Source: SEBI
What would have to hold for each case — not a price target or a projected figure. CapitSignal does not forecast where this stock trades.
Government infrastructure spending increases significantly.
The company is substantially dependent on government projects, which contributed 98.37% of revenue from operations for the nine-month period ended December 31, 2025.
The road infrastructure sector continues to expand rapidly.
India's construction market is projected to become the second largest globally by 2030, driven by investments in various construction areas.
Revenue growth follows the historical trajectory as outlined in the filing.
The revenue from operations for the nine-month period ended December 31, 2025, was ₹2,318.09 million, indicating a continuation of past performance.
Client concentration remains stable without significant losses.
The top five clients contributed 87.02% of revenue from operations for the nine-month period ended December 31, 2025.
A major client reduces or cancels contracts.
Any loss of business from, reduction in work awarded by, or disputes with one or more of our key clients may adversely affect our business.
Negative cash flows persist or worsen.
The company had negative cash flows from operating activities of ₹396.39 million in Fiscal 2025.
Contingent liabilities materialize significantly.
Any crystallisation of such liabilities may adversely affect our liquidity.