Buy G R Infraprojects, target price Rs 1,166: Axis Securities

Axis Securities has a Buy call on G R Infraprojects with a target price of Rs 1,166. The current market price of G R Infraprojects is Rs 1079.9. The time period given by the analyst is 6-9 months when G R Infraprojects price can reach the defined target. G R Infraprojects, incorporated in 1995, is a Small Cap company with a market cap of Rs 10426.67 crore, operating in the construction sector.

G R Infraprojects Ltd. key Products/Revenue Segments include Sale of services, Income From Construction Work, Scrap and Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 1797.38 crore, up 26.97% from last quarter Total Income of Rs 1415.59 crore and down -16.74% from last year same quarter Total Income of Rs 2158.63 crore. The company has reported net profit after tax of Rs 211.21 crore in the latest quarter.

The company's top management includes Mr.Vinod Kumar Agarwal, Mr.Ajendra Kumar Agarwal, Mr.Vikas Agarwal, Mr.Chander Khamesra, Mrs.Kalpana Gupta, Mr.Rajendra Kumar Jain, Mr.Desh Raj Dogra, Mr.Rajan Malhotra. Company has B S R & Associates LLP as its auditors. As on 31-03-2025, the company has a total of 10 crore shares outstanding.

Investment Rationale
GR Infraprojects anticipates strong order intake, supported by a robust bidding pipeline across multiple sectors, particularly in EPC and HAM projects led by NHAI. Beyond roads, the company is also exploring opportunities in the railways, ropeways, and transmission and distribution (T&D) sectors, which offer substantial growth potential. These diverse prospects position the company to leverage its expertise across various infrastructure domains and capitalise on the sector's anticipated expansion. The stock is currently trading at an implied PE of 16x/12x FY25E/FY26E EPS. The brokerage has recommended a BUY on the stock for a target price of Rs 1,166/ share implying an upside of 10% from CMP.

Promoter/FII Holdings
Promoters held 74.7 per cent stake in the company as of 31-Mar-2025, while FIIs owned 2.84 per cent, DIIs 19.17 per cent.