GMR Airports Limited
NSE: GMRAIRPORT · Transport Infrastructure · sector
₹89.88NSE close 2026-10-26
Key numbers
Market cap₹91,085 cr
Price₹89.88
52w high / low₹116 / ₹84
P/E195.4xSector median 195.4x
P/B–Sector median 1.0x
Book value₹-2.5
Dividend yield0.11%Sector median 0.11%
ROE–Sector median -7.9%
ROCE11.3%Sector median 1.2%
OPM37.8%Sector median 12.5%
Debt / equity–Sector median 0.01x
EV/EBITDA21.8xSector median 21.8x
Interest cover1.2x
Current ratio0.77x
Sales growth 3y+30.3%Sector median +12.6%
Profit growth 3y–Sector median -45.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 2 companies in Transport Infrastructure (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5,284 cr vs borrowings ₹42,196 cr (FY26): borrowings are higher by ₹36,912 cr.
- Borrowings rose in each of the last 3 years (₹32,157 cr → ₹42,196 cr).
- Operating profit covered interest 1.2x in the last 12 months.
- 16.47% of the promoters' shares are pledged (11.1% of all shares).
- Promoter holding rose by 1.24 percentage points in a year, to 67.48% (2026-09-30).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 4 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 83% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹89.88 on 2026-10-26: -22.3% from the 52-week high, +6.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹113.53 · low ₹69.82
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,495 | 2,653 | 2,863 | 3,205 | 3,670 | 3,994 | 3,938 | 3,964 |
| EBITDA | 968 | 1,400 | 1,099 | 1,211 | 1,482 | 1,517 | 1,438 | 1,447 |
| OPM % | 38.8% | 52.8% | 38.4% | 37.8% | 40.4% | 38.0% | 36.5% | 36.5% |
| Other income | 103 | 95 | 113 | 115 | 84 | 89 | 105 | 121 |
| Net profit | -280 | 267 | -238 | -212 | -37 | 122 | 302 | 91 |
| EPS (₹) | -0.29 | 0.25 | -0.23 | -0.20 | -0.04 | 0.12 | 0.29 | 0.09 |
| Revenue YoY | +47.1% | +50.5% | +37.5% | +23.7% | ||||
| Profit YoY | – | -54.3% | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 4,601 | 6,693 | 8,755 | 10,414 | 14,807 | 15,566 |
| EBITDA | 1,714 | 1,978 | 3,081 | 4,373 | 5,648 | 5,885 |
| Net profit | -1,131 | -179 | -559 | -393 | 175 | 478 |
| EPS (₹) | -1.70 | -0.30 | -0.93 | -0.43 | 0.17 | 0.46 |
| Revenue growth | +45.5% | +30.8% | +19.0% | +42.2% | +38.8% | |
| Profit growth | – | – | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +30.3% | +18.9% | +38.8% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | – (2y) | -4.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | -793 | -2,164 | -2,503 | -2,480 |
| Borrowings | – | 32,157 | 35,285 | 37,634 | 42,196 |
| Cash & equivalents | – | 6,559 | 5,643 | 3,604 | 5,284 |
| Total assets | – | 44,111 | 48,683 | 48,757 | 54,764 |
| Fixed assets | – | 14,319 | 27,236 | 26,756 | 26,876 |
| Capital work in progress | – | 11,173 | 1,670 | 3,802 | 5,433 |
| Investments | – | 98 | 193 | 283 | 238 |
| Receivables | – | 369 | 482 | 531 | 596 |
| Inventory | – | 135 | 130 | 162 | 540 |
| Payables | – | 851 | 1,085 | 1,005 | 1,328 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 3,256 | 2,299 | 3,880 | 3,443 | 4,884 |
| Cash from investing | -1,897 | -2,422 | -5,788 | -3,673 | -3,577 |
| Cash from financing | -4,041 | 1,731 | 467 | -1,010 | -1,238 |
| Capex | 3,138 | 3,921 | 4,525 | 4,129 | 3,329 |
| Free cash flow | 118 | -1,622 | -644 | -686 | 1,555 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 22.6% | 25.8% | 15.7% | -7.1% |
| ROCE % | – | 4.9% | 6.2% | 8.2% | 10.6% |
| Debtor days | – | 20 | 20 | 19 | 15 |
| Inventory days | – | 263 | 222 | 188 | 201 |
| Payable days | – | 1,658 | 1,847 | 1,163 | 494 |
| Cash conversion cycle (days) | – | -1,375 | -1,605 | -956 | -278 |
| Working capital days | – | -11 | 47 | -106 | -72 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 67.48% |
| FIIs | 22.94% |
| DIIs | 4.80% |
| of which Mutual funds | 2.32% |
| of which Insurance | 0.84% |
| Government | 0.00% |
| Public (non-institutions) | 4.78% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 66.07% | 66.24% | 66.24% | 66.24% | 66.24% | 66.33% | 67.16% | 67.48% |
| Promoter group | % |
|---|---|
| Aeroports de Paris S.A. | 26.21% |
| GMR Enterprises Private Limited | 13.65% |
| GMR Infra Enterprises Private Limited | 11.54% |
| GMR Business and Consultancy LLP | 7.18% |
| GVL Investments Pvt. Ltd | 4.28% |
| GMR Infra Services Private Limited | 3.37% |
| Hyderabad Jabilli Properties Private Limited | 0.54% |
| Varalakshmi Enterprises LLP | 0.33% |
| GMR Infra Ventures LLP | 0.29% |
| G Ragini | 0.02% |
| Grandhi Satyavathi Smitha | 0.02% |
| Varalakshmi Grandhi | 0.01% |
| Kiran Kumar Grandhi | 0.01% |
| Grandhi Mallikarjuna RAO HUF | 0.01% |
| Mallikarjuna RAO Grandhi | 0.00% |
| Public holders above 1% | % |
|---|---|
| Fidelity Advisor International Capital Appriciatio | 1.73% |
| GQG Partners Emerging Markets Equity Fund | 1.65% |
| Gram Limited | 1.48% |
| Aditya Birla SUN Life Mutual Fund - Aditya Birla S | 1.10% |
6,72,477 shareholders. Pledged: 16.47% of promoter shares.
Peers in Transport Infrastructure
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| GMRAIRPORT | ₹91,085 cr | 195.4x | – | – | 11.3% | 37.8% | +30.3% | 0.11% |
| DREAMFOLKS | ₹300 cr | – | 1.0x | -7.9% | -9.0% | -12.8% | -5.1% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-05 | Other | Annual General Meeting |
| 2023-09-08 | Other | Annual General Meeting |
| 2022-09-16 | Other | Annual General Meeting |
| 2022-01-11 | Restructuring | Demerger |
| 2021-08-31 | Other | Annual General Meeting |
| 2020-09-10 | Other | Annual General Meeting |
| 2019-09-05 | Other | Annual General Meeting |
| 2018-09-11 | Other | Annual General Meeting |
| 2017-09-20 | Other | Annual General Meeting |
| 2016-09-02 | Other | Annual General Meeting |
| 2015-09-14 | Other | Annual General Meeting |
| 2015-03-11 | Rights | Rights 3:14 @ Premium Rs 14/- Per Share |
| 2014-09-09 | Dividend | Annual General Meeting / Dividend - Re 0.10/- Per Share |
| 2013-09-05 | Dividend | Annual General Meeting And Dividend Re.0.10/- Per Share |
| 2012-08-31 | Other | Annual General Meeting |
| 2011-08-24 | Other | Annual General Meeting |
| 2010-08-17 | Other | Annual General Meeting |
| 2009-10-01 | Split | Fv Split Rs.2/- To Re.1/- |
| 2009-08-20 | Other | Annual General Meeting |
| 2008-08-08 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Development and operations of airport assets: Operation, management, and development of airports including non-aeronautical revenue
- Other allied activities to airport ecosystem: City side real estate development and security services
| Sector | Services |
| Industry | Transport Infrastructure |
| Sub-industry | Airport & Airport services |
| Symbol | GMRAIRPORT |
| BSE code | 532754 |
| ISIN | INE776C01039 |
| Face value | ₹1.0 |
| Incorporated | 1996-05-10 |
| Website | https://gmraero.com |
| Plants (India / abroad) | 5 / 3 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.