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Last Updated: April 2, 2026, 2:58 am
Author: Getaka|Social: XLinkedIn

GMR Airports Infrastructure Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹4.76Overvalued by 94.67%vs CMP ₹89.30

P/E (15.0) × ROE (15.0%) × BV (₹2.59) × DY (2.00%)

Defaults: P/E=15, ROE=15%

₹9.38Overvalued by 89.50%vs CMP ₹89.30
MoS: -852% (Negative)Confidence: 56/100 (Moderate)Models: All 3: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹5.6444%Over (-93.7%)
EV/EBITDAEnterprise₹14.5729%Over (-83.7%)
Revenue MultipleRevenue₹9.8626%Over (-89%)
Consensus (3 models)₹9.38100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 18.6% · Defaults: P/E=15, ROE=15%

*Investments are subject to market risks

Investment Snapshot

55
GMR Airports Infrastructure Ltd scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health26/100 · Weak
ROCE 6.9% WeakROE 0.0% WeakD/E -11.45 Low debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money70/100 · Strong
FII holding up 3.87% (6mo) AccumulatingPromoter holding at 66.2% Stable
Earnings Quality60/100 · Moderate
OPM stable around 35% SteadyWorking capital: -232 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +29% YoY AcceleratingOPM: 39.0% (up 5.0% YoY) Margin expansion
Industry Rank60/100 · Moderate
ROCE 6.9% vs industry 6.9% Average3Y sales CAGR: 31% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

GMR Airports Infrastructure Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 | ROCE 6.9% | ROE 0.0% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 0.74x | Borrow/Reserve N/A
Cash Flow Reliability
100/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹-817 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +1.88 pp | DII -0.21 pp | Prom 0.00 pp
Business Momentum
+27
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +14.5% | Q NP +125.5% | Q OPM +3.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-89.5%((Fair Value - CMP) / CMP) × 100
Borrowings / ReservesN/ALatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+1.88 ppLatest FII% minus previous FII%
DII Change-0.21 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-41,595Latest shareholder count minus previous count
Quarterly Sales Change+14.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+125.5%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+3.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:58 am

Market Cap 94,281 Cr.
Current Price 89.3
Intrinsic Value₹9.38
High / Low 110/72.8
Stock P/E
Book Value 2.59
Dividend Yield0.00 %
ROCE6.92 %
ROE%
Face Value 1.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for GMR Airports Infrastructure Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
GMR Airports Infrastructure Ltd 94,281 Cr. 89.3 110/72.8 2.590.00 %6.92 %% 1.00
Industry Average94,281.00 Cr89.3002.590.00%6.92%0%1.00

All Competitor Stocks of GMR Airports Infrastructure Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 1,5841,7611,8902,0182,0642,2272,4472,4022,4952,6532,8633,2053,670
Expenses 1,1151,2361,6351,2651,3371,5581,6301,5061,6361,6621,8542,0412,223
Operating Profit 4685262547537266698178968599921,0091,1651,447
OPM % 30%30%13%37%35%30%33%37%34%37%35%36%39%
Other Income 180457118251184116263160260562241208130
Interest 5605906725946738578238891,0318299559491,043
Depreciation 254266301296373393405466474479491489431
Profit before tax -166127-601114-135-465-148-300-386246-196-65103
Tax % 18%17%6%85%40%5%13%13%11%18%29%111%66%
Net Profit -195105-63717-190-486-168-338-429202-253-13735
EPS in Rs -0.320.32-0.730.03-0.15-0.53-0.20-0.23-0.270.25-0.23-0.20-0.04

Last Updated: January 1, 2026, 3:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 5:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 10,65311,0888,2619,5578,5567,4118,3953,5664,6016,6748,75510,41413,733
Expenses 8,0978,5337,8046,3946,9995,9586,2172,6612,3164,9475,7836,6398,411
Operating Profit 2,5562,5554573,1631,5581,4532,1789052,2851,7272,9723,7755,322
OPM % 24%23%6%33%18%20%26%25%50%26%34%36%39%
Other Income 2,14523369381718-1,228144-1,930-5219237881,205506
Interest 2,9723,5722,1962,1282,3162,6843,5451,8032,0192,3382,9293,7053,864
Depreciation 1,4551,8131,1971,0191,0289841,0648868891,0381,4661,9101,876
Profit before tax 275-2,806-2,568397-1,069-3,444-2,287-3,714-1,144-727-635-63588
Tax % 61%5%7%187%4%-3%-4%-8%-1%16%30%29%
Net Profit 108-2,972-2,749-347-1,115-3,356-2,202-3,428-1,131-840-828-817-181
EPS in Rs 0.02-5.16-4.49-0.94-2.26-5.93-4.02-4.63-1.70-0.30-0.93-0.37-0.35
Dividend Payout % 389%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-2851.85%7.50%87.38%-221.33%-200.99%34.39%-55.68%67.01%25.73%1.43%1.33%
Change in YoY Net Profit Growth (%)0.00%2859.36%79.87%-308.70%20.34%235.37%-90.06%122.68%-41.28%-24.30%-0.10%

GMR Airports Infrastructure Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-1%
5 Years:4%
3 Years:31%
TTM:23%
Compounded Profit Growth
10 Years:6%
5 Years:11%
3 Years:3%
TTM:-34%
Stock Price CAGR
10 Years:23%
5 Years:32%
3 Years:30%
1 Year:-10%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 4:55 am

Balance Sheet

Last Updated: December 4, 2025, 1:17 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3894366046046046046046046046046041,0561,056
Reserves 6,0955,3374,3874,7392,842-1,057-3,062-2,322-1,421-1,396-2,768-3,559-3,789
Borrowings 47,33349,92939,44421,48423,44127,58034,44236,86426,63332,15735,90538,21841,465
Other Liabilities 11,28011,09114,70810,02611,01212,94914,31914,69711,27212,55714,74812,84513,359
Total Liabilities 65,09766,79459,14336,85237,89840,07546,30249,84337,08743,92148,48948,55952,090
Fixed Assets 33,63934,18334,51315,77315,64316,08016,17812,77210,32515,15728,73728,21828,572
CWIP 15,73417,2472,1552395898583,8116,62210,17611,1751,6743,8084,589
Investments 8801,4136,54512,42212,87110,11510,1199,6743,7984,4784,4254,2884,912
Other Assets 14,84513,95115,9308,4178,79513,02216,19420,77512,78813,11113,65312,24614,018
Total Assets 65,09766,79459,14336,85237,89840,07546,30249,84337,08743,92148,48948,55952,090

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2,5902,9153,4984,5042,3472,0521,37633,2562,1993,8803,443
Cash from Investing Activity + -5,512-3,159-1,6601,485-962-3,605-9872,434-2,043-2,310-5,792-3,673
Cash from Financing Activity + 634448-2,018-5,727-1,1918161,617-1,056-3,8941,731467-1,010
Net Cash Flow -2,289204-180263194-7372,0051,382-2,6811,620-1,445-1,241
Free Cash Flow -2,676-8851,0623,8871,673-782-1,510-1,514194-1,685-641-581
CFO/OP 110%122%814%150%161%160%71%-4%146%125%135%94%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-45.00-47.00418.00-18.00-22.00-26.00-32.00869.00-24.00-31.00-33.00-35.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 5553686675716211730202019
Inventory Days 1201048233203756
Days Payable 588694466366372639605
Cash Conversion Cycle -414-536-316-266-277-531-48811730202019
Working Capital Days -448-414-373-152-203-373-497-907-364-370-215-232
ROCE %3%2%-1%7%4%5%6%1%5%4%6%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.00%59.07%59.07%59.07%59.07%59.07%66.07%66.07%66.24%66.24%66.24%66.24%
FIIs 28.36%28.15%28.01%27.38%26.78%25.98%14.81%14.86%15.09%15.74%17.08%18.96%
DIIs 4.11%4.43%4.28%5.22%6.07%5.74%4.46%4.32%4.13%4.45%4.80%4.59%
Public 8.54%8.36%8.65%8.34%8.08%9.21%14.65%14.74%14.55%13.56%11.88%10.19%
No. of Shareholders 4,65,8864,43,7084,61,9995,42,9606,93,4388,66,8518,53,8728,68,0228,56,7408,14,6557,61,8007,20,205

Shareholding Pattern Chart

No. of Shareholders

GMR Airports Infrastructure Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Aditya Birla Sun Life Flexi Cap Fund 21,053,500 0.8 197.67N/AN/AN/A
Quant Infrastructure Fund 10,040,051 3.38 94.2710,374,8762026-02-23 03:17:53-3.23%
Quant Mid Cap Fund 9,168,324 1.18 86.0818,768,3242026-02-23 03:17:53-51.15%
DSP Arbitrage Fund 7,498,125 1.02 70.47,665,5252026-02-23 03:17:53-2.18%
Aditya Birla Sun Life Balanced Advantage Fund 6,316,110 0.67 59.35,000,0002026-02-23 03:17:5326.32%
UTI Arbitrage Fund 5,266,125 0.45 49.444,805,7752026-02-23 03:17:539.58%
Tata Arbitrage Fund 5,119,650 0.23 48.074,854,6002026-02-23 03:17:535.46%
SBI Equity Savings Fund 3,368,925 0.54 31.63N/AN/AN/A
Aditya Birla Sun Life Equity Savings Fund 2,957,400 2.65 27.77N/AN/AN/A
Aditya Birla Sun Life Business Cycle Fund 2,000,000 1.08 18.78N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) -0.93-0.30-1.70-4.64-4.03
Diluted EPS (Rs.) -0.93-0.30-1.70-4.64-4.03
Cash EPS (Rs.) 0.680.19-0.51-4.11-1.41
Book Value[Excl.RevalReserv]/Share (Rs.) -1.441.613.182.180.35
Book Value[Incl.RevalReserv]/Share (Rs.) -1.441.613.182.180.35
Revenue From Operations / Share (Rs.) 14.5011.097.625.9114.17
PBDIT / Share (Rs.) 5.663.844.082.025.46
PBIT / Share (Rs.) 3.232.122.600.553.70
PBT / Share (Rs.) -1.43-1.35-1.38-2.44-3.31
Net Profit / Share (Rs.) -1.74-1.53-1.99-5.58-3.17
NP After MI And SOA / Share (Rs.) -0.92-0.29-1.70-4.63-4.02
PBDIT Margin (%) 39.0434.6553.4934.1738.51
PBIT Margin (%) 22.3019.0734.169.3226.07
PBT Margin (%) -9.83-12.12-18.15-41.23-23.31
Net Profit Margin (%) -12.02-13.83-26.12-94.46-22.36
NP After MI And SOA Margin (%) -6.38-2.67-22.24-78.44-28.39
Return on Capital Employeed (%) 4.743.645.120.927.45
Return On Assets (%) -1.14-0.40-2.75-5.59-5.22
Long Term Debt / Equity (X) -15.86-35.54-29.84-18.04-10.79
Total Debt / Equity (X) -16.30-40.29-32.42-18.78-11.45
Asset Turnover Ratio (%) 0.180.000.000.000.03
Current Ratio (X) 1.060.971.031.030.74
Quick Ratio (X) 1.050.961.021.020.73
Inventory Turnover Ratio (X) 0.710.000.000.003.42
Interest Coverage Ratio (X) 1.170.981.220.670.92
Interest Coverage Ratio (Post Tax) (X) 0.600.490.780.340.65
Enterprise Value (Cr.) 83018.6054147.9448408.3743593.6536186.92
EV / Net Operating Revenue (X) 9.488.0910.5212.224.23
EV / EBITDA (X) 24.2923.3519.6735.7710.98
MarketCap / Net Operating Revenue (X) 5.633.654.844.121.15
Price / BV (X) -22.76-30.86-27.23-8.55-3.99
Price / Net Operating Revenue (X) 5.633.654.844.121.15
EarningsYield -0.01-0.01-0.04-0.19-0.24

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

GMR Airports Ltd. is a Public Limited Listed company incorporated on 10/05/1996 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L52231HR1996PLC113564 and registration number is 113564. Currently Company is involved in the business activities of Activities related to air transport of passengers, animals or freight. Company's Total Operating Revenue is Rs. 1263.40 Cr. and Equity Capital is Rs. 1055.90 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Airport & Airport ServicesUnit No. 12, 18th Floor, DLF Cyber City, Gurugram Haryana 122002Contact not found
Management
NamePosition Held
Mr. G M RaoChairman
Mr. G B S RajuVice Chairman
Mr. Grandhi Kiran KumarManaging Director & CEO
Mr. Indana Prabhakara RaoDeputy Managing Director
Mr. Alexis RiolsExecutive Director
Mr. Philippe PascalDirector
Mr. Srinivas BommidalaDirector
Mr. Alexandre Guillaume Roger ZieglerIndependent Director
Mr. Mundayat RamachandranIndependent Director
Mr. Sadhu Ram BansalIndependent Director
Mr. Subba Rao AmarthaluruIndependent Director
Mrs. Bijal Tushar AjinkyaIndependent Director
Mr. Anil ChaudhryIndependent Director
Mr. Suresh NarangIndependent Director
Mr. Emandi Sankara RaoIndependent Director
Mr. Antoine Roger Bernard CrombezAlternate Director

FAQ

What is the intrinsic value of GMR Airports Infrastructure Ltd and is it undervalued?

As of 06 April 2026, GMR Airports Infrastructure Ltd's intrinsic value is ₹9.38, which is 89.50% lower than the current market price of ₹89.30, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹2.59), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of GMR Airports Infrastructure Ltd?

GMR Airports Infrastructure Ltd is trading at ₹89.30 as of 06 April 2026, with a FY2026-2027 high of ₹110 and low of ₹72.8. The stock is currently in the middle of its 52-week range. Market cap stands at ₹94,281 Cr..

Is GMR Airports Infrastructure Ltd financially healthy?

Key indicators for GMR Airports Infrastructure Ltd: ROCE of 6.92 % is on the lower side compared to the industry average of 6.92%; ROE of % is below ideal levels. Dividend yield is 0.00 %.

Is GMR Airports Infrastructure Ltd profitable and how is the profit trend?

GMR Airports Infrastructure Ltd reported a net profit of ₹-817 Cr in Mar 2025 on revenue of ₹10,414 Cr. Compared to ₹-1,131 Cr in Mar 2022, the net profit shows a mixed trend.

Does GMR Airports Infrastructure Ltd pay dividends?

GMR Airports Infrastructure Ltd has a dividend yield of 0.00 % at the current price of ₹89.30. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in GMR Airports Infrastructure Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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