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GMR Airports Limited

GMR Airports Limited

GMRAIRPORT.NS
GMR Airports LimitedIN flagNational Stock Exchange of India
98.89
INR
+0.76
- -
1.04TMarket Cap
GMR Airports Limited
GMRAIRPORT.NS
(National Stock Exchange of India)

Recent

price

98.89

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
16.01
20.97
24.88
26.63
25.83
14.11
15.18
13.67
11.82
12.47
4.41
6.25
9.66
12.51
11.4
14.34
14.65
Revenue per Share
-2.35
-1.52
0.22
0.03
-6.46
-4.87
-0.94
-2.27
-5.95
-4.03
-4.63
-1.7
-0.3
-0.93
-0.43
0.17
0.17
Basic EPS, GAAP
-13.11
-23.9
-17.9
-7.59
-2.1
1.88
6.45
2.71
-1.32
-2.55
-2.72
0.2
-2.85
-1.07
-0.75
1.51
- -
Free Cash Flow per Basic Share
0.02
0.01
0.02
0.14
0.14
0.01
- -
0.32
0.1
0.08
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.78
-0.82
-0.93
0.86
-7.26
-9.98
-10.35
-13.04
-17.85
-20.95
-19.88
-1.2
-1.83
-2.97
-1.62
1.02
1.04
Book Value per Share
9.48
-2.13
-3.68
-0.97
3.43
-0.11
5.71
3.08
-3.46
-4.96
-2.98
1.78
0.21
-2.92
-3.23
-2.52
-2.58
Tangible Book Value per Share
3,955
3,967
3,967
3,967
4,233
5,645
6,018
6,018
6,018
6,027
6,036
6,036
6,036
6,036
9,136
10,323
10,108
Basic Weighted Avg Shares
63,321
83,201
98,719
105,670
109,352
79,639
91,378
82,252
71,131
75,152
26,622
37,722
58,318
75,481
104,142
148,074
148,074
Sales/Revenue/Turnover
13.22
8.42
15.88
10.95
5.94
16.59
21.96
12.36
13.48
20.59
-0.74
31.7
11.48
18.1
17.84
28.2
28.2
Operating Margin (%)
7,890
9,793
11,130
15,231
19,813
18,204
15,434
10,491
9,851
10,642
10,045
9,736
10,424
14,659
19,104
18,367
- -
Depreciation Expense
-9,296
-6,033
881
100
-27,333
-27,493
-5,644
-13,639
-35,806
-24,294
-27,973
-10,233
-1,793
-5,593
-3,928
1,755
1,755
Net Income, GAAP
- -
- -
61.5
58.84
- -
- -
659.1
- -
- -
- -
- -
- -
- -
- -
- -
19.4
19.23
Effective Tax Rate (%)
-14.68
-7.25
0.89
0.09
-25
-34.52
-6.18
-16.58
-50.34
-32.33
-105.08
-27.13
-3.07
-7.41
-3.77
1.19
1.19
Profit Margin (%)
-14,226
-78,234
-84,394
-89,816
-38,942
-41,176
7,779
12,601
-35,895
-40,323
4,140
2,112
-2,007
4,799
-30,114
-29,161
-29,161
Working Capital
167,469
254,147
316,332
335,993
332,199
314,045
189,554
205,482
216,586
266,214
310,940
245,127
295,159
348,636
342,239
354,904
354,904
LT Debt
114,803
113,096
109,693
107,853
75,329
62,503
70,558
56,448
12,419
2,159
13,186
19,182
9,688
-8,697
-17,888
-15,492
-15,492
Total Equity
- -
- -
1.2
0.87
- -
- -
-30.71
- -
- -
- -
- -
- -
- -
- -
- -
8.61
8.63
Return on Invested Capital (%)
- -
- -
1.97
2.34
- -
- -
-45.62
- -
- -
- -
- -
- -
- -
- -
- -
7.2
7.22
Return on Capital (%)
-274.7
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-20.79
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
41,631
- -
77,921
LT Borrowings
368,218
- -
344,983
LT Finance Leases
4,803
- -
9,922
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
10,559
- -
10,559
Market Capitalization
890,608
1,052,428
856,618

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
73,162
- -
97,924
Cash, Cash Equivalents & STI
56,013
- -
75,454
Accounts Receivable, Net
6,917
- -
5,963
Inventories
5,446
- -
5,402
Total Current Liabilities
92,063
- -
127,085
Payables & Accruals
- -
- -
- -
ST Debt
41,631
- -
77,921
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
24.15%
-20.3%
-13.4%
Free Cash Flow
-188.48%
-408.89%
-326.55%
Net Income, GAAP
9.94%
-21.67%
-144.67%
Sales/Revenue/Turnover
13.82%
41.18%
42.18%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
20,176
20,635
22,266
12,403
75,481
2025
24,022
24,955
26,532
28,633
104,142
2026
32,052
36,700
39,940
39,382
148,074

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.05
-0.15
-0.53
- -
-0.93
2025
-0.23
-0.29
0.25
-0.23
-0.43
2026
-0.2
-0.04
0.12
0.29
0.17

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
GMR Airports Limited (GAL), Asia's largest private airport operator and the world's second-largest by passenger volume, develops, constructs, operates, and manages sustainable airports and provides integrated aviation services including retail, duty-free, food and beverage, cargo handling, car parking, operations and maintenance, project management consultancy, maintenance repair and overhaul, digital innovation through GMR Innovex, and aviation training via GMR Aero Academy; the company also pursues airport city developments and real estate adjacencies. Headquartered in New Delhi, India, and founded in 1996 as part of the GMR Group, GAL operates Indira Gandhi International Airport in Delhi, Rajiv Gandhi International Airport in Hyderabad, Goa International Airport, and Kualanamu International Airport in Medan, Indonesia, while providing technical services to Mactan Cebu International Airport in the Philippines and developing greenfield projects such as Bhogapuram Airport in India and Kastelli International Airport in Crete, Greece. GAL serves over 120 million passengers annually across its platforms, targeting airlines, passengers, cargo operators, and regional economic stakeholders in India, Indonesia, Philippines, and Greece. In 2024, GAL completed its merger with GMR Airports Infrastructure Limited (formerly GIL) to simplify its corporate structure, enhance shareholder value, and increase agility for growth; Groupe ADP remains a key strategic partner and co-promoter since 2020, bolstering global expertise in sustainability and operations. Recent developments include a Rs 5,000 crore fundraising approval in August 2025 via equity, non-convertible debentures, and foreign currency convertible bonds for a special purpose vehicle focused on the Delhi Cargo City project; a Rs 750 crore term loan secured by subsidiary GCLL from Axis Bank in November 2025 for the same initiative; and a Rs 2,600 crore loan for Nagpur airport expansion, alongside plans to reach over 400 million passenger capacity by 2030. GAL oversees airport security through subsidiary RAXA Security Services Limited and maintains high rankings from Airports Council International and Skytrax for operational excellence.