GRINFRAIndustrials

G R Infraprojects Limited

Civil Construction · ISIN INE201P01022 · BSE 543317 · NSE EQ · FV ₹5
Last price
₹829
+1.22%today
What this company does

G R Infraprojects Limited operates in Civil Construction, part of the Industrials sector. It booked ₹2,784 cr of revenue in its latest quarter (Q1 FY27) and kept 12.8% of sales as profit.

Incorporated as a public entity in 1995, we are a diversified infrastructure company with capabilities across complex largescale projects. We operate across Engineering, Procurement emerging and high-growth segments such digital technology to enhance efficiency and Construction (EPC), Build, Operate and as oil & gas, telecom, Battery Energy Storage and execution precision.
In the report:
58out of 100
Equitytale Health Score
Mixed

Healthier than 58% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns69

How much profit it earns on the money it employs

Balance sheet49

How much it owes, and whether earnings cover the interest

Cash quality5

Whether reported profit actually arrives as cash

Growth & consistency41

Whether sales and profit have grown, and how steadily

Valuation90

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 40% vs last year
Profit up 46% vs last year
Promoters hold 75%
No promoter shares pledged
Strong 15% return on equity
Watch-outs
! Operating cash flow is negative

What if I invest in GRINFRA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹829 +1.22%
latest close · 2026-09-17
1-year return
-47.5%
52-wk low ₹79252-wk high ₹2,268
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio5.6Low
LowAverageHigh
P/B ratio0.86Below book
Below bookModerateHigh
EV / EBITDA4.7Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.2%Strong
WeakFairStrong ▸15%
Return on capital16.5%Strong
WeakFairStrong
Net margin12.8%Decent
ThinDecentStrong
EBITDA margin22.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.52Moderate
LowModerateHigh ▸1
Interest cover5.7×Strong
RiskyOkayStrong ▸5×
Current ratio3.54Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹8,022 cr
Book value
₹969
EPS
₹36.93
latest quarter
Net debt
₹3,862 cr
owes more than its cash
Enterprise value
₹11,884 cr
EBITDA
₹2,514 cr
annualised
EBIT
₹2,330 cr
annualised
Operating margin
20.9%
Return on assets
8.9%
Earnings yield
17.82%
P/S
0.72
Sales / share
₹1,150.9
Tax rate
25.4%
Face value
₹5
Shares
9.7 cr
Working capital
₹4,846 cr
Current assets
₹6,753 cr
Current liabilities
₹1,908 cr
Delivery %
48.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 13% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹873₹2,055, midpoint ₹1,464

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2,784 cr
Other Income₹45 cr
Total Income₹2,829 cr
Cost of Materials₹142 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-5 cr
Employee Benefit Expense₹158 cr
Finance Costs₹103 cr
Depreciation & Amortisation₹46 cr
Other Expenses₹1,968 cr
Total Expenses₹2,411 cr
Exceptional Items₹61 cr
Profit before Tax₹480 cr
Tax Expense₹122 cr
Net Profit₹358 cr
Net margin on total income12.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹136 cr4.7%
Employee benefit expense₹158 cr5.5%
Finance costs₹103 cr3.6%
Depreciation & amortisation₹46 cr1.6%
Other expenses₹1,968 cr68.1%
Tax expense₹122 cr4.2%
Profit for the period₹358 cr12.4%
Total income ₹2,829 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue2,308 cr2,500 cr2,784 cr
Total income2,343 cr2,531 cr2,829 cr
Expenses2,001 cr2,245 cr2,411 cr
Profit before tax356 cr320 cr480 cr
Tax98 cr110 cr122 cr
Net profit (owners' share)259 cr210 cr357 cr
Net margin (owners' share, on revenue)11.2%8.4%12.8%
EPS (₹)26.7921.3936.93
YoY (latest quarter): total income +39.6% · net profit +46.4%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹16,048 cr
Shareholder equity
₹9,380 cr
parent shareholders
Total debt
₹4,845 cr
Cash
₹983 cr
Cash flow · H1 FY26
Operating
₹-1,429 cr
Investing
₹180 cr
Financing
₹769 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limited₹3,836₹5.28 L cr32.0
Rail Vikas Nigam Limited₹202₹42,055 cr66.3
Kalpataru Projects International Limited₹1,399₹23,900 cr19.3
IRB Infrastructure Developers Limited₹19₹22,767 cr18.9
NBCC (India) Limited₹82₹22,175 cr36.0
Cemindia Projects Limited₹1,255₹21,563 cr38.3
Engineers India Limited₹264₹14,824 cr23.5
Techno Electric & Engineering Company Limited₹985₹11,452 cr30.7
KEC International Limited₹402₹10,700 cr36.8
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.30%
trailing 12 months
Dividend / share (TTM)
₹2.5
Last dividend
₹2.5
ex 18 Feb 2026
ActionDetailEx-date
Dividend₹2.5 / share18 Feb 2026
Dividend₹12.5 / share13 Mar 2025
DividendInterim Dividend17 Nov 2022
Who owns it · 2026-06-30
No pledge
Promoter
74.7%
FII / Foreign
2.5%
DII / Domestic
19.5%
Retail / others
3.4%
Promoter stake down 5.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRitu Agarwal · Promoter Group9.67 L · ₹112.6 cr7 Mar 24
SoldSuman Agarwal · Promoter Group9.67 L · ₹112.6 cr7 Mar 24
SoldLaxmi Devi Agarwal · Promoter Group9.67 L · ₹112.6 cr7 Mar 24
Bulk / block deals
short · NSE12 Dec 25
short · NSE122 Jul 25
short · NSE116 Jul 25
Stake changes
BothShakuntala Devi Gupta · promoter→ 0.00% · 14.00 L29 Jun 26
BothMrs. Suman Agarwal · promoter→ 6.52% · 3.50 L29 Jun 26
BothMR. Devi Nandan Agarwal · promoter→ 3.53% · 3.50 L29 Jun 26
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 20 Mar 2026
See the official result
1
To approve granting of loans and/or providing guarantees or security under section 185 of the Companies Act, 2013.
⚑ Passed only because promoters voted yes
Backed by 67% of shareholders other than promotersneeded 75%
1.40 cr votes for, 69.90 L against · 33% of mutual funds and other big investors said no
2
To approve Sale/Disposal of GR Ena Kim Expressway Private Limited, a Material Subsidiary of the Company.
Backed by 94% of shareholders other than promotersneeded 75%
1.97 cr votes for, 12.71 L against · 6% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 58 named members
owning 74.7% between them · as of 2026-06-30
LOKESH BUILDERS PRIVATE LIMITED31.80%
SUMAN AGARWAL6.52%
AJENDRA AGARWAL5.55%
MAHENDRA AGARWAL5.48%
HARISH KUMAR AGARWAL3.94%
PURSHOTTAM AGARWAL3.94%
DEVKI NANDAN AGARWAL3.53%
KIRAN AGARWAL2.58%
Business done with them
FY2026 · 10 of the group
The company paid ₹21 cr to companies in the promoter group last year — about 0.3% of its ₹8,399 cr revenue.
Vinod Kumar Agarwal
Other payments to them · Remuneration Paid, Guarantees received
₹5 cr
company paid
Vikas Agarwal
Other payments to them · Remuneration Paid
₹5 cr
company paid
Devki Nandan Agarwal
Other payments to them · Remuneration Paid
also owns 3.53% of the company
₹5 cr
company paid
Pankaj Agarwal
Other payments to them · Remuneration Paid
₹4 cr
company paid
Purshottam Agarwal
Other payments to them · Remuneration Paid, Rent paid, Guarantees released
also owns 3.94% of the company
₹1 cr
company paid
Archit Agarwal
Other payments to them · Remuneration Paid
₹60 L
company paid
Ashwin Agarwal
Other payments to them · Remuneration Paid
₹14.7 L
company paid
Rahul Infrastructure Private Limited
Leases As Lessee · Guarantee released, rent paid
₹7.2 L
company received
Lalita Agarwal
Leases As Lessee · Rent paid
also owns 0.97% of the company
₹5.8 L
company received
Purshottam Agarwal
Leases As Lessee · Remuneration Paid, Rent paid, Guarantees released
also owns 3.94% of the company
₹2.9 L
company received
Lokesh Builders Private Limited
Leases As Lessee · Rent paid
also owns 31.80% of the company
₹1.2 L
company received

The company also transacted with 28 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.