IRB Infrastructure Developers Limited (IRB) AI Stock Analysis

• Market Cap: ₹250.68B
• Dividend Yield: 0.64%
• Average Volume (3M): 685.37K
• Price to Earnings (P/E): 3.8
• Beta (1Y): 2.09
• 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): 0.32
• Shares Outstanding: 6,039,000,000
• 10 Day Avg. Volume: 545,449
• 30 Day Avg. Volume: 685,369
• 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: ₹56.67
• Price Target Upside: 35.74% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 52 Neutral
• Price Target: ₹45.00 ▲(7.78% Upside)

The overall stock score reflects a combination of strong financial performance and significant technical challenges. While IRB Infrastructure Developers Limited shows strong operational efficiency and profitability, the technical indicators point to a bearish trend with potential downward pressure. Additionally, the high P/E ratio indicates that the stock may be overvalued, which, combined with a low dividend yield, contributes to a more cautious outlook.

IRB Infrastructure Developers Limited Business Overview & Revenue Model

Company Description

IRB Infrastructure Developers Limited engages in the construction, development, operation, and maintenance of roads and highways on build-operate-transfer (BOT) basis in India. It operates through two segments, BOT/ Toll Operate and Transfer Projects, and Construction. The company is also involved in real estate development; generation and sale of electricity through windmill; and hospitality and airport infrastructure activities. It has 23 projects with 12,975 lane kilometers of roads and highways. The company was incorporated in 1998 and is based in Mumbai, India. IRB Infrastructure Developers Limited is a subsidiary of Mhaiskar Ventures Private Limited.

How the Company Makes Money

IRB Infrastructure Developers Limited generates revenue primarily through its toll collection operations from its extensive portfolio of highway and road projects built under the BOT model. The company invests in the construction and maintenance of highways, and in return, it is granted the rights to collect tolls over a concession period, which serves as a primary revenue stream. Besides toll revenues, IRB also earns from construction contracts and government annuity payments for specific projects. Strategic partnerships with government bodies and financial institutions further bolster its financial performance, enabling it to secure and manage large-scale infrastructure projects.

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: Negative
• Last Price: 41.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IRB, the sentiment is Negative. The current price of 41.75 is below the 20-day moving average (MA) of 42.42, below the 50-day MA of 43.40, and below the 200-day MA of 47.85, indicating a bearish trend. The MACD of -0.54 indicates Negative momentum. The RSI at 46.78 is Neutral, neither overbought nor oversold. The STOCH value of 59.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	75 Outperform	₹52.45B	2.94	―	―	-8.43%	184.27%
JKIL	74 Outperform	₹48.74B	11.95	―	0.62%	17.23%	18.23%
SHANKARA	66 Neutral	₹3.60B	3.85	―	0.50%	21.30%	13.79%
CAPACITE	64 Neutral	₹22.94B	12.11	―	―	14.40%	20.33%
GRINFRA	64 Neutral	₹119.29B	10.81	―	1.01%	-13.83%	-5.72%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
IRB	52 Neutral	₹250.68B	3.83	―	0.64%	-1.99%	969.06%

IRB Infrastructure Developers Limited Corporate Events

IRB Infrastructure’s Palsit Dankuni Project Receives Completion Certificate, Boosting Toll Revenue

IRB Infrastructure Developers Limited announced that its project, Palsit Dankuni Tollway Pvt. Ltd., has received a Completion Certificate from the National Highways Authority of India (NHAI). This milestone allows the company to begin toll collection at revised rates, with an expected 47% increase in toll revenue, potentially boosting annual revenue by approximately ₹100 crore. The project involves the expansion of a 63.83 km section of NH19 in West Bengal from four to six lanes, representing the company’s first venture in the state. The project, costing ₹2,403 crore, has a concession period of 17 years, and is anticipated to enhance commuting experiences while strengthening IRB’s market position in the region.