Summary IRB Infrastructure Developers Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights IRB Infrastructure Developers Ltd (IRB) is a construction and development company. It undertakes the construction of various projects including BOT (build, operate and transfer) road, ...
A director at GMR Airports Infrastructure Ltd bought 4,500,000 shares at 40.936INR and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the l...
The independent financial analyst theScreener just lowered the general evaluation of GMR INFRASTRUCTURE (IN), active in the Heavy Construction industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 11, 2022, the closing price was ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Q3FY20 result highlights Airport traffic recovered in Q3FY20 with Delhi Airport witnessing a 7% yoy growth in passenger (vs 5% decline in H1FY20) and Hyderabad Airport reporting a 9% growth in passenger traffic (vs 4.9% in H1FY20). Note that traffic was subdued in H1 because of Jet Airways shutdown of operations. GMR Infrastructure (GMR) revenues grew by 11% yoy to Rs16.7bn aided by strong non aero revenues growth of 12% and 138% yoy growth in rental revenues. EBITDA for airport business w...
Event GMR Infrastructure (Infra) has entered into an agreement to sell its 49% stake in GMR Airports (GAL) to France’s Groupe ADP at an enterprise value of Rs220bn. The new deal would replace GMR’s earlier deal with Tata-GIC Details GMR has signed a share-purchase agreement with Groupe ADP to sell 49% stake in GAL. GMR Infra holds 92% stake in GAL, with 5.86% of the shares held by PE investors Groupe ADP operates two main airports in France - Paris-Charles de Gaulle and Paris-Orly. The dea...
Q2FY20 result highlights GMR Infrastructure (GMR) revenues grew by 4% yoy to Rs15.3bn led by increase in rental (post Bharti Realty deal for Delhi Airport) and increase in base airport charges at Delhi pursuant to AERA order (for base airport and baggage X- ray charges) offset by muted passenger growth at Delhi and Hyderabad Airport. Airport revenues were up by 14% in Q2FY20 led by 8% yoy growth in non - aero and 138% yoy growth in rental revenues. EBITDA for airport business was Rs5.6bn, +1...
Q1FY20 result highlights GMR Infrastructure (GMR) revenues grew by 14% yoy to Rs15.0bn led by increase in rental (post Bharti Relaty deal for Delhi Airport) and increase in base airport charges at Delhi pursuant to AERA order (for base airport and baggage X- ray charges) offset by decline in passenger growth at Delhi Airport. Airport revenues were up by 16% Airport revenues increased by2%unting changes (trading business not accounted for revenue in FY19). Airport revenues in Q1FY20 led by 6...
Q4FY19 result highlights GMR Infrastructure (GMR) revenues declined by 10.4% yoy to Rs15.3bn as (trading is netted off revenue in Q4FY19. Airport revenues were up by 12% Airport revenues increased by2%unting changes (trading business not accounted for revenue in FY19). Airport revenues in Q4FY19 led by 17% growth in aero revenues and 11% growth in non-aero revenues. FY19 airport revenues declined by 3% owing to sharp cut in DIAL Tariff in Q2FY18 post Supreme Court directed to implement tar...
Event GMR has monetised a significant minority stake in GMR Airports (GAL) to a group of investors for Rs80bn. Details GMR has signed a binding agreement with Tata Group, GIC Singapore and SSG Capital Management, whereby these investors will bring in Rs80bn through a combination of Rs70bn stake purchase from GMR and Rs10bn primary infusion in GAL. As part of the transaction, GMR is also buying out the 5.86% held by existing PE investors in GAL (cash outflow of ~Rs10.5bn), giving them an exi...
Q3FY19 result highlights GMR Infrastructure (GMR) reported steeper than estimated loss led by provision for cost escalation of Rs1bn in the EPC business and higher interest costs. Performance of the airports business continued to remain strong. Q2FY19 net loss came in at Rs6.7bn, higher than our estimate of net loss of Rs3.5bn. Consolidated net revenue (net of revenue share) declined 11%yoy to Rs15.1bn. EBITDA declined 14.2%yoy to Rs4.1bn, below estimate of Rs5.2bn, mainly due to Rs1bn prov...
Q2FY19 result highlights GMR Infrastructure (GMR) reported a largely in line performance in Q2FY19 with robust airports segment performance making up for lower than expected energy segment performance. Q2FY19 net loss came in at Rs2.6bn, lower than our estimate of net loss of Rs2.9bn. Consolidated net revenue (net of revenue share) remained flat yoy at Rs14.7bn and was above estimate of Rs12.9bn. EBITDA grew 20.3%yoy to Rs5.3bn, above estimate of Rs4.2bn, led mainly strong performance in DI...
Event GMR Airports Limited (GAL) has settled disputes with PE investors in the airports business. Details SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others had invested Rs14.8bn in GAL in FY11 and FY12 through subscription of Compulsorily Convertible Preference Shares (CCCPS). GAL is the holding company for GMR’s investments in Delhi, Hyderabad and the upcoming Goa International airports, besides the company holding 17% stake in Delhi Duty Free Services (DDF...
Q1FY19 result highlights GMR Infrastructure’s (GMR) Q1FY19 net loss came in at Rs2.9bn, lower than our estimated net loss of Rs3.5bn, due to lower interest cost and tax credit and also due to higher revenue and stronger margins in the Indonesian mining business (PT GEMS, 30% stake). Consolidated net revenue declined 32.1%yoy to Rs13.2bn, below estimate of Rs17.5bn. The yoy decline in revenue is led by sharp cut in aero tariff in DIAL and also due change in accounting for power trading busine...
Q4FY18 result highlights GMR Infrastructure’s (GMR) Q4FY18 adjusted net loss came in at Rs799m, lower than our estimated net loss of Rs5.3bn, led by higher profit from Kamalanga and Warora power plants on account of additional revenue from change in law and coal cost pass through and also due to higher revenue and stronger margins in the Indonesian mining business (PT GEMS, 30% stake). Consolidated revenue declined 12.7%yoy to Rs17.1bn (largely in line), EBITDA declined 55.7%yoy to Rs4.1bn (...
GMR’s airports business is on an upswing, as we expect strong traffic growth at the group’s operational assets, Delhi, Hyderabad and Mactan Cebu (Philippines) airports. Growth in passenger traffic will further propel a pick-up in non-aero revenue streams of the airports business. Meanwhile, operating power assets of Warora and Kamalanga are also on the verge of a turnaround, even as we await clarity on the resolution of SDR of Chhattisgarh and Rajahmundhry assets. Also, GMR has been able to mone...
Q2FY18 result highlights GMR Infrastructure’s (GMR) Q2FY18 net loss came in at Rs4.2bn, lower than our estimate of net loss of Rs4.6bn, led largely by creation of deferred tax asset in DIAL and also due to stronger margins in the Indonesian mining business (PT GEMS, 30% stake). Consolidated EBITDA declined 43.9%yoy to Rs4.4bn (est: Rs3.5bn), and EBITDA margin declined to 30.1% from 52.5% in Q2FY17 (est: 18.6%) led by sharp cut in aero tariff/revenue in DIAL and notional expenses in DIAL (Ind...
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