G R Infraprojects Ltd. · NSE:GRINFRA
G R Infraprojects — Q3 FY2025-26 Earnings Presentation
36 slides from G R Infraprojects's earnings presentation, Feb 9, 2026
Slide 1: Cover letter to stock exchanges
09th February 2026 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C-1 Dalal Street, Fort G Block, Bandra-Kurla Complex, Bandra(E) Mumbai – 400001 Mumbai -400051 Scrip Code: 543317 Symbol: GRINFRA Subject: Investor Presentation on the finan
Slide 2: G R Infraprojects Limited Company Presentation Q3 FY2025-26
G R Infraprojects Limited CIN: L45201GJ1995PLC098652 Getting People Places, Faster Company Presentation Quarter 3 - Financial Year 2025-26
Slide 3: Context
Context Disclaimer Page 3 1 2 Quarterly Highlights Page 4 3 What we do and key milestones Page 15 4 Overview – Historical data (Financial & Operational) Page 23 5 Awards Page 31 2
Slide 4: Disclaimer
Disclaimer This presentation is issued by G R Infraprojects Limited (the “Company”) for general information purposes only, without regard to specific objectives, suitability, financial situations and needs of any particular person. This presentation does not constitute or form part of any offer or i
Slide 5: Quarterly Highlights
Quarterly Highlights “e
Slide 6: Q3-FY26 Standalone Synopsis
Q3-FY26 Standalone Synopsis Total Income (Rs in Mn) EBITDA Margin (%) & EBITDA (Rs in Mn) PAT Margin (%) & PAT (Rs in Mn) 9.76% 10.07% 10.61% 9.66% QoQ Highlights 60.29% 70.60% 21,671 50.51% 13,520 2,054 1,969 1,204 1,308 Q2 2026 Q3 2026 Q2 2026 Q3 2026 Q2 2026 Q3 2026 Total Income (Rs in Mn) EBITDA
Slide 7: Net Working Capital Days and Debt to Equity
Q3-FY26 Net Working Capital Days Dec 2024: 124 Days Dec 2025: 93 Days Debt to Equity Ratio & Net Debt to Equity Ratio (including Mob. Advances) 1.2 1.03 0.96 1 0.92 90 0.8 0.83 0.67 0.68 0.6 0.61 0.58 0.61 0.53 0.56 0.6 71 0.63 0.6 0.56 0.57 0.58 0.4 0.51 0.48 0.43 0.21 0.20 0.2 0.13 0.12 0.10 41 42
Slide 8: Standalone Profit and Loss Statement
Standalone Profit and Loss Statement (Rs in Millions) A B C D E F P articulars Q3 Q2 Q3 Q on Q P on P Y on Y PE Dec 25 PE Dec 2 4 YE Mar 25 FY 2 5-26 FY 25 -2 6 FY 24-2 5 movement movement (Qtr)mov e Income Revenue from operations 2,039.49 1,233.69 1,500.53 5,099.32 4,525.16 6,515.57 65.32% 12.69% 3
Slide 9: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement (Rs in Millions) A B C D E F Particulars Q3 Q2 Q3 Q on Q P on P Y on Y PE Dec 25 PE Dec 24 YE Mar 25 FY 2 5-26 FY 25 -26 FY 24-25 movement movement (Qtr)move Income Revenue from operations 23,082.77 16,021.40 16,945.00 58,982.06 51,191.30 73,947.04 44.07% 15.22
Slide 10: Debt Breakup (Fund Based) as on December 31, 2025
Debt Breakup (Fund Based) as on December 31, 2025 Particulars Rs. in Million STANDALONE DEBT Debentures 2,291.11 Standalone Debt Term loan - 26% DEBENTURES LC Bill Discounting 152.09 TERM LOAN Mobilization advances 847.76 5% LC Bill Discounting Total Debt 3,290.96 0% MOBILISATION #Cash and bank 2,37
Slide 11: Robust Order Book
Robust Order Book Order book as on 31st December 2025 is Rs 2,02,548 Mn * Project Mix Client Wise Distribution State Wise Distribution 9% Uttar Pradesh 1% 1% Maharashtra 4% 5% 6% 6% 4% 5% Madhya Pradesh 2% 5% 1% 3% 6% 6% Gujarat 8% 10% Bihar MMLP 2% Chattisgarh NHAI 21% Rajasthan 12% Road 30% OTHERS
Slide 12: Projects Portfolio
Projects Portfolio 11
Slide 13: Portfolio of Road / Transmission Projects (Operational)
Portfolio of Road / Transmission Projects (Operational) Reengus-Sikar (BoT - Annuity) Nagaur-Mukundgarh (HAM) Transmission system in Rajgarh (BOOT) Bilaspur-Urga (Ham) Ena – Kim (HAM) Ujjain - Badnawar (HAM) Bandikui-Jaipur Corridor (HAM) Govindpur-Rajura (HAM) Madanapalli-Pileru (HAM) Shirsad-Masva
Slide 14: Portfolio of Road / Transmission Projects (Under Construction)
Portfolio of Road / Transmission Projects (Under Construction) • Yamuna Bridge Highway (HAM) • Venkatpur Thallasenkesa (HAM) • Amritsar Bathinda Corridor (HAM) • Ludhiana Rupnagar (HAM) • Hasapur – Badadal Highway (HAM) Highways • Bamni to MH/TG Border (HAM) • Devinagar Kasganj Bypass (HAM) • Belgau
Slide 15: Projects awaiting appointed date
Projects awaiting appointed date Agra Gwalior (DBFOT Toll project) 14
Slide 16: What we do & Key Milestones
What we do & Key Milestones 15
Slide 17: GRIL – Our Business
GRIL – Our Business HIGHWAYS & BRIDGES* RAILWAYS & METRO* TUNNELLING ROPEWAYS HYDRO • Design and construction Construction of Head Race Tunnels Designing and Construction including civil works, track Design, Build, Operate, and including intake, Pressure Shafts, (EPC+HAM) of Roads, Highways, linking
Slide 18: Journey & Key Milestones
JOURNEY & KEY MILESTONES • Received • LoA • LoA received for • Established • Equity investment • Successful listing at ‘Certificate of • First BOT Hybrid received first telecom and centralised by IBEFI, IBEF, and BSE and NSE on 19th Commencement’ Annuity Project for MMLP IT infrastructure workshop f
Slide 19: Overview – GRIL Snapshot
Overview – GRIL Snapshot An Integrated EPC Company, with proven track record of timely project execution over last 28 years. Presence in 24 States 4 Manufacturing Units 7000+ plant & equipment ~10,057 employees CARE Rating: AA+ (Stable) CRISIL Rating: AA (Stable) 18
Slide 20: Our Clients
GRIU Our Clients GE we a 2) poe, Y wpeida Ministry of Road Transport BUILDING INFRASTRUCTURE - BUILDING THE NATION Development Authority and Highways MSRDC MAHA METRO PWD = bee Public Works Department Nw PC ‘wet Faq Government of Rajasthan on | REC peli doridach shdge dot arab tabard PowerDeveloomen
Slide 21: Expand the Portfolio: Committed to growth, with purpose
Committed to growth, with purpose FOCUSED MARKET Construction STRATEGIES Environment We understand the nations need, We show our care for the design it through perfection and environment through CSR EXPAND THE PORTFOLIO build it to dreams FOCUSED EPC PLAYER initiatives GROWING TOGETHER WITH OUR NATI
Slide 22: Strong Board with diverse experience
Strong Board with diverse experience Ajendra Kumar Agarwal : Managing Director He holds a bachelor’s degree in civil engineering from Jodhpur University and has experience of over 28 years in the road construction industry. He is responsible to administer the overall functioning of our Company. He h
Slide 23: Strong Board with diverse experience
Strong Board with diverse experience Rajendra Kumar Jain : Non- Executive Independent Director He holds a bachelor’s degree in commerce from Rajasthan University and a master’s degree in commerce (specialising in business administration) from Maharshi Dayanand Saraswati University, Ajmer. He is also
Slide 24: Historical Data (Financial & Operational)
Historical Data (Financial & Operational) 23
Slide 25: Historical Financial Data
Historical Financial Data Revenue From Operations (Rs in Mn) EBITDA* (%) / EBIDTA (Rs in Mn) 81,476 79,192 77,880 19.50% 17.94% 72,445 17.56% 20.02% 65,156 16.98% 14,940 14,379 14,135 14,049 13,607 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Revenue From Operation
Slide 26: Historical Financial Data
Historical Financial Data PAT (Rs in Mn) / PAT Margin * (%) Net Cash Flow (Used In)/ from operating Activities (Rs in Mn) 10.78% 12.07% 8,682 9.61% 10.45% 8,475 7,644 8,518 9.70% 7,806 7,864 7,608 7,556 5,606 4,199 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 PAT N
Slide 27: Historical Financial Data
Historical Financial Data Fixed Assets Turnover Ratio Net Debt/ Equity & Net Debt /EBITDA 6.27 0.82 5.73 5.67 5.74 5.51 0.72 0.70 0.54 0.33 0.35 0.23 0.21 0.10 0.06 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Net Debt/Equity Net Debt/EBITDA Fixed Assets Turnover R
Slide 28: Historical Operational Data
Historical Operational Data Employee Count Order Book * (Rs.in Mn) 1,95,294 1,91,799 17,721 16,333 16,157 1,70,526 1,67,806 14432 1,31,039 10934 FY21 FY22 FY 23 FY 24 FY 25 FY21 FY22 FY 23 FY 24 FY 25 Employee Count Order Book *excluding GST 27
Slide 29: Strong focus on Quality Execution
Strong focus on Quality Execution Design and engineering (Centralized): Continuous improvements are made on the designs in coordination with the Project Management Team (PMT) Manufacturing (In-house across the country): Supply is synchronized with site progress and product specifications are finaliz
Slide 30: Capabilities
CAPABILITIES HUMAN CAPITAL FINANCIAL DISCIPLINE Strict oversight on costs by creating an 10,057 highly skilled, experienced, ownership mind-set and good governance and committed employees BACKWARD INTEGRATION DIGITAL PROJECT MANAGEMENT Manufacturing of key components, and Streamlined process of plan
Slide 31: Leveraging operating efficiencies from vertical integration
Leveraging operating efficiencies from vertical integration THREE KEY STEPS IN VALUE CHAIN PMB, Emulsion facility & Enables efficient Road Signages, Udaipur. In-House Design & Capacity: 30,000MT designs & quick Engineering Team Emulsion Facility, Sandila changes Capacity:24,960 MT Integrated Owned c
Slide 32: Awards and Accolades
Awards and Accolades 31
Slide 33: Awards & Accolades
AWARDS & ACCOLADES Best Best Places to Tunnelling Achiever’s Award: Performing Work in Project of Excellence in Contractor Construction the Year Highway Award Industry Award 2025 Construction Safety NHIDCL Ambition Box TAI ASSOCHAM Best HSE Emerging Construction Partners for Companies Infra Leader o
Slide 34: Awards & Accolades
AWARDS & ACCOLADES Emerging Top Challenger Best Places to Timely Project in Indian Companies Work in Completion in Construction Excellence Award Construction Challenging Industry Industry Conditions Business Today in Construction association with Ambition Box ASSOCHAM World Festival Yes Bank Best Be
Slide 35: Awards & Accolades
AWARDS & ACCOLADES Outstanding Top 10 Bitumen Fastest Growing 5th Annual Contribution in Manufacturers Construction Finance Roads & Highways Company Conclave EPC World Awards Industry Outlook 19th Construction ICEMA World Annual Certificate of Certificate of Certificate Certificate of Appreciation-
Slide 36: Getting People Places, Faster
G R Infraprojects Limited Corporate Office: GR One, Plot No. 7B, Sector-18, Maruti Industrial Complex, Gurugram, Haryana – 122015, +91 124 643 5000 Registered Office: Revenue Block No.-223, Old survey No. 384/1, 384/2, Paiki Getting People Places, Faster and 384/3, Khata No. 464, Kochariya, Ahmedaba
G R Infraprojects — Q3 FY2025-26 Earnings Presentation on 6ix