MarketFriction

G R Infraprojects Ltd

NSE GRINFRA · BSE 543317 · Civil Construction
₹790.20 -1.30%
NSE close2026-10-01
52 week range785.00 - 1,309.80
Market cap₹7,898 Cr.
P/E8.41
IPO 2021 · -6% since Price band 20% Delivery 53.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,8832,1342,4852,0301,3941,6942,2761,9881,6022,3082,5002,784
Expenses1,4161,6261,9451,6621,0411,3251,7301,5901,2151,8402,1322,316
Operating Profit467508540368353370545398387468368468
OPM %25%24%22%18%25%22%24%20%24%20%15%17%
Other Income26253432082154136925091110161
Interest145155128103112113121117126153112103
Depreciation626161636361575251494746
Profit before tax287316694222260350504321260356320480
Tax %24%23%20%30%26%25%20%24%27%27%34%25%
Net Profit217243553156194263403244190259210358
EPS in Rs22.4625.1057.2916.0819.9827.0541.7525.2319.9126.7921.3936.93
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,0203,1893,1415,2836,3737,8448,4589,4828,9807,3958,3999,195
Expenses1,7082,5762,5343,9994,7865,9916,7236,9286,8585,7586,7777,504
Operating Profit3116136071,2841,5871,8531,7352,5542,1221,6361,6221,691
OPM %15%19%19%24%25%24%21%27%24%22%19%18%
Other Income9159434351676587415393343411
Interest10512666170295362420443565448508494
Depreciation506983149189227282246244245199193
Profit before tax1655775011,0081,1541,3311,0991,9521,7291,3371,2581,416
Tax %38%-2%19%29%31%28%24%26%23%24%28%
Net Profit1025884067178019558321,4541,3231,0159031,016
EPS in Rs40.76118.2240.8272.0680.5396.0186.04150.42136.90104.8593.31105.02
Dividend Payout %0%0%0%0%0%0%0%0%0%12%3%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%1%-4%25%
Compounded Profit Growth24%-3%-17%-13%
Stock Price CAGR%-16%-12%-33%
Return on Equity20%15%12%9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital252548484848484848484848
Reserves4105131,0831,4942,1812,9793,9324,7636,2177,5438,4439,331
Borrowings9209795318472,1413,2104,5255,2825,6973,8174,9714,872
Other Liabilities3015618557231,4581,5461,5861,5671,7951,5241,4631,786
Total Liabilities1,6562,0772,5173,1125,8297,78310,09111,66013,75712,93214,92516,037
Fixed Assets5476983846159301,0291,3451,4851,4391,3091,0881,103
CWIP73281748432855597276150109
Investments4155151791021033562,1212,4942,371
Other Assets9961,2971,9662,3704,8466,7258,58810,11312,1909,42511,19312,454
Total Assets1,6562,0772,5173,1125,8297,78310,09111,66013,75712,93214,92516,037
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity680-371-244-267-457166-363-1,590-2,042-2,811
Cash from Investing Activity353-340-784-144-735-257-97934221,623
Cash from Financing Activity-5852461,004884972311-201,1201,7351,523
Net Cash Flow448-465-24473-220220-393323115334
Free Cash Flow962-654-710-552-966-256-633-1,687-2,095-2,929
CFO/OP130%-39%-1%-3%-9%28%-0%-60%-109%-150%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days675264393817232417131132
Inventory Days10540
Days Payable7389
Cash Conversion Cycle98364393817232417131132
Working Capital Days-2682711210270478410512499146
ROCE %11%19%44%28%35%27%23%16%22%17%14%12%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters79.74%79.74%74.74%74.74%74.71%74.70%74.70%74.70%74.69%74.69%74.69%74.69%
FIIs0.68%0.57%0.76%1.40%2.07%2.54%2.84%2.88%2.85%2.66%2.31%2.46%
DIIs15.88%15.86%20.61%20.50%20.12%19.77%19.17%19.28%19.41%19.53%19.62%19.48%
Public3.69%3.82%3.90%3.36%3.09%2.97%3.29%3.14%3.05%3.12%3.38%3.38%
No. of Shareholders66,99268,53668,62066,94564,26262,03566,16364,11961,91460,85161,52860,541

Fundamentals

Market Cap₹ 7,898 Cr.
Current Price₹ 816
Stock P/E8.41
Book Value₹ 969
ROCE11.9 %
ROE9.20 %
Dividend Yield0.31 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)25%
Compounded Profit Growth (TTM)-13%
Consolidated figures.
Valuation
Market capRs 7,646 Cr
Enterprise valueRs 11,306 Cr
P/E (TTM)7.53x
Price to book0.82x
Price to sales0.83x
EV / EBITDA5.38x
EV / EBIT5.92x
EV / sales1.23x
Earnings yield13.29%
Dividend yield0.32%
P/E, 3-year average9.34x
P/B, 3-year average1.23x
P/E, 5-year average10.51x
P/B, 5-year average1.66x
Profitability
Operating margin (excl. other income)19.31%
Operating margin (incl. other income)23.39%
EBITDA margin22.87%
Pre-tax margin15.40%
Net profit margin11.05%
Net margin, latest quarter12.83%
ROE10.10%
ROCE12.74%
ROA5.83%
ROE, 3-year average13.94%
ROCE, 3-year average15.57%
ROA, 3-year average7.68%
ROE, 5-year average17.40%
ROCE, 5-year average16.96%
ROA, 5-year average8.43%
ROIC (approx.)10.51%
Tax rate28.23%
Other income / net worth3.65%
Growth
Sales growth (latest year)13.58%
Profit growth (latest year)-10.99%
Sales CAGR, 3 years-3.96%
Sales CAGR, 5 years1.38%
Profit CAGR, 3 years-14.70%
Profit CAGR, 5 years-1.11%
Sales growth QoQ11.35%
Profit growth QoQ72.63%
Sales growth YoY (latest quarter)40.06%
Profit growth YoY (latest quarter)46.39%
Per share
EPS (TTM)Rs 105.01
EPS (latest year)Rs 93.31
EPS (latest quarter)Rs 36.93
EPS, 3-year averageRs 111.69
EPS, 5-year averageRs 114.30
Book value per shareRs 969.37
Sales per shareRs 950.28
Cash flow per shareRs -290.56
Free cash flow per shareRs -302.71
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 7.50
Dividend per share, 5-year averageRs 7.50
Dividends
Dividend payout2.68%
Dividend payout, 3-year average7.30%
Dividend payout, 5-year average7.30%
Efficiency
Asset turnover0.52x
Fixed asset turnover7.61x
Inventory turnover5.92x
Inventory days62 days
Debtor days32 days
Debtors turnover11.27x
Creditor days89 days
Cash conversion cycle32 days
Working capital days146 days
Leverage
Total debtRs 4,872 Cr
Cash and bankRs 1,212 Cr
Net debtRs 3,660 Cr
Debt to equity0.52x
Net debt / EBITDA1.74x
Interest coverage3.87x
Current ratio (filing 2026-03-31)3.54x
Quick ratio (filing 2026-03-31)3.02x
Trade payables (filing 2026-03-31)Rs 1,105 Cr
Owners' fund to total sources58.49%
Debt to assets30.38%
Cash flow
Cash from Operating Activity (latest year)Rs -2,811 Cr
Cash from Investing Activity (latest year)Rs 1,623 Cr
Cash from Financing Activity (latest year)Rs 1,523 Cr
Net Cash Flow (latest year)Rs 334 Cr
Free cash flow (latest year)Rs -2,929 Cr
FCFE (approx.: FCF + change in debt)Rs -3,028 Cr
Cash from ops / profit, 5 years-1.20x
Statement figures
Net sales (TTM)Rs 9,195 Cr
Net sales (latest year)Rs 8,399 Cr
Sales (latest quarter)Rs 2,784 Cr
Operating profit excl. other income (latest year)Rs 1,622 Cr
Operating profit (latest quarter)Rs 468 Cr
Other income (TTM)Rs 411 Cr
EBITDA (TTM)Rs 2,103 Cr
PBDT (TTM)Rs 1,609 Cr
Profit before tax (TTM)Rs 1,416 Cr
Tax (latest year)Rs 355 Cr
Net profit (TTM)Rs 1,016 Cr
Net profit (latest year)Rs 903 Cr
Net profit (latest quarter)Rs 357 Cr
Depreciation (TTM)Rs 193 Cr
Depreciation (latest quarter)Rs 46 Cr
Interest (TTM)Rs 494 Cr
Cost of goods sold (latest year)Rs 5,843 Cr
Total expenditure (latest year)Rs 6,777 Cr
Total income (latest year)Rs 8,741 Cr
Share capitalRs 48 Cr
ReservesRs 9,331 Cr
Shareholders' fundsRs 9,380 Cr
Total assetsRs 16,037 Cr
Net blockRs 1,103 Cr
Capital work in progressRs 109 Cr
InvestmentsRs 2,371 Cr
ReceivablesRs 745 Cr
InventoryRs 986 Cr
Other liabilitiesRs 1,786 Cr
Shares outstanding (crore)9.68
Ownership
Promoter holding74.69% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 7.5 is at the 5th percentile of its own 5.3-year range (median 11.0, low 6.9, high 19.9).
P/B 0.82 is the lowest in 5.3 years (median 1.97).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGRINFRANifty 50Difference
1 week-2.5%-2.8% +0.3 pts
1 month-10.5%-6.8% -3.7 pts
3 months-13.4%-7.6% -5.8 pts
6 months-0.7%+0.4% -1.1 pts
1 year-37.9%-9.9% -27.9 pts
2 years-52.6%-13.6% -39.0 pts
3 years-34.6%+14.2% -48.7 pts
5 years-59.1%+27.9% -87.0 pts
34 mutual fund schemes hold about ₹1,624 Cr. Over three months 28 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Multi Cap Fund0.71%207 +2%
SBI Large & Midcap Fund0.47%198 +7%
SBI Contra Fund0.33%158 +10%
HDFC Small Cap Fund0.31%131 +7%
Kotak Small Cap Fund0.60%119 +5%
Nippon India Small Cap Fund0.13%104 +5%
UTI Large & Mid Cap Fund1.03%67 +12%
UTI Aggressive Hybrid Fund0.84%57 +12%
Tata Mid Cap Fund0.89%55 +4%
HDFC Infrastructure Fund2.15%50 +16%
SBI Conservative Hybrid Fund(Q0.47%48 +9%
SBI Infrastructure Fund0.91%44 +11%
ICICI Pru Small Cap Fund0.41%40 +5%
ICICI Pru Small Cap Fund0.41%39 +5%
Tata Infrastructure Fund1.64%34 +15%
Tata Infrastructure Fund1.64%33 +15%
Kotak Infra & Eco Reform Fund1.27%32 +8%
Kotak Infra & Eco Reform Fund1.27%31 +8%
Invesco India Infrastructure Fund1.70%26 +12%
Tata Flexi Cap Fund0.60%22 +10%
UTI Retirement Fund0.40%19 +16%
UTI Small Cap Fund0.35%19 +6%
UTI Infrastructure Fund0.83%18 +14%
HDFC Business Cycle Fund0.54%15 +8%
HDFC Equity Savings Fund0.14%8 +8%

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -199% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 23% of total assets in 2026
lookInventory outrunning sales Inventory grew 83% vs sales +14% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹2,784 Cr +40.0% vs Jun 2025. Net profit ₹358 Cr +46.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-02-18Interim Dividend - Rs 2.50 Per Share
2025-03-13Interim Dividend - Rs 12.50 Per Share
2022-11-17Interim Dividend
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of G R Infraprojects Ltd?

G R Infraprojects Ltd (GRINFRA) has a market capitalisation of Rs 7,898 Cr. at the 2026-10-01 close.

What is the P/E ratio of G R Infraprojects Ltd?

G R Infraprojects Ltd trades at a P/E of 8.41 on trailing twelve-month profit, at the 2026-10-01 close.

What were G R Infraprojects Ltd's latest quarterly results?

In the Jun 2026 quarter, G R Infraprojects Ltd sales was Rs 2,784 Cr (+40.0% vs Jun 2025) and net profit was Rs 358 Cr.

What is the 52-week high and low of G R Infraprojects Ltd?

The 52-week high is Rs 1,309.80 and the 52-week low is Rs 785.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03