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 ₹ 40,914 Cr.
- Current Price ₹ 67.8
- High / Low ₹ 73.1 / 25.0
- Stock P/E 74.8
- Book Value ₹ 22.5
- Dividend Yield 0.29 %
- ROCE 8.67 %
- ROE 5.43 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 3.01 times its book value
- 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: -24.2%
- 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 | 6,968 | |
1,757 | 2,048 | 1,973 | 1,631 | 2,461 | 2,789 | 3,005 | 3,763 | 3,887 | 2,947 | 3,229 | 3,271 | 3,983 | |
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 | 2,984 |
OPM % | 44% | 44% | 47% | 58% | 52% | 52% | 47% | 44% | 43% | 44% | 44% | 49% | 43% |
123 | 133 | 120 | 113 | 127 | 123 | 295 | 196 | 252 | 189 | 552 | 300 | 428 | |
Interest | 550 | 624 | 760 | 937 | 1,070 | 1,342 | 976 | 1,126 | 1,574 | 1,697 | 1,894 | 1,521 | 1,622 |
Depreciation | 297 | 442 | 477 | 707 | 853 | 855 | 544 | 540 | 468 | 582 | 683 | 832 | 943 |
Profit before tax | 651 | 707 | 642 | 686 | 870 | 984 | 1,464 | 1,473 | 1,175 | 262 | 550 | 1,077 | 848 |
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 | 547 | |
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 | 0.91 |
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: | 12% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | -3% |
3 Years: | 1% |
TTM: | -28% |
Stock Price CAGR | |
---|---|
10 Years: | 19% |
5 Years: | 40% |
3 Years: | 86% |
1 Year: | 158% |
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
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Compliance Certificate As Per Regulation 7(3) Of SEBI (LODR) Regulations, 2015
12 Apr - Compliance Certificate as per Regulation 7(3) of SEBI (LODR) Regulations, 2015 for the year ended March 31, 2024.
- Update On Arbitration Regarding IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd. 10 Apr
- Revised Submission Of Proceedings Of Extra-Ordinary General Meeting Held On August 1, 2023 8 Apr
- Revised Submission Of Proceedings Of 25Th Annual General Meeting Held On September 27, 2023 8 Apr
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Toll Revenue For March 2024
8 Apr - Toll Revenue for the Month of March 2024 for the Subsidiaries & Joint ventures entities of the Company
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
from nse
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Financial Year 2011
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Financial Year 2010
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Concalls
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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]