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10 Yrs X-Ray 
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Analyst Note 
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About
Ducon Infratechnologies Ltd (DUCON)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 534674 NSE: DUCON Engineering - Construction | Small Cap | Ducon Infratech. Share Price
₹1.77 -0.02 (-1.12%)
As on 11-Sep'26 16:59
Ducon Infratechnologies Ltd (DUCON)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 534674 NSE: DUCON Engineering - Construction | Small Cap | Ducon Infratech. Share Price
₹1.77 -0.02 (-1.12%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹102 Cr.
Current Price
₹1.8
52-Week Low / High
₹2 / 5
TTM EPS
₹0.2
TTM Sales
₹412 Cr.
Book Value per Share
₹3.4
P/E Ratio
10.15
Lower than its 5-year historical median
Industry PE
24.5
Price to Book (P/B)
0.53
Lower than its 5-year historical median
Price to Sales (P/S)
0.25
Lower than its 5-year historical median
EV/EBITDA
6.82
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
9.41%
Outperforms industry median
Return on Capital Employed (ROCE)
12.26%
In line with industry median
Return on Assets (ROA)
4.56%
Operating Profit Margin
6.6%
Net Profit Margin
3.01%
Gross Profit Margin
4.6%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-19.71%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
39.87%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
77.59%
Asset Quality
Promoter Holding
38.08%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹136 Cr.
Equity
₹57.5 Cr.
Face Value
₹1
All Time Low / High
₹0.11 / 54.69
Check Before You Invest
Quality
Not GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is Ducon Infratechnologies Ltd a good quality company?
Ducon Infratechnologies Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Ducon Infratechnologies Ltd performance compare with that of its Peers?
Revenue growth of Ducon Infratechnologies Ltd vs industry peers?
Ducon Infratechnologies Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0.00%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Ducon Infratechnologies Ltd?
Promoters hold 38.08% of the Ducon Infratechnologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Ducon Infratechnologies Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -19.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ducon Infratechnologies Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 4.4% | 15.7% | 6.7% | 10.4% | 6.1% | 6.2% | 4.9% | 6.9% | 7.8% | 7.5% | - |
| Value Creation Index ⓘ | -0.7 | 0.1 | -0.5 | -0.3 | -0.6 | -0.6 | -0.7 | -0.5 | -0.4 | -0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 32.5 | 398 | 415 | 394 | 381 | 342 | 124 | 312 | 315 | 253 | 228 |
| Sales YoY Gr. | - | 1,124% | 4.3% | -5% | -3.4% | -10.2% | -63.6% | 150.6% | 1% | -19.7% | - |
| Adj EPS ⓘ | 0 | 0.4 | 0.2 | 0.4 | 0.1 | 0 | 0 | 0.1 | 0.1 | 0.1 | 0 |
| YoY Gr. | - | 1066.7% | -48.6% | 100% | -86.1% | -80% | 100% | 400% | 30% | -15.4% | - |
| BVPS (₹) ⓘ | 2 | 5.1 | 5.3 | 4.5 | 4.5 | 3.9 | 3.8 | 3 | 2.9 | 3.3 | 2.9 |
| Adj Net Profit ⓘ | 0.4 | 4.6 | 2.3 | 6.3 | 0.9 | 0.4 | 0.8 | 3.9 | 5 | 5.1 | 2 |
| Cash Flow from Ops. ⓘ | 1.6 | -8.6 | -7.8 | -5.8 | 3.9 | -54.1 | 9.1 | 0.6 | 12.2 | -28.2 | - |
| Debt/CF from Ops. ⓘ | 4.5 | -9.7 | -11.9 | -18.9 | 31.9 | -1.2 | 9.1 | 152.5 | 8.5 | -3.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 25.6% | -7.9% | 26.6% | -19.7% | ||||
| Adj EPS ⓘ | 15.5% | 17.1% | 76.5% | -15.4% | ||||
| BVPSⓘ | 5.9% | -5.9% | -4.3% | 16.1% | ||||
| Share Price | -20.1% | -23% | -27.7% | -54% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.5 | 9.6 | 3.3 | 8.4 | 1.1 | 0.4 | 0.6 | 2.9 | 4.3 | 3.9 | 1.3 |
| Op. Profit Mgn % ⓘ | 6.8 | 3.8 | 2.5 | 4.6 | 3.1 | 3.7 | 8.4 | 4.7 | 5.1 | 6.3 | 5.2 |
| Net Profit Mgn % ⓘ | 1.2 | 1.2 | 0.6 | 1.6 | 0.2 | 0.1 | 0.7 | 1.2 | 1.6 | 2 | 1 |
| Debt to Equity ⓘ | 0.3 | 1.2 | 1.3 | 1.4 | 1.6 | 0.6 | 0.6 | 0.8 | 0.9 | 0.7 | - |
| Working Cap Days ⓘ | 298 | 113 | 201 | 227 | 248 | 281 | 775 | 303 | 300 | 362 | 201 |
| Cash Conv. Cycle ⓘ | 165 | 74 | 134 | 155 | 181 | 211 | 602 | 242 | 232 | 293 | 108 |
Valuation of Ducon Infratech. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 14.81 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|
| Sales | 342 | 384 | 396 | 419 | 451 |
| Operating Expenses ⓘ + | 329 | 368 | 379 | 398 | 421 |
| Operating Profit ⓘ | 13 | 17 | 16 | 21 | 30 |
| Operating Profit Margin (%) | 3.7% | 4.3% | 4.1% | 5.1% | 6.6% |
| Other Income ⓘ + | 1 | 0 | 1 | 1 | 2 |
| Interest ⓘ | 12 | 10 | 10 | 10 | 11 |
| Depreciation ⓘ | 0 | 1 | 1 | 1 | 1 |
| Profit Before Tax ⓘ | 1 | 6 | 6 | 11 | 19 |
| Tax ⓘ | 0 | 2 | 2 | 3 | 6 |
| Profit After Tax | 0 | 4 | 4 | 8 | 14 |
| PAT Margin (%) | 0.1% | 1.2% | 1.0% | 1.8% | 3.0% |
| Adjusted EPS (₹) | 0.0 | 0.1 | 0.1 | 0.2 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 116 | 135 | 122 | 120 | 168 | ||||||
| Debt + | 65 | 82 | 92 | 100 | 99 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 48 | 53 | 42 | 48 | 19 | ||||||
| Others Liabilities ⓘ | 46 | 31 | 19 | 23 | 17 | ||||||
| Total Liabilities ⓘ | 275 | 300 | 276 | 292 | 302 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 0 | 6 | 5 | 4 | 4 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | ||||||
| Investments ⓘ | 5 | 5 | 5 | 5 | 5 | ||||||
| Inventories | 0 | 0 | 0 | 0 | 0 | ||||||
| Trade Receivables | 249 | 268 | 242 | 258 | 242 | ||||||
| Cash Equivalents | 7 | 7 | 10 | 11 | 37 | ||||||
| Others Assets ⓘ | 13 | 13 | 13 | 14 | 13 | ||||||
| Total Assets ⓘ | 275 | 300 | 276 | 292 | 302 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -54 | 16 | 1 | 12 | -28 |
| Cash Flow From Investing Activity ⓘ + | -0 | -7 | -0 | -0 | -0 |
| Cash Flow From Financing Activity ⓘ + | 54 | -9 | -0 | -12 | 29 |
| Net Cash Flow ⓘ | -0 | -0 | 0 | -0 | -0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.36 | 3.54 | 3.19 | 6.28 | 9.41 | |||||
| ROCE (%) | 6.1 | 7.13 | 6.91 | 9.41 | 12.26 | |||||
| Asset Turnover Ratio | 1.24 | 1.34 | 1.37 | 1.48 | 1.52 | |||||
| PAT to CFO Conversion(x) | N/A | 4 | 0.25 | 1.5 | -2 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 265.90 | 245.60 | 235.20 | 217.70 | 202.60 | |||||
| Inventory Days | 0 | 0 | 0 | 0 | 0 | |||||
| Payable Days | 53.70 | 50.90 | 47.10 | 42.90 | 30.60 | |||||
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Ducon Infratechnologies Ltd FAQs
The current trading price of Ducon Infratech. on 11-Sep-2026 16:59 is ₹1.77.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Ducon Infratech. stood at ₹101.8 Cr
The latest P/E ratio of Ducon Infratech. as of 10-Sep-2026 is 43.52.
The latest P/B ratio of Ducon Infratech. as of 10-Sep-2026 is 0.60.
The 52-week high of Ducon Infratech. is ₹4.53 and the 52-week low is ₹1.58.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ducon Infratech. is ₹228 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ducon Infratechnologies Ltd is a below average quality company.
The key valuation ratios of Ducon Infratechnologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ducon Infratechnologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Ducon Infratechnologies Ltd
Ducon Infratechnologies provides fossil fuel clean technologies and engineering, procurement & construction (EPC) solutions. It works at the intersection of energy, environment and infrastructure, helping utilities and industries meet stringent emission norms while maintaining reliable power supply. Its portfolio spans flue gas desulphurization (FGD) systems, wet scrubbers, bag filters, cyclones, bulk material handling systems, surveillance systems, and electrification & infrastructure projects. With strong engineering capabilities and project experience, the company acts as a single-source partner from design to commissioning. The company serves to wide range of Industries including Power generation (coal & lignite), Alumina and non-ferrous industries, Cement and building materials, Oil & gas and refineries and General process industries.
The company has developed and implemented technologies for seawater and limestone-based FGD systems as well as dry sorbent injection. Its installations serve large thermal power plants of upto 1000 MW single boilers, as well as industrial boilers, reducing SO2 and particulate emissions in line with regulatory norms and enabling future integration with carbon capture where required. Beyond FGD, Ducon executes projects involving belt conveyors, pipe conveyors, pneumatic conveying, silo systems, air slides and related bulk material handling equipment. These solutions are deployed in power stations, ports, mines and industrial plants. Further, it offers Rural electrification and infrastructure works, aligning with India’s development programs and last-mile connectivity requirements.
Business area of the company
The company is in the business of Heavy Engineering & Clean Technology. It provides fossil fuel clean technologies and engineering, procurement & construction (EPC) solutions.
Products and services of the company
Infrastructure System
- FGD Systems in Thermal Power Plants
- Air Pollution Control
- Bulk Material Handling
- Electrification & Infrastructure
Industrial Engineering Services (IES)
- Design build services for projects
- Production Plant expansions
- Optimize bulk materials storage, loading & unloading capacity increases
- Technical feasibility studies
- Full range of Industrial automation & process control systems
- Pipe and vessel stress analysis utilizing 3D modeling and finite element analysis.
- Project coordination, planning, and implementation
- Detailed engineering & 3D modeling
History and milestones
- 2017: The company incorporated Wholly-owned Unlisted Material Subsidiary in USA named ‘Ducon Combustion Equipment Inc.’
- 2019: The company secured FGD project order from Chloride Metals for their Greenfield lead metal recycling and refining project in Haldia.
- 2019: Entered into strategic tie up with Sterling & Wilson, a flagship group company of Shapoorji Pallonji group, to jointly bid large size FGD tenders.
- 2022: set up a new business division, ‘Hydrofule’ in its wholly owned USA based subsidiary to carry out Research & Development work on building a large scale economical Green Hydrogen Electrolyzer.
- 2024: Signed MoU with deltaVision to provide innovative fluid control solutions pertaining to rocket fuel propulsion systems and Hydrogen fuel delivery systems for the Indian market.
- 2025: The company commenced research and development (R&D) to design and pilot a next-generation solvent-based technology for carbon capture.
- 2025: The company launched its cutting-edge artificial intelligence platform, IQ Energy AI, (www.iqenergy.ai) designed to globally help utilities and industries optimize power plant operations and maximize output efficiency.
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