AVPINFRA
AVP Infracon financials
- Market cap
- ₹150 Cr
- Sector
- Construction
- Calls analysed
- 3
AVP Infracon Q4 FY26
What went well
- Achieved turnover of approximately ₹440 crores for FY26, with ₹80 crores of unbilled revenue.
- Targeting a revenue of ₹700 crores for FY27, indicating strong growth ambition.
- Current unexecuted order book is around ₹500 crores, providing future revenue visibility.
What to watch
- PAT and EBITDA margins compressed by 1-2% in FY26 due to geopolitical war, bitumen price hikes (50-60%), and increased finance costs.
- Unbilled revenue of ₹80 crores could not be recognized as sales, impacting PAT margin.
What AVP Infracon does
AVP Infracon is an EPC (Engineering, Procurement and Construction) company that builds roads, national/state highways, bridges and flyovers, mainly for government clients such as NHAI, state PWDs and other public agencies in Tamil Nadu. It has backward-integrated its supply chain with company-owned Ready Mix Concrete (RMC) plants and, more recently, a Blue Metal (crusher) unit for aggregates, alongside an in-house construction equipment fleet. In FY25 it diversified into solar EPC and industrial civil works such as cold storage and warehouse construction.
Segments
- Roads, highways, bridges & flyovers (EPC)
- Ready Mix Concrete (RMC)
- Blue Metal / crusher unit
- Solar EPC
- Industrial civil works
- Construction equipment fleet
- 124 units (prime movers, tippers, transit mixers, pavers, batching plants, excavators, etc.)
- RMC plants
- 3 (Tirupur, Coimbatore, Dharapuram)
- Blue metal / crusher units
- 1
- Districts/locations served in Tamil Nadu
- 14
- Years in service
- 15+
- Solar EPC capacity executed
- 2.08 MWp (first project)
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 0 delivered 6 missed 8 open- Standalone Revenue missed said Q4 FY25 Promised: ₹500+ crores for FY26 Q4 FY26: Achieved standalone turnover of ₹440 crores against a target of ₹500+ crores. Management cited ₹80 crores in unbilled revenue, but reported sales missed the target.
- Revenue Target FY27 revised down said Q4 FY25 Promised: ₹750-800 crores Q4 FY26: Management is now 'sticking to our guidance of INR700 crores' for FY27, narrowing the previous ₹700-750 cr range to the lower end.
- PAT Margin open said Q4 FY26 Promised: Maintain minimum 9-10% Q4 FY26: Management guided for a sustainable PAT margin of 9-10% going forward, stating '10% would be achievable'.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 159.1%, net profit up 72.7% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 63 | 88 | 96 | 177 | 193 +206% | 228 +159% |
| EBITDA | 13 | 19 | 22 | 33 | 42 +223% | 35 +84% |
| Net profit | 7 | 11 | 13 | 20 | 23 +229% | 19 +73% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −66.5% 1Y
1Y: ₹175.45 on 10 Sept 2025 → ₹58.8. High ₹184 (22 Sept 2025), low ₹55.25 (15 Jul 2026).
How the price took the results
close before → close after
- Q4 FY26
- +4.0%
- 23 May
- Q2 FY26
- −1.8%
- 14 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹5 Cr | ₹5 Cr | ₹25 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹6 Cr | ₹9 Cr | ₹20 Cr | ₹68 Cr | ₹134 Cr | ₹153 Cr |
| Borrowings | ₹27 Cr | ₹32 Cr | ₹55 Cr | ₹59 Cr | ₹181 Cr | ₹206 Cr |
| Other liabilities | ₹17 Cr | ₹17 Cr | ₹40 Cr | ₹52 Cr | ₹63 Cr | ₹70 Cr |
| Total liabilities | ₹51 Cr | ₹62 Cr | ₹119 Cr | ₹205 Cr | ₹403 Cr | ₹454 Cr |
| Fixed assets | ₹13 Cr | ₹15 Cr | ₹19 Cr | ₹22 Cr | ₹56 Cr | ₹77 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹12 Cr | ₹14 Cr |
| Other assets | ₹38 Cr | ₹47 Cr | ₹100 Cr | ₹178 Cr | ₹336 Cr | ₹363 Cr |
| Total assets | ₹51 Cr | ₹62 Cr | ₹119 Cr | ₹205 Cr | ₹403 Cr | ₹454 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, DIIs added +0.18 pp while the public trimmed −0.15 pp. The shareholder count grew 19% to 3,133.
- Promoters
- 62.4%
- DIIs
- 0.2%
- Public
- 37.4%
Since Mar 2025
- DIIs +0.18 pp
- Public −0.15 pp
- FIIs −0.03 pp
How it drifted, 5 quarters
Over this window the public went from 28.4% to 37.4% — +8.9 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 62.3%, FIIs 4.9%, DIIs 4.3%, Public 28.4%.Sep '24: Promoters 62.3%, FIIs 0.2%, DIIs 0.0%, Public 37.5%.Mar '25: Promoters 62.4%, FIIs 0.0%, DIIs 0.0%, Public 37.5%.Sep '25: Promoters 62.4%, DIIs 0.1%, Public 37.5%.Mar '26: Promoters 62.4%, DIIs 0.2%, Public 37.4%.
Who is on the register
Named in the Mar 2026 filing
Every holder of AVP Infracon above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Dhandayuthapani Prasanna | 33.56% | unchanged |
| B Venkateshwaralu | 22.82% | unchanged |
| Aparna Samir Thakker | 3.95% | unchanged |
| Chokkarapu Vasumathi | 2.11% | unchanged |
| Gowri Manohari D | 1.67% | unchanged |
| Vasanth D | 1.50% | unchanged |
| D Bhagyavathy | 0.75% | unchanged |
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.
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse AVP Infracon
Guides on how to read this kind of business and the numbers that matter.