GRINFRA · G R Infraprojects Ltd · Construction Services
GRINFRA · G R Infraprojects Ltd · Construction Services
As of 05 Nov close
52-week range
34.4% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹2,784 Cr
Revenue YoY
PAT YoY
+46.4%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
0.9
P/S (TTM)
0.9
Sector P/E
10.8
Dividend yield
+0.3%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| GRINFRA (this stock) | 8.7 | 0.9 | +11.1% | +10.8% | 0.52 | +0.3% |
| DLF | 34.5 | 3.5 | +65.8% | +9.8% | 0.01 | +1.2% |
| Lodha Developers | 23.1 | 4.6 | +22.7% | +17.7% | 0.42 | +0.4% |
| Indus Towers | 14.4 | 2.4 | +21.8% | +17.3% | 0.52 | +3.6% |
Promoter
stable
FII
rising 1q
MF
17.97% (-1.56pp)
falling 1q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- unknowneconomictimes.indiatimes.com· 31 Aug 2026, 09:42 amAnnu Projects IPO allotment likely today; Here's how to check your status
- lowbusiness-standard.com· 25 Aug 2026, 09:30 amAnnu Projects IPO kicks off: Why analysts are split on this EPC infra firm
Concalls & investor presentations
AI-generatedKey takeaway: During the Q1 FY27 earnings conference call, G R Infraprojects Limited reported a revenue from operations of approximately INR 2,423 crores, reflecting a year-over-year growth of 32.71%. The adjusted EBITDA margin decreased to 11.01% from 12.17% in the previous year, attributed to higher construction and material costs. The company maintained a strong debt-to-equity ratio of 0.03 and reported an order book of approximately INR 25,300 crores. Management highlighted opportunities across various sectors, including metro rail, power transmission, and logistics. They noted that the government is working on new models to enhance private sector participation in infrastructure projects. The management set a revenue growth goal of 15% to 20% for FY27, despite acknowledging potential challenges in project execution due to external factors. The call concluded with management expressing gratitude to stakeholders for their support and confidence in the company.
The management provided a balanced overview of performance and opportunities while acknowledging challenges.
Sourced from an exchange-filed transcript, dated 10 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: During the earnings conference call for the quarter and year ended March 31, 2026, G R Infraprojects Limited reported a revenue growth of approximately 27% year-over-year, reaching INR 2,521 crores for Q4 FY '26. The adjusted EBITDA margin decreased to around 11% from 15.5% in the previous year, attributed to higher construction costs and one-time claims income in the prior year. The company secured new orders worth INR 10,700 crores during the year, with an order book totaling approximately INR 26,470 crores. Management highlighted ongoing challenges in the infrastructure sector due to geopolitical tensions and land acquisition issues, but expressed optimism about future opportunities across various sectors, including power transmission and metro projects. They set a goal for new order wins of INR 20,000 to INR 22,000 crores for FY '27, while maintaining a disciplined bidding approach.
Management acknowledged both growth opportunities and challenges in the current business environment.
Sourced from an exchange-filed transcript, dated 16 May 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: During the earnings conference call for the quarter ended December 31, 2025, G R Infraprojects Limited reported a revenue from operations of approximately INR 2,039 crores, reflecting a 36% increase year-over-year. The EBITDA margin for the quarter was 10.07%, down from 12.82% in the previous year. Profit before tax rose by 18% to INR 274 crores. The company repaid INR 262 crores in debt, improving its debt-equity ratio to 0.03. Management highlighted a robust order book of approximately INR 20,250 crores and noted the recent win of a Battery Energy Storage System project worth INR 414 crores. The union budget for FY '26-'27 emphasized increased public capital expenditure on infrastructure, with significant allocations for roads and railways. Management expressed confidence in the infrastructure sector's growth and outlined plans for diversification and financial discipline moving forward.
Management emphasized strong revenue growth and a solid order book.
Sourced from an exchange-filed transcript, dated 12 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedG R Infraprojects Limited (GRINFRA) reported revenue of ₹839,861.48 lakh for FY2025-26, reflecting growth from ₹739,470.41 lakh in FY2024-25. The company faces ongoing regulatory disputes, including a ₹106.03 lakh customs duty dispute pending with the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in Chennai, and multiple other tax disputes. A ₹5,000 fine was imposed by NSE for delayed related party transaction disclosures. The auditor highlighted an ongoing sub-judice matter before the Gauhati High Court, with no adjustments made to financial statements. The company maintains compliance with statutory dues and has no defaults in loan repayments.
- Revenue grew to ₹839,861.48 lakh in FY2025-26 from ₹739,470.41 lakh in FY2024-25.
- Ongoing regulatory disputes include a ₹106.03 lakh customs duty dispute pending with CESTAT in Chennai and multiple other tax disputes.
- A ₹5,000 fine was imposed by NSE for delayed related party transaction disclosures.
- Auditor noted an ongoing sub-judice matter before the Gauhati High Court, with no adjustments to financial statements.
- The company has no defaults in loan repayments and maintains compliance with statutory dues.
Key takeaway: GRINFRA shows revenue growth but faces ongoing regulatory and compliance challenges, including tax disputes and a sub-judice matter, which could affect future financial performance.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Auditor Qualification (2 items); Regulatory Action (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Auditor Qualification
2 occurrencesRecent (last 12 months)
The auditor has highlighted an ongoing regulatory matter sub-judice before the Hon’ble High Court of Gauhati, Assam, which is noted in the consolidated financial statements but no adjustments have been made pending the outcome.
Earlier (1-3 years ago)
The auditor states that nothing has come to their attention that suggests the company is not capable of meeting its liabilities within one year, but emphasizes this is not an assurance of future viability.
Regulatory Action
2 occurrencesRecent (last 12 months)
NSE has imposed a penalty of ₹5,000/- on the Company for delay in submission of RPT disclosure under Integrated Financials for the Half year ended September 30, 2025, under SEBI (LODR) Regulations, 2015.
Earlier (1-3 years ago)
BSE Limited imposed a fine of ₹1,000 for delayed submission of compliance related to Non-Convertible Debentures.
Routine disclosures
Contingent Liability
4 occurrencesRecent (last 12 months)
The company has contingent liabilities related to indirect tax matters, including disputed demands for Custom duty, Service Tax, Sales Tax, VAT, and GST, with 106.03 lakhs deposited under protest as of March 31, 2026.
Earlier (1-3 years ago)
The company has legal cases filed against it under various laws, but management states they are not material or significant to the going concern status.
The company acknowledges past contingent liabilities arising from changes in project scope or incomplete projects, even after COD, potentially leading to future obligations.
The company has contingent liabilities related to direct tax matters, indirect tax matters, and other matters, as well as corporate guarantees given to lenders for financial assistance extended to subsidiaries.
Related-Party Transaction
3 occurrencesRecent (last 12 months)
The company has related party transactions in relation to Corporate Social Responsibility (CSR), as mentioned in note 42, which includes outstanding bank guarantees amounting to 2,44,870.22 H in Lakhs as of 31 March 2026.
Earlier (1-3 years ago)
The Company entered into one material Related Party Contracts/arrangements with its wholly owned subsidiary during the Financial Year under review, details of which are disclosed in Form AOC-2 as Annexure-II.
The company has entered into related party transactions involving sales of services to multiple subsidiaries, including Reengus Sikar Expressway Limited and others, with transaction values and closing balances disclosed as of 31 March 2024 and 2023.
Statutory dues in dispute
3 occurrencesRecent (last 12 months)
The company has pending disputes with authorities over various statutory dues, including customs duty, service tax, sales tax, and goods and service tax, with amounts in lakhs and disputes pending before various tribunals and appellate authorities.
Earlier (1-3 years ago)
The company has outstanding statutory dues related to customs duty, service tax, and sales tax, with disputes pending before various tribunals and tax authorities.
The company has outstanding statutory dues under the Custom Act, 1962 and Finance Act, 1994, with disputes pending before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai. The amounts relate to periods from December 2012 to August 2016 and FY 20.
Management & Board Governance
2 occurrencesRecent (last 12 months)
Mr. Vinod Kumar Agarwal, Chairman and Whole-time Director, resigned effective 10 November 2025. Mr. Chander Khamesra, an Independent Director, retired effective 23 September 2025.
Earlier (1-3 years ago)
Mr. Ramesh Chandra Jain, a Wholetime Director, resigned effective 30 November 2022. Ms. Vrinda Agarwal, daughter of Mr. Ajendra Kumar Agarwal, resigned as a director effective 31 January 2024.