NSE: GPTINFRA · BSE: 533761
GPT INFRAPROJECTS LTD
Builds civil infrastructure for Indian railways and highways under engineering, procurement and construction (EPC) and hybrid annuity (HAM) contracts, with a smaller concrete sleeper manufacturing line. The Infrastructure segment, which contributed 93.7% of FY26 segment revenue at Rs 1,150.85 crore, covers railway bridges, elevated corridors, signalling works and highway projects executed for government clients such as NHAI, Indian Railways and PGCIL; the Concrete Sleeper segment, at 6.3% of segment revenue and Rs 77.4 crore, supplies pre-stressed concrete (PSC) sleepers to railway divisions in India and from a facility in Ghana. FY26 inflow was a record Rs 2,422 crore and the closing order book stood at Rs 4,476 crore, roughly 3.5x FY26 revenue. The order book spans railway, highway and power EPC work, with new wins covering railway bridges, sleeper supplies and a Power EPC entry via a PGCIL contract. Material inputs are the largest cost line at 39.8% of FY26 revenue, followed by other operating expenses at 40.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Infrastructure (94%), Concrete Sleeper (6%). Asset-heavy civil construction and EPC contractor with railway focus
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 675 | 809 | 1,018 | 1,188 | 1,290 |
| EBITDA (ex other income) | 84 | 87 | 121 | 136 | 174 |
| margin % | 12.5 | 10.8 | 11.9 | 11.4 | 13.5 |
| Owners' profit | 23 | 30 | 56 | 80 | 97 |
| EPS, as reported (₹) | 8.37 | 5.40 | 9.94 | 6.55 | 7.70 |
| ROE % · ROCE % | 8.9 · 19.4 | 10.7 · 20.5 | 18.5 · 31.0 | 14.3 · 21.2 | 16.4 · 20.9 |
| Debt / equity (x) | 0.98 | 0.88 | 0.63 | 0.25 | 0.50 |
| Cash from operations | 72 | 119 | 113 | 29 | 64 |
| Capex | (13) | (57) | (13) | (61) | (55) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 288 | 278 | 381 | 313 | 279 | 284 | 415 | 302 |
| Profit before tax | 22 | 27 | 29 | 33 | 29 | 27 | 41 | 32 |
| Net profit | 15 | 21 | 22 | 25 | 21 | 20 | 30 | 24 |
| EPS (₹) | 1.47 | 1.71 | 1.93 | 1.86 | 1.72 | 1.60 | 2.52 | 1.95 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Infrastructure | 1,183 | 91.5 |
| Concrete Sleeper | 109 | 8.5 |
| Total, before eliminations | 1,292 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LARSEN & TOUBRO LTD. | 5,35,992 | 32.3 | 4.17 | 19.4 | 14.7 | 11.9 | 16.0 | 12.5 |
| RAIL VIKAS NIGAM LIMITED | 43,725 | 48.7 | 4.45 | 31.1 | 8.9 | 7.5 | 5.8 | 7.5 |
| KALPATARU PROJECT INT LTD | 24,595 | 21.6 | 3.18 | 11.1 | 13.3 | 15.0 | 16.0 | 10.0 |
| NBCC (INDIA) LIMITED | 22,448 | 30.3 | 6.98 | 18.9 | 23.1 | 29.7 | 13.5 | 9.6 |
| IRB INFRA DEV LTD. | 21,849 | 16.8 | 1.04 | 10.0 | 4.1 | 2.5 | 7.6 | 55.6 |
| CEMINDIA PROJECTS LIMITED | 21,576 | 35.9 | 8.99 | 18.3 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 16,007 | 20.4 | 5.09 | 17.9 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 11,793 | 27.4 | 2.84 | 19.3 | 11.4 | 12.4 | 29.6 | 20.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.2 | 14.7 | 56 of 108 | 49% |
| P/B | 2.5 | 1.5 | 62 of 87 | 29% |
| ROCE | 16.7 | 10.0 | 30 of 109 | 73% |
| ROE | 16.4 | 9.2 | 19 of 91 | 80% |
| Debt / Equity | 0.5 | 0.3 | 60 of 91 | 34% |
| EBITDA margin | 17.1 | 12.4 | 26 of 88 | 71% |
| Revenue growth | (3.4) | 6.2 | 57 of 86 | 34% |
| Profit growth | (2.5) | 2.7 | 48 of 84 | 43% |
| Market cap | 1495 | 454 | 38 of 110 | 66% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 21 Sept 2026 · GPT Infraprojects to hold virtual investor meeting on September 28, 2026 | board shareholder meetings | low | — | — |
| 17 Sept 2026 · GPT Infraprojects bags Rs 483.72 Cr railway bridge order from RVNL | business updates | high | — | — |
| 16 Sept 2026 · NCLT orders meetings for amalgamation of two wholly-owned subsidiaries | strategic transactions | medium | — | — |
| 12 Sept 2026 · GPT Infraprojects subsidiary bags Rs 85.53 Crore railway signalling order | business updates | high | — | — |
| 9 Sept 2026 · Subsidiary bags Rs 114.82 Cr railway signalling contract from Northeast Frontier Railway | business updates | high | — | — |
| 2 Sept 2026 · GPT Infraprojects declared L1 in Rs 483.7 Cr railway bridge contract | business updates | high | — | — |
| 24 Aug 2026 · WOS Alcon declared L1 in Rs 97.31 Cr railway order for GPT Infraprojects | business updates | high | — | — |
| 10 Aug 2026 · All 4 resolutions passed at GPT Infraprojects 46th AGM | board shareholder meetings | low | — | — |
| 8 Aug 2026 · 46th AGM concludes; Rs 2.75 dividend confirmed; 4 resolutions passed | board shareholder meetings | medium | — | — |
| 6 Aug 2026 · GPT Infraprojects Q1 FY27 call: revenue soft, margins strong, 30% growth guidance intact | investor communications | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.