GR Infra Q3 Results Review - Motilal Oswal Reiterates 'Buy' On The Stock, Revises Target Price — Here's Why

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Motilal Oswal Report

Given a weaker-than-expected execution in nine months-FY25 and lower-than anticipated Ebitda margin guidance by the management, we cut our Ebitda estimates for FY25, FY26, and FY27 by 6%, 19%, and 13%, respectively.

Consequently, our EPS estimates have been revised down by 4%, 12%, and 8%, respectively.

However, due to the current order book and robust tender pipeline, we expect GR Infraprojects Ltd. to clock a 9% revenue CAGR over FY24-27, with an Ebitda margin in the range of 12-14%. Reiterate Buy with a revised SoTP-based target price of Rs 1,410.

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