IRB Infrastructure Developers Limited (IRB) AI Stock Analysis

• Market Cap: ₹259.98B
• Dividend Yield: 0.6%
• Average Volume (3M): 739.57K
• Price to Earnings (P/E): 3.9
• Beta (1Y): 2.06
• Revenue Growth: -1.99%
• EPS Growth: 969.06%
• Country: IN
• Employees: 3,180
• Sector: Services
• Sector Strength: N/A
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): N/A
• Shares Outstanding: 6,039,000,000
• 10 Day Avg. Volume: 735,210
• 30 Day Avg. Volume: 739,566
• PEG Ratio: <0.01
• Price to Book (P/B): 1.40
• Price to Sales (P/S): 3.94
• P/FCF Ratio: 14.95
• 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: ₹62.50
• Price Target Upside: 39.85% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 71 Outperform
• Price Target: ₹48.00 ▲(7.41% Upside)

The overall stock score of 71 reflects strong valuation metrics, with a low P/E ratio indicating potential undervaluation. Financial performance is solid, with strong margins and improving equity returns, though high leverage and cash flow volatility are concerns. Technical analysis suggests a neutral to slightly bearish outlook, with the stock trading below its 50-day moving average and negative MACD.

IRB Infrastructure Developers Limited Business Overview & Revenue Model

Company Description

IRB Infrastructure Developers Limited (IRB) is a leading infrastructure development company based in India, primarily engaged in the construction and operation of roads, highways, and other transportation infrastructure projects. Established in 1998, IRB operates across various sectors, including toll roads, highways, bridges, and urban infrastructure, focusing on enhancing connectivity and promoting economic growth. The company also undertakes public-private partnership (PPP) projects, contributing to its portfolio of infrastructure assets.

How the Company Makes Money

IRB Infrastructure Developers Limited generates revenue primarily through the development and operation of toll roads and highways. The company earns income from toll collections on its operated projects, which provide a steady cash flow over the concession period. Additionally, IRB undertakes engineering, procurement, and construction (EPC) contracts for government and private projects, generating further revenue through contract payments. Strategic partnerships with government entities and private investors enhance its project financing capabilities and enable the company to undertake large-scale infrastructure projects. The company also benefits from long-term concession agreements that secure its revenue streams over extended periods.

IRB Infrastructure Developers Limited Financial Statement Overview

Summary

IRB Infrastructure Developers Limited demonstrates strong operational efficiency and profitability with robust margins and improving equity returns. The company's financial stability is supported by a solid balance sheet, albeit with high leverage that needs careful management. While the cash flow position has improved recently, historical volatility requires attention for sustainable growth.

Income Statement

The company shows strong growth with a notable increase in net income over the past year. Gross profit margin and EBIT margin are healthy, indicating efficient operations. However, the revenue growth rate has fluctuated in recent years, showcasing some instability in revenue generation. The EBITDA margin remains solid, reflecting good operational cash flow generation.

Balance Sheet

The balance sheet reflects a strong equity base with an improving equity ratio. The debt-to-equity ratio is moderate, indicating a balanced use of leverage. Return on equity has shown improvement, signaling effective use of shareholders' funds. However, the high level of total debt presents potential risk if not managed properly.

Cash Flow

The cash flow statement indicates positive trends with significant free cash flow growth in the latest year. The operating cash flow to net income ratio is favorable, suggesting good cash conversion from earnings. However, historical fluctuations in free cash flow raise concerns about consistency in cash flow generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	72.41B	70.62B	74.09B	64.02B	58.04B	52.99B
Gross Profit	39.54B	39.63B	41.06B	39.02B	34.23B	31.39B
EBITDA	30.39B	30.51B	33.28B	32.27B	27.94B	25.10B
Net Income	65.43B	64.81B	6.06B	7.20B	3.61B	1.17B
Balance Sheet
Total Assets	0.00	538.96B	449.20B	427.66B	425.67B	411.74B
Cash, Cash Equivalents and Short-Term Investments	34.62B	34.62B	4.98B	32.27B	18.46B	26.51B
Total Debt	0.00	205.99B	186.53B	167.48B	166.97B	192.19B
Total Liabilities	-198.27B	340.69B	311.76B	293.87B	300.01B	342.73B
Stockholders Equity	198.27B	198.27B	137.45B	133.79B	125.66B	69.01B
Cash Flow
Free Cash Flow	0.00	18.59B	38.15B	13.33B	-10.25B	-69.27B
Operating Cash Flow	0.00	19.71B	40.54B	17.64B	3.64B	8.67B
Investing Cash Flow	0.00	3.75B	-36.45B	-6.50B	-15.53B	-81.76B
Financing Cash Flow	0.00	-7.20B	-4.77B	-8.61B	5.89B	75.20B

IRB Infrastructure Developers Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 44.69
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IRB, the sentiment is Positive. The current price of 44.69 is above the 20-day moving average (MA) of 42.59, above the 50-day MA of 43.01, and below the 200-day MA of 47.05, indicating a neutral trend. The MACD of 0.33 indicates Negative momentum. The RSI at 64.28 is Neutral, neither overbought nor oversold. The STOCH value of 80.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:IRB.

IRB Infrastructure Developers Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASHOKA	―	₹53.38B	3.03	―	―	-8.43%	184.27%
IRB	―	₹259.98B	3.95	―	0.60%	-1.99%	969.06%
JKIL	―	₹47.20B	11.54	―	0.64%	17.23%	18.23%
SHANKARA	―	₹3.20B	3.41	―	0.56%	21.30%	13.79%
CAPACITE	―	₹23.00B	11.77	―	―	14.40%	20.33%
GRINFRA	―	₹114.51B	10.38	―	1.06%	-13.83%	-5.72%
Sector *	―	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

IRB Infrastructure Developers Limited Corporate Events

Fitch Affirms IRB Infrastructure’s Ratings at ‘BB+’ with Stable Outlook

Fitch Ratings has affirmed the Long-Term Issuer Default Rating of IRB Infrastructure Developers Limited at ‘BB+’, maintaining a stable outlook. This affirmation, which also applies to the company’s US-dollar senior secured notes, suggests confidence in IRB’s financial stability and operational performance, potentially reassuring investors and stakeholders about the company’s future prospects.

IRB Infrastructure Executes Share Transfer to IRB InvIT Fund

IRB Infrastructure Developers Limited has announced the execution of a share purchase agreement and ancillary agreements for the transfer of 100% equity share capital of three tollway project SPVs to the IRB InvIT Fund, a publicly listed infrastructure investment trust. This transaction, subject to necessary approvals, involves the repayment of subordinated debt and shareholder loans, and it marks a strategic move to streamline operations and potentially enhance the company’s market positioning within the infrastructure investment sector.

IRB Infrastructure Announces AGM and E-Voting Details

IRB Infrastructure Developers Limited announced the publication of a newspaper advertisement regarding the Notice of its 27th Annual General Meeting and e-voting details. This announcement, in compliance with regulatory requirements, highlights the company’s commitment to transparency and shareholder engagement, potentially impacting its corporate governance and investor relations positively.

IRB Infrastructure Developers Announces 27th Annual General Meeting

IRB Infrastructure Developers Limited has announced its 27th Annual General Meeting, scheduled for September 18, 2025, to be conducted via video conferencing. The meeting will address both ordinary and special business, including the adoption of financial statements, the re-appointment of a director, and the ratification of remuneration for auditors. This meeting is significant for stakeholders as it outlines the company’s financial and operational strategies for the upcoming year, reflecting its commitment to transparency and compliance with regulatory requirements.

IRB Infrastructure Reports Q2 Financials, Declares Interim Dividend

IRB Infrastructure Developers Limited announced its financial results for the quarter ending June 30, 2025, and declared an interim dividend of Re. 0.07 per equity share. The company will hold its 27th Annual General Meeting on September 18, 2025, via video conferencing. These developments reflect the company’s ongoing commitment to shareholder value and operational transparency, potentially impacting its market positioning and stakeholder relations positively.