Focus on new order inflows; execution to be muted in near term

Company
11 Mar 2024
5 Min read 
  • G R Infraprojects reported a decrease in revenue in 3QFY24 due to a delay in project execution.
  •  The company's order book stands at INR193b, with road projects accounting for 83% of the orders.
  •  The management expects muted revenue growth in FY24 and FY25, with a significant improvement in FY26.
  •  GRINFRA plans to diversify its order book and bid for projects in transmission, ropeway, tunneling, and MMLP.
  •  The company has lowered its order inflow guidance for FY24 and expects to win INR150b of projects in FY25.
  •  Motilal Oswal retains a BUY rating on GRINFRA with a revised target price of INR1,390.
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