Niraj Cement Struc Ltd
NSE: NIRAJ · Civil Construction · sector
₹23.60NSE close 2026-10-26
Key numbers
Market cap₹141 cr
Price₹23.60
52w high / low₹46 / ₹20
P/E5.9xSector median 12.2x
P/B0.5xSector median 1.3x
Book value₹44.5
Dividend yield–Sector median 0.76%
ROE9.3%Sector median 10.2%
ROCE11.1%Sector median 12.9%
OPM3.9%Sector median 10.7%
Debt / equity0.29xSector median 0.36x
EV/EBITDA8.6xSector median 8.8x
Interest cover6.7x
Current ratio2.02x
Sales growth 3y-3.7%Sector median +6.7%
Profit growth 3y+69.7%Sector median +5.8%
PEG0.12x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 119 companies in Civil Construction (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹32 cr vs borrowings ₹76 cr (FY26): borrowings are higher by ₹44 cr.
- Operating profit covered interest 6.7x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY23).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 79% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹23.60 on 2026-10-26: -48.1% from the 52-week high, +17.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹69.58 · low ₹22.49
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 138 | 120 | 167 | 95 | 172 | 140 | 136 | 105 |
| EBITDA | 5 | 2 | 9 | -1 | 10 | 6 | 4 | 1 |
| OPM % | 3.4% | 1.7% | 5.5% | -1.0% | 5.6% | 4.5% | 3.2% | 1.1% |
| Other income | 1 | 1 | 2 | 3 | 2 | 3 | 6 | 7 |
| Net profit | 4 | 2 | 8 | 1 | 9 | 6 | 6 | 4 |
| EPS (₹) | 0.98 | 0.50 | 1.35 | 0.17 | 1.48 | 0.95 | 0.95 | 0.60 |
| Revenue YoY | +24.4% | +16.8% | -18.7% | +10.6% | ||||
| Profit YoY | +124.7% | +161.3% | -33.3% | +257.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 356 | 606 | 471 | 507 | 542 | 552 |
| EBITDA | 1 | 5 | 7 | 16 | 19 | 22 |
| Net profit | 2 | 4 | 10 | 15 | 21 | 24 |
| EPS (₹) | 0.62 | 1.08 | 2.57 | 2.99 | 3.54 | 3.98 |
| Revenue growth | +70.1% | -22.3% | +7.7% | +6.9% | +6.3% | |
| Profit growth | +78.2% | +124.5% | +55.1% | +40.2% | +52.4% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -3.7% | +25.4% | +6.3% |
| Net profit | +69.7% | +74.1% | +52.4% |
| EPS | +48.5% | +57.1% | – |
| Share price | – | -35.9% (2y) | -27.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 177 | 152 | 242 | 266 |
| Borrowings | – | 26 | 1 | 2 | 76 |
| Cash & equivalents | – | 23 | 23 | 41 | 32 |
| Total assets | – | 315 | 225 | 384 | 467 |
| Fixed assets | – | 7 | 9 | 12 | 14 |
| Capital work in progress | – | 0 | 0 | 0 | – |
| Investments | – | 14 | 15 | 23 | 15 |
| Receivables | – | 102 | 57 | 69 | 73 |
| Inventory | – | 3 | 6 | 7 | 6 |
| Payables | – | 39 | 19 | 36 | 23 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 37 | -30 | 27 | -78 | -98 |
| Cash from investing | -14 | 14 | -5 | 4 | 17 |
| Cash from financing | -13 | 5 | -26 | 75 | 71 |
| Capex | 0 | 0 | 4 | 0 | 5 |
| Free cash flow | 37 | -30 | 23 | -78 | -103 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 2.5% | 6.4% | 6.2% | 8.0% |
| ROCE % | – | 3.6% | 8.7% | 8.3% | 9.2% |
| Debtor days | – | 61 | 44 | 50 | 49 |
| Inventory days | – | 2 | 5 | 5 | 4 |
| Payable days | – | 24 | 16 | 28 | 17 |
| Cash conversion cycle (days) | – | 39 | 33 | 27 | 36 |
| Working capital days | – | 75 | 77 | 122 | 135 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 24.93% |
| DIIs | 0.16% |
| Public (non-institutions) | 74.91% |
| Quarter | Mar 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 24.89% | 24.89% | 24.89% | 24.89% | 24.89% | 24.89% | 24.89% | 24.93% |
| Promoter group | % |
|---|---|
| Gulshan Vijaykumar Chopra | 8.78% |
| Pooja Gulshankumar Chopra | 4.66% |
| Aishwarya Gulshan Chopra | 4.66% |
| Siddhant Gulshan Chopra | 4.66% |
| Asha Vijay Chopra | 2.18% |
| Public holders above 1% | % |
|---|---|
| Bylan-niraj Infra Projects Private Limited | 21.44% |
| Chem Logistics & Infra Private Limited | 19.60% |
| Dileep Kumar Singh | 7.10% |
| Expertsource Global Services | 1.40% |
13,863 shareholders. Pledged: – of promoter shares.
Peers in Civil Construction
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LT | ₹5,06,276 cr | 30.5x | 4.6x | 16.7% | 12.8% | 9.4% | +22.2% | 0.92% |
| RVNL | ₹38,083 cr | 42.4x | 3.9x | 9.3% | 10.5% | 4.3% | +0.2% | 1.51% |
| KPIL | ₹22,134 cr | 19.5x | 2.8x | 15.9% | 17.7% | 8.4% | +18.4% | 0.69% |
| IRB | ₹19,639 cr | 20.6x | 0.9x | 4.7% | 7.6% | 53.9% | +6.1% | 0.65% |
| CEMPRO | ₹19,444 cr | 32.3x | 8.1x | 28.4% | 32.3% | 10.4% | +25.5% | 0.18% |
| NBCC | ₹18,536 cr | 25.1x | 6.1x | 27.0% | 33.9% | 5.8% | +13.8% | 1.08% |
| ENGINERSIN | ₹13,725 cr | 17.5x | 4.4x | 27.0% | 28.8% | 19.4% | +5.7% | 1.84% |
| TECHNOE | ₹9,612 cr | 22.3x | 2.3x | 10.9% | 13.7% | 14.0% | +57.7% | 1.09% |
| IRCON | ₹9,177 cr | 17.5x | 1.4x | 8.1% | 8.2% | 8.3% | -4.4% | 2.25% |
| NIRAJ | ₹141 cr | 5.9x | 0.5x | 9.3% | 11.1% | 3.9% | -3.7% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2023-09-15 | Other | Annual General Meeting |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-09-22 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Civil Construction |
| Sub-industry | Civil Construction |
| Symbol | NIRAJ |
| BSE code | 532986 |
| ISIN | INE368I01016 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.