Shree Krishna Infrastructure Limited

Real Estate — Real Estate Services · BSE

₹8.74−₹0.46 (−5.00%)

DalalBaazaar Score

52 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

Moderate

Driven by negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it, with modest growth. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:02 pm

Understanding the Business

Company site ↗

The 60-second version of Shree Krishna Infrastructure Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Shree Krishna Infrastructure Limited engages in the development of residential and commercial projects in India.

IndustryReal Estate Services

SectorReal Estate

Employees4

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹271 reaches shareholders as profit, with ₹-1042 left at the operating level before interest, tax and depreciation. Each of its 4 employees supports ₹86,000 of revenue a year, the signature of a people-led business.

Revenue / employee₹86,000

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -3.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE10.3%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -95% while net margin moved +7349% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-95%

Margin effect+7349%

DalalBaazaar Score

52/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROCE of -3.2% is below 10% — capital is not working hard
✗ ROCE has fallen by 3.5 points — returns are eroding
✗ EBITDA margin of -1041.6% is thin — little cushion if costs rise
✗ The business is lossmaking at the net level

Quality vs. Valuation

Company Quality

47/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

88/ 100

Cheap

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

6.8x

3Y Median

2124.0x

40 monthly readings · mean 1889.2x · range 255.3x–4975.0x

Sector Median

30.2x

median of 3 sector peers

🟢Current valuation is approximately 100% below its 3y median of 2124.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 78% below the peer median of 30.2x.

vs. its own history

Cheap

2124.0x median over 40 months · -100%

vs. sector peers

Cheap

30.2x median of 3 peers · -78%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

—

PEG

0.12

What's Good / What's Bad

🟢 What's Going Well2

Very low debt
Debt/Equity of 0.26x leaves the balance sheet with plenty of headroom.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention1

Return on capital is falling
ROCE has declined from 0.3% to -3.2% — often a sign of competition or overexpansion.

Red Flags

3 items require attention · 2 high · 1 watch

🔴Profit up while operating cash flow fallsFinancial
Reported profit rose but cash generated by operations declined — worth checking whether earnings are being supported by non-cash items or working capital.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 1054.2 points, from 12.7% to -1041.6%.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹4 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 100% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Cheaper than its peers
It trades 78% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 12.7% to -1041.6%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
2 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -1044%✓ -1041.6%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹4 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ -3.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
4Valuation vs its own median of 2124.0x✓ 6.8x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

6 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 4 neutral · 2 weak

Market Cap

₹10 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

6.8x

Cheap

Cheap against the generic band

P/B Ratio

0.78x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹1.29

Profitable

Profitable on a per-share basis

ROE

11.8%

Moderate

Moderate capital efficiency

ROCE

-3.2%

Weak

Low return on total capital employed

Debt/Equity

0.26x

Low

Conservative leverage

Revenue Growth (YoY)

1.3%

Modest

Modest growth

Profit Growth (YoY)

170.1%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹12 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

ROA

3.7%

Average

Average asset productivity

Operating Margin

-26.5%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

93.44

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.12

Defensive

Steadier than the market

52W Range Position

19%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

8.1 / 8.6

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

78.9

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹1 Cr	₹1 Cr	₹1 Cr	₹0 Cr	-63.1%
EBITDA	₹0 Cr	₹0 Cr	₹0 Cr	-₹0 Cr	—
EBITDA Margin	12.7%	10.9%	15.1%	-1041.6%	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+55.1%
EPS	₹0.02	₹0.03	₹0.03	—	—
ROE	0.2%	0.3%	0.3%	0.8%	—
ROCE	0.3%	0.4%	0.6%	-3.2%	—
Free Cash Flow	-₹6 Cr	-₹1 Cr	₹2 Cr	-₹4 Cr	—

🔴 Revenue has shrunk at 63.1% a year over 3 years.

🔴 EBITDA has turned negative, from ₹0 Cr to -₹0 Cr.

🔴 EBITDA Margin has fallen from 12.7% to -1041.6% over 3 years (-1054.2 pts).

🟢 PAT (Net Profit) has grown at 55.1% a year over 3 years.

🟡 ROE has held roughly flat at 0.8% over 3 years.

🔴 ROCE has fallen from 0.3% to -3.2% over 3 years (-3.5 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹12 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹4 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

72.1%

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

3 mixed1 negative2 general

Shree Krishna Infrastructure Q2FY27 Results: Net profit swings to ₹16.24 lakh

scanx.trade, 15 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Top 15 Low-Price Stocks In India To Buy In October 2026

Samco, 17 Oct

Shree Krishna Infrastructure CFO Vishal Gupta resigns effective Oct 3

scanx.trade, 03 OctManagement

🔴Potentially negativeA senior departure, and an auditor's resignation especially, is worth understanding before anything else in this report.

Q2 results today: Hero Motors, Tata Elxsi, 20 others to report earnings

Business Standard, 13 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Shree Krishna Infrastructure AGM passes all resolutions with 100% support

scanx.trade, 25 Sept

Raghunath International Ltd. (RAGHUNAT) Share Price Surges 9.94% Today

Univest, 28 JulPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongFinancial Health · Valuation

MiddlingGrowth

WeakBusiness Quality · Profitability · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 2 high-severity red flags sit above this conclusion and should be read first.

2 of 4 tripwires tripped — Free cash flow remains positive; ROCE stays above 8% · see Key things to watch ↑