GMR Airports Ltd (GMRAIRPORT) AI Stock Analysis

• Market Cap: ₹1.00T
• Dividend Yield: N/A
• Average Volume (3M): 721.65K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.46
• Revenue Growth: 29.47%
• EPS Growth: 83.38%
• Country: IN
• Employees: 7,227
• Sector: Services
• Sector Strength: N/A
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.04
• Shares Outstanding: 10,558,976,000
• 10 Day Avg. Volume: 215,668
• 30 Day Avg. Volume: 721,653
• PEG Ratio: 3.41
• Price to Book (P/B): -32.26
• Price to Sales (P/S): 7.75
• P/FCF Ratio: -25.26
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: ₹107.00 ▲(3.28% Upside)

The overall stock score is primarily influenced by strong technical momentum, despite poor financial performance and valuation metrics. The company's revenue growth and operational improvements are overshadowed by its financial instability and negative profitability.

Positive Factors

Revenue Growth

The consistent revenue growth indicates a strong market position and effective business model, which can support long-term expansion and profitability.

Operational Efficiency

Improved operational efficiency enhances profitability potential, indicating that the company is managing its resources effectively to support sustainable growth.

Positive Operating Cash Flow

Positive operating cash flow demonstrates the company's ability to generate cash from its core operations, supporting ongoing investments and financial stability.

Negative Factors

High Debt Levels

High debt levels can strain financial flexibility and increase risk, potentially impacting the company's ability to invest in growth and weather economic downturns.

Negative Net Income

Consistent negative net income affects profitability and valuation, indicating challenges in converting revenue growth into sustainable earnings.

Negative Free Cash Flow

Negative free cash flow suggests that the company is investing heavily, but it also indicates pressure on cash management, which could limit financial flexibility.

GMR Airports Ltd Business Overview & Revenue Model

Company Description

GMR Airports Infrastructure Limited operates and develops airports in India. It is also involved in operation of international airports on build, own, operate, and transfer basis. The company was formerly known as GMR Infrastructure Limited and changed its name to GMR Airports Infrastructure Limited in September 2022. GMR Airports Infrastructure Limited was incorporated in 1996 and is based in New Delhi, India.

How the Company Makes Money

GMR Airports Ltd generates revenue through multiple channels, including aeronautical and non-aeronautical services. Aeronautical revenue comes from airlines for landing, parking, and terminal usage fees, which are charged based on the volume of passenger traffic and aircraft movements. Non-aeronautical revenue is derived from retail, food and beverage concessions, advertising, and real estate development within the airport premises. Additionally, the company benefits from partnerships with various stakeholders, including airlines, retail brands, and service providers, which enhance its revenue potential. Investments in airport expansion and modernization projects further bolster its earnings by increasing capacity and improving operational efficiency, ultimately supporting higher passenger traffic and ancillary services.

GMR Airports Ltd Financial Statement Overview

Summary

GMR Airports Ltd shows revenue growth and operational improvements, but persistent net losses and a heavily leveraged balance sheet are significant concerns. The company needs to address its financial leverage and improve profitability for long-term stability.

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	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	31.16B	104.14B	65.57B	85.95B	46.01B	26.62B
Gross Profit	3.64B	39.69B	21.00B	29.66B	21.88B	2.59B
EBITDA	9.04B	47.76B	26.15B	36.73B	21.97B	12.19B
Net Income	-5.33B	-3.93B	-1.79B	-5.59B	-10.23B	-27.97B
Balance Sheet
Total Assets	444.08B	487.57B	441.11B	486.83B	371.10B	499.60B
Cash, Cash Equivalents and Short-Term Investments	59.45B	36.04B	65.33B	56.13B	47.50B	73.35B
Total Debt	314.75B	382.18B	321.57B	358.87B	266.33B	368.58B
Total Liabilities	438.54B	505.46B	431.43B	495.53B	351.92B	486.42B
Stockholders Equity	-10.02B	-25.03B	-7.93B	-21.64B	-8.18B	-17.18B
Cash Flow
Free Cash Flow	-5.33B	-31.97B	-17.22B	-6.44B	1.18B	-16.42B
Operating Cash Flow	-5.33B	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: 103.60
• 50DMA: Positive
• 100DMA: Positive
• 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 103.6 is above the 20-day moving average (MA) of 102.25, above the 50-day MA of 95.46, and above the 200-day MA of 87.35, indicating a bullish trend. The MACD of 2.99 indicates Positive momentum. The RSI at 59.35 is Neutral, neither overbought nor oversold. The STOCH value of 22.46 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
INDUSTOWER	79 Outperform	₹1.04T	11.06	―	―	7.80%	26.53%
IRCTC	72 Outperform	₹574.92B	42.97	―	1.33%	7.66%	14.36%
INDIGO	63 Neutral	₹2.18T	32.49	―	0.19%	12.86%	-23.06%
JSWINFRA	61 Neutral	₹592.12B	37.96	―	0.50%	22.40%	25.69%
GMRAIRPORT	56 Neutral	₹1.00T	-205.55	―	―	29.47%	83.38%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
GVKPIL	41 Neutral	₹5.43B	-0.55	―	―	-67.26%	-278.16%

GMR Airports Ltd Corporate Events

GMR Airports Secures Tariff Stability for Hyderabad Airport

GMR Airports Limited announced that the Airports Economic Regulatory Authority of India (AERA) has approved their request to maintain the current aeronautical tariffs for the Rajiv Gandhi International Airport in Hyderabad for the last quarter of the fiscal year 2025-26. This decision allows the company to continue charging the same rates for landing, parking, and user development fees as in the previous quarters, potentially stabilizing revenue streams and providing consistency for stakeholders.

GMR Airports Limited Submits SEBI Compliance Certificate for Q3 2025

GMR Airports Limited has submitted a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending September 30, 2025. The certificate, issued by their Registrar and Share Transfer Agent, KFin Technologies Limited, confirms the completion of dematerialization requests and the listing of securities on stock exchanges. This compliance ensures the company’s adherence to regulatory requirements, potentially impacting its operational transparency and stakeholder confidence.

GMR Airports Limited Announces Trading Window Closure

GMR Airports Limited has announced the closure of its trading window in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. This closure is effective from the end of business hours on September 30, 2025, and will remain in place until 48 hours after the declaration of the company’s unaudited financial results for the quarter and half-year ending September 30, 2025. This move is part of the company’s commitment to maintaining transparency and fair disclosure of price-sensitive information, which is crucial for its operations and stakeholder trust.