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 ₹ 22,767 Cr.
- Current Price ₹ 37.7
- High / Low ₹ 39.5 / 22.5
- Stock P/E 45.4
- Book Value ₹ 22.5
- Dividend Yield 0.53 %
- ROCE 8.67 %
- ROE 5.43 %
- Face Value ₹ 1.00
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 2.37% over past five years.
- Company has a low return on equity of 3.99% over last 3 years.
- Promoters have pledged 48.8% of their holding.
- Debtor days have increased from 59.7 to 93.2 days.
- Promoter holding has decreased over last 3 years: -23.6%
- Working capital days have increased from 69.1 days to 145 days
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,133 | 3,687 | 3,732 | 3,849 | 5,128 | 5,846 | 5,694 | 6,707 | 6,852 | 5,299 | 5,804 | 6,402 | 6,513 | |
1,757 | 2,048 | 1,973 | 1,631 | 2,461 | 2,789 | 3,005 | 3,763 | 3,887 | 2,947 | 3,229 | 3,271 | 3,616 | |
Operating Profit | 1,376 | 1,639 | 1,759 | 2,218 | 2,667 | 3,057 | 2,689 | 2,944 | 2,965 | 2,352 | 2,575 | 3,130 | 2,898 |
OPM % | 44% | 44% | 47% | 58% | 52% | 52% | 47% | 44% | 43% | 44% | 44% | 49% | 44% |
123 | 133 | 120 | 113 | 127 | 123 | 295 | 196 | 252 | 189 | 552 | 300 | 376 | |
Interest | 550 | 624 | 760 | 937 | 1,070 | 1,342 | 976 | 1,126 | 1,574 | 1,697 | 1,894 | 1,521 | 1,556 |
Depreciation | 297 | 442 | 477 | 707 | 853 | 855 | 544 | 540 | 468 | 582 | 683 | 832 | 907 |
Profit before tax | 651 | 707 | 642 | 686 | 870 | 984 | 1,464 | 1,473 | 1,175 | 262 | 550 | 1,077 | 810 |
Tax % | 24% | 22% | 28% | 21% | 26% | 27% | 37% | 42% | 39% | 55% | 34% | 33% | |
496 | 554 | 460 | 542 | 640 | 715 | 920 | 850 | 721 | 117 | 361 | 720 | 501 | |
EPS in Rs | 1.49 | 1.67 | 1.38 | 1.54 | 1.82 | 2.04 | 2.62 | 2.42 | 2.05 | 0.33 | 0.60 | 1.19 | 0.83 |
Dividend Payout % | 12% | 24% | 29% | 26% | 22% | 25% | 19% | 10% | 24% | 0% | 0% | 111% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 2% |
3 Years: | -2% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | -3% |
3 Years: | 1% |
TTM: | -28% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 20% |
3 Years: | 46% |
1 Year: | 33% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 6% |
3 Years: | 4% |
Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 2,524 | 2,923 | 3,228 | 4,009 | 4,485 | 4,920 | 5,341 | 5,964 | 6,331 | 6,549 | 11,962 | 12,775 | 12,989 |
7,072 | 8,776 | 11,084 | 12,576 | 15,626 | 13,963 | 13,832 | 16,599 | 9,205 | 19,219 | 16,697 | 16,748 | 18,097 | |
929 | 1,034 | 1,059 | 22,453 | 21,699 | 27,406 | 20,865 | 17,549 | 23,997 | 15,052 | 13,218 | 12,575 | 12,442 | |
Total Liabilities | 10,858 | 13,066 | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,132 |
5,554 | 5,509 | 8,554 | 31,764 | 35,149 | 24,388 | 31,071 | 32,943 | 27,671 | 27,102 | 27,271 | 26,480 | 26,035 | |
CWIP | 2,445 | 4,916 | 4,487 | 4,835 | 4,020 | 6,806 | 5,648 | 3,797 | 403 | 673 | 63 | 8 | 8 |
Investments | 14 | 62 | 15 | 9 | 36 | 146 | 945 | 645 | 4,146 | 4,799 | 4,904 | 5,141 | 7,940 |
2,845 | 2,579 | 2,648 | 2,783 | 2,957 | 15,301 | 2,724 | 3,079 | 7,666 | 8,597 | 10,243 | 11,074 | 10,148 | |
Total Assets | 10,858 | 13,066 | 15,704 | 39,391 | 42,162 | 46,641 | 40,389 | 40,464 | 39,885 | 41,171 | 42,481 | 42,703 | 44,132 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,110 | 1,445 | 1,655 | 1,823 | 2,340 | 3,192 | 2,132 | 2,710 | 3,709 | 867 | 364 | 1,764 | |
-2,673 | -2,243 | -2,394 | -2,297 | -3,144 | -2,981 | -2,621 | -4,081 | -4,932 | -8,176 | -1,553 | -650 | |
1,758 | 699 | 925 | 475 | 671 | -202 | 410 | 1,438 | 1,388 | 7,520 | 589 | -860 | |
Net Cash Flow | 195 | -99 | 186 | 2 | -133 | 9 | -79 | 66 | 165 | 211 | -601 | 253 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 2 | 1 | 1 | 0 | 1 | 4 | 8 | 6 | 23 | 23 | 62 | 93 |
Inventory Days | 193 | 195 | 218 | 304 | 277 | 294 | 246 | 261 | ||||
Days Payable | 244 | 296 | 196 | 304 | 622 | 654 | 296 | 438 | ||||
Cash Conversion Cycle | 2 | -49 | -101 | 22 | 1 | 4 | 8 | 6 | -321 | -336 | 13 | -84 |
Working Capital Days | 7 | -65 | -62 | -105 | -76 | -86 | -320 | -193 | -453 | -17 | 79 | 145 |
ROCE % | 14% | 12% | 10% | 10% | 10% | 12% | 12% | 12% | 14% | 9% | 9% | 9% |
Documents
Announcements
- Intimation Of Analysts / Investors Meet - Regulation 30 Of SEBI (LODR) Regulations, 2015. 27 Nov
- Update On Tolling, Operation, Maintenance And Transfer Of Four Lane Lalitpur-Sagar-Lakhnadon Section From Km 99.005 To Km 415.089 Of NH-44 In The State Of Uttar Pradesh And Madhya Pradesh (TOT Bundle 12)- (The Project). 24 Nov
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Toll Revenue For The Month Of October 2023
8 Nov - Toll Revenue for the month of October 2023 for the subsidiaries & Joint Venture entities of the Company
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
3 Nov - Text transcript of the Earnings Call is now made available on the website of the Company at www.irb.co.in.
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Update On Refinance Activity - IRB Infrastructure Trust
1 Nov - Update provided by IRB Infrastructure Trust - associate of the Company in relation to the Refinance Activity of IRB Infrastructure Trust and press release issued …
Annual reports
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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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Financial Year 2010
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Concalls
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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 2020Transcript PPT
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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
Project Portfolio
Presently, the company operates 1 project on TOT (Toll-operate-transfer) model, 3 projects on BOT (Build-operate-transfer) model and 3 projects on HAM (Hybrid-annuity-model) model for different concession periods.[1]
It operates the largest TOT project viz. Mumbai-Pune expressway. The group has ~20% share of the Golden Quadrilateral highway network under various stages.[2][3]