G R Infraprojects Ltd

GRINFRA

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Market Cap

₹ 9,956 Cr

P/E

9.18

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

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Overview

Detailed Summary

G R Infraprojects Limited is an integrated road EPC company with a strong focus on highways, but it is diversifying into railways, metro, and power transmission sectors.

The company boasts a substantial order book of approximately INR 2,11,149 million, with prospects for increasing to INR 2,54,108 million, securing future revenue streams.

GR Infraprojects is targeting new opportunities in oil and gas EPC, aiming for an additional revenue of INR 1,000 to INR 1,500 crore annually over the next three years.

The company has a solid financial standing with a low debt-equity ratio of 0.03 in the standalone segment and is further strengthened by the strategic transfer of HAM assets to Indus Infra Trust.

Sector

Infrastructure Developers & Operators

Industry

Construction - Civil / Turnkey - Large

Market Cap

9,956 Cr

Volatility

Moderate Risk

P/E Ratio

9.2

Industry P/E

23.2

PEG Ratio

—

P/B Ratio

1.1

52W High

1,589.95

52W Low

902.05

Sales CAGR

-17.66%

-6.30%

1.57%

10Y

14.46%

Profit CAGR

-23.25%

1.97%

3.21%

10Y

25.28%

ROE

TTM

12.34%

16.95%

17.90%

10Y

20.67%

ROCE

TTM

13.16%

18.08%

18.23%

10Y

20.42%

Technicals

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

16

1Y Price Target

1463.09 ▲ 41.09%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
AFCONS	396.05	14,680 Cr	29.22	2.72	0.63	9.32	11.63	2.80
CEMPRO	817.70	14,160 Cr	31.79	6.92	0.24	21.77	26.38	6.68
NCC	157.75	10,155 Cr	12.80	1.35	1.36	10.54	17.27	3.60
GRINFRA	1037.00	9,956 Cr	9.18	1.11	1.21	12.34	13.16	6.73
DBL	440.15	7,270 Cr	19.77	1.26	0.20	6.37	13.21	4.47
WELENT	510.80	7,056 Cr	19.17	2.63	0.58	12.95	15.33	5.98
PNCINFRA	257.60	6,637 Cr	15.97	1.00	0.23	6.28	11.19	5.83

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,478	1,883	2,134	2,485	2,030	1,394	1,695	2,276	1,988	1,602
Expenses	1,871	1,416	1,626	1,945	1,662	1,041	1,325	1,730	1,590	1,215
Operating Profit	607	467	508	540	368	353	370	545	398	387
OPM %	24.51	24.81	23.79	21.74	18.13	25.32	21.82	23.96	20.03	24.16
Other Income	21	26	25	343	20	82	154	136	92	50
Interest	137	145	155	128	103	112	113	121	117	126
Depreciation	60	62	61	61	63	63	61	57	52	51
Profit Before Tax	432	287	316	694	222	260	350	504	321	260
Tax %	28.24	24.36	23.21	20.28	29.81	25.55	25.05	19.99	23.89	27.20
Net Profit	310	217	243	553	156	194	263	403	244	190
EPS in Rs	32.03	22.43	25.08	57.24	16.05	19.96	27.03	41.71	25.21	19.90

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,280	3,182	5,283	6,373	7,844	8,458	9,482	8,980	7,395	7,352
Expenses	2,654	2,569	3,999	4,787	5,994	6,723	6,928	6,858	5,758	5,686
Operating Profit	626	614	1,283	1,586	1,850	1,735	2,554	2,122	1,636	1,666
OPM %	19.08	19.29	24.29	24.89	23.58	20.52	26.93	23.63	22.13	22.66
Other Income	158	40	43	51	70	65	87	415	393	465
Interest	126	66	170	294	362	420	443	565	448	462
Depreciation	69	83	149	189	227	282	246	244	245	234
Profit Before Tax	577	501	1,008	1,154	1,331	1,099	1,952	1,729	1,337	1,435
Tax %	-1.92	18.96	28.88	30.61	28.27	24.29	25.50	23.48	24.03	23.10
Net Profit	588	406	717	801	955	832	1,454	1,323	1,015	1,104
EPS in Rs	—	—	—	—	98.48	85.98	150.30	136.78	104.76	113.86
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.93	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	25	48	48	48	48	48	48	48	48	48
Reserves	513	1,083	1,494	2,181	2,979	3,932	4,763	6,217	7,543	8,443
Borrowings	859	406	673	1,890	2,799	4,525	5,282	5,697	3,817	4,971
Other Liabilities	681	980	897	1,709	1,957	1,585	1,572	1,799	1,533	1,467
Total Liabilities	2,077	2,517	3,112	5,829	7,783	10,091	11,665	13,760	12,942	14,929
Fixed Assets	698	384	615	930	1,029	1,345	1,485	1,438	1,309	1,088
CWIP	28	17	48	43	28	55	59	72	74	150
Investments	55	151	80	9.89	1.91	103	3.15	57	2,122	2,495
Other Assets	1,297	1,966	2,370	4,846	6,725	8,588	10,118	12,193	9,436	11,197
Total Assets	2,077	2,517	3,112	5,829	7,783	10,091	11,665	13,760	12,942	14,929

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	245	680	-371	-244	-267	-457	166	-363	-1,592	-2,032
Cash from Investing Activity	-190	353	-340	-784	-144	-735	-257	-8.85	795	433
Cash from Financing Activity	-38	-585	246	1,004	884	972	311	-20	1,120	1,724
Net Cash Flow	17	448	-465	-24	473	-220	220	-393	323	126

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Aug 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	79.74%	79.74%	79.74%	79.74%	79.74%	74.74%	74.74%	74.71%	74.70%	74.70%	74.70%	74.69%
FIIs	0.50%	0.59%	0.59%	0.69%	0.57%	0.76%	1.40%	2.07%	2.55%	2.85%	2.88%	2.86%
DIIs	16.17%	16.14%	16.14%	15.89%	15.87%	20.61%	20.50%	20.13%	19.78%	19.16%	19.28%	19.41%
Public	3.60%	3.53%	3.53%	3.68%	3.82%	3.89%	3.36%	3.09%	2.97%	3.29%	3.14%	3.05%
Total Shareholders	68,832	67,297	67,297	66,992	68,536	68,620	66,945	64,262	62,035	66,163	64,119	61,914

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 12, 2024	Ritu agarwal	Insider - Promoter Group	Disposal	1,164.79	112.62 Cr	9,66,890	1.00
Mar 12, 2024	Laxmi devi agarwal	Insider - Promoter Group	Disposal	1,164.87	112.63 Cr	9,66,890	0.99
Mar 12, 2024	Suman agarwal	Insider - Promoter Group	Disposal	1,164.79	112.62 Cr	9,66,890	0.99
Mar 12, 2024	Lalita agarwal	Insider - Promoter Group	Disposal	1,164.79	112.62 Cr	9,66,890	1.00
Mar 12, 2024	Kiran agarwal	Insider - Promoter Group	Disposal	1,164.80	112.62 Cr	9,66,890	1.00
Mar 07, 2024	Agarwal ritu	Bulk	Sell	1,171.00	56.61 Cr	4,83,445	0.49
Mar 07, 2024	Suman agarwal	Bulk	Sell	1,171.00	113.22 Cr	9,66,890	0.99
Mar 07, 2024	Laxmi devi agarwal	Bulk	Sell	1,171.07	113.23 Cr	9,66,890	0.99
Mar 07, 2024	Kiran agarwal	Bulk	Sell	1,171.00	113.22 Cr	9,66,890	0.99
Mar 07, 2024	Ritu agarwal	Bulk	Sell	1,171.00	56.61 Cr	4,83,445	0.49

Projection

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Announcements

Last 7 days

Newest

Sentiment

Investor Meet

5 days ago

One-on-One Investor Meetings Scheduled

G R Infraprojects Limited has announced one-on-one meetings with institutional investors on December 16 and 17, 2025, focusing on publicly available information.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

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