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Generic Engineering Construction and Projects Limited (GENCON) Fair Value & Analysis

Industrials · IN · Market cap ₹2.5B

GE Generic Engineering Construction and Projects Limited GENCON · NSE
Price₹39.61
Fair Value₹32.43
Upside-18.1%
Quality44/100
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Expensive Growth
Thin margins · 2.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 26/100
Evidence: High Range ₹23.51 – ₹39.18 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 3 days ago

Share price −3.4% over the past month.

Below-average quality, and screening another 18% overvalued on our models.

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What matters now

  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from ₹23.51 (bear) to ₹39.18 (bull), base ₹32.43. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹68.32 ₹23.94 Fair Value ₹32.43 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹23.94 – ₹68.32 · fair‑value band ₹23.51 – ₹39.18 · the ₹39.61 price screens above the ₹32.43 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Generic Engineering Construction and Projects Limited (GENCON) currently trades at ₹39.61, while our model-based Fair Value estimate is ₹32.43, implying the stock looks roughly 18.1% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Generic Engineering Construction and Projects Limited generated revenue of ₹3.1B at a net margin of 2.8%. Revenue grew 4.1% year over year. It earns a return on equity of 3.0%. Net debt stands at ₹585M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹23.51 (bear case) to ₹39.18 (bull case); at ₹39.61, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 9% 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 -18%, GENCON screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF ₹4.86 ₹8.39 ₹14.07 80
Residual Income ₹36.33 ₹34.52 ₹28.00 76
ROIC Compounder ₹24.50 ₹28.21 ₹31.42 72
All 25 models by family
DCF Models
FCF DCF ₹5.11 ₹7.36 ₹14.35 38
Owner Earnings ₹26.19 ₹56.88 ₹118.95 31
5Y Revenue Exit ₹27.98 ₹54.59 ₹110.85 39
5Y EBITDA Exit ₹45.52 ₹90.04 ₹177.73 41
5Y P/E Exit ₹19.50 ₹47.16 ₹85.68 38
10Y Revenue Exit ₹20.07 ₹58.42 ₹87.65 36
10Y EBITDA Exit ₹34.00 ₹95.32 ₹208.86 37
10Y P/E Exit ₹15.44 ₹40.57 ₹83.72 35
Earnings-Based
Graham-Dodd ₹10.15 ₹70.77 ₹99.32 54
Lynch FV ₹36.56 ₹52.23 ₹67.90 50
PEG = 1.0 ₹36.56 ₹52.23 ₹67.90 46
EPV ₹24.50 ₹28.21 ₹31.42 59
Dividend Discount
Gordon GGM ₹0.3200 ₹0.6500 ₹0.9800 70
DDM Multi-Stage ₹0.3200 ₹0.5600 ₹0.6800 61
Multiples
P/E Multiple ₹23.51 ₹31.34 ₹39.18 63
P/S Multiple ₹19.03 ₹25.37 ₹31.71 58
P/B Multiple ₹19.03 ₹25.37 ₹31.71 55
EV/EBIT ₹46.72 ₹61.97 ₹77.23 53
EV/EBITDA ₹59.70 ₹79.28 ₹98.86 54
EV/Revenue ₹33.62 ₹47.61 ₹61.61 43
Asset-Based
NCAV (Graham) ₹25.71 ₹34.45 ₹51.42 50
Growth DCF
Growth DCF ₹4.86 ₹8.39 ₹14.07 80
Economic Profit
Residual Income ₹36.33 ₹34.52 ₹28.00 76
ROIC Compounder ₹24.50 ₹28.21 ₹31.42 72
Growth Earnings
Growth-Adj P/E ₹47.83 ₹68.32 ₹88.82 68

Widest divergence: Growth Earnings (₹68.32) versus Dividend Discount (₹0.5600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹3.1B
Revenue growth (YoY) +4.1%
Net margin 2.8%
Return on equity 3.0%
Free cash flow ₹14.9M FY2026
P/E ratio 26.4
More key figures
Operating margin 3.6%
EPS (TTM) ₹1.50
EPS growth (YoY) -68.2%
Net debt ₹585M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 38

Profitability 24
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 89
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Generic Engineering Construction and Projects Limited engages in the construction of commercial, residential, industrial, health and leisure, and institutional buildings in India.

Full company description

Generic Engineering Construction and Projects Limited engages in the construction of commercial, residential, industrial, health and leisure, and institutional buildings in India. It focuses on general contracting, design-build, engineering, and procurement and construction work for data centers, hospitals, schools, cold storages, and other types of industrial and residential buildings. The company provides designing and engineering services for architecture, structural, electrical, mechanical, HVAC, plumbing and sewerage, fire protection, building management, and infrastructure works, as well as project management consultancy services. Generic Engineering Construction and Projects Limited was founded in 1967 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Generic Engineering Construction and Projects Limited reported revenue of ₹3.1B in FY2026 versus ₹2.6B in FY2022, a compound +4.1%/yr. Reported net income was ₹85.0M in FY2026, compounding −11.6%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹3.1B
Latest YoY
+1.1%
Avg. growth/yr (3Y) 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.
+3.9%
Avg. growth/yr (5Y) 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.
+18.5%
Avg. growth/yr (11Y) 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.
+97.0%
Revenue +4.1%/yr
FY22 ₹2.6B
FY23 ₹2.7B
FY24 ₹2.9B
FY25 ₹3.0B
FY26 ₹3.1B
Net income −11.6%/yr
FY22 ₹139M
FY23 ₹153M
FY24 ₹111M
FY25 ₹121M
FY26 ₹85.0M
Character of growth · EPS growth decomposed (2015-2026) +18.9 % p.a.
Revenue per share +21.7 pp

of which total revenue +35.7 pp · buybacks/dilution −14.0 pp

EBIT margin −1.2 pp
Tax rate −0.2 pp
Residual (interest, one-offs) −1.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

GENCON screens 18% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Generic Engineering Construction and Projects Limited Fair Value". https://www.fairvalue-calculator.com/stock/GENCON

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 44 · Below median
Fair Value upside −18% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 26.4× · Pricier than median
P/B 0.84× · Cheaper than median
P/S (TTM) 0.81× · Pricier than median
P/FCF 1.7× · Cheaper than median
EV/EBITDA 7.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 9 · sector 14
FUTURE 21 · sector 15
PAST 12 · sector 26
HEALTH 100 · sector 94
DIVIDEND 2 · sector 43

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is Generic Engineering Construction and Projects Limited (GENCON) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹32.43 versus a price of ₹39.61, about −18% (overvalued).
What is the fair value of GENCON?
Our model-based fair value for Generic Engineering Construction and Projects Limited is ₹32.43 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹39.61.
What is the quality score of GENCON?
Generic Engineering Construction and Projects Limited has a Quality Score of 44/100. 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 revenue of Generic Engineering Construction and Projects Limited (GENCON)?
Generic Engineering Construction and Projects Limited reported trailing-twelve-month revenue of about ₹3.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of GENCON?
The net profit margin of Generic Engineering Construction and Projects Limited is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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