Mid-Cap Realty stock which is India’s first Integrated Multi-National Transport Infrastructure Developer jumps 3 percent in the day’s trade after it declared its YoY toll revenue for the month of October 2023, which is a jump of 30 percent YoY.
At 2:02 p.m the shares of IRB Infrastructure Developers Limited were trading at Rs. 35.45 up 1.87 percent from its previous day close price of Rs. 34.80 and its market capitalization is Rs. 21,456 Crores.
IRB Infrastructure Developers Limited have declared the project wise toll revenue from the subsidiaries and joint ventures of the company for the month of October, 2023. The total toll collections sum to Rs. 447.75 Crores which is a growth of 30 percent from its previous year
collections of Rs. 345.09 Crores. Considering the next two months of Q3 are too filled in with festivals and vacations as well, it expects the momentum to continue for the quarter with good traffic growth across all projects.
In addition to this, it expects the start of tolling on the Samakhiyali Santalpur BOT project in Gujarat soon, which would further facilitate better toll revenue to continue the momentum.
The company’s revenue grew 10.3 percent from Rs. 5,803.7 Crores in FY22 to Rs. 6,401.64 Crores in FY23, accompanied by increasing profits of Rs. 361.4 Crores to Rs. 720.01 Crores.
It has reported a return on equity(ROE) of 5.55 percent and a return on capital of employed (ROCE) of 9.02 percent, its profitability ratios are going down year on year, as the company is into infrastructure and it is a capital intensive business so it’ll take time to generate good returns.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 34.39 percent stake, the Domestic Institutional Investors hold 49.18 percent and the Foreign Institutional Investors (FII) hold 5.49 percent.
IRB Infrastructure Developers Limited is India’s first Integrated Multi-National Transport Infrastructure Developer in Roads & Highways segment. It is one of the largest integrated private toll roads and highways infrastructure developers in India, IRB has an asset base of over Rs.75,000 Crores in 12 States across the parent company and two infrastructure investment trusts.
Written by: Bharath K.S
