RAMKY

Ramky Infrastructure Limited

EPC and infrastructure group with construction and annuity businesses

Industrials›Construction›Construction›Civil Construction

ramky.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹269.65
Market cap
1,866 Cr
Stock P/E
7.9
P/B
0.86
Dividend yield
0.2%
ROE (FY26)
12.6%
ROCE (FY26)
15.5%
Operating margin (FY26)
9.4%
Debt / equity (FY26)
0.27
OCF / EBITDA (FY26)
-113.9%
OCF / EBITDA (3Y)
44.7%

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

Ramky Infrastructure builds and operates infrastructure in India, with its current focus on industrial parks, water and wastewater projects and urban infrastructure, working through engineering, procurement and construction (EPC) contracts and concession models such as hybrid annuity (HAM), build-operate-transfer (BOT) and operations and maintenance (O&M).

Company snapshot

37thBy market cap

Ranked among 90 companies in Civil Construction.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 93.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Construction Business
93.7%
430 Cr86 Cr0 Cr
Developer Business
31.8%
146 Cr-10 Cr0 Cr

Shares add up to 125% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 15.3% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 45% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
1 more signal from the filings.Sign in free to see them all

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

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales582 Cr441 Cr581 Cr569 Cr527 Cr459 Cr489 Cr379 Cr472 Cr489 Cr507 Cr471 Cr
Operating expenses (approx.)401 Cr364 Cr486 Cr453 Cr399 Cr369 Cr487 Cr303 Cr389 Cr413 Cr511 Cr443 Cr
EBITDA181 Cr77 Cr95 Cr116 Cr129 Cr90 Cr2 Cr76 Cr83 Cr76 Cr-4 Cr29 Cr
OPM %31.0%17.5%16.4%20.4%24.4%19.5%0.4%20.0%17.5%15.5%-0.8%6.1%
Other income41 Cr40 Cr43 Cr36 Cr36 Cr40 Cr55 Cr61 Cr57 Cr62 Cr15 Cr72 Cr
Interest46 Cr45 Cr28 Cr29 Cr30 Cr26 Cr35 Cr22 Cr18 Cr18 Cr16 Cr37 Cr
Depreciation12 Cr12 Cr13 Cr12 Cr13 Cr13 Cr13 Cr14 Cr15 Cr15 Cr14 Cr9 Cr
Profit before tax164 Cr59 Cr97 Cr111 Cr122 Cr90 Cr8 Cr101 Cr108 Cr105 Cr40 Cr55 Cr
Tax %26.3%36.6%41.0%35.8%31.8%33.8%139.6%23.6%29.7%26.0%-29.2%29.7%
Net profit121 Cr38 Cr58 Cr71 Cr83 Cr60 Cr-3 Cr77 Cr76 Cr78 Cr52 Cr39 Cr
EPS (₹)₹16.28₹5.27₹8.29₹9.77₹11.30₹8.15₹-0.67₹10.75₹10.87₹11.35₹6.21₹5.68

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,719 Cr1,578 Cr1,749 Cr1,387 Cr1,056 Cr1,459 Cr1,705 Cr2,161 Cr2,045 Cr1,846 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,601 Cr1,568 Cr1,574 Cr1,432 Cr954 Cr1,253 Cr1,367 Cr1,650 Cr1,708 Cr1,616 CrSign in free for the trailing twelve months
EBITDA118 Cr10 Cr175 Cr-45 Cr103 Cr205 Cr338 Cr510 Cr336 Cr230 CrSign in free for the trailing twelve months
OPM %6.8%0.7%10.0%-3.3%9.7%14.1%19.8%23.6%16.4%12.5%Sign in free for the trailing twelve months
Other income391 Cr525 Cr255 Cr169 Cr185 Cr322 Cr161 Cr160 Cr166 Cr195 CrSign in free for the trailing twelve months
Interest399 Cr369 Cr378 Cr341 Cr325 Cr373 Cr363 Cr158 Cr120 Cr73 CrSign in free for the trailing twelve months
Depreciation59 Cr55 Cr48 Cr45 Cr32 Cr31 Cr42 Cr48 Cr51 Cr57 CrSign in free for the trailing twelve months
Profit before tax22 Cr78 Cr3 Cr-263 Cr-70 Cr123 Cr1,389 Cr463 Cr331 Cr354 CrSign in free for the trailing twelve months
Tax %153.3%58.2%101.5%-1.1%128.0%67.3%17.0%30.7%36.4%20.1%Sign in free for the trailing twelve months
Net profit-12 Cr33 Cr-0.05 Cr-266 Cr19 Cr40 Cr1,153 Cr321 Cr210 Cr283 CrSign in free for the trailing twelve months
EPS (₹)₹-1.05₹5.00₹2.55₹-29.43₹2.83₹3.41₹164.83₹44.48₹28.54₹39.17Sign in free for the trailing twelve months
Dividend payout %————0.0%11.0%0.4%1.4%2.1%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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital57 Cr57 Cr60 Cr69 Cr69 Cr69 Cr69 Cr69 Cr69 Cr69 Cr
Reserves293 Cr352 Cr389 Cr251 Cr271 Cr207 Cr1,342 Cr1,643 Cr1,835 Cr2,093 Cr
Borrowings2,650 Cr2,422 Cr2,432 Cr2,168 Cr1,912 Cr2,124 Cr1,650 Cr834 Cr570 Cr591 Cr
Other liabilities2,482 Cr2,083 Cr1,682 Cr1,838 Cr2,108 Cr2,031 Cr1,453 Cr1,564 Cr1,551 Cr1,375 Cr
Total liabilities5,599 Cr5,035 Cr4,668 Cr4,350 Cr4,383 Cr4,555 Cr4,651 Cr4,262 Cr4,190 Cr4,124 Cr
Fixed assets (net)254 Cr250 Cr239 Cr204 Cr189 Cr257 Cr320 Cr214 Cr203 Cr186 Cr
CWIP0.04 Cr16 Cr0.04 Cr0.70 Cr28 Cr28 Cr58 Cr—0.09 Cr1 Cr
Investments170 Cr138 Cr6 Cr6 Cr7 Cr7 Cr7 Cr0.28 Cr0.24 Cr0.24 Cr
Loans & advances——41 Cr5 Cr0 Cr0 Cr53 Cr44 Cr11 Cr0 Cr
Inventories527 Cr520 Cr389 Cr164 Cr147 Cr169 Cr177 Cr115 Cr112 Cr97 Cr
Trade receivables1,191 Cr943 Cr606 Cr366 Cr331 Cr443 Cr377 Cr413 Cr377 Cr767 Cr
Cash & bank80 Cr59 Cr92 Cr190 Cr189 Cr52 Cr797 Cr85 Cr67 Cr149 Cr
Other assets3,377 Cr3,110 Cr3,295 Cr3,414 Cr3,492 Cr3,598 Cr2,862 Cr3,391 Cr3,421 Cr2,924 Cr
Total assets5,599 Cr5,035 Cr4,668 Cr4,350 Cr4,383 Cr4,555 Cr4,651 Cr4,262 Cr4,190 Cr4,124 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity350 Cr421 Cr404 Cr263 Cr230 Cr278 Cr2,611 Cr370 Cr373 Cr-262 Cr
Cash from investing78 Cr-21 Cr106 Cr30 Cr-4 Cr-85 Cr-215 Cr-72 Cr-11 Cr413 Cr
Cash from financing-491 Cr-421 Cr-477 Cr-195 Cr-227 Cr-327 Cr-1,650 Cr-1,011 Cr-380 Cr-69 Cr
Net cash flow-63 Cr-21 Cr33 Cr98 Cr-1 Cr-135 Cr745 Cr-712 Cr-18 Cr82 Cr
Free cash flow (OCF − Capex)291 Cr358 Cr390 Cr257 Cr189 Cr180 Cr2,472 Cr260 Cr227 Cr-299 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %13.5%15.1%12.8%3.1%11.2%19.6%54.8%23.0%17.1%15.5%
ROE %-1.3%6.1%2.7%-57.5%5.3%5.8%73.7%16.5%9.5%12.6%
Debtor days25221712696114111807067151
Inventory days11263557781199544283493080768638192819
Days payable200100375412562427897136899797698120108173144
Cash conversion cycle164-36796082-42473372-905-68989901-2-19-7726
OCF / EBITDA %297.9%n.m.231.4%—223.7%135.3%772.2%72.6%110.9%-113.9%
OCF / EBITDA % (3 years)——388.3%n.m.386.8%293.6%482.7%309.3%283.2%44.7%
Debt / equity7.575.915.426.765.637.691.170.490.300.27
Current ratio0.950.980.980.870.900.630.881.120.881.57
Net debt / EBITDA21.84—13.40—16.8010.102.521.471.501.92