External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>In FY22, G R Infraprojects reported operating revenue growth of 9.31% to Rs 7,919 Cr.</li><li>The growth was largely contributed by the increase in the sales of services and products and the increase in other operating revenue.</li><li>As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of Rs 9,350 Cr. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In FY22, G R Infraprojects reported operating revenue growth of 9.31% to Rs 7,919 Cr.The growth was largely contributed by the increase in the sales of services and products and the increase in other operating revenue.As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of Rs 9,350 Cr. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

G R Infraprojects Ltd - Robust Order Book

<ul><li>GR Infraprojects Ltd (GRIL) reported a decent set of numbers in Q4FY22. The company reported revenue of Rs 2,268 Cr, better than our estimate of Rs 2,103 Cr, down 13.7% YoY</li><li>It registered EBITDA Margins of 17.8% in Q4FY22 (our estimate: 14.9%) as against 15.6% in Q4FY21</li><li>We maintain a BUY on GRIL and value the EPC business at 15x FY24E EPS and HAM portfolio at 1x Book Value to arrive at a target price of Rs 1,765/share, implying an upside of 26% from the CMP.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GR Infraprojects Ltd (GRIL) reported a decent set of numbers in Q4FY22. The company reported revenue of Rs 2,268 Cr, better than our estimate of Rs 2,103 Cr, down 13.7% YoYIt registered EBITDA Margins of 17.8% in Q4FY22 (our estimate: 14.9%) as against 15.6% in Q4FY21We maintain a BUY on GRIL and value the EPC business at 15x FY24E EPS and HAM portfolio at 1x Book Value to arrive at a target price of Rs 1,765/share, implying an upside of 26% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

G R Infraprojects: Efficient Execution to Drive Growth; Maintain BUY

India

G R Infraprojects Limited (GRIL) is an integrated Engineering, Procurement, and Construction (EPC) company primarily focused on the road infrastructure sector. It also diversifies into railways, metro projects, tunneling, power infrastructure, ropeways, and manufacturing. The company is headquartered in Udaipur, India, and was founded in 1995.

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G R Infraprojects (GRINFRA IN)

G R Infraprojects Ltd - Robust Order Book

As of 31st March 2022, the company’s order book stands healthy at Rs 13,104 Cr. In FY22, it was awarded 10 projects with a combined order value of...

Axis Direct

G R Infraprojects: Efficient Execution to Drive Growth; Maintain BUY

We maintain a BUY on GRIL and value the EPC business at 15x FY24E EPS and HAM portfolio at 1x Book Value to arrive at a target price of Rs...

Axis Direct

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