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    Industrial services

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    Engineering & construction
Giriraj Civil Developers Ltd.

Giriraj Civil Developers Ltd.

NNSE:GIRIRAJ
40.85
INR
-1.55
(-3.66%)
4.43BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
34.81
30.51
29.57
27.64
34.22
27.02
15.07
39.19
51.22
62.53
142.93
131.39
129.17
- -
Basic EPS, GAAP
1.21
1.17
1.08
1.1
1.31
1.42
0.64
1.65
2.34
2.23
8.3
7.48
6.31
- -
Free Cash Flow per Basic Share
-1.98
-0.22
-1.85
0.94
1.6
-1.32
-0.65
17.78
-3.45
-3.47
-34.11
-3.64
-2.14
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
7.23
8.69
9.77
10.88
14.03
15.38
16.36
18.37
21.06
29.84
47.34
54.82
61.13
61.13
Tangible Book Value per Share
7.23
8.69
9.77
10.88
14.03
15.38
16.36
18.37
21.06
29.83
47.32
54.8
61.04
61.04
Basic Weighted Avg Shares
16
16
16
16
16
16
16
16
16
20
12
24
24
24
Sales/Revenue/Turnover
565
495
480
448
555
438
244
636
831
1,264
1,743
3,143
3,090
- -
Operating Margin (%)
6.34
6.47
8.2
10.22
9.33
11.7
10.51
8.29
7.21
6.29
8.39
7.6
7.25
- -
Depreciation Expense
1
1
1
1
1
1
1
1
1
5
11
15
15
- -
Net Income, GAAP
20
19
18
18
21
23
10
27
38
45
101
179
151
- -
Effective Tax Rate (%)
34.25
31.18
33.28
33.86
31.38
26.84
24.11
26.38
24.51
29.44
24.56
27.38
26.24
- -
Profit Margin (%)
3.48
3.83
3.65
3.99
3.81
5.24
4.23
4.2
4.56
3.56
5.81
5.69
4.88
- -
Working Capital
44
61
89
66
128
132
181
2
48
366
582
1,063
1,094
1,094
LT Debt
- -
- -
9
7
36
18
4
- -
- -
- -
17
19
88
88
Total Equity
117
141
158
177
228
250
265
298
342
603
1,132
1,311
1,462
1,462
Return on Invested Capital (%)
13.09
10.43
10.34
9.4
9.06
8.46
4.7
8.37
9.15
8.33
10.64
12.2
10.1
- -
Return on Capital (%)
15.34
12.67
11.37
9.87
9.91
9.4
5.62
8.75
10.36
9.08
11.1
13.9
10.63
- -
Return on Common Equity (%)
18.31
14.68
11.69
10.67
10.48
9.63
4.01
9.48
11.86
9.53
11.66
14.64
10.88
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
245
98
136
LT Borrowings
19
11
88
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
24
24
24
Market Capitalization
6,351
8,970
4,425

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
2,156
1,780
1,989
Cash, Cash Equivalents & STI
66
37
67
Accounts Receivable, Net
694
544
966
Inventories
700
827
655
Total Current Liabilities
1,093
976
895
Payables & Accruals
- -
- -
- -
ST Debt
245
98
136
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
27.49%
41.26%
11.51%
Free Cash Flow
-285.83%
55.87%
-41.27%
Net Income, GAAP
37.9%
49.3%
-15.62%
Sales/Revenue/Turnover
31.15%
39.87%
-1.69%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,743
2025
- -
- -
3,143
2026
- -
- -
3,090

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
8.3
2025
- -
- -
7.48
2026
- -
- -
6.31

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Krushang Mahesh Shah
Full Time Employees
154
Sector
Industrial services
Industry
Engineering & construction
Address
Nine Square Mumbai MA India 400092
IPO Date
Apr 2, 2018
Website
giriraj.co
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Business
Giriraj Civil Developers Limited (GIRIRAJ.NS) operates as a civil construction contractor in India, specializing in railway infrastructure projects including railway station buildings, officer residential buildings, road over bridges (ROB), foot over bridges (FOB), car sheds, railway yards, track laying and fitting, earthworks, and railway bridges; it also undertakes local government contracts for roads, road expansions, community halls, government schools, garden developments, and related repair and maintenance activities, alongside turnkey projects encompassing planning, estimation, design, construction, and maintenance services. The company delivers comprehensive solutions to government, semi-government, corporate, and private clients primarily in the heavy construction segment across India, with a focus on Maharashtra and Gujarat regions. Incorporated on October 19, 2005, as a private limited company and converted to public limited status on January 22, 2018, with NSE SME listing on April 2, 2018, Giriraj Civil Developers Limited maintains its headquarters at 2nd Floor, Nine Square Building, Ramdas Sutarle Marg, Borivali West, Mumbai, Maharashtra. In recent developments, the company secured contracts worth INR 479.7 million from Western Railways in May 2024 for a 6-meter wide foot over bridge between Borivali-Dahisar and construction of washing cum inspection pits at Bandra Terminus; it also won an EPC contract valued at INR 181.45 crore from North Central Railway in June 2024 for the major upgradation of Khajuraho Railway Station. Further, Giriraj Civil Developers reported robust financial growth for the fiscal year ended March 2025, with revenue reaching INR 295 crore and profit at INR 17.9 crore, reflecting compounded sales growth of 119% on a trailing twelve-month basis and strong quarterly performance including 139.74% sales increase in the latest reported quarter. Operationally, the company approved shifts including a registered office relocation in February 2025, higher borrowing limits up to INR 1,000 crore, asset disposal powers, and director remuneration increases at its September 2025 AGM; additionally, its CEO Ravindra Shamarao Sangam resigned effective December 15, 2025, with Krushang Mahesh Shah serving as Chairman and CEO.