Rs 21,126.7 crore order book and FIIs & DIIs increase stake in FY24: Civil construction stock hit 52-week high; Scrip trades at low PE, high ROE & high ROCE
The shares of the company have a PE of 8.6x, an ROE of 26 per cent and an ROCE of 22 per cent.
Today, shares of G R Infraprojects Ltd gained 1.95 per cent and made a fresh new 52-week high of Rs 1,790.45 per share from its previous closing of Rs 1,756.20. At the closing bell, shares of the company were trading at Rs 1,751.95 per share, down 0.24 per share.
Incorporated in 1995, G R Infraprojects Ltd is an integrated road engineering, procurement, and construction company (EPC) with experience in the design and construction of various road/highway projects across 15 States in India. It mainly undertakes civil construction projects under the road sector's EPC and BOT (Build Operate Transfer) basis.
Earlier, GR Infraprojects Ltd was awarded two tenders by Maharashtra State Road Development Corporation Limited on May 21, 2024. The first project involves constructing a 9.341 km section of the Access Controlled Pune Ring Road (Package PRR W5) for Rs 1,997.07 crore and must be finished within 36 months. The second project is a 33.300 km stretch of the Nagpur-Chandrapur Access Controlled Super Communication Expressway (Package NC-01) for Rs 2,349.07 crore with a completion timeframe of 30 months.
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According to the financials, GR Infraprojects Ltd has a market cap of over Rs 17,000 crore and the order book as of March 31, 2023, stands at Rs 16,780.6 crore (including the above order, the company’s order book stands at Rs 21,126.7 crore). The company reported positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24).
As of March 2024, FIIs increased their stake to 0.76 per cent and DIIs increased their stake to 20.61 per cent compared to 0.57 per cent and 15.86 per cent, respectively in December 2023. The shares of the company have a PE of 8.6x, an ROE of 26 per cent and an ROCE of 22 per cent. The stock is up by 75 per cent from its 52-week low of Rs 1,025 per share. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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