Is GMR Airports a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that GMR Airports Ltd is a below average quality company .

Is GMR Airports undervalued or overvalued?

The key valuation ratios of GMR Airports Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is GMR Airports share price return in the past 10 years?

GMR Airports Ltd share price has appreciated 14.5% annually (CAGR) over the past ten years.

Is GMR Airports a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GMR Airports Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

GMR Airports Ltd - Stock Valuation and Financial Performance

Name: GMR Airports
Brand: GMR Airports

BSE: 532754 | NSE: GMRINFRA | Airport Management Services | Mid Cap

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GMR Airports Share Price

₹76.80 -3.72 -4.62%
as on 21-Nov'24 16:00

10 Year X-Ray of GMR Airports:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	1.3%	-6.5%	-20.8%	1.3%	-0.9%	-2.9%	-0.2%	-0.2%	-0.7%	0.7%	-
Value Creation Index ⓘ	-0.9	-1.5	-2.5	-0.9	-1.1	-1.2	-1.0	-1.0	-1.1	-0.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	650	1,239	1,180	742	1,101	1,155	7.3	39.1	623	822	617
Sales YoY Gr.	-	90.7%	-4.8%	-37.1%	48.3%	4.9%	-99.4%	432.9%	1,495.6%	31.9%	-
Adj EPS ⓘ	-0.8	-3.3	-6.1	-1	-1.8	-2.4	-0.2	-0.3	-1.4	-0.9	-0.2
YoY Gr.	-	NA	NA	NA	NA	NA	NA	NA	NA	NA	-
BVPS (₹) ⓘ	19.1	19.1	10.8	28.4	19.4	20	16.1	17.2	55.9	87.9	45.2
Adj Net Profit ⓘ	-357	-1,722	-3,677	-606	-1,065	-1,457	-117	-158	-857	-537	-201
Cash Flow from Ops. ⓘ	-112	-23	46.5	-170	452	-154	46.1	-24.9	1.8	6.9	-
Debt/CF from Ops. ⓘ	-38.1	-245.8	128.3	-39.9	15.9	-53	111.5	-30.5	4392.7	1112.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	2.7%	-5.7%	382.3%	31.9%
Adj EPS ⓘ	NA	NA	NA	NA
BVPSⓘ	18.5%	35.3%	76%	57.2%
Share Price	14.5%	30%	25%	33.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	-3.8	-16.7	-44.1	-5.1	-7.4	-12.3	-1.1	-1.6	-3.8	-1.2	-0.3
Op. Profit Mgn % ⓘ	69.2	82.1	62.6	-9.2	23.2	41.4	-340.3	-9.4	40.3	42.5	45.9
Net Profit Mgn % ⓘ	-55	-138.9	-311.7	-81.6	-96.7	-126.2	-1590.7	-405.6	-137.5	-65.3	-32.5
Debt to Equity ⓘ	0.5	0.6	0.9	0.4	0.6	0.7	0.5	0.1	0.2	0.2	0.2
Working Cap Days ⓘ	2,881	1,861	1,613	1,695	1,196	1,255	2,11,687	21,959	727	1,119	161
Cash Conv. Cycle ⓘ	-272	-213	-115	-84	-105	-131	-67,199	-2,685	-119	-73	-154

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 382.27%

Sales growth is good in last 4 quarters at 89.57%

Return on Equity is Poor

Latest Financials - GMR Airports Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-0.2	-0.8
TTM Sales (₹ Cr.)	617	9,571
BVPS (₹.) ⓘ	45.2	-2.4
Reserves (₹ Cr.) ⓘ	46,689	-3,622
P/BV ⓘ	1.78	-33.13
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	56.40 / 103.70
All Time Low / High (₹)	9.58 / 131.81
Market Cap (₹ Cr.)	85,021
Equity (₹ Cr.)	1,055.9
Face Value (₹)	1
Industry PE ⓘ	30.6

Management X-Ray of GMR Airports:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

68.03

74.86

67.17

70.27

71.00

68.68

63.35

58.23

58.03

27.09

* Pledged shares as % of Promoter's holding (%)

Valuation of GMR Airports

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Price to Earnings

Enterprise Value to EBIT

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Analyst's Notes

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Key Ratios of GMR Airports

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	650	1,239	1,180	742	1,101	1,155	7	39	623	822
Operating Expenses ⓘ	200	222	451	811	845	710	32	44	372	475
Manufacturing Costs	94	102	192	279	266	209	0	0	93	209
Material Costs	33	28	113	377	448	360	0	20	5	2
Employee Cost	25	39	52	52	47	41	1	1	56	82
Other Costs ⓘ	48	53	94	104	84	100	32	23	218	181
Operating Profit ⓘ	450	1,018	728	-69	256	445	-25	-5	251	347
Operating Profit Margin (%)	69.2%	82.1%	61.7%	-9.2%	23.2%	38.5%	-340.0%	-12.6%	40.3%	42.2%
Other Income ⓘ	19	17	3	416	48	8	1	1	220	15
Interest ⓘ	537	708	745	822	846	893	78	79	1,008	882
Depreciation ⓘ	20	16	16	19	24	24	1	1	2	13
Exceptional Items ⓘ	-262	-2,016	-3,654	-94	-476	-990	-13	-17	-646	-5
Profit Before Tax ⓘ	-351	-1,706	-3,684	-588	-1,042	-1,454	-117	-101	-1,184	-537
Tax ⓘ	2	15	0	0	-8	25	0	59	-2	5
Profit After Tax	-353	-1,720	-3,684	-588	-1,034	-1,479	-117	-159	-1,183	-542
PAT Margin (%)	-54.3%	-138.0%	-312.0%	-79.1%	-93.9%	-128.0%	-1,590.5%	-407.0%	-189.0%	-65.9%
Adjusted EPS (₹)	-0.8	-3.3	-6.1	-1.0	-1.7	-2.5	-0.2	-0.3	-2.0	-0.9
Dividend Payout Ratio (%)	-1%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	9,456	10,168	6,517	17,114	11,701	12,068	9,738	10,392	33,738	53,037
Share Capital ⓘ	1,573	604	604	604	604	604	604	604	604	604
Reserves ⓘ	7,883	9,564	5,914	16,510	11,098	11,464	9,134	9,788	33,134	52,433
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	3,512	5,329	5,204	5,953	6,177	7,160	4,506	760	7,731	7,688
Long Term Debt	3,366	5,192	5,092	5,185	5,234	6,341	3,721	620	4,428	7,506
Short Term Debt	146	138	113	769	944	819	785	140	3,303	181
Trade Payables	161	100	220	333	496	552	563	18	118	101
Others Liabilities ⓘ	2,058	951	1,403	3,006	3,918	4,502	3,459	1,914	10,853	16,942
Total Liabilities ⓘ	15,187	16,548	13,344	26,407	22,293	24,282	18,265	13,084	52,441	77,768
Fixed Assets
Gross Block	139	91	103	169	232	225	231	7	25	244
Accumulated Depreciation	56	16	32	49	73	91	103	6	17	30
Net Fixed Assetsⓘ	83	76	71	119	159	135	129	1	7	215
CWIP ⓘ	0	0	0	21	0	0	0	0	46	7
Investmentsⓘ	9,126	9,055	9,824	22,620	12,239	15,117	13,805	12,614	47,850	74,491
Inventories	5	9	66	38	45	98	79	0	0	2
Trade Receivables	148	112	68	50	395	539	334	25	97	143
Cash Equivalents	399	334	45	93	25	25	85	15	2,508	41
Others Assetsⓘ	5,427	6,963	3,269	3,466	9,430	8,368	3,834	428	1,932	2,869
Total Assets ⓘ	15,187	16,548	13,344	26,407	22,293	24,282	18,265	13,084	52,441	77,768

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	-112	-23	47	-170	452	-154	46	-25	2	7
PBT ⓘ	-351	-1,706	-3,684	-588	-1,042	-1,454	-1,286	-251	-1,184	-537
Adjustment ⓘ	340	1,680	3,646	577	1,137	1,497	1,296	311	1,154	699
Changes in Working Capital ⓘ	-71	34	97	-210	372	-178	35	-89	-37	-145
Tax Paid ⓘ	-31	-32	-13	51	-14	-20	2	4	70	-10
Cash Flow From Investing Activity ⓘ	-370	-1,538	-9	-25	75	43	2,622	223	209	-1,276
Capex	-4	-9	-30	-77	-37	3	-10	1	-41	-40
Net Investments	875	167	168	126	-98	1,127	4,063	-7	638	491
Others ⓘ	-1,241	-1,696	-147	-75	211	-1,087	-1,431	229	-387	-1,727
Cash Flow From Financing Activityⓘ	877	1,498	-335	248	-591	123	-2,634	-233	2,112	-1,161
Net Proceeds from Shares ⓘ	2,473	493	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-878	434	357	459	-187	871	-2,020	-112	2,994	-62
Interest Paid ⓘ	-574	574	-668	-875	-573	-630	-634	-400	-686	-1,018
Dividend Paid ⓘ	-43	0	0	0	0	0	0	0	0	0
Others ⓘ	-102	-3	-24	664	169	-119	19	279	-196	-81
Net Cash Flow ⓘ	394	-63	-298	53	-63	11	34	-35	2,323	-2,430

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	-4.53	-18.68	-44.36	-4.97	-7.18	-12.45	-1.07	-1.58	-5.36	-1.25
ROCE (%)	1.32	-6.52	-20.77	1.29	-0.92	-2.87	-0.22	-0.17	-0.66	0.67
Asset Turnover Ratio	0.04	0.08	0.08	0.04	0.05	0.05	0	0	0.02	0.01
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Working Capital Days
Receivable Days	83	38	28	29	74	148	0	1,677	36	53
Inventory Days	27	2	12	26	14	23	4,411	0	0	1
Payable Days	2,015	1,726	516	268	338	531	0	5,344	5,333	0

GMR Airports Ltd Stock News

GMR Airports Ltd FAQs

What is the share price of GMR Airports?

Company share prices are keep on changing according to the market conditions. The closing price of GMR Airports on 21-Nov-2024 16:00 is ₹76.80.

What is the market cap of GMR Airports?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 16:00 the market cap of GMR Airports stood at ₹85,020.9.

What is the P/E ratio of GMR Airports?

The latest P/E ratio of GMR Airports as of 21-Nov-2024 16:00 is 0.00.

What is the P/B ratio of GMR Airports?

The latest P/B ratio of GMR Airports as of 21-Nov-2024 16:00 is 1.78.

What is the 52-week high and low of GMR Airports?

The 52-week high of GMR Airports is ₹103.7 and the 52-week low is ₹56.40.

What is the TTM revenue of GMR Airports?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GMR Airports is ₹616.7 ( Cr.) .

About GMR Airports Ltd

GMR Infrastructure Limited (GIL) is a public limited company domiciled and incorporated in India under the Indian Companies Act, 1956. The registered office of the Company is Naman Centre, 7th Floor, opposite Dena Bank, Plot No.C-31 G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra.

The company incorporated in May 1996, was earlier known as Varalakshmi Vasavi Power Projects and is located in Andhra Pradesh. The name was changed to GMR Vasavi Infrastructure Finance in 1999, and later to GMR Infrastructure in the year 2000.

Business area of the company

The company and its subsidiaries, associates, joint ventures and jointly controlled operations(hereinafter collectively referred to as ‘the Group’) are mainly engaged in development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones, and construction business including Engineering, Procurement and Construction (‘EPC’) contracting activities.

Airport sector

Certain entities of the Group are engaged in development, maintenance and operation of airport infrastructure such as greenfield international airports at Hyderabad and Goa and modernisation, maintenance and operation of international airports at Delhi and Cebu on build, own, operate and transfer basis.

Power sector

Certain entities of the Group are involved in the generation of power. These are separate Special Purpose Vehicles (‘SPV’) which have entered into Power Purchase Agreements (‘PPA’) with the electricity distribution companies of the respective state governments / other government authorities (either on the basis of Memorandum of Understanding or through a bid process) or short-term power supply agreements to generate and sell power directly to consumers as a merchant plant. Certain entities of the Group are involved in the coal mining and exploration activities and the Group is also involved in energy and coal trading activities through its subsidiaries.

Development of Highways

Certain entities of the Group are engaged in development of highways on build, operate and transfer model on annuity or toll basis. These are SPVs which have entered into concessionaire agreements with National Highways Authority of India (‘NHAI’) or the respective state governments for carrying out these projects.

Construction business

Certain entities of the Group are in the business of construction including as an EPC contractor. These entities are engaged in handling of EPC solution in the infrastructure sector.

Others

Entities of the Group which cover all residual activities of the Group that include special economic zones, operations of hotels, investment activities and management / technical consultancy.

Awards and Accolades

FY 2016-17

World’s second best airport in the 40 million + pax category as well as second best airport in Asia Pacific region as rated by Airports Council International.
Best Airport Staff in India and Central Asia in 2017.
SKYTRAX World Airport Awards for Third year in a row.
Best Airport - Central and South Asia, FTE Asia Awards 2016.
Golden Peacock Award for Social Responsibility’ in the Aviation Transport Category in 2016.
First Airport in Asia Pacific region to achieve Carbon Neutral Accreditation.
First Airport in the world to adopt Green Building Monitoring Platform System - ARC.
Platinum Rating from Indian Green Building Council for Terminal 3.
Best PR case study, Best corporate event and social media campaign of 2016 at the Public Relations Council Summit.
Excellence in Cost Management.
Overall Social Media Strategy Award 2016 for various travellers - friendly social media initiatives.
Special Recognition in the 29th Quality Circle Competition by CII.
CII National Excellence Practice Competition-2016.

FY 2017-18

World’s best airport in the 40 million+ pax category for Airport Service Quality (ASQ) as rated by Airports Council International (ACI).
Golden Peacock Award for Corporate Ethics.
Golden Peacock Award for Occupational Health and Safety.
Silver recognition in the ACI Asia Pacific Green Airports Award.
Most Sustainable and Green Airport Award at Wings India.
Quality Excellence Award for Best Airport Security and Best Airport Community Development at the World Quality Congress held in Mumbai.
Winners in six categories at the Public Relations Council of India Communication Awards

FY 2018-19

Awarded the Best Airport in the region in its category in Airport Service Quality by ACI.
Became the only Indian Airport to be rated as 4 star by Skytrax and ranked as best Airport in Central Asia and number 9 worldwide in 60- 70 Mn category.
Certified as India’s First eAWB360 compliance Airport by International Air Transport Association (IATA).
Won the Golden Peacock award for sustainability and national training award.
Received the highest environmental recognition for Airports “Platinum” by ACI for Green Airports.
Received the Hermes Platinum Award for Social Media Campaign “Creating Tomorrow Together.”
Delhi Cargo Terminal - Celebi received “Best Cold Chain Cargo Terminal of the Year” in Cold Chain Industry Awards by FSC.
National Award for Excellence 2018 by Confederation of Indian Industry (CII).
Received the CII National 5S Excellence Award.
Grow Care Safety Award 2018 in Gold Category.
Business Process Management (BPM) Asia Achiever’s Award 2018.
Received various awards in the Garden Tourism Festival.
Received India’s Best Airport award organized by Travel Leisure Magazine 2.
Delhi International Airport Limited (DIAL) has added one more feather in its cap by winning an award of Top 25 Innovative Companies in India.

FY 2019-20

Delhi Airport has once again emerged as Best Airport in the over 40 million passengers per annum (MPPA) category in Asia Pacific region by ACI in the Airport Service Quality Programme (ASQ) 2019 rankings.
Delhi Airport was voted as the Best Airport in India and Central Asia at the 2020 World Airport Awards by Skytrax.
Delhi Airport has also been awarded as Global 4 Star Airport for 2nd consecutive year by Skytrax, being the only Airport in India to achieve this feat.
DIAL was conferred with “Cargo Airport of the year India Region” by The STAT Times International for excellence in Air Cargo.
The 6th edition of ICAO Global Aviation Training and TRAINAIR PLUS Symposium was successfully organized under the aegis of GMR Aviation Academy and Delhi International Airport Limited (DIAL), in Delhi from 04th to 06th December 2019.