GMR Airports Ltd.

NSE: GMRAIRPORT · Airport & Airport services

52W Range₹84 ₹116

Snapshot

Unlock GMR Airports Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

GMR Airports Infrastructure Limited is a major developer and operator of airport infrastructure, managing both domestic and international facilities. The company operates through a build, own, operate, and transfer model.

Business Model

The company generates revenue primarily through airport operations, aeronautical services, and non-aeronautical commercial activities at its managed airports. It leverages public-private partnership models to develop and maintain large-scale aviation infrastructure.

Growth Outlook

Growth is driven by the expansion of existing airport capacities and the acquisition of new airport development projects. Increasing air passenger traffic in India serves as a primary tailwind for long-term infrastructure utilisation.

Key Risks

  • Regulatory Risk. Changes in government aviation policies or tariff regulations by the Airports Economic Regulatory Authority can significantly impact profitability.
  • Operational Risk. The company faces risks related to the complex management of high-traffic infrastructure, including safety standards and service level agreements.
  • Economic Sensitivity. Airport revenues are highly sensitive to macroeconomic conditions and fluctuations in global air travel demand.
  • Capital Intensity. The business requires substantial capital expenditure for infrastructure development, leading to high debt levels and interest rate sensitivity.

Price

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Key Metrics

REVENUE

₹14,807 Cr

TTM · consolidated

+42.2%YoY

NET PROFIT

₹472 Cr

TTM · consolidated

+157.8%YoY

EPS

₹0.17

TTM · consolidated

+134.0%YoY

RETURN ON EQUITY

-18.9%

TTM · consolidated

-55.2 ppYoY

RETURN ON CAPITAL EMPLOYED

10.4%

TTM · consolidated

+3.5 ppYoY

P/E

658.5x

Q4 FY26 · consolidated

658.5 vs 231.9x5Y avg

EV/EBITDA

26.0x

Q4 FY26 · consolidated

26.0 vs 1023.3x5Y avg

EBITDA MARGIN

41.5%

TTM · consolidated

+1.3 ppYoY

NET PROFIT MARGIN

10.2%

Q4 FY26 · consolidated

+19.0 ppYoY

DEBT TO EQUITY

-17.0x

Q4 FY26 · consolidated

-1.99xYoY

Peers · Airport & Airport services

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
GMR Airports Ltd.GMRAIRPORT
94,450658.4725.9842.2%41.5%-18.9%10.4%+19.2%
Dreamfolks ServiDREAMFOLKS
35331.8916.32-48.9%3.3%3.8%5.7%-56.4%

As of Q4 FY26

Financials