G R Infraprojects Ltd

G R Infraprojects Ltd

₹ 1,321 -0.26%
19 Apr - close price
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 12,776 Cr.
  • Current Price 1,321
  • High / Low 1,435 / 967
  • Stock P/E 11.0
  • Book Value 703
  • Dividend Yield 0.00 %
  • ROCE 21.6 %
  • ROE 26.1 %
  • Face Value 5.00

Pros

  • Company has delivered good profit growth of 29.1% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.1%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 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
2,474 2,736 2,264 1,882 1,955 2,396 2,692 2,136 2,192 2,461 2,478 1,883 2,134
1,757 2,229 1,794 1,492 1,589 1,887 2,005 1,535 1,597 1,791 1,871 1,416 1,626
Operating Profit 717 507 470 390 366 509 687 601 595 670 607 467 508
OPM % 29% 19% 21% 21% 19% 21% 26% 28% 27% 27% 25% 25% 24%
21 22 10 18 19 18 14 25 17 31 21 26 25
Interest 90 103 120 89 104 108 97 108 117 121 137 145 155
Depreciation 60 68 67 71 82 62 63 62 61 59 60 62 61
Profit before tax 588 357 294 249 199 357 540 457 434 521 432 287 316
Tax % 28% 29% 25% 24% 27% 23% 25% 26% 25% 25% 28% 24% 23%
423 254 221 189 145 277 405 336 324 390 310 217 243
EPS in Rs 42.57 25.53 22.88 19.51 15.05 28.60 41.87 34.77 33.47 40.30 32.05 22.46 25.10
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
916 1,047 2,020 3,189 3,141 5,283 6,373 7,844 8,458 9,482 8,956
769 870 1,708 2,576 2,534 3,999 4,786 5,991 6,723 6,928 6,704
Operating Profit 147 177 311 613 607 1,284 1,587 1,853 1,735 2,554 2,252
OPM % 16% 17% 15% 19% 19% 24% 25% 24% 21% 27% 25%
4 8 9 159 43 43 51 67 65 87 103
Interest 62 88 105 126 66 170 295 362 420 443 557
Depreciation 35 44 50 69 83 149 189 227 282 246 242
Profit before tax 55 52 165 577 501 1,008 1,154 1,331 1,099 1,952 1,556
Tax % 36% 40% 38% -2% 19% 29% 31% 28% 24% 26%
35 31 102 588 406 717 801 955 832 1,454 1,160
EPS in Rs 13.94 12.16 40.76 118.22 40.82 72.06 80.53 96.01 86.04 150.42 119.91
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 25%
3 Years: 14%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: 29%
3 Years: 22%
TTM: -14%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 35%
Return on Equity
10 Years: %
5 Years: 26%
3 Years: 24%
Last Year: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 25 25 25 48 48 48 48 48 48 48 48
Reserves 381 410 513 1,083 1,494 2,181 2,979 3,932 4,763 6,217 6,746
682 920 979 531 847 2,141 3,210 4,525 5,282 5,697 6,324
228 301 561 855 723 1,458 1,546 1,586 1,567 1,820 1,787
Total Liabilities 1,316 1,656 2,077 2,517 3,112 5,829 7,783 10,091 11,660 13,782 14,904
235 547 698 384 615 930 1,029 1,345 1,485 1,439 1,372
CWIP 148 73 28 17 48 43 28 55 59 72 56
Investments 10 41 55 151 79 10 2 103 3 56 143
922 996 1,297 1,966 2,370 4,846 6,725 8,588 10,113 12,215 13,334
Total Assets 1,316 1,656 2,077 2,517 3,112 5,829 7,783 10,091 11,660 13,782 14,904

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
680 -371 -244 -267 -457 166 184
353 -340 -784 -144 -735 -257 -557
-585 246 1,004 884 972 311 -20
Net Cash Flow 448 -465 -24 473 -220 220 -393

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 68 67 52 64 39 38 17 23 24 18
Inventory Days 93 105 40
Days Payable 34 73 89
Cash Conversion Cycle 127 98 3 64 39 38 17 23 24 18
Working Capital Days 95 25 17 27 112 102 96 90 118 135
ROCE % 11% 19% 44% 28% 35% 27% 23% 16% 22%

Shareholding Pattern

Numbers in percentages

13 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
86.54% 86.54% 86.54% 86.54% 86.54% 79.74% 79.74% 79.74% 79.74% 79.74% 79.74% 74.74%
0.00% 2.87% 2.55% 0.27% 0.23% 0.63% 0.38% 0.49% 0.59% 0.68% 0.57% 0.76%
0.00% 7.09% 7.48% 9.78% 9.69% 15.67% 16.10% 16.17% 16.14% 15.88% 15.86% 20.61%
13.46% 3.50% 3.43% 3.41% 3.54% 3.95% 3.78% 3.60% 3.52% 3.69% 3.82% 3.90%
No. of Shareholders 3281,75577,96175,81174,62974,66872,31968,83267,29766,99268,53668,620

* 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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