IRB Infrastructure Developers Ltd
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]
- Market Cap ₹ 28,118 Cr.
- Current Price ₹ 46.6
- High / Low ₹ 67.3 / 41.0
- Stock P/E 28.2
- Book Value ₹ 32.8
- Dividend Yield 0.64 %
- ROCE 7.82 %
- ROE 5.95 %
- Face Value ₹ 1.00
Pros
- Debtor days have improved from 48.8 to 15.9 days.
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 2.13% over past five years.
- Company has a low return on equity of 5.30% over last 3 years.
- Earnings include an other income of Rs.6,222 Cr.
- Promoter holding has decreased over last 3 years: -3.78%
* 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
Industrials Construction Construction Civil Construction
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Midcap 100 Nifty 200
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,732 | 3,849 | 5,128 | 5,846 | 5,694 | 6,707 | 6,852 | 5,299 | 5,804 | 6,402 | 7,409 | 7,613 | |
1,973 | 1,631 | 2,461 | 2,789 | 3,005 | 3,763 | 3,887 | 2,947 | 3,229 | 3,271 | 4,387 | 4,145 | |
Operating Profit | 1,759 | 2,218 | 2,667 | 3,057 | 2,689 | 2,944 | 2,965 | 2,352 | 2,575 | 3,130 | 3,022 | 3,469 |
OPM % | 47% | 58% | 52% | 52% | 47% | 44% | 43% | 44% | 44% | 49% | 41% | 46% |
120 | 113 | 127 | 123 | 295 | 196 | 252 | 189 | 552 | 300 | 793 | 6,222 | |
Interest | 760 | 937 | 1,070 | 1,342 | 976 | 1,126 | 1,574 | 1,697 | 1,894 | 1,521 | 1,868 | 1,792 |
Depreciation | 477 | 707 | 853 | 855 | 544 | 540 | 468 | 582 | 683 | 832 | 995 | 1,038 |
Profit before tax | 642 | 686 | 870 | 984 | 1,464 | 1,473 | 1,175 | 262 | 550 | 1,077 | 951 | 6,861 |
Tax % | 28% | 21% | 26% | 27% | 37% | 42% | 39% | 55% | 34% | 33% | 36% | 6% |
460 | 542 | 640 | 715 | 920 | 850 | 721 | 117 | 361 | 720 | 606 | 6,481 | |
EPS in Rs | 1.38 | 1.54 | 1.82 | 2.04 | 2.62 | 2.42 | 2.05 | 0.33 | 0.60 | 1.19 | 1.00 | 10.73 |
Dividend Payout % | 29% | 26% | 22% | 25% | 19% | 10% | 24% | 0% | 0% | 17% | 30% | 3% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 2% |
3 Years: | 9% |
TTM: | 3% |
Compounded Profit Growth | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 41% |
TTM: | 68% |
Stock Price CAGR | |
---|---|
10 Years: | 7% |
5 Years: | 31% |
3 Years: | 30% |
1 Year: | -30% |
Return on Equity | |
---|---|
10 Years: | 7% |
5 Years: | 5% |
3 Years: | 5% |
Last Year: | 6% |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 332 | 351 | 351 | 351 | 351 | 351 | 351 | 351 | 604 | 604 | 604 | 604 |
Reserves | 3,228 | 4,009 | 4,485 | 4,920 | 5,341 | 5,964 | 6,331 | 6,549 | 11,962 | 12,775 | 13,141 | 19,223 |
11,084 | 12,576 | 15,626 | 13,963 | 13,832 | 16,599 | 9,205 | 19,219 | 16,697 | 16,748 | 18,653 | 20,599 | |
1,059 | 22,453 | 21,699 | 27,406 | 20,865 | 17,549 | 23,997 | 15,052 | 13,218 | 12,575 | 12,472 | 13,470 | |
Total Liabilities | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,870 | 53,896 |
8,554 | 31,764 | 35,149 | 24,388 | 31,071 | 32,943 | 27,671 | 27,102 | 27,271 | 26,480 | 25,514 | 24,616 | |
CWIP | 4,487 | 4,835 | 4,020 | 6,806 | 5,648 | 3,797 | 403 | 673 | 63 | 8 | 8 | 1 |
Investments | 15 | 9 | 36 | 146 | 945 | 645 | 4,146 | 4,799 | 4,904 | 5,141 | 9,642 | 17,097 |
2,648 | 2,783 | 2,957 | 15,301 | 2,724 | 3,079 | 7,666 | 8,597 | 10,243 | 11,074 | 9,706 | 12,182 | |
Total Assets | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,870 | 53,896 |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,655 | 1,823 | 2,340 | 3,192 | 2,132 | 2,710 | 3,709 | 867 | 364 | 1,764 | 4,054 | 1,971 | |
-2,394 | -2,297 | -3,144 | -2,981 | -2,621 | -4,081 | -4,932 | -8,176 | -1,553 | -650 | -3,644 | 375 | |
925 | 475 | 671 | -202 | 410 | 1,438 | 1,388 | 7,520 | 589 | -860 | -477 | -720 | |
Net Cash Flow | 186 | 2 | -133 | 9 | -79 | 66 | 165 | 211 | -601 | 253 | -68 | 1,627 |
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 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 1 | 0 | 1 | 4 | 8 | 6 | 23 | 23 | 62 | 93 | 37 | 16 |
Inventory Days | 195 | 218 | 304 | 277 | 294 | 246 | 261 | 263 | 40 | |||
Days Payable | 296 | 196 | 304 | 622 | 654 | 296 | 438 | 607 | 62 | |||
Cash Conversion Cycle | -101 | 22 | 1 | 4 | 8 | 6 | -321 | -336 | 13 | -84 | -306 | -6 |
Working Capital Days | -150 | -165 | -161 | -144 | -394 | -265 | -563 | -166 | 3 | 3 | -54 | -62 |
ROCE % | 10% | 10% | 10% | 12% | 12% | 12% | 14% | 9% | 9% | 9% | 9% | 8% |
Documents
Announcements
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Completion Certificate For Palsit Dankuni Project
14 Jul - Palsit Dankuni project receives COD; toll rates up 47%, boosting annual revenue by ~Rs.100 crore.
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Toll Revenue For June 2025
11 Jul - IRB reports 5.34% June and 8% Q1 FY26 toll revenue growth with Rs.545 Cr in June 2025.
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 10 Jul
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 10 Jul
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Update On Non-Binding Offer From IRB Infrastructure Trust To IRB Invit Fund
4 Jul - IRB InvIT Fund to acquire 3 BOT road SPVs for Rs.8,436 crore, expanding O&M order book by Rs.3,100 crore.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Oct 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Oct 2023TranscriptNotesPPTREC
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023Transcript PPT
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Oct 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Aug 2021TranscriptNotesPPT
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Aug 2021Transcript PPT
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Feb 2021TranscriptPPT
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Jan 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Aug 2020TranscriptNotesPPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019TranscriptPPT
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Apr 2019TranscriptPPT
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Feb 2018TranscriptNotesPPT
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]