Buy GMR Infrastructure, target price Rs 19: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on GMR Infrastructure with a target price of Rs 19. The current market price of GMR Infrastructure is Rs 17.3. Jayesh Bhanushali recommended to keep a stop loss at Rs 16.15.

GMR Infrastructure key products/revenue segments include contract revenue which contributed Rs 736.13 crore to sales value (66.55 per cent of total sales), interest which contributed Rs 363.54 crore to sales value (32.86 per cent of total sales) and income from sale of share & securities which contributed Rs 6.34 crore to sales value (0.57 per cent of total sales)for the year ending 31-mar-2018.

For the quarter ended 30-06-2019, the company has reported a consolidated sales of Rs 1,786.25 crore, down 4.96 per cent from last quarter sales of Rs 1,879.40 crore and up 10.30 per cent from last year same quarter sales of Rs 1,619.47 crore. The company has reported a net profit after tax of Rs 317.62 crore in latest quarter. The company’s top management includes B V N Rao, C R Muralidharan, G B S Raju, G M Rao, Grandhi Kiran Kumar, Madhva Bhimacharya Terdal, N C Sarabeswaran, R S S L N Bhaskarudu, S Rajagopal, S Sandilya, Srinivas Bommidala and Vissa Siva Kameswari. The company has S R Batliboi & Associates LLP as its auditor. As on 30-06-2019, the company has a total of 6,035,945,275 shares outstanding.