Ganesh Infra.

Kolkata-based EPC subcontractor executing civil & electrical infrastructure, road/rail, water infrastructure, mining-development and bulk-logistics projects across India

Construction

Industrials

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Price

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Market Cap

₹417 Cr

Sector

Construction

Industrials

Rank

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Performance

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Promise Tracker Concall Analysis

Income Statement

Financial Trajectories

Quarterly

Balance Sheet

₹ Cr · Annual

Line item	FY24	FY25	FY26	FY26
LiabilitiesEquity Capital	11	21	21	21
Reserves	24	158	191	229
Borrowings	31	38	75	134
Other Liabilities	28	47	82	159
Total Liabilities	94	265	369	543
AssetsFixed Assets	9	20	20	78
CWIP	0	0	0	0
Investments	19	36	65	136
Other Assets	66	209	284	328
Total Assets	94	265	369	543

Cash Flow

₹ Cr · Annual

Line item	FY24	FY25	FY26
ActivitiesCash from Operating	-28	-80	-41
Cash from Investing	-28	-25	-47
Cash from Financing	62	109	86
SummaryCapital Expenditure	—	—	—
Free Cash Flow	-38	-92	-43
FCF Margin	—	—	—

Too capital-hungry for an earnings DCF

For capital-heavy businesses (telecom, power, heavy manufacturing) reported profit ignores the cash needed just to stand still. We'd systematically overvalue it, so we don't show a number.

GANESHIN · CAPITAL_INTENSIVE

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About Ganesh Infra.

Ganesh Infraworld is an engineering, procurement and construction (EPC) subcontractor to large infrastructure and industrial players, delivering end-to-end project execution from design to commissioning. It builds power transmission and distribution assets (substations, gas-insulated switchgear, transmission lines, rural electrification) and executes railway track-laying, OHE electrification and road works, water infrastructure (treatment plants, pumping stations and pipeline networks), and mining-development operations (overburden removal, drilling & blasting, material handling using heavy earth-moving machinery) for public-sector and private clients. Following its 2026 acquisition of a 60% stake in Kandoi Transport Limited, it also runs a captive heavy-vehicle fleet providing first-mile to last-mile bulk logistics for minerals and industrial materials.

Business segments

Civil and Electrical InfrastructureCivic UtilitiesWater InfrastructureMining Development OperationsTransportation

Key products & brands: EHV substations (up to 400 kV), Gas Insulated Switchgear (GIS, up to 220 kV), Transmission lines and towers, Rural electrification (transformers, LT/HT cabling, metering), Railway track laying, OHE and signaling electrification, Water treatment plants, Pumping stations, Bulk & distribution pipelines (MS, DI, HDPE, PVC, GRP, RCC), Mining services (overburden removal, drilling & blasting, material handling), Bulk logistics / heavy-vehicle transportation fleet

Key data

Engineers

States of presence

Completed projects

Ongoing projects

Business verticals

5 (Civil & Electrical Infrastructure, Civic Utilities, Water Infrastructure, Mining Development Operations, Transportation)

Largest mining excavation contract

17,55,50,000 BCM overburden excavation, 60-month tenure (Northern Coalfields Ltd, Nigahi Mines, Madhya Pradesh, awarded 2023)

Pipeline handling capability

Cross-country pipelines up to 4,000 mm diameter

Power transmission capability

EHV substations up to 400 kV; GIS up to 220 kV; HVDC up to +800 kV / 6000 MW

Underground cabling milestone

100+ km executed using HDD method

Founded

2017

Headquarters

Kolkata, West Bengal, India

ganeshinfra.com

Ganesh Infra.

Overview

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₹417 Cr

Construction

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Performance

Explore GANESHIN

Financials

Income Statement

Financial Trajectories

Balance Sheet

Balance Sheet

Cash Flow

Cash Flow

Valuation

Too capital-hungry for an earnings DCF

Learn to analyse Ganesh Infra.