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ICICI Direct Bullish On This Construction Sector Stock, Sees Potential Return Of 33% In 1 Year
ICICI Direct has assigned buy call to the stock of G R Infraprojects Ltd with a target price of Rs 1620. The analyst has given a target time of 1 year when the stock will achieve this target price of Rs 1620. The stock is showing a potential return of 33% in 1 year. The company has delivered 26.6% revenue CAGR during FY16-22, well-complemented by 33.6% EBITDA CAGR and 39% PAT CAGR.
1. GR Infraproject Stock Outlook
The current market price of GR Infraprojects is Rs 1214 apiece with an intraday surge of 0.14%. The stock 52-week high is quoted at Rs 2,277 apiece and 52-week low is Rs 1074 apiece, respectively. The company has a market capitalisation of Rs 11,739 crore.
2. GR Infraprojects Ltd Key Triggers For Future Performance
GRIL is likely to be one of the major recipients of thriving roads, railways and power transmission segments. Healthy order inflows to aid its order book position.
Strong order book position, receipt of appointed date in most of its projects, and execution pick-up to translate into 12.4% topline CAGR over FY22-24E.
Current order mix with built-in raw material price variation clauses in most of its contracts provides margin sustainability at ~16%.
3. GR Infraprojects Ltd Q1 FY23 Results
GRIL reported robust set of numbers during Q1 FY23. Standalone revenue improved 16.1% YoY to ₹ 2,476.7 crore. On QoQ basis, the company has reported 9.2% growth. Its revenue included ~₹ 132 crore bonus received for early completion of the project.
EBITDA margin stood at 19.6% (up 345 bps YoY) with better project mix and receipt of early completion bonus. Effectively, EBITDA at ₹ 486.4 crore, was up 40.8% YoY.
Excluding early completion bonus, margin was at 15.2%. PAT stood at ₹ 321.1 crore (up 57.7% YoY).
4. GR Infraprojects Ltd About
GR Infraprojects Limited is one of the fastest growing organizations in the Indian infrastructure sector. It is engaged in Manufacturing activities for bitumen processing, thermoplastic road-marking paint, road signage, and electronic equipment.
It is also involved in Engineering Procurement and Construction (EPC) and Project Management services for Roads & Highways, Bridges, Airport Runway, Railways, Metros, Power Transmission and Tunneling.
Precisely, GR Infraprojects Ltd (GRIL) is a leading player in the roads and highways sector having overall order book size of ₹ 17,005.6 crore.
Disclaimer
The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
