G R Infraprojects Ltd shares opened its trading hour today at Rs 1,037.70 and currently trade at a price of Rs 1,003 which is an upside of around 3 percent to the previous closing price of Rs 972.50. The stock marked an intra-day high of Rs 1,064.40 which is an upside of around 9 percent.
Such a movement in the stock is observed after it received a Letter of Award from the National Highways Authority of India (NHAI) worth Rs 740.77 crores pertaining to the construction of a 4-lane highway with paved shoulders in Belgaum – Hungund – Raichur Section on Hybrid Annuity Mode. The project is mutually agreed to be completed within 730 days from the appointed date.
In addition to the above, the company, during the past week, was successful in bagging multiple construction contracts from NHAI.
G R Infraprojects Ltd, incorporated in December 1995, is an integrated road engineering, procurement and construction (EPC) company with principal business operations broadly divided into three categories namely civil construction activities, development of roads, and manufacturing activities.
The company executes road projects as EPC contractors as well as through PPP (Public Private Partnership) model with a focus on HAM projects. Over the span of last 15 years, it has been a party to more than 100 projects across 16 states with an exceptional record of completing the same on a timely basis.
Financials of the company exhibit an opposing scenario with revenues and net profits falling on a QoQ basis. Revenues moved down from Rs 2,692 crores in Q2 to Rs 2,136 crores in Q3. Moreover, the net profit figures showed a down movement from Rs 405 crores in Q2 to Rs 336 crores in Q3.
The same decreasing trend is observed in the profitability ratios of the company with ROE reducing from 27.25 percent in FY20-21 to 18.93 percent in FY21-22. ROCE figures too moved down from 23.06 percent in FY20-21 to 16.42 percent in FY21-22.
As per the quarter ending December 2022, promoters hold 79.74 percent sta in the company. FIIs reduced their stake from 0.63 percent in Q2 to 0.38 percent in Q3.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
