Company Overview

Ducon Infratechnologies Limited is an India-based fossil fuel clean coal technology company engaged in the field of air pollution control, flue gas desulphurization (FGD) systems, wet scrubbers, bag filters systems, cyclones, bulk material handling systems, belt conveyor systems, pipe conveyor system, pneumatic conveying system, air slides, silo systems, bulk powder handling equipment, rural electrification, and software services. It operates in the segments of Industrial Engineering, Procurement and Construction (EPC) and Information Technology.

DIL is the Indian arm of Ducon Technologies Inc., USA. It is a Fossil Fuel / Clean Coal Technology company providing complete FGD systems on a turnkey basis, across India and in neighboring regions for coal, HFO, and pet coke-fired power boilers. The company was founded on April 2, 2009, and is headquartered in Mumbai, India. Globally, Ducon has supplied FGD systems on over 20,000 MW of combined power plant capacity.

Business Segments

EPC/Infrastructure Business

The company's core infrastructure business centers around flue gas desulphurization (FGD) systems, which are critical for environmental compliance in power generation. The Company provides limestone, seawater, and dry sorbent injection type flue gas desulphurization (FGD) systems. Flue-gas desulfurization (FGD) is a set of technologies used to remove sulfur dioxide (SO₂) from exhaust gasses of fossil-fuel power plants and from the emissions of other sulfur dioxide emitting processes.

In the infrastructure sector, Ducon provides complete FGD systems in thermal power plants, bulk material handling systems for Alumina, fly ash handling systems, and electrification projects. The company specializes in various types of environmental control systems including wet scrubbers, bag filters, and cyclones for industrial applications.

Information Technology Services

It provides information technology (IT) consulting services in India for all advanced technologies, such as IT distribution, procurement outsourcing solutions, security surveillance systems, servers, storages, energy management systems, and marketing and branding. Its IT services include distribution, service platforms, marketing and brand activities, procurement and sourcing, security and surveillance, and energy management systems.

Financial Performance and Key Metrics

Ducon reports FY25 revenue of ₹452.42 Cr, EBITDA of ₹31.47 Cr (+43%), and net profit of ₹13.55 Cr (+78%) as of June 2, 2025. The company demonstrated strong financial performance throughout fiscal year 2025, with significant growth across key metrics.

Quarterly Results

- Q3 FY25 (December 2024): Net profit rose 9.65% to Rs 3.41 crore, as against Rs 3.11 crore in the previous quarter ended December 2023. Sales declined 0.16% to Rs 112.01 crore, as against Rs 112.19 crore during the previous quarter ended December 2023.

- Q2 FY25 (September 2024): Net profit rose 332.50% to Rs 3.46 crore, as against Rs 0.80 crore during the previous quarter ended September 2023.

- Q1 FY25 (June 2024): Net profit rose 403.28% to Rs 3.07 crore, as against Rs 0.61 crore during the previous quarter ended June 2023. Sales rose 20.17% to Rs 109.43 crore, as against Rs 91.06 crore during the previous quarter ended June 2023.

Nine-Month Performance (Ending December 31, 2024)

The company reported consolidated sales of INR 333.09 crores compared to INR 312.40 crores a year ago in FY 2024.

Key Financial Metrics

- Market Capitalization: ₹184.23 Cr (as of May 7, 2025)

- Exchange Symbols: NSE: DUCON, BSE: 534674

- P/E Ratio: 24.15

- P/B Ratio: 1.53

- Return on Equity (3-Year Average): 6.30%

- 52-Week High: ₹11.28

- 52-Week Low: ₹4.58

- Promoter Holding: 38.08% (as of Mar 2025)

Management and Corporate Structure

Mr. Arun Govil serves as Managing Director of Ducon Infratechnologies Limited, leading the company's strategic initiatives in clean technology and infrastructure development. The Company has a wholly-owned subsidiary in the USA named "Ducon Combustion Equipment Inc." with the objective to sell diversified combustion and power products.

Shareholding Pattern

Promoter holding in Ducon Infratechnologies Ltd has decreased to 38.08% as of March 2025 from 51.97% as of June 2024. This reduction indicates some dilution in the ownership structure over the recent period.

Recent Strategic Developments

The company has been actively expanding its technological capabilities and market presence. Ducon made a strong impact at the GH2 Summit held at Yashobhoomi Convention Centre in Delhi recently. In collaboration with its technology partner, DeltaVision GmbH, Ducon showcased its advanced fluid control systems for hydrogen mobility, storage, and safety applications.

Ducon Infratechnologies continues to position itself as a key player in India's transition toward cleaner energy technologies, leveraging its expertise in pollution control systems and expanding into emerging areas like hydrogen technology applications. The company's strong financial performance in FY25 demonstrates its ability to execute projects effectively while maintaining operational efficiency in a competitive market environment.