Arihant Capital IPO report on G R Infraprojects
G R Infraprojects is an integrated road engineering, procurement, and construction company with experience in designing and construction activities and road/highway projects. It mainly undertakes civil construction projects under the EPC and BOT (Build Operate Transfer) basis in the road sector but also diversified into manufacturing activities of thermoplastic road-making paints, electric poles, road signages, and fabricating metal crash barriers. Till April 2021, it has completed 100+ road construction projects successfully, and currently, 4 BOT projects are under construction. The company owns 3 manufacturing facilities at Udaipur (Rajasthan), Guwahati (Assam), and Sandila (Uttar Pradesh) and has a fabricating and galvanization unit at Ahmedabad, Gujarat.
Valuation and Outlook
At a upper price band of INR 837 stock is trading at a EV/EBIDTA multiple of 6.1(x) to its FY21 EBIDTA of INR 1913 cr .We are recommending subscribe on IPO for long term pick as well as listing gains. We like company with its strong order book and good execution supported by its balance sheet.
For all IPO stories, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More