Shares of this multibagger stock under Rs 100 jumped approximately 2 percent in Thursday’s trading session after the company provided robust results pertaining to its gross toll collection for February 2024. During the last six months, the company’s stock gained nearly 87 percent for its holders.
With a market capitalization of Rs 37,200.24 crores, the stocks of IRB Infrastructure Developers Limited, the largest integrated multi-national transport infrastructure developer in India, opened their trading hour on Thursday at Rs 62.31 and currently trade at Rs 61.80, gaining approximately 2 percent as compared to the previous closing levels of Rs 60.79 apiece.
Such bullish share price movements were observed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), reported its gross toll collection numbers for the month of February 2024. The company’s gross toll revenue, along with its associate “IRB Infrastructure Trust”, jumped approximately 31 percent year-on-year.
Both entities, together, reported an aggregate toll collection of Rs 462.2 crores for February 2024 as against Rs 351.8 crores in February 2023.
The top contributors were ‘IRB MP Expressway Private Limited’ (Mumbai Pune Expressway & Old Mumbai Pune Highway NH4) and ‘IRB Ahmedabad Vadodara Super Express Tollway Private Limited’ (Ahmedabad Vadodara Expressway NE1 and Highway NH48).
“With a growth of YoY of 31% in toll collection, the momentum is continued as seen at the start of new calendar year 2024. With high GDP growth projected for the country, we expect it to remain strong for coming months.”, commented Mr. Amitabh Murarka, Dy. CEO, IRB Infrastructure Developers Limited.
Keeping a purview of one year, the company’s stock has successfully delivered multibagger returns of 108 percent to its shareholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.08 lakhs.
During the recent financial quarters, the company’s prime business indicators witnessed a jump in numbers with the operating revenues going up from Rs 1,745 crores during Q2FY24 to Rs 1,969 crores during Q3FY24 and the latter, during the same time horizon, showed an upward shift from Rs 96 crores to Rs 187 crores.
Incorporated in 1998, IRB Infrastructure Developers Limited is an infrastructure and construction company conducting its business operations via two segments, viz, ‘BOT Projects’ and ‘Construction’ with a majority of revenue attributed to the latter segment.
Written by Amit Madnani
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