GPT Infraprojects Ltd

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.

GPT Infraprojects Ltd trades at ₹119, in a confirmed uptrend and 7 weeks into that stage. That is +1.7% against its own 200-day average. It sits at 53% of a 52-week range of ₹101 to ₹134. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).

Today the stock is in a confirmed uptrend — week 7 of stage 2, confirmed. At ₹119 it trades +1.7% versus its 200-day average and sits at 53% of its 52-week range (₹101–₹134).

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +354% while the NIFTY 500 moved +282% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-10) — 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.

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.

GPT Infraprojects Ltd trades at 15.2× P/E, mid-range by its own standards (54th percentile). Its long-run median P/E is 14.7×, measured across 10.4 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 15.2× is mid-range by its own standards (54th percentile), against a long-run median of 14.7× measured over 10.4 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 +21.5% against a −6.8% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +37.6%/yr price move, ~+34.6%/yr came from earnings growth and ~+3.0 pp from the multiple (expanding); over 10y, of the +14.8%/yr price move, ~+22.6%/yr came from earnings growth and ~−7.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

Stage: Topping out 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).

GPT Infraprojects Ltd reads as topping out on its fundamental arc. Topping out — revenue, profit and EPS growth have decelerated hard (revenue growth +16.7% at its peak → +1.6% latest) while ROCE still reads 21.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Why it matters: decelerating from a peak is where good stories quietly end — the multiple usually notices late.

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.

4-Factor Sector Score

63.3/100 — rank 2 of 6 in Cement Products · 78% evidence confidence

GPT Infraprojects Ltd scores 63.3 out of 100 against the 6 companies it is compared with in Cement Products, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 18.9 + 19.8 + 9.8 + 14.8 = 63.3. 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.

GPT Infraprojects Ltd reported ₹302 Cr of revenue in the Jun 26 quarter, −3.5% year on year. Over 10 years it has compounded at 9.9% a year. The last full year, FY26, came in at ₹1,290 Cr. The last four reported quarters add to ₹1,280 Cr.

FY26 revenue came in at ₹1,290 Cr (+8.6% on the year), capping 10 years at 9.9% compound. The latest quarter (Jun 26) printed ₹302 Cr, −3.5% year on year.

Pace check: the last four quarters averaged +1.1% growth against the decade's 9.9% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +1.6% over the last 4 quarters against +11.7%/yr over the last 8 — rolling over; TTM profit +14.5% vs +25.8%/yr — rolling over.

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.

GPT Infraprojects Ltd's operating margin is 16.0% in the Jun 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 11.0% to 15.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 16.0%, +4.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 11.0%–15.0%.

Why the margin moved: operating margin went +3.9 pp year on year while gross margin went −4.6 pp — the gain came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

GPT Infraprojects Ltd earned ₹24.0 Cr of net profit in the Jun 26 quarter, −4.0% year on year. Full-year FY26 profit was ₹97.0 Cr. The 10-year compound rate is 22.3%. That is 7.9% of the quarter's revenue. The same quarter a year earlier earned ₹25.0 Cr.

Jun 26 profit was ₹24.0 Cr, −4.0% year on year. On the full year, FY26 printed ₹97.0 Cr (+31.1%), and the 10-year compound rate is 22.3%.

🚨 Why profit moved: revenue contributed −3.5% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +16.9% vs revenue +1.1%. 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.

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 91% of GPT Infraprojects Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹64.0 Cr of operating cash against ₹97.0 Cr of profit. After ₹188 Cr of capital spending, ₹−124 Cr was left as free cash.

FY26: operating cash of ₹64.0 Cr against reported profit of ₹97.0 Cr, leaving free cash of ₹−124 Cr after ₹188 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 91% 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 91%: the cash cycle stretched 177 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 4.2× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

GPT Infraprojects Ltd's cash conversion cycle runs 36 days in FY26, up from −141 days in FY21. Capital spending ran ₹254 Cr over the last 3 years. At FY26 sales of ₹1,290 Cr each day of that cycle holds about ₹3.5 Cr, so roughly ₹127 Cr sits inside the business at any moment.

FY26: debtors at 36 days, inventory at 119 days — roughly 3.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 36 days, looser than FY21's −141.

The full loop: cash goes out to suppliers and production on day 0; stock waits 119 days to sell; customers pay about 36 days after that; and suppliers themselves are paid at 241 days — netting out to the 36-day cycle.

In money terms: at FY26 sales of ₹1,290 Cr, each day of the cycle holds about ₹3.5 Cr — so the 36-day loop keeps roughly ₹127 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹254 Cr over the last 3 fiscal years against ₹60.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹3.0 Cr (FY26) — 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.

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.⚠ unverified

GPT Infraprojects Ltd earns a ROCE of 21% in FY26. That is up from a trough of 11% in FY14. Return on invested capital clears the cost of that capital by +1.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 7.5% net margin on 0.95× asset turns.

FY26 ROCE is 21%, recovered from a FY14 trough of 11% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 7.5% net margin × 0.95× asset turns × 2.25× balance-sheet leverage ≈ 16.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 13.3% − 12.0% = a +1.3 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. Positive but thin — value creation with little room for error.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

GPT Infraprojects Ltd carries total debt of ₹294 Cr against shareholder equity of ₹591 Cr as of Mar 26, a debt-to-equity of 0.50. On the annual view that ratio went from 1.02 in FY22 to 0.50 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹294 Cr against shareholder equity of ₹591 Cr — a debt-to-equity of 0.50. On the annual view, debt-to-equity went from 1.02 (FY22) to 0.50 (FY26). Read the returns on this page with that leverage in mind.

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 5.6 points of GPT Infraprojects Ltd over 8 quarters, the biggest move on the register. That takes promoters to 69.4% of the company. Domestic institutions moved +2.5 points over the same window, to 7.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −5.6 points over 8 quarters to 69.4%; Domestic institutions: +2.5 points over 8 quarters to 7.0%; Foreign institutions: +2.1 points over 8 quarters to 3.0%.

🚨 Why the register moved: promoters drove it (−5.6 points), absorbed on the other side by domestic institutions (+2.5 points) — distribution into the market’s bid.

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.

GPT Infraprojects 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.

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