Conference Call with G R Infraprojects Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Roads & Highways company G R Infraprojects announced Q4FY26 & FY26 results Standalone Financial Highlights: The company reported a Total Income of Rs 26,197.02 million for Q4FY26, representing a growth of 20.88% on a QoQ basis compared to Rs 21,671.25 million in Q3FY26 and an increase of 23.03% on a YoY basis compared to Rs 21,292.96 million in Q4FY25. Revenue from operations for Q4FY26 stood at Rs 25,209.00 million, showing a growth of 23.60% QoQ and 26.65% YoY. EBITDA (net of other income) for the quarter was Rs 2,734.34 million, reflecting a QoQ increase of 33.11% but a YoY decline of 21.53% from Rs 3,484.47 million in Q4FY25. Profit after tax for Q4FY26 reached Rs 4,172.66 million, a significant growth of 79.74% QoQ and a 12.40% increase YoY compared to Rs 3,712.36 million. For the full financial year FY26, the company achieved a Total Income of Rs 80,812.65 million, compared to Rs 70,159.12 million in FY25. Annual Revenue from operations for FY26 was Rs 76,202.17 million, representing a growth of 16.95% over Rs 65,155.68 million in FY25. Annual Profit after tax for FY26 stood at Rs 9,960.56 million, marking an increase of 23.49% YoY from Rs 8,066.07 million in FY25. Consolidated Financial Highlights: Total Income for Q4FY26 was Rs 25,306.70 million, an increase of 8.00% QoQ from Rs 23,431.37 million and a growth of 8.81% YoY from Rs 23,258.45 million in Q4FY25. Revenue from operations for the quarter stood at Rs 25,004.13 million, up 8.32% QoQ and 9.88% YoY. EBITDA (net of other income) for Q4FY26 was Rs 3,684.12 million, representing a decline of 21.29% QoQ and 32.44% YoY. Profit after tax for Q4FY26 was Rs 2,098.60 million, showing a QoQ decrease of 18.89% and a YoY decrease of 47.95% compared to Rs 4,031.60 million. For the full year FY26, the consolidated Total Income reached Rs 85,272.70 million, up from Rs 75,901.25 million in FY25. Annual Profit after tax for FY26 was Rs 9,025.78 million, compared to Rs 10,153.95 million in FY25. Business Highlights: Order Book Performance: The company’s robust order book as on March 31, 2026, stood at Rs 2,64,715 million. Segment-wise Project Mix: The order book is diversified across several segments, with Road projects contributing the largest share at 69%. Other segments include Transmission (8%), Tunnel works (7%), Railway & Metro (3%), Telecom / OFC (2%), and Multi-Modal Logistics Parks (MMLP) (1%). Client and State Distribution: NHAI remains the primary client, accounting for 62% of the order book. Geographically, Uttar Pradesh leads the state-wise distribution at 28%, followed by Maharashtra at 14% and Madhya Pradesh at 14%. Operational Portfolio: As of the current date, the company has 8 operational projects. The company has successfully transferred a total of 13 operational HAM (Hybrid Annuity Model) assets to Indus Infra Trust. In the current quarter, the Ena-Kim, Bilaspur-Urga, and Ujjain-Badnawar projects were transferred to the Trust. Projects Awaiting Appointed Date: Three major projects are currently awaiting their appointed dates: Agra Gwalior (DBFOT Toll project), Mokama – Mugerlink (HAM), and Umarpada – Malotha (HAM). Key Milestones in FY26: The company emerged as the L-1 Bidder for its first BESS (Battery Energy Storage System) Project and achieved a breakthrough for the longest Tunnel – T4 (4,185 m) of the Dibang Project. Working Capital: The net working capital days stood at 128 days as of March 2026, compared to 117 days in March 2025. Standalone Net Debt to Equity ratio improved to 0.03 as of March 2026. Result PDF