Engineering - Construction · Founded 1994 · www.vaghanitechnobuild.com · BSE 531676 · · ISIN INE554H01021
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Business
Emrock Corporation Ltd. is an Indian company operating in the Engineering - Construction sector. Its core business involves undertaking and executing various construction and engineering projects. This typically includes civil construction, infrastructure development, and potentially specialized engineering works. The company's business model is project-based, earning revenue by securing contracts from government bodies, public sector undertakings, and private clients, and then successfully executing these projects within agreed timelines and budgets.
Revenue Mix
Specific segment breakdown for Emrock Corporation Ltd. is not provided. However, within the broader Engineering - Construction industry in India, companies often operate across various sub-segments such as:
Infrastructure (roads, bridges, railways, ports, airports)
Buildings (residential, commercial, institutional)
Water & Environment (water supply, sewage treatment)
Power (generation, transmission, distribution)
Industrial projects (factories, plants)
Without specific data, it is not possible to detail Emrock's revenue mix across these or other potential segments.
Industry
The Indian Engineering - Construction industry is highly competitive, fragmented, and cyclical, heavily influenced by government infrastructure spending, industrial capital expenditure, and real estate development. The industry typically involves numerous players ranging from large conglomerates to small regional contractors. Emrock Corporation Ltd. operates within this dynamic landscape in India. Its positioning relative to peers would depend on its project specialization, regional focus, client relationships, order book size, execution capabilities, and financial strength, none of which are detailed in the provided information.
MOAT
Without specific information about Emrock Corporation Ltd., it is difficult to definitively assess its competitive advantages. In the Engineering - Construction sector, potential moats can include:
Scale and Financial Strength: Ability to bid for and execute large, complex projects.
Specialized Expertise: Niche capabilities in complex engineering or specific types of infrastructure.
Strong Client Relationships & Track Record: A history of successful project delivery leading to repeat business.
Efficient Project Management: Superior ability to control costs and timelines.
Given the highly competitive nature of the industry, establishing a strong, durable moat is challenging, and typically requires a combination of these factors demonstrated over a long period.
Growth Drivers
Key factors that can drive growth for Emrock Corporation Ltd. over the next 3-5 years include:
Government Infrastructure Push: Continued focus and increased allocation by the Indian government towards infrastructure development (e.g., National Infrastructure Pipeline, Gati Shakti).
Urbanization and Smart City Initiatives: Growing demand for urban infrastructure, housing, and commercial spaces.
Industrial Capital Expenditure: Revival in private sector investment and manufacturing growth.
Regulatory Support: Government policies aimed at easing project approvals and funding mechanisms.
Access to Capital: Ability to secure financing for working capital and project execution.
Risks
Emrock Corporation Ltd., operating in the Engineering - Construction sector, faces several key risks:
Project Execution Risks: Potential for cost overruns, project delays, and quality issues.
Intense Competition: Pressure on profit margins due to aggressive bidding from numerous players.
High Working Capital Requirements: Need for significant upfront capital and potential for payment delays from clients.
Economic Cyclicality: Sensitivity to economic downturns, interest rate fluctuations, and changes in government spending priorities.
Regulatory & Environmental Hurdles: Delays or increased costs due to land acquisition issues, environmental clearances, and changing regulations.
Commodity Price Volatility: Exposure to fluctuations in prices of raw materials like steel, cement, and fuel.
Skilled Labor Shortages: Difficulty in attracting and retaining qualified personnel.
Management & Ownership
Details regarding Emrock Corporation Ltd.'s promoters, specific management team, and ownership structure are not provided. In India, many engineering and construction companies are promoted and largely controlled by founding families. The quality of management (experience, strategic vision, governance practices) and the ownership structure (promoter holding, institutional vs. public float) are crucial factors for assessing a company but cannot be analyzed without further information.
Outlook
Emrock Corporation Ltd. operates in the vibrant yet challenging Indian Engineering - Construction sector. The outlook for the sector generally remains positive, driven by strong government impetus on infrastructure development and a potential rebound in private sector investment. For Emrock, this translates into opportunities for project acquisition and revenue growth. However, the company will need to navigate intense competition, manage execution risks effectively, and maintain strong financial discipline to capitalize on these opportunities. Its future performance will largely depend on its ability to consistently win new projects, execute them efficiently within budget and timelines, manage working capital, and adapt to evolving regulatory and market conditions.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0 | 0 | 0 | 0 | 0.3 | 0.2 | 0.5 | 0.2 | 0.3 | 0.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 8 | 8 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Total Income | 0 | 8 | 8 | 2 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 3 |
| Total Expenditure | 0 | 7 | 8 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 |
| Operating Profit | -0 | 1 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | 1 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Provision for Tax | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | 1 | -0 | 0 | -0 | -0 | -0 | 0 | 0 | -0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | 1 | -0 | 0 | -0 | -0 | -0 | 0 | 0 | -0 | 0 | 0 |
| Adjusted Earnings Per Share | -0.5 | 1.6 | -0 | 0.9 | -0.3 | -0 | -0 | 0.1 | 0.1 | -0.2 | 0.3 | 1.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 210% | 169% | 95% | 33% |
| ROE Average | 2% | 1% | 0% | 1% |
| ROCE Average | 3% | 2% | 2% | 2% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Total Current Liabilities | 2 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Liabilities | 8 | 8 | 6 | 8 | 7 | 7 | 7 | 6 | 7 | 7 | 8 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Current Assets | 8 | 8 | 6 | 8 | 7 | 5 | 5 | 5 | 5 | 5 | 6 |
| Total Assets | 8 | 8 | 6 | 8 | 7 | 7 | 7 | 6 | 7 | 7 | 8 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -0 | 1 | 0 | 1 | -1 | 2 | -0 | -0 | -0 | -0 | -1 |
| Cash Flow from Investing Activities | 0 | 1 | 0 | 0 | 0 | -2 | 0 | 0 | 0 | 0 | -0 |
| Cash Flow from Financing Activities | 0 | -2 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 1 |
| Net Cash Inflow / Outflow | -0 | -0 | 0 | 1 | -1 | 0 | -0 | -0 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.54 | 1.63 | -0 | 0.89 | -0.27 | -0.05 | -0.01 | 0.1 | 0.11 | -0.19 | 0.33 |
| CEPS(Rs) | -0.54 | 1.63 | -0 | 0.89 | -0.27 | -0.05 | -0.01 | 0.1 | 0.11 | -0.19 | 0.33 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 12.37 | 14 | 13.14 | 14.03 | 13.76 | 13.71 | 13.7 | 13.8 | 13.92 | 13.72 | 14.05 |
| Core EBITDA Margin(%) | 0 | 11.03 | 1.68 | 26.17 | -3445 | 0 | 0 | 0 | 0 | 0 | 11.54 |
| EBIT Margin(%) | 0 | 11.31 | 1.68 | 26.17 | -3435 | 0 | 0 | 0 | 0 | 0 | 46.22 |
| Pre Tax Margin(%) | 0 | 11.31 | 0.89 | 26.06 | -4630 | 0 | 0 | 0 | 0 | 0 | 46.22 |
| PAT Margin (%) | 0 | 11.31 | -0.03 | 26.06 | -3460 | 0 | 0 | 0 | 0 | 0 | 34 |
| Cash Profit Margin (%) | 0 | 11.31 | -0.03 | 26.06 | -3460 | 0 | 0 | 0 | 0 | 0 | 34.12 |
| ROA(%) | -3.4 | 10.48 | -0.04 | 6.47 | -1.85 | -0.37 | -0.08 | 0.77 | 0.91 | -1.53 | 2.37 |
| ROE(%) | -4.28 | 12.37 | -0.04 | 6.54 | -1.91 | -0.36 | -0.08 | 0.72 | 0.82 | -1.4 | 2.35 |
| ROCE(%) | -1.04 | 11.05 | 1.94 | 6.57 | -1.85 | -0.08 | 1.14 | 1.22 | 1.09 | 1.27 | 3.01 |
| Receivable days | 0 | 139.18 | 106.32 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 394.2 |
| Inventory Days | 0 | 271.07 | 200.78 | 924.3 | 0 | 0 | 0 | 0 | 0 | 0 | 3287.41 |
| Payable days | 0 | 8.66 | 6.67 | 136.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 7.31 | 0 | 5.23 | 0 | 0 | 0 | 95.14 | 82.49 | 0 | 67.39 |
| Price/Book(x) | 1.04 | 0.85 | 0.48 | 0.33 | 0 | 0.75 | 0.71 | 0.68 | 0.68 | 0.96 | 1.56 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0.82 | 0.39 | 0.93 | 1392.48 | 0 | 0 | 0 | 0 | 0 | 24.57 |
| EV/Core EBITDA(x) | -97.82 | 7.25 | 23.47 | 3.54 | -40.54 | -939.15 | 63 | 55.19 | 62.06 | 75.04 | 53.03 |
| Net Sales Growth(%) | -100 | 0 | 8.61 | -78.25 | -99.78 | -100 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | -125.68 | 1104.83 | -83.86 | 238.65 | -129.52 | 95.85 | 1545.61 | 7.52 | -10.72 | 15.93 | 152.02 |
| PAT Growth(%) | -188.18 | 401.34 | -100.3 | 0 | -129.86 | 81.58 | 78.82 | 1053.7 | 15.73 | -269.8 | 267.98 |
| EPS Growth(%) | -188.17 | 401.35 | -100.3 | 0 | -129.86 | 81.58 | 78.92 | 1058.25 | 15.7 | -269.79 | 267.97 |
| Debt/Equity(x) | 0.26 | 0 | 0 | 0 | 0.05 | 0.01 | 0.02 | 0 | 0 | 0 | 0.12 |
| Current Ratio(x) | 4.27 | 12.47 | 29.16 | 6.51 | 11.09 | 17.16 | 10.11 | 124.28 | 70.87 | 336.62 | 5.71 |
| Quick Ratio(x) | 0.72 | 5 | 8.91 | 2.77 | 4.05 | 0.46 | 0.21 | 2.89 | 3.22 | 10.3 | 1.08 |
| Interest Cover(x) | -26.33 | 0 | 2.14 | 232.75 | -2.87 | -0.2 | 16.16 | 6.15 | 0 | 0 | 0 |
| Total Debt/Mcap(x) | 0.25 | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0 | 0 | 0 | 0.08 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 71.24 | 67.24 | 35.21 | 73.87 | 73.87 | 73.87 | 73.87 | 74.63 | 74.63 | 74.63 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 28.76 | 32.76 | 64.79 | 26.13 | 26.13 | 26.13 | 26.13 | 25.37 | 25.37 | 25.37 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.37 | 0.35 | 0.18 | 0.39 | 0.39 | 0.39 | 0.39 | 1.18 | 1.18 | 1.18 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.15 | 0.17 | 0.34 | 0.14 | 0.14 | 0.14 | 0.14 | 0.4 | 0.4 | 0.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 1.58 | 1.58 | 1.58 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +210% | +169% | +95% | +33% |
| ROE Average | +2% | +1% | 0% | +1% |
| ROCE Average | +3% | +2% | +2% | +2% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 71.24 | 67.24 | 35.21 | 73.87 | 73.87 | 73.87 | 73.87 | 74.63 | 74.63 | 74.63 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 28.76 | 32.76 | 64.79 | 26.13 | 26.13 | 26.13 | 26.13 | 25.37 | 25.37 | 25.37 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.37 | 0.35 | 0.18 | 0.39 | 0.39 | 0.39 | 0.39 | 1.18 | 1.18 | 1.18 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.15 | 0.17 | 0.34 | 0.14 | 0.14 | 0.14 | 0.14 | 0.4 | 0.4 | 0.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 1.58 | 1.58 | 1.58 |
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