Afcons Infrastructure share price & results

Afcons Infrastructure Limited· Construction· Industrials

Results to: Sept 2026
Latest analysed call: Q2 FY27
Ownership as of: Sept 2026

Shapoorji Pallonji Group's flagship EPC company building marine, transport, urban, hydro-tunnel and oil & gas infrastructure worldwide.

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Guidance Hit Rate

18 targets · 18% hit rate 2 achieved · 7 active →

Segment Shift

Sector & Mix Compare sector growth & peers →

Reverse DCF

Implied Growth Test priced-in growth in DCF tool →

Concall & Tone

Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹214.1 −2.28% · −₹5

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance −51.6% 1Y

1Y: ₹442.05 on 7 Nov 2025 → ₹214.1. High ₹442.05 (7 Nov 2025), low ₹206.04 (30 Oct 2026).

Previous close: ₹219.1
Market cap: ₹7.9k Cr
52-week range: ₹206.04 – ₹436.7
One year: −50.97%
Price to earnings (TTM to Sept 2026): 57.12×
Return on equity (TTM to Sept 2026): 2.54%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	-12.0 ₹ crore	−1300.0% YoY	Quarterly, as filed	Quarter to Sept 2026	Revenue from operations as filed.
Operating margin	3.5 %	−7.5 pts YoY	Operating profit / revenue	Quarter to Sept 2026	For the quarter; a change is in percentage points.
Net profit	41.0 ₹ crore	−61.0% YoY	Quarterly, as filed	Quarter to Sept 2026	Profit after tax as filed.
Return on equity	2.54 %	−5.4 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Sept 2026	Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin	-4.11 %	−0.4 ptsFY Mar 2026 vs FY Mar 2025	Fiscal year	FY ending Mar 2026	(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)	-14.82 %	+0.6 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Sept 2026	Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

2 of 11 judged targets kept · 7 open · verdicts reflect calls analysed to Q2 FY27.

Target	Original wording	Said	Latest call	Verdict
Operations EBITDA Margin	around 11% margin Call transcript, Q2 FY25 · 25 Nov 2024	Q2 FY25	Q2 FY27:Target period passed. Final verdict remains achieved. Call transcript, Q2 FY27 · 5 Nov 2026	Achieved
Growth Revenue Growth FY26	20% to 25% growth Call transcript, Q2 FY25 · 25 Nov 2024	Q2 FY25	Q2 FY27:Target period passed. Final verdict remains missed. Call transcript, Q2 FY27 · 5 Nov 2026	Missed
Operations Debt Reduction FY27	sizable drop Call transcript, Q4 FY26 · 19 May 2026	Q4 FY26	Q2 FY27:Net debt escalated sharply to INR 4,050 crores (gross debt INR 4,765 crores). Reaffirmed year-end net debt target of INR 2,750-2,800 crores exceeds FY26 closing base of INR 2,653 crores, continuing to contradict the commitment to a sizable drop. Call transcript, Q2 FY27 · 5 Nov 2026	At Risk

Source: Inve Guidance Tracker for Afcons Infrastructure Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

9 of Afcons Infrastructure Limited's 18 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 15 more targets are in the full ledger.

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See the full record

Sector context

Sector call context

Shared sector pressures matched to this company’s latest reporting period.

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Afcons Infrastructure Limited. Each comparison matches a headwind disclosed by Afcons Infrastructure Limited in the same calendar reporting quarter.

Geopolitical unrest in West Asia and energy shortages in Bangladesh are impacting input…

Topic: Supply chain disruption · Logistics supply chain · Q2 FY27

Afcons Infrastructure Limited reported: Geopolitical unrest in West Asia and energy shortages in Bangladesh are impacting input costs, shipping logistics, and execution schedules, prompting management to withhold annual growth guidance.

Reporting period ended 2026-09-30

2 other companies · Logistics supply chain

Sterling and Wilson Renewable Energy Limited (SWSOLAR) reported (period ended 2026-09-30): Battery prices rose in 2026, and the domestic supply chain is developing. Mismatch between BESS obligations and domestic production capacity has led to unrealistic bids and terminated orders.
PNC Infratech Limited (PNCINFRA) reported (period ended 2026-09-30): Extended price-adjustment escalation mechanisms provide only partial mitigation against sharp increases in fuel, bitumen, and logistics costs, exerting pressure on operating margins.

Evidence drawer

Evidence type: Summary paraphrase

Geopolitical unrest in West Asia and energy shortages in Bangladesh are impacting input costs, shipping logistics, and execution schedules, prompting management to withhold annual growth guidance.

Source company: Afcons Infrastructure Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 2

Similar commentary provides sector context; it does not establish a business relationship.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

AFCONS ₹214.1 −2.28%

Guidance Verdict (18 tracked) 2 kept · 7 open· 9 missed

AI Call Brief · Q2 FY27

Afcons Infrastructure Limited Q2 FY27

Overview

Symbol: NSE:AFCONS
Sector: Construction
Industry: Industrials
Exchange: NSE
Currency: INR

What Afcons Infrastructure Limited does

Based on the company's own presentations, annual report and earnings calls.

Afcons Infrastructure is an engineering, procurement and construction (EPC) contractor that designs and builds large, technically complex infrastructure projects such as ports and marine works, highways and metros, bridges and flyovers, dams, tunnels, and offshore oil & gas facilities. It earns revenue by executing fixed-scope construction contracts for government, multilateral and private-sector clients in India and overseas, owning a strategic fleet of heavy construction equipment (including tunnel boring machines, marine barges, jack-ups and cranes) that it deploys across projects rather than relying solely on subcontractors. The company operates across five business verticals and maintains an order book spanning both domestic and international markets, with in-house design, methods and technical-training capabilities supporting execution.

Segments

Marine & Industrial
Surface Transport
Urban Infrastructure
Hydro & Underground
Oil & Gas

Countries with presence/delivered projects: 31
Elevated & underground metro built: 150+ km
Lane km of roads built: 5,100+
Marine works executed: 235
Bridges, flyovers & viaducts built: 195+
Underground tunnel by NATM method: 65+ km

Founded 1959Headquarters Mumbai, India Company website

How the price took the results

Moved an average of ±2.2% across the last 5 priced result releases

Close before → close after

Quarter	Release	Revenue (₹ Cr)	Net profit (₹ Cr)	Rev YoY	Before → After	Reaction
Q2 FY27	5 Nov 26	-12	41	−1300.0%	₹211.11 → ₹219.44	+3.9%
Q1 FY27	10 Aug 26	-21	30	−400.0%	₹274.25 → ₹262.85	−4.2%
Q4 FY26	19 May 26	-19	-89	—	₹317.55 → ₹315.75	−0.6%
Q3 FY26	11 Feb 26	-7	97	−333.3%	₹345.65 → ₹342.1	−1.0%
Q2 FY26	17 Nov 25	1	105	—	₹407.65 → ₹402.8	−1.2%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

Guidance

What management said, and what became of it

2 of 11 judged targets kept · 7 open · verdicts reflect calls analysed to Q2 FY27.

Target	Original wording	Said	Latest call	Verdict
Operations EBITDA Margin	around 11% margin Call transcript, Q2 FY25 · 25 Nov 2024	Q2 FY25	Q2 FY27:Target period passed. Final verdict remains achieved. Call transcript, Q2 FY27 · 5 Nov 2026	Achieved
Growth Revenue Growth FY26	20% to 25% growth Call transcript, Q2 FY25 · 25 Nov 2024	Q2 FY25	Q2 FY27:Target period passed. Final verdict remains missed. Call transcript, Q2 FY27 · 5 Nov 2026	Missed
Operations Debt Reduction FY27	sizable drop Call transcript, Q4 FY26 · 19 May 2026	Q4 FY26	Q2 FY27:Net debt escalated sharply to INR 4,050 crores (gross debt INR 4,765 crores). Reaffirmed year-end net debt target of INR 2,750-2,800 crores exceeds FY26 closing base of INR 2,653 crores, continuing to contradict the commitment to a sizable drop. Call transcript, Q2 FY27 · 5 Nov 2026	At Risk

Source: Inve Guidance Tracker for Afcons Infrastructure Limited · to Q2 FY27

The full ledger

Open Afcons Infrastructure Limited’s full ledger

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Browse the register

Latest analysed call: Q2 FY27, 5 Nov 2026. 9 calls analysed.

Call summaries

Q2 FY27 — 5 Nov 2026

Afcons Infrastructure Limited Q2 FY27

Afcons Infrastructure reported a subdued Q2 FY27 marked by a 6.3% YoY top-line decline to ₹2,906 crores and net profit dropping to ₹41 crores, largely driven by extended payment cycles, monsoon seasonality, and heightened ECL provisions in overseas subsidiaries and arbitration assets. Working capital days remained stretched at 147 days, raising net debt to ₹4,050 crores. However, order inflow momentum remained robust with ₹19,437 crores booked year-to-date and an additional ₹4,200 crores in European L1 orders, keeping the company firmly on track to hit its ₹30,000 crore annual inflow target.

Read the full call

Q1 FY27 — 10 Aug 2026

Afcons Infrastructure Limited Q1 FY27

Afcons Infrastructure reported a challenging Q1 FY27 with a 20.3% YoY decline in total income to ₹2,727 crores and a 41% drop in EBITDA to ₹263 crores, resulting in a PAT of ₹30 crores. This was primarily due to continued execution challenges, adverse weather, and slow land handovers. Despite the subdued performance, the company secured healthy order inflows of ₹13,219 crores, maintaining a strong order book of ₹43,290 crores and reiterating its full-year order inflow guidance of ₹30,000 crores. Management anticipates a significant improvement in execution and profitability in the latter half

Read the full call

Q4 FY26 — 19 May 2026

Afcons Infrastr. Q4 FY26

Afcons Infrastructure reported a challenging Q4 and FY26, marked by a net loss of INR 89 crores in Q4—its first since 2010—and a 5.4% YoY revenue decline for FY26. The company cited geopolitical disruptions, supply chain issues, and delayed customer payments as primary reasons for underperformance and increased working capital. Despite these headwinds, Afcons maintains a healthy EBITDA margin of 11.7% for FY26 and projects a robust FY27 order booking guidance of INR 30,000 crores, with significant visibility, while acknowledging the need for debt reduction and improved profitability ratios.

Read the full call

Summaries of each call, in Inve’s own words; the transcript is not reproduced. Not investment advice.

Every analysed call

Afcons Infrastructure Limited earnings calls (AFCONS)

Fundamentals

Valuation, return & balance-sheet ratios

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).

Trailing twelve months
9.32% TTM to Sept 2026
Fiscal year
13.92% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
19.41% 20.17% 23.43% 23.13% 19.58% 13.92%

How it is calculated. Adjusted EBIT ÷ average capital employed, including minority equity and deposits.
Trailing twelve months
2.54% TTM to Sept 2026
Fiscal year
5.62% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
9.21% 17.23% 17.08% 14.49% 11.06% 5.62%

How it is calculated. Adjusted profit attributable to owners ÷ average owners’ equity.
Trailing twelve months
0.72% TTM to Sept 2026
Fiscal year
1.66% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.37% 2.85% 3.12% 3.00% 2.94% 1.66%

How it is calculated. Total profit excluding exceptional items after tax ÷ average total assets.
Trailing twelve months
7.31% TTM to Sept 2026
Fiscal year
10.39% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
9.28% 8.56% 10.55% 10.38% 10.85% 10.39%

How it is calculated. Operating profit ÷ revenue.
Trailing twelve months
1.28% TTM to Sept 2026
Fiscal year
2.51% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.87% 3.29% 3.37% 3.45% 3.91% 2.51%

How it is calculated. Total profit excluding exceptional items after tax ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4.70% 2.34% 2.41% 0.19% -3.75% -4.11%

How it is calculated. (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— 170.39% 295.62% 157.11% -27.10% -50.60%

How it is calculated. Operating cash flow ÷ reported total net profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5.26% 3.24% 7.27% 5.40% 2.74% 3.11%

How it is calculated. Fixed-asset purchases ÷ revenue.
Trailing twelve months
-14.82% TTM to Sept 2026
Fiscal year
-4.78% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-5.62% 17.52% 14.68% 4.99% -5.43% -4.78%

How it is calculated. Revenue change against the same period one year earlier.
Trailing twelve months
-72.31% TTM to Sept 2026
Fiscal year
-38.57% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-32.04% 110.56% 17.68% 7.51% 6.99% -38.57%

How it is calculated. Adjusted profit attributable to owners vs the same period one year earlier.
Trailing twelve months
-44.02% TTM to Sept 2026
Fiscal year
-8.82% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5.97% 8.39% 41.36% 3.30% -1.16% -8.82%

How it is calculated. Operating profit vs the same period one year earlier.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.06× 0.92× 0.76× 0.70× 0.45× 0.67×

How it is calculated. Borrowings ÷ owners’ equity.
Trailing twelve months
1.38× TTM to Sept 2026
Fiscal year
1.72× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.64× 1.97× 2.39× 2.19× 2.14× 1.72×

How it is calculated. Adjusted EBIT ÷ interest expense.
Trailing twelve months
0.56× TTM to Sept 2026
Fiscal year
0.66× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.73× 0.87× 0.93× 0.87× 0.75× 0.66×

How it is calculated. Revenue ÷ average total assets.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
₹1,355.00 Cr ₹1,547.00 Cr ₹1,685.00 Cr ₹1,857.00 Cr ₹1,572.00 Cr ₹2,741.00 Cr

How it is calculated. Borrowings less cash equivalents.
Trailing twelve months
3.09× TTM to Sept 2026
Fiscal year
1.70× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.33× 1.30× 1.09× 1.06× 0.86× 1.70×

How it is calculated. (Borrowings − cash equivalents) ÷ adjusted EBITDA.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6.59× 5.63× 5.00× 4.25× 3.17× 3.33×

How it is calculated. Average total assets ÷ closing owners’ equity.
Trailing twelve months
57.12× TTM to Sept 2026
Fiscal year
26.38× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Current market cap ÷ adjusted profit attributable to owners for the selected income period. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market cap ÷ owners’ equity from the balance sheet selected for the TTM inputs. Uses current market cap, not the share price at the period end.
Trailing twelve months
9.03× TTM to Sept 2026
Fiscal year
6.61× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. (Market cap + borrowings + deposits − cash equivalents) ÷ adjusted EBITDA. Uses current market cap, not the share price at the period end.
Trailing twelve months
7.96% TTM to Sept 2026
Fiscal year
10.87% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Adjusted EBIT ÷ enterprise value. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
100.00 days 76.00 days 63.00 days 86.00 days 81.00 days 105.00 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
135.00 days 146.00 days 150.00 days 148.00 days 112.00 days 130.00 days

How it is calculated. Reported inventory days, using material cost / cost of goods sold.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
427.00 days 310.00 days 332.00 days 393.00 days 393.00 days 519.00 days

How it is calculated. Reported payable days, using material cost / cost of goods sold.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-192.00 days -88.00 days -119.00 days -160.00 days -200.00 days -283.00 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-1.00 days 2.00 days 10.00 days 12.00 days 65.00 days 63.00 days

How it is calculated. Reported net working capital days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
15.00% 7.00% 7.00% 19.00% 19.00% 29.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
19.41%	20.17%	23.43%	23.13%	19.58%	13.92%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
9.21%	17.23%	17.08%	14.49%	11.06%	5.62%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.37%	2.85%	3.12%	3.00%	2.94%	1.66%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
9.28%	8.56%	10.55%	10.38%	10.85%	10.39%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.87%	3.29%	3.37%	3.45%	3.91%	2.51%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
4.70%	2.34%	2.41%	0.19%	-3.75%	-4.11%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	170.39%	295.62%	157.11%	-27.10%	-50.60%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
5.26%	3.24%	7.27%	5.40%	2.74%	3.11%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-5.62%	17.52%	14.68%	4.99%	-5.43%	-4.78%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-32.04%	110.56%	17.68%	7.51%	6.99%	-38.57%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
5.97%	8.39%	41.36%	3.30%	-1.16%	-8.82%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.06×	0.92×	0.76×	0.70×	0.45×	0.67×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.64×	1.97×	2.39×	2.19×	2.14×	1.72×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.73×	0.87×	0.93×	0.87×	0.75×	0.66×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
₹1,355.00 Cr	₹1,547.00 Cr	₹1,685.00 Cr	₹1,857.00 Cr	₹1,572.00 Cr	₹2,741.00 Cr

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.33×	1.30×	1.09×	1.06×	0.86×	1.70×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
6.59×	5.63×	5.00×	4.25×	3.17×	3.33×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
100.00 days	76.00 days	63.00 days	86.00 days	81.00 days	105.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
135.00 days	146.00 days	150.00 days	148.00 days	112.00 days	130.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
427.00 days	310.00 days	332.00 days	393.00 days	393.00 days	519.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-192.00 days	-88.00 days	-119.00 days	-160.00 days	-200.00 days	-283.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-1.00 days	2.00 days	10.00 days	12.00 days	65.00 days	63.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
15.00%	7.00%	7.00%	19.00%	19.00%	29.00%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

Quarterly & annual financial statements

Net profit, year on year: −61% (quarter to sept 2026 against sept 2025).

Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026	Sept 2026
3	-11	7	1	-7	-19	-21	-12
2,847	2,930	2,935	2,660	2,565	2,571	2,420	2,544
364	294	435	329	410	43	251	92
11.0%	9.0%	13.0%	11.0%	14.0%	1.6%	9.0%	3.5%
121	164	49	113	-27	163	56	271
169	150	162	170	167	175	173	182
117	124	139	122	93	100	84	98
200	184	183	149	123	-69	51	82
26.0%	40.0%	25.0%	30.0%	21.0%	29.0%	40.0%	50.0%
149	111	137	105	97	-89	30	41
4.05	3.02	3.74	2.87	2.64	-2.40	0.83	1.12

Source: Inve data · income statement, quarterly · to Sept 2026

Mar 2024	Mar 2025	Mar 2026
13,267	-20	-18
11,902	11,193	10,731
1,365	1,355	1,217
379	474	298
578	630	674
495	491	454
673	710	386
450	487	250

Source: Inve data · income statement, annual · to Mar 2026

Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026	Sept 2026
72	341	368	368	368	368
2,654	3,255	4,893	5,021	5,082	5,097
2,062	2,523	2,343	3,565	3,627	4,847
9,513	10,114	9,515	8,979	10,054	9,108
14,301	16,234	17,119	17,934	19,131	19,420
2,498	2,784	2,738	2,597	2,499	3,244
184	43	33	42	901	137
0	1	1	1	1	1
11,619	13,406	14,348	15,294	15,730	16,039
14,301	16,234	17,119	17,934	19,131	19,420

Source: Inve data · balance sheet · to Sept 2026

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
929	610	1,215	707	-132	-127
-275	-255	-861	-859	-131	-400
-564	-521	-483	246	290	473
90	-165	-128	94	27	-54
441	259	306	25	-470	-491

Source: Inve data · cash flow · to Mar 2026

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
100	76	63	86	81	105
135	146	150	148	112	130
427	310	332	393	393	519
-192	-88	-119	-160	-200	-283
-1	2	10	12	65	63
19.0%	20.0%	23.0%	23.0%	20.0%	14.0%
15.0%	7.0%	7.0%	19.0%	19.0%	29.0%

Source: Inve data · annual ratios · to Mar 2026

Ownership

Who owns it — shareholding pattern

Promoters hold 50.17% as of Sept 2026; institutions cut 3.30 pts since Jun 2026.

Promoters 0.00 pts 50.17%
Foreign institutions −1.23 pts 10.92%
Domestic institutions −2.07 pts 18.00%
Public +3.29 pts 20.91%

2,41,593 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who bought this quarter

since Jun 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Mutual fund newly disclosed 2.58% held
FPI fund newly disclosed 1.11% held

The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Sep 2026 filing

Every holder of Afcons Infrastructure Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	25.03%	unchanged
	15.41%	unchanged
	7.52%	unchanged
Mutual fund	4.83%	unchanged
FPI fund	4.44%	unchanged
Mutual fund	3.36%	unchanged
Mutual fund	3.00%	−0.16 pp
Mutual fund	2.58%	newly disclosed
	2.35%	unchanged
Global fund house	1.46%	unchanged
VC / PE	1.33%	−0.31 pp
FPI fund	1.11%	newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in AFCONS

Filings to Sep 2026

0 new, 1 added, 4 trimmed, 1 sold out — net −24.77 L shares (−8.2%).

Held by funds: ₹685 Cr; 14 schemes
Biggest holder: SBI Smallcap Fund; ₹395 Cr · 1.0% of that fund

Scheme	Holding	Last month	Held since
SBI Smallcap Fund SBI Mutual Fund	₹395 Cr	held	Apr '25
Nippon India Small Cap Fund Nippon India Mutual Fund	₹166 Cr	held	Oct '24
Nippon India Power & Infra Fund Nippon India Mutual Fund	₹57 Cr	held	Oct '24
SBI Multi Asset Allocation Fund SBI Mutual Fund	₹20 Cr	held	Nov '25
SBI Conservative Hybrid Fund SBI Mutual Fund	₹19 Cr	held	Oct '25
HDFC Dividend Yield Fund HDFC Mutual Fund	₹6 Cr	held	Oct '24
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund	₹6 Cr	−0.07 L	Mar '25
Nippon India Retirement Fund - Wealth Creation Scheme Nippon India Mutual Fund	₹6 Cr	held	Jul '25

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Sep 2026

1 added, 4 trimmed — net −24.77 L shares (−8.2%)

Funds are sitting on: -49%; vs est. average cost
Held by funds: ₹685 Cr; 14 schemes · ≈ 7.5% of the company
Biggest holder: SBI Smallcap Fund; ₹395 Cr · 1.0% of that fund
Longest holder: Nippon India Small Cap Fund; 2y · since Oct '24

Shares held by these funds +651%

Oct '24 2.76 cr shares Sep '26

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Quick Answers

Frequently asked questions on Afcons Infrastructure Limited

Compiled directly from AFCONS's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Afcons Infrastructure Limited (AFCONS) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Afcons Infrastructure Limited reported revenue of ₹-12 Cr, net profit of ₹41 Cr, an operating margin of 3.5%. Diluted earnings per share stood at ₹1.12.

How is Afcons Infrastructure Limited (AFCONS) valued today, and what growth does the stock price imply?

Afcons Infrastructure Limited (AFCONS) trades at ₹214.1, with a market capitalization of ₹7.9k Cr.

Who owns Afcons Infrastructure Limited (AFCONS) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 50.2%, FIIs hold 10.9%, DIIs hold 18.0%, Public shareholders hold 20.9%.

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