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A2Z Infra Engineering Limited (A2ZINFRA) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of A2Z Infra Engineering Limited stock ₹4.12, price ₹13.74, that is 70.0% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials IN · ISIN INE619I01012

AI A2Z Infra Engineering Limited logo Thin data Nov 10, 2026

A2Z Infra Engineering Limited

A2ZINFRA · NSE
Very expensive, weak quality

Our calculation puts a fair price 70% below what the stock costs today.

Low debt
Quality 48/100
Thin margins · 1.0% net margin (TTM)
Revenue last quarter 24% below a year ago.
Fair value ₹4.12 · Strongly overvalued
Weak Growth (revenue 5y −1.4 %/yr in INR)
Negative free cash flow
Trails peers (3/12)
Narrow moat 30/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹26.62 ₹4.05 Fair Value ₹4.12 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ₹4.05 – ₹26.62 · fair‑value band ₹3.14 – ₹5.23 · the ₹13.74 price screens above the ₹4.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

A2Z Infra Engineering Limited offers engineering, procurement, and construction (EPC) and facility management services in India and internationally. The company operates through the Engineering Services (ES), Facility Management Services, Municipal Solid Waste Management, and Others segments.

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It provides EPC solutions, including distribution, transmissions, substation, feeder renovation, rural and railway electrification, IT application, renewable energy generation, and telecom EPC services; facility management services comprising technical, front office management, vendor management, and facilities management consulting services; facility management home services, such as professional pest control, upholstery shampooing, electric professionals, AC service and repair, plumbing professionals, professional carpenters, honing and polishing of floor, and painter services; and municipal solid waste management services.

The company also develops the Ecotech green and Bus Shelter-cum-green toilet; bricks made from municipal solid wastes under the Magic Brick name; and a bicycle under the E-Hiran name. In addition, it engages in renewable energy generation.

The company was formerly known as A2Z Maintenance & Engineering Services Limited and changed its name to A2Z Infra Engineering Limited in October 2014. A2Z Infra Engineering Limited was incorporated in 2002 and is based in Gurugram, India.

Stock analysis

A2Z Infra Engineering Limited (A2ZINFRA) currently trades at ₹13.74, while our model-based Fair Value estimate is ₹4.12, 70% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ₹4.12 per share, and 0 of the 11 models we run sit above the ₹13.74 price.

Bear case: the Asset-Based group reads lowest at ₹0.5100, and 11 of the 11 models stay below the price. Data coverage for this calculation is low.

Scenario range: ₹3.14 (bear) to ₹5.23 (bull), the price of ₹13.74 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 48/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

A2Z Infra Engineering Limited reported revenue of ₹3.9B in FY2026 versus ₹3.5B in FY2022, a compound +2.3%/yr. Reported net income was ₹43.7M in FY2026.

Key figures

Market cap ₹2.4B (≈ $25.4M) Micro · P/E ratio 65.4 · P/S ratio 0.65 · EPS (TTM) ₹0.2100 · Net margin 1.0% · Return on equity 17.9% · Return on assets (EBIT) −6.0% (5-year average) · Operating margin −0.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).

What moves the price

The share trades about 27% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −70%, A2ZINFRA screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (₹0.5100 to ₹5.17). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹3.14 Fair Value ₹4.12 Bull ₹5.23
Price ₹13.74 · Downside -70.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.1295 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner Earnings ₹3.19 ₹4.12 ₹5.70 77
EPV ₹1.05 ₹1.17 ₹1.27 74
ROIC Compounder ₹1.05 ₹1.17 ₹1.27 72
All 11 models by family
DCF Models
Owner Earnings ₹3.19 ₹4.12 ₹5.70 77
Earnings-Based
Graham-Dodd ₹1.68 ₹2.05 ₹2.30 67
EPV ₹1.05 ₹1.17 ₹1.27 74
Multiples
P/E Multiple ₹3.88 ₹5.17 ₹6.47 63
P/S Multiple ₹3.14 ₹4.19 ₹5.23 58
P/B Multiple ₹2.59 ₹3.45 ₹4.31 55
EV/EBITDA n/a ₹1.11 ₹2.70 62
Asset-Based
NCAV (Graham) ₹0.3800 ₹0.5100 ₹0.7700 54
Economic Profit
Residual Income ₹2.28 ₹2.45 ₹2.70 71
ROIC Compounder ₹1.05 ₹1.17 ₹1.27 72
Growth Earnings
Growth-Adj P/E ₹2.74 ₹3.91 ₹5.09 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 48/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 48
How much profit the company makes from its sales and capital
Quality Growth 67
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 2
Debt, balance sheet and risk of trouble
Investment 85
Does it invest with discipline instead of growing at any price?
Low Volatility 63
How calm the share price moves, does not count
Price momentum 15
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 15
Distance to the 52-week high, does not count
New shares 100
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 26/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+14.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.4%
Start year 2021 (pandemic). Over 10 years: −11.8% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−9.0% (2021) → 1.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

A2ZINFRA screens overvalued: fair value 70% below the price. Compare with Quanta Services, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 823 stocks

Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −70.0% · Bottom 25%
Profitability
Return on equity (12 months) 17.9% · Top 25%
Return on assets 1.0% · Below median
Net margin (12 months) 1.0% · Below median
Operating margin (12 months) −0.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −24.4% · Bottom 25%
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/E (12 months) 65.4× · Priciest 25%
P/B 4.81× · Priciest 25%
P/S (12 months) 0.65× · Cheaper than median
EV/EBITDA 88.0× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 29
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)71 · sector 25
HEALTH (low debt)99 · sector 94
DIVIDEND (yield)0 · sector 42

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China State Construction Engineering Corporation 601668 ¥4.65 ¥13.95 +200% vs A2ZINFRA
Vinci SA DG €114.75 €186.68 +63% vs A2ZINFRA
Comfort Systems USA, Inc FIX $1,106 $1,122 +1% vs A2ZINFRA
EMCOR Group EME $645.39 $524.14 −19% vs A2ZINFRA
ACS, Actividades de Construcción y Servicios, S.A ACS €90.15 €62.21 −31% vs A2ZINFRA
Samsung C&T Corporation 028260 279,000 KRW 159,702 KRW −43% vs A2ZINFRA
HOCHTIEF Aktiengesellschaft HOT €366.00 €203.86 −44% vs A2ZINFRA
Larsen & Toubro Limited LT ₹4,185 ₹2,302 −45% vs A2ZINFRA
Ferrovial N.V FER $60.99 $23.22 −62% vs A2ZINFRA
Quanta Services, Inc PWR $583.14 $162.41 −72% vs A2ZINFRA

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A2Z Infra Engineering Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "A2Z Infra Engineering Limited Fair Value". https://www.fairvalue-calculator.com/stock/A2ZINFRA

Frequently asked questions

Is A2Z Infra Engineering Limited (A2ZINFRA) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of ₹4.12 versus a price of ₹13.74, about 70% lower (overvalued).
What is the fair value of A2ZINFRA?
Our model-based fair value for A2Z Infra Engineering Limited is ₹4.12 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹13.74.
What is the quality score of A2ZINFRA?
A2Z Infra Engineering Limited has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for A2Z Infra Engineering Limited (A2ZINFRA)?
Our model-based price target is the fair value of ₹4.12 (as of Nov 10, 2026) from 11 valuation models. Cautious scenario ₹3.14, optimistic scenario ₹5.23. It is a calculation from audited fundamentals, not an analyst target.
What is the A2Z Infra Engineering Limited stock forecast for 2026?
Our models put fair value at ₹4.12, about 70% lower versus a price of ₹13.74 (overvalued). Cautious scenario ₹3.14, optimistic scenario ₹5.23. The calculation is refreshed regularly with new filings.
What is the revenue of A2Z Infra Engineering Limited (A2ZINFRA)?
A2Z Infra Engineering Limited reported trailing-twelve-month revenue of about ₹3.6B (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of A2Z Infra Engineering Limited (A2ZINFRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For A2Z Infra Engineering Limited it is ₹4.12 per share (as of Nov 10, 2026), against a price of ₹13.74. It is the blended result of 11 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is A2Z Infra Engineering Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, A2ZINFRA trades above its calculated fair value: price ₹13.74, fair value ₹4.12, a gap of about −70% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of A2ZINFRA?
No. The price is what the market pays today (₹13.74); the fair value is what the company's own numbers justify (₹4.12). For A2Z Infra Engineering Limited the two are ₹9.62 per share apart. That gap is exactly why we show both numbers side by side.
How much is A2Z Infra Engineering Limited worth?
The market values A2Z Infra Engineering Limited at about ₹2.4B (market capitalisation, as of Nov 10, 2026). Per share that is ₹13.74; our models calculate a fair value of ₹4.12 per share.
What do the bullish and bearish scenarios say about A2ZINFRA?
Our models span a range for A2Z Infra Engineering Limited: cautious scenario ₹3.14, base ₹4.12, optimistic ₹5.23 per share (as of Nov 10, 2026, price ₹13.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A2ZINFRA?
A2Z Infra Engineering Limited trades at a price-to-earnings ratio of 65.4 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹4.12 is built from several models across several years. Other multiples: P/B 4.8, P/S 0.7, EV/EBITDA 88.0.
How solid is the balance sheet of A2Z Infra Engineering Limited (A2ZINFRA)?
Balance-sheet figures for A2Z Infra Engineering Limited (as of Nov 10, 2026): return on equity 17.9%, debt of 0.02 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is A2ZINFRA from its 52-week high?
A2Z Infra Engineering Limited trades at ₹13.74, about 27% below its 52-week high of ₹18.81 and 14% above the low of ₹12.06 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.12 is for.
Which stocks are comparable to A2Z Infra Engineering Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is A2Z Infra Engineering Limited stock attractive at the current price?
The data as of Nov 10, 2026: price ₹13.74, calculated fair value ₹4.12 (−70%), Quality Score 48/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of A2ZINFRA calculated?
We run A2Z Infra Engineering Limited through 11 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹4.12 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. A2Z Infra Engineering Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of A2Z Infra Engineering Limited (A2ZINFRA)?
The closing price on Nov 9, 2026 was ₹13.74. Our model-based fair value is ₹4.12, about 70% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with A2Z Infra Engineering Limited right now?
The price sits above even our optimistic bull case (₹5.23). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of A2Z Infra Engineering Limited

How large is the market capitalisation of A2Z Infra Engineering Limited (A2ZINFRA)?
The market capitalisation of A2Z Infra Engineering Limited is ₹2.4B (≈ $25.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of A2Z Infra Engineering Limited (A2ZINFRA)?
The price-to-sales ratio of A2Z Infra Engineering Limited is 0.65 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of A2Z Infra Engineering Limited (A2ZINFRA)?
Earnings per share at A2Z Infra Engineering Limited are ₹0.2100 (price ÷ EPS = P/E 65.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of A2Z Infra Engineering Limited (A2ZINFRA)?
The net margin of A2Z Infra Engineering Limited is 1.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of A2Z Infra Engineering Limited (A2ZINFRA)?
The return on equity (ROE) of A2Z Infra Engineering Limited is 17.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of A2Z Infra Engineering Limited (A2ZINFRA)?
On an EBIT basis the return on assets of A2Z Infra Engineering Limited is −6.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of A2Z Infra Engineering Limited (A2ZINFRA)?
The operating margin of A2Z Infra Engineering Limited is −0.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at A2Z Infra Engineering Limited (A2ZINFRA)?
Revenue at A2Z Infra Engineering Limited is growing −24.4% versus a year earlier (3y avg +3.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at A2Z Infra Engineering Limited (A2ZINFRA)?
Earnings per share at A2Z Infra Engineering Limited are growing −75.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does A2Z Infra Engineering Limited (A2ZINFRA) generate?
The free cash flow of A2Z Infra Engineering Limited is −₹183M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does A2Z Infra Engineering Limited (A2ZINFRA) carry?
The net debt of A2Z Infra Engineering Limited is ₹931M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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