GMR Power and Urban Infra Ltd.

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gmrpowerurbaninfra.com/BSE: 543490NSE: GMRP&UI

Market Cap₹ 7,349 Cr.

Current Price

High / Low₹ 137 / 87

Stock P/E13.0

Book Value₹ 23

Price to Book3.88

Dividend Yield0.00 %

ROCE20.1 %

ROE49.1 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Power: 73.7% • Smart Meter Infrastructure: 19.3% • Roads: 3.0%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 22.7%
Company has delivered good sales growth of 21.8% CAGR over last 5 years
Operating margins have improved to 21.9% from 14.3%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.58x)
Institutional investors have been accumulating - FII+DII up 14.8pp
Company generates healthy free cash flow

CONS

Company has a high debt-to-equity of 6.38x
A large part of profit comes from other income (53.3% of PBT)
Promoter holding has decreased over last 2 years: -13.5pp
Interest coverage is weak at 1.5x - earnings barely cover interest
Working capital days have increased from 13 to 91 days
Contingent liabilities are large at 153.2% of net worth

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

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	3048.40	1282.62	11068.60	1527.23	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	GMRP&UI	94.09	12.97	7348.59	0.00	-353.80	-4827.58	17051.80	934.41	20.14	26.14

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	1,124	627	1,103	1,634	1,612	1,384	1,611	1,737	1,648	1,810	1,869	2,004	1,705
	934	505	807	1,190	1,094	968	1,266	1,357	1,248	1,447	1,500	1,545	1,733
Operating Profit	191	122	296	444	518	416	346	380	401	363	369	459	-27
OPM %	16.96%	19.50%	26.86%	27.16%	32.12%	30.08%	21.45%	21.87%	24.30%	20.08%	19.73%	22.89%	-1.60%
	-81	101	327	467	1,516	332	154	419	185	1,135	9	64	44
Interest	279	272	405	522	448	365	364	394	441	446	379	392	318
Depreciation	39	40	100	112	173	140	139	148	160	164	166	176	163
Profit before Tax	-208	-89	118	277	1,413	244	-4	257	-15	888	-167	-46	9
Tax %	-1.26%	-22.48%	1.38%	3.38%	3.16%	-4.27%	-327.39%	-4.12%	-136.65%	-3.34%	-52.63%	-253.52%	498.76%
Net Profit	0	0	0	0	1,362	250	-1,084	490	-72	895	-160	-114	-35
	-3.13	-1.74	0.75	2.69	20.61	3.63	-1.23	2.41	-0.50	12.43	-2.35	-1.47	-0.53

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,733	4,102	5,516	4,489	6,344	7,332	7,389
	2,402	3,606	5,089	3,420	4,677	5,728	6,225
Operating Profit	331	495	427	1,068	1,667	1,604	1,164
OPM %	12.11%	12.08%	7.74%	23.80%	26.28%	21.88%	15.75%
	-552	195	1,595	801	2,414	1,380	1,251
Interest	1,530	1,354	1,350	1,477	1,571	1,659	1,536
Depreciation	123	128	149	286	600	666	669
Profit before Tax	-2,161	-546	1,264	-49	1,776	781	684
Tax %	-1.11%	-19.33%	7.34%	-69.27%	2.16%	24.90%	31.96%
Net Profit	-2,184	-652	1,171	-82	1,738	587	465
EPS	-34.09	-10.73	19.60	-1.71	19.83	7.69	—
Dividend Payout %	—	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 22%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 41%
1 Year:: -18%

RETURN ON EQUITY

10 Years:: —
5 Years:: 10%
3 Years:: 16%
Last Year:: 49%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	302	302	302	357	391
Minority Interest	-66	-68	-120	-65	131	205
	-2,057	-2,466	-2,923	-3,219	229	1,413
	11,644	10,428	8,431	13,446	10,577	10,773
Trade Payables	1,855	2,449	2,604	2,596	1,155	1,288
	4,032	3,423	3,505	6,408	4,533	2,979
Total Liabilities	15,409	14,068	11,798	19,467	16,983	17,048
	2,611	2,486	2,362	10,598	8,002	7,515
Capital Work in Progress	0	0	0	357	505	454
	5,506	4,978	2,111	650	365	1,190
	81	87	50	212	395	499
	0	0	0	1,541	1,705	1,180
Cash & Bank	268	540	1,104	682	986	1,174
	6,942	5,977	6,171	5,427	5,025	5,036
Total Assets	15,409	14,068	11,798	19,467	16,983	17,048

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	591	1,306	1,324	1,690	2,833	1,260
Cash from Investing	692	1,267	3,094	-903	-159	-809
Cash from Financing	-1,603	-2,213	-3,840	-1,324	-2,417	-583
	-323	268	484	-536	256	-132

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.83	50.54	50.54	50.54	50.54	50.56	50.56	46.28	46.28
	1.52	3.41	3.95	4.99	4.76	3.89	3.76	3.43	16.00
	2.70	2.34	2.25	2.29	1.96	1.75	1.77	5.22	5.47
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	35.95	43.72	43.27	42.17	42.72	43.80	43.92	45.08	32.23

Documents

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

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Copy of Newspaper Publication post dispatch of Notice and Annual report in respect of 7th AGM of the Company

2026-08-27

Shareholders meeting

2026-08-27 - Gmr Power And Urban Infra Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 21, 2026

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Gmr Power And Urban Infra Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

General Updates

2026-08-14 - Gmr Power And Urban Infra Limited has informed the Exchange about General Updates

2026-08-14

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

2026-08-14 - Gmr Power And Urban Infra Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-14

Monitoring Agency Report

2026-08-14 - Monitoring Agency Report for the quarter ended on June 30, 2026

2026-08-14

Amendment to AOA/MOA

2026-08-14 - Gmr Power And Urban Infra Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-14

Change in Auditors

2026-08-14 - Gmr Power And Urban Infra Limited has informed the Exchange regarding Change in Auditors of the company.

2026-08-14

Outcome of Board Meeting

2026-08-14 - Gmr Power And Urban Infra Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

Recent coverage and analyst commentary for GMRP&UI

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