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Ircon International Ltd.

BSE: 541956 Sector: Infrastructure
NSE: IRCON ISIN Code: INE962Y01013
BSE 00:00 | 15 Feb 377.60 -7.85
(-2.04%)
OPEN

379.90

HIGH

380.55

LOW

369.50

NSE 00:00 | 15 Feb 380.15 -5.10
(-1.32%)
OPEN

371.10

HIGH

383.00

LOW

371.10

OPEN 379.90
PREVIOUS CLOSE 385.45
VOLUME 4935
52-Week high 470.00
52-Week low 338.00
P/E 6.25
Mkt Cap.(Rs cr) 3,551
Buy Price 377.60
Buy Qty 95.00
Sell Price 379.90
Sell Qty 98.00
OPEN 379.90
CLOSE 385.45
VOLUME 4935
52-Week high 470.00
52-Week low 338.00
P/E 6.25
Mkt Cap.(Rs cr) 3,551
Buy Price 377.60
Buy Qty 95.00
Sell Price 379.90
Sell Qty 98.00

Ircon International Ltd. (IRCON) - Company History

Ircon International is an integrated Indian engineering and construction company specializing in major infrastructure projects including railways highways bridges flyovers tunnels aircraft maintenance hangars runways EHV sub-stations electrical and mechanical works commercial and residential properties development of industrial areas and other infrastructure activities. The Company provides EPC services on a fixed-sum turnkey basis as well as on an item-rate basis for various infrastructure projects. The Company also executes on build operate and transfer mode in various projects in order to meet the requirements of its bids. In 2016 the company was ranked number 248 in the list of the top 250 international contractors by Engineering News Record (ENR) of the United States. The Company is headquartered in Saket New Delhi and it has an overseas office in Malaysia. Additionally it has 26 project offices in India and abroad (including in Sri Lanka Bangladesh South Africa and Algeria) and five regional offices to support and manage its business operations. The Company's reputation for quality commitment and consistency in terms of performance as well as its local regional and international presence has allowed them to service the growing infrastructure needs throughout India. The Company's Order Book as of a particular date comprises of the anticipated revenues from uncompleted portions of existing contracts (signed contracts for which all pre-conditions to entry have been met including letters of intent issued by the client). As on 31 August 2018 the company had an order book of Rs 27687.82 crore.Since the company commenced operations in 1976 it has serviced a diverse range of infrastructure and construction projects and while its primary focus and strength are still deeply rooted in the railway sector the company has since diversified progressively into other transport and infrastructure segments such as highway and road construction and expanded its geographical coverage to many countries around the world. In addition although its largest shareholder is the Ministry of Railways the company continues to carry on businesses as a legal entity separate from the Government of India and remain an independent commercial enterprise which is legally functionally and financially autonomous from the Government of India operating under the Companies Act of India and other applicable laws.Ircon has rich experience in executing major construction and infrastructure projects both internationally and domestically. The scope of its services for such projects primarily includes design and engineering of the project procurement of equipment and packages project management and commissioning. While the company executes majority of its projects independently it also form project specific joint ventures and consortiums with other infrastructure and construction companies in particular when a project requires it or its partners to meet specific eligibility requirements in relation to certain large projects including requirements of particular types of experience and financial resources. Its human resources and fleet of equipment along with its engineering skills and capabilities enable them to undertake a wide variety of construction projects that involve varying degrees of complexity.The Company has been ISO 9001-2015 certified for quality management systems since 1994 by TUV Suddeutschl and Private Limited (TUV) for design development engineering procurement and construction of projects. As part of its drive to maintain growth while being committed to corporate social responsibility the company also received ISO 14001-2015 in 2011 specifically for its effort in setting up their environment management system (EMS). The Company has also received several awards including Dun and Bradstreet Infra Awards 2017 in Construction and Infrastructure Development (Railways) India Pride Award 2016-2017 (Central PSU) and the Governance Now 5th PSU Awards for Consistent Growth.Ircon International Limited was incorporated as a private limited company with the name 'Indian Railway Construction Company Private Limited' on April 28 1976 in Delhi. The Company became a public limited company with effect from November 20 1976 and the name of the company was changed to 'Indian Railway Construction Company Limited'. In 1992 pursuant to disinvestment of 13400 equity shares of Rs 10 each by Government of India the company's shares were listed on the BSE Limited and the Delhi Stock Exchange Limited. The name of the company was changed to its present name `Ircon International Limited' on October 17 1995.In 1998 Ircon International was granted the status of `Mini Ratna - Category - 1' by the Ministry of Railways. In 2011 the company voluntarily delisted its shares from the BSE Limited. In 2012 the company voluntarily delisted its shares from the Delhi Stock Exchange.The Government of India (GoI) carried out disinvestment of 99.05 lakh equity shares of Ircon International by way of an initial public offer (IPO) during the period from 17 September 2018 to 19 September 2018. The IPO was priced at Rs 475 per share. After the divestment of stake GoI's holding in Ircon International came down to 89.18%.On 24 October 2018 Ircon International Limited announced that the company has made an investment of Rs 50 crore (i.e in 5 crore equity shares of Rs.10/- each) in Ircon Davanagere Haveri Limited (IrconDHHL) by way of right issue. As on date the total investment made by the company in IrconDHHL is Rs 104.05 crore. IrconDHHL is a wholly owned subsidiary (WOS) of Ircon International. Earlier the Board of Directors of Ircon International at its meeting held on 8 November 2017 approved an equity investment of upto Rs 217.05 crore in IrconDHHL.