:** 530773
- **ISIN:** INE875A01025
- **Sector:** Industrials
- **Industry:** Construction
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** ivrcl.com

## About

IVRCL is engaged in the business of development and execution of Engineering, Procurement, Construction and Commissioning (EPCC) and Lump Sum Turn Key (LSTK) facilities in various infrastructure projects such as water supply, Roads and Bridges, Townships and Industrial Structures, Power Transmission etc.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -46.5% over past five years.
- Promoter holding is low: 5.37%
- Promoters have pledged 100% of their holding.
- Company has high debtors of 10,188 days.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -17% | -25% | -16% |
| revenue growth | 14% | -58% | -46% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 23 | 26 | 14 | 16 | 5 | 6 | 7 | 0 | 8 | 7 | 2 | 4 |
| Expenses | 64 | 36 | 20 | 43 | 43 | 21 | 14 | 10 | 17 | 14 | 10 | 11 |
| Operating Profit | -42 | -10 | -6 | -28 | -38 | -15 | -7 | -9 | -9 | -6 | -8 | -7 |
| OPM % | -182 | -38 | -46 | -176 | -739 | -236 | -110 | -1971 | -111 | -88 | -539 | -150 |
| Other Income | 3 | 3 | 5 | 2 | 9 | 9 | 22 | 2 | 2 | 2 | 2 | 2 |
| Interest | 580 | 612 | 646 | 672 | 694 | 716 | 756 | 789 | 803 | 846 | 895 | 932 |
| Depreciation | 3 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Profit before tax | -622 | -621 | -649 | -699 | -725 | -723 | -742 | -798 | -811 | -852 | -902 | -938 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -623 | -622 | -649 | -700 | -726 | -724 | -743 | -798 | -811 | -852 | -903 | -938 |
| EPS in Rs | -7.96 | -7.94 | -8.29 | -8.94 | -9.27 | -9.24 | -9.49 | -10.2 | -10.36 | -10.88 | -11.53 | -11.98 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2015 | 1413 | 729 | 489 | 312 | 287 | 74 | 61 | 21 | 21 |
| Expenses | 2386 | 1941 | 855 | 1019 | 1476 | 327 | 147 | 143 | 62 | 52 |
| Operating Profit | -370 | -528 | -126 | -529 | -1164 | -41 | -73 | -82 | -40 | -30 |
| OPM % | -18 | -37 | -17 | -108 | -373 | -14 | -98 | -136 | -189 | -142 |
| Other Income | 37 | -389 | -150 | -38 | 16 | 12 | 14 | 20 | 35 | 8 |
| Interest | 685 | 1014 | 1219 | 1397 | 1618 | 1904 | 2230 | 2625 | 3064 | 3476 |
| Depreciation | 72 | 65 | 48 | 33 | 24 | 18 | 13 | 8 | 5 | 5 |
| Profit before tax | -1090 | -1995 | -1544 | -1997 | -2791 | -1951 | -2302 | -2695 | -3075 | -3503 |
| Tax % | -88 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -130 | -1991 | -1545 | -1999 | -2792 | -1953 | -2304 | -2696 | -3076 | -3504 |
| EPS in Rs | -1.65 | -25.43 | -19.74 | -25.53 | -35.66 | -24.94 | -29.42 | -34.44 | -39.29 | -44.75 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 |
| Reserves | 230 | -1761 | -3306 | -5302 | -8107 | -10060 | -12363 | -15058 | -18134 | -19888 |
| Borrowings | 5347 | 6218 | 7058 | 7756 | 8491 | 9460 | 10443 | 11678 | 13152 | 14002 |
| Other Liabilities | 3221 | 3782 | 4328 | 5193 | 5983 | 7021 | 8288 | 9677 | 11254 | 12143 |
| Total Liabilities | 8955 | 8396 | 8237 | 7804 | 6522 | 6577 | 6524 | 6453 | 6429 | 6413 |
| Fixed Assets | 315 | 235 | 187 | 153 | 134 | 116 | 103 | 95 | 90 | 88 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1867 | 1870 | 1870 | 1872 | 1848 | 1834 | 1834 | 1834 | 1834 | 1830 |
| Other Assets | 6773 | 6291 | 6180 | 5778 | 4541 | 4627 | 4587 | 4524 | 4505 | 4495 |
| Total Assets | 8955 | 8396 | 8237 | 7804 | 6522 | 6577 | 6524 | 6453 | 6429 | 6413 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -130 | -134 | -192 | -354 | -65 | -28 | 20 | 90 | 3 | 18 |
| Cash from Investing Activity | -44 | -57 | 54 | 3 | -25 | 24 | -20 | 2 | 2 | -7 |
| Cash from Financing Activity | 152 | 187 | 216 | 281 | 95 | 0 | 0 | -147 | 0 | 0 |
| Net Cash Flow | -22 | -4 | 78 | -70 | 6 | -4 | 0 | -55 | 5 | 10 |
| Free Cash Flow | -128 | -128 | -173 | -354 | -65 | -28 | 20 | 89 | 3 | 18 |
| CFO/OP | 55 | 63 | 31 | 266 | 10 | 9 | -64 | -125 | -7 | -45 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 267 | 252 | 308 | 501 | 593 | 913 | 892 | 3109 | 3809 | 10188 |
| Inventory Days | 97 | 133 | 109 | 394 | — | — | — | — | — | — |
| Days Payable | 1069 | 1924 | 2123 | 9828 | — | — | — | — | — | — |
| Cash Conversion Cycle | -705 | -1538 | -1706 | -8932 | 593 | 913 | 892 | 3109 | 3809 | 10188 |
| Working Capital Days | -305 | -610 | -1649 | -4027 | -7331 | -14652 | -18609 | -83489 | -117993 | -385367 |
| ROCE % | -8 | -7 | -10 | -4 | -17 | -74 | -98 | — | — | — |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% |
| FIIs | 0.06% | 0.01% | 0.68% | 0.68% | 0.68% | 0.68% | 1.55% | 1.55% | 1.55% |
| DIIs | 56.51% | 55.89% | 50.16% | 45.06% | 45.06% | 45.06% | 44.18% | 44.18% | 44.18% |
| Public | 38.06% | 38.73% | 43.79% | 48.89% | 48.89% | 48.89% | 48.89% | 48.89% | 48.88% |
| No. of Shareholders | 185486 | 169062 | 162543 | 163301 | 163681 | 163542 | 163069 | 162804 | 162648 |

### Quarterly

| Category | Dec 2021 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% |
| FIIs | 0.68% | 1.04% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| DIIs | 45.06% | 44.69% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% |
| Public | 48.89% | 48.9% | 48.88% | 48.89% | 48.88% | 48.89% | 48.88% | 48.89% | 48.89% | 48.88% | 48.88% | 48.88% |
| No. of Shareholders | 163542 | 163203 | 163136 | 163069 | 162993 | 162946 | 162894 | 162804 | 162764 | 162716 | 162684 | 162648 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 2 / 5

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 301.59 | Sell |
| EMA (10) | 291.35 | Buy |
| SMA (20) | 266 | Buy |
| EMA (20) | 263.86 | Buy |
| SMA (50) | 177.67 | Buy |
| EMA (50) | 201.88 | Buy |
| SMA (100) | 130.86 | Buy |
| EMA (100) | 153.47 | Buy |
| SMA (200) | 90.64 | Buy |
| EMA (200) | 112.2 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 85.21 | Sell |
| MACD (12,26,9) | 38.52 | Sell |
| Stochastic (14,3,3) | 83.5 | Sell |
| ADX (14) | 76.68 | Buy |
| Williams %R (14) | -16.35 | Sell |
| ATR (14) | 6.41 | Neutral |
| ROC (12) | 16.24 | Buy |
| Stoch RSI (14) | 5.59 | Buy |
| UO (7,14,28) | 56.47 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-02-16 | [Quarterly Financial Results Dec-25](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=33a9cbfb-4eee-4572-a1ab-ea3590a636cc.pdf) |
| 2026-02-09 | [Board Meeting Intimation for Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=17c3b113-8cfa-4db3-8cf6-94dac7990a88.pdf) |
| 2026-01-02 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=78199caa-c357-4982-a7ab-88df7342c987.pdf) |
| 2025-12-31 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4ebc3201-f4f4-4db1-9b34-96e0eafc5d7c.pdf) |
| 2025-12-11 | [Quarterly Financial Results SEP 25](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e2bb3d1d-7ad4-454a-b96f-915ca0b172f4.pdf) |
| 2025-12-10 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0277cacd-0648-4cef-8826-d15b588cb69d.pdf) |
| 2025-11-14 | [Corporate Insolvency Resolution Process (CIRP)-Liquidation - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=279a1efe-35f7-434d-83a2-46ae7df2d89c.pdf) |
| 2025-11-07 | [Board Meeting Intimation for Quarterly Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f6006439-b812-4250-832f-82d2488af391.pdf) |
| 2025-08-13 | [Financial Results June2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=edf11ea3-1228-46e1-aabe-654c38fbadb8.pdf) |
| 2025-08-07 | [Board Meeting Intimation for Quarterly Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=07ef7186-4abd-47f3-a51e-619fe058ac83.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Liquidator to consider unaudited results for quarter ended 31 Dec 2025 on 13 Feb 2026. | [Board Meeting Intimation for Financial Results 9 Feb - Liquidator to consider unaudited results for quarter ended 31 Dec 2025 on 13 Feb 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/17c3b113-8cfa-4db3-8cf6-94dac7990a88.pdf) |
| — | [Quarterly Financial Results Dec-25 16 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/33a9cbfb-4eee-4572-a1ab-ea3590a636cc.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 2 Jan](https://www.bseindia.com/xml-data/corpfiling/AttachHis/78199caa-c357-4982-a7ab-88df7342c987.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Outcome of AGM 31 Dec 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4ebc3201-f4f4-4db1-9b34-96e0eafc5d7c.pdf) |
| — | [Quarterly Financial Results SEP 25 11 Dec 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2bb3d1d-7ad4-454a-b96f-915ca0b172f4.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1989_IVRCLINFRA_2012_2013_25092013101133.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_IVRCLINFRA_2009_2010_26082010120000.zip) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/68173530773.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/530773/5307730313.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:59:10.570Z.