IRB Infrastructure Developers Ltd
NSE: IRB BSE: 532947Infra
IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.[1]
₹20.1
52W: ₹18.5 — ₹27.2
PE 27.1 · Book ₹12.6 · +60% vs bookMarket Cap₹24,277 Cr
Stock P/E27.1Price to Earnings
ROCE7.21%Return on Capital
ROE8.13%Return on Equity
Div. Yield0.75%Face Value ₹1
Strengths
- +Company has delivered good profit growth of 28.6% CAGR over last 5 years
- +Company has been maintaining a healthy dividend payout of 19.8%
- +Debtor days have improved from 42.4 to 20.1 days.
Weaknesses
- −Company has a low return on equity of 7.02% over last 3 years.
- −Promoter holding has decreased over last 3 years: -3.41%
Shareholding Pattern
Promoters30.79%
FIIs43.84%
DIIs10.02%
Public15.33%
| Category | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Apr 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 30.42% | 30.42% | 30.42% | 30.42% | 30.42% | 30.42% | 30.79%▲0.4 | 30.79% |
| FIIs | 45.99% | 45.07%▼0.9 | 44.31%▼0.8 | 43.61%▼0.7 | 43.4%▼0.2 | 43.32%▼0.1 | 43.84%▲0.5 | 43.84% |
| DIIs | 8.1% | 8.57%▲0.5 | 9.34%▲0.8 | 10.21%▲0.9 | 9.58%▼0.6 | 9.97%▲0.4 | 10.02%▲0.0 | 10.02% |
| Public | 15.49% | 15.92%▲0.4 | 15.92% | 15.74%▼0.2 | 16.59%▲0.8 | 16.29%▼0.3 | 15.32%▼1.0 | 15.33%▲0.0 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,114 | 1,340 | 1,426 | 1,254 | 994 | 1,349 | 1,466 | 1,294 | 1,065 | 1,097 |
| Expenses | 963 | 1,219 | 1,186 | 1,161 | 920 | 1,037 | 1,097 | 1,027 | 723 | 679 |
| Operating Profit | 151 | 121 | 240 | 93 | 74 | 313 | 369 | 267 | 341 | 418 |
| OPM % | 14% | 9% | 17% | 7% | 7% | 23% | 25% | 21% | 32% | 38% |
| Net Profit | 130 | 209 | 314 | 142 | 160 | 5,034 | 278 | 140 | 188 | 279 |
| EPS ₹ | 0.11 | 0.17 | 0.26 | 0.12 | 0.13 | 4.17 | 0.23 | 0.12 | 0.16 | 0.23 |
AI Insights
Revenue Trend
TTM revenue at ₹4,922Cr, down 2.8% YoY. OPM at 28%.
Debt Position
Borrowings at ₹11,841Cr. Debt-to-equity ratio: 0.81x. Moderate leverage.
Institutional Flow
DIIs: 10.02% (+2.64pp change). FIIs: 43.84% (-3.45pp change). Promoters hold 30.79%.
Margin & Efficiency
ROCE declining from 15% (Mar 2014) to 7% (Mar 2025). Working capital days: -407.
Valuation
PE 27.1x with 7.21% ROCE. Price is 60% above book value of ₹12.6. Dividend yield: 0.75%.
Recent Announcements
- Commencement Of Toll Collection - Ganga Expressway Project 13h - Toll collection commenced on Ganga Expressway Project from May 17, 2026.
- Corporate Action-Board to consider Dividend 2d
- Board Meeting Intimation for Intimation Of Board Meeting 2d - Board meets May 20, 2026 for FY26 audited results and possible 4th interim dividend; record date May 26, 2026.
- Project Manager For Providing Operation And Maintenance Services To Certain Project Spvs Of IRB Invit Fund 2d - Board approved continued project manager role for three SPVs; agreement value up to ₹1,340 crore.
- Update Provided By IRB Infrastructure Trust (An Associate Of The Company) Regarding Issuance Of A Preliminary And Non-Binding Offer (The "NBO") By The Board Of MMK Toll Road Private Limited, The Investment Manager To IRB Infrastructure Trust (The "Private Invit") On May 14, 2026 To IRB Invit Fund, A Publicly Offered And Listed Infrastructure Investment Trust 14 May - IRB Trust issued non-binding offer to sell two BOT assets to IRB InvIT Fund for Rs.4,663 Cr.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse