RAMKY
Ramky Infra share price & financials
- Price
- ₹427.25
- Market cap
- ₹2.3k Cr
- Sector
- Construction
- Calls analysed
- 1
Ramky Infra Q2 FY26
Q2 Revenue ₹444 cr; Current Order Book ₹9,200 cr; Q2 EBITDA (incl. other income) ₹140 cr. Q2 FY26 revenue stood at INR 444 crore.
Read the full call →What Ramky Infra does
Ramky Infrastructure builds and operates infrastructure and environmental projects across India, spanning water and wastewater treatment, industrial parks and SEZs, roads/highways/bridges/tunnels, power transmission, and residential/commercial buildings and data centers. It earns through multiple contracting and ownership models — straight EPC, hybrid-annuity (HAM), BOT, DBFOT and long-term O&M/annuity concessions — rather than construction alone. Beyond contract execution, the company develops and holds large industrial-park assets itself, including a pharma-focused park in Visakhapatnam and a life-sciences park at Dighi Port, Maharashtra, and runs an international arm executing water, roads and building projects overseas.
Segments
- Industrial
- Urban Solutions
- Project delivery models
- EPC, HAM, BOT, DBFOT, BTS and O&M
- Geographic footprint
- Pan-India presence plus international operations (Middle East & Africa) via subsidiary
- Operating track record
- 30+ years of infrastructure and environmental project execution (incorporated 1994)
- Largest wastewater treatment plant built
- 320 MLD facility for HMWSSB, Hyderabad (SBR technology)
- Industrial park under development
- 1,000-hectare Life Sciences City / pharma park, Dighi Port, Maharashtra (95-year concession)
- Pharma industrial park developed
- Jawaharlal Nehru Pharmacity, Visakhapatnam
Guidance record · Q2 FY26
what the last two calls moved 9 tracked 0 delivered 0 missed 9 open- FY26 Revenue open said Q2 FY26 Promised: INR 2,400 crore Q2 FY26: As we said that the year, we would be closing close to the INR 2,400 crore for the current year.
All 9 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 24.3%, net profit down 49.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 527 | 459 | 489 | 379 | 472 −10% | 489 +7% | 507 +4% | 471 +24% |
| EBITDA | 129 | 90 | 2 | 76 | 83 −36% | 76 −16% | -4 −300% | 29 −62% |
| Net profit | 83 | 60 | -12 | 77 | 76 −8% | 78 +30% | 52 +533% | 39 −49% |
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 −41.6% 1Y
1Y: ₹568.55 on 10 Sept 2025 → ₹332.1. High ₹649.5 (24 Oct 2025), low ₹332.1 (11 Sept 2026).
How the price took the results
close before → close after
- Q2 FY26
- +0.8%
- 19 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.
Financials, as filed
Revenue grew 2.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 12.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.7k Cr | ₹2.2k Cr | ₹2.0k Cr | ₹1.8k Cr |
| Operating profit | ₹339 Cr | ₹511 Cr | ₹337 Cr | ₹231 Cr |
| Operating margin | 19.9% | 23.6% | 16.5% | 12.5% |
| Interest | ₹362 Cr | ₹159 Cr | ₹120 Cr | ₹74 Cr |
| Depreciation | ₹42 Cr | ₹48 Cr | ₹51 Cr | ₹58 Cr |
| Net profit | ₹1.2k Cr | ₹322 Cr | ₹202 Cr | ₹283 Cr |
| Net margin | 67.6% | 14.9% | 9.9% | 15.3% |
| Cash from operations | ₹2.6k Cr | ₹370 Cr | ₹373 Cr | ₹-262 Cr |
| Free cash flow | ₹2.5k Cr | ₹262 Cr | ₹229 Cr | ₹3 Cr |
| ROCE | 16.0% | 21.0% | 17.0% | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹69 Cr | ₹69 Cr | ₹69 Cr | ₹69 Cr | ₹69 Cr | ₹69 Cr |
| Reserves | ₹271 Cr | ₹207 Cr | ₹1.3k Cr | ₹1.6k Cr | ₹2.0k Cr | ₹2.1k Cr |
| Borrowings | ₹2.3k Cr | ₹2.1k Cr | ₹1.6k Cr | ₹834 Cr | ₹613 Cr | ₹591 Cr |
| Other liabilities | ₹1.7k Cr | ₹2.2k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.8k Cr | ₹1.4k Cr |
| Total liabilities | ₹4.4k Cr | ₹4.6k Cr | ₹4.6k Cr | ₹4.3k Cr | ₹4.4k Cr | ₹4.1k Cr |
| Fixed assets | ₹202 Cr | ₹265 Cr | ₹329 Cr | ₹217 Cr | ₹199 Cr | ₹186 Cr |
| Capital work in progress | ₹28 Cr | ₹28 Cr | ₹61 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Investments | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹4.1k Cr | ₹4.3k Cr | ₹4.2k Cr | ₹4.0k Cr | ₹4.2k Cr | ₹3.9k Cr |
| Total assets | ₹4.4k Cr | ₹4.6k Cr | ₹4.6k Cr | ₹4.3k Cr | ₹4.4k Cr | ₹4.1k 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 Jun 2026
Since Jun 2025, the public trimmed −0.64 pp while FIIs added +0.44 pp.
- Promoters
- 69.8%
- FIIs
- 1.9%
- DIIs
- 0.9%
- Public
- 27.4%
Since Jun 2025
- Public −0.64 pp
- FIIs +0.44 pp
- DIIs +0.21 pp
How it drifted, 12 quarters
Over this window the public fell from 29.2% to 27.4% — −1.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 69.8%, FIIs 0.6%, DIIs 0.4%, Public 29.2%.Dec '23: Promoters 69.8%, FIIs 0.6%, DIIs 0.4%, Public 29.2%.Mar '24: Promoters 69.8%, FIIs 0.6%, DIIs 0.5%, Public 29.1%.Jun '24: Promoters 69.8%, FIIs 0.3%, DIIs 0.5%, Public 29.4%.Sep '24: Promoters 69.8%, FIIs 0.5%, DIIs 0.7%, Public 29.1%.Dec '24: Promoters 69.8%, FIIs 0.7%, DIIs 0.5%, Public 28.9%.Mar '25: Promoters 69.8%, FIIs 1.2%, DIIs 0.6%, Public 28.4%.Jun '25: Promoters 69.8%, FIIs 1.5%, DIIs 0.7%, Public 28.0%.Sep '25: Promoters 69.8%, FIIs 1.3%, DIIs 0.8%, Public 28.1%.Dec '25: Promoters 69.8%, FIIs 1.2%, DIIs 0.8%, Public 28.2%.Mar '26: Promoters 69.8%, FIIs 1.9%, DIIs 0.9%, Public 27.4%.Jun '26: Promoters 69.8%, FIIs 1.9%, DIIs 0.9%, Public 27.4%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ramky Infra above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sharan Alla | 31.95% | unchanged |
| Alla Ayodhya Rami Reddy | 17.94% | unchanged |
| Alla Dakshayani | 9.94% | unchanged |
| Ardha Holding Private Limited | 4.82% | unchanged |
| Yancharla Rathnakara Nagaraja | 2.42% | unchanged |
| Numen Growth Partners Private Limited | 2.41% | unchanged |
| Aadi Financial Advisors Llp | 2.41% | unchanged |
| Rudraveerya Developers Limited | 1.53% | unchanged |
| A Ishaan | 0.26% | unchanged |
| Modugula Venugopala Reddy | 0.03% | unchanged |
| Alla Ramakrishna Reddy | 0.02% | unchanged |
| Y R Nagakrishna | 0.02% | 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.
Learn to analyse Ramky Infra
Guides on how to read this kind of business and the numbers that matter.