G R Infraprojects Ltd

G R Infraprojects Ltd

₹ 1,316 3.45%
28 Mar 2:08 p.m.
About

Incorporated in the year 1995, G R Infraprojects Ltd is an integrated road Engineering, Procurement, Construction company (EPC) with experience in the design and construction of various road/highway projects across 15 States in India. It mainly undertakes civil construction projects under the EPC and BOT (Build Operate Transfer) basis in the road sector. [1]

Key Points

Leading Construction company
The company has designed and constructed over 100 road projects across 16 states in India. [1]
Its principal business of civil construction which accounts for ~90% of revenues includes EPC, BOT, and HAM projects in the road sector and EPC projects in railway, metro, airport runways and Optical Fibre Cable (OFC) projects. Apart from road construction, Co. has also ventured into the Power Transmission business as a part of its diversification strategy. [2]
GRIL has a portfolio of 10 operational assets, including one NHAI annuity project, one state HAM project, and the balance eight NHAI HAM projects.[3]

  • Market Cap 12,726 Cr.
  • Current Price 1,316
  • High / Low 1,382 / 962
  • Stock P/E 18.9
  • Book Value 574
  • Dividend Yield 0.00 %
  • ROCE 21.0 %
  • ROE 17.6 %
  • Face Value 5.00

Pros

  • Company has reduced debt.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Debtor days have increased from 54.2 to 84.2 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,168 2,628 2,133 1,699 1,818 2,268 2,477 1,777 1,899 1,995 2,152 1,574 1,806
912 2,220 1,788 1,422 1,564 1,865 1,990 1,517 1,622 1,705 1,838 1,380 1,578
Operating Profit 257 409 345 278 255 403 486 260 277 290 315 194 228
OPM % 22% 16% 16% 16% 14% 18% 20% 15% 15% 15% 15% 12% 13%
32 39 30 34 32 33 32 52 42 55 51 61 66
Interest 41 38 39 31 30 27 27 24 25 27 27 28 24
Depreciation 52 68 67 71 82 62 63 62 61 59 60 62 61
Profit before tax 196 342 270 210 175 347 428 226 233 259 279 166 209
Tax % 28% 28% 25% 22% 26% 24% 25% 27% 25% 26% 25% 26% 26%
141 247 204 163 129 265 321 164 174 192 208 123 155
EPS in Rs 14.19 24.87 21.06 16.86 13.34 27.43 33.21 17.00 18.01 19.88 21.51 12.75 16.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,882 3,090 3,066 4,950 6,028 7,244 7,919 8,148 7,528
1,658 2,549 2,502 3,943 4,786 5,931 6,638 6,834 6,501
Operating Profit 224 541 565 1,007 1,242 1,314 1,281 1,313 1,026
OPM % 12% 18% 18% 20% 21% 18% 16% 16% 14%
14 159 52 67 94 124 129 181 234
Interest 38 53 63 106 146 140 127 102 106
Depreciation 44 64 81 138 187 227 282 246 242
Profit before tax 156 583 473 831 1,003 1,071 1,002 1,146 912
Tax % 35% -0% 17% 28% 31% 27% 24% 26%
101 583 393 596 689 781 761 852 679
EPS in Rs 40.62 117.26 39.49 59.90 69.26 78.49 78.69 88.09 70.21
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 22%
3 Years: 11%
TTM: -11%
Compounded Profit Growth
10 Years: %
5 Years: 17%
3 Years: 7%
TTM: -27%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 31%
Return on Equity
10 Years: %
5 Years: 22%
3 Years: 20%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 25 48 48 48 48 48 48 48 48
Reserves 514 1,090 1,489 2,092 2,779 3,556 4,315 5,167 5,500
349 395 615 1,061 1,104 1,381 1,134 1,094 873
508 814 790 1,283 1,259 1,372 1,216 1,448 1,413
Total Liabilities 1,396 2,348 2,943 4,484 5,191 6,358 6,713 7,756 7,835
286 383 615 902 1,032 1,345 1,485 1,438 1,371
CWIP 28 17 48 43 28 55 59 72 56
Investments 69 202 229 257 255 364 324 86 343
1,013 1,746 2,051 3,281 3,875 4,593 4,846 6,160 6,064
Total Assets 1,396 2,348 2,943 4,484 5,191 6,358 6,713 7,756 7,835

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
377 -4 652 831 420 561 764
123 -632 -906 -319 -925 -237 -646
-18 126 273 -45 159 -381 -126
Net Cash Flow 482 -510 19 467 -346 -57 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 49 62 77 64 49 45 33 84
Inventory Days 40 113 63
Days Payable 83 132 54
Cash Conversion Cycle 6 62 59 74 49 45 33 84
Working Capital Days 17 27 67 62 67 83 99 117
ROCE % 41% 28% 35% 32% 27% 22% 21%

Shareholding Pattern

Numbers in percentages

13 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
86.54% 86.54% 86.54% 86.54% 86.54% 79.74% 79.74% 79.74% 79.74% 79.74% 79.74%
0.00% 2.87% 2.55% 0.27% 0.23% 0.63% 0.38% 0.49% 0.59% 0.68% 0.57%
0.00% 7.09% 7.48% 9.78% 9.69% 15.67% 16.10% 16.17% 16.14% 15.88% 15.86%
13.46% 3.50% 3.43% 3.41% 3.54% 3.95% 3.78% 3.60% 3.52% 3.69% 3.82%
No. of Shareholders 3281,75577,96175,81174,62974,66872,31968,83267,29766,99268,536

* 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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