Arthneeti

Man Infraconstruction Q2 FY27 Share Price & Earnings Call Analysis

₹110.66-1.29% today
Market cap
₹4,467 Cr
P/E
20.62
ROE
9.16%
PEG
-1.95
Price to sales
6.71
Debt to equity
0.03
52W high / low
₹149 / ₹78.4
Sales growth (5Y)
8.10%
EBITDA margin
24.00%
Net profit margin
30.81%
Promoter holding
62.52%
Sales (last year)
₹666 Cr

Man Infraconstruction Limited (MICL) is an integrated EPC (Engineering, Procurement & Construction) company with experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments. [1]

Guidance scorecard · Q2 FY27 call

What Man Infraconstruction Ltd's management guided
and where it ranks in Realty

#3of 41 in
Realty
Revenue20–40%MarginsUp 2%+CapexPlannedFundraisingNone plannedOrder bookRising

RevenueQ1 FY27 call

20–40%
  • MICL targets cumulative pre-sales of ₹5,000 crore over the next two years, driven by robust project launches.
  • Sales momentum is expected to pick up with upcoming launches like Marine Lines and Berkeley House; 25% of sales target achieved within two months.
  • Revenue recognition is spread across multiple years depending on project size: Marine Lines (5-6 years), Berkeley House (3 years), Ghatkopar (completing by March), Pali Hill (2.5-3 years).
  • Consolidated revenue grew 8% YoY to ₹218 crores in Q1 FY27; PAT grew 29% YoY to ₹72 crores.
  • Bottom line expected to triple from ₹30 crores to ₹500 crores within 2-3 years.
  • The group aims to achieve a development portfolio GDV of ₹35,000 crore by 2031, potentially earlier.

2 more points from Man Infraconstruction Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 2%+

See what Man Infraconstruction Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • MICL is actively investing in acquiring new projects, with a focus on expanding their development portfolio to a GDV of over ₹35,000 crore by 2031, targeting significant launches within Mumbai and the USA.
  • The company has recently invested around $5 million in an oceanfront property in Miami as part of its US market venture.
  • In the US, they have completed construction of luxury villas and branded residences by Ritz-Carlton, with a $25 million presale achieved for the latter.
  • MICL holds substantial liquidity (₹768 crores cash as of June 2026) and plans to deploy this for acquisitions and project execution without raising debt.

2 more points from Man Infraconstruction Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what Man Infraconstruction Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • MICL is on the verge of finalizing a significantly large EPC order, expected to be announced within the next two quarters.
  • The company is strong in the port EPC sector, nearing completion of a major project.
  • MICL has an in-house portfolio with a total construction worth around ₹9,000 to ₹10,000 crores, which includes residential and commercial projects.
  • The order book reflects this ₹9,000-10,000 crore portfolio executed in-house, allowing MICL to save EPC margins internally and retain those earnings within the group.
Full Q1 FY27 analysis
Full Realty ranking

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 Realty
on management's own guidance

  1. Sobha LtdGood growth
    2
  2. Strong growth
    1
  3. This stockMan Infraconstruction LtdGood growth
    3
See all potential multibaggersAll Realty rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Realty companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹12,035 Cr41.1
2Sobha Ltd20–40%Up 2%+₹12,548 Cr54.4
3Man Infraconstruction LtdThis stock20–40%Up 2%+₹4,602 Cr21.2
420–40%Up 2%+₹1,157 Cr12.7
520–40%Flat₹1.06L Cr25.6
620–40%Flat₹61,922 Cr23.4

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Financials of Man Infraconstruction Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Man Infraconstruction Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +67.19%67.31%67.31%67.18%66.62%66.65%65.10%62.29%62.43%62.46%62.52%62.52%
FIIs +3.50%3.55%3.57%3.71%4.56%3.81%4.28%5.21%3.92%3.80%1.92%1.79%
DIIs +2.09%2.10%2.09%1.69%2.15%2.16%2.12%2.03%2.03%1.93%1.13%0.03%
Public +27.19%27.04%27.04%27.40%26.66%27.37%28.49%30.47%31.61%31.79%34.42%35.66%
No. of Shareholders78,87487,45896,7111,08,1991,00,98399,60194,50492,48990,67887,24287,96186,247

Financials of Man Infraconstruction Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +215242297342230242294183149153146218266
Expenses +151139247258203181187142112121127147185
Operating Profit6410350842861106413733197281
OPM %30%42%17%24%12%25%36%22%25%21%13%33%30%
Other Income +28314236413337454645422220
Interest67124335322356
Depreciation2332222234433
Profit before tax83123771136389136807872558591
Tax %21%30%16%25%25%5%28%27%23%28%25%26%28%
Net Profit +65876584478497586052416365
EPS in Rs1.882.241.762.091.202.232.051.441.371.161.061.771.55

Financials of Man Infraconstruction Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2752264526523712674279611,8901,2631,108630783
Expenses +2451913434532712693317141,476937807502579
Operating Profit2935109199101-297248414326301129204
OPM %11%16%24%31%27%-0.8%23%26%22%26%27%20%26%
Other Income +6633514446322620253116123179129
Interest7214056545758625835151016
Depreciation128887799111081214
Profit before tax753911217985-3455379397397401285303
Tax %35%60%42%39%50%-64%40%21%27%24%22%26%
Net Profit +49156610943-1233299289303313211221
EPS in Rs1.280.471.431.791.13-0.190.865.836.968.097.534.975.54
Dividend Payout %14%215%25%20%75%-191%70%22%13%20%12%18%

Financials of Man Infraconstruction Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital50505050505050747474758181
Reserves5885526056396446206257851,0151,3891,6882,1862,204
Borrowings +158283305437450405506557206131366453
Other Liabilities +148139239226202224275300486560378443580
Total Liabilities9431,0241,1981,3511,3471,2981,4561,7161,7812,1542,1772,7732,918
Fixed Assets +43374034838159606153496164
CWIP125130130130132012-0-0-0-0-0
Investments12011516897242263150113277272530680
Other Assets +6557428611,0901,1081,1951,3331,5041,6071,8241,8562,1822,174
Total Assets9431,0241,1981,3511,3471,2981,4561,7161,7812,1542,1772,7732,918

Financials of Man Infraconstruction Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-45-16994-169168878187448573133-50
Cash from Investing Activity +5063-598711983-8428-102-397-115-323
Cash from Financing Activity +6118-1744-129-13720-91-458-28-116306
Net Cash Flow111218-3963414123-111148-98-67
Free Cash Flow-77-179131-170-493107191441579130-55
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-72%-430%123%-48%58%-5,254%107%114%127%199%71%19%

Financials of Man Infraconstruction Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1821997754132112894864422941
Inventory Days9151,3981,4895,3442,2111,545837186743950
Days Payable25234024139625730119597181141
Cash Conversion Cycle8451991,1341,3025,0812,0661,33469015360483841
Working Capital Days37743319122441371335919594194349740
ROCE %8%7%15%21%12%2%10%33%32%28%24%13%

Guidance history

How Man Infraconstruction Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%Up 2%+PlannedNone plannedRising
Q4 FY26 call →40%+FlatPlanned——
Q4 FY26 call →20–40%Up 2%+Planned—Flat
Q4 FY25 call →20–40%FlatPlannedPlannedFlat

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

23out of 100

Momentum score · price trend

23 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−24.4%31%
Last 6 months−8.1%40%
Last 3 months+15.2%84%

The price is 56.6% below its all-time high of ₹255.26 (27 Dec 2024). Stocks more than 20% below their peak have their score halved, so 45 became 23.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Man Infraconstruction Ltd: 0.4 × 31 + 0.4 × 40 + 0.2 × 84 = 45, halved to 23 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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