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 ₹ 25,515 Cr.
- Current Price ₹ 42.2
- High / Low ₹ 65.5 / 41.0
- Stock P/E 30.6
- Book Value ₹ 32.8
- Dividend Yield 0.71 %
- ROCE 7.82 %
- ROE 5.91 %
- 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 5.29% over last 3 years.
- Promoters have pledged or encumbered 55.5% of their holding.
- Earnings include an other income of Rs.6,169 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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,732 | 3,849 | 5,128 | 5,846 | 5,694 | 6,707 | 6,852 | 5,299 | 5,804 | 6,402 | 7,409 | 7,613 | 7,859 | |
1,973 | 1,631 | 2,461 | 2,789 | 3,005 | 3,763 | 3,887 | 2,947 | 3,229 | 3,271 | 4,387 | 4,141 | 4,242 | |
Operating Profit | 1,759 | 2,218 | 2,667 | 3,057 | 2,689 | 2,944 | 2,965 | 2,352 | 2,575 | 3,130 | 3,022 | 3,472 | 3,617 |
OPM % | 47% | 58% | 52% | 52% | 47% | 44% | 43% | 44% | 44% | 49% | 41% | 46% | 46% |
120 | 113 | 127 | 123 | 295 | 196 | 252 | 189 | 552 | 300 | 793 | 6,222 | 6,169 | |
Interest | 760 | 937 | 1,070 | 1,342 | 976 | 1,126 | 1,574 | 1,697 | 1,894 | 1,521 | 1,868 | 1,795 | 1,815 |
Depreciation | 477 | 707 | 853 | 855 | 544 | 540 | 468 | 582 | 683 | 832 | 995 | 1,038 | 1,052 |
Profit before tax | 642 | 686 | 870 | 984 | 1,464 | 1,473 | 1,175 | 262 | 550 | 1,077 | 951 | 6,861 | 6,919 |
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 | 6,543 | |
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 | 10.85 |
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: | 36% |
Stock Price CAGR | |
---|---|
10 Years: | 7% |
5 Years: | 28% |
3 Years: | 21% |
1 Year: | -32% |
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 | 13,423 | |
Total Liabilities | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,870 | 53,849 |
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 | 12,135 | |
Total Assets | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,870 | 53,849 |
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 | 206 | |||
Days Payable | 296 | 196 | 304 | 622 | 654 | 296 | 438 | 607 | 317 | |||
Cash Conversion Cycle | -101 | 22 | 1 | 4 | 8 | 6 | -321 | -336 | 13 | -84 | -306 | -95 |
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
-
Toll Revenue For August 2025
9h - Aggregate toll revenue Rs.563 crore in August 2025, up 12% YoY (Rs.5,632m vs Rs.5,026m).
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 5 Sep
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 5 Sep
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 5 Sep
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 5 Sep
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from nse
Concalls
-
Aug 2025TranscriptPPTREC
-
May 2025Transcript PPT
-
Feb 2025Transcript PPT
-
Oct 2024Transcript PPT
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT
-
Feb 2024TranscriptNotesPPT
-
Oct 2023TranscriptNotesPPTREC
-
Aug 2023TranscriptPPT
-
May 2023TranscriptPPT
-
Feb 2023Transcript PPT
-
Oct 2022Transcript PPT
-
Aug 2022Transcript PPT
-
May 2022Transcript PPT
-
Aug 2021TranscriptNotesPPT
-
Aug 2021Transcript PPT
-
Feb 2021TranscriptPPT
-
Jan 2021TranscriptPPT
-
Nov 2020TranscriptPPT
-
Sep 2020TranscriptPPT
-
Aug 2020TranscriptNotesPPT
-
Oct 2019TranscriptPPT
-
Aug 2019TranscriptPPT
-
May 2019TranscriptPPT
-
Apr 2019TranscriptPPT
-
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]