GR Infraprojects shares: What's next after 10% rally today?

GR Infraprojects on Monday climbed 9 per cent despite a sub-par set of Q4FY25 results. The integrated road Engineering, Procurement, Construction (EPC) company's executable order book (OB) stood steady at Rs 14,000 crore at last count, analysts said adding that there are hopes that a robust tender pipeline may push order inflows higher going ahead. 

GR Infraprojects climbed 9.82 per cent to settle at Rs 1,326.75 on BSE. Analyst targets on the stock suggests up to 21 per cent potential upside on the counter.

ICICI Securities said GR Infra continues to tread water on order inflow front, with total order inflows of Rs 14,000 crore in FY25 and FY24 combined - matching FY23’s tally as the ordering in roads remained subdued. 

The impact was visible in FY25, with revenue declining 16 per cent YoY to Rs 6,500 crore. Ebitda took a 20 per cent hit to Rs 900 crore, as margin slipped 70 basis points, the brokerage said.

"With appointed dates likely for two projects by Q3FY26 and L1 status secured in four projects worth INR 52bn, GR Infra may soon see improvement in its OB. A robust Rs 1.8 lakh tender pipeline offers opportunity for OI to pick up pace, aiding the company to deliver on its 10–15 per cent revenue growth guidance for FY26," ICICI Securities said. 

Nuvama said low leverage and improving revenue visibility are positives for GR Infraprojects, but uneven margin trajectory and continued slowdown in road awarding remain a cause for concern. It maintained ‘Hold’ on the stock with a revised target of Rs 1,342 against Rs 1,289 earlier.

JM Financial said GR Infraprojects is L1 in projects worth Rs 5,200 crore. At present, 75 per cent of the order backlog is under execution and entire backlog would be under execution by December 2025. 

GR Infraprojects has guided for revenue growth of 10-15 per cent with Ebitda margins of 12-13 per cent for FY26. 

"GR Infraprojects is well capitalised to capture opportunities ahead which would drive 26 per cent core EPS CAGR over FY25-27E. Maintain BUY with revised SoTP based price target of Rs 1,605," JM Financial said.

GR Infraprojects is currently trading at 5 times FY27 EPS.ICICI Securities upped the target of the stock to Rs 1,420 from Rs 1,329.