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Ramky Infrastructure Limited
(RAMKY)
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Rating:59Neutral
Price Target:
₹315.00
▼(-15.06% Downside)
Action:Reiterated
Date:10/29/26
The score is held back mainly by financial risk signals—especially the sharp deterioration to negative operating and free cash flow in 2026—despite a meaningfully improved balance sheet and solid reported profitability. Technicals are also weak on a medium-to-long-term basis, while the low P/E provides a meaningful valuation offset.
Positive Factors
Balance Sheet De-risking
Material deleveraging and a larger equity base have substantially strengthened financial resilience. Lower leverage should improve flexibility to fund infrastructure projects, absorb execution variability, and manage obligations through the next several quarters.
Negative Factors
Negative Cash Generation
The sharp reversal to negative operating and free cash flow creates a meaningful cash-conversion risk even while accounting profit remains positive. Persistent weakness could increase reliance on working-capital funding and constrain project investment or debt reduction.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet De-risking
Material deleveraging and a larger equity base have substantially strengthened financial resilience. Lower leverage should improve flexibility to fund infrastructure projects, absorb execution variability, and manage obligations through the next several quarters.
Read all positive factors
Ramky Infrastructure Limited (RAMKY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹21.54B
Dividend Yield0.32%
Average Volume (3M)11.16K
Price to Earnings (P/E)9.1
Beta (1Y)1.69
Revenue Growth4.52%
EPS Growth15.49%
CountryIN
Employees1,041
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)34.11
Shares Outstanding69,197,790
10 Day Avg. Volume26,129
30 Day Avg. Volume11,158
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)1.36
Price to Sales (P/S)1.59
P/FCF Ratio-8.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ramky Infrastructure Limited Business Overview & Revenue Model
Company Description
Ramky Infrastructure Limited, along with its associated entities, delivers extensive services in construction, infrastructure creation, and management, predominantly within India. The company operates through two main divisions: Construction Busin...
How the Company Makes Money
RAMKY primarily makes money by executing infrastructure and construction contracts awarded by government bodies and public-sector entities, and potentially by private-sector clients, under EPC and item-rate/percentage-rate contracting models. Reve...
Ramky Infrastructure Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.11B | 18.46B | 20.45B | 21.61B | 17.05B | 14.59B |
| Gross Profit | 4.32B | 3.65B | 4.60B | 6.01B | 3.95B | 11.95B |
| EBITDA | 4.48B | 2.30B | 5.02B | 6.70B | 17.94B | 5.27B |
| Net Income | 2.36B | 2.71B | 1.97B | 3.08B | 11.41B | 236.21M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 41.24B | 41.90B | 42.62B | 46.51B | 45.55B |
| Cash, Cash Equivalents and Short-Term Investments | 2.67B | 1.49B | 2.02B | 846.70M | 7.98B | 2.73B |
| Total Debt | 0.00 | 5.91B | 5.70B | 8.34B | 16.50B | 21.24B |
| Total Liabilities | -21.58B | 19.66B | 21.21B | 23.98B | 31.03B | 41.54B |
| Stockholders Equity | 21.58B | 21.62B | 19.04B | 17.12B | 14.12B | 2.76B |
Cash Flow | ||||||
| Free Cash Flow | 1.14B | -3.50B | 2.27B | 2.60B | 24.72B | 1.80B |
| Operating Cash Flow | 1.62B | -3.13B | 3.73B | 3.70B | 26.11B | 2.78B |
| Investing Cash Flow | 217.83M | 3.74B | -109.63M | -719.43M | -2.15B | -853.74M |
| Financing Cash Flow | -234.19M | 208.85M | -3.80B | -10.11B | -16.50B | -3.27B |
Ramky Infrastructure Limited Technical Analysis
Neutral
370.85
Price Trends
313.94
Negative
356.69
Negative
415.60
Negative
Market Momentum
-9.18
Negative
60.02
Neutral
68.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RAMKY, the sentiment is Neutral. The current price of 370.85 is above the 20-day moving average (MA) of 271.95, above the 50-day MA of 313.94, and below the 200-day MA of 415.60, indicating a neutral trend. The MACD of -9.18 indicates Negative momentum. The RSI at 60.02 is Neutral, neither overbought nor oversold. The STOCH value of 68.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:RAMKY.
Ramky Infrastructure Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹31.11B | 8.16 | ― | 0.97% | -2.47% | -6.60% | |
67 Neutral | ₹34.29B | 5.45 | ― | 0.45% | 1.82% | -21.49% | |
59 Neutral | ₹21.54B | 9.07 | ― | 0.32% | 4.52% | 15.49% | |
59 Neutral | ₹28.40B | 7.18 | ― | 0.25% | -37.51% | -58.59% | |
56 Neutral | ₹27.79B | 1.12 | ― | 0.65% | -24.59% | 39.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹25.24B | 13.57 | ― | 0.52% | -3.14% | -57.80% |
* General Sector Average
IN:RAMKY
Ramky Infrastructure Limited
307.20
-326.82
-51.55%
IN:ASHOKA
Ashoka Buildcon Limited
96.40
-109.30
-53.14%
IN:HGINFRA
H.G. Infra Engineering Ltd.
378.55
-540.48
-58.81%
IN:JKIL
J. Kumar Infraprojects Limited
404.90
-252.53
-38.41%
IN:KNRCON
KNR Constructions Limited
98.60
-82.29
-45.49%
IN:PNCINFRA
PNC Infratech Ltd
124.25
-155.14
-55.53%
Ramky Infrastructure Limited Corporate Events
Ramky Infrastructure Wins ₹588-Crore EPC Township Project From RVNL
Oct 24, 2026
Ramky Infrastructure Limited has signed a contract agreement with Rail Vikas Nigam Limited to construct a major residential and commercial complex within the existing NMDC township at Bacheli in Chhattisgarh on an EPC basis. The project, valued at...
Ramky Infrastructure Sets AGM Date and Final Dividend for FY 2025-26
Sep 4, 2026
Ramky Infrastructure Limited has released its Annual Report for the financial year 2025-26 and circulated the notice for its 32nd Annual General Meeting, scheduled for September 26, 2026, to be held via video conferencing and other audio-visual me...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.