IRCON share price today

Ircon International Ltd's share price was ₹103.28 at the close on 4 November 2026. It has been falling for 63 weeks. That is 21.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹97 and ₹179, and at that close it sat 8% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ircon International Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 23 weeks running.

Over the last 8.1 years the share price moved +149% while the NIFTY 500 moved +142%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 17 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

One change stood out: revenue grew again in the June 2026 quarter.

1. Revenue grew again in the June 2026 quarter

   Revenue was ₹1,956 crore, +9.5% on a year earlier (₹1,786 crore), after 8 quarters of decline.

IRCON paid ₹1.90 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 1.84% at the ₹103.28 close on 4 November 2026. The last was a dividend of ₹0.70 a share, ex-date 17 September 2026.

IRCON dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Ircon International Ltd paid out 30% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

For April to June 2026 (the quarter ended 30 June 2026), IRCON reported revenue of ₹1,956 crore, up 9.5% from ₹1,786 crore a year earlier, and a profit of ₹92.0 crore, down 43.9% from ₹164 crore.

IRCON results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

IRCON's management discussed these results on a call held on 30 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

IRCON closed at ₹103.28 on 4 November 2026, down 36.9% from ₹163.60 a year earlier (7 November 2025) and up 116.5% over five years. Its highest weekly close since September 2018 was ₹336.80 on 12 July 2024.

IRCON share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

429 weekly closes from 28 September 2018 to 4 November 2026.

4 Nov 2026: IRCON closed at ₹103.28, up 6.9% on the week and down 6.3% on the month. 30 Sep 2026: IRCON held its results call for April to June 2026. Management guided: Current-year turnover flat versus last year; next year slightly better, current-year orders planned near turnover, and medium-term growth expected.

Earlier

• 17 Sep 2026: ex-date for a dividend of ₹0.70 a share.
• Results for April to June 2026: Revenue up 9.5% and profit down 43.9% on a year earlier.
• 17 Feb 2026: ex-date for an interim dividend of ₹1.20 a share.

On the call for April to June 2026, held on 30 September 2026, IRCON's management guided: Current-year turnover flat versus last year; next year slightly better, current-year orders planned near turnover, and medium-term growth expected.

“We will not bid merely for the sake of bidding.”Ragini Advani, Director Finance, on the call for April to June 2026

What management guided

• Profit margin approximately 6-7%.
• Further profit margin decline limited to 25-50 basis points.
• negative operating cash flow expected for at least another year, with positive operating cash flow perhaps in 1-2 years.
• HAM projects to become operational next financial year; JCRL completion and CRL-1 break-even also planned next financial year.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 September 2026.

When IRCON reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: Order wins and exchange announcements - check whether current opportunities convert into awards after the aggressive-bidding push.

IRCON is on 2 of our India lists: 52 week high & low and Dividend stocks.

Ircon International Ltd earned ₹92.0 Cr of net profit in the Jun 2026 quarter, −43.9% on the same quarter a year earlier. Full-year FY26 profit was ₹592 Cr. Over 10 years profit has grown 4.2% a year on average. That is 4.7% of the quarter's revenue. The same quarter a year earlier earned ₹164 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹592 Cr (−18.7% on the year before).

Why profit moved: revenue changed +9.5% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −17.8% and revenue −8.8%. Profit is growing slower than sales: rising costs are taking part of the growth.

Ircon International Ltd reported ₹1,956 Cr of revenue in the Jun 2026 quarter, +9.5% on the same quarter a year earlier. Over 10 years it has grown 13.8% a year on average. The last full year, FY26, came in at ₹9,071 Cr. The last four reported quarters add to ₹9,241 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹9,071 Cr, −15.7% on the year before.

Recent pace: the last four quarters grew −8.8% on average, against 13.8% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −9.9%, against −12.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −22.2%, against −26.7% a year (accelerating).

Ircon International Ltd's operating margin was 10.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 7.0% and 24.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.4 percentage points on the year while gross margin changed −0.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years Ircon International Ltd's operations used more cash than they brought in, so cash conversion was −80%, a gap worth watching. In FY26 its operations used ₹618 Cr of cash, against ₹592 Cr of profit. After ₹853 Cr of spending on assets, free cash was −₹1,471 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −80% of profit came in as cash: the cash cycle got 109 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 7.0× depreciation over three years. The next section checks what that spending is building.

Ircon International Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −468 days in FY26, down from −359 days in FY21. It spent ₹2,656 Cr on assets over the last 3 years. Customers take 56 days to pay, and stock sits for 6 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹9,071 Cr, each day of that cycle ties up about ₹24.9 Cr, so roughly −₹11,631 Cr is tied up in the business at any time.

FY26: customers took 56 days to pay and stock sat for 6 days, about 0.2 months of sales sitting as stock, for a full cycle of −468 days, shorter than FY21's −359.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 6 days. Customers pay about 56 days after that. Suppliers are paid at 530 days. Together that makes the −468-day cycle.

Spending on assets: ₹2,656 Cr over the last 3 years, against ₹381 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹595 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ircon International Ltd's P/E is 18.6×, in the middle of its own history: higher than 68% of past readings. Its usual P/E (the middle reading) is 10.8×, over 8.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −18.1% while the price moved −36.9%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved +16.7% a year; about +3.3% a year came from earnings growth and about +13.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Ircon International Ltd's business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −9.9% in the latest quarter, against +32.6% at its best in 12 quarters, with ROCE steady at 8.1%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Ircon International Ltd earned a ROCE of 9% in FY26. Its return on capital used (ROIC) is 5.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 6.5% net margin and 0.43× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 6.5% net margin × 0.43× asset turnover × 3.21× leverage (assets divided by equity) ≈ 9.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 6.3% − 12.0% = −5.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 6.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 7.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.