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Swing Capital

Gayatri Projects Ltd

NSE: GAYAPROJ BSE: 532767Infra

Gayatri Projects Ltd (GAYAPROJ) is a Infra company listed on NSE: GAYAPROJ | BSE: 532767. With a market cap of ₹796 Cr and ROCE of 6.9%, it operates in the Indian Infra sector.

₹17.1
52W: ₹6.35 — ₹20.7
PE 8.52 · Book ₹30.9 · -45% vs book
Market Cap₹796 Cr
Stock P/E8.52Price to Earnings
ROCE6.9%Return on Capital
ROE0%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Stock is trading at 0.56 times its book value
  • +Company is expected to give good quarter

Weaknesses

  • −The company has delivered a poor sales growth of -26.3% over past five years.
  • −Promoter holding is low: 23.1%
  • −Contingent liabilities of Rs.4,103 Cr.
  • −Company might be capitalizing the interest cost
  • −Earnings include an other income of Rs.2,118 Cr.
  • −Company has high debtors of 207 days.
  • −Working capital days have increased from -996 days to 262 days

Shareholding Pattern

Promoters23.13%
FIIs18%
DIIs1.11%
Public57.76%
CategorySep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Apr 2026
Promoters3.94%3.94%3.94%3.94%3.94%3.94%3.94%23.13%▲19.2
FIIs3.92%3.92%1.91%▼2.01.91%1.91%1.91%1.91%18%▲16.1
DIIs1.07%1.07%2.75%▲1.72.75%2.75%2.75%2.75%1.11%▼1.6
Public91.06%91.08%▲0.091.39%▲0.391.39%91.39%91.4%▲0.091.41%▲0.057.76%▼33.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales130164119103911377773506191
Expenses11216012480821626773524173
Operating Profit184-4238-25100-1818
OPM %14%2%-3%22%9%-18%12%0%-4%10%
Net Profit-14-7-16-18-2-32-3-72,167-110
EPS ₹-0.72-0.39-0.88-0.98-0.11-1.71-0.15-0.36115.75-5.89

AI Insights

Revenue Trend

Mar 2026 revenue at ₹847Cr, up 88.2% YoY. OPM at 1%.

Debt Position

Borrowings at ₹537Cr. Debt-to-equity ratio: 0.99x. Moderate leverage.

Capex Cycle

CWIP at ₹6Cr (8% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.11% (+0.04pp change). FIIs: 18% (+14.08pp change). Promoters hold 23.13%.

Margin & Efficiency

ROCE declining from 8% (Mar 2015) to 7% (Mar 2026). Working capital days: 262.

Valuation

PE 8.52x with 6.9% ROCE. Price is -45% above book value of ₹30.9. Dividend yield: 0%.

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