Revenue and Profitability Trends
From the fiscal year ending March 2020 to March 2025, A B Infrabuild's net sales surged from ₹63.62 crores to ₹208.17 crores, reflecting a more than threefold increase. This steady growth was accompanied by a consistent rise in operating profit (PBDIT), which climbed from ₹7.34 crores in 2020 to ₹34.80 crores in 2025. The operating profit margin improved notably, reaching 15.87% in the latest fiscal year compared to 11.54% five years earlier, signalling enhanced operational efficiency.
Profit after tax (PAT) also showed a marked improvement, turning around from a loss of ₹2.23 crores in 2021 to a profit of ₹16.12 crores in 2025. The PAT margin rose correspondingly to 7.74%, underscoring the company’s ability to convert revenue into net earnings effectively. Earnings per share (EPS) followed a similar pattern, recovering from a negative ₹1.76 in 2021 to a positive ₹0.30 in 2025, reflecting improved shareholder returns despite fluctuations in equity capital.
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Cost Structure and Expenditure Analysis
The company’s raw material costs rose in line with sales, increasing from ₹51.32 crores in 2020 to ₹195.69 crores in 2025. However, the cost management appears effective as the total expenditure excluding depreciation grew at a slower pace relative to revenue, supporting margin expansion. Employee costs remained relatively stable, with a slight increase to ₹2.71 crores in 2025, indicating controlled overheads despite business growth.
Other expenses fluctuated but increased to ₹7.34 crores in 2025 from ₹2.45 crores in 2020, reflecting scaling operations. The company reported no power or selling and distribution expenses in recent years, which may suggest operational efficiencies or accounting classifications. Interest expenses rose moderately to ₹6.87 crores in 2025, consistent with increased borrowings, but the company maintained positive gross profit before depreciation and tax, indicating sound financial health.
Balance Sheet and Financial Position
A B Infrabuild’s shareholder funds expanded significantly from ₹29.08 crores in 2020 to ₹110.38 crores in 2025, driven by increased equity capital and reserves. The equity capital itself rose sharply, reflecting possible capital infusions or share issuances. Total liabilities also increased to ₹247.94 crores in 2025 from ₹111.21 crores in 2020, with notable rises in both long-term and short-term borrowings, indicating leveraged growth.
On the asset side, total assets more than doubled to ₹247.94 crores in 2025, supported by growth in current assets such as inventories and sundry debtors. Inventories increased to ₹81.11 crores, while sundry debtors rose to ₹50.23 crores, consistent with expanded operations. Cash and bank balances improved substantially to ₹33.47 crores, enhancing liquidity. The net block of fixed assets also grew, reflecting capital investments in infrastructure.
Cash Flow and Liquidity
Cash flow from operating activities showed volatility, with a negative ₹23 crores in 2025 contrasting with positive inflows in prior years. This was largely due to significant changes in working capital, which saw a sharp outflow of ₹51 crores in 2025. Investing activities consistently reflected outflows, indicative of ongoing capital expenditure. Financing activities provided strong inflows, particularly ₹50 crores in 2025, supporting the company’s expansion and liquidity needs. The net cash inflow of ₹23 crores in 2025 improved the closing cash balance to ₹33 crores, a substantial increase from ₹2 crores in 2020.
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Summary of Historical Performance
Overall, A B Infrabuild has exhibited strong growth in revenue and profitability over the last six years, recovering from a loss-making position in 2021 to consistent profits thereafter. The company’s expanding asset base and shareholder funds reflect strategic capital deployment and equity strengthening. While the increase in borrowings and working capital requirements pose some financial leverage risks, the improved cash position and operating margins suggest a positive outlook. Investors should consider these factors alongside sector dynamics when evaluating the company’s historical performance and future potential.
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