GMR Airports Ltd (GMRAIRPORT) AI Stock Analysis

• Market Cap: ₹919.90B
• Dividend Yield: N/A
• Average Volume (3M): 351.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.40
• Revenue Growth: 22.74%
• EPS Growth: 58.39%
• Country: IN
• Employees: 7,227
• Sector: Services
• Sector Strength: N/A
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.20
• Shares Outstanding: 10,558,976,000
• 10 Day Avg. Volume: 314,618
• 30 Day Avg. Volume: 351,147
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹88.00
• Price Target Upside: 0.55% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 49 Neutral
• Price Target: ₹88.00 ▲(0.55% Upside)

GMR Airports Ltd faces significant financial challenges with high leverage and persistent net losses, impacting its overall score. Technical indicators suggest weak momentum, and poor valuation metrics further weigh down the score. The company's revenue growth and operational improvements offer some potential for future recovery if financial issues are addressed.

Positive Factors

Revenue Growth

The consistent revenue growth indicates strong market demand and effective business strategies, which can support long-term expansion and competitiveness.

Operational Efficiency

Improved operational efficiency through better EBIT and EBITDA margins suggests effective cost management, enhancing long-term profitability potential.

Cash Flow Management

Positive operating cash flow indicates the company's ability to generate cash from operations, essential for sustaining business activities and funding growth.

Negative Factors

High Leverage

High leverage with negative equity raises financial risk, limiting flexibility and potentially impacting future investment and growth opportunities.

Net Losses

Persistent net losses undermine profitability and can erode investor confidence, necessitating strategic changes to achieve financial stability.

Negative Free Cash Flow

Negative free cash flow indicates that capital expenditures exceed cash generated, potentially straining financial resources and limiting future investment capacity.

GMR Airports Ltd Business Overview & Revenue Model

Company Description

GMR Airports Ltd (GMRAIRPORT) is a prominent player in the global aviation infrastructure sector, specializing in the development, operation, and management of airports. As part of the GMR Group, the company operates a portfolio of airports in India and abroad, providing services that range from passenger handling to cargo operations. GMRAIRPORT is known for its emphasis on creating world-class airport facilities that enhance passenger experience and operational efficiency.

How the Company Makes Money

GMR Airports Ltd generates revenue primarily through a combination of aeronautical and non-aeronautical services. Aeronautical revenue is derived from charges to airlines for the use of airport facilities, such as landing, parking, and passenger service fees. Non-aeronautical revenue streams include retail concessions, advertising, car parking, property leasing, and cargo handling. The company also engages in strategic partnerships and alliances to enhance its service offerings and expand its global footprint, contributing to its revenue growth. Additionally, GMRAIRPORT may benefit from public-private partnerships and government contracts for airport development and management.

GMR Airports Ltd Financial Statement Overview

Summary

GMR Airports Ltd shows revenue growth and operational improvements, but struggles with persistent net losses and a heavily leveraged balance sheet. The company is characterized by high debt levels and negative equity, indicating financial instability. Positive operating cash flow is overshadowed by negative free cash flow due to heavy capital expenditures.

Income Statement

GMR Airports Ltd shows a consistent growth in total revenue over the past few years, with a notable increase from 65.57B in 2023 to 104.14B in 2025. However, the company struggles with net income, reporting negative values consistently, which affects its net profit margin. The gross profit margin is relatively stable, indicating efficient core operations. The EBIT and EBITDA margins have improved, suggesting better operational efficiency, but the negative net income remains a significant concern.

Balance Sheet

The company has a high level of debt, as evidenced by a negative stockholders' equity, resulting in a concerning debt-to-equity ratio. Total liabilities consistently exceed total assets, which implies financial instability. The negative equity ratio further highlights the company's reliance on debt financing. Return on equity cannot be calculated due to negative equity, indicating a need for improved financial structure.

Cash Flow

The operating cash flow is positive, which is a good sign, but the company is experiencing negative free cash flow due to significant capital expenditures. The free cash flow to net income ratio cannot be assessed properly due to negative net income. The trend shows the company is investing heavily, potentially for future growth, but current cash flow management is under pressure.

Breakdown	TTM	Mar 2025	Mar 2023	Mar 2024	Mar 2022	Mar 2021
Income Statement
Total Revenue	73.60B	104.14B	65.57B	85.95B	46.01B	26.62B
Gross Profit	20.44B	39.69B	21.00B	29.66B	21.88B	2.59B
EBITDA	19.04B	47.76B	26.15B	36.73B	21.97B	12.19B
Net Income	-8.80B	-3.93B	-1.79B	-5.59B	-10.23B	-27.97B
Balance Sheet
Total Assets	0.00	487.57B	441.11B	486.83B	371.10B	499.60B
Cash, Cash Equivalents and Short-Term Investments	0.00	36.04B	65.33B	56.13B	47.50B	73.35B
Total Debt	0.00	382.18B	321.57B	358.87B	266.33B	368.58B
Total Liabilities	0.00	505.46B	431.43B	495.53B	351.92B	486.42B
Stockholders Equity	0.00	-25.03B	-7.93B	-21.64B	-8.18B	-17.18B
Cash Flow
Free Cash Flow	-8.81B	-31.97B	-17.22B	-6.44B	1.18B	-16.42B
Operating Cash Flow	-8.81B	9.32B	21.99B	38.80B	32.56B	34.30M
Investing Cash Flow	0.00	-41.55B	-24.22B	-57.88B	-18.97B	24.33B
Financing Cash Flow	0.00	19.83B	17.31B	4.67B	-38.94B	-10.56B

GMR Airports Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 87.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GMRAIRPORT, the sentiment is Positive. The current price of 87.52 is below the 20-day moving average (MA) of 88.07, below the 50-day MA of 89.83, and above the 200-day MA of 82.41, indicating a neutral trend. The MACD of -0.79 indicates Positive momentum. The RSI at 46.75 is Neutral, neither overbought nor oversold. The STOCH value of 60.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GMRAIRPORT.

GMR Airports Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRCTC	69 Neutral	₹575.32B	43.00		1.11%	7.48%	12.75%
JSWINFRA	68 Neutral	₹641.27B	40.77		0.43%	20.43%	39.34%
INDUSTOWER	66 Neutral	₹922.40B	9.50		―	6.54%	49.94%
INDIGO	63 Neutral	₹2.17T	32.38		0.18%	13.84%	-14.26%
GVKPIL	56 Neutral	₹5.78B	1.01		―	-18.36%	-135.71%
Sector *	56 Neutral	$13.59B	17.77	10.03%	0.92%	7.13%	-12.93%
GMRAIRPORT	49 Neutral	₹919.90B	―		―	22.74%	58.39%

GMR Airports Ltd Corporate Events

GMR Airports Secures Contract for Cargo City Development at Delhi Airport

GMR Airports Limited has received a Letter of Intent to Award from Delhi International Airport Limited, indicating that it has been selected to finance, design, develop, construct, operate, manage, and maintain the Cargo City at Indira Gandhi International Airport, New Delhi. The project, which spans 50.5 acres and includes a potential additional 10-acre parcel, is based on a revenue share payment model with a minimum monthly guarantee to DIAL, initially set to run until 2036 with a possible extension of 30 years. This development is a related party transaction conducted on an arm’s length basis, with necessary approvals obtained in accordance with SEBI regulations.

GMR Airports Expands Non-Aeronautical Operations in Greece

GMR Airports Limited has announced the acquisition of a 60% stake in GMR Terna Commercial S.A., a company based in Athens, Greece, through its wholly-owned subsidiary, GMR Airports Greece Single Member S.A. This acquisition, involving a subscription of 600,000 shares valued at Euro 600,000, aims to enhance GMR’s non-aeronautical business operations at the Crete Airport in Kasteli, Greece. The move is expected to strengthen GMR’s airport-related business portfolio, with no related party transactions or regulatory approvals required.

GMR Airports Limited Announces Financial Results and Strategic Bond Issuance

GMR Airports Limited announced the approval of its un-audited financial results for the quarter ending June 30, 2025, and plans to issue INR denominated Non-Convertible Bonds up to INR 6000 crores for refinancing existing bonds. Additionally, the company appointed V Sreedharan & Associates as the Secretarial Auditor for a five-year term, pending shareholder approval, indicating a strategic move to strengthen its financial and governance frameworks.

GMR Airports Limited Reports Strong Q1FY26 Performance and Strategic Expansions

GMR Airports Limited reported a strong financial performance for the quarter ended June 30, 2025, with a 32% year-over-year increase in total income to INR 3,321 crore and a 26% rise in EBITDA to INR 1,280 crore. Key developments include a new tariff order for Delhi International Airport, significant passenger traffic growth, and strategic expansions into airport adjacency businesses such as cargo and duty-free operations. These advancements are expected to enhance the company’s financials and strengthen its market position.