IRCON

IRCON International Ltd. — Stock Analysis

As of October 2026

Company Overview: IRCON International Ltd. is a Government of India-owned infrastructure company specializing in railway construction, electrification and engineering projects.

Profit & Loss: In FY2025–26, consolidated revenue declined to approximately ₹9,071 crore from ₹10,760 crore in FY2024–25. Net profit fell to ₹592 crore from ₹728 crore, indicating weakening profitability.

Balance Sheet: Net worth increased to approximately ₹6,630 crore in FY2025–26 from ₹6,237 crore in the previous financial year. Investors should monitor borrowings, working capital and operating cash flow.

Debt-to-Equity Ratio: According to Research , the ratio increased from 0.68 times in FY2024–25 to 0.85 times in FY2025–26, indicating higher leverage under its calculation.

Technical Analysis: Indicative simple moving averages (SMA) are ₹106.09 (5-day),
₹105.97 (10-day),
₹107.16 (20-day),
₹115.56 (50-day),
₹124.18 (100-day)
and ₹136.38 (200-day).
Trading below these averages suggests a bearish trend.
A move below ₹101 may indicate further weakness,
while a sustained move above ₹115 could signal improving momentum.

Support and Resistance:
Support lies around ₹101–103,
while resistance is ₹107–108 and ₹110–112.
A break below ₹101 may open the possibility of additional downside, whereas a move above ₹115 may strengthen the bullish outlook.

Shareholding: Government ownership was previously reported at 65.17%. (The author also holds some shares of IRCON, which may represent a potential conflict of interest)

Conclusion: IRCON offers infrastructure-sector growth potential, but declining profits and weak technical indicators warrant caution. Monitor earnings, cash flow and order execution before investing.

Disclaimer: This analysis is provided for informational and educational purposes only and should not be considered investment, financial or trading advice. The author holds some shares of IRCON, which may create a potential conflict of interest. The figures, technical indicators and other information may be based on publicly available sources and may change over time. Investors should conduct their own research, verify the latest company disclosures and consult a qualified financial adviser before making any investment decision. Investing in securities involves market risks, including the possible loss of capital.