ICICI Direct has given Buy recommendation for GR Infraprojects with a target price of Rs. 1620 in its research report issued on Aug 11, 2022

ICICI Direct’s research report on GR Infraprojects

GR Infraprojects (GRIL) is a leading player in the roads and highways sector having an overall order book size of Rs 17,005.6 crore. The company has delivered 26.6% revenue CAGR during FY16-22, wellcomplemented by 33.6% EBITDA CAGR and 39% PAT CAGR • Prudent management, lean balance sheet position, healthy return ratios.


We assign BUY rating (vs. REDUCE earlier) on the company as asset monetisation through InvIT will boost scalability, ahead. We value GRIL at a target price of Rs 1,620.

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