Ducon Infratechnologies Ltd

DUCON

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Market Cap

₹ 116 Cr

P/E

8.33

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

UNDERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Ducon Infratechnologies Limited specializes in Information Technology Infrastructure and Air Pollution Control Systems, notably Flue-Gas Desulfurization (FGD).

Ducon has installed over 20,000 MW of capacity of wet FGD systems globally, showing significant expertise and reach.

The company's firsts in India include a Dual Alkali Scrubber and a Sea Water FGD system, demonstrating leadership in innovative environmental solutions.

Ducon's pneumatic conveying systems offer high efficiency in handling various materials, catering to industries like Power and Cement.

Strategically expanding through subsidiaries and demergers, Ducon exhibits a firm grasp on growth and diversification avenues.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

116 Cr

Volatility

High Risk

P/E Ratio

8.3

Industry P/E

25.9

PEG Ratio

0.1

P/B Ratio

0.7

52W High

8.45

52W Low

3.41

Sales CAGR

7.61%

26.64%

-7.87%

10Y

25.59%

Profit CAGR

77.59%

83.93%

43.16%

10Y

33.38%

ROE

TTM

7.94%

3.66%

2.26%

10Y

2.97%

ROCE

TTM

10.72%

11.70%

10.01%

10Y

10.93%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BCPL	72.50	123 Cr	17.05	1.28	1.36	7.50	8.43	2.48
MITCON	69.02	120 Cr	30.20	0.79	0.00	2.62	7.05	1.42
DUCON	3.58	116 Cr	8.33	0.67	0.00	7.94	10.72	4.54
SATTVAENGG	64.00	114 Cr	—	1.45	0.00	14.77	21.27	8.40
REFEXRENEW	237.55	112 Cr	—	0.00	0.00	56.07	4.70	-7.06
GENSOL	28.00	107 Cr	1.05	0.17	0.00	16.73	12.92	3.42
OVAL	50.00	105 Cr	11.37	1.02	0.00	11.21	13.88	5.74

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	91	109	112	107	110	111	113	119	113	114
Expenses	88	104	106	100	103	103	105	110	106	106
Operating Profit	3.16	4.69	6.66	7.47	6.79	8.24	7.53	8.90	7.23	7.76
OPM %	3.47	4.30	5.93	6.97	6.20	7.43	6.68	7.46	6.40	6.81
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	2.29	2.94	2.00	2.72	2.24	2.67	2.50	3.40	2.29	2.10
Depreciation	0.02	0.58	0.32	0.32	0.02	0.60	0.02	0.64	0.33	0.33
Profit Before Tax	0.86	1.17	4.33	4.43	4.53	4.97	5.01	4.87	4.61	5.33
Tax %	29.07	31.62	28.18	29.80	32.23	30.38	31.94	25.87	32.10	30.77
Net Profit	0.61	0.80	3.11	3.11	3.07	3.46	3.41	3.61	3.13	3.69
EPS in Rs	0.02	0.02	0.10	0.10	0.10	0.09	0.10	0.11	0.10	0.11

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	342	384	396	419	451	456
Expenses	329	368	379	398	421	424
Operating Profit	13	17	16	21	30	32
OPM %	3.68	4.30	4.09	5.07	6.59	7.00
Other Income	0.54	0.41	0.54	0.75	1.79	NaN
Interest	12	9.54	9.89	9.96	11	11
Depreciation	0.26	1.13	1.18	1.23	1.28	1.59
Profit Before Tax	0.54	6.28	5.65	11	19	19
Tax %	22.66	29.38	27.40	29.30	30.08	30.06
Net Profit	0.42	4.43	4.10	7.63	14	14
EPS in Rs	0.01	0.12	0.13	0.23	0.39	0.42
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	18	21	26	26	32
Reserves	128	130	96	94	135
Borrowings	65	82	95	103	102
Other Liabilities	64	68	59	69	33
Total Liabilities	275	300	276	292	302
Fixed Assets	0.38	6.40	5.35	4.23	3.51
CWIP	0.00	0.00	0.00	0.00	0.00
Investments	5.05	5.09	5.11	5.11	5.13
Other Assets	270	289	265	283	293
Total Assets	275	300	276	292	302

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-54	16	0.62	22	-28
Cash from Investing Activity	-0.02	-7.20	-0.13	-0.11	-0.35
Cash from Financing Activity	54	-9.02	-0.48	-12	29
Net Cash Flow	-0.04	-0.02	0.00	9.59	-0.00

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	62.55%	60.24%	60.24%	60.24%	59.66%	51.97%	51.97%	51.97%	41.62%	38.08%	38.08%	38.08%
FIIs	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.01%	0.04%	0.34%	0.31%	0.32%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	37.45%	39.76%	39.76%	39.76%	40.32%	48.01%	48.03%	47.99%	58.04%	61.61%	61.60%	61.92%
Total Shareholders	42,005	46,535	46,344	46,377	49,574	52,603	53,317	66,499	71,741	72,453	72,181	72,149

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Aug 21, 2024	Ishaan tradefin llp	Bulk	Sell	9.11	0.81 Cr	8,93,331	0.27
Aug 21, 2024	Ishaan tradefin llp	Bulk	Buy	9.46	1.41 Cr	14,93,331	0.45
Aug 21, 2024	Pratik banji dabhi	Bulk	Sell	9.20	5.98 Cr	65,00,000	2.00
Jun 10, 2024	Arun govil revised	Insider - Promoter & Director	Invoke	7.07	14.14 Cr	2,00,00,000	7.69
Jun 10, 2024	Arun govil revised	Insider - Promoter & Director	Pledge	5.37	10.73 Cr	2,00,00,000	7.69
May 09, 2024	Arun govil	Insider - Promoter	Invoke	7.07	14.14 Cr	2,00,00,000	7.69
Feb 22, 2024	Arun govil	Insider - Promoter & Director	Pledge	5.37	10.73 Cr	2,00,00,000	7.69
Jan 06, 2024	Arun govil	Insider - Promoter & Director	Disposal	9.60	1.44 Cr	15,00,000	0.57
Jan 06, 2024	Arun govil	Insider - Promoter & Director	Revoke	9.60	25.44 Cr	2,65,00,000	10.1
Dec 25, 2023	Arun govil	Insider - Promoter & Director	Pledge	10.15	28.42 Cr	2,80,00,000	10.7

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Board Meeting Outcome

1 day ago

Board Meeting Scheduled for December 19, 2025

Ducon Infratechnologies Ltd is set to hold a Board of Directors meeting on December 19, 2025, to discuss potential appointments of Directors and/or KMPs.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	91	109	112	107	110	111	113	119	113	114
Expenses	88	104	106	100	103	103	105	110	106	106
Operating Profit	3.16	4.69	6.66	7.47	6.79	8.24	7.53	8.90	7.23	7.76
OPM %	3.47	4.30	5.93	6.97	6.20	7.43	6.68	7.46	6.40	6.81
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	2.29	2.94	2.00	2.72	2.24	2.67	2.50	3.40	2.29	2.10
Depreciation	0.02	0.58	0.32	0.32	0.02	0.60	0.02	0.64	0.33	0.33
Profit Before Tax	0.86	1.17	4.33	4.43	4.53	4.97	5.01	4.87	4.61	5.33
Tax %	29.07	31.62	28.18	29.80	32.23	30.38	31.94	25.87	32.10	30.77
Net Profit	0.61	0.80	3.11	3.11	3.07	3.46	3.41	3.61	3.13	3.69
EPS in Rs	0.02	0.02	0.10	0.10	0.10	0.09	0.10	0.11	0.10	0.11

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	342	384	396	419	451	456
Expenses	329	368	379	398	421	424
Operating Profit	13	17	16	21	30	32
OPM %	3.68	4.30	4.09	5.07	6.59	7.00
Other Income	0.54	0.41	0.54	0.75	1.79	NaN
Interest	12	9.54	9.89	9.96	11	11
Depreciation	0.26	1.13	1.18	1.23	1.28	1.59
Profit Before Tax	0.54	6.28	5.65	11	19	19
Tax %	22.66	29.38	27.40	29.30	30.08	30.06
Net Profit	0.42	4.43	4.10	7.63	14	14
EPS in Rs	0.01	0.12	0.13	0.23	0.39	0.42
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	18	21	26	26	32
Reserves	128	130	96	94	135
Borrowings	65	82	95	103	102
Other Liabilities	64	68	59	69	33
Total Liabilities	275	300	276	292	302
Fixed Assets	0.38	6.40	5.35	4.23	3.51
CWIP	0.00	0.00	0.00	0.00	0.00
Investments	5.05	5.09	5.11	5.11	5.13
Other Assets	270	289	265	283	293
Total Assets	275	300	276	292	302

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-54	16	0.62	22	-28
Cash from Investing Activity	-0.02	-7.20	-0.13	-0.11	-0.35
Cash from Financing Activity	54	-9.02	-0.48	-12	29
Net Cash Flow	-0.04	-0.02	0.00	9.59	-0.00

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BCPL	72.50	123 Cr	17.05	1.28	1.36	7.50	8.43	2.48
MITCON	69.02	120 Cr	30.20	0.79	0.00	2.62	7.05	1.42
DUCON	3.58	116 Cr	8.33	0.67	0.00	7.94	10.72	4.54
SATTVAENGG	64.00	114 Cr	—	1.45	0.00	14.77	21.27	8.40
REFEXRENEW	237.55	112 Cr	—	0.00	0.00	56.07	4.70	-7.06
GENSOL	28.00	107 Cr	1.05	0.17	0.00	16.73	12.92	3.42
OVAL	50.00	105 Cr	11.37	1.02	0.00	11.21	13.88	5.74

Overview

Detailed Summary

Ducon Infratechnologies Limited specializes in Information Technology Infrastructure and Air Pollution Control Systems, notably Flue-Gas Desulfurization (FGD).

Ducon has installed over 20,000 MW of capacity of wet FGD systems globally, showing significant expertise and reach.

The company's firsts in India include a Dual Alkali Scrubber and a Sea Water FGD system, demonstrating leadership in innovative environmental solutions.

Ducon's pneumatic conveying systems offer high efficiency in handling various materials, catering to industries like Power and Cement.

Strategically expanding through subsidiaries and demergers, Ducon exhibits a firm grasp on growth and diversification avenues.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

116 Cr

Volatility

High Risk

P/E Ratio

8.3

Industry P/E

25.9

PEG Ratio

0.1

P/B Ratio

0.7

52W High

8.45

52W Low

3.41

Sales CAGR

7.61%

26.64%

-7.87%

10Y

25.59%

Profit CAGR

77.59%

83.93%

43.16%

10Y

33.38%

ROE

TTM

7.94%

3.66%

2.26%

10Y

2.97%

ROCE

TTM

10.72%

11.70%

10.01%

10Y

10.93%