Rs 33,600 crore order book: Multibagger stock under Rs 65 to keep under the radar as toll collection increases 20 per cent on YoY basis

The stock gave multibagger returns of 108 per cent from its 52-week low of Rs 28.76 per share and a whopping 675 per cent in 5 years.

On Wednesday, shares of IRB INFRASTRUCTURE DEVELOPERS LTD (IRB) plunged 4.13 per cent to Rs 59.85 per share from its previous closing of Rs 62.43 with an intraday high of Rs 63 and an intraday low of Rs 59.51. The stock’s 52-week high is Rs 78.05 and its 52-week low is Rs 28.67. The shares of the company saw a spurt in volume by more than 2.07 times on BSE.

IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have continued their strong financial performance in August 2024, reporting a substantial 20 per cent year-over-year (YoY) increase in toll revenue. This growth momentum has persisted from the previous month, demonstrating a positive trend for the second quarter of the current fiscal year.

The combined toll revenue for both entities reached Rs 503 crore in August 2024, up from Rs 417 crore in the same period last year. This significant increase indicates growing traffic volumes on the roads managed by IRB. As a leading infrastructure developer in India, IRB operates a vast network of toll roads across 12 states, contributing to the nation's transportation infrastructure.

With an asset base of approximately Rs 80,000 crore, IRB has a strong track record of constructing, operating, and maintaining toll roads. The company currently manages 15,500 lane kilometres of toll roads, out of a total of 18,500 lane kilometres constructed over its more than 25-year history. This extensive network gives IRB a market share of around 38 per cent in the Toll Operate Transfer (TOT) space and a 12 per cent share in India's North-South highway connectivity.

Looking ahead, IRB's project portfolio includes 26 road projects, comprising 18 Build-Operate-Transfer (BOT) projects, 4 TOT projects and 4 Hybrid Annuity Model (HAM) projects. This diverse portfolio positions IRB for continued growth and success in the Indian infrastructure market.

The company has a market cap of over Rs 36,000 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 gave multibagger returns of 108 per cent from its 52-week low of Rs 28.76 per share and a whopping 675 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. 

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