GMR Power and Urban Infra Ltd (GMRP&UI) AI Stock Analysis

• Market Cap: ₹81.42B
• Dividend Yield: N/A
• Average Volume (3M): 237.75K
• Price to Earnings (P/E): 9.9
• Beta (1Y): 2.53
• Revenue Growth: 18.74%
• EPS Growth: -58.19%
• Country: IN
• Employees: 863
• Sector: Energy
• Sector Strength: 52
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): -2.36
• Shares Outstanding: 781,017,500
• 10 Day Avg. Volume: 140,836
• 30 Day Avg. Volume: 237,745
• PEG Ratio: -1.50
• Price to Book (P/B): 5.28
• Price to Sales (P/S): 1.15
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 5.5
• Revenue Forecast (FY): ₹76.10B

• Rating: 51 Neutral
• Price Target: ₹105.00 ▼(-4.85% Downside)
• Action: Reiterated Date: 10/23/25
• Date: Action: Reiterated 10/23/25

The overall stock score reflects strong financial performance with revenue and profitability growth, but is offset by high financial risk due to leverage and negative equity. The lack of technical analysis data and high P/E ratio further contribute to a moderate score.

Positive Factors

Revenue & Profit Recovery

The company reports solid top-line growth (revenue growth ~13.2%) and a transition from net loss to net income with improving gross and net margins. This improves the sustainability of free cash flows and underpins longer‑term capacity to reinvest, deleverage, and fund operations.

Improving Cash Generation

Operating and free cash flow growth indicate the business is converting earnings into cash more reliably. Healthy FCF-to-net-income supports debt servicing, maintenance capex and strategic investments, reducing reliance on external financing and enhancing medium‑term financial resilience.

Infrastructure Asset Model

As an owner/operator of power generation and infrastructure, the company benefits from long-lived assets, stable demand for electricity and potential contracted or regulated cash flows. This business model supports predictable long-term revenue and barrier-driven competitive positioning.

Negative Factors

High Leverage

Substantial liabilities and negative shareholder equity elevate refinancing and solvency risk. High leverage raises interest burden, constrains capital allocation flexibility, and reduces the firm's ability to absorb macro shocks or fund new projects without additional financing or asset sales.

Earnings Volatility

Historical swings in operating margins and a large EPS decline despite revenue gains suggest earnings are sensitive to cost, utilization or one‑offs. This volatility undermines predictability of cash flow and complicates planning, credit assessment, and long‑term investment decisions.

Cash Conversion Discrepancy

A material difference between operating cash flow and reported net income signals working capital timing or non‑cash items affecting profits. Persistent cash conversion gaps can strain liquidity, obscure free cash flow forecasting and increase reliance on external funding during adverse periods.

GMR Power and Urban Infra Ltd Business Overview & Revenue Model

Company Description

GMR Power and Urban Infra Limited engages in the energy, urban infrastructure, and transportation businesses in India. The company engages in the development, maintenance, and operation of special economic zones; engineering, procurement, and construction contracting activities; and other residual activities comprising investment and management/technical consultancy services. It is also involved in the coal mining and exploration; development and operation of highways; surface transport projects, including roads, railways, metros, and airstrips/runways; and energy and coal trading activities, as well as generates energy through coal, gas, and renewable sources, such as wind and solar energy. The company was incorporated in 2019 and is based in New Delhi, India.

How the Company Makes Money

GMRP&UI generates revenue primarily through its investments in power generation and urban infrastructure projects. The company operates power plants that produce electricity, which is then sold to state utilities and private sector consumers under long-term power purchase agreements (PPAs), ensuring a steady income stream. In addition, GMRP&UI is involved in the development and operation of infrastructure projects, such as toll roads and airports, which generate revenue through user fees and concessions. Strategic partnerships with government entities and private firms enhance its project execution capabilities and provide access to funding. Furthermore, the company may also benefit from ancillary services related to infrastructure management and maintenance, contributing to its overall earnings.

GMR Power and Urban Infra Ltd Financial Statement Overview

Summary

The company shows strong revenue growth and improved profitability, moving from a net loss to net income. However, high debt-to-equity ratio and negative stockholders' equity pose financial risks despite improvements in cash flow and debt reduction.

Income Statement

The company's income statement shows a strong increase in total revenue with a significant improvement in profitability. Gross profit and net profit margins have improved, with the company moving from a net loss to a substantial net income. However, past fluctuations in EBIT and EBITDA margins indicate potential volatility in operational performance.

Balance Sheet

The balance sheet highlights a high debt-to-equity ratio due to substantial liabilities and negative stockholders’ equity, posing financial risk. However, the recent improvement in stockholders' equity and reduction in net debt are positive indicators of improved financial health.

Cash Flow

Cash flow analysis reveals strong growth in operating and free cash flow, reflecting improved cash generation capabilities. The free cash flow to net income ratio is healthy, though the operating cash flow to net income ratio indicates potential discrepancies between profitability and cash generation.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	63.81B	63.44B	44.89B	52.19B	41.02B	25.66B
Gross Profit	25.59B	26.38B	16.27B	5.83B	9.05B	4.87B
EBITDA	25.55B	17.35B	15.95B	26.32B	9.37B	-2.22B
Net Income	1.85B	14.18B	-1.03B	11.83B	-6.48B	-20.58B
Balance Sheet
Total Assets	0.00	169.87B	194.69B	118.03B	140.73B	154.13B
Cash, Cash Equivalents and Short-Term Investments	12.34B	12.34B	7.87B	10.59B	5.83B	6.99B
Total Debt	0.00	102.59B	138.67B	82.16B	104.06B	116.47B
Total Liabilities	-7.18B	162.69B	224.51B	145.44B	163.05B	172.31B
Stockholders Equity	7.18B	5.87B	-29.17B	-26.21B	-21.64B	-17.55B
Cash Flow
Free Cash Flow	0.00	25.62B	15.92B	12.06B	10.63B	-1.13B
Operating Cash Flow	0.00	28.33B	16.90B	12.30B	12.15B	-42.42K
Investing Cash Flow	0.00	-1.59B	-9.03B	30.94B	12.67B	2.58B
Financing Cash Flow	0.00	-24.17B	-13.24B	-38.40B	-22.13B	-16.03B

GMR Power and Urban Infra Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GULFOILLUB	73 Outperform	₹48.32B	19.36	―	3.96%	11.94%	10.23%
KPIGREEN	67 Neutral	₹67.20B	22.48	―	0.20%	70.67%	59.54%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
GMRP&UI	51 Neutral	₹81.42B	9.86	―	―	18.74%	-58.19%
BORORENEW	49 Neutral	₹57.66B	18.86	―	―	7.68%	-114.23%
RTNPOWER	44 Neutral	₹42.32B	23.36	―	―	-5.68%	-99.16%
SWSOLAR	43 Neutral	₹40.68B	-446.21	―	―	112.24%	-474.43%