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Gayatri Projects Ltd (GAYAPROJ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532767 NSE: GAYAPROJ Engineering - Construction | Small Cap | Gayatri Projects Share Price

₹21.38 0.32 (1.52%)

As on 12-Oct'26 16:59

Gayatri Projects Ltd (GAYAPROJ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532767 NSE: GAYAPROJ Engineering - Construction | Small Cap | Gayatri Projects Share Price

₹21.38 0.32 (1.52%)

As on 12-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹993 Cr.
Current Price
₹21.4
52-Week Low / High
₹11 / 27
TTM EPS
₹44.8
TTM Sales
₹999 Cr.
Book Value per Share
₹18
P/E Ratio
0.48
Industry PE
22.9
Price to Book (P/B)
1.19
Price to Sales (P/S)
0.99
Higher than its 5-year historical median
EV/EBITDA
6.80
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
134.95%
Outperforms industry median
Return on Assets (ROA)
73.91%
Operating Profit Margin
0.3%
Net Profit Margin
241.13%
Gross Profit Margin
14.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
88.23%
Operating Profit Growth (1 Year)
-
-133.33%
Net Profit Growth (1 Year)
-
1548.33%
Asset Quality
Promoter Holding
23.56%
Pledged shares (%) of Promoter's holding (%)
4.89%
Reserves
₹741 Cr.
Equity
₹92.9 Cr.
Face Value
₹2
All Time Low / High
₹4.54 / 237.55

Gayatri Projects stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is Gayatri Projects Ltd a good quality company?
Gayatri Projects Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Gayatri Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gayatri Projects Ltd vs industry peers?
Gayatri Projects Ltd revenue CAGR is -26.32%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Gayatri Projects Ltd?
Promoters hold 23.56% of the Gayatri Projects Ltd, with 4.89% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Gayatri Projects Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -16.8% based on the current price.

10 Year X-Ray :

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.
Gayatri Projects Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ12.5%16.3%16.6%-2.4%14%-20.1%-45.2%-1.4%-2.1%128.5%-
Value Creation
Index ⓘ
-0.10.20.2-1.20-2.4NA-1.1NA8.2-

Growth Parameters ⓘ

Sales ⓘ2,1152,9123,4633,4273,9013,1021,017680450847999
Sales YoY Gr.-37.7%18.9%-1%13.8%-20.5%-67.2%-33.2%-33.8%88.2%-
Adj EPS ⓘ4.61011.3-3.82.9-44.2-59.40.4-2.63444.9
YoY Gr.-119.2%12.5%-133.8%NA-1650.5%NANA-827.8%NA-
BVPS (₹) ⓘ41.8607150.353.44.1-72.1-74.8-78.730.917.4
Adj Net
Profit ⓘ
81.2188211-71.653.4-827-1,1126.8-49.16362,087
Cash Flow from Ops. ⓘ257237516386229-695-863-112113404-
Debt/CF from Ops. ⓘ88.23.64.98.5-3.7-4.1-32.932.11.3-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-9.7%-26.3%-5.9%88.2%
Adj EPS ⓘ24.9%64.2%NANA
BVPSⓘ-3.3%-10.4%NANA
Share Price -16.7% -15.6% 51.5% 92.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
10.220.217.2-6.35.5-153.7174.7-0.53.4-142.3186.2
Op. Profit
Mgn % ⓘ
15.316.715.812.511.4-12.2-64.66.90.21.64.1
Net Profit
Mgn % ⓘ
3.86.56.1-2.11.4-26.7-109.41-10.975.1208.9
Debt to
Equity ⓘ
2.81.71.421.934.1-2.6-2.6-2.50.9-
Working Cap
Days ⓘ
4483943984504094961,2131,4922,203950946
Cash Conv.
Cycle ⓘ
4847647663114339289491182-655

Valuation of Gayatri Projects - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *72.4040.6372.4072.4072.4072.4072.4072.404.894.89
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,1152,9123,4633,4393,9013,1021,017680450847
Operating Expenses ⓘ + 1,7922,5692,9193,0523,4633,4931,750682449847
Manufacturing Costs9811,2751,8041,7201,8041,916671353320738
Material Costs6249378889931,3601,2938532007832
Employee Cost 539612014314413078402821
Other Costs ⓘ 134262107197154153149892356
Operating Profit ⓘ 323343544386438-391-733-31-0
Operating Profit Margin (%) 15.3%11.8%15.7%11.2%11.2%-12.6%-72.1%-0.4%0.2%-0.0%
Other Income ⓘ + 8246413943316857216140
Exceptional Items ⓘ -150000-141-449-85-281,986
Interest ⓘ 308315316371352365327222321
Depreciation ⓘ 43556691857657494329
Profit Before Tax ⓘ 3820203-3638-961-1,504411242,076
Tax ⓘ 24-625-6-5-300034
Profit After Tax 1426178-3143-958-1,504411242,042
PAT Margin (%) 0.7%0.9%5.1%-0.9%1.1%-30.9%-147.0%6.1%27.5%241.1%
Adjusted EPS (₹)-0.0-1.08.6-3.12.3-51.2-80.42.26.6109.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 5111,0101,173910953-5-1,598-1,555-1,437607
Share Capital ⓘ 35.4537.4437.4437.4437.4437.4437.4437.4437.4437.44
Reserves ⓘ 4769731,136873916-42-1,636-1,593-1,474569
Debt +1,9372,1031,9811,8761,8422,7383,7893,6723,626311
Long Term Debt9781,1441,0317144171490000
Short Term Debt9609599501,1621,4262,5893,7893,6723,626311
Minority Interest0000000000
Trade Payables6618048881,0891,436985446441451309
Others Liabilities ⓘ 1,3341,3432,0441,8331,5271,230930838786872
Total Liabilities ⓘ 4,4435,2616,0875,7085,7594,9483,5663,3973,4272,099

Fixed Assets

Net Fixed Assets ⓘ +39441943945639234827222318077
Gross Block664742827935948977924924924717
Accumulated Depreciation270323389479555628653702745640
CWIP ⓘ 30671729999126
Investments ⓘ 9781,1981,201572565546511363363230
Inventories360293357624815634140148139129
Trade Receivables7551,1341,4601,2791,5191,168824896878483
Cash Equivalents 19724733332928933304125023
Others Assets ⓘ 1,7291,9632,2892,4312,1502,2101,7811,7171,6051,152
Total Assets ⓘ 4,4435,2616,0875,7085,7594,9483,5663,3973,4272,099
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 234213516361228-695-863-110305490
PBT ⓘ 5420203-3645-802-1,049-1715190
Adjustment ⓘ 268447371492451326344266025
Changes in Working Capital ⓘ -48-215-32-95-267-220-158-11894376
Tax Paid ⓘ -39-39-260000000
Cash Flow From Investing Activity ⓘ + -34-30-893111021146261168
Capex -165-56-108-121-27-1321-0-3112
Net Investments -6041-143905198524003
Others ⓘ 191-153342322720214-48
Cash Flow From Financing Activity ⓘ + -217-164-355-683-273425819-141-97-782
Net Proceeds from Shares ⓘ 020000000000
Net Proceeds from Borrowing ⓘ -100-40-85-404-181-87-8-2400-2
Interest Paid ⓘ -236-276-310-365-356-206-133-24-23-340
Dividend Paid ⓘ -9000000000
Others ⓘ 128-484087264719959124-75-440
Net Cash Flow ⓘ -171971-10-35-58111209-224
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)2.733.3716.27-2.944.63N/AN/AN/AN/A0
ROCE (%)9.7711.115.4510.5613.01N/AN/AN/AN/A134.95
Asset Turnover Ratio0.410.60.610.580.680.580.240.20.130.31
PAT to CFO Conversion(x)16.718.192.9N/A5.3N/AN/A-2.682.460.24
Working Capital Days
Receivable Days113.60118.30136.70145.30130.90158357.30462719.70293.30
Inventory Days44.4040.9034.3052.1067.3085.20138.8077.30116.3057.70
Payable Days319.70285.50347.70363.50338.80341.70306.20807.702,100.604,335.70

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Gayatri Projects Ltd FAQs

The current trading price of Gayatri Projects on 12-Oct-2026 16:59 is ₹21.38.

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 11-Oct-2026 the market cap of Gayatri Projects stood at ₹992.7 Cr

The latest P/E ratio of Gayatri Projects as of 11-Oct-2026 is 0.48.

The latest P/B ratio of Gayatri Projects as of 11-Oct-2026 is 1.23.

The 52-week high of Gayatri Projects is ₹27.22 and the 52-week low is ₹11.13.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gayatri Projects is ₹999 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gayatri Projects Ltd is a average quality company.

The key valuation ratios of Gayatri Projects Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

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

About Gayatri Projects Ltd

Gayatri Projects was incorporated as a Private Limited company on September 15, 1989, under the Companies Act, 1956 as Andhra Costal Construction Private Limited in the state of Andhra Pradesh. The name of the company was changed to Gayatri Projects Private Limited with effect from March 31, 1994 and it was converted into a Public limited company with effect from December 2, 1994.

Gayatri Projects Limited (GPL), an ISO 9001 – 2000 company, is one of the fastest growing construction company in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.

The company owns a fleet of construction equipments comprising of heavy earth moving machines such as hydraulic excavators, loaders, dozers, earth compacters, concreting plants such as batching plants, concrete mixers, transit mixers, concrete pavers, road equipment such as vibratory tandem rollers, electric paver finishers, mechanical paver finishers, hot mix plants, static rollers, truck mounted pressure bitumen sprayer, integrated stone crushing plants, quarry equipments like wagon drills, jack hammers, air compressors, transportation equipments such as cars and jeeps, tippers, tractors, water tankers, trailers, fabrication and erection plant such as welding generators, gas cuttings sets, work shop equipments, cranes, generators and other miscellaneous equipments.

GPL is sincerely committed to customer satisfaction in providing consistent quality products and services in construction projects with latest engineering practices under safe ad healthy work environment with continual improvement of Quality Management System involving all employees.

GPL has established a pre-eminent position in the construction industry in India with a current order book of Rs. 2000 cr. The company has completed several projects of national importance like National Thermal Power Corporation, National Aluminium Company, South Eastern Railways, etc. Today, it is associated with clients such as Jindal Vijaynagar Steel, International Airports Authority (Calicut Airport), Kakinada Port Project, Upper Krishna Project in Karnataka, Sardar Sarovar Project in Gujarat and various irrigation projects in Maharashtra Govt. and Orissa Irrigation Department.

GPL is managed by the professional team of the board of directors ably supported by the highly qualified and experienced team of employees. Projects undertaken by the company:

The company has executed various types of civil works like Irrigation projects, national highways, mass excavation, ports, airport construction, etc. amounting to Rs.1410.13 crores during the last five years. Some of them are-

  • Construction of Indi Branch Canal from KM 0.00 to 10.00,
  • Construction of Narmada Main Canal from 168 to KM 177, KM 188 to KM 198, KM 250 to KM 263, Rehabilitation and Modernization of Distributory System of KC Package N4-11A.
  • Construction of Dam 2&3-expansion project for NALCO at Damanjodi,
  • Construction of Raw Water Pond for Jindal Vijayanagaram Steel Limited.
  • Area Grading Roads drains for NFCL phase-II, Kakinada, Site grading and construction of roads drains and ponds at Reliance Petroleum Ltd. Project site, Jamnagar, development of a garment complex at Thane, land development & allied works.
  • Civil Engineering Works in Auxiliary Shops Zone-M of Visakhapatnam Steel Plant valuing Rs.1354 lakh, civil, structural and architectural work at HPCL terminal, Vijayawada valuing Rs.1372.11 lakh.
  • Construction of New BG Railway line in 3 sections i.e. KR-51, KR-55 & KR-57 for Koraput-Rayagada Lane, construction of approach berths and back-up area at Kakinada Port Cont-C2.

The company currently has lots of ongoing projects some of them are- 4-laning from Km.93.00 to Km.60.00 of Bijni to WB Border, Rehabilitation and Upgrading of km.104.000 to Km.170.000 Jhansi, Civil Engineering works for Coal Handling Plant at Visakhapatnam, Neelachal Ispat Nigam Limited - Civil Works of Auxiliary units for Phase-II, Construction of Park Hyatt Hotel at Hyderabad, etc.

The company had entered into various joint ventures to carry on its activities, these include-

  • IJM-Gayatri JV has been formed on December 21, 1998 in the ratio of 60:40.
  • Gayatri-Ranjit JV has been formed on February 2, 2001 in the ratio of 55:45 for the purpose of preparation, submission of prequalification document and performs contract works viz. Kishangarh-Udaipur Section of NH-8 and Udaipur-Ratanpur-Gandhinagar of NH-8.
  • Simplex-Gayatri Consortium has been formed on December 4, 2001 in the ratio of 70:30 for the purpose of submitting an offer for the work of Four Laning of Satara-KolhapurJaiprakash-Gayatri JV has been formed on July 9, 2004 in the ratio of 60:40.
  • RNS-GPL Joint Venture has been formed on May 7, 2005 in the ratio of 50:50 for tendering and execution of work consisting of construction and completion of widening and strengthening of roads from Ramanathapuram to Tuticorn.
  • Gayatri-ECI JV has been formed on August 18, 2005 in the ratio of 75:25 for executing the works for widening and strengthening of existing National Highway,WB from 2-lane to 4-lane.

All of them are unincorporated joint ventures in the nature of partnership.

Awards/Achievements

The company has been awarded ISO 9001:2000 and Q9001-2000 Quality Certificate by American Quality Assurance International, LLC, USA.

2010-11 - Awarded the ISO 9001:2008 Quality Certificates by Amercian Quality Assurance International, LLC, USA.
2012 - Gayatri Projocts Ltd. Launch of New Logo and Brand Guide Lines.

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