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Swing Capital

Anant Raj Ltd

NSE: ANANTRAJ BSE: 515055Infra

Anant Raj Ltd was incorporated in 1985 as Anant Raj Clay Products by Ashok Sarin. It is primarily engaged in the development and construction of IT parks, hospitality projects, SEZs, office complexes, shopping malls and residential projects in the State of Delhi, Haryana, Andhra Pradesh, Rajasthan and NCR. The Company has successfully developed more than 20 msf of real estate projects in the Housing, Commercial, IT Parks, Shopping Malls, Hospitality, Residential and Affordable Housing sub-segments. [1] [2]

₹473
52W: ₹403 — ₹744
PE 57 · Book ₹141 · +235% vs book
Market Cap₹17,024 Cr
Stock P/E57Price to Earnings
ROCE7.88%Return on Capital
ROE6.81%Return on Equity
Div. Yield0.15%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 71.5% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 3.34 times its book value
  • −Company has a low return on equity of 5.88% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -5.81%

Shareholding Pattern

Promoters57.41%
FIIs10.88%
DIIs4.83%
Public26.89%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.01%60.01%60.01%60.16%▲0.160.12%▼0.060.12%57.41%▼2.757.41%
FIIs13.1%13.04%▼0.113.07%▲0.012.88%▼0.210.62%▼2.310.72%▲0.111.14%▲0.410.88%▼0.3
DIIs6.51%6.69%▲0.26.71%▲0.06.57%▼0.16.22%▼0.45.82%▼0.45.2%▼0.64.83%▼0.4
Public20.36%20.26%▼0.120.21%▼0.120.38%▲0.223.04%▲2.723.32%▲0.326.26%▲2.926.89%▲0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales208235266298328337352371374394
Expenses175224223247273273283292300304
Operating Profit33114351556569797490
OPM %16%5%16%17%17%19%20%21%20%23%
Net Profit35414253586570747877
EPS ₹1.081.191.241.561.711.92.032.162.152.14

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,492Cr, up 21.4% YoY. OPM at 21%.

Debt Position

Borrowings at ₹323Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Capex Cycle

CWIP at ₹36Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 4.83% (+4.27pp change). FIIs: 10.88% (+0.24pp change). Promoters hold 57.41%.

Margin & Efficiency

ROCE improving from 4% (Mar 2015) to 8% (Mar 2026). Working capital days: 354.

Valuation

PE 57x with 7.88% ROCE. Price is 235% above book value of ₹141. Dividend yield: 0.15%.

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