GMR Power & Urban Infra Ltd

NSE: GMRP&UI BSE: 543490Energy

GMR Power and Urban Infra Limited (GPUIL), a subsidiary of GEPL holds expertise in the sectors of Energy, Urban Infrastructure, and Transportation.[1]

₹114

52W: ₹89 — ₹137

PE 0 · Book ₹28 · +307% vs book

Market Cap₹8,896 Cr

Stock P/E—Price to Earnings

ROCE7.56%Return on Capital

ROE0.89%Return on Equity

Div. Yield0%Face Value ₹5

Strengths

+Company has reduced debt.
+Company has delivered good profit growth of 93.0% CAGR over last 5 years

Weaknesses

−Stock is trading at 4.01 times its book value
−Though the company is reporting repeated profits, it is not paying out dividend
−Company has low interest coverage ratio.
−Promoter holding has decreased over last quarter: -4.28%
−Company has a low return on equity of -9.98% over last 3 years.
−Contingent liabilities of Rs.13,342 Cr.
−Promoters have pledged 75.3% of their holding.
−Earnings include an other income of Rs.176 Cr.
−Debtor days have increased from 45.5 to 108 days.
−Working capital days have increased from -194 days to 108 days

Shareholding Pattern

Promoters46.28%

FIIs3.43%

DIIs5.22%

Public45.09%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	59.83%	50.55%▼9.3	50.55%	50.55%	50.55%	50.56%▲0.0	50.56%	46.28%▼4.3
FIIs	1.52%	3.41%▲1.9	3.95%▲0.5	4.99%▲1.0	4.76%▼0.2	3.89%▼0.9	3.76%▼0.1	3.43%▼0.3
DIIs	2.7%	2.35%▼0.4	2.25%▼0.1	2.29%▲0.0	1.96%▼0.3	1.77%▼0.2	1.77%	5.22%▲3.4
Public	35.94%	43.7%▲7.8	43.26%▼0.4	42.16%▼1.1	42.7%▲0.5	43.77%▲1.1	43.91%▲0.1	45.09%▲1.2

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	202.44	168.72	150.16	130.5	145.05	100.93	104.41	94.3	81.21	100.81
Expenses	112.01	83.49	63.62	55.36	54.12	47.16	45.36	32.29	35.72	37.73
Operating Profit	90.43	85.23	86.54	75.14	90.93	53.77	59.05	62.01	45.49	63.08
OPM %	44.67%	50.52%	57.63%	57.58%	62.69%	53.27%	56.56%	65.76%	56.02%	62.57%
Net Profit	-6.03	308.26	369.1	-204.19	782.2	118.53	50.06	24.17	-3.41	8.2
EPS ₹	-0.1	5.11	6.12	-3.38	10.94	1.66	0.7	0.34	-0.05	0.11

AI Insights

Revenue Trend

TTM revenue at ₹381Cr, down 20.8% YoY. OPM at 60%.

Debt Position

Borrowings at ₹2,236Cr. Debt-to-equity ratio: 1.36x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹1Cr (33% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 5.22% (+2.48pp change). FIIs: 3.43% (-17.43pp change). Promoters hold 46.28%.

Margin & Efficiency

ROCE improving from 0% (Mar 2020) to 8% (Mar 2025). Working capital days: 108.