G R Infraprojects Limited has informed the Exchange about Transcript of an earnings conference call for the quarter and financial year ended 31st March 2025
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G R Infraprojects reported Q4 FY25 revenue of INR2,129 crores with EBITDA margin at 17.51%, while full-year FY25 standalone revenue fell 16% to INR6,516 crores and consolidated revenue declined 18% to INR7,395 crores due to lower order intake. The company repaid INR361 crores of debt, keeping standalone debt-to-equity at a strong 0.07, and transferred one HAM asset to Indus Infra InvIT for INR226 crores. Management has set a FY26 order inflow target of INR20,000 crores (highways INR11,500 crores, railway INR2,000 crores, power transmission INR2,000 crores) and guides for double-digit revenue growth of 10-15%, but expects margins to remain flat at 12-13% given competitive intensity. The company plans to invest INR1,000 crores annually in HAM and BOT equity over FY26-FY27, targeting more than 15% IRR on its new BOT projects (like Agra-Gwalior) and continuing to monetize operational road and power assets through InvITs.
Flat margin guidance and a revenue decline in FY25 may temper near-term sentiment, but a robust INR75,000+ crore order pipeline, very low leverage, and consistent InvIT-based cash recycling support the growth and re-rating thesis for FY26.