Afcons Infrastructure Ltd.
NSE: AFCONSAfcons Infrastructure Ltd.: A 30-second snapshot
Afcons Infrastructure, an NSE-listed engineering and construction company in the Infrastructure sector, trades at ₹330.80 — down 22.73% over the past 12 months and 12.7% below its 200-day moving average of ₹378.88. The company carries a debt-to-equity ratio of 66.14 (rising trend), a profit margin of 3.59%, and ranks last on quality score (17 out of a possible 100) among its 6-peer Infrastructure comparison group. Recent newsflow centres on a Croatia railway contract win and an emerging-lowest-bidder position on a ₹5,301 crore Vadhvan Port project.
P/E
27.5
Forward P/E
20.4
ROE
—
Debt / Equity
66.14
Profit Margin
+3.6%
Div. Yield
+0.8%
5Y ROE > 15%
0/5
5Y FCF > 0
2/5
Quality
28/100
News
8 headlines · 5 positive · 0 negative
Afcons Infrastructure emerge lowest bidder for Vadhvan Port breakwater contract with ₹5,301 crore quote - ET Infra
ET Infra
Afcons forays in Europe, with a major railway project in Croatia - The Tribune
The Tribune
India's Afcons emerges as successful bidder to construct railway line in Europe - The Economic Times
The Economic Times
Afcons Infrastructure Ltd Selected For Railway Rehabilitation And Construction In Europe - TradingView
TradingView
AFCONS & Navayuga set world records with Missing Link Expressway - Construction World India
Construction World India
Recent context
- ·Afcons was selected for a railway rehabilitation and construction project in Croatia (May 2026), marking a foray into European infrastructure markets; separately, the company submitted the lowest bid of ₹5,301 crore for the Vadhvan Port breakwater contract.
- ·A world-record construction milestone on the Missing Link Expressway (announced May 2026 via Construction World India) highlights execution capability on large domestic projects, though the financial benefit depends on contract terms and timeline.
- ·Despite a sequence of positive project news in May 2026, the stock has declined 4.3% over the past 3 months and remains below key moving averages, with 9 analysts covering the stock and no analyst consensus rating currently available in the data.
Strengths
- +Trailing PE of 27.49 is the lowest among tracked Infrastructure peers (BEL at 51.98, LT at 33.40, ABB at 87.07, CGPOWER at 108.58, CUMMINSIND at 66.54), reflecting relative valuation compression versus the sector.
- +Forward PE of 20.39 versus trailing PE of 27.49 indicates analyst expectations of earnings improvement; the 9 covering analysts provide some breadth to that estimate base.
- +Price at ₹330.80 is above the 50-DMA of ₹306.63, and RSI of 52.56 is in neutral territory, showing the stock has partially recovered from deeper lows in the near-term window.
- +Active order-book expansion is evidenced by the Croatia railway project win (announced May 2026) and emerging-lowest-bidder status on the ₹5,301 crore Vadhvan Port breakwater contract, adding to the revenue pipeline.
Weaknesses
- −5-year earnings growth of -35.3% and 5-year revenue growth of -7.3% reflect persistent deterioration; zero years of ROE above 15% across the persistence window and a consistency score of 13 indicate structural rather than cyclical profitability pressure.
- −Debt-to-equity of 66.14 with a rising debt trend and FCF positive in only 2 of the tracked years places the balance sheet under material stress, particularly given a thin profit margin of 3.59%.
- −Quality score of 17 ranks last (6th of 6) in the Infrastructure peer comparison; BEL leads at 57, ABB at 47, CGPOWER at 45, and LT at 26 — all materially above Afcons.
- −Price is 12.7% below the 200-DMA of ₹378.88, down 22.73% over 12 months, and 31% below the 52-week high, with three resistance levels (₹350.20, ₹366, ₹396.50) above current price before returning to the 200-DMA zone.
Open questions
- ?Given that the 5-year earnings trend is -35.3% and debt is rising, what specific operational or structural changes would need to materialise for the earnings trajectory to reverse toward the level implied by the forward PE of 20.39?
- ?How does Afcons manage currency and execution risk on international contracts like the Croatia railway project, and what proportion of the order book is now denominated in foreign currency?
- ?The quality score of 17 (last among peers) and a consistency score of 13 reflect a multi-year pattern — is this a function of the project-based revenue model, capital intensity, or working-capital characteristics specific to Afcons?
- ?At a debt-to-equity of 66.14 with a rising trend, what is the company's refinancing exposure over the next 12–24 months, and how does interest coverage track against current EBITDA margins?
Peer comparison: Infrastructure
Ranks 6 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| AFCONS | Afcons Infrastructure Ltd.You're viewing | 27.5 | — | 17 |
| Industry avg | across 5 peers | 69.5 | +17.5% | 40 |
| BEL | Bharat Electronics Ltd. | 52.0 | — | 57 |
| ABB | ABB India Ltd. | 87.1 | — | 47 |
| CGPOWER | CG Power and Industrial Solutions Ltd. | 108.6 | +19.6% | 45 |
| LT | Larsen & Toubro Ltd. | 33.4 | +15.5% | 26 |
| CUMMINSIND | Cummins India Ltd. | 66.5 | — | 24 |
Technical state
Current price
₹330.80
SMA 50
₹306.63
SMA 200
₹378.88
RSI (14)
52.6 (neutral)
From 52w high
-31.0%
1Y return
-22.7%
3M return
-4.3%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- high5-year earnings growth of -35.3% and 5-year revenue growth of -7.3% indicate sustained deterioration on both the top line and bottom line over the medium term.
- highDebt-to-equity of 66.14 is exceptionally elevated; the debt trend is rising, and FCF was positive in only 2 of the tracked years, leaving a thin buffer against any execution slippage on large contracts.
- highProfit margin of 3.59%, quality score of 17 (ranked last, 6th of 6, in the Infrastructure peer set), and zero years of ROE above 15% across the persistence window reflect structural profitability constraints.
- mediumPrice at ₹330.80 is 12.7% below the 200-DMA of ₹378.88 and down 22.73% over 12 months; the stock has not reclaimed its 200-DMA, and the 52-week drawdown stands at -31%.
- lowNews sample of 8 articles is adequate but narrow: the positive sentiment is largely concentrated around a single Croatia railway contract win, limiting the breadth of the signal.
Cross-section contradictions
- News sentiment is positive (5 positive, 0 negative) driven by a new European railway contract and a major port breakwater bid win, yet the stock is down 22.73% over 12 months and trades 12.7% below its 200-DMA, indicating the market has not re-rated on the order-book news flow.
- Forward PE of 20.39 implies meaningful earnings growth relative to the trailing PE of 27.49, yet 5-year earnings growth has been -35.3% — the earnings acceleration embedded in the forward multiple is a significant assumption against a backdrop of persistent decline.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 15 May 2026 · rotates through NIFTY 500 every ~5 days