Capacit'e Infraprojects financials and balance sheet

NSE: CAPACITEBSE: 540710ConstructionSmall Cap

₹149.22₹5.71 (3.69%)BSE ₹149.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹154.93.

52-week range of traded prices to 23 Oct 2026

₹147.61Low, 23 Oct 2026₹314.25High, 17 Nov 2025

Next results date: the board meets on 4 Nov 2026 to consider: financial results.

Market cap: ₹1,262 Cr1,163rd largest listed
P/E: 6.8
P/B: 0.7
Dividend yield: Nonein the last 12 months
ROE: 10.2%
ROCE: 13.5%
Debt to equity: 0.25
Volume, NSE: 4,23,75447.1% delivered

9 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Capacit'e Infraprojects annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹2,623 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 3.0% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,623
Materials and goods−881
Employee costs−182
Other expenses−1,132
Operating profit427
Depreciation−99
Other income+21
One-off items0.0
Finance costs−96
Profit before tax253
Tax−66
Joint ventures+6.1
Net profit193

What the company owns

Plant, investments and other assets₹2,545 Cr
Receivables₹1,085 Cr
Cash and bank₹164 Cr
Inventory₹129 Cr

What pays for it: net worth and liabilities

Net worth₹1,912 Cr
Owed to suppliers₹910 Cr
Other liabilities₹629 Cr
Borrowings₹472 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Capacit'e Infraprojects quarterly results

₹ crore	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 19 Jun	Mar 2021Filed 14 Jun	Mar 2022Filed 28 May	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 14 Jul
Revenue from operations	1,341	1,798	1,529	880	1,335	1,799	1,932	2,350	2,623
	1,137	1,546	1,272	743	1,121	1,447	1,600	1,970	2,195
Materials and goods bought	–	779	658	357	555	668	702	867	881
Employee costs	–	146	137	79	109	128	124	149	182
Other expenses	–	622	478	308	458	651	774	954	1,132
Operating profit before depreciation	204	251	257	136	213	351	331	379	427
Operating margin	15.2%	14.0%	16.8%	15.5%	16.0%	19.5%	17.2%	16.1%	16.3%
Materials, % of revenue	–	43.3%	43.0%	40.6%	41.6%	37.2%	36.3%	36.9%	33.6%
Employee costs, % of revenue	–	8.1%	9.0%	9.0%	8.2%	7.1%	6.4%	6.4%	7.0%
Other expenses, % of revenue	–	34.6%	31.2%	35.0%	34.3%	36.2%	40.1%	40.6%	43.2%
Depreciation and amortisation	67	89	114	90	99	136	101	95	99
Operating profit after depreciation	136	162	143	46	115	215	230	284	328
Other income	24	36	25	29	13	10	32	58	21
Finance costs	40	49	65	70	67	89	96	93	96
One-off items	0	0	0	0	0	0	0	0	0
Profit before tax	121	149	103	5	61	135	166	249	253
	42	52	12	3	16	41	47	61	66
Current tax	28	39	29	8	16	32	40	75	40
Deferred tax	14	13	−16	−4	0	8	7	−13	26
Share of profit of joint ventures and associates	1	0	0	0	−1	0	1	17	6
	80	97	91	2	44	95	120	204	193
Belonging to the company's shareholders	–	97	91	2	44	95	120	204	192
Belonging to outside owners of subsidiaries	–	–	–	–	–	0	0	–	2
Other comprehensive income	–	1	0	1	0	1	1	−1	−1
Total comprehensive income	–	98	91	3	44	96	121	203	192
Net margin	5.9%	5.4%	6.0%	0.2%	3.3%	5.3%	6.2%	8.7%	7.4%
Net margin without joint ventures and associates	5.9%	5.4%	6.0%	0.2%	3.4%	5.3%	6.2%	8.0%	7.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2018: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the company's periods around it state no share for other owners for the gap to belong to.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 14 May	Mar 2020Filed 19 Jun	Mar 2021Filed 14 Jun	Mar 2022Filed 28 May	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 14 Jul
	843	926	929	973	1,073	1,517	1,720	1,912
	843	926	929	973	1,073	1,517	1,719	1,909
Share capital	68	68	68	68	68	85	85	85
Reserves	775	858	861	905	1,006	1,432	1,634	1,824
Belonging to outside owners of subsidiaries	–	–	–	–	0	0	1	3
	236	277	244	331	366	326	417	472
Repayable after a year	58	94	82	137	112	124	149	129
Repayable within a year	178	184	161	193	254	202	268	343
	973	966	906	1,013	1,206	1,343	1,454	1,657
Trade payables	534	560	423	529	634	818	896	910
Other financial liabilities	61	64	75	46	61	36	37	335
Other liabilities	167	131	232	230	232	262	194	36
Provisions	22	15	2	2	5	6	9	12
Tax owed	12	12	13	13	21	18	51	21
	235	473	410	406	344	289	326	354
Other financial liabilities	42	46	31	40	132	45	54	65
Other liabilities	76	293	260	190	46	56	75	88
Provisions	1	1	2	3	2	5	1	1
Deferred tax	57	39	35	35	53	60	46	72
	2,051	2,364	2,245	2,391	2,624	3,149	3,500	3,922
Held for sale or for a demerger	–	–	–	–	–	45	65	40
	718	935	1,002	928	886	760	798	1,144
Plant in use, after depreciation	539	657	663	686	651	588	582	640
Plant being built	4	5	6	14	6	9	2	32
Intangible assets	2	1	1	1	1	1	2	2
Intangible assets being developed	–	0	0	0	0	0	0	1
Property held to earn rent	0	0	0	7	7	4	0	0
Investments	0	1	1	0	1	3	2	6
Stakes in joint ventures and associates	–	0	0	0	0	0	20	26
Loans given	0	0	0	0	0	0	0	0
Other financial assets	28	71	107	23	21	24	70	296
Deferred tax	15	21	22	32	25	1	1	0
Trade receivables	68	87	81	71	97	86	60	92
Other assets	62	91	119	94	77	43	59	49
	1,333	1,429	1,243	1,463	1,738	2,344	2,637	2,738
Inventories	91	104	100	112	99	111	110	129
Trade receivables	533	385	286	395	348	548	1,080	1,085
Cash and cash equivalents	30	108	10	22	47	19	64	91
Other bank balances	163	155	146	162	127	190	30	72
Current investments	0	0	0	0	0	0	0	0
Loans given	29	13	13	13	0	0	0	0
Other financial assets	391	561	563	643	958	99	81	1,194
Other assets	95	103	124	117	159	1,377	1,272	167
Net debt	42	14	87	147	191	116	323	308

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 14 Jun	Mar 2022Filed 28 May	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 14 Jul
	76	34	101	−39	52	223
	103	70	126	−21	94	284
	−84	−177	−288	−467	−409	−199
Receivables	−21	−147	−16	−280	−605	−105
Inventories	4	−11	13	−13	1	−19
Payables	−94	106	91	185	95	19
Other working capital	28	−124	−376	−360	100	−95
Tax paid	−10	−25	−17	−6	−42	−71
Capital spending	113	102	92	85	103	175
Free cash flow	−37	−68	9	−124	−51	48
	−121	−23	−43	−152	−9	−153
Plant and property sold	1	2	4	0	7	3
Interest received	15	10	11	12	10	9
	−53	1	−34	182	2	−43
Borrowings raised	33	108	86	96	251	184
Borrowings repaid	−33	−44	−47	−137	−161	−129
Interest paid	−67	−62	−83	−99	−84	−93
Lease payments	−4	−2	−2	−1	−3	−5
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	322	0	0
Net change in cash	−98	12	25	−10	45	27

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Capacit'e Infraprojects dividend history

₹ per share	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 19 Jun	Mar 2021Filed 14 Jun	Mar 2022Filed 28 May	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 14 Jul
Earnings per share	₹13.85	₹14.33	₹13.41	₹0.23	₹6.48	₹14.04	₹16.09	₹24.08	₹22.82
Diluted earnings per share	₹13.85	₹14.33	₹13.41	₹0.23	₹6.48	₹13.97	₹16.09	₹24.08	₹22.82
Dividend per share	₹1.00	₹1.00	–	–	–	–	–	–	–
Book value per share	–	₹124.18	₹136.38	₹136.81	₹143.31	₹158.11	₹179.30	₹203.14	₹225.62
Dividend payout	–	7.0%	–	–	–	–	–	–	–
Shareholder yield	–	–	–	0.0%	0.0%	0.0%	−14.6%	0.0%	0.0%
Market cap at the year end (₹ crore)	2,054	1,540	498	1,370	743	808	2,215	2,965	1,721

Ratios

Consolidated, years to March.Capacit'e Infraprojects PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 19 Jun	Mar 2021Filed 14 Jun	Mar 2022Filed 28 May	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 12 Jun	Mar 2026Filed 14 Jul
Revenue growth	–	34.0%	−14.9%	−42.5%	51.7%	34.7%	7.4%	21.6%	11.6%
Operating profit growth	–	23.3%	2.2%	−46.8%	56.4%	64.6%	−5.7%	14.5%	12.6%
Net profit growth	–	22.3%	−6.4%	−98.3%	2,770.7%	116.7%	26.3%	69.3%	−5.2%
Earnings per share growth	–	3.5%	−6.4%	−98.3%	2,717.4%	116.7%	14.6%	49.7%	−5.2%
	–	11.5%	10.3%	0.2%	4.6%	9.3%	9.3%	12.6%	10.6%
	–	–	−1.2 pts	−10.1 pts	4.5 pts	4.7 pts	0.0 pts	3.3 pts	−2.0 pts
From the net margin	–	–	1.2 pts	−10.0 pts	3.0 pts	2.8 pts	1.6 pts	3.6 pts	−2.0 pts
From asset turnover	–	–	−2.7 pts	−0.1 pts	1.6 pts	1.8 pts	−0.7 pts	0.7 pts	0.0 pts
From borrowing	–	–	0.3 pts	0.0 pts	−0.1 pts	0.0 pts	−0.9 pts	−1.1 pts	0.0 pts
Return on capital employed	–	15.0%	11.8%	4.0%	8.8%	15.0%	12.5%	13.3%	13.8%
Cash conversion	–	–	–	4,927.8%	78.4%	106.4%	−32.3%	25.3%	115.6%
Interest cover	3.4	3.3	2.2	0.7	1.7	2.4	2.4	3.0	3.4
Debt to equity	–	0.28	0.30	0.26	0.34	0.34	0.21	0.24	0.25
Receivable days	–	108	92	119	108	71	104	168	151
Inventory days	–	43	58	103	73	54	58	46	53
Payable days	–	250	311	432	348	346	425	377	377
Cash conversion cycle, days	–	−99	−161	−211	−166	−222	−264	−163	−173
Working capital days	–	70	92	142	126	124	188	211	176
Asset turnover	–	0.88	0.69	0.38	0.58	0.72	0.67	0.71	0.71
Assets per rupee of net worth	–	2.43	2.50	2.49	2.44	2.45	2.23	2.06	2.05
Sales per rupee of plant	–	3.34	2.33	1.33	1.95	2.76	3.29	4.04	4.10
Capital spending to depreciation	–	–	–	1.25	1.03	0.68	0.84	1.08	1.76
Plant being built, % of plant in use	–	0.8%	0.7%	0.9%	2.0%	0.9%	1.6%	0.4%	4.9%

No balance sheet is on record for the year to Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 5.2%
Cash from operations against operating profit: 52.3%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	24.4%	13.4%
Profit growth, yearly rate	–	162.7%	26.2%
Return on equity, average	–	9.3%	10.8%
Return on capital employed, average	–	12.7%	13.2%
Operating margin, average	16.3%	17.0%	16.5%
Net margin, average	5.4%	6.2%	7.4%
Asset turnover, average	–	0.68	0.69
Cash conversion cycle, days, average	–	−198	−200
Interest cover, average	2.5	2.6	3.0
Debt to equity, average	–	0.28	0.23

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	372	236	223
Cash from investing	−380	−314	−153
Cash from financing	107	140	−43
Capital spending	557	362	175
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	322	322	0
Borrowings raised	724	530	184
Borrowings repaid	518	427	129

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	6	6	8	5	6	7
Altman Z-scorePublished threshold 1.81	–	2.70	1.83	1.84	1.81	2.06	2.72	3.05	2.46
Beneish M-scorePublished threshold −1.78	–	–	–	−2.63	−2.24	−2.64	−1.81	−1.46	−2.26
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	2.02	1.40	1.47	10.79	4.84	3.31
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	1.50	0.37	0.27	0.46
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	−12.83	16.65	−13.62	−46.66	50.22	75.42	−11.14
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	29.88	42.20	−44.43	−32.09	7.67	−24.58	15.71
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	11.61	2.70	5.46	19.85	18.59	−5.24	0.30
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.02	0.06	0.11	0.06	0.24	0.03	0.20
Effective tax ratePublished threshold 17.16 per cent	34.77	34.69	11.92	63.18	26.48	30.01	28.28	24.69	25.97
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	−15.23	17.11	24.66	7.71	−2.26

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
19 May 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Rating	IVR BBB+Review, Upgrade	Stable	503.02
19 May 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Rating	IVR A2Review, Upgrade		1,689.84
19 May 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	NCD	IVR BBB+Review, Other	Stable
23 Sep 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Facilities	IVR BBBReview, Re-affirm	Stable	307.49
23 Sep 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Proposed Long Term Facilities	IVR BBBReview, Re-affirm	Stable	135
23 Sep 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term/Short Term Facilities	IVR BBB & IVR A3+Review, Re-affirm	Stable	1,153.98
23 Sep 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Facilities	IVR A3+Review, New		30
23 Sep 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Proposed Long Term / Short Term Facilities	IVR BBB & IVR A3+Review, Re-affirm	Stable	492.75

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.