Rs 33,600 crore order book: Multibagger stock under Rs 60 in focus as company report YoY rise of 21 per cent in the toll collection of October 2024

The stock is up by 48 per cent from its 52-week low of Rs 34.70 per share and has given multibagger returns of over 600 per cent in 5 years.

On Friday, shares of IRB INFRASTRUCTURE DEVELOPERS LTD (IRB) plunged 1.44 per cent to Rs 51.42 per share from its previous closing of Rs 52.17 with an intraday high of Rs 52.49 and an intraday low of Rs 51.16. The stock’s 52-week high is Rs 78.05 and its 52-week low is Rs 34.70.

IRB Infrastructure Developers Ltd. and IRB Infrastructure Trust (Private InvIT) have reported a significant year-over-year (YoY) increase of approximately 21 per cent in their combined toll collections for October 2024. This growth is attributed to the robust performance of their road infrastructure projects. The total toll collection for the month amounted to Rs 539.60 crore, a substantial rise from the Rs 447.80 crroe collected in October 2023. This positive trend indicates a promising outlook for the company's financial performance in the ongoing fiscal year.

IRB Infrastructure Developers Ltd (IRB) is India’s first Integrated Multi-National Transport Infrastructure Developer in Roads & Highways segment. The Company has acquired ISO Certification in Quality (ISO 9001); Environment Management (ISO 14001), Occupational Health and Safety (ISO 45001) and IT Security (ISO 27001) from the ISOQAR, United Kingdom. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approx. Rs 80,000 crore in 12 States across the parent company and two InvITs.

The Company has strong track record of constructing, tolling, operating and maintaining around 18,500 lane Kms pan India in its existence of more than 25 years in India; of which 15,500 Lane Kms are under operations at present. The group commands a market share of around 34 per cent in the TOT space. It also comprises 12% share in India’s North South highway connectivity. After successfully completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group’s project portfolio (including Private and Public InvIT) has now 26 road projects that include 18 BOT, 4 TOT and 4 HAM projects.

The company has a market cap of over Rs 31,000 crore. As of June 2024, LIC owns a 3.33 per cent stake in the company and has an order book worth Rs 33,600 crore as of June 30, 2024. On May 30, 2024, the promoters of the company sold 24,00,00,000 shares or 3.97 per cent via the open market on BSE and NSE. The stock is up by 48 per cent from its 52-week low of Rs 34.70 per share and has given multibagger returns of over 600 per cent in 5 years. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.