IRB Infrastructure Developers Ltd

IRB Infra.Devl. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

IRB Infrastructure Developers Ltd

₹ 68.8 1.47%
26 Apr - close price
irb.co.in BSE: 532947 NSE : IRB
About

IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.[1]

Key Points

Business Portfolio
The Company is India’s largest road BOT operator with a portfolio of 36 projects. The company’s TOT portfolio aggregates 37% of the total TOT market share. Also, it has a ~20% share in Golden Quadrilateral Highway Network. Company has the ability to undertake construction of 500 to 600 kms at any given point of time [1]

Website BSE NSE
  • Market Cap ₹ 41,548 Cr.
  • Current Price ₹ 68.8
  • High / Low ₹ 73.1 / 25.0
  • Stock P/E 82.3
  • Book Value ₹ 15.2
  • Dividend Yield 0.29 %
  • ROCE 5.80 %
  • ROE 4.27 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 4.53 times its book value
  • The company has delivered a poor sales growth of 7.49% over past five years.
  • Company has a low return on equity of 5.12% over last 3 years.
  • Promoters have pledged 48.8% of their holding.
  • Earnings include an other income of Rs.600 Cr.
  • Dividend payout has been low at 10.8% of profits over last 3 years
  • Debtor days have increased from 37.3 to 48.2 days.
  • Promoter holding has decreased over last 3 years: -24.2%

* 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

Sector: Infrastructure Developers & Operators Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
817 615 725 768 324 782 1,341 813 942 1,064 946 1,114 1,340
695 519 599 660 283 384 1,101 756 887 988 872 963 1,219
Operating Profit 122 96 126 108 42 399 240 57 55 76 74 151 121
OPM % 15% 16% 17% 14% 13% 51% 18% 7% 6% 7% 8% 14% 9%
26 67 58 57 226 135 55 150 106 92 158 145 204
Interest 137 149 175 173 248 124 91 95 94 91 100 124 126
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 12 14 9 -8 20 409 203 111 68 77 132 172 199
Tax % 30% 72% 26% 33% 26% 26% 26% 8% 6% 28% 17% 24% -5%
8 4 7 -5 15 304 151 102 63 56 110 130 209
EPS in Rs 0.02 0.01 0.02 -0.01 0.02 0.50 0.25 0.17 0.10 0.09 0.18 0.21 0.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,250 2,032 2,212 1,956 2,768 3,413 2,900 3,385 3,992 2,750 2,600 4,160 4,464
1,110 1,818 1,983 1,754 2,532 3,038 2,580 2,933 3,469 2,372 1,924 3,729 4,042
Operating Profit 139 215 229 201 236 374 320 452 523 378 676 431 422
OPM % 11% 11% 10% 10% 9% 11% 11% 13% 13% 14% 26% 10% 9%
146 213 296 244 393 223 426 239 169 320 476 403 600
Interest 77 198 214 271 280 306 231 230 323 495 722 375 441
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 208 230 312 174 349 292 516 460 368 203 430 459 580
Tax % 20% 19% 8% 20% 16% 30% 14% 29% 24% 7% 26% 19%
166 187 288 138 292 203 444 329 279 189 320 372 505
EPS in Rs 0.50 0.56 0.87 0.39 0.83 0.58 1.26 0.94 0.79 0.54 0.53 0.62 0.83
Dividend Payout % 36% 71% 46% 102% 48% 86% 40% 27% 63% 0% 0% 32%
Compounded Sales Growth
10 Years: 7%
5 Years: 7%
3 Years: 1%
TTM: 15%
Compounded Profit Growth
10 Years: 7%
5 Years: -3%
3 Years: 10%
TTM: -19%
Stock Price CAGR
10 Years: 20%
5 Years: 40%
3 Years: 86%
1 Year: 151%
Return on Equity
10 Years: 9%
5 Years: 7%
3 Years: 5%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 332 332 332 351 351 351 351 351 351 351 604 604 604
Reserves 1,185 1,239 1,394 1,798 2,021 2,154 2,158 2,281 2,214 2,505 7,883 8,349 8,577
1,801 1,685 2,195 2,530 2,921 3,646 5,415 4,611 8,042 10,090 5,468 5,865 8,051
1,168 1,468 1,995 2,467 2,562 2,861 2,458 2,538 2,211 2,130 1,647 2,115 3,178
Total Liabilities 4,486 4,724 5,916 7,146 7,855 9,012 10,382 9,782 12,820 15,076 15,602 16,933 20,409
0 0 0 0 0 0 0 0 0 0 0 0 0
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1,383 1,641 1,867 2,317 2,502 5,401 5,804 6,418 6,450 8,975 8,270 8,752 11,862
3,103 3,084 4,049 4,830 5,353 3,612 4,578 3,364 6,369 6,101 7,333 8,181 8,547
Total Assets 4,486 4,724 5,916 7,146 7,855 9,012 10,382 9,782 12,820 15,076 15,602 16,933 20,409

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
853 494 514 648 536 619 -1,727 1,065 -425 1,422 -290 250
-235 -185 -684 -1,087 -437 -1,031 459 52 -2,362 -2,391 -269 -26
-519 -409 136 430 -64 382 1,262 -1,117 3,124 1,201 -12 -31
Net Cash Flow 98 -100 -34 -9 36 -29 -6 0 337 232 -571 193

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 14 23 22 17 13 1 89 49 22 23 41 48
Inventory Days
Days Payable
Cash Conversion Cycle 14 23 22 17 13 1 89 49 22 23 41 48
Working Capital Days 136 -93 28 -100 -103 -52 71 -95 -12 -26 -10 7
ROCE % 10% 13% 15% 10% 13% 10% 11% 9% 8% 6% 9% 6%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.46% 58.46% 34.02% 34.02% 34.20% 34.20% 34.20% 34.20% 34.21% 34.39% 34.39% 34.39%
14.41% 13.34% 48.15% 48.79% 48.65% 48.76% 48.58% 48.52% 48.37% 47.29% 47.16% 47.21%
13.53% 13.01% 5.70% 6.14% 6.50% 6.69% 6.71% 6.98% 6.98% 7.38% 7.85% 7.78%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
13.60% 15.18% 12.12% 11.05% 10.64% 10.34% 10.50% 10.28% 10.43% 10.94% 10.59% 10.59%
No. of Shareholders 1,10,4571,30,1611,53,2191,36,5721,39,5121,38,6051,53,3522,03,6542,40,2583,31,1404,65,2828,68,966

* 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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