Annual reportSep 2026
Sep 2026 · Outcome of Board Meeting 11 Aug - Board approved FY26 annual report, AGM on 11 Sept 2026, director reappointments, remuneration, and borrowing limits.
Source: Nse
Manav Infra Projects Ltd. (MANAV)
SME CapInfra stocks · SME cap · NSE
Manav Infra Projects Ltd. operates in Infrastructure, within the Infra sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹38.75
+0.00 · +0.00%
Market cap ₹51 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result24 May, 12:50 am IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.4 (n=87)
Technical timing lens
Trend score and candlestick chart
46NeutralSMA20 -8.9% / mo · MACD + · sector -2.2pp vs Nifty 500 (3M)
Stock trend: 52
Sector RS: 38
Sector 3M: -7.9% vs Nifty 500 -5.6%
Infra FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MANAVD candles · FIT view-4.9%Latest close ₹38.75 on 2026-10-05
Bar
+0.0%
RSI
66
MACD hist
1.44
52W pos
71%
2026-10-05O ₹38.75H ₹38.75L ₹38.75C ₹38.75Vol 4,000 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MANAVNifty InfraNifty 500
- MANAV
- +17.2%
- Nifty 500
- -5.9%
- Nifty Infra
- -7.8%
- Vs Nifty 500
- +23.2 pp
Chart stats
5 Oct 2026- From 52W high
- -17.6%
- 52W range position
- 75%
- ATR (14)
- 3.6%
- Volume vs 20D
- 0.53x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹22.8 - ₹40.8
₹47
₹14.5 - ₹47
₹1.4
Latest completed session
20-session average
40.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED68
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good72
Revenue +265.1% · PAT +237.4% YoY
Technical
Neutral46
Price trend and sector-relative-strength timing.
Valuation
Legacy model+45.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Good · 72/100Rev +265% YoY · PAT +237% YoY · +241% QoQ · margin compression
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹32.1 Cr | +265.1% | +240.7% |
| EBITDA | ₹5.5 Cr | NDF | +374.1% |
| Operating margin | 17.1% | NDF | +482 bps |
| PAT | ₹3.6 Cr | +237.4% | +780.5% |
| PAT margin | 11.2% | NDF | +689 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.50
- P/B
- 4.21
- EV/EBITDA
- 6.97
- Market Cap
- 51.00Cr
Profitability
- ROE
- 40.30%
- ROCE
- 33.50%
- ROA
- 16.81%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 52.00%
- EPS 5Y
- 22.00%
- Revenue 3Y
- 52.00%
- EPS 3Y
- 97.00%
Balance Sheet
- Debt/Equity
- 0.47
- Interest Coverage
- 7.46×
- Altman Z
- 5.36
- Book Value
- 9.22
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 1.18 Cr
- EPS TTM
- 3.06
Shareholding
- Promoter Hold
- 68.84%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 71%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 32.1+240.7% vs prev
Net Profit
₹ CrLatest: 3.6+780.5% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 66.
- SMA20 falling (~9.8% over last month) — short-term momentum negative.
- RSI(14) at 66 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 18% off 52W high · 107% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 68 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 68 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · UNDERVALUEDValuation17/30
Growth22/25
Quality20/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
-8
Raw sum
68
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
68/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 45.2%.
- Quality contributes 20/20 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
12.5
PB
4.2
EV/EBITDA
7.0
ROE
40.3%
ROCE
33.5%
FCF Yield
—
Debt/Equity
0.5
MoS
+45.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
68
Previous: 68
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+45.2%
Previous: +45.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
11
11
11
11
11
11
11
11
11
68
68
68
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹25.2
-53.8% MoS
Growth-justified P/E
23.1
Growth-justified Value
₹70.69
+45.2% MoS
PEG
0.36
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
K2INFRA
SME
K2 Infragen Ltd.
Construction & Engineering
match 93
56
4.0
16.0%
+84%
FAIR VALUE
RILINFRA
SME
Rachana Infrastructure Ltd.
Construction & Engineering
match 92
73
5.7
10.1%
+75%
UNDERVALUED
VLINFRA
SME
V.L.Infraprojects Ltd.
Construction & Engineering
match 91
67
4.5
18.3%
+81%
UNDERVALUED
MAYASHEEL
SME
Mayasheel Ventures Ltd.
Construction & Engineering
match 89
78
4.4
35.4%
+73%
DEEP VALUE
TGL
SME
Teerth Gopicon Ltd.
Construction & Engineering
match 87
64
—
27.0%
+95%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Manav Infra Projects Ltd. operates in Infrastructure, within the Infra sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 31 Mar 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
76Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 81st percentile of the scored universe and 85th percentile within Infra. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Infra: 85th pctile, median 64 · SME: 96th pctile, median 64
Evidence depth
Financial-only
0 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
80
strong · capital discipline
Results
65
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 68.8%.
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
- ▸ROCE is 33.5%.
Trust risks
- ▸Promoter holding fell 4.3%.
- ▸ROCE trend is -4.4%.
- ▸OPM spread across recent quarters is 46.6%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Manav Infra Projects Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Outcome of Board Meeting 11 Aug - Board approved FY26 annual report, AGM on 11 September 2026, and director reappointments.
Source: Nse
Annual reportAug 2026
Aug 2026 · General Updates 4 Aug - Board meeting on 11 August 2026 to approve AGM notice, annual report, reappointments and remuneration.
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.