GHV Infra Projects share price & results
- Sept 2026
- Sept 2026
EPC/turnkey contractor building roads, rail, water, energy and industrial projects in India and the UAE.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 300 | +63.0% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 12.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 17.0 | +54.5% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 27.67 | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. | |
| Free cash flow margin | -10.89 | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. | |
| Revenue growth (YoY) | Trailing twelve months | TTM to Sept 2026 | Not in the analysed materials. No older figure is substituted. |
Price
Performance −26.8% 1Y
1Y: ₹319.7 on 24 Oct 2025 → ₹234. High ₹351.4 (19 Feb 2026), low ₹182.4 (7 Jul 2026).
- Previous close
- ₹230.8
- Market cap
- ₹1.6k Cr
- 52-week range
- ₹182.4 – ₹351.4
- One year
- −25.35%
- Price to earnings (TTM to Sept 2026)
- 27.26×
- Return on equity (TTM to Sept 2026)
- 27.67%
Overview
- Symbol
- NSE:GHVINFRA
- Sector
- Construction
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What GHV INFRA PROJECTS LIMITED does
Based on the company's own presentations, annual report and earnings calls.
GHV Infra Projects (formerly Sindu Valley Technologies Limited, a company on record since 1976) is an EPC/turnkey construction contractor that took on its present infrastructure business after a November 2024 change of control brought in the GHV Group's promoters and the company's object clause was widened into construction and development activities. It earns contract revenue by designing, procuring, constructing, testing and commissioning projects such as national highways, railway workshops, irrigation dams, solar power plants, flue-gas-desulfurisation systems for thermal plants, coastal roads and industrial/institutional buildings, working for government agencies (e.g. NHAI/Bharatmala, South Eastern Railway) and private industrial clients. It has also taken its first overseas EPC mandate, for an industrial and commercial manufacturing hub in Ras Al Khaimah, UAE.
Segments
- Infrastructure
- Industrial
- Building
- Ongoing / in-hand projects
- 11
- Project locations (India)
- Gujarat, Maharashtra, Karnataka, Madhya Pradesh and Jharkhand, plus Mumbai city works
- International presence
- EPC contract under execution in Ras Al Khaimah Economic Zone, UAE
- Business verticals
- 3 - Infrastructure, Industrial and Building EPC
- Flagship delivered project
- Dahod (Gujarat) factory for manufacturing 9000 HP electric locomotives, inaugurated by the Prime Minister
- Group heritage
- Part of the GHV Group, founded 1965 in Ahmedabad
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2025 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +55% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 18 | 165 | 80 | 184 | 138 | 214 | 219 | 300 |
| Expenses | 15 | 145 | 72 | 162 | 110 | 174 | 194 | 265 |
| Operating profit | 4 | 20 | 8 | 22 | 28 | 39 | 24 | 35 |
| Operating margin | 20.0% | 12.0% | 10.0% | 12.0% | 20.0% | 18.0% | 11.0% | 12.0% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 1 | 2 | 6 | 9 | 14 | 12 | 13 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 19 | 6 | 16 | 18 | 24 | 12 | 21 |
| Tax rate | 25.0% | 27.0% | 25.0% | 29.0% | 16.0% | 27.0% | 36.0% | 18.0% |
| Net profit | 3 | 14 | 5 | 11 | 15 | 18 | 7 | 17 |
| EPS (₹ per share) | 0.41 | 1.94 | 0.66 | 1.56 | 2.02 | 2.52 | 1.02 | 2.16 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 0 | 0 | 184 | 616 |
| Expenses | 0 | 0 | 161 | 518 |
| Operating profit | -0 | 0 | 24 | 97 |
| Other income | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 1 | 31 |
| Depreciation | 0 | 0 | 0 | 2 |
| Profit before tax | -0 | 0 | 23 | 64 |
| Net profit | -0 | 0 | 17 | 49 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 14 | 36 | 36 | 40 |
| Reserves | -1 | -2 | 28 | 61 | 95 | 166 |
| Borrowings | 0 | 0 | 31 | 236 | 192 | 412 |
| Other liabilities | 0 | 1 | 148 | 179 | 270 | 354 |
| Total liabilities | 0 | 0 | 221 | 512 | 593 | 972 |
| Fixed assets | 0 | 0 | 1 | 1 | 4 | 16 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 0 | 0 | 221 | 510 | 589 | 956 |
| Total assets | 0 | 0 | 221 | 512 | 593 | 972 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 0 | 0 | 0 | 0 | -56 | -64 |
| Cash from investing | 0 | 0 | 0 | 0 | -1 | -104 |
| Cash from financing | 0 | 0 | 0 | 0 | 56 | 177 |
| Net cash flow | 0 | 0 | 0 | 0 | 0 | 9 |
| Free cash flow | 0 | 0 | 0 | 0 | -56 | -67 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | — | — | — | — | — | 75 |
| Cash conversion cycle | — | — | — | — | — | 75 |
| Working capital days | — | — | — | — | — | 75 |
| Return on capital employed | −240.0% | — | — | — | — | — |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 63.25% as of Sept 2026.
- Promoters 63.25%
- Public 36.76%
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.
- +4.27 pp 63.05% held
- newly disclosed 1.55% held
- newly disclosed 0.20% held
The same filing shows 9 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of GHV INFRA PROJECTS LIMITED above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 63.05% | +4.27 pp | |
| 8.96% | −1.04 pp | |
| 4.66% | −0.54 pp | |
| 1.87% | −0.21 pp | |
| 1.87% | −0.21 pp | |
| 1.55% | −0.18 pp | |
| 1.55% | −0.18 pp | |
| 1.55% | −0.18 pp | |
| 1.55% | newly disclosed | |
| 1.16% | −0.19 pp | |
| 1.04% | −0.51 pp | |
| 0.20% | 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.
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