A2ZINFRA
A2Z Infra Engineering Limited
Integrated facilities management and waste management services provider
Services›Services›Commercial Services & Supplies›Diversified Commercial Services
a2zgroup.co.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹13.77
Market cap
244 Cr
Stock P/E
66.7
P/B
7.57
ROE (FY26)
13.7%
ROCE (FY26)
11.7%
Operating margin (FY26)
1.0%
Debt / equity (FY26)
2.99
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
A2Z Infra Engineering is an Indian contractor that runs several business segments, including a turnkey rural power-distribution contract in Tanzania, and is working through settlements with its lenders.
Company snapshot
29thBy market cap
Ranked among 36 companies in Diversified Commercial Services.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 67.8% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Segment – ES | 11.2% | 9 Cr | 0.71 Cr | 296 Cr |
| Segment – FMS | 67.8% | 57 Cr | 1 Cr | 89 Cr |
| Segment – MSW | 21.0% | 18 Cr | -2 Cr | 93 Cr |
| Segment – Others | — | 0 Cr | 0.29 Cr | 46 Cr |
What we see
Concerns
- ✗Net margin is very thin at 1.4% — little room for error if costs rise.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 102 Cr | 94 Cr | 98 Cr | 83 Cr | 78 Cr | 85 Cr | 91 Cr | 91 Cr | 95 Cr | 109 Cr | 92 Cr | 68 Cr |
| Operating expenses (approx.) | 104 Cr | 112 Cr | 136 Cr | 79 Cr | 80 Cr | 87 Cr | 82 Cr | 84 Cr | 89 Cr | 109 Cr | 95 Cr | 68 Cr |
| EBITDA | -2 Cr | -18 Cr | -38 Cr | 4 Cr | -1 Cr | -3 Cr | 9 Cr | 7 Cr | 6 Cr | -0.48 Cr | -3 Cr | 0.61 Cr |
| OPM % | -1.8% | -18.9% | -38.5% | 4.5% | -1.7% | -3.4% | 10.0% | 7.5% | 5.9% | -0.4% | -3.4% | 0.9% |
| Other income | 7 Cr | 0.64 Cr | 28 Cr | 3 Cr | 2 Cr | 5 Cr | 12 Cr | 0.57 Cr | 0.46 Cr | 7 Cr | 8 Cr | 3 Cr |
| Interest | 2 Cr | 0.72 Cr | 1 Cr | 2 Cr | 2 Cr | 2 Cr | 2 Cr | 1 Cr | 2 Cr | 2 Cr | 2 Cr | 2 Cr |
| Depreciation | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr |
| Profit before tax | -2 Cr | -0.20 Cr | -1 Cr | 1 Cr | 3 Cr | -1 Cr | 7 Cr | 2 Cr | -0.86 Cr | 0.17 Cr | 7 Cr | 0.34 Cr |
| Tax % | -51.3% | -833.1% | 62.3% | 155.5% | 52.5% | 25.3% | 82.7% | 63.9% | -56.2% | 471.2% | 1.9% | 107.6% |
| Net profit | -3 Cr | -2 Cr | -0.46 Cr | -0.64 Cr | 1 Cr | -0.93 Cr | 1 Cr | 0.56 Cr | -1 Cr | -0.64 Cr | 7 Cr | -0.03 Cr |
| EPS (₹) | ₹-0.12 | ₹-0.08 | ₹-0.07 | ₹0.00 | ₹0.31 | ₹-0.03 | ₹0.23 | ₹0.04 | ₹-0.10 | ₹-0.04 | ₹0.34 | ₹0.00 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 996 Cr | 709 Cr | 869 Cr | 700 Cr | 415 Cr | 353 Cr | 349 Cr | 388 Cr | 336 Cr | 386 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 935 Cr | 734 Cr | 811 Cr | 729 Cr | 445 Cr | 502 Cr | 348 Cr | 443 Cr | 328 Cr | 378 Cr | Sign in free for the trailing twelve months |
| EBITDA | 61 Cr | -25 Cr | 58 Cr | -29 Cr | -30 Cr | -149 Cr | 1 Cr | -54 Cr | 9 Cr | 9 Cr | Sign in free for the trailing twelve months |
| OPM % | 6.1% | -3.5% | 6.6% | -4.1% | -7.2% | -42.0% | 0.4% | -14.0% | 2.6% | 2.2% | Sign in free for the trailing twelve months |
| Other income | 38 Cr | 43 Cr | 19 Cr | 28 Cr | 26 Cr | 18 Cr | 33 Cr | 38 Cr | 22 Cr | 16 Cr | Sign in free for the trailing twelve months |
| Interest | 201 Cr | 206 Cr | 60 Cr | 60 Cr | 60 Cr | 28 Cr | 13 Cr | 6 Cr | 8 Cr | 7 Cr | Sign in free for the trailing twelve months |
| Depreciation | 43 Cr | 33 Cr | 27 Cr | 14 Cr | 9 Cr | 9 Cr | 9 Cr | 5 Cr | 5 Cr | 5 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -244 Cr | -85 Cr | 294 Cr | -237 Cr | -77 Cr | -177 Cr | -106 Cr | -5 Cr | 10 Cr | 8 Cr | Sign in free for the trailing twelve months |
| Tax % | -25.5% | -2.8% | 2.3% | -17.2% | -5.0% | -1.8% | -18.7% | -60.3% | 89.7% | 31.6% | Sign in free for the trailing twelve months |
| Net profit | -306 Cr | -87 Cr | 287 Cr | -278 Cr | -81 Cr | -180 Cr | -126 Cr | -7 Cr | 1 Cr | 5 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-20.50 | ₹-7.41 | ₹17.32 | ₹-15.73 | ₹-4.61 | ₹-10.22 | ₹-6.98 | ₹-0.32 | ₹0.51 | ₹0.25 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | — | — | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 145 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr | 176 Cr |
| Reserves | 214 Cr | 196 Cr | 509 Cr | 237 Cr | 162 Cr | -17 Cr | -138 Cr | -144 Cr | -150 Cr | -127 Cr |
| Borrowings | 1,219 Cr | 1,008 Cr | 335 Cr | 342 Cr | 362 Cr | 385 Cr | 313 Cr | 198 Cr | 92 Cr | 96 Cr |
| Other liabilities | 1,771 Cr | 1,697 Cr | 1,154 Cr | 1,244 Cr | 1,179 Cr | 889 Cr | 649 Cr | 464 Cr | 380 Cr | 333 Cr |
| Total liabilities | 3,204 Cr | 2,944 Cr | 2,175 Cr | 1,994 Cr | 1,872 Cr | 1,427 Cr | 991 Cr | 683 Cr | 498 Cr | 461 Cr |
| Fixed assets (net) | 292 Cr | 278 Cr | 123 Cr | 78 Cr | 70 Cr | 62 Cr | 37 Cr | 40 Cr | 37 Cr | 28 Cr |
| CWIP | 384 Cr | 309 Cr | 142 Cr | 90 Cr | 90 Cr | 93 Cr | 55 Cr | 58 Cr | 18 Cr | 6 Cr |
| Investments | 0.01 Cr | — | 228 Cr | 213 Cr | 220 Cr | 156 Cr | 70 Cr | 36 Cr | 0 Cr | 0.50 Cr |
| Loans & advances | — | — | 90 Cr | 86 Cr | 90 Cr | 84 Cr | 15 Cr | 29 Cr | 20 Cr | 39 Cr |
| Inventories | 21 Cr | 18 Cr | 4 Cr | 6 Cr | 7 Cr | 5 Cr | 5 Cr | 0 Cr | 0 Cr | 0 Cr |
| Trade receivables | 1,333 Cr | 1,309 Cr | 983 Cr | 917 Cr | 903 Cr | 512 Cr | 325 Cr | 156 Cr | 105 Cr | 80 Cr |
| Cash & bank | 62 Cr | 19 Cr | 13 Cr | 10 Cr | 14 Cr | 9 Cr | 11 Cr | 1 Cr | 4 Cr | 4 Cr |
| Other assets | 1,113 Cr | 1,010 Cr | 592 Cr | 593 Cr | 478 Cr | 506 Cr | 474 Cr | 363 Cr | 315 Cr | 304 Cr |
| Total assets | 3,204 Cr | 2,944 Cr | 2,175 Cr | 1,994 Cr | 1,872 Cr | 1,427 Cr | 991 Cr | 683 Cr | 498 Cr | 461 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 66 Cr | 35 Cr | 83 Cr | -26 Cr | -7 Cr | 38 Cr | 20 Cr | 95 Cr | 54 Cr | -17 Cr |
| Cash from investing | 0.75 Cr | 4 Cr | 5 Cr | 7 Cr | 11 Cr | 25 Cr | 28 Cr | -11 Cr | -12 Cr | 11 Cr |
| Cash from financing | -17 Cr | -82 Cr | -95 Cr | 17 Cr | -0.58 Cr | -68 Cr | -47 Cr | -94 Cr | -39 Cr | 5 Cr |
| Net cash flow | 51 Cr | -43 Cr | -6 Cr | -2 Cr | 4 Cr | -5 Cr | 2 Cr | -9 Cr | 3 Cr | -0.47 Cr |
| Free cash flow (OCF − Capex) | 50 Cr | 29 Cr | 80 Cr | -32 Cr | -11 Cr | 36 Cr | 14 Cr | 85 Cr | 51 Cr | -18 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | -3.0% | 9.7% | 34.6% | -23.6% | -2.5% | -27.7% | -27.2% | 0.7% | 15.2% | 11.7% |
| ROE % | -124.3% | -46.3% | 44.4% | -67.9% | -24.5% | -117.8% | -427.8% | -27.3% | 33.8% | 13.7% |
| Debtor days | 487 | 673 | 412 | 478 | 792 | 527 | 338 | 147 | 113 | 76 |
| Inventory days | 13 | 18 | 3 | 5 | 11 | 9 | 13 | 0 | 0 | 0 |
| Days payable | 491 | 752 | 491 | 574 | 936 | 1021 | 984 | 597 | 682 | 444 |
| Cash conversion cycle | 10 | -61 | -76 | -90 | -133 | -485 | -633 | -451 | -569 | -368 |
| OCF / EBITDA % | 109.0% | — | 144.6% | — | — | — | n.m. | — | n.m. | n.m. |
| OCF / EBITDA % (3 years) | — | — | 198.1% | n.m. | — | — | — | — | — | — |
| Debt / equity | 5.71 | 4.22 | 0.49 | 0.84 | 1.09 | 2.52 | 10.90 | 9.48 | 3.44 | 2.99 |
| Current ratio | 0.94 | 0.95 | 1.01 | 0.92 | 0.90 | 0.81 | 0.79 | 0.72 | 0.77 | 0.83 |
| Net debt / EBITDA | 18.98 | — | 5.59 | — | — | — | 213.93 | — | 10.12 | 10.64 |