G R Infraprojects (GRINFRA) Q4 19/20 earnings summary

Executive summary

• FY20 revenue from operations rose 21.77% standalone to ₹6,02,775.74 lakh; EBITDA increased 24.21% to ₹1,33,504.49 lakh and PAT rose 15.62% to ₹68,876.81 lakh.

• Order book stood at ₹15,86,058.40 lakh at 31 March 2020, split across EPC roads (62.5%), HAM roads (25.0%) and railways (12.5%).

• Phagwara-Rupnagar and Porbandar-Dwarka projects were completed 38 days and 299 days ahead of schedule, respectively.

Financial highlights

• Consolidated revenue from operations grew 20.64% to ₹6,37,269.94 lakh; consolidated EBITDA reached ₹1,58,457.8 lakh, up from ₹1,31,404.18 lakh.

• Consolidated PBT increased 9.52% to ₹1,10,242.88 lakh; PAT rose 5.75% to ₹76,199.90 lakh.

• Standalone basic and diluted EPS was ₹71.03 versus ₹61.44; consolidated EPS was ₹78.59 versus ₹74.31.

Outlook and guidance

• Plans emphasized selective, disciplined bidding that prioritizes value over volume, geographic diversification, order-book growth and expansion into new markets.

• Management cited firm orders and a three-year execution plan in assessing pandemic effects, while describing the eventual COVID-19 impact as uncertain and subject to ongoing monitoring.