AFCONS INFRASTRUCTURE LTD (AFCONS) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of AFCONS INFRASTRUCTURE LTD ₹109, price ₹253, upside -57.0%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
23‑month range ₹252.50 – ₹538.53 · fair‑value band ₹99.43 – ₹141.24 · the ₹252.50 price screens above the ₹108.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Afcons Infrastructure Limited, together with its subsidiaries, engages in infrastructure, engineering, and construction businesses in India and internationally. The company undertakes marine works, highways, bridges, metro works, power houses, tunnels, oil and gas, liquified natural gas tanks, and other general civil engineering projects.
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Afcons Infrastructure Limited, together with its subsidiaries, engages in infrastructure, engineering, and construction businesses in India and internationally. The company undertakes marine works, highways, bridges, metro works, power houses, tunnels, oil and gas, liquified natural gas tanks, and other general civil engineering projects. It also constructs ports and harbour jetties, dry docks, wet basins, breakwaters, outfall and intake structures, and material handling systems; roads, interchanges, mining-related infrastructure railways; and dams and barrages, and water and irrigation projects, as well as tunnels, such as road tunnels and underground works. The company also undertakes elevated and underground metro, flyovers, and elevated corridor works; and onshore and offshore oil and gas projects. Afcons Infrastructure Limited was formerly known as Asia Foundations and Constructions Limited and changed its name to Afcons Infrastructure Limited in August 1996. The company was founded in 1959 and is based in Mumbai, India.
Stock analysis
AFCONS INFRASTRUCTURE LTD (AFCONS) currently trades at ₹252.50, while our model-based Fair Value estimate is ₹108.65, implying the stock looks roughly 132.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹254.29 per share, and 4 of the 15 models we run sit above the ₹252.50 price.
Bear case: the Dividend Discount group reads lowest at ₹20.94, and 11 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹99.43 (bear) to ₹141.24 (bull), the price of ₹252.50 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 31/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
AFCONS INFRASTRUCTURE LTD reported revenue of ₹119B in FY2026 versus ₹109B in FY2022, a compound +2.2%/yr. Reported net income was ₹2.5B in FY2026, compounding −8.3%/yr from FY2022.
Key figures
Market cap ₹117B (≈ $1.2B) · P/E ratio 37.0 · P/S ratio 0.78 · EPS (TTM) ₹6.83 · Dividend yield 0.8% · Net margin 2.1% · Return on equity 4.7% · Return on assets (EBIT) 5.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 45% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −57%, AFCONS screens richer than that median.
Fair Value models
Bear ₹99.43Fair Value ₹108.65Bull ₹141.24
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.38 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.Evidence ⓘEvidence = 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.
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.15/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−4.4%
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.
−1.6%
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.3%
Dividend (yield on the price)0.8%
Profit margin 2022 to 2026 ⓘ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.6% → 6%
Compare AFCONS INFRASTRUCTURE LTD with another stock
Price, fair value, quality and upside side by side.
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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 · 831 stocks
Beats the industry median on 1/13 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−57.0% · Bottom 25%
Profitability
Return on equity (TTM)4.7% · Below median
Return on assets2.6% · Above median
Net margin (TTM)2.1% · Below median
Operating margin (TTM)−2.2% · Bottom 25%
Growth and dividend
Revenue growth−18.9% · Bottom 25%
Dividend yield (TTM)0.8% · Below median
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)37.0× · Priciest 25%
P/B2.15× · Pricier than median
P/S (TTM)0.98× · Pricier than median
EV/EBITDA9.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 28
FUTURE (revenue growth)0· sector 12
PAST (return on equity)19· sector 27
HEALTH (low debt)92· sector 94
DIVIDEND (yield)16· sector 41
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is AFCONS INFRASTRUCTURE LTD (AFCONS) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹108.65 versus a price of ₹252.50, about −57% upside (overvalued).
What is the fair value of AFCONS?
Our model-based fair value for AFCONS INFRASTRUCTURE LTD is ₹108.65 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹252.50.
What is the quality score of AFCONS?
AFCONS INFRASTRUCTURE LTD has a Quality Score of 31/100. 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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
Our model-based price target is the fair value of ₹108.65 (as of Sep 27, 2026) from 15 valuation models. Cautious scenario ₹99.43, optimistic scenario ₹141.24. It is a calculation from audited fundamentals, not an analyst target.
What is the AFCONS INFRASTRUCTURE LTD stock forecast for 2026?
Our models put fair value at ₹108.65, about −57% upside versus a price of ₹252.50 (overvalued). Cautious scenario ₹99.43, optimistic scenario ₹141.24. The calculation is refreshed regularly with new filings.
What is the revenue of AFCONS INFRASTRUCTURE LTD (AFCONS)?
AFCONS INFRASTRUCTURE LTD reported trailing-twelve-month revenue of about ₹119B (latest available figure, as of Sep 27, 2026).
Does AFCONS INFRASTRUCTURE LTD pay a dividend?
AFCONS INFRASTRUCTURE LTD currently shows a dividend yield of about 0.79% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of AFCONS INFRASTRUCTURE LTD (AFCONS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AFCONS INFRASTRUCTURE LTD it is ₹108.65 per share (as of Sep 27, 2026), against a price of ₹252.50. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is AFCONS INFRASTRUCTURE LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, AFCONS trades above its calculated fair value: price ₹252.50, fair value ₹108.65, a gap of about −57% (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 AFCONS?
No. The price is what the market pays today (₹252.50); the fair value is what the company's own numbers justify (₹108.65). For AFCONS INFRASTRUCTURE LTD the two are ₹143.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is AFCONS INFRASTRUCTURE LTD worth?
The market values AFCONS INFRASTRUCTURE LTD at about ₹117B (market capitalisation, as of Sep 27, 2026). Per share that is ₹252.50; our models calculate a fair value of ₹108.65 per share.
What do the bullish and bearish scenarios say about AFCONS?
Our models span a range for AFCONS INFRASTRUCTURE LTD: cautious scenario ₹99.43, base ₹108.65, optimistic ₹141.24 per share (as of Sep 27, 2026, price ₹252.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AFCONS?
AFCONS INFRASTRUCTURE LTD trades at a price-to-earnings ratio of 37.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹108.65 is built from several models across several years. Other multiples: P/B 2.2, P/S 1.0, EV/EBITDA 9.7.
How solid is the balance sheet of AFCONS INFRASTRUCTURE LTD (AFCONS)?
Balance-sheet figures for AFCONS INFRASTRUCTURE LTD (as of Sep 27, 2026): return on equity 4.7%, debt of 0.17 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is AFCONS from its 52-week high?
AFCONS INFRASTRUCTURE LTD trades at ₹252.50, about 45% below its 52-week high of ₹462.49 and at the low of ₹252.50 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹108.65 is for.
Which stocks are comparable to AFCONS INFRASTRUCTURE LTD?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 AFCONS INFRASTRUCTURE LTD stock attractive at the current price?
The data as of Sep 27, 2026: price ₹252.50, calculated fair value ₹108.65 (−57%), Quality Score 31/100, from 15 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 AFCONS calculated?
We run AFCONS INFRASTRUCTURE LTD through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹108.65, 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 16.2 % above its aggregate fair value. AFCONS INFRASTRUCTURE LTD 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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
The closing price on Sep 25, 2026 was ₹252.50. Our model-based fair value is ₹108.65, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AFCONS INFRASTRUCTURE LTD right now?
The price sits above even our optimistic bull case (₹141.24). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of AFCONS INFRASTRUCTURE LTD
How large is the market capitalisation of AFCONS INFRASTRUCTURE LTD (AFCONS)?
The market capitalisation of AFCONS INFRASTRUCTURE LTD is ₹117B (≈ $1.2B). 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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
The price-to-sales ratio of AFCONS INFRASTRUCTURE LTD is 0.78 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AFCONS INFRASTRUCTURE LTD (AFCONS)?
Earnings per share at AFCONS INFRASTRUCTURE LTD are ₹6.83 (price ÷ EPS = P/E 37.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AFCONS INFRASTRUCTURE LTD (AFCONS)?
The dividend yield of AFCONS INFRASTRUCTURE LTD is 0.8% (payout 29.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AFCONS INFRASTRUCTURE LTD (AFCONS)?
The net margin of AFCONS INFRASTRUCTURE LTD is 2.1% (fiscal year 2026). 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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
The return on equity (ROE) of AFCONS INFRASTRUCTURE LTD is 4.7% (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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
On an EBIT basis the return on assets of AFCONS INFRASTRUCTURE LTD is 5.5% (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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
The operating margin of AFCONS INFRASTRUCTURE LTD is −2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AFCONS INFRASTRUCTURE LTD (AFCONS)?
Revenue at AFCONS INFRASTRUCTURE LTD is growing −18.9% versus a year earlier (3y avg −1.6%). 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 AFCONS INFRASTRUCTURE LTD (AFCONS)?
Earnings per share at AFCONS INFRASTRUCTURE LTD are growing −35.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does AFCONS INFRASTRUCTURE LTD (AFCONS) generate?
The free cash flow of AFCONS INFRASTRUCTURE LTD is −₹10.5B (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 AFCONS INFRASTRUCTURE LTD (AFCONS) carry?
The net debt of AFCONS INFRASTRUCTURE LTD is ₹27.4B (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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