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G R Infraprojects Ltd.
(GRINFRA)
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Rating:65Neutral
Price Target:
₹812.00
▼(-6.73% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by solid profitability and a notably strengthened balance sheet, offset by persistently negative operating/free cash flow that raises earnings-quality risk. Technicals are weak (below key moving averages with negative MACD), while valuation is supportive due to the low P/E despite a modest dividend yield.
Positive Factors
Stronger balance sheet
Sharply lower leverage and steadily rising equity strengthen GRINFRA’s financial flexibility. This provides a more resilient foundation for executing infrastructure contracts, absorbing project timing variability, and supporting future investment without the balance-sheet pressure associated with heavier debt.
Negative Factors
Weak cash conversion
Persistent negative operating and free cash flow shows that reported profits are not converting consistently into cash. This weakens earnings quality and can increase dependence on working-capital movements or external funding, limiting the financial benefits of the otherwise improved leverage position.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger balance sheet
Sharply lower leverage and steadily rising equity strengthen GRINFRA’s financial flexibility. This provides a more resilient foundation for executing infrastructure contracts, absorbing project timing variability, and supporting future investment without the balance-sheet pressure associated with heavier debt.
Read all positive factors
G R Infraprojects Ltd. (GRINFRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹73.11B
Dividend Yield0.33%
Average Volume (3M)3.67K
Price to Earnings (P/E)7.2
Beta (1Y)0.88
Revenue Growth25.06%
EPS Growth-7.89%
CountryIN
Employees9,982
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)105.02
Shares Outstanding96,760,530
10 Day Avg. Volume1,971
30 Day Avg. Volume3,669
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)0.82
Price to Sales (P/S)0.92
P/FCF Ratio-2.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)88.49
Revenue Forecast (FY)₹90.28B
G R Infraprojects Ltd. Business Overview & Revenue Model
Company Description
G R Infraprojects Limited, along with its subsidiaries, delivers comprehensive engineering, procurement, and construction (EPC) solutions, predominantly for road and highway developments. Their operations extend across India and to international m...
How the Company Makes Money
GRINFRA primarily makes money by executing infrastructure projects under contract, where revenue is recognized against work performed and milestones achieved on engineering and construction assignments. Its key revenue stream is EPC contracting—es...
G R Infraprojects Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.95B | 83.99B | 73.95B | 89.80B | 94.82B | 84.58B |
| Gross Profit | 17.10B | 17.73B | 24.48B | 30.43B | 33.81B | 24.83B |
| EBITDA | 20.61B | 18.12B | 20.29B | 25.24B | 26.23B | 18.01B |
| Net Income | 10.16B | 9.03B | 10.14B | 13.24B | 14.54B | 8.32B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 160.48B | 149.29B | 129.42B | 137.60B | 116.73B |
| Cash, Cash Equivalents and Short-Term Investments | 13.04B | 14.89B | 16.90B | 6.90B | 4.20B | 6.09B |
| Total Debt | 0.00 | 48.72B | 49.71B | 38.17B | 56.97B | 52.82B |
| Total Liabilities | -93.91B | 66.57B | 64.26B | 53.39B | 74.95B | 68.62B |
| Stockholders Equity | 93.91B | 93.80B | 84.92B | 75.92B | 62.65B | 48.11B |
Cash Flow | ||||||
| Free Cash Flow | 3.32B | -27.95B | -21.87B | -17.11B | -6.61B | -2.68B |
| Operating Cash Flow | 4.07B | -25.62B | -20.32B | -15.92B | -3.63B | 1.66B |
| Investing Cash Flow | -4.47B | 8.67B | 4.33B | 9.48B | -88.48M | -2.57B |
| Financing Cash Flow | -3.04B | 20.29B | 17.24B | 11.20B | -203.37M | 3.11B |
G R Infraprojects Ltd. Technical Analysis
Negative
870.55
Price Trends
825.07
Negative
859.76
Negative
890.64
Negative
Market Momentum
-15.30
Negative
38.88
Neutral
29.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRINFRA, the sentiment is Negative. The current price of 870.55 is above the 20-day moving average (MA) of 783.50, above the 50-day MA of 825.07, and below the 200-day MA of 890.64, indicating a bearish trend. The MACD of -15.30 indicates Negative momentum. The RSI at 38.88 is Neutral, neither overbought nor oversold. The STOCH value of 29.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GRINFRA.
G R Infraprojects Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹30.64B | 8.05 | ― | 0.98% | -2.47% | -6.60% | |
67 Neutral | ₹31.87B | 5.04 | ― | 0.48% | 1.82% | -21.49% | |
65 Neutral | ₹73.11B | 7.19 | ― | 0.33% | 25.06% | -7.89% | |
62 Neutral | ₹61.05B | 4.83 | ― | 0.27% | -18.82% | 46.79% | |
56 Neutral | ₹27.06B | 1.09 | ― | 0.65% | -24.59% | 39.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹24.67B | 13.30 | ― | 0.53% | -3.14% | -57.80% |
* General Sector Average
IN:GRINFRA
G R Infraprojects Ltd.
755.60
-407.52
-35.04%
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IN:DBL
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IN:HGINFRA
H.G. Infra Engineering Ltd.
378.55
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IN:JKIL
J. Kumar Infraprojects Limited
404.90
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IN:PNCINFRA
PNC Infratech Ltd
124.25
-155.14
-55.53%
G R Infraprojects Ltd. Corporate Events
G R Infraprojects Elevates Key Executives to Senior Management Roles
Oct 14, 2026
G R Infraprojects Limited has reclassified Business Unit Head – Tunnels and Hydro, Archit Agarwal, and President – HR, Administration Corporate Communication, Bharat Bhushan Aggarwal, as Senior Management Personnel effective 14 Octobe...
G R Infraprojects Faces Rs 321.6 Crore GST Show Cause Notice
Aug 26, 2026
G R Infraprojects Ltd. has disclosed that it received a show cause notice from the Office of the Joint Commissioner of State Tax, Ratlam Division, Indore, for the GST period from April 2020 to March 2021. The notice cites alleged discrepancies suc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.