Giriraj Civil Developers Ltd
GIRIRAJGiriraj Civil Developers Ltd's earnings have outrun its stock. EPS grew +76.6% in a year against a −28.4% price move.
The sharpest disagreement: profits are rising, but only −134% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a downtrend (20 weeks in) while the P/E sits at the 12th percentile of its own 3-year range. Underneath, the last four quarters read improving — profit +133.3% year on year, and −134% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Giriraj Civil Developers Ltd trades at ₹190, in a downtrend and 20 weeks into that stage. That is −16.3% against its own 200-day average. It sits at 31% of a 52-week range of ₹107 to ₹375. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks.
Today the stock is in a downtrend — week 20 of stage 4, confirmed. At ₹190 it trades −16.3% versus its 200-day average and sits at 31% of its 52-week range (₹107–₹375).
Against the market, two honest reads. Cumulative: over the last 8.0 years the stock moved +831% while the NIFTY 500 moved +127% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 6 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 12th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Giriraj Civil Developers Ltd trades at 21.1× P/E, near the bottom of its own range — cheaper only 12% of the time. Its long-run median P/E is 88.5×, measured across 2.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 21.1× is near the bottom of its own range — cheaper only 12% of the time, against a long-run median of 88.5× measured over 2.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +76.6% against a −28.4% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Giriraj Civil Developers Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from +0.0% at the trough to +133.3% off a 5-quarter-old trough (single-quarter readings), ROCE lifting at 20.0%. The read is built from 11 quarters across 3 curves, on partial evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +80.5% | +55.8% | +67.2% | +20.2% |
| Profit | +80.0% | +65.1% | +78.3% | +24.6% |
| EPS | +76.6% | +47.2% | +63.5% | +12.7% |
| Share price | −28.4% | +75.4% | +63.2% | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
52.2/100 — rank 17 of 17 in Infra - Construction & Contracting · 44% evidence confidence · provisional, ranked below fully-evidenced peers
Giriraj Civil Developers Ltd scores 52.2 out of 100 against the 17 companies it is compared with in Infra - Construction & Contracting, ranking 17. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 21.5 + 15.7 + 10.4 + 4.6 = 52.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Giriraj Civil Developers Ltd reported ₹141 Cr of revenue in the Sep 25 quarter, +76.3% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 20.2% a year. The last full year, FY25, came in at ₹314 Cr. The last four reported quarters add to ₹548 Cr.
Giriraj Civil Developers Ltd reported ₹141 Cr of revenue in the Sep 25 quarter, +76.3% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 20.2% a year. The last full year, FY25, came in at ₹314 Cr. The last four reported quarters add to ₹548 Cr.
FY25 revenue came in at ₹314 Cr (+80.5% on the year), capping 10 years at 20.2% compound. The latest quarter (Sep 25) printed ₹141 Cr, +76.3% year on year — the 6th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +82.3% growth against the decade's 20.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +174.0% over the last 4 quarters against +113.7%/yr over the last 8 — accelerating; TTM profit +277.8% vs +138.0%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 8.0% this quarter (+2.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Giriraj Civil Developers Ltd's operating margin is 8.0% in the Sep 25 quarter, +2.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +0.0 percentage points. Across 12 fiscal years the operating margin has ranged 6.0% to 28.0%. The current quarter sits inside that band.
Giriraj Civil Developers Ltd's operating margin is 8.0% in the Sep 25 quarter, +2.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +0.0 percentage points. Across 12 fiscal years the operating margin has ranged 6.0% to 28.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 8.0%, +2.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 6.0%–28.0%.
Why the margin moved: operating margin went +1.8 pp year on year while gross margin went +3.8 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +133.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Giriraj Civil Developers Ltd earned ₹7.0 Cr of net profit in the Sep 25 quarter, +133.3% year on year. It is the 4th consecutive quarter of growth. Full-year FY25 profit was ₹18.0 Cr. The 10-year compound rate is 24.6%. That is 5.0% of the quarter's revenue. The same quarter a year earlier earned ₹2.0 Cr.
Giriraj Civil Developers Ltd earned ₹7.0 Cr of net profit in the Sep 25 quarter, +133.3% year on year. It is the 4th consecutive quarter of growth. Full-year FY25 profit was ₹18.0 Cr. The 10-year compound rate is 24.6%. That is 5.0% of the quarter's revenue. The same quarter a year earlier earned ₹2.0 Cr.
Sep 25 profit was ₹7.0 Cr, +133.3% year on year — the 4th consecutive quarter of growth. On the full year, FY25 printed ₹18.0 Cr (+80.0%), and the 10-year compound rate is 24.6%.
Why profit moved: revenue contributed +76.3% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +112.5% vs revenue +82.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: −134% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −134% of Giriraj Civil Developers Ltd's reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹−5.0 Cr of operating cash against ₹18.0 Cr of profit. After ₹3.0 Cr of capital spending, ₹−8.0 Cr was left as free cash.
FY25: operating cash of ₹−5.0 Cr against reported profit of ₹18.0 Cr, leaving free cash of ₹−8.0 Cr after ₹3.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −134% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −134%: the cash cycle tightened 195 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 6.5× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹13.0 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Giriraj Civil Developers Ltd's cash conversion cycle runs 107 days in FY25, down from 302 days in FY20. Capital spending ran ₹13.0 Cr over the last 3 years. At FY25 sales of ₹314 Cr each day of that cycle holds about ₹0.9 Cr, so roughly ₹92.0 Cr sits inside the business at any moment.
FY25: debtors at 77 days, inventory at 115 days — roughly 3.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 107 days, tighter than FY20's 302.
The full loop: cash goes out to suppliers and production on day 0; stock waits 115 days to sell; customers pay about 77 days after that; and suppliers themselves are paid at 85 days — netting out to the 107-day cycle.
In money terms: at FY25 sales of ₹314 Cr, each day of the cycle holds about ₹0.9 Cr — so the 107-day loop keeps roughly ₹92.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹13.0 Cr over the last 3 fiscal years against ₹2.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY25) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 20% and the ROIC − WACC spread is −2.0 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Giriraj Civil Developers Ltd earns a ROCE of 20% in FY25. That is up from a trough of 7% in FY20. Return on invested capital clears the cost of that capital by −2.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.7% net margin on 1.03× asset turns.
FY25 ROCE is 20%, recovered from a FY20 trough of 7% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY25): 5.7% net margin × 1.03× asset turns × 2.32× balance-sheet leverage ≈ 13.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 10.0% − 12.0% = a −2.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.19.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Giriraj Civil Developers Ltd carries ₹25.0 Cr of borrowings against ₹131 Cr of equity in FY25, a debt-to-equity of 0.19. Operating profit covers the interest bill 8×. Over 5 years borrowings went from ₹18.0 Cr to ₹25.0 Cr. Capital spending ran ₹13.0 Cr across the last 3 of those years.
FY25: borrowings of ₹25.0 Cr against equity of ₹131 Cr — a debt-to-equity of 0.19. Operating profit covers the interest bill 8×. Over 5 years borrowings went from ₹18.0 Cr to ₹25.0 Cr while capital spending ran ₹13.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 13.1 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 13.1 points of Giriraj Civil Developers Ltd over 8 quarters, the biggest move on the register. That takes promoters to 51.1% of the company. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −13.1 points over 8 quarters to 51.1%.
🚨 Why the register moved: promoters drove it (−13.1 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Giriraj Civil Developers Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Giriraj Civil Developers Ltd this page | 21.1× | ₹454 Cr | Turning around | |||
| Larsen & Toubro Ltd | 31.7× | ₹5.2L Cr | Mixed | |||
| Rail Vikas Nigam Ltd | 53.5× | ₹46,815 Cr | Mixed | |||
| NBCC (India) Ltd | 38.3× | ₹25,337 Cr | Mixed | |||
| Cemindia Projects Ltd | 42.1× | ₹24,755 Cr | Consistent | |||
| IRB Infrastructure Developers Ltd | 26.9× | ₹23,685 Cr | Mixed | |||
| PNC Infratech Ltd | 13.6× | ₹6,111 Cr | Turning around | |||
| Hindustan Construction Company Ltd | 40.8× | ₹5,614 Cr | No read | |||
| H.G. Infra Engineering Ltd | 11.8× | ₹3,499 Cr | Mixed | |||
| KNR Constructions Ltd | 7.8× | ₹3,409 Cr | Improving | |||
| Patel Engineering Ltd | 7.0× | ₹2,780 Cr | Turning around | |||
| Ramky Infrastructure Ltd | 11.3× | ₹2,568 Cr | Improving | |||
| Simplex Infrastructures Ltd | 48.0× | ₹1,892 Cr | No read | |||
| SPML Infra Ltd | 22.6× | ₹1,692 Cr | No read | |||
| Likhitha Infrastructure Ltd | 22.8× | ₹894 Cr | Deteriorating | |||
| Hazoor Multi Projects Ltd | 26.7× | ₹723 Cr | No read | |||
| Hazoor Multi Projects Ltd | 13.9× | ₹595 Cr | No read | |||
| Vishnu Prakash R Punglia Ltd | 59.9× | ₹412 Cr | Deteriorating |
Frequently asked questions
What is Giriraj Civil Developers Ltd's share price today?
Giriraj Civil Developers Ltd trades at ₹190, −28.4% over the past year. The company is valued at ₹454 Cr. The stock sits at 31% of its 52-week range of ₹107–₹375, −16.3% versus its 200-day average. On the tape, the price is in a downtrend, 20 weeks in. — as of 24 July 2026.
What were Giriraj Civil Developers Ltd's latest quarterly results?
Giriraj Civil Developers Ltd reported revenue of ₹141 Cr and net profit of ₹7.0 Cr for the Sep 25 quarter. Revenue rose 76.3% and profit rose 133.3% year on year. Earnings per share were ₹2.76. The operating margin was 8.0%, 2.0 pp higher than a year earlier. — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's revenue?
Giriraj Civil Developers Ltd reported revenue of ₹141 Cr in the Sep 25 quarter, +76.3% year on year. For the full FY25 fiscal year, revenue was ₹314 Cr (+80.5%). Over the last 10 years revenue compounded at 20.2% a year. — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's profit?
Giriraj Civil Developers Ltd earned ₹7.0 Cr of net profit in the Sep 25 quarter, +133.3% year on year — the 4th straight quarter of growth. Full-year FY25 profit was ₹18.0 Cr. The operating margin ran 8.0% in the latest quarter. — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's market cap?
Giriraj Civil Developers Ltd's market capitalisation is ₹454 Cr at a share price of ₹190. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's P/E ratio?
Giriraj Civil Developers Ltd trades at a P/E of 21.1×, at the 12th percentile of its own 3-year range, against a long-run median of 88.5×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Is Giriraj Civil Developers Ltd overvalued?
On its own history, Giriraj Civil Developers Ltd looks cheap against its own history: its P/E of 21.1× has been cheaper only 12% of the time in 3 years (long-run median 88.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Giriraj Civil Developers Ltd growing?
Yes — Giriraj Civil Developers Ltd is growing: latest-quarter revenue +76.3% year on year, profit +133.3%, and the margin +2.0 pp at 8.0%. The 10-year compound rates are 20.2% (revenue) and 24.6% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Giriraj Civil Developers Ltd performing?
Giriraj Civil Developers Ltd is in a downtrend, 20 weeks in. Its latest quarter's revenue rose 76.3% and profit rose 133.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Giriraj Civil Developers Ltd in?
Turning around — profit growth swung from +0.0% at the trough to +133.3% off a 5-quarter-old trough (single-quarter readings), ROCE lifting at 20.0%. The read comes from the last 12 quarters of growth (revenue growth +76.3% latest, profit growth +133.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Giriraj Civil Developers Ltd in an uptrend?
No — the price is in a downtrend (week 20 of stage 4), trading −16.3% versus its 200-day average and at 31% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Giriraj Civil Developers Ltd beating the market?
On recent form, yes — Giriraj Civil Developers Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 6 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 8.0 years the stock moved +831% against the NIFTY 500's +127% — ahead of the index over the full window. — as of 24 July 2026.
Will Giriraj Civil Developers Ltd's share price go up?
This page publishes no price forecast for Giriraj Civil Developers Ltd. What it measures instead: the share price is ₹190, the price is in a downtrend 20 weeks in. Its P/E of 21.1× sits at the 12th percentile of its own 3-year range. — as of 24 July 2026.
Who owns Giriraj Civil Developers Ltd?
Promoters hold 51.1% of Giriraj Civil Developers Ltd, foreign institutions null%, domestic institutions null% and the public 48.9% (latest quarter). The biggest move on the register over the last two years: Promoters cut 13.1 points over 8 quarters. — as of 24 July 2026.
Does Giriraj Civil Developers Ltd have too much debt?
No — Giriraj Civil Developers Ltd's debt-to-equity is 0.19, and operating profit covers the interest bill 8×. FY25 borrowings were ₹25.0 Cr against equity of ₹131 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's capex?
Giriraj Civil Developers Ltd spent ₹13.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹3.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Giriraj Civil Developers Ltd's cash flow?
Giriraj Civil Developers Ltd generated ₹−5.0 Cr of operating cash flow in FY25 and ₹−8.0 Cr of free cash flow after ₹3.0 Cr of capital spending. Reported profit that year was ₹18.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Giriraj Civil Developers Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −134% of Giriraj Civil Developers Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹−5.0 Cr against reported profit of ₹18.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Giriraj Civil Developers Ltd in its business cycle?
Giriraj Civil Developers Ltd's FY25 operating margin was 8.0%, against a 12-year band of 6.0%–28.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 8.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Giriraj Civil Developers Ltd story?
The sharpest disagreement: profits are rising, but only −134% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Giriraj Civil Developers Ltd a stock worth studying right now?
This is not investment advice. The machine read: Giriraj Civil Developers Ltd's earnings have outrun its stock. EPS grew +76.6% in a year against a −28.4% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.