Is IRB Infrastructure Developers a good quality company?

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

Is IRB Infrastructure Developers undervalued or overvalued?

The key valuation ratios of IRB Infrastructure Developers Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is IRB Infrastructure Developers share price return in the past 10 years?

IRB Infrastructure Developers Ltd share price has appreciated 5.5% annually (CAGR) over the past ten years.

Is IRB Infrastructure Developers a good buy now?

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

What is the P/E ratio of IRB Infrastructure Developers?

The latest standalone P/E ratio of IRB Infrastructure Developers as of 21-Nov-2024 is 34.75.

What is the P/B ratio of IRB Infrastructure Developers?

The latest standalone P/B ratio of IRB Infrastructure Developers as of 21-Nov-2024 is 2.94.

What is the 52-week high and low of IRB Infrastructure Developers?

The 52-week high of IRB Infrastructure Developers is Rs. 78.05 and the 52-week low is Rs. 36.02.

What is the TTM revenue of IRB Infrastructure Developers?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IRB Infrastructure Developers is Rs. 5014.38 (Cr.).

IRB Infrastructure Developers Ltd - Stock Valuation and Financial Performance

Name: IRB Infrastructure Developers
Brand: IRB Infrastructure Developers

BSE: 532947 | NSE: IRB | Engineering - Construction | Mid Cap

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IRB Infra.&Developer Share Price

₹45.84 -1.59 -3.35%
as on 21-Nov'24 15:49

10 Year X-Ray of IRB Infra.&Developer:

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 % ⓘ	10.3%	12.6%	10.4%	10.6%	9.1%	7.8%	5.9%	8.6%	5.8%	9.6%	-
Value Creation Index ⓘ	-0.3	-0.1	-0.2	-0.2	-0.4	-0.5	-0.6	-0.4	-0.6	-0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,957	2,774	3,422	2,900	3,385	3,992	2,750	2,600	4,160	4,826	5,014
Sales YoY Gr.	-	41.7%	23.4%	-15.2%	16.7%	17.9%	-31.1%	-5.5%	60%	16%	-
Adj EPS ⓘ	0.4	0.8	0.6	1.3	0.9	0.8	0.5	0.5	0.6	1.3	1.4
YoY Gr.	-	112.8%	-31.3%	119.3%	-24.8%	-16%	-32.9%	0%	5.7%	123.2%	-
BVPS (₹) ⓘ	6.1	6.8	7.1	7.1	7.5	7.3	8.1	14.1	14.8	15.7	16.1
Adj Net Profit ⓘ	138	292	202	440	329	279	187	317	337	755	821
Cash Flow from Ops. ⓘ	648	536	619	-1,727	1,065	-425	1,422	-291	250	1,149	-
Debt/CF from Ops. ⓘ	3.9	5.5	5.9	-3.1	4.3	-18.9	7	-18.8	23.3	8.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	10.6%	7.4%	20.6%	16%
Adj EPS ⓘ	13.8%	5.9%	33.1%	123.2%
BVPSⓘ	11%	16%	24.6%	6%
Share Price	5.5%	40%	27.5%	23.5%

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 % ⓘ	7.1	12.9	8.3	17.6	12.8	10.7	6.9	5.6	3.9	8.2	8.5
Op. Profit Mgn % ⓘ	10.3	8.5	10.9	11	13.4	13.1	13.7	26	10.4	12.2	10.5
Net Profit Mgn % ⓘ	7.1	10.5	5.9	15.2	9.7	7	6.8	12.2	8.1	15.6	16.4
Debt to Equity ⓘ	1.2	1.2	1.5	2.2	1.8	3.1	3.5	0.6	0.7	1	0.5
Working Cap Days ⓘ	666	557	341	366	356	369	627	697	547	506	127
Cash Conv. Cycle ⓘ	21	13	6	45	62	31	23	28	37	47	-141

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.50%

Sales growth is growing at healthy rate in last 3 years 20.62%

Net Profit is growing at healthy rate in last 3 years 33.11%

Debt to equity has declined versus last 3 years average to 0.98

Sales growth is good in last 4 quarters at 24.53%

No data to display

Latest Financials - IRB Infrastructure Developers Ltd.

	Standalone	Consolidated
TTM EPS (₹)	1.4	1
TTM Sales (₹ Cr.)	5,014	7,469
BVPS (₹.) ⓘ	16.1	23.1
Reserves (₹ Cr.) ⓘ	9,134	13,332
P/BV ⓘ	2.94	2.06
PE ⓘ	34.75	46.49

From the Market
52 Week Low / High (₹)	36.02 / 78.05
All Time Low / High (₹)	4.60 / 78.05
Market Cap (₹ Cr.)	28,643
Equity (₹ Cr.)	603.9
Face Value (₹)	1
Industry PE ⓘ	35.9

Management X-Ray of IRB Infra.&Developer:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

49.12

49.11

48.85

55.27

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

Valuation of IRB Infra.&Developer

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Dividend History

Analyst's Notes

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Key Ratios of IRB Infra.&Developer

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	1,957	2,774	3,421	2,900	3,385	3,992	2,750	2,600	4,160	4,826
Operating Expenses ⓘ	1,756	2,538	3,047	2,580	2,933	3,469	2,372	1,924	3,729	4,239
Manufacturing Costs	1,726	2,477	2,939	2,429	2,806	3,225	2,234	1,784	3,579	4,071
Material Costs	0	0	0	0	0	98	0	0	0	0
Employee Cost	15	29	59	88	53	61	43	48	76	84
Other Costs ⓘ	15	32	50	64	74	86	96	91	74	84
Operating Profit ⓘ	201	236	374	320	452	523	378	676	431	587
Operating Profit Margin (%)	10.3%	8.5%	10.9%	11.0%	13.3%	13.1%	13.7%	26.0%	10.4%	12.2%
Other Income ⓘ	244	393	223	426	239	171	320	476	403	1,025
Interest ⓘ	271	280	306	231	230	323	495	722	375	708
Depreciation ⓘ	0	0	0	0	0	0	0	0	0	0
Exceptional Items ⓘ	0	0	0	0	0	-2	0	0	0	0
Profit Before Tax ⓘ	174	349	292	516	460	368	203	430	459	904
Tax ⓘ	35	57	89	72	131	89	14	110	87	141
Profit After Tax	138	292	203	444	329	279	189	320	372	762
PAT Margin (%)	7.1%	10.5%	5.9%	15.3%	9.7%	7.0%	6.9%	12.3%	8.9%	15.8%
Adjusted EPS (₹)	0.4	0.8	0.6	1.3	0.9	0.8	0.5	0.5	0.6	1.3
Dividend Payout Ratio (%)	102%	48%	86%	40%	27%	63%	0%	0%	32%	24%

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	2,150	2,372	2,505	2,509	2,633	2,566	2,856	8,487	8,953	9,484
Share Capital ⓘ	351	351	351	351	351	351	351	604	604	604
Reserves ⓘ	1,798	2,021	2,154	2,158	2,281	2,214	2,505	7,883	8,349	8,880
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	1,997	2,497	3,079	4,752	3,848	7,500	9,760	5,361	5,527	8,804
Long Term Debt	1,405	1,184	1,601	957	918	1,473	5,202	3,015	2,823	5,216
Short Term Debt	592	1,313	1,479	3,795	2,929	6,027	4,558	2,345	2,703	3,589
Trade Payables	455	818	971	569	665	630	911	665	1,235	1,938
Others Liabilities ⓘ	2,544	2,301	2,710	2,803	2,867	2,414	1,549	1,139	1,293	1,782
Total Liabilities ⓘ	7,146	7,988	9,265	10,634	10,013	13,109	15,076	15,652	17,007	22,008
Fixed Assets
Gross Block	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0
Net Fixed Assetsⓘ	0	0	0	0	0	0	0	0	0	0
CWIP ⓘ	0	0	0	0	0	0	0	0	0	0
Investmentsⓘ	2,317	2,502	5,401	5,804	6,418	6,450	8,975	8,270	8,752	13,770
Inventories	0	0	0	0	0	0	0	0	0	0
Trade Receivables	92	101	9	708	452	239	171	293	549	778
Cash Equivalents	885	960	978	885	935	1,256	2,059	1,493	1,679	1,446
Others Assetsⓘ	3,851	4,426	2,877	3,236	2,209	5,165	3,871	5,598	6,028	6,014
Total Assets ⓘ	7,146	7,988	9,265	10,634	10,013	13,109	15,076	15,652	17,007	22,008

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 ⓘ	648	536	619	-1,727	1,065	-425	1,422	-290	250	1,149
PBT ⓘ	174	349	292	516	460	368	203	430	459	904
Adjustment ⓘ	17	-150	43	-200	-6	150	172	251	-32	-310
Changes in Working Capital ⓘ	497	387	354	-1967	683	-797	1094	-930	-151	664
Tax Paid ⓘ	-40	-50	-70	-76	-72	-146	-46	-42	-26	-109
Cash Flow From Investing Activity ⓘ	-1,087	-437	-1,031	459	52	-2,362	-2,391	-269	-26	-3,795
Capex	0	0	0	0	0	0	0	0	0	0
Net Investments	-504	-190	-64	-484	-785	-1,243	-860	-99	-429	-4,865
Others ⓘ	-584	-247	-967	943	837	-1,119	-1,531	-170	404	1,070
Cash Flow From Financing Activityⓘ	430	-64	382	1,262	-1,117	3,124	1,201	-12	-31	2,549
Net Proceeds from Shares ⓘ	440	0	0	0	0	0	0	5,287	0	0
Net Proceeds from Borrowing ⓘ	238	-330	567	-547	62	349	-772	-1,267	0	5,319
Interest Paid ⓘ	-260	-244	-280	-226	-226	-322	-494	-713	-318	-753
Dividend Paid ⓘ	-66	-211	-70	-281	-88	0	-176	0	-75	-166
Others ⓘ	79	721	165	2,316	-865	3,097	2,643	-3,320	362	-1,850
Net Cash Flow ⓘ	-9	36	-29	-6	0	337	232	-571	193	-97

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 (%)	7.14	12.92	8.33	17.71	12.79	10.74	6.95	5.64	4.27	8.27
ROCE (%)	10.31	12.6	10.44	10.61	9.11	7.75	5.94	8.59	5.81	9.6
Asset Turnover Ratio	0.3	0.37	0.4	0.29	0.33	0.35	0.2	0.17	0.25	0.25
PAT to CFO Conversion(x)	4.7	1.84	3.05	-3.89	3.24	-1.52	7.52	-0.91	0.67	1.51
Working Capital Days
Receivable Days	21	13	6	45	63	32	27	33	37	50
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	1,241	0	0	0	0

IRB Infrastructure Developers Ltd Stock News

IRB Infrastructure Developers Ltd FAQs

What is the share price of IRB Infra.&Developer?

Company share prices are keep on changing according to the market conditions. The closing price of IRB Infra.&Developer on 21-Nov-2024 15:49 is ₹45.84.

What is the market cap of IRB Infra.&Developer?

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 15:49 the market cap of IRB Infra.&Developer stood at ₹28,643.

What is the P/E ratio of IRB Infra.&Developer?

The latest P/E ratio of IRB Infra.&Developer as of 21-Nov-2024 15:49 is 34.75.

What is the P/B ratio of IRB Infra.&Developer?

The latest P/B ratio of IRB Infra.&Developer as of 21-Nov-2024 15:49 is 2.94.

What is the 52-week high and low of IRB Infra.&Developer?

The 52-week high of IRB Infra.&Developer is ₹78.05 and the 52-week low is ₹36.02.

What is the TTM revenue of IRB Infra.&Developer?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IRB Infra.&Developer is ₹5,014 ( Cr.) .

About IRB Infrastructure Developers Ltd

Incorporated way back in year 1998, IRB Infrastructure Developers Ltd. has become India’s leading and one of the largest Infrastructure Developing Company in BOT Space, committed to the Roads & Highway sector. Ever since the first ever project completed by the Company, is actions have been guided by the sole objective of delivering value.

Over the years, it has reinforced commitment by delivering large, technically complex projects across India, on difficult terrains and in a tough industry environment. Building seamless connections and facilitating Socio-Economic-Cultural developments, the company is proud to be part of India’s transformation.

Business area of the company

IRB Infrastructure Developers is among India’s leading infrastructure developers specialising in roadways and highways. It enjoys robust in-house integrated project execution capabilities - Engineering, Procurement and Construction (EPC) and Operation and Maintenance (O&M) - across all its business verticals.

Products & services offered by the company

Highway Projects
BOT Projects
HAM Projects
TOT Projects
Airport Divison
Equipment & Technology

Awards

FY 2018-19

ET Edge Maharashtra Achievers’ Award 2018 - Best Infra Person of the Year
Asia's Dream Company to Work for Award 2018
Construction Times Awards 2018 - Best BOT Project of the Year - Solapur-Yedeshi Project
EPC Company of the Year 2018 Award conferred on by the EPC World
EPC World Award 2019 - BEST EPC Company of the Year
National Best Employer Brand in Construction and Engineering Sector at the World HRD Congress

FY 2019-20

Young Turk of the Year- Mr. Virendra D. Mhaiskar, Chairman & Managing Director of IRB, was chosen as the “Young Turk of the Year” at the 6th Edition of CNBC TV18 India Business Leader Awards presented by Honorable Finance Minister, Shri Prana Mukherjee on December 11, 2010 at Mumbai.
FinanceAsia Achievement Award 2017- Best India Deal’ Award by Hong Kong based FinanceAsia, on successfully launching and listing India’s first InvIT IPO and raising Rs 50 billion.
ET Edge Maharashtra Achievers’ Award 2018 was conferred on to Shri Virendra D. Mhaiskar. Chairman & Managing Director, IRB Infrastructure Developers Ltd.,as ‘The Best Infra Person of the Year’ for his visionary leadership as well as valuable contribution to the Infrastructure Sector.
Construction Times Award by Construction Times & Equipment Times, for Solapur Yedeshi Project under category - Best BOT (Road Project of the Year) 2018.
National Best Employer Brand in the construction and engineering Sector at the World HRD Congress
CNBC TV 18 Essar Steel Infrastructure Excellence Award IRB has been awarded the CNBC TV18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai - Pune section of National Highways (NH-4). This award was in recognition of the high-quality work implemented on the development and maintenance of the Mumbai-Pune section of NH-4.

Milestones

1998

IRB Infrastructure Developers Limited incorporated

2004

Upfront payment of Rs 9,180 million to MSRDC for Mumbai - Pune Project

2006

Upfront payment of Rs 5,040 million to NHAI for Bharuch - Surat

2008

Successful launch of IRB Infrastructure Developers Limited IPO
Raised Rs 9,445.7 million

2009

First ever Airport Project in IRB’s portfolio
Greenfield Airport Project in Sindhudurg, Maharashtra.
Project Development Agreement executed with MIDC
Awarded Surat - Dahisar Project, the first mega highway project of the country
Awarded Integrated Road Development (IRD) programme in Kolhapur city
Awarded 3 National Highways Authority of India (NHAI) Projects:
Amritsar - Pathankot,Punjab
Talegaon - Amravati, Maharashtra
Jaipur - Deoli, Rajasthan

2010

Awarded Tumkur Chitradurga BOT Project of NHAI on DBFOT pattern in the state of Karnataka.

2011

Awarded “Ahmedabad Vadodara Project”, the First ever Ultra Mega project of NHAI on BOT basis & DBFOT pattern in the state of Gujarat

2013

Awarded “Goa/ Karnataka Border to Kundapur Project on NH-17 in the state of Karnataka

2014

Acquired M.V.R. Infrastructure and Tollways Pvt. Ltd
Awarded 3 NHAI Projects on DBFOT Pattern
Soalpur - Yedeshi (Maharashtra)
Yedeshi - Aurangabad (Maharashtra)
Kaithal -Rajasthan Border (Rajasthan)

2015

Awarded project of Six Laning of Agra - Etawah section of NH-2
Successfully raised Rs 4,400.06 million by way of QIP

2016

Awarded 3 Nos. of Six Laning Projects of NHAI on DBFOT Pattern in the state of Rajasthan
Udaipur to Gujarat Border section on NH-8
Gulabpura to Chittorgarh section on NH-79
Kishangarh to Gulabpura section of NH-79

2017

Achieved COD for Kaithal - Rajasthan Border four laning highway project.
Successfully Launched India’s first ever Infrastructure Investment Trust Fund and raised Rs 5032 crore
Executed Concession Agreement with NHAI for Kishangarh - Gulabpura Section of NH-79 & NH-79A

2018

Bagged Hapur - Moradabad Bypass Project of 99.867 Kms under BOT space in UP, with Cost Outlay of Rs 3,400 crore
Bagged Padra - Kim project of 23.740 Kms stretch on upcoming Vadodara - Mumbai Expressway in Gujarat under Hybrid Annuity (HAM) with Cost Outlay of Rs 2,043 crore
Achieved COD for Solapur - Yedeshi four laning highway project in Maharashtra

2019

Achieved COD for Yedeshi - Aurangabad four laning highway project in Maharashtra

2020

Bagged Gandeva - Ena project of 27.500 Kms stretch on upcoming Vadodara - Mumbai Expressway in Gujarat, under the Hybrid Annuity Model (HAM) with Cost Outlay of Rs 1,755 crore
Achieved Financial Closure for prestigious Mumbai Pune Expressway Concession through a single largest debt tie-up of Rs 6,610 crore, in the stipulated time, amidst COVID-19 pandemic
Upfront payment of the 1st Installment of Rs 6,500 crore made to the MSRDC out of the total consideration of Rs 8,262 crore
Achieved COD for its Goa/Karnataka Border - Kundapur four laning highway project
Bagged prestigious Mumbai - Pune Expressway and Old Mumbai Pune NH-48 Projects under Toll-Operate-Transfer model.