Investor Presentation

Mgmt Guided Margin ImprovementOrder Pipeline DisclosedCfo Debt Reduction RoadmapInvestor Communications View source PDF

GMRAIRPORT · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-1.3%1-day move

₹98.15

prior close

₹102.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-0.0+1.1+1.3+1.6-1.3-0.0+1.0+4.3+3.9+4.5+10.5+11.8——

Up moveDown movePending

AI summary

GMR Airports reported strong Q4FY26 results with consolidated EBITDA of INR 15.5bn (up 38% YoY) and FY26 EBITDA of INR 62bn (record high, up 47% YoY). For the full year, the company reported its first positive PAT in over a decade at INR 4.7bn versus a loss of INR 8.2bn in FY25. Passenger traffic across all airports reached 121.6mn in FY26, up 0.9% YoY. Aero Yield Per Pax surged 67% YoY to INR 434 driven by revised tariffs (CP4) at Delhi Airport. Aero revenue at DIAL jumped 178% YoY. Net debt stands at INR 340bn with ongoing refinancing. Key milestones include: winning the Delhi Cargo Terminal concession, starting Delhi and Hyderabad Duty Free operations, Bhogapuram airport at 98.7% completion (targeting Q2FY27), and multiple real estate projects underway.

Likely market impact

Strong operational performance with margin expansion from regulatory tariff revisions and new adjacency businesses. First positive annual profit in over a decade signals a turning point for the company. Expansion projects at Bhogapuram and Crete remain on track to add capacity.