G R Infraprojects Ltd. (GRINFRA) AI Stock Analysis

• Market Cap: ₹111.24B
• Dividend Yield: 1.11%
• Average Volume (3M): 16.92K
• Price to Earnings (P/E): 10.1
• Beta (1Y): 1.13
• Revenue Growth: -6.01%
• EPS Growth: -3.81%
• Country: IN
• Employees: 14,421
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 13.50
• Shares Outstanding: 96,760,530
• 10 Day Avg. Volume: 4,810
• 30 Day Avg. Volume: 16,923
• PEG Ratio: -0.43
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 1.37
• P/FCF Ratio: -4.64
• 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: 60 Neutral
• Price Target: ₹1,166.00 ▲(3.46% Upside)

The overall stock score of 60 reflects stable financial performance and attractive valuation, offset by bearish technical indicators. The company's operational efficiency and undervaluation are strengths, but declining revenue and negative cash flow are significant risks.

G R Infraprojects Ltd. Business Overview & Revenue Model

Company Description

G R Infraprojects Limited, through its subsidiaries, provides engineering, procurement, and construction services for roads and highway projects in India and internationally. It operates through Engineering Procurement and Construction; Built, Operate and Transfer Projects; and Others segments. The company constructs state and national highways, bridges, culverts, flyovers, airport runways, tunnels, and rail over bridges. It also offers a range of services on a turnkey basis in railway infrastructure projects, such as civil infrastructures, including earthworks, bridges, station buildings, and facilities; new track laying & rehabilitation of existing tracks; railway electrification and power systems; and signaling & telecommunication services. In addition, the company designs, engineering, procures, fabricates, erects, installs, and commissions power transmission lines. Further, it manufactures thermoplastic road-marking paints and road signage; and fabricates and galvanizes metal crash barriers, as well as processes bitumen. The company was formerly known as G.R. Agarwal Builders and Developers Limited and changed its name to G R Infraprojects Limited in August 2007. G R Infraprojects Limited was incorporated in 1995 and is headquartered in Udaipur, India.

How the Company Makes Money

GRINFRA generates revenue primarily through its EPC contracts, where it undertakes large-scale infrastructure projects funded by government and private sector clients. The company bids for projects, often winning contracts based on competitive bidding processes. Key revenue streams include payments from completed projects, milestone payments during project execution, and ongoing maintenance contracts. Additionally, GRINFRA benefits from strategic partnerships with government entities, enabling it to secure long-term contracts. The company also diversifies its income through toll collection on roads it constructs and operates, further enhancing its financial stability.

G R Infraprojects Ltd. Financial Statement Overview

Summary

G R Infraprojects Ltd. shows stable profitability and a strong equity position, with solid EBIT and EBITDA margins. However, declining revenue and negative free cash flow are significant concerns that need addressing for long-term financial health.

Income Statement

G R Infraprojects Ltd. has shown moderate income statement performance. The gross profit margin and net profit margin have been relatively stable, indicating a consistent ability to manage costs. However, there has been a declining trend in revenue over the last two years, which is concerning. The EBIT and EBITDA margins remain solid, reflecting operational efficiency.

Balance Sheet

The company maintains a reasonably strong balance sheet with a healthy equity base. The debt-to-equity ratio has been decreasing, indicating reduced financial leverage, which is a positive sign. The return on equity has been improving, suggesting better profitability relative to shareholder investment. However, the equity ratio, while stable, suggests moderate reliance on debt financing.

Cash Flow

Cash flow analysis reveals some challenges, as the company has consistently reported negative free cash flow. The operating cash flow to net income ratio is concerning, indicating issues in converting reported profits into cash. The company needs to address its cash flow management, despite a positive trend in financing cash inflow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	73.52B	73.95B	89.80B	94.82B	84.58B	78.44B
Gross Profit	24.70B	24.48B	30.43B	33.81B	24.83B	24.33B
EBITDA	21.31B	20.29B	25.24B	26.23B	18.01B	18.95B
Net Income	11.03B	10.14B	13.24B	14.54B	8.32B	9.55B
Balance Sheet
Total Assets	0.00	149.29B	129.42B	137.60B	116.73B	100.91B
Cash, Cash Equivalents and Short-Term Investments	12.26B	16.90B	6.90B	4.20B	6.09B	4.96B
Total Debt	0.00	49.71B	38.17B	56.97B	52.82B	45.25B
Total Liabilities	-85.03B	64.26B	53.39B	74.95B	68.62B	61.10B
Stockholders Equity	85.03B	84.92B	75.92B	62.65B	48.11B	39.81B
Cash Flow
Free Cash Flow	0.00	-21.87B	-17.11B	-6.61B	-2.68B	-9.73B
Operating Cash Flow	0.00	-20.32B	-15.92B	-3.63B	1.66B	-4.57B
Investing Cash Flow	0.00	4.33B	9.48B	-88.48M	-2.57B	-7.35B
Financing Cash Flow	0.00	17.24B	11.20B	-203.37M	3.11B	9.72B

G R Infraprojects Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1127.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRINFRA, the sentiment is Negative. The current price of 1127.05 is below the 20-day moving average (MA) of 1171.82, below the 50-day MA of 1233.84, and below the 200-day MA of 1190.64, indicating a bearish trend. The MACD of -30.45 indicates Positive momentum. The RSI at 30.32 is Neutral, neither overbought nor oversold. The STOCH value of 15.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GRINFRA.

G R Infraprojects Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JKIL	74 Outperform	₹48.13B	11.81	―	0.65%	13.96%	12.91%
POWERMECH	61 Neutral	₹73.31B	22.44	―	0.05%	28.54%	19.19%
GRINFRA	60 Neutral	₹111.24B	10.08	―	1.11%	-6.01%	-3.81%
HGINFRA	57 Neutral	₹59.04B	13.37	―	0.22%	-8.92%	-22.83%
PNCINFRA	57 Neutral	₹72.34B	10.77	―	0.21%	-30.54%	-35.13%
DBL	56 Neutral	₹77.19B	9.55	―	0.21%	-11.92%	141.80%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

G R Infraprojects Ltd. Corporate Events

G R Infraprojects Schedules Earnings Call for Q2 2025

G R Infraprojects Limited has announced an upcoming earnings conference call scheduled for November 11, 2025, to discuss the financial results for the quarter and half year ended September 30, 2025. This call, organized in collaboration with HDFC Securities Limited, will provide insights into the company’s financial performance and strategic direction, potentially impacting investor perceptions and market positioning.

G R Infraprojects Announces Shareholding Realignment

G R Infraprojects Limited announced an inter-se transfer of equity shares among its promoters and promoter group, as per the SEBI SAST Regulations. This realignment of shareholding among family members does not affect the public shareholders’ interests, and the aggregate shareholding and voting rights of the promoter group remain unchanged.

G R Infraprojects Announces Internal Share Transfer Among Promoter Group

G R Infraprojects Limited has announced an inter-se transfer of equity shares among its promoter group companies, as disclosed under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This internal realignment of shareholding among family members does not alter the aggregate shareholding or voting rights of the promoter group, ensuring no impact on public shareholders or the company’s overall market position.

G R Infraprojects Announces Share Transfer Among Promoter Group

G R Infraprojects Limited has announced a proposed inter-se transfer of equity shares by way of gift among immediate relatives, and the Promoter and Promoter Group. This transfer, scheduled for execution on or after September 27, 2025, is part of a realignment of shareholding among family members and will not impact the public shareholders or alter the aggregate shareholding and voting rights of the Promoter Group.

G R Infraprojects Announces Promoter Group Share Realignment

G R Infraprojects Limited has announced an inter-se transfer of equity shares within its promoter group, involving immediate relatives and members of the promoter group, by way of gift. This transfer, scheduled for execution on or after September 27, 2025, is part of a realignment of shareholding among family members and will not affect the company’s voting rights or control, nor will it impact public shareholders.

G R Infraprojects Schedules Virtual AGM, Shares Annual Report

G R Infraprojects Limited has announced the scheduling of its 29th Annual General Meeting (AGM) on September 19, 2025, which will be conducted via video conferencing. The company has sent the AGM notice and the Annual Report for the financial year 2024-2025 electronically to shareholders with registered email addresses. For those without registered emails, the company has provided a web link to access the documents. This move ensures transparency and accessibility for all stakeholders, aligning with regulatory requirements and enhancing shareholder engagement.

G R Infraprojects Secures Major Transmission Project in Madhya Pradesh

G R Infraprojects Ltd. has been awarded a significant contract as the L1 bidder to establish a transmission system for evacuating power from renewable energy projects in Madhya Pradesh. This project, involving the creation and augmentation of transmission infrastructure, underscores the company’s strategic expansion into the renewable energy sector, potentially strengthening its position in the infrastructure industry and offering new opportunities for stakeholders.