Dilip Buildcon Limited (DBL) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Dilip Buildcon Limited ₹940, price ₹412, upside +128.0%, quality 28 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
60‑month range ₹161.41 – ₹722.02 · fair‑value band ₹705.13 – ₹1,229 · the ₹412.45 price screens below the ₹940.18 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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Dilip Buildcon Limited, together its subsidiaries, engages in the development of infrastructure facilities on engineering, procurement, and construction (EPC) basis in India. The company operates through Engineering, Procurement and Construction (EPC) Projects & Road Infrastructure Maintenance, and Annuity Projects & Others segments.
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Dilip Buildcon Limited, together its subsidiaries, engages in the development of infrastructure facilities on engineering, procurement, and construction (EPC) basis in India. The company operates through Engineering, Procurement and Construction (EPC) Projects & Road Infrastructure Maintenance, and Annuity Projects & Others segments. It is involved in roads, highway, bridges, tunnels, irrigation, mining excavation, water supply, metros, airport, and urban infrastructure, as well as canals, dams, metro rail viaducts development related business. In addition, the company engages in road infrastructure maintenance and toll operations; and undertakes contract from various government and other parties and special purpose vehicles. Dilip Buildcon Limited was founded in 1987 and is headquartered in Bhopal, India.
Stock analysis
Dilip Buildcon Limited (DBL) currently trades at ₹412.45, while our model-based Fair Value estimate is ₹940.18, implying the stock looks roughly 56.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,530 per share, and 13 of the 16 models we run sit above the ₹412.45 price.
Bear case: the Asset-Based group reads lowest at ₹281.66, and 3 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹705.13 (bear) to ₹1,229 (bull), the price of ₹412.45 sits below 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 28/100 (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.
Dilip Buildcon Limited reported revenue of ₹89.8B in FY2026 versus ₹91.9B in FY2022, a compound −0.6%/yr. Reported net income was ₹13.0B in FY2026.
Key figures
Market cap ₹74.0B (≈ $772M) · P/E ratio 4.8 · P/S ratio 0.69 · EPS (TTM) ₹86.10 · Dividend yield 0.2% · Net margin 14.5% · Return on equity 22.9% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic.
The share trades about 22% below its 52-week high and 7% above 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 128%, DBL screens cheaper than that median.
Fair Value models
Bear ₹705.13Fair Value ₹940.18Bull ₹1,229
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 (₹41.97 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.20/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−20.6%
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.
−4.6%
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.
−1.0%
Start year 2021 (pandemic). Over 10 years: +8.1% a year
Revenue growth 16 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.
+25.7%
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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+2.9%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.30.4% vs 17.7%, picking up
Profit margin 2021 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.13% → 16%
Start year 2021 (pandemic)
⚠ Rate on operating basis: 2026 sits 568% above its own trend.
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 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside+127.9% · Top 25%
Profitability
Return on equity (TTM)22.9% · Top 25%
Return on assets4.8% · Above median
Net margin (TTM)14.5% · Top 25%
Operating margin (TTM)14.1% · Top 25%
Growth and dividend
Revenue growth−25.7% · Bottom 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.82× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is Dilip Buildcon Limited (DBL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹940.18 versus a price of ₹412.45, about +128% upside (undervalued).
What is the fair value of DBL?
Our model-based fair value for Dilip Buildcon Limited is ₹940.18 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹412.45.
What is the quality score of DBL?
Dilip Buildcon Limited has a Quality Score of 28/100. 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 Dilip Buildcon Limited (DBL)?
Our model-based price target is the fair value of ₹940.18 (as of Sep 27, 2026) from 16 valuation models. Cautious scenario ₹705.13, optimistic scenario ₹1,229. It is a calculation from audited fundamentals, not an analyst target.
What is the Dilip Buildcon Limited stock forecast for 2026?
Our models put fair value at ₹940.18, about +128% upside versus a price of ₹412.45 (undervalued). Cautious scenario ₹705.13, optimistic scenario ₹1,229. The calculation is refreshed regularly with new filings.
What is the revenue of Dilip Buildcon Limited (DBL)?
Dilip Buildcon Limited reported trailing-twelve-month revenue of about ₹89.8B (latest available figure, as of Sep 27, 2026).
Does Dilip Buildcon Limited pay a dividend?
Dilip Buildcon Limited currently shows a dividend yield of about 0.24% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Dilip Buildcon Limited (DBL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dilip Buildcon Limited it is ₹940.18 per share (as of Sep 27, 2026), against a price of ₹412.45. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Dilip Buildcon Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, DBL trades below its calculated fair value: price ₹412.45, fair value ₹940.18, a gap of about +128% (undervalued). 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 DBL?
No. The price is what the market pays today (₹412.45); the fair value is what the company's own numbers justify (₹940.18). For Dilip Buildcon Limited the two are ₹527.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dilip Buildcon Limited worth?
The market values Dilip Buildcon Limited at about ₹74.0B (market capitalisation, as of Sep 27, 2026). Per share that is ₹412.45; our models calculate a fair value of ₹940.18 per share.
What do the bullish and bearish scenarios say about DBL?
Our models span a range for Dilip Buildcon Limited: cautious scenario ₹705.13, base ₹940.18, optimistic ₹1,229 per share (as of Sep 27, 2026, price ₹412.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DBL?
Dilip Buildcon Limited trades at a price-to-earnings ratio of 4.8 (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 ₹940.18 is built from several models across several years. Other multiples: P/B 1.1, P/S 0.8, EV/EBITDA 7.2.
How solid is the balance sheet of Dilip Buildcon Limited (DBL)?
Balance-sheet figures for Dilip Buildcon Limited (as of Sep 27, 2026): return on equity 22.9%, debt of 0.82 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is DBL from its 52-week high?
Dilip Buildcon Limited trades at ₹412.45, about 22% below its 52-week high of ₹531.00 and 7% above the low of ₹386.15 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹940.18 is for.
Which stocks are comparable to Dilip Buildcon Limited?
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 Dilip Buildcon Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹412.45, calculated fair value ₹940.18 (+128%), Quality Score 28/100, from 16 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 DBL calculated?
We run Dilip Buildcon Limited through 16 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 ₹940.18, 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 13.9 % above its aggregate fair value. Dilip Buildcon Limited currently trades 128 % below its own fair value, and the market average says nothing about that. 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 Dilip Buildcon Limited (DBL)?
The closing price on Sep 25, 2026 was ₹412.45. Our model-based fair value is ₹940.18, about +128% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dilip Buildcon Limited right now?
The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (₹705.13). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Dilip Buildcon Limited (DBL) come from?
Earnings per share at Dilip Buildcon Limited grew +13.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.9 %, EBIT margin +1.1 %, tax rate −0.7 %, residual (interest, one-offs) +1.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Dilip Buildcon Limited
How large is the market capitalisation of Dilip Buildcon Limited (DBL)?
The market capitalisation of Dilip Buildcon Limited is ₹74.0B (≈ $772M). 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 Dilip Buildcon Limited (DBL)?
The price-to-sales ratio of Dilip Buildcon Limited is 0.69 (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 Dilip Buildcon Limited (DBL)?
Earnings per share at Dilip Buildcon Limited are ₹86.10 (price ÷ EPS = P/E 4.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dilip Buildcon Limited (DBL)?
The dividend yield of Dilip Buildcon Limited is 0.2% (payout 1.2%). 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 Dilip Buildcon Limited (DBL)?
The net margin of Dilip Buildcon Limited is 14.5% (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 Dilip Buildcon Limited (DBL)?
The return on equity (ROE) of Dilip Buildcon Limited is 22.9% (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 Dilip Buildcon Limited (DBL)?
On an EBIT basis the return on assets of Dilip Buildcon Limited is 7.4% (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 Dilip Buildcon Limited (DBL)?
The operating margin of Dilip Buildcon Limited is 14.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dilip Buildcon Limited (DBL)?
Revenue at Dilip Buildcon Limited is growing −25.7% versus a year earlier (3y avg −4.6%). 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 Dilip Buildcon Limited (DBL)?
Earnings per share at Dilip Buildcon Limited are growing −72.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Dilip Buildcon Limited (DBL) generate?
The free cash flow of Dilip Buildcon Limited is −₹33.0B (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 Dilip Buildcon Limited (DBL) carry?
The net debt of Dilip Buildcon Limited is ₹77.1B (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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