Gayatri Highways Ltd

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Gayatri Highways Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Gayatri Highways Ltd

₹ 1.94 1.04%
08 Sep - close price
gayatrihighways.com BSE: 541546 NSE: GAYAHWS
About

Incorporated in 2006, Gayatri Highways Ltd, is a Hyderabad road-infrastructure holding/O&M company. Through SPVs, it manages BOT toll and annuity roads for NHAI and state authorities; its legacy 7-asset portfolio is partly operational, distressed, or under exit. [1]

Key Points

Business Overview
Gayatri Highways Limited is an infrastructure asset-holding company promoted by Gayatri Projects. It operates and maintains a portfolio of road, highway, and bridge assets across India through Special Purpose Vehicles (SPVs) using Build-Operate-Transfer (BOT) toll, annuity, and HAM models.[1]

Website BSE NSE
  • Market Cap ₹ 46.5 Cr.
  • Current Price ₹ 1.94
  • High / Low ₹ 4.76 / 1.63
  • Stock P/E
  • Book Value ₹ -26.2
  • Dividend Yield 0.00 %
  • ROCE 67.1 %
  • ROE %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.4,039 Cr.
  • Promoters have pledged 59.0% of their holding.
  • Earnings include an other income of Rs.2.47 Cr.
  • Company has high debtors of 180 days.
  • Working capital days have increased from -77,435 days to 4,303 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Services Services Transport Infrastructure Road AssetsToll, Annuity, Hybrid-Annuity

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
0.18 0.18 0.18 1.18 1.68 0.65 2.18 1.18 0.00 0.00 0.00 14.55 7.09
0.27 0.23 1.39 7.21 0.59 1.23 5.34 3.26 0.21 1.88 0.28 13.71 6.59
Operating Profit -0.09 -0.05 -1.21 -6.03 1.09 -0.58 -3.16 -2.08 -0.21 -1.88 -0.28 0.84 0.50
OPM % -50.00% -27.78% -672.22% -511.02% 64.88% -89.23% -144.95% -176.27% 5.77% 7.05%
-84.43 -88.30 -69.35 -156.78 -68.32 -56.60 -68.22 1,338.74 35.57 0.82 0.55 0.57 0.53
Interest 5.20 5.22 5.22 -0.55 3.77 3.77 3.77 3.77 3.77 3.77 3.77 3.77 3.77
Depreciation 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.00
Profit before tax -89.74 -93.59 -75.80 -162.28 -71.02 -60.97 -75.17 1,332.88 31.58 -4.84 -3.51 -2.37 -2.74
Tax % 0.00% 0.04% 0.01% 0.00% 0.04% 0.02% -0.05% 0.00% 0.19% 5.17% 0.00% 0.84% 0.36%
-89.74 -98.96 -76.22 -168.26 -74.93 -45.24 -98.17 1,347.30 -2.12 -3.24 -2.76 6.90 -2.83
EPS in Rs -3.74 -4.13 -3.18 -7.02 -3.13 -1.89 -4.10 56.22 -0.09 -0.14 -0.12 0.29 -0.12
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
0.00 0.00 86.11 74.71 69.51 81.40 6.30 7.63 1.72 5.69 14.55 21.64
0.00 676.27 214.57 204.93 187.39 16.72 3.56 8.17 9.09 10.40 16.07 22.46
Operating Profit 0.00 -676.27 -128.46 -130.22 -117.88 64.68 2.74 -0.54 -7.37 -4.71 -1.52 -0.82
OPM % -149.18% -174.30% -169.59% 79.46% 43.49% -7.08% -428.49% -82.78% -10.45% -3.79%
0.00 676.23 202.94 9.02 7.58 -238.10 -278.81 -96.54 -398.86 1,145.60 37.51 2.47
Interest 0.00 0.00 246.70 129.04 131.23 135.14 21.35 20.84 15.09 15.11 15.09 15.08
Depreciation 0.00 0.00 12.35 9.59 17.59 20.64 0.03 0.04 0.08 0.07 0.05 0.03
Profit before tax 0.00 -0.04 -184.57 -259.83 -259.12 -329.20 -297.45 -117.96 -421.40 1,125.71 20.85 -13.46
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 1.53%
0.00 -0.04 -184.57 -259.83 -259.12 -329.20 -297.45 -117.96 -441.12 1,128.96 -1.22 -1.93
EPS in Rs -7.70 -10.84 -10.81 -13.74 -12.41 -4.92 -18.41 47.11 -0.05 -0.09
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: -29%
3 Years: 24%
TTM: 440%
Compounded Profit Growth
10 Years: %
5 Years: 15%
3 Years: 26%
TTM: -126%
Stock Price CAGR
10 Years: %
5 Years: 16%
3 Years: 34%
1 Year: -5%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.02 47.93 47.93 47.93 47.93 47.93 47.93 47.93 47.93 47.93 47.93
Reserves -0.01 -32.59 -31.80 -275.14 -556.39 -901.82 -1,043.31 -1,361.62 -1,802.70 -673.87 -675.05
0.01 2,396.50 2,417.69 2,455.81 2,506.26 2,516.55 2,408.73 2,410.97 2,411.66 956.21 403.91
0.00 415.70 535.76 695.43 862.73 805.87 1,072.05 1,340.19 1,317.57 669.89 1,213.65
Total Liabilities 0.02 2,827.54 2,969.58 2,924.03 2,860.53 2,468.53 2,485.40 2,437.47 1,974.46 1,000.16 990.44
0.00 860.86 2,697.21 2,716.78 911.95 891.36 867.79 115.55 0.18 0.12 0.07
CWIP 0.00 1,731.46 51.81 3.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 48.97 120.64 123.21 102.07 86.43 250.88 228.64 208.97 91.43 69.69
0.02 186.25 99.92 80.92 1,846.51 1,490.74 1,366.73 2,093.28 1,765.31 908.61 920.68
Total Assets 0.02 2,827.54 2,969.58 2,924.03 2,860.53 2,468.53 2,485.40 2,437.47 1,974.46 1,000.16 990.44

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.00 225.45 249.50 132.25 1,712.04 466.90 813.22 93.46 311.76 174.98 -27.09
0.00 -2,616.94 -75.81 -126.40 7.00 15.48 -164.47 22.07 19.66 -3.24 56.34
0.00 2,434.21 -195.23 -21.06 -1,723.12 -480.90 -647.08 -113.93 -328.00 -161.43 -32.18
Net Cash Flow 0.00 42.72 -21.54 -15.21 -4.08 1.47 1.67 1.60 3.42 10.31 -2.94
Free Cash Flow 0.00 -2,366.12 80.45 143.28 1,697.90 466.75 813.19 93.30 311.75 174.98 -27.09
CFO/OP -35% -196% -102% -1,443% 739% 29,831% -14,470% -4,213% -3,720% 1,782%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 30.18 29.31 0.58 0.58 97.33 33.49 133.69 148.18 179.62
Inventory Days
Days Payable
Cash Conversion Cycle 30.18 29.31 0.58 0.58 97.33 33.49 133.69 148.18 179.62
Working Capital Days -829.53 -2,282.53 -1,869.11 -2,820.86 -77,397.96 -39,431.00 -237,381.57 774.26 4,303.24
ROCE % -0.00% 2.56% -5.61% -6.05% 2.93% 0.34% 1.04% 1.46% 2.97% 67.14%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Aggregate Subsidiary Turnover (Operating SPVs)
INR Lakhs

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Number of Impaired/Terminated SPVs
count
Number of Joint Ventures/Associates
count ・Standalone data
Number of Operational SPVs (generating revenue)
count
Number of Subsidiaries
count ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16% 61.16%
4.08% 4.08% 4.08% 4.08% 4.08% 4.08% 4.08% 3.32% 3.32% 2.58% 1.91% 1.50%
34.76% 34.77% 34.78% 34.77% 34.78% 34.77% 34.78% 35.53% 35.53% 36.26% 36.94% 37.35%
No. of Shareholders 37,09943,36042,92542,20641,50241,03240,81242,60246,07353,43253,41553,261

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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