GMR Infrastructure Ltd

GMR Infrastructure carries its business in the following business segments: Engineering Procurement Construction (EPC).

Pros:
Cons:
Stock is trading at 3.02 times its book value
Company has low interest coverage ratio.
The company has delivered a poor growth of -2.65% over past five years.
Company has a low return on equity of -34.11% for last 3 years.
Contingent liabilities of Rs.12988.46 Cr.
Promoters have pledged 80.27% of their holding
Earnings include an other income of Rs.1002.46 Cr.

Peer Comparison

Infrastructure Developers & Operators >> Engineering - Turnkey Services
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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
3,564 3,737 2,239 2,166 2,513 2,687 2,674 1,866 2,072 2,109 1,747 1,904
2,204 2,630 1,721 2,152 1,854 1,756 1,960 1,612 2,034 1,705 1,420 1,472
Operating Profit 1,360 1,107 517 14 659 931 714 254 39 405 327 433
OPM % 38% 30% 23% 1% 26% 35% 27% 14% 2% 19% 19% 23%
Other Income 143 -109 77 99 951 231 115 115 224 410 131 237
Interest 1,129 1,149 509 555 529 535 504 590 634 587 503 676
Depreciation 584 723 265 269 260 246 251 255 262 261 243 246
Profit before tax -209 -874 -179 -711 822 381 74 -476 -634 -33 -287 -253
Tax % -64% 1% -31% -26% 22% 79% 284% 15% 9% 115% 18% 13%
Net Profit -379 -954 -235 -893 643 79 -137 -404 -578 5 -235 -219

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
1,969 2,295 4,019 4,567 6,465 8,473 9,975 10,653 11,088 8,261 9,557 8,721 7,833
1,470 1,697 2,952 3,202 5,028 6,900 7,952 8,097 8,606 7,868 6,539 6,999 6,630
Operating Profit 499 598 1,067 1,364 1,438 1,573 2,023 2,556 2,482 393 3,018 1,723 1,203
OPM % 25% 26% 27% 30% 22% 19% 20% 24% 22% 5% 32% 20% 15%
Other Income 63 113 118 291 -441 168 1,508 2,145 96 433 526 553 1,002
Interest 144 211 465 850 1,230 1,653 2,099 2,972 3,572 2,196 2,128 2,316 2,401
Depreciation 135 179 390 612 789 936 1,040 1,455 1,813 1,197 1,019 1,028 1,012
Profit before tax 283 321 330 193 -1,023 -848 393 275 -2,806 -2,568 397 -1,069 -1,207
Tax % 15% 18% 16% -17% -2% -25% 66% 61% -5% -7% 187% -4%
Net Profit 174 210 279 158 -930 -603 88 10 -2,733 -2,712 -564 -1,364 -1,028
EPS in Rs 0.51 0.56 0.75 0.42 0.00 0.00 0.19 0.01 0.00 0.00 0.00 0.00
Dividend Payout % 0% 0% 0% 0% -0% -0% 44% 389% -0% -0% -0% -0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.28%
5 Years:-2.65%
3 Years:-7.69%
TTM:-19.57%
Compounded Profit Growth
10 Years:%
5 Years:17.48%
3 Years:-14.12%
TTM:-667.23%
Return on Equity
10 Years:-14.83%
5 Years:-29.91%
3 Years:-34.11%
TTM:-37.07%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
331 364 364 567 2,204 2,369 389 2,682 2,557 604 604 604 604
Reserves 1,661 5,753 6,114 6,300 7,278 7,149 6,889 6,095 4,306 4,489 4,333 2,943 2,481
Borrowings 3,706 7,977 12,500 21,171 21,195 36,077 42,349 45,041 47,808 39,444 21,484 23,067 23,336
1,289 2,607 3,544 4,477 12,475 12,613 15,392 15,705 16,550 16,806 11,493 12,488 12,978
Total Liabilities 6,987 16,701 22,523 32,315 41,338 56,228 65,020 67,230 69,100 61,342 37,913 39,102 39,399
2,900 5,270 9,652 12,548 21,220 23,328 27,335 33,639 34,183 34,513 15,773 15,626 15,173
CWIP 1,906 4,523 6,791 10,383 6,504 18,657 19,178 15,734 17,247 2,155 239 589 704
Investments 262 4,900 1,311 4,641 2,974 722 283 880 1,413 6,545 12,422 12,871 12,763
1,919 2,009 4,769 4,743 10,640 13,522 18,223 16,978 16,257 18,129 9,478 10,017 10,759
Total Assets 6,987 16,701 22,523 32,315 41,338 56,228 65,020 67,230 69,100 61,342 37,913 39,102 39,399

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
674 349 395 1,251 1,782 1,331 3,178 2,590 2,915 3,498 4,504 2,347
-1,940 -9,302 -2,776 -10,144 -6,948 -10,376 -8,490 -5,512 -3,159 -1,660 1,485 -962
1,890 8,547 3,953 8,109 5,880 10,123 5,910 634 448 -2,018 -5,727 -1,191
Net Cash Flow 624 -406 1,572 -784 713 1,078 598 -2,289 204 -180 263 194

Ratios Consolidated / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 9% 5% 5% 4% 3% 2% 3% 3% 2% -1% 8% 4%
Debtor Days 72 68 60 69 33 73 62 55 53 68 66 74
Inventory Turnover 59 67 47 37 43 38 38 34 33 31 54 75