Investor Presentation on the Financial Results for the quarter and year ended 31st March 2026.
GRINFRA · price
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G R Infraprojects reported Q4 FY26 standalone total income of Rs 26,197 Mn, up 23% YoY, driven by higher execution volume. However, EBITDA declined 21.5% YoY to Rs 2,734 Mn with margins compressing sharply to 10.85% from 17.51% in Q4 FY25. Construction expenses surged 44% YoY, significantly impacting profitability. For the full year FY26, revenue grew 17% to Rs 76,202 Mn but EBITDA margin contracted to 10.90% from 13.88% in FY25. The company recognized an exceptional gain of Rs 2,169.50 Mn (net of tax) from transferring 4 operational HAM projects to Indus Infra Trust. The order book stands robust at Rs 2,64,715 Mn, providing multi-year revenue visibility. Net debt-to-equity improved significantly to 0.03 (standalone) from 0.06 in FY25.
Sharp margin compression despite revenue growth signals cost pressures in the infrastructure execution business. The strong order book and asset monetization provide financial flexibility, but near-term profitability concerns may weigh on investor sentiment.