Ducon Infratechnologies Q3 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹73 Cr
- P/E
- 7.30
- ROE
- 6.60%
- PEG
- 0.20
- Price to sales
- 0.19
- Debt to equity
- 0.63
- 52W high / low
- ₹4.84 / ₹1.23
- Sales growth (5Y)
- 4.17%
- EBITDA margin
- 5.98%
- Net profit margin
- 2.62%
- Promoter holding
- 38.08%
- Sales (last year)
- ₹414 Cr
Incorporated in 2005, Ducon Infratechnologies Ltd is in Engineering, Procurement and Construction business[1]
Guidance scorecard · Q3 FY26 call
What Ducon Infratechnologies Ltd's management guided
and where it ranks in Industrial Manufacturing
Industrial Manufacturing
RevenueQ3 FY26 call
10–20%- Ducon expects significant growth in the next five years, aiming to become much bigger in size and expand into cutting-edge technologies.
- The company is confident of achieving strong top-line revenue growth and improved profitability.
- Growth drivers include tightening emission standards, accelerating industrial capital expenditure across sectors like steel, cement, and refining, and rising demand for environmental retrofits.
- Emerging opportunities in carbon capture, utilization, and storage (CCUS), backed by government fiscal support and policy tailwinds, are expected to contribute to revenue.
- Launching the iQ Energy AI platform and expanding digital, technology-enabled services are anticipated to open new revenue streams.
2 more points from Ducon Infratechnologies Ltd's call on revenue
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MarginsQ3 FY26 call
FlatSee what Ducon Infratechnologies Ltd said on margins — free account, 30 seconds.
CapexQ3 FY26 call
Planned- The company has reduced existing debt and aims to continue reducing debt in the future rather than taking on new debt for expansion.
- Ducon is focusing on expanding capabilities in new and cutting-edge areas such as carbon capture technology and digital/AI platforms (e.g., the iQ Energy AI platform).
- Investments seem to be more in technology development and R&D (especially in carbon capture and digital optimization) rather than traditional capex.
- The company is confident about growth through technology differentiation, execution excellence, and digital integration rather than heavy capital investment.
FundraisingQ3 FY26 call
None plannedSee what Ducon Infratechnologies Ltd said on fundraising — free account, 30 seconds.
Order bookQ3 FY26 call
- The company mentions having a "healthy order backlog" with a lot of repeat business from established customers.
- Projects are typically long-term, ranging from smaller orders of 5-10 crore INR completed in 5-6 months to large turnkey projects worth 100-150 crore INR spanning 2 to 2.5 years or more.
- Revenue comprises both carry-forward from existing orders and fresh executions, as projects have long execution cycles and engineering phases.
- The company aims to expand in emerging segments like carbon capture and digital solutions, which may contribute to future order inflows.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of Ducon Infratechnologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Ducon Infratechnologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | 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 + | 111.54 | 103.60 | 91.10 | 109.01 | 112.29 | 107.12 | 109.56 | 110.85 | 112.68 | 119.34 | 112.90 | 113.97 | 94.30 |
| Expenses + | 105.02 | 101.57 | 87.94 | 104.32 | 105.64 | 99.65 | 102.77 | 102.61 | 105.14 | 110.43 | 105.67 | 106.21 | 88.46 |
| Operating Profit | 6.52 | 2.03 | 3.16 | 4.69 | 6.65 | 7.47 | 6.79 | 8.24 | 7.54 | 8.91 | 7.23 | 7.76 | 5.84 |
| OPM % | 5.85% | 1.96% | 3.47% | 4.30% | 5.92% | 6.97% | 6.20% | 7.43% | 6.69% | 7.47% | 6.40% | 6.81% | 6.19% |
| Other Income + | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 3.28 | 1.29 | 2.29 | 2.94 | 2.00 | 2.72 | 2.24 | 2.67 | 2.50 | 3.40 | 2.29 | 2.10 | 2.10 |
| Depreciation | 0.01 | 0.59 | 0.02 | 0.58 | 0.32 | 0.32 | 0.02 | 0.60 | 0.02 | 0.64 | 0.33 | 0.33 | 0.34 |
| Profit before tax | 3.23 | 0.15 | 0.85 | 1.17 | 4.33 | 4.43 | 4.53 | 4.97 | 5.02 | 4.87 | 4.61 | 5.33 | 3.40 |
| Tax % | 28.17% | -6.67% | 29.41% | 31.62% | 28.18% | 29.80% | 32.23% | 30.38% | 31.87% | 25.87% | 32.10% | 30.77% | 31.76% |
| Net Profit + | 2.32 | 0.17 | 0.61 | 0.80 | 3.11 | 3.11 | 3.07 | 3.46 | 3.41 | 3.61 | 3.13 | 3.69 | 2.31 |
| EPS in Rs | 0.07 | 0.01 | 0.02 | 0.02 | 0.10 | 0.10 | 0.09 | 0.11 | 0.10 | 0.11 | 0.10 | 0.11 | 0.07 |
Financials of Ducon Infratechnologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| Sales + | 342 | 384 | 396 | 419 | 451 | 441 |
| Expenses + | 329 | 368 | 379 | 398 | 421 | 411 |
| Operating Profit | 13 | 17 | 16 | 21 | 30 | 30 |
| OPM % | 4% | 4% | 4% | 5% | 7% | 7% |
| Other Income + | 1 | 0 | 1 | 1 | 2 | 0 |
| Interest | 12 | 10 | 10 | 10 | 11 | 10 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 1 | 6 | 6 | 11 | 19 | 18 |
| Tax % | 22% | 29% | 27% | 29% | 30% | |
| Net Profit + | 0 | 4 | 4 | 8 | 14 | 13 |
| EPS in Rs | 0.02 | 0.16 | 0.13 | 0.23 | 0.42 | 0.39 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Ducon Infratechnologies Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 18 | 21 | 26 | 26 | 32 | 32 |
| Reserves | 128 | 130 | 96 | 94 | 135 | 142 |
| Borrowings + | 65 | 82 | 95 | 103 | 102 | 101 |
| Other Liabilities + | 64 | 68 | 59 | 69 | 33 | 30 |
| Total Liabilities | 275 | 300 | 276 | 292 | 302 | 305 |
| Fixed Assets + | 0 | 6 | 5 | 4 | 4 | 3 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 5 | 5 | 5 | 5 | 5 | 5 |
| Other Assets + | 270 | 289 | 265 | 283 | 293 | 297 |
| Total Assets | 275 | 300 | 276 | 292 | 302 | 305 |
Financials of Ducon Infratechnologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -54 | 16 | 1 | 12 | -28 |
| Cash from Investing Activity + | -0 | -7 | -0 | -0 | -0 |
| Cash from Financing Activity + | 54 | -9 | -0 | -12 | 29 |
| Net Cash Flow | -0 | -0 | 0 | 0 | 0 |
| Free Cash Flow | -54 | 9 | 0 | 12 | -29 |
| CFO/OP | -429% | 111% | 20% | 64% | -70% |
Financials of Ducon Infratechnologies Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 266 | 255 | 223 | 225 | 196 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 |
| Days Payable | |||||
| Cash Conversion Cycle | 266 | 255 | 223 | 225 | 196 |
| Working Capital Days | 141 | 124 | 101 | 92 | 99 |
| ROCE % | 7% | 7% | 9% | 12% |
Guidance history
How Ducon Infratechnologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q3 FY26 call → | 10–20% | Flat | Planned | None planned | — |
| Q3 FY17 call → | 10–20% | Up 2%+ | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Ducon Infratechnologies Ltd's management said in earlier quarters
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