Investor presentation for the quarter and year ended March 31, 2026
GMRP&UI · price
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GMR Power and Urban Infra (GPUIL) reported Q4FY26 total income of INR 20.7bn (+11% YoY) driven by smart meter revenue surge to INR 5.2bn from INR 1.5bn in Q4FY25. FY26 total income was INR 77.5bn (+13% YoY). However, the company posted a net loss of INR 1.1bn in Q4FY26 versus profit of INR 1.8bn in Q4FY25, with FY26 PAT at INR 5.9bn down from INR 17.4bn in FY25 (which included significant exceptional gains). EBITDA declined 7% YoY to INR 20.2bn in FY26. The company completed a preferential issuance raising ~INR 9bn through equity shares and warrants, increasing total shares from ~715mn to ~781mn. Smart meter business has installed ~39 lakh meters across UP, while power plants maintained high PLFs of 91-92%. Highway traffic fell 13.3% YoY. Total net debt stands at INR 91.6bn.
The stock faces pressure from net losses and declining PAT despite revenue growth, as smart meter expansion is offset by lower exceptional gains and high finance costs. The capital raise provides liquidity but increases share count, diluting existing shareholders.