Price
Financials
Standalone, Rs crore| Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2.48 | 2.57 | 2.19 | 3.20 | 4.40 | 8.57 | 5.52 | 8.80 | 6.35 | 18.14 | 9.43 | 32.13 |
| Expenses | 4.11 | 4.80 | 4.33 | 4.83 | 4.53 | 4.83 | 4.53 | 6.52 | 4.87 | 14.30 | 8.27 | 26.63 |
| Operating Profit | -1.63 | -2.23 | -2.14 | -1.63 | -0.13 | 3.74 | 0.99 | 2.28 | 1.48 | 3.84 | 1.16 | 5.50 |
| OPM % | -65.73% | -86.77% | -97.72% | -50.94% | -2.95% | 43.64% | 17.93% | 25.91% | 23.31% | 21.17% | 12.30% | 17.12% |
| Other Income | 0.00 | 0.01 | 0.01 | -0.01 | 0.00 | 0.12 | 0.00 | 0.00 | 0.00 | 0.15 | 0.22 | 0.06 |
| Interest | 0.70 | 0.63 | 0.46 | 0.77 | 0.71 | 0.75 | 0.63 | 0.56 | 0.71 | 0.82 | 0.45 | 0.45 |
| Depreciation | 0.81 | 0.78 | 0.54 | 0.53 | 0.37 | 0.71 | 0.24 | 0.26 | 0.54 | 0.29 | 0.54 | 0.89 |
| Profit before tax | -3.14 | -3.63 | -3.13 | -2.94 | -1.21 | 2.40 | 0.12 | 1.46 | 0.23 | 2.88 | 0.39 | 4.22 |
| Tax % | 0.00% | 0.00% | 0.00% | -3.06% | 0.00% | 24.17% | 25.00% | 26.03% | 8.70% | -4.51% | -5.13% | 14.45% |
| Net Profit | -3.13 | -3.63 | -3.13 | -2.85 | -1.20 | 1.82 | 0.09 | 1.07 | 0.21 | 3.01 | 0.41 | 3.61 |
| EPS in Rs | -2.28 | -2.65 | -2.28 | -2.08 | -0.88 | 1.33 | 0.07 | 0.78 | 0.15 | 2.29 | 0.31 | 2.74 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 14.84 | 16.44 | 18.08 | 20.87 | 15.53 | 8.62 | 5.05 | 5.39 | 11.95 | 14.31 | 24.50 | 41.56 |
| Expenses | 14.39 | 14.50 | 15.89 | 17.64 | 11.99 | 11.34 | 7.93 | 7.23 | 9.13 | 11.01 | 19.14 | 34.85 |
| Operating Profit | 0.45 | 1.94 | 2.19 | 3.23 | 3.54 | -2.72 | -2.88 | -1.84 | 2.82 | 3.30 | 5.36 | 6.71 |
| OPM % | 3.03% | 11.80% | 12.11% | 15.48% | 22.79% | -31.55% | -57.03% | -34.14% | 23.60% | 23.06% | 21.88% | 16.15% |
| Other Income | 1.39 | -0.03 | 0.22 | 0.26 | 0.02 | 0.14 | -0.95 | -0.07 | 0.10 | -0.03 | 0.10 | 0.24 |
| Interest | 0.65 | 0.89 | 1.05 | 1.20 | 1.38 | 1.41 | 1.34 | 1.24 | 1.46 | 1.19 | 1.53 | 0.90 |
| Depreciation | 0.82 | 0.60 | 0.57 | 1.03 | 1.80 | 2.15 | 1.59 | 1.07 | 0.71 | 0.50 | 0.83 | 1.43 |
| Profit before tax | 0.37 | 0.42 | 0.79 | 1.26 | 0.38 | -6.14 | -6.76 | -4.22 | 0.75 | 1.58 | 3.10 | 4.62 |
| Tax % | 100.00% | -45.24% | -30.38% | -0.79% | -15.79% | -3.91% | -2.51% | -2.13% | 21.33% | 26.58% | -3.55% | 12.99% |
| Net Profit | 0.00 | 0.61 | 1.03 | 1.27 | 0.44 | -5.90 | -6.59 | -4.13 | 0.60 | 1.16 | 3.22 | 4.03 |
| EPS in Rs | 0.00 | 1.52 | 2.58 | 0.93 | 0.32 | -4.31 | -4.81 | -3.01 | 0.44 | 0.85 | 2.45 | 3.06 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 10% | 52% | 52% | 70% | ||
| Compounded Profit Growth | 21% | 22% | 97% | 31% | ||
| Stock Price CAGR | % | 45% | 38% | 116% | ||
| Return on Equity | % | % | % | 40% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2.00 | 2.00 | 2.00 | 6.84 | 6.84 | 6.84 | 6.84 | 6.84 | 6.84 | 6.84 | 13.16 | 13.16 |
| Reserves | 2.25 | 2.82 | 3.85 | 5.79 | 6.22 | 0.06 | -6.53 | -10.66 | -10.06 | -8.91 | -5.06 | -1.03 |
| Borrowings | 2.58 | 3.31 | 3.63 | 6.62 | 11.26 | 11.59 | 11.36 | 11.97 | 9.83 | 9.38 | 7.29 | 5.71 |
| Other Liabilities | 4.27 | 5.70 | 3.55 | 2.97 | 3.13 | 2.70 | 2.52 | 2.07 | 2.98 | 3.90 | 6.24 | 6.14 |
| Total Liabilities | 11.10 | 13.83 | 13.03 | 22.22 | 27.45 | 21.19 | 14.19 | 10.22 | 9.59 | 11.21 | 21.63 | 23.98 |
| Fixed Assets | 1.87 | 1.37 | 2.30 | 3.74 | 7.01 | 5.55 | 3.79 | 2.48 | 1.67 | 1.66 | 3.33 | 6.59 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.00 | 0.15 | 0.00 | 0.97 |
| Other Assets | 9.23 | 12.46 | 10.66 | 18.42 | 20.38 | 15.58 | 10.34 | 7.68 | 7.92 | 9.40 | 18.30 | 16.42 |
| Total Assets | 11.10 | 13.83 | 13.03 | 22.22 | 27.45 | 21.19 | 14.19 | 10.22 | 9.59 | 11.21 | 21.63 | 23.98 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2.92 | 0.23 | -0.49 | -3.43 | 3.90 | 1.75 | 1.03 | 1.12 | 3.37 | 0.36 | 2.65 | 1.18 |
| Cash from Investing Activity | 3.48 | -0.13 | -1.96 | -2.96 | -5.87 | -0.68 | 1.61 | 0.59 | 0.06 | -0.61 | -2.45 | -5.71 |
| Cash from Financing Activity | -5.79 | 0.34 | -1.47 | 6.12 | 1.95 | -1.11 | -2.37 | -1.93 | -3.47 | 0.33 | 6.68 | -2.32 |
| Net Cash Flow | 0.61 | 0.45 | -3.92 | -0.26 | -0.02 | -0.04 | 0.27 | -0.22 | -0.04 | 0.08 | 6.88 | -6.85 |
| Free Cash Flow | 6.40 | 0.10 | -1.75 | -5.67 | -1.17 | 1.07 | 1.03 | 1.36 | 3.47 | -0.13 | 0.15 | -3.50 |
| CFO/OP | 702% | 38% | -22% | -106% | 113% | -64% | -36% | -61% | 125% | 24% | 49% | 18% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71.82 | 116.78 | 107.40 | 159.85 | 253.36 | 269.30 | 256.58 | 242.43 | 104.15 | 116.82 | 89.98 | 95.73 |
| Inventory Days | 0.00 | 0.00 | 155.61 | 242.15 | 641.34 | 385.76 | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Days Payable | 254.20 | 106.83 | 252.69 | 256.02 | ||||||||
| Cash Conversion Cycle | 71.82 | 116.78 | 8.82 | 295.17 | 253.36 | 657.95 | 386.32 | 242.43 | 104.15 | 116.82 | 89.98 | 95.73 |
| Working Capital Days | -29.27 | 4.44 | 62.18 | 178.74 | 229.15 | 211.29 | -60.71 | -268.16 | -146.31 | -60.45 | -1.49 | 51.73 |
| ROCE % | -3.91% | 17.91% | 20.90% | 15.45% | 8.17% | -21.35% | -29.58% | -29.26% | 28.73% | 40.23% | 39.91% | 33.52% |
| Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.13% | 73.13% | 73.13% | 73.13% | 73.13% | 73.13% | 73.13% | 73.13% | 73.13% | 68.84% | 68.84% | 68.84% |
| Public | 26.88% | 26.87% | 26.87% | 26.87% | 26.87% | 26.87% | 26.87% | 26.87% | 26.87% | 31.16% | 31.16% | 31.16% |
| No. of Shareholders | 284 | 270 | 267 | 281 | 273 | 259 | 248 | 232 | 224 | 238 | 248 | 197 |
Fundamentals
Market Cap₹ 53.6 Cr.
Current Price₹ 40.8
Stock P/E13.1
Book Value₹ 9.22
ROCE33.5 %
ROE40.3 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)70%
Compounded Profit Growth (TTM)31%
Standalone figures.
Valuation
Market capRs 54 Cr
Enterprise valueRs 59 Cr
P/E (TTM)13.31x
Price to book4.42x
Price to sales1.29x
EV / EBITDA8.52x
EV / EBIT10.73x
EV / sales1.42x
Price to cash flow45.45x
Earnings yield7.51%
P/E, 3-year average9.58x
P/B, 3-year average-0.11x
P/E, 5-year average10.05x
P/B, 5-year average-0.70x
Profitability
Operating margin (excl. other income)16.15%
Operating margin (incl. other income)16.72%
EBITDA margin16.72%
Pre-tax margin11.12%
Net profit margin9.70%
ROE39.84%
ROCE33.22%
ROA17.67%
ROE, 3-year average34.26%
ROCE, 3-year average37.94%
ROA, 3-year average16.15%
ROE, 5-year average64.21%
ROCE, 5-year average22.74%
ROA, 5-year average4.13%
ROIC (approx.)27.12%
Tax rate12.99%
Other income / net worth1.98%
Growth
Sales growth (latest year)69.63%
Profit growth (latest year)25.16%
Sales CAGR, 3 years51.51%
Sales CAGR, 5 years52.43%
Profit CAGR, 3 years88.68%
Per share
EPS (TTM)Rs 3.06
EPS (latest year)Rs 3.06
EPS, 3-year averageRs 2.40
EPS, 5-year averageRs 0.41
Book value per shareRs 9.22
Sales per shareRs 31.58
Cash flow per shareRs 0.90
Free cash flow per shareRs -2.66
Efficiency
Asset turnover1.73x
Fixed asset turnover6.31x
Debtor days96 days
Debtors turnover3.81x
Creditor days256 days
Cash conversion cycle96 days
Working capital days52 days
Leverage
Total debtRs 6 Cr
Cash and bankRs 0 Cr
Net debtRs 6 Cr
Debt to equity0.47x
Net debt / EBITDA0.80x
Interest coverage6.13x
Owners' fund to total sources50.58%
Debt to assets23.81%
Cash flow
Cash from Operating Activity (latest year)Rs 1 Cr
Cash from Investing Activity (latest year)Rs -6 Cr
Cash from Financing Activity (latest year)Rs -2 Cr
Net Cash Flow (latest year)Rs -7 Cr
Free cash flow (latest year)Rs -4 Cr
FCFE (approx.: FCF + change in debt)Rs -5 Cr
Cash from ops / profit, 5 years1.78x
Sales to cash flow35.22x
Statement figures
Net sales (TTM)Rs 42 Cr
Net sales (latest year)Rs 42 Cr
Operating profit excl. other income (latest year)Rs 7 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 7 Cr
PBDT (TTM)Rs 6 Cr
Profit before tax (TTM)Rs 5 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 4 Cr
Net profit (latest year)Rs 4 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 32 Cr
Total expenditure (latest year)Rs 35 Cr
Total income (latest year)Rs 42 Cr
Share capitalRs 13 Cr
ReservesRs -1 Cr
Shareholders' fundsRs 12 Cr
Total assetsRs 24 Cr
Net blockRs 7 Cr
InvestmentsRs 1 Cr
ReceivablesRs 11 Cr
Other liabilitiesRs 6 Cr
Shares outstanding (crore)1.32
Ownership
Promoter holding68.84% (-4.29 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 13.3 is at the 36th percentile of its own 5.8-year range
(median 15.5, low 5.4, high 49.4).
P/B 4.42 is at the 74th percentile (median 1.14).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | MANAV | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +13.2% | -2.8% | +16.0 pts |
| 1 month | +67.0% | -6.8% | +73.8 pts |
| 3 months | +1.9% | -7.6% | +9.5 pts |
| 6 months | +96.4% | +0.4% | +96.0 pts |
| 1 year | +117.9% | -9.9% | +127.8 pts |
| 2 years | +454.4% | -13.6% | +468.0 pts |
| 3 years | +115.6% | +14.2% | +101.4 pts |
| 5 years | +458.2% | +27.9% | +430.3 pts |
Red flags
F-score 6 of 8| explain | Weak cash conversion Cash from operations was 50% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 12% of total assets in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2026Sales ₹32 Cr +265.1% vs Mar 2024.
Net profit ₹4 Cr +237.4%.
Against our estimate for Mar 2026: sales +10.7%, profit +50.7% beat.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Larsen & Toubro Ltd | 515,837 | 29.3 | 14.6 % |
| Rail Vikas Nigam Ltd | 41,263 | 45.9 | 10.8 % |
| Kalpataru Projects International Ltd | 23,312 | 21.0 | 18.3 % |
| NBCC (India) Ltd | 21,063 | 30.8 | 29.3 % |
| Cemindia Projects Ltd | 21,015 | 34.9 | 32.8 % |
| IRB Infrastructure Developers Ltd | 20,508 | 20.8 | 7.47 % |
| Engineers India Ltd | 17,435 | 22.2 | 30.4 % |
| Central Mine Planning & Design Institute Ltd | 15,217 | 23.3 | 38.1 % |
| Techno Electric & Engineering Company Ltd | 11,748 | 22.8 | 15.2 % |
| Welspun Enterprises Ltd | 10,302 | 29.1 | 16.7 % |
| KEC International Ltd | 10,072 | 16.8 | 16.5 % |
| Ircon International Ltd | 9,637 | 18.4 | 9.27 % |
| Rites Ltd | 9,242 | 22.1 | 23.0 % |
| Afcons Infrastructure Ltd | 9,014 | 44.0 | 13.9 % |
| NCC Ltd | 8,053 | 11.2 | 16.8 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 150perc in previous 12 monthsHigh low price variation greater than 75perc in previous 3 monthsLess than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of Manav Infra Projects Ltd?
Manav Infra Projects Ltd (MANAV) has a market capitalisation of Rs 53.6 Cr. at the 2026-09-11 close.
What is the P/E ratio of Manav Infra Projects Ltd?
Manav Infra Projects Ltd trades at a P/E of 13.1 on trailing twelve-month profit, at the 2026-09-11 close.
What were Manav Infra Projects Ltd's latest quarterly results?
In the Mar 2026 quarter, Manav Infra Projects Ltd sales was Rs 32 Cr (+265.1% vs Mar 2024) and net profit was Rs 4 Cr.
What is the 52-week high and low of Manav Infra Projects Ltd?
The 52-week high is Rs 47.00 and the 52-week low is Rs 18.75.