GR Infra shares: On Friday, the last trading day of the week, investors attacked the shares of GR Infraprojects Limited. At the end of trading, this stock registered a rise of 4 percent and closed at Rs 1618. Brokerage firms are giving mixed reaction on this stock. Some analysts estimate that the stock may fall by 40 percent.
Company’s quarterly results
GR Infraprojects reported 42.1 per cent year-on-year (YoY) growth in profit at Rs 553.1 crore in the March quarter. At the same time, the infra company’s revenue from operations increased by 1 percent to Rs 2,485.1 crore. Ebitda increased by 19.4 per cent to Rs 540.3 crore in the fourth quarter of the current financial year from Rs 670.5 crore in the year-ago period. Ebitda margin stood at 21.7 per cent in the quarter, which is the company’s financial statement for the period.
Brokerage said-sell
According to Kotak Institutional Equities, it was very difficult for the company to get new orders in the financial year 2024. The brokerage said GR Infra’s results came in ahead of expectations, as in-line execution was helped by better-than-expected margins. We have raised our estimates for FY2025 and FY26E by 10 per cent and 6 per cent, respectively. Kotak said that the stock may fall to the level of Rs 990. Therefore it is advisable to sell this share. GR Infra recorded 13 per cent YoY expansion in Q4FY24. Ebitda margin increased by 320 bps year-on-year due to receipt of early completion bonus during the quarter.
Nuvama Institutional Equities said the company’s InViT listing during the quarter through which it monetized seven assets resulted in a profit of Rs 1,400 crore. Motilal Oswal Financial Services said the company wants to diversify its order book and actively bid for projects in transmission, ropeway, tunneling and MMLP.
