Gayatri Projects Ltd.

•

gayatri.co.inBSE: 532767NSE: GAYAPROJ

Market Cap₹ 1,033 Cr.

Current Price

High / Low₹ 26 / 8

Stock P/E0.5

Book Value₹ 17

Price to Book-0.08

Dividend Yield0.00 %

ROCE-2.1 %

ROE0.0 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 13094.7% YoY, showing strong momentum
Operating margins have improved to 0.2% from -11.2%
Working capital cycle has improved - days down from -1261 to -1922
Institutional investors have been accumulating - FII+DII up 14.0pp

CONS

Net worth is negative - accumulated losses have eroded equity
Company is loss-making at the operating / net level
Company has a low return on capital employed of -16.2%
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 0.0% over last 3 years
Interest coverage is weak at -2.0x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3965.00	32.88	545530.90	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	209.50	48.56	43681.17	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1417.50	21.30	24207.01	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.67	24.90	23757.43	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1296.30	37.02	22268.82	0.23	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	281.90	20.21	15843.97	1.77	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	975.45	26.32	11344.44	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.65	21.31	11159.22	1.60	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	AFCONS	295.00	74.98	10849.65	0.68	30.30	-77.95	2671.00	-20.75	12.88	9.42
10.	KEC	406.15	19.53	10811.71	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	WELENT	765.35	34.66	10593.50	0.39	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	GAYAPROJ	22.24	0.50	1032.60	0.00	371.17	63765.52	2287.74	2887.39	6.80	17.72

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	185	200	130	164	119	103	91	137	77	73	506	191	2,288
	169	192	112	160	124	80	82	162	67	73	524	173	1,954
Operating Profit	16	8	18	4	-4	23	8	-25	10	0	-18	18	334
OPM %	8.74%	4.09%	13.90%	2.50%	-3.48%	22.25%	9.35%	-17.97%	12.44%	0.36%	-3.50%	9.63%	14.58%
	-40	9	-18	0	1	-17	3	5	3	6	2,218	-109	471
Interest	-1	1	2	1	2	13	3	2	6	5	5	2	22
Depreciation	14	12	12	11	11	11	11	10	9	8	7	5	47
Profit before Tax	-36	4	-14	-7	-16	-18	-2	-32	-3	-7	2,188	-98	368
Tax %	-0.00%	0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	0.99%	-12.44%	0.00%
Net Profit	-36	4	-14	-7	-16	-18	-2	-32	-3	-7	2,167	-110	368
	-1.94	0.32	-0.72	-0.39	-0.88	-0.98	-0.11	-1.71	-0.15	-0.36	115.75	-5.89	2.34

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,812	2,115	2,912	3,463	3,427	3,901	3,102	1,017	680	450	3,058
	1,552	1,792	2,425	2,918	3,001	3,456	3,480	1,675	633	449	2,724
Operating Profit	260	323	487	545	426	444	-378	-658	47	1	335
OPM %	14.37%	15.29%	16.72%	15.74%	12.44%	11.39%	-12.18%	-64.65%	6.85%	0.19%	10.94%
	62	66	46	40	-406	43	-110	-385	-28	-4	2,585
Interest	215	252	296	283	319	352	365	327	22	23	33
Depreciation	37	43	55	66	91	85	76	57	49	43	67
Profit before Tax	70	94	183	236	-390	51	-929	-1,426	-53	-69	2,451
Tax %	16.75%	25.14%	-3.04%	10.58%	1.45%	-10.47%	0.28%	-0.00%	-0.00%	-0.00%	1.38%
Net Profit	58	70	188	211	-385	57	-926	-1,426	-53	-69	2,418
EPS	0.00	0.00	0.00	0.00	0.00	3.02	-49.48	-76.18	-2.83	-3.67	—
Dividend Payout %	12.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -12%
5 Years:: -33%
3 Years:: -47%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -17%
5 Years:: -16%
3 Years:: 55%
1 Year:: 153%

RETURN ON EQUITY

10 Years:: -15%
5 Years:: -33%
3 Years:: 0%
Last Year:: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	35	35	37	37	37	37	37	37	37	37
	811	706	1,086	1,292	905	963	39	-1,387	-1,437	-1,510
	2,547	2,982	2,978	3,367	3,212	2,874	3,268	3,790	3,865	3,777
Trade Payables	419	661	804	888	1,089	1,436	985	446	441	451
	75	94	81	288	337	337	549	690	647	637
Total Liabilities	3,887	4,478	4,986	5,873	5,581	5,648	4,878	3,576	3,554	3,392
	227	309	335	376	394	330	286	209	160	117
Capital Work in Progress	0	24	0	0	11	23	3	3	3	5
	1,182	1,056	1,017	1,009	559	562	565	563	565	566
	155	360	293	357	624	815	634	140	148	139
	0	0	0	0	0	0	0	0	895	876
Cash & Bank	180	197	243	327	329	289	33	30	41	58
	2,143	2,532	3,099	3,803	3,663	3,629	3,358	2,631	1,743	1,631
Total Assets	3,887	4,478	4,986	5,873	5,581	5,648	4,878	3,576	3,554	3,392

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	33	296	276	542	386	229	-695	-863	-112	85
Cash from Investing	-49	-209	-42	-90	-97	10	211	46	21	1
Cash from Financing	69	-65	-176	-357	-298	-273	426	819	102	-69
	35	-17	19	70	-8	-35	-58	1	11	17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	16.36	3.97	10.05	11.26	-20.54	3.02	-49.48	-76.18	-2.83	-3.67
Book Value (₹)	238.65	41.81	59.99	71.03	50.34	53.44	4.06	-72.09	-74.75	-78.68
Dividend per Share (₹)	2.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	5.39	6.41	12.97	14.78	-15.69	7.54	-45.41	-73.13	-0.21	-1.37
PROFITABILITY
Operating Margin %	17.80%	19.15%	18.29%	16.88%	13.58%	12.50%	-11.19%	-58.36%	6.85%	0.19%
Net Margin %	3.20%	3.33%	6.46%	6.09%	-11.22%	1.45%	-29.86%	-140.20%	-7.80%	-15.29%
ROE %	7.59%	8.88%	20.18%	17.19%	-33.85%	5.82%	-172.10%	0.00%	0.00%	0.00%
ROCE %	10.91%	12.45%	16.30%	16.55%	-2.36%	14.00%	-20.10%	-45.21%	-1.38%	-2.09%
	1.57%	1.68%	3.97%	3.88%	-6.72%	1.01%	-17.60%	-33.74%	-1.49%	-1.98%
EFFICIENCY
Debtor Days	120	119	118	137	146	131	158	357	462	719
Inventory Days	40	44	41	34	52	67	85	139	77	116
Payable Days	283	316	285	348	363	339	342	306	808	2101
	-123	-153	-126	-177	-165	-141	-98	190	-269	-1266
FINANCIAL HEALTH
Debt to Equity (x)	2.27x	2.78x	1.73x	1.41x	1.99x	1.94x	34.06x	-2.63x	-2.62x	-2.46x
Interest Coverage (x)	1.32x	1.37x	1.62x	1.83x	-0.22x	1.15x	-1.55x	-3.37x	-1.38x	-2.05x
	1.39x	1.42x	1.63x	1.60x	1.41x	1.15x	0.79x	0.50x	0.51x	0.50x
GROWTH
Revenue Growth %	13.18%	16.73%	37.68%	18.91%	-1.03%	13.81%	-20.46%	-67.21%	-33.19%	-33.79%
Operating Profit Growth %	23.86%	25.58%	31.52%	9.72%	-20.38%	4.78%	-171.20%	-71.00%	117.49%	-75.86%
Net Profit Growth %	163.07%	21.39%	167.08%	12.06%	-282.46%	114.71%	-1737.18%	-53.96%	96.28%	-29.76%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	96.28%	-29.76%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-0.11x	-0.08x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	36.46x	147.11x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3.94	3.94	3.94	3.94	3.94	3.94	3.94	23.56
	3.92	3.92	1.91	1.91	1.91	1.91	1.91	17.99
	1.07	1.07	2.75	2.75	2.75	2.75	2.75	0.68
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	91.07	91.07	91.39	91.39	91.39	91.39	91.39	57.77

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-14

Monitoring Agency Report

2026-08-14 - Pursuant to Reg. 32(6) of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, and Reg. 162A(4) of SEBI (Issue of Capital and Disclosure Requirement) Regulations,2018, please find enclosed the report issued by Crisil Ratings Limited, the Monitoring Agency for the quarter ended 30th June, 2026 in respect of utilization of proceeds of Preferential issuemade by the company.

2026-08-13

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-13 - Gayatri Projects Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-12

Outcome of Board Meeting

2026-08-12 - Gayatri Projects Limited has submitted to the Exchange, the Unaudited Standalone and Consolidated financial results for the quarter ended June 30, 2026, together with the Limited Review Report.

2026-07-07

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - Gayatri Projects Limited has informed the Exchange about Certificate under Reg. 74(5) of the SEBI (Depositories and Participants) Regulations, 2018

2026-05-14

Outcome of Board Meeting

2026-05-14 - Gayatri Projects Limited has submitted to the Exchange, the audited Standalone and Consolidated financial results for the quarter and year ended March 31, 2026.

News

Recent coverage and analyst commentary for GAYAPROJ

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Free 5nance Account

Name

3965.00

32.88

545530.90

0.96

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

209.50

48.56

43681.17

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1417.50

21.30

24207.01

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.67

24.90

23757.43

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1296.30

37.02

22268.82

0.23

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

281.90

20.21

15843.97

1.77

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

975.45

26.32

11344.44

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

IRCON

118.65

21.31

11159.22

1.60

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

295.00

74.98

10849.65

0.68

30.30

-77.95

2671.00

-20.75

12.88

9.42

KEC

406.15

19.53

10811.71

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

WELENT

765.35

34.66

10593.50

0.39

56.36

-44.29

773.72

-8.44

16.44

19.49

GAYAPROJ

22.24

0.50

1032.60

0.00

371.17

63765.52

2287.74

2887.39

6.80

17.72

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

185

200

130

164

119

103

137

506

191

2,288

169

192

112

160

124

162

524

173

1,954

Operating Profit

-4

-25

-18

334

OPM %

8.74%

4.09%

13.90%

2.50%

-3.48%

22.25%

9.35%

-17.97%

12.44%

0.36%

-3.50%

9.63%

14.58%

-40

-18

-17

2,218

-109

471

Interest

-1

Depreciation

Profit before Tax

-36

-14

-7

-16

-18

-2

-32

-3

-7

2,188

-98

368

Tax %

-0.00%

0.00%

-0.00%

0.99%

-12.44%

0.00%

Net Profit

-36

-14

-7

-16

-18

-2

-32

-3

-7

2,167

-110

368

-1.94

0.32

-0.72

-0.39

-0.88

-0.98

-0.11

-1.71

-0.15

-0.36

115.75

-5.89

2.34

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

1,812

2,115

2,912

3,463

3,427

3,901

3,102

1,017

680

450

3,058

1,552

1,792

2,425

2,918

3,001

3,456

3,480

1,675

633

449

2,724

Operating Profit

260

323

487

545

426

444

-378

-658

335

OPM %

14.37%

15.29%

16.72%

15.74%

12.44%

11.39%

-12.18%

-64.65%

6.85%

0.19%

10.94%

-406

-110

-385

-28

-4

2,585

Interest

215

252

296

283

319

352

365

327

Depreciation

Profit before Tax

183

236

-390

-929

-1,426

-53

-69

2,451

Tax %

16.75%

25.14%

-3.04%

10.58%

1.45%

-10.47%

0.28%

-0.00%

1.38%

Net Profit

188

211

-385

-926

-1,426

-53

-69

2,418

EPS

0.00

3.02

-49.48

-76.18

-2.83

-3.67

—

Dividend Payout %

12.22%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

811

706

1,086

1,292

905

963

-1,387

-1,437

-1,510

2,547

2,982

2,978

3,367

3,212

2,874

3,268

3,790

3,865

3,777

Trade Payables

419

661

804

888

1,089

1,436

985

446

441

451

288

337

549

690

647

637

Total Liabilities

3,887

4,478

4,986

5,873

5,581

5,648

4,878

3,576

3,554

3,392

227

309

335

376

394

330

286

209

160

117

Capital Work in Progress

1,182

1,056

1,017

1,009

559

562

565

563

565

566

155

360

293

357

624

815

634

140

148

139

895

876

Cash & Bank

180

197

243

327

329

289

2,143

2,532

3,099

3,803

3,663

3,629

3,358

2,631

1,743

1,631

Total Assets

3,887

4,478

4,986

5,873

5,581

5,648

4,878

3,576

3,554

3,392

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

296

276

542

386

229

-695

-863

-112

Cash from Investing

-49

-209

-42

-90

-97

211

Cash from Financing

-65

-176

-357

-298

-273

426

819

102

-69

-17

-8

-35

-58

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

16.36

3.97

10.05

11.26

-20.54

3.02

-49.48

-76.18

-2.83

-3.67

Book Value (₹)

238.65

41.81

59.99

71.03

50.34

53.44

4.06

-72.09

-74.75

-78.68

Dividend per Share (₹)

2.00

0.00

Cash EPS (₹)

5.39

6.41

12.97

14.78

-15.69

7.54

-45.41

-73.13

-0.21

-1.37

PROFITABILITY

Operating Margin %

17.80%

19.15%

18.29%

16.88%

13.58%

12.50%

-11.19%

-58.36%

6.85%

0.19%

Net Margin %

3.20%

3.33%

6.46%

6.09%

-11.22%

1.45%

-29.86%

-140.20%

-7.80%

-15.29%

ROE %

7.59%

8.88%

20.18%

17.19%

-33.85%

5.82%

-172.10%

0.00%

ROCE %

10.91%

12.45%

16.30%

16.55%

-2.36%

14.00%

-20.10%

-45.21%

-1.38%

-2.09%

1.57%

1.68%

3.97%

3.88%

-6.72%

1.01%

-17.60%

-33.74%

-1.49%

-1.98%

EFFICIENCY

Debtor Days

120

119

118

137

146

131

158

357

462

719

Inventory Days

139

116

Payable Days

283

316

285

348

363

339

342

306

808

2101

-123

-153

-126

-177

-165

-141

-98

190

-269

-1266

FINANCIAL HEALTH

Debt to Equity (x)

2.27x

2.78x

1.73x

1.41x

1.99x

1.94x

34.06x

-2.63x

-2.62x

-2.46x

Interest Coverage (x)

1.32x

1.37x

1.62x

1.83x

-0.22x

1.15x

-1.55x

-3.37x

-1.38x

-2.05x

1.39x

1.42x

1.63x

1.60x

1.41x

1.15x

0.79x

0.50x

0.51x

0.50x

GROWTH

Revenue Growth %

13.18%

16.73%

37.68%

18.91%

-1.03%

13.81%

-20.46%

-67.21%

-33.19%

-33.79%

Operating Profit Growth %

23.86%

25.58%

31.52%

9.72%

-20.38%

4.78%

-171.20%

-71.00%

117.49%

-75.86%

Net Profit Growth %

163.07%

21.39%

167.08%

12.06%

-282.46%

114.71%

-1737.18%

-53.96%

96.28%

-29.76%

0.00%

96.28%

-29.76%

VALUATION

P/E (x)

0.00x

P/B (x)

0.00x

-0.11x

-0.08x

Dividend Yield %

0.00%

0.00x

36.46x

147.11x

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

3.94

23.56

3.92

1.91

17.99

1.07

2.75

0.68

Government

0.00

91.07

91.39

57.77

Gayatri Projects Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

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Cash Flows

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Gayatri Projects Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI