Rs 34,800 crore order book & Promoters sold 24 crore shares: LIC-backed transport infrastructure developer company’s toll revenue grows 30 per cent YoY

The stock gave multibagger returns of 186 per cent from its 52-week low of Rs 24.97 per share and a whopping 460 per cent in 3 years.

On Thursday, shares of IRB INFRASTRUCTURE DEVELOPERS LTD (IRB) backed by Life Insurance Corporation of India (LIC) gained 6.15 per cent to an intraday high of Rs 71.35 per share from its previous closing of Rs 67.31. The stock’s 52-week high is Rs 76.55 and its 52-week low is Rs 24.97.

IRB Infrastructure Developers Limited and its associate IRB Infrastructure Trust, which is India's largest Infrastructure Investment Trust, began the new fiscal year (FY25) with a strong performance. Their combined toll revenue in April 2024, the first month of FY25, saw a significant 29 per cent year-over-year increase, reaching Rs 503 crore compared to Rs 388 crore in April 2023. This growth is further bolstered by the contribution of newly acquired TOT 12 and TOT 13 assets and comes on the heels of a robust 24 per cent toll revenue growth for the entire FY24 compared to the previous year.

According to Quarterly Results, the net sales increased by 27.2 per cent to Rs 2,061.24 crore and net profit increased by 94.2 per cent to Rs 324.20 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 15.7 per cent to Rs 7,409 crore and net profit increased by 11.3 per cent to Rs 920.67 crore in FY24 compared to FY23.

IRB Infrastructure Developers Limited and IRB Infrastructure Trust, the leading and largest integrated multi-national transport infrastructure developer in the highways sector and India's largest Infrastructure Investment Trust, respectively, maintained their strong toll revenue growth in May 2024. They reported a combined Y-o-Y increase of 30 per cent in toll revenue, collecting Rs. 536 crore in May 2024 compared to Rs. 411 crore in May 2023. This positive trend follows similar growth in April 2024.

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IRB Infrastructure Developers Ltd (IRB), a leading Indian infrastructure development and construction company with 25 years of experience, focuses on roads and highways but also handles road maintenance, construction, airport development, and real estate. As India's largest integrated private toll roads and highways developer, IRB boasts an asset base of around Rs 80,000 crores across 12 states, managing a network of nearly 18,500 lane kilometres through its projects and two Infrastructure Investment Trusts (InvITs). The company holds a significant market share of 38 per cent in the Toll Operate Transfer (TOT) space and contributes 12 per cent to the North-South highway connectivity in India. IRB's portfolio currently includes 26 road projects - 18 Build-Operate-Transfer (BOT), 4 TOT, and 4 Hybrid Annuity Model (HAM) - having completed and handed over 13 concessions to government agencies.

The company has a market cap of over Rs 44,000 crore. As of March 2024, LIC owns a 3.33 per cent stake in the company and has an order book worth Rs 34,800 crore as of March 31, 2023. As of March 2023, FIIs have increased their stake to 47.21 per cent compared to 47.16 per cent in December 2023. 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 186 per cent from its 52-week low of Rs 24.97 per share and a whopping 460 per cent in 3 years. Investors should keep an eye on this stock.

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