GMR Airports (GMRAIRPORT)

FairStock Score: 63/100 — STEADY

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach GMR Airports as a Graham-style analyst: price is what you pay, value is what you get. At ₹101.51 and ₹1.07 lakh Cr market cap, the market is paying a huge premium. P/E is 253.78 and EV/EBITDA is 532.64; even with sales growth of 150.49% and profit growth of 132.40%, those multiples demand extraordinary future cash flows. The latest quarter shows Sales ₹3,994 Cr and Net Profit ₹174 Cr, but the 5-year revenue CAGR is only 4.40%, so the durability of the recent growth is not yet proven. The airport-services label can hint at infrastructure moats, but weak returns suggest those advantages are not yet translating into owner returns: ROE -0.40%, ROCE 6.92%. Free cash flow is negative ₹230 Cr, and dividend yield is zero. That means cash is being consumed, not returned to owners. The Piotroski F-score of 8/9 is a genuine positive, suggesting accounting and momentum are improving. Promoter holding at 66.24% aligns interests, and P/B of 2.24 against book value of ₹45.36 is not the wildest multiple here. But Altman Z-score of 1.91 sits in the grey/distress zone, and the reported Debt/Equity of -15.27 is an odd figure I would need to understand before trusting the balance sheet. The FairStock Score of 63/100 'STEADY' matches my view: not broken, but not a bargain. I would classify it as Cyclical. I want to see ROE and ROCE rise, free cash flow turn positive, and the EV/EBITDA and P/E normalize before paying up. Until then, this is a watchlist candidate, not a Buffett buy.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer