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As of 6 Nov 2026, GMR Airports trades at 240.9× trailing earnings, above the industry P/E of 18.8×, and the shares are 15% below their 52-week high. Sales grew 32% a year over 3 years, with ROCE of 10%. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹47,408 Cr. It is a large-cap company with a market cap of ₹1.1 lakh crore, the largest of 4 Airports & Air Services companies by market cap; the shares rose 4.4% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹98.60
Day high
₹99.38
Day low
₹97.40
Prev. close
₹99.30
Volume
2 Cr

Health check

1 good · 1 fair · 3 to check
  • ReturnsModest

    +4.4% over the past year.

  • Price tagNegative equity

    Book value is below zero, so P/E and P/B mislead here.

  • GrowthStrong

    Sales +31.8% a year over 3 years.

  • ProfitabilityDistorted

    With negative net worth, return ratios are meaningless.

  • Balance sheetStretched

    Negative net worth: liabilities exceed assets.

  • Red flags3 to check

    Negative net worth: liabilities exceed assets.

Computed from reported figures. Educational, not a recommendation.

Airports & Air Services

3 listed peers. Screen the industry

Large cap

₹1.1L Cr, the largest of 4 in its industry.

Defensive

Beta 0.65 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹15,992 Cr · profit ₹500 Cr
Market cap
₹1.1L Cr
Large cap
P/E
240.9
Industry 18.8
Price to book
−43.25
Peers 1.00
Dividend yield
0.00%
ROE
n/a
Peers 3.8%
ROCE
10.4%
Peers 5.5%
Debt to equity
n/a
Debt ₹47,408 Cr
EPS (TTM)
₹0.41
Face value ₹1
OPM (TTM)
26.6%
Net margin 3.1%
Sales growth
+11.6%
Latest quarter vs a year ago
Profit growth
n/a
Year-ago quarter not reported
Price to sales
6.58
EV/EBITDA 24.3

Strengths and risks

Strengths

  • Positive operating cash flow in each of the last 4 years.
  • Promoter stake up from 66.2% to 67.5%.

Risks to check

  • Negative net worth: liabilities exceed assets.
  • P/E of 240.9 against an industry P/E of 18.8.
  • Interest coverage of only 1.5×.

Derived automatically from reported figures. Not a recommendation.

About GMR Airports

GMR Airports Limited development, maintenance, and operation of airports in India. It is also involved in operation of international airports on build, own, operate, and transfer basis. In addition, the company engages in construction business, including engineering, procurement, and construction contracting activities; and provides security services, as well as engages in maintenance, repairing, and overhauling of aircraft. The company was formerly known…

Headquarters
New Delhi
Employees
12,287
Sector
Industrials
ISIN
INE776C01039
Website
gmraero.com

Price range

52 weeks

₹84.11₹115.64

Today

₹97.40₹99.38
Avg volume (3M)
1.4 Cr
1-year return
plus 4.4%
From 52-week high
minus 14.6%

Analyst consensus

9 analysts
Strong buyMean target ₹116.89 plus 18.4%

Target range, with today’s price

Low ₹91.00High ₹135.00

Next results expected around 28 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Airports & Air Services

Compare with peersScreen the whole industry
Company
GMRAIRPORTGMR Airports98.75minus 0.55%1,05,277240.9−43.2510.4%–26.6%31.8%–0.00%plus 4.4%
TAALTECHTaal Tech912.60minus 1.44%1,42222.85.8030.5%25.3%28.7%7.4%22.0%0.00%plus 10.3%
DREAMFOLKSDreamfolks Services58.67minus 0.91%313–1.005.5%3.8%−13.9%−5.1%−45.8%0.00%minus 53.5%
GLOBALVECTGlobal Vectra Helicorp126.17minus 2.81%177–−21.81−4.3%−490.7%−13.8%8.2%–0.00%minus 42.7%
Median of 3 peers–−1.44%31322.81.005.5%3.8%−13.8%7.4%−11.9%0.00%−42.7%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
3,6703,9943,9383,9644,095
2,5932,7432,9072,9723,113
1,0771,2511,032992982
29.3%31.3%26.2%25.0%24.0%
33.895227170148
1,043917950938993
35−183−6.4––
103246302223137
66.0%29.2%−32.5%33.7%52.4%
−37.112230291−14.9
-0.040.120.230.07-0.01

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+31.8%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5,8327,5488,97413,345
–+29.4%+18.9%+48.7%
4,1204,7165,3367,517
1,7122,8333,6385,828
29.4%37.5%40.5%43.7%
701567411308
2,3072,8433,5233,770
1,0421,4661,9101,837
20227374957.3
−735−636−635586
−15.4%−30.3%−28.6%19.4%
−179−559−393175
-0.30-0.93-0.430.13

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
6046041,3241,324
−1,396−2,768−4,095−4,071
33,30635,88738,20543,269
11,59814,96113,32314,243
44,11148,68348,75754,764
25,99330,03931,42833,622
11,6752,1894,0995,661
98.3193283238
6,5335,5533,5045,084
−18810,7099,44310,159
44,11148,68348,75754,764

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
2,1993,8803,4434,884
−2,322−5,788−3,673−3,577
1,731467−1,010−1,238
1,608−1,442−1,24068.6
−3,921−4,525−4,129−3,329
−1,722−644−6861,555

Shareholding pattern

Source: NSE filings
67.5%
promoters
  • Promoters67.48%
  • Public32.52%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202667.48%32.52%plus 0.32
30 Jun 202667.16%32.84%plus 0.83
31 Mar 202666.33%33.67%plus 0.09
31 Dec 202566.24%33.76%0.00
30 Sep 202566.24%33.76%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you