Annual reportSep 2026
Sep 2026 · Shareholders meeting 5 Sep - Submitted FY26 annual report and AGM notice for September 30, 2026; proposes object clause expansion.
Source: Nse
Pratham EPC Projects Ltd. (PRATHAM)
SME CapInfra stocks · SME cap · NSE
Pratham EPC Projects Ltd. operates in EPC, within the Infra sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹106.5
-1.50 · -1.39%
Market cap ₹194 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result01 Jun, 07:57 pm IST
Score20 Oct, 05:22 pm 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
27Bearishfull bear SMA stack · SMA20 -1.5% / mo · MACD − · near 52W low · sector -2.7pp vs Nifty 500 (3M)
Stock trend: 22
Sector RS: 35
Sector 3M: -8.3% vs Nifty 500 -5.6%
Infra FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but the sector index is below its 100-session average. View sector evidence
Technical chart
PRATHAMD candles · FIT view-25.8%Latest close ₹106.50 on 2026-10-19
Bar
-4.8%
RSI
31
MACD hist
-1.73
52W pos
7%
2026-10-19O ₹111.90H ₹112.00L ₹106.00C ₹106.50Vol 5,200 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
PRATHAMNifty InfraNifty 500
- PRATHAM
- -8.9%
- Nifty 500
- -5.6%
- Nifty Infra
- -8.2%
- Vs Nifty 500
- -3.3 pp
Chart stats
19 Oct 2026- From 52W high
- -45.7%
- 52W range position
- 7%
- ATR (14)
- 3.6%
- Volume vs 20D
- 0.49x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹106 - ₹135
₹196
₹100 - ₹196
₹3.9
Latest completed session
20-session average
36.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED15
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +105.7% · PAT -80.0% YoY
Technical
Bearish27
Price trend and sector-relative-strength timing.
Valuation
Legacy model-36.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence47
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
Bad · 2/100PAT -80% YoY · margin compression · Rev +106% YoY · +6% QoQ
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹72 Cr | +105.7% | +5.9% |
| EBITDA | ₹3 Cr | NDF | -62.5% |
| Operating margin | 4.5% | NDF | -750 bps |
| PAT | ₹1 Cr | -80.0% | -80.0% |
| PAT margin | 1.4% | NDF | -596 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 31.70
- P/B
- 2.12
- EV/EBITDA
- 16.07
- Market Cap
- 194.00Cr
Profitability
- ROE
- 7.39%
- ROCE
- 10.70%
- ROA
- 2.99%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 19.00%
- Revenue 3Y
- 41.00%
- EPS 3Y
- -7.00%
Balance Sheet
- Debt/Equity
- 0.52
- Interest Coverage
- 2.40×
- Altman Z
- 2.62
- Book Value
- 49.90
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -18.00 Cr
- EPS TTM
- 3.38
Shareholding
- Promoter Hold
- 71.16%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 140+17.6% vs prev
Net Profit
₹ CrLatest: 6.0-57.1% vs prev
Return on Equity
%Latest: 6.6-64.7% vs prev
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
Bearish setupTrend is weak — long-term trend down. RSI 31.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~1.5% over last month) — short-term momentum negative.
- RSI(14) at 31 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 46% off 52W high · 7% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
17
RS percentile
Stage 4 Downtrend
1M return
-12.3%
3M return
-10.5%
6M return
-24.5%
1Y return
-37.9%
RS 1D
+3
RS 20D
-30
Sector rank
#16
Industry rank
#70
Stage evidence
- Price is 13.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.4%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
259 observations
19 Oct 2026Value 78.7-0.37%
RS vs Nifty 50079
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 15 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth13/25
Quality0/20
Balance Sheet6/15
Cash Flow0/10
Piotroski
5/9 (+3)
Penalties
-7
Raw sum
15
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
15/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 13/25 to the score.
- Balance sheet contributes 6/15 to the score.
- Valuation contributes 0/30 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Fair-value margin of safety is negative at -36.4%.
- Valuation is weaker at 0/30; 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
31.7
PB
2.1
EV/EBITDA
16.1
ROE
7.4%
ROCE
10.7%
FCF Yield
—
Debt/Equity
0.5
MoS
-36.4%
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
15
Previous: 15
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-36.4%
Previous: -36.4%
Score history
12 stored score snapshots. Latest stored move: -4 points.
20 Oct 2026
v4.3-runtime-valuation
19
19
19
19
19
19
19
19
19
19
19
15
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
₹61.6
-72.9% MoS
Growth-justified P/E
23.1
Growth-justified Value
₹78.08
-36.4% MoS
PEG
1.67
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
SSEGL
SME
Sathlokhar Synergys E&C Global Ltd.
Construction & Engineering
match 71
71
9.8
30.3%
+62%
UNDERVALUED
CURRENT
SME
Current Infraprojects Ltd.
Construction & Engineering
match 62
56
12.5
27.2%
+50%
FAIR VALUE
AVPINFRA
SME
AVP Infracon Ltd.
Construction & Engineering
match 60
70
4.1
27.7%
+84%
UNDERVALUED
AESTHETIK
SME
Aesthetik Engineers Ltd.
Construction & Engineering
match 60
49
17.3
15.1%
+29%
FAIR VALUE
GIRIRAJ
SME
Giriraj Civil Developers Ltd.
Construction & Engineering
match 58
56
7.4
10.9%
+71%
FAIR VALUE
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
Pratham EPC Projects Ltd. operates in EPC, 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
47Limited 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 4th percentile of the scored universe and 6th percentile within Infra. Main check: cash conversion is weak at 28/100.
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
4th percentile
overall median 67 · Infra: 6th pctile, median 64 · SME: 4th 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
Needs extra due diligence; demand valuation comfort and recent improvement.
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
28
weak · profit to cash conversion
Balance sheet
65
acceptable · leverage and solvency
Discipline
30
weak · capital discipline
Results
38
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 71.2%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-18 Cr.
- ▸Promoter holding fell 1.8%.
- ▸Only 1 years of positive FCF.
- ▸ROE is low at 7.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Pratham EPC Projects Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
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.