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

₹ 59.1 1.67%
13 Dec - 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 ₹ 35,697 Cr.
  • Current Price ₹ 59.1
  • High / Low ₹ 78.2 / 37.4
  • Stock P/E 57.9
  • Book Value ₹ 23.1
  • Dividend Yield 0.51 %
  • ROCE 8.96 %
  • ROE 4.38 %
  • Face Value ₹ 1.00
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Pros

  • Debtor days have improved from 64.4 to 37.4 days.
  • Company's working capital requirements have reduced from 86.2 days to 34.6 days

Cons

  • Stock is trading at 2.56 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.01% over past five years.
  • Company has a low return on equity of 4.56% over last 3 years.
  • Promoters have pledged 55.3% of their holding.
  • Promoter holding has decreased over last 3 years: -28.0%

* 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

Part of BSE 400 MidSmallCap Index Nifty Midcap 100 BSE India Infrastructure Index Nifty Midcap 150 Nifty 500 Multicap 50:25:25

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,465 1,279 1,434 1,925 1,343 1,514 1,620 1,634 1,745 1,969 2,061 1,853 1,586
783 637 852 897 702 782 898 910 1,026 1,150 1,307 1,049 903
Operating Profit 682 642 581 1,027 641 732 722 724 719 819 755 804 683
OPM % 47% 50% 41% 53% 48% 48% 45% 44% 41% 42% 37% 43% 43%
39 219 249 71 96 56 79 111 130 109 443 119 166
Interest 477 547 399 385 389 367 373 381 435 433 615 439 434
Depreciation 165 192 189 203 192 215 222 237 233 251 274 255 231
Profit before tax 79 121 242 510 155 206 205 217 182 243 309 229 183
Tax % 47% 40% 28% 29% 45% 31% 37% 38% 47% 23% 39% 39% 46%
42 73 174 363 85 141 130 134 96 187 189 140 100
EPS in Rs 0.12 0.12 0.29 0.60 0.14 0.23 0.22 0.22 0.16 0.31 0.31 0.23 0.17
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
3,687 3,732 3,849 5,128 5,846 5,694 6,707 6,852 5,299 5,804 6,402 7,409 7,469
2,048 1,973 1,631 2,461 2,789 3,005 3,763 3,887 2,947 3,229 3,271 4,387 4,409
Operating Profit 1,639 1,759 2,218 2,667 3,057 2,689 2,944 2,965 2,352 2,575 3,130 3,022 3,060
OPM % 44% 47% 58% 52% 52% 47% 44% 43% 44% 44% 49% 41% 41%
133 120 113 127 123 295 196 252 189 552 300 793 837
Interest 624 760 937 1,070 1,342 976 1,126 1,574 1,697 1,894 1,521 1,868 1,920
Depreciation 442 477 707 853 855 544 540 468 582 683 832 995 1,012
Profit before tax 707 642 686 870 984 1,464 1,473 1,175 262 550 1,077 951 965
Tax % 22% 28% 21% 26% 27% 37% 42% 39% 55% 34% 33% 36%
554 460 542 640 715 920 850 721 117 361 720 606 616
EPS in Rs 1.67 1.38 1.54 1.82 2.04 2.62 2.42 2.05 0.33 0.60 1.19 1.00 1.02
Dividend Payout % 24% 29% 26% 22% 25% 19% 10% 24% 0% 0% 17% 30%
Compounded Sales Growth
10 Years: 7%
5 Years: 2%
3 Years: 12%
TTM: 15%
Compounded Profit Growth
10 Years: 3%
5 Years: -7%
3 Years: 72%
TTM: 23%
Stock Price CAGR
10 Years: 9%
5 Years: 52%
3 Years: 40%
1 Year: 45%
Return on Equity
10 Years: 8%
5 Years: 5%
3 Years: 5%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 332 332 351 351 351 351 351 351 351 604 604 604 604
Reserves 2,923 3,228 4,009 4,485 4,920 5,341 5,964 6,331 6,549 11,962 12,775 13,141 13,332
8,776 11,084 12,576 15,626 13,963 13,832 16,599 9,205 19,219 16,697 16,748 18,653 18,838
1,034 1,059 22,453 21,699 27,406 20,865 17,549 23,997 15,052 13,218 12,575 12,472 12,048
Total Liabilities 13,066 15,704 39,391 42,162 46,641 40,389 40,464 39,885 41,171 42,481 42,703 44,870 44,822
5,509 8,554 31,764 35,149 24,388 31,071 32,943 27,671 27,102 27,271 26,480 25,514 25,106
CWIP 4,916 4,487 4,835 4,020 6,806 5,648 3,797 403 673 63 8 8 14
Investments 62 15 9 36 146 945 645 4,146 4,799 4,904 5,141 9,642 9,213
2,579 2,648 2,783 2,957 15,301 2,724 3,079 7,666 8,597 10,243 11,074 9,706 10,489
Total Assets 13,066 15,704 39,391 42,162 46,641 40,389 40,464 39,885 41,171 42,481 42,703 44,870 44,822

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,445 1,655 1,823 2,340 3,192 2,132 2,710 3,709 867 364 1,764 4,054
-2,243 -2,394 -2,297 -3,144 -2,981 -2,621 -4,081 -4,932 -8,176 -1,553 -650 -3,644
699 925 475 671 -202 410 1,438 1,388 7,520 589 -860 -477
Net Cash Flow -99 186 2 -133 9 -79 66 165 211 -601 253 -68

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 1 1 0 1 4 8 6 23 23 62 93 37
Inventory Days 193 195 218 304 277 294 246 261 263
Days Payable 244 296 196 304 622 654 296 438 607
Cash Conversion Cycle -49 -101 22 1 4 8 6 -321 -336 13 -84 -306
Working Capital Days -65 -62 -105 -76 -86 -320 -193 -453 -17 79 145 35
ROCE % 12% 10% 10% 10% 12% 12% 12% 14% 9% 9% 9% 9%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
34.02% 34.02% 34.20% 34.20% 34.20% 34.20% 34.21% 34.39% 34.39% 34.39% 30.42% 30.42%
48.15% 48.79% 48.65% 48.76% 48.58% 48.52% 48.37% 47.29% 47.16% 47.21% 44.47% 45.99%
5.70% 6.14% 6.50% 6.69% 6.71% 6.98% 6.98% 7.38% 7.85% 7.78% 7.65% 8.10%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
12.12% 11.05% 10.64% 10.34% 10.50% 10.28% 10.43% 10.94% 10.59% 10.59% 17.46% 15.49%
No. of Shareholders 1,53,2191,36,5721,39,5121,38,6051,53,3522,03,6542,40,2583,31,1404,65,2828,68,96616,98,57017,17,191

* 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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