Transcript of an earning conference call for the quarter and financial year ended 31st March 2025
Awaiting price reaction for this filing.
G R Infraprojects reported FY25 consolidated revenue of INR 7,394.70 crores, down 17.66% YoY, mainly due to lower order intake. Standalone EBITDA margin slipped to 13.88% from 14.58%, while Q4 EBITDA margin was healthier at 17.51%. Consolidated PAT fell to INR 1,015.40 crores from INR 1,322.97 crores. The company repaid INR 361 crores of debt in Q4, taking standalone debt-to-equity to a sector-best 0.07. Order book stood at INR 24,346 crores with INR 5,166 crores in L1 projects and INR 6,500 crores of bids awaiting opening. Management guided for FY26 order inflow of INR 20,000 crores, double-digit revenue growth of 10-15%, and flat margins around 12-13%. Pending equity commitment of INR 2,875 crores to be invested over 3 years.
Sharper focus on debt reduction and InvIT monetization are positives, but declining revenues and margin pressure signal a challenging year. The strong order inflow target and diversification into power transmission, telecom, and ropeway offer future growth visibility, though execution remains key for stock re-rating.