Manav Infra (MANAV)

Score breakdown: P/E: 2/3 · ROCE: 2/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• Sales growth of 48.50% and profit growth of 95.24% show strong momentum.
• ROCE of 39.91% indicates efficient capital use in a capital-intensive construction business.
• Piotroski F-Score of 7/9 suggests sound fundamentals on available metrics.
• Promoter holding of 68.84% aligns management with minority shareholders.
• PEG ratio of 0.24 implies valuation is inexpensive if growth is sustainable.

Concerns

• Latest quarter shows net profit of ₹0 crore, a red flag against the headline profit growth.
• Critical financial data missing: book value, debt/equity, and ROE are unavailable, limiting a Graham-style margin of safety assessment.
• Zero dividend yield means all returns must come from price appreciation, adding risk.
• Civil construction is cyclical and small-cap, with possible execution and working capital risks near the 52-week high of ₹47.

AI Analysis

At 42.10, Manav Infra is a small-cap civil construction play with a market cap of just ₹59 crore. I like the headline numbers: sales grew 48.5% and profit grew 95.24%, and at a P/E of 17.32, the PEG ratio of 0.24 suggests the market is not paying full freight for that growth. ROCE of 39.91% is excellent, far above what most construction firms earn, and the Piotroski F-score of 7/9 implies decent financial health if the underlying data is reliable. Promoter holding of 68.84% aligns owners and shareholders, though it also means low floating stock and possible liquidity risk. But I cannot ignore the latest quarter: sales of ₹9 crore and net profit of ₹0 crore. That is a red flag for earnings quality. A company cannot show 95% profit growth and yet earn nothing in the most recent quarter. Either the historical numbers are not repeating, or the business is lumpy and the latest quarter is a trough. Civil construction is inherently cyclical, and small players in India face working capital traps, execution risk, and project concentration. Dividend yield is zero, so the investor depends entirely on growth capital gains. Mr. Graham would say: the data is too incomplete. No book value, no debt-to-equity, no ROE. At ₹42, near the 52-week high of ₹47, we are being asked to pay 17 times earnings for a company we cannot fully appraise. If the growth is real and the zero-profit quarter is an outlier, the upside is meaningful. But I would need more data, especially on debt and order book, before committing capital. I will keep it on my watchlist, not in my portfolio.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer