Udayshivakumar Infra Ltd (USK)
🎯 Key Takeaways
- Udayshivakumar Infra Ltd is navigating a turnaround phase marked by intermittent profitability after sustained losses, with financial performance showing volatility in revenue and margins. The company operates in infrastructure development, but recent filings indicate a strategic pivot toward liquor business expansion, creating a hybrid profile with exposure to both sectors.
- Revenue declined 3.7% QoQ to ₹46 in Q1FY27.
- ⚠️ Significant revenue decline year-on-year despite profitability, indicating vulnerability to project execution or market demand shifts.
- Market Cap
- ₹106
- P/E Ratio
- 8.8
- P/B Ratio
- 0.62
- ROE
- 7.0%
- ROCE
- 8.8%
- Debt/Equity
- 0.45
- Promoter
- 67.3%
📖 The Story
Udayshivakumar Infra Ltd is navigating a turnaround phase marked by intermittent profitability after sustained losses, with financial performance showing volatility in revenue and margins. The company operates in infrastructure development, but recent filings indicate a strategic pivot toward liquor business expansion, creating a hybrid profile with exposure to both sectors. Profitability remains fragile and sensitive to cost structure, as evidenced by sharp revenue declines despite recent net profit recovery.
📰 What's Happening
In Q1 FY2027 (June 2026), the company returned to profitability with a net profit of ₹2 lakhs, reversing a ₹772.83 lakh loss in the same quarter last year, though revenue fell sharply to ₹464.63 Cr from ₹2,113.26 lakhs YoY. The Q4 FY2026 results (March 2026) showed strong quarterly performance with ₹4,804.71 Lakhs revenue and ₹1,335.47 Lakhs net profit, supported by a 702.76% QoQ EBITDA surge. Management highlighted expansion in liquor markets across key states and filed for a preferential issue of convertible warrants. A board meeting in May 2026 was adjourned due to quorum issues and rescheduled to approve audited results and the fundraise. The company also updated its Materiality Policy in April 2026 to comply with SEBI norms.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 58 | 58 | 47 | 48 | 46 |
| Operating Profit | -8 | 4 | -5 | 15 | 5 |
| OPM % | -13.9% | 6.2% | -10.0% | 31.3% | 10.5% |
| Net Profit | -8 | 1 | -5 | 13 | 2 |
| EPS | ₹-1.40 | ₹0.15 | ₹-0.86 | ₹2.45 | ₹0.44 |
Financial performance reflects high volatility, with operating margins swinging from -13.9% in June 2025 to 31.3% in March 2026, indicating inconsistent execution or project mix. Revenue peaked at ₹58 Cr in September 2025 but declined to ₹46.46 Cr in June 2026, despite improved profitability. Operating cash flow turned positive at ₹1,423.39 Lakhs in FY2026, suggesting improved working capital management, but this follows a negative OCF of ₹8 in March 2025. The company's ability to generate sustainable cash flow remains tied to resolving GST-related receivables and managing contract accounting risks.
🔮 Management Outlook & What's Next
Management has expressed confidence in future growth through strategic expansion in the liquor sector, citing alignment with premiumization trends in India. The board approved a preferential issue of convertible warrants to raise capital, signaling intent to strengthen balance sheet and fund working capital needs. However, no forward guidance on revenue or margins was provided in the latest filings. Management continues to emphasize compliance, audit-backed financials, and transparency in fund utilization, but acknowledges ongoing risks from GST disputes and long-term contract accounting.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 55 | 55 | 55 | 55 |
| Reserves | 113 | 118 | 115 | 106 |
| Borrowings | 60 | 68 | 77 | 63 |
| Total Liabilities | 330 | 345 | 365 | 325 |
| Fixed Assets | 55 | 60 | 49 | 68 |
| Investments | 14 | 20 | 15 | 0 |
| Total Assets | 330 | 345 | 365 | 325 |
The balance sheet shows stable equity of ₹55 Lakhs and reserves increasing slightly to ₹115 Lakhs as of March 2026, indicating limited capital accumulation. Borrowings rose to ₹77 Lakhs from ₹63 Lakhs YoY, suggesting modest leverage growth. Total assets increased to ₹365 Lakhs, reflecting asset base expansion despite flat equity. The company maintains a low debt-to-equity ratio of 0.36, but the capital structure remains thin, with minimal institutional presence and reliance on internal cash generation for funding.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -8 |
| Investing | -9 |
| Financing | +15 |
| Net Cash Flow | -1 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 66.0% | 66.0% | 67.3% | 67.3% |
| FII | 0.1% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 32.5% | 32.5% | 31.2% | 31.1% |
| # Shareholders | 30,944 | 29,865 | 28,804 | 28,190 |
Promoter holding remains stable at 67.35% over recent quarters, with no significant dilution or pledging disclosed. Public shareholding has slightly declined, while the number of shareholders has decreased from 30,944 to 28,190, indicating possible consolidation. FII and DII holdings remain negligible at 0%, suggesting limited institutional interest or confidence. No changes in shareholding patterns signal strong promoter commitment, but the lack of foreign or domestic institutional accumulation may reflect sectoral caution or low liquidity.
⚖️ Peer Comparison — Infrastructure Developers & Operators
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Significant revenue decline year-on-year despite profitability, indicating vulnerability to project execution or market demand shifts. 2. Ongoing exposure to GST-related trade receivables and complex long-term contract accounting, which pose material uncertainty despite audit confirmation of going concern. 3. Profitability is highly sensitive to cost structure, with margins fluctuating widely across quarters. 4. Low trading liquidity and minimal institutional interest could amplify price volatility. 5. Strategic pivot to liquor business introduces sectoral concentration risk with regulatory and competitive dynamics.
📋 Recent Filings
- Announcement2026-09-26Udayshivakumar Infra Ltd announced that its trading window will close on 1 October 2026 and remain shut until 48 hours after the upcoming quarterly re…
- 🟡 Board Meeting2026-09-08Udayshivakumar Infra Limited announced its 7th Annual General Meeting scheduled for 30 September 2026 at 3:00 PM IST at its registered office in Davan…
- 🟡 Board Meeting2026-09-08Udayshivakumar Infra Limited announced the outcome of its board meeting held on 08 September 2026, approving the appointment of M/s Murthy & Co. LLP a…
- 🔴 annual report2026-09-08Udayshivakumar Infra Ltd increased its authorized share capital to Rs. 72.5 crores from Rs. 56.5 crores, ratified related party transactions, and sche…
- 🟡 Board Meeting2026-09-03Udayshivakumar Infra Ltd announced a board meeting on 08 September 2026 to approve audited FY26 results, reconstitute committees, increase authorized …
- Board Meeting2026-09-03Udayshivakumar Infra Ltd announced the closure of its trading window effective immediately until 48 hours after its upcoming board meeting on 8 Septem…
- Announcement2026-08-17No summary available
- 🔴 Financial Results2026-08-14Udayshivakumar Infra Limited reported revenue of [amount not verified] for Q1 FY2027 (quarter ended June 30, 2026), up from [amount not verified] in Q…
- share transfer2026-07-11Udayshivakumar Infra Limited received a confirmation certificate from MAS Services Limited for the quarter ended 30 June 2026 under SEBI (Depositories…
- 🔴 Financial Results2026-06-08Udayshivakumar Infra Limited reported Q4 FY2026 financial results with total income of **₹4,804.71 lakhs** and net profit after tax of **₹1,335.47 lak…
🧠 Analyst's Read
Udayshivakumar Infra Ltd remains in a fragile recovery phase, with financial results showing mixed signals — profitability returning but revenue contracting sharply. The company's strategic shift toward the liquor sector may offer growth potential, but execution risks and GST-related receivables remain key overhangs. Investors should monitor upcoming audited results, utilization of IPO proceeds, and any updates on GST recovery timelines for sustainable performance.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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