ICICI Direct's research report on GR Infraprojects
GR Infraprojects (GRIL) is a leading player in the roads and highways sector having an overall order book size of Rs 17,005.6 crore. The company has delivered 26.6% revenue CAGR during FY16-22, wellcomplemented by 33.6% EBITDA CAGR and 39% PAT CAGR • Prudent management, lean balance sheet position, healthy return ratios.
Outlook
We assign BUY rating (vs. REDUCE earlier) on the company as asset monetisation through InvIT will boost scalability, ahead. We value GRIL at a target price of Rs 1,620.
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