GMRAIRPORT

GMR AIRPORTS LIMITED

The GMR group's airport arm — civil airports in India and abroad, plus adjacent businesses

Services›Services›Transport Infrastructure›Airport & Airport services

Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹89.50
Market cap
94,503 Cr
Stock P/E
197.7
Dividend yield
0.1%
ROCE (FY26)
9.6%
Operating margin (FY26)
26.5%
Debt / equity (FY26)
-0.28
OCF / EBITDA (FY26)
84.8%
OCF / EBITDA (3Y)
97.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

GMR Airports (GAL) develops and runs airports in India and abroad, including Delhi and Hyderabad, and earns from airport charges and from businesses at its airports such as duty free, cargo, car parks, food and beverage, advertising and real estate.

Company snapshot

1stBy market cap

Ranked among 2 companies in Airport & Airport services.

Segment mix

Reportable segments as of 2022-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Airports
100.0%
4,799 Cr-418 Cr—

What we see

Positives
  • ✓98% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Interest coverage of 1.0x — earnings barely cover interest payments, which is a warning sign.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,064 Cr2,227 Cr2,447 Cr2,402 Cr2,495 Cr2,653 Cr2,863 Cr3,205 Cr3,670 Cr3,994 Cr3,938 Cr3,964 Cr
Operating expenses (approx.)1,337 Cr1,558 Cr1,630 Cr1,506 Cr1,636 Cr1,662 Cr1,854 Cr2,041 Cr2,223 Cr2,293 Cr2,493 Cr2,517 Cr
EBITDA727 Cr669 Cr817 Cr896 Cr859 Cr992 Cr1,009 Cr1,165 Cr1,447 Cr1,701 Cr1,445 Cr1,447 Cr
OPM %35.2%30.0%33.4%37.3%34.4%37.4%35.2%36.3%39.4%42.6%36.7%36.5%
Other income121 Cr124 Cr124 Cr120 Cr103 Cr95 Cr113 Cr115 Cr84 Cr89 Cr105 Cr121 Cr
Interest696 Cr857 Cr823 Cr889 Cr1,031 Cr829 Cr955 Cr949 Cr1,043 Cr917 Cr950 Cr938 Cr
Depreciation373 Cr393 Cr405 Cr466 Cr474 Cr479 Cr491 Cr489 Cr431 Cr465 Cr452 Cr456 Cr
Profit before tax-135 Cr-465 Cr-148 Cr-300 Cr-386 Cr246 Cr-196 Cr-65 Cr103 Cr246 Cr302 Cr223 Cr
Tax %-40.5%-4.6%-12.9%-12.6%-11.1%17.9%-29.0%-110.8%66.0%29.2%-32.5%33.7%
Net profit-190 Cr-486 Cr-168 Cr-338 Cr-429 Cr202 Cr-253 Cr-137 Cr35 Cr174 Cr400 Cr148 Cr
EPS (₹)₹-0.15₹-0.53₹-0.20₹-0.23₹-0.29₹0.25₹-0.23₹-0.20₹-0.04₹0.12₹0.29₹0.09

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,557 Cr8,721 Cr7,565 Cr8,556 Cr6,229 Cr4,601 Cr6,693 Cr8,755 Cr10,414 Cr14,807 CrSign in free for the trailing twelve months
Operating expenses (approx.)6,325 Cr6,535 Cr5,870 Cr5,927 Cr5,151 Cr2,498 Cr4,970 Cr5,789 Cr6,648 Cr9,051 CrSign in free for the trailing twelve months
EBITDA3,231 Cr2,186 Cr1,695 Cr2,629 Cr1,079 Cr2,103 Cr1,724 Cr2,966 Cr3,766 Cr5,757 CrSign in free for the trailing twelve months
OPM %33.8%25.1%22.4%30.7%17.3%45.7%25.8%33.9%36.2%38.9%Sign in free for the trailing twelve months
Other income482 Cr553 Cr720 Cr667 Cr634 Cr358 Cr596 Cr452 Cr422 Cr393 CrSign in free for the trailing twelve months
Interest2,128 Cr2,316 Cr2,684 Cr3,545 Cr3,172 Cr2,019 Cr2,343 Cr2,929 Cr3,705 Cr3,859 CrSign in free for the trailing twelve months
Depreciation1,019 Cr1,028 Cr984 Cr1,064 Cr1,005 Cr889 Cr1,042 Cr1,466 Cr1,910 Cr1,837 CrSign in free for the trailing twelve months
Profit before tax113 Cr-1,037 Cr-3,436 Cr-2,287 Cr-3,690 Cr-1,083 Cr-726 Cr-635 Cr-635 Cr586 CrSign in free for the trailing twelve months
Tax %659.1%-4.4%2.3%3.7%7.1%-4.5%-15.7%-30.4%-28.6%19.4%Sign in free for the trailing twelve months
Net profit-347 Cr-1,115 Cr-3,356 Cr-2,202 Cr-3,428 Cr-1,131 Cr-840 Cr-827 Cr-817 Cr472 CrSign in free for the trailing twelve months
EPS (₹)₹-0.94₹-2.27₹-5.98₹-4.03₹-4.63₹-1.70₹-0.30₹-0.93₹-0.43₹0.17Sign in free for the trailing twelve months
Dividend payout %—————————20.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital604 Cr604 Cr604 Cr604 Cr604 Cr604 Cr604 Cr604 Cr1,056 Cr1,056 Cr
Reserves4,739 Cr3,215 Cr638 Cr-3,062 Cr715 Cr1,315 Cr365 Cr-2,768 Cr-3,559 Cr-3,536 Cr
Borrowings19,577 Cr21,095 Cr23,962 Cr28,153 Cr32,273 Cr26,516 Cr32,157 Cr35,285 Cr37,634 Cr42,196 Cr
Other liabilities10,491 Cr11,547 Cr15,200 Cr18,158 Cr16,369 Cr8,676 Cr10,986 Cr14,268 Cr12,912 Cr14,118 Cr
Total liabilities37,124 Cr38,287 Cr40,404 Cr46,527 Cr49,960 Cr37,110 Cr44,111 Cr48,683 Cr48,757 Cr54,764 Cr
Fixed assets (net)10,140 Cr9,422 Cr9,614 Cr9,380 Cr9,021 Cr9,495 Cr14,319 Cr27,236 Cr26,756 Cr26,876 Cr
CWIP239 Cr588 Cr857 Cr3,809 Cr6,616 Cr10,163 Cr11,173 Cr1,670 Cr3,802 Cr5,433 Cr
Investments12,422 Cr12,871 Cr13,255 Cr13,611 Cr10,208 Cr3,798 Cr4,478 Cr4,425 Cr4,288 Cr5,959 Cr
Loans & advances——110 Cr917 Cr713 Cr253 Cr466 Cr314 Cr118 Cr704 Cr
Inventories129 Cr104 Cr113 Cr191 Cr175 Cr92 Cr135 Cr130 Cr162 Cr540 Cr
Trade receivables1,737 Cr1,770 Cr1,447 Cr1,424 Cr1,146 Cr376 Cr369 Cr482 Cr531 Cr596 Cr
Cash & bank1,459 Cr1,647 Cr919 Cr2,859 Cr4,300 Cr1,619 Cr3,278 Cr1,795 Cr556 Cr610 Cr
Other assets10,998 Cr11,885 Cr14,089 Cr14,337 Cr17,782 Cr11,314 Cr9,895 Cr12,632 Cr12,545 Cr14,045 Cr
Total assets37,124 Cr38,287 Cr40,404 Cr46,527 Cr49,960 Cr37,110 Cr44,111 Cr48,683 Cr48,757 Cr54,764 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity4,504 Cr2,347 Cr2,052 Cr1,376 Cr3 Cr3,256 Cr2,299 Cr3,880 Cr3,443 Cr4,884 Cr
Cash from investing1,793 Cr-1,014 Cr-3,605 Cr-990 Cr2,433 Cr-1,897 Cr-2,422 Cr-5,788 Cr-3,673 Cr-3,577 Cr
Cash from financing-5,727 Cr-1,191 Cr816 Cr1,617 Cr-1,056 Cr-4,041 Cr1,731 Cr467 Cr-1,010 Cr-1,238 Cr
Net cash flow570 Cr142 Cr-737 Cr2,003 Cr1,382 Cr-2,681 Cr1,620 Cr-1,445 Cr-1,241 Cr56 Cr
Free cash flow (OCF − Capex)3,884 Cr1,632 Cr-795 Cr-1,536 Cr-1,642 Cr118 Cr-1,622 Cr-644 Cr-686 Cr1,555 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.4%4.8%-3.0%4.4%-1.5%3.3%4.9%4.4%5.2%9.6%
ROE %-8.0%-24.2%-289.4%-1020.1%-260.0%-59.0%-18.5%———
Debtor days66747061673020201915
Inventory days3899811816084363508504361863
Days payable4243183520491898118421373207419622382121
Cash conversion cycle-3788-1663-1862-1678-1033-1744-2679-3672-1858-1243
OCF / EBITDA %139.4%107.4%121.1%52.3%0.3%154.9%133.4%130.8%91.4%84.8%
OCF / EBITDA % (3 years)——125.2%88.7%63.5%79.8%113.3%138.9%113.8%97.7%
Debt / equity3.665.5219.30130.4024.4813.8233.19—-0.21-0.28
Current ratio1.051.100.750.751.011.030.981.180.660.77
Net debt / EBITDA5.618.9013.609.6225.9311.8416.7511.299.857.22