Overview

Detailed Summary

Ganesh Infraworld Ltd. is an Indian EPC and construction company focused on civil, electrical, water infrastructure and mining services, delivering end-to-end project execution across industrial, civic utilities, water treatment and newly scaled mining operations, primarily operating out of Eastern India and expanding pan-India since inception in 2017.
Q3 FY26 performance demonstrates strong execution: Revenue of ₹215.3 crore (+44.3% YoY) and PAT of ₹19.0 crore (+67.9% YoY), with 9M FY26 revenue at ₹606.0 crore (+59.6% YoY) and PAT of ₹51.7 crore (+81.9% YoY), reflecting margin expansion (EBITDA 13.6%) and improving profitability.
The company’s order book of ₹2,211.7 crore (Dec'25) provides multi-quarter visibility and a materially different business scale versus a year prior, driven by a 6.7x increase in water infrastructure orders and the addition of a large ₹708 crore mining order, shifting its segmental mix.
Ganesh Infraworld has strategically repositioned toward water infrastructure and mining with a new 51% SPV (Trivanta Resources) and selective large contract wins, while maintaining a conservative balance sheet with Debt/Equity of 0.49x as of Dec'25 to support execution needs.
Repeat business from marquee clients such as L&T, Powergrid, NBCC and municipal programmes (Har Ghar Jal) combined with strengthened engineering capability underpins the company’s competitive edge in project delivery and positions it to capture government-led water and mining investments.

Sector: Infrastructure Developers & Operators
Industry: Construction - Civil / Turnkey - Medium / Small
Market Cap: 311 Cr
Volatility: High Risk
P/E Ratio: 4.7
Industry P/E: 18.6
PEG Ratio: 0.0
P/B Ratio: 1.5
52W High: 279.80
52W Low: 71.65

Sales CAGR

1Y: 954.30%
3Y: —
5Y: —
10Y: —

Profit CAGR

1Y: 913.92%
3Y: —
5Y: —
10Y: —

ROE

TTM: 26.21%
3Y: —
5Y: —
10Y: —

ROCE

TTM: 27.19%
3Y: —
5Y: —
10Y: —

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DBEIL	72.70	341 Cr	9.32	0.81	0.00	11.09	12.67	4.17
IL&FSENGG	25.88	339 Cr	-235.27	0.00	0.00	0.92	21.14	-0.13
RBMINFRA	320.25	324 Cr	31.75	2.30	0.00	27.51	31.52	10.99
GANESHIN	72.80	311 Cr	4.70	1.47	0.00	26.21	27.19	15.07
ATALREAL	23.14	293 Cr	50.26	3.30	0.00	4.63	7.80	4.05
GIRIRAJ	121.35	290 Cr	28.69	2.21	0.00	15.67	19.42	8.19
GLOBECIVIL	45.55	271 Cr	8.25	1.20	0.00	0.00	0.00	5.19

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2024	Dec 2024	Jun 2025	Sep 2025	Dec 2025
Sales	95	149	181	210	215
Expenses	86	133	160	184	186
Operating Profit	9.49	16	21	26	29
OPM %	9.99	10.67	11.42	12.25	13.57
Other Income	0.34	0.22	0.65	0.69	1.01
Interest	0.40	0.66	0.91	1.41	3.34
Depreciation	0.33	0.33	0.84	0.86	1.01
Profit Before Tax	9.10	15	20	24	26
Tax %	22.42	25.25	25.14	25.22	26.43
Net Profit	7.06	11	15	18	19
EPS in Rs	—	2.65	3.42	4.23	4.46

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025	TTM
Sales	51	538	584
Expenses	45	486	523
Operating Profit	5.60	52	60
OPM %	10.98	9.73	10.30
Other Income	0.22	4.34	3.81
Interest	0.13	1.91	2.59
Depreciation	0.08	1.41	1.93
Profit Before Tax	5.62	53	59
Tax %	29.14	24.96	24.85
Net Profit	3.98	40	45
EPS in Rs	—	—	15.48
Dividend Payout %	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Equity Capital	11	21
Reserves	27	158
Borrowings	31	38
Other Liabilities	35	47
Total Liabilities	103	265
Fixed Assets	13	20
CWIP	0.00	0.00
Investments	19	36
Other Assets	72	209
Total Assets	103	265

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Cash from Operating Activity	-10	-80
Cash from Investing Activity	-16	-25
Cash from Financing Activity	27	109
Net Cash Flow	0.30	4.56

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Aug 2024	Nov 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	81.84%	81.84%	59.09%	59.09%	59.38%	59.38%	59.38%
FIIs	0.00%	0.00%	2.24%	0.55%	0.77%	0.98%	0.68%
DIIs	18.16%	18.16%	10.26%	5.82%	5.10%	2.45%	2.35%
Public	0.00%	0.00%	28.41%	34.54%	34.75%	37.19%	37.59%
Total Shareholders	85	86	3,461	1,646	1,431	1,690	1,872

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Projection

Documents

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Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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