Buy GMR Airports Infrastructure, target price Rs 43.7: IIFL

IIFL has buy call on GMR Airports Infrastructure with a target price of Rs 43.7. The current market price of GMR Airports Infrastructure is Rs 41.3. IIFL recommended to keep stop loss at Rs 39.8.

GMR Airports Infrastructure, incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 24958.63 Crore) operating in Infrastructure sector.

GMR Airports Infrastructure key Products/Revenue Segments include Contract Revenue, Interest, Income From Sale Of Share & Securities and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1927.19 Crore, up 9.99 % from last quarter Total Income of Rs 1752.16 Crore and up 34.03 % from last year same quarter Total Income of Rs 1437.84 Crore. Company has reported net profit after tax of Rs 102.72 Crore in latest quarter.

The company’s top management includes Mr.G M Rao, Mr.Suresh Narang, Mr.Emandi Sankara Rao, Mr.Sadhu Ram Bansal, Mr.Mundayat Ramachandran, Mr.Subba Rao Amarthaluru, Mr.Madhva Bhimacharya Terdal, Mr.B V N Rao, Mr.G B S Raju, Mr.Srinivas Bommidala, Mr.Grandhi Kiran Kumar, Mrs.Bijal Tushar Ajinkya. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 604 Crore shares outstanding.

Investment Rationale
The stock has given a consolidation breakout.

Promoter/FII Holdings
Promoters held 58.9 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.84 per cent, DIIs 3.0 per cent.