GR Infraprojects Ltd - Stock Valuation and Financial Performance

BSE: 543317 | NSE: GRINFRA | Engineering - Construction | Small Cap

GR Infraprojects Share Price

1,314.35 42.70 3.36%
as on 28-Mar'24 13:27

DeciZen - make an informed investing decision on GR Infraprojects

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

GR Infraprojects stock performance -

mw4me loader
P/E Ratio (SA):
18.11
Market Cap:
12,295.5 Cr.
52-wk low:
930
52-wk high:
1,381.6

Is GR Infraprojects Ltd an attractive stock to invest in?

1. Is GR Infraprojects Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that GR Infraprojects Ltd is a good quality company.

2. Is GR Infraprojects Ltd undervalued or overvalued?

The key valuation ratios of GR Infraprojects Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is GR Infraprojects Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of GR Infraprojects Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of GR Infraprojects:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GR Infraprojects Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.8%6.7%16.2%42.8%23.4%24.8%22.2%19.7%16.1%15.5%-
Value Creation
Index
-0.4-0.50.22.20.70.80.70.50.20.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7618771,9283,1703,1054,9506,0287,2447,9198,1487,528
Sales YoY Gr.-15.2%120%64.4%-2.1%59.4%21.8%20.2%9.3%2.9%-
Adj EPS 3.52.910.85039.960.77180.377.686.370.2
YoY Gr.--18.2%275.7%362%-20.1%52%16.9%13.2%-3.4%11.2%-
BVPS (₹) 41.144.156.3117.4158.8220.8291.6372.8451.3539.4589.9
Adj Net
Profit
3528.6105485387588688776750834679
Cash Flow from Ops. -102105295377-4.1652831420561764-
Debt/CF from Ops. -2.72.71.21.1-149.51.61.33.221.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 30.1%21.3%10.6%2.9%
Adj EPS 42.7%16.7%6.7%11.2%
BVPS33.1%27.7%22.8%19.5%
Share Price - - - 38.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
96.821.357.628.93227.724.118.817.412.4
Op. Profit
Mgn %
1310.511.817.118.520.420.718.116.21613.6
Net Profit
Mgn %
4.63.35.415.312.511.911.410.79.510.29
Debt to
Equity
0.70.70.70.40.40.50.40.40.30.2-
Working Cap
Days
214254159135191167171178195210105
Cash Conv.
Cycle
10597353561515251465959

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 10.57%

Return on Equity has declined versus last 3 years average to 12.40%

Net Profit has been subdued in last 3 years 6.74%

Sales growth is not so good in last 4 quarters at -10.36%

Latest Financials - GR Infraprojects Ltd.

Standalone Consolidated
TTM EPS (₹) 70.2 119.9
TTM Sales (₹ Cr.) 7,528 8,956
BVPS (₹.) 589.9 727.8
Reserves (₹ Cr.) 5,655 6,989
P/BV 2.16 1.75
PE 18.11 10.61
From the Market
52 Week Low / High (₹) 930.00 / 1381.60
All Time Low / High (₹) 930.00 / 2277.00
Market Cap (₹ Cr.) 12,295
Equity (₹ Cr.) 48.3
Face Value (₹) 5
Industry PE 42.7

Management X-Ray of GR Infraprojects:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of GR Infraprojects

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales7618771,9283,1703,1054,9506,0287,2447,9198,148
Operating Expenses 6627841,7022,6292,5303,9424,7865,9346,6386,843
Manufacturing Costs217253837001,8981,9032,5522,2172,088
Material Costs3304437082,4652,3101,5872,2302,8153,6993,910
Employee Cost 515483112154347447455586647
Other Costs 6535755266110206113135197
Operating Profit 99922265415751,0081,2421,3101,2811,305
Operating Profit Margin (%) 13.0%10.5%11.7%17.1%18.5%20.4%20.6%18.1%16.2%16.0%
Other Income 12231823526794127135194
Interest 2226395463106146140130107
Depreciation 3543446481138187227282246
Exceptional Items 0001360000-30
Profit Before Tax 55471625834838311,0031,0711,0021,146
Tax 191556083235314291241294
Profit After Tax 3632106583399596689781761852
PAT Margin (%) 4.7%3.7%5.5%18.4%12.9%12.0%11.4%10.8%9.6%10.5%
Adjusted EPS (₹)3.63.210.960.141.261.471.080.778.788.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 4084385461,1391,5402,1402,8273,6044,3645,215
Share Capital 25252448484848484848
Reserves 3834135211,0901,4912,0922,7793,5564,3155,167
Minority Interest0000000000
Debt197192260282451839700896676838
Long Term Debt5749211257292589673608622650
Short Term Debt14014349251592502728855188
Trade Payables1865169226325519557723717867
Others Liabilities 2892897188097509171,1071,135957836
Total Liabilities 9129841,6922,4553,0654,4165,1916,3586,7137,756

Fixed Assets

Gross Block3713683284877971,2201,5292,0592,4602,608
Accumulated Depreciation138173431041823174977139761,170
Net Fixed Assets2341952863836159021,0321,3451,4851,438
CWIP 4212817484328555972
Investments 666722520222925725536432486
Inventories84161762213016147681,0581,022884
Trade Receivables1781462555266518738178987161,881
Cash Equivalents 2364111539237606840542445242
Others Assets3243307115679851,1201,4502,0962,6633,153
Total Assets 9129841,6922,4553,0654,4165,1916,3586,7137,756

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -102105295377-4652831420561764
PBT 55471625834838311,0031,0711,0021,146
Adjustment 484769-33116187303254321248
Changes in Working Capital -18832112-58-478-181-299-637-497-336
Tax Paid -17-21-49-115-124-186-175-269-265-294
Cash Flow From Investing Activity -73-56-315123-632-906-319-925-237-646
Capex -74-12-127-122-282-465-284-507-423-269
Net Investments 0-11-33301-20-204105-145141128
Others 1-32-155-56-331-236-140-27344-504
Cash Flow From Financing Activity 159-1637-18166273-45159-381-126
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 060-73-133223422-34-140
Interest Paid -19-25-29-46-50-72-167-109-97-109
Dividend Paid 0000000000
Others 178366100230314-112246-250123
Net Cash Flow -163417482-46919467-346-57-8
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)9.227.5721.5769.2329.8132.3827.7324.2719.117.78
ROCE (%)13.3510.3824.6652.1729.634.9932.3427.3521.7221.32
Asset Turnover Ratio10.931.441.531.131.321.251.251.211.13
PAT to CFO Conversion(x)-2.833.282.780.65-0.011.091.210.540.740.9
Working Capital Days
Receivable Days79673845695651433758
Inventory Days36512217313442464843
Payable Days23346029449788837174

GR Infraprojects Ltd Stock News

GR Infraprojects Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GR Infraprojects on 28-Mar-2024 13:27 is ₹1,314.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 13:27 the market cap of GR Infraprojects stood at ₹12,295.5.
The latest P/E ratio of GR Infraprojects as of 28-Mar-2024 13:27 is 18.11.
The latest P/B ratio of GR Infraprojects as of 28-Mar-2024 13:27 is 2.16.
The 52-week high of GR Infraprojects is ₹1,381.6 and the 52-week low is ₹930.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GR Infraprojects is ₹7,528 ( Cr.) .

About GR Infraprojects Ltd

G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company with experience in design and construction of various road/highway projects across States in India and having recently diversified into projects in the railway sector. The company’s principal business of civil construction comprises EPC and BOT projects in the road sector. It has, since 2006, executed over 100 road construction projects. It also has experience in constructing state and national highways, bridges, culverts, flyovers, airport runways, tunnels and rail over-bridges. It has over the years developed an established road EPC business and has gradually added facilities to support and supplement its road construction business. As part of its in-house integrated model, it has developed in house resources with key competencies to deliver a project from conceptualization to completion that includes its design and engineering team, three manufacturing units at Udaipur, Rajasthan, Guwahati, Assam and Sandila, Uttar Pradesh for processing bitumen, thermoplastic road-marking paint and road signage and a fabrication and galvanization unit at Ahmedabad, Gujarat for manufacturing metal crash barriers and electric poles.

Business area of the company

The company’s principal business operations are broadly divided into three categories: (i) civil construction activities, under which it provide EPC services; (ii) development of roads, highways on a Build Operate Transfer (BOT) basis, including under annuity and Hybrid Annuity Model (HAM); and (iii) manufacturing activities, under which it process bitumen, manufacture thermoplastic road-marking paint, electric poles and road signage and fabricate and galvanize metal crash barriers.

Awards, accreditations or recognitions

  • 2013: Emerging Companies Excellence Award from the Business Today in association with Yes Bank.
  • 2014: ‘Best Professionally Managed Company’ in the ‘Turnover of Rs 500 to Rs 1,000 crore’ category from the Construction Industry Development Council in the CIDC Vishwakarma Awards 2014.
  • 2015: CIDC Vishwakarma Award 2015 under the ‘Best Construction Projects’ category from the Construction Industry Development Council for the Jodhpur Pali Project, Jodhpur
  • 2016: ET Promising Brand of Udaipur 2016 from The Economic Times.
  • 2018: Certificate of excellence for ‘Outstanding and Inspiring Achievement in Adoption of Technology / Telematics’ at the ATMA Fleet Management Awards.
  • 2019: Awarded ‘Fastest Growing Construction Company (Medium Category)’ at the Construction World Awards, 2019.
  • 2020: Awarded ‘Fastest Growing Construction Company (Large)’ at the 18th Construction World Annual Awards Online.
  • 2021: Awarded at the 12th CIDC Vishwakarma Awards 2021 under the ‘Best Construction Project’ category by the Construction Industry Development Council for the Faridkot - Kotkapura - Bathinda Section of NH -15, Bhatinda.
  • 2021: Awarded at the 12th CIDC Vishwakarma Awards 2021 under the ‘Best Construction Project’ category by the Construction Industry Development Council for the Jaisalmer - Barmer Section of NH - 15 to Two / Four, Barme.

Major events and milestones

  • 1996: Received certificate for commencement of business.
  • 1996: Take-over of business of the then existing partnership firm Gumani Ram Agarwal.
  • 2001: Forayed into the field of development of infrastructure projects
  • 2006: Established a centralized workshop with fabrication facilities at NH 8, Balicha Bypass, Udaipur, for reducing equipment downtime.
  • 2007: Change of name of Company to G R Infraprojects as the activities being undertaken by the company were reflected in broader terms from the new name.
  • 2009: Commenced operations at the bitumen emulsion/PMB manufacturing unit at Kaladwas in Rajasthan, having annual installed capacity of 30,000 MT.
  • 2011: Investment by India Business Excellence Fund I, India Business Excellence Fund and IDFC Investment Advisors Limited in the form of subscription to Equity Shares
  • 2013: Completed construction of the Shillong Bypass Project, approximately 10 months prior to the scheduled date of completion.
  • 2014: Commenced operations at Company’s second bitumen emulsion manufacturing unit at Amingaon, Assam, having annual installed capacity of 30,000 MT.
  • 2015: Commenced operations at its fabrication and galvanisation unit for metal crash barriers at Ahmedabad, Gujarat having installed capacity of 24,000 MT.
  • 2016: First BOT project on hybrid annuity mode for company awarded by NHAI with a Bid Project Cost of Rs 13,670 million.
  • 2017: Sale of controlling stake in two erstwhile subsidiaries of Company namely Jodhpur Pali Expressway and Shillong Expressway.
  • 2018: Awarded company’s first railway project.
  • 2019: Commenced operations at company’s third bitumen emulsion manufacturing unit at Sandila, Uttar Pradesh.
  • 2020: Completed first NHAI HAM project for the four laning of Phagwara - Rupnagar section of NH-344A from km 0.00 (design chainage) to km. 80.820 (design chainage).
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