Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Sep - GMR Airports to meet investors at Jefferies India Forum on September 17-18, 2026.
Source: Bse
GMR AIRPORTS LIMITED (GMRAIRPORT)
Mid CapServices stocks · Mid cap · NSE
GMR Airports Limited operates airports. The provided document is a generic transcript placeholder and contains no specific company information or performance data for the period.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result12 Aug, 07:40 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
21Bearishfull bear SMA stack · SMA20 -3.7% / mo · MACD −
Stock trend: 21
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
GMRAIRPORTD candles · FIT view-4.6%Latest close ₹90.10 on 2026-10-19
Bar
+1.2%
RSI
41
MACD hist
-0.08
52W pos
19%
2026-10-19O ₹89.00H ₹90.45L ₹89.00C ₹90.10Vol 66.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
GMRAIRPORTNifty 500
- GMRAIRPORT
- -19.2%
- Nifty 500
- -5.6%
- Vs Nifty 500
- -13.6 pp
Chart stats
19 Oct 2026- From 52W high
- -22.1%
- 52W range position
- 19%
- ATR (14)
- 2.6%
- Volume vs 20D
- 0.37x
- Avg traded value
- ₹161 Cr
- 20D price channel
- ₹87.7 - ₹101.3
₹115.6
₹84.1 - ₹115.6
₹2.4
Latest completed session
20-session average
31.6% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED31
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average45
Revenue +23.8% · PAT NDF YoY
Technical
Bearish21
Price trend and sector-relative-strength timing.
Valuation
Legacy model-637.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 45/100Rev +24% YoY · margin expansion
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,967 Cr | +23.8% | +0.7% |
| EBITDA | ₹1,450 Cr | +24.5% | +0.3% |
| Operating margin | 37.0% | +100 bps | +0 bps |
| PAT | ₹148 Cr | NDF | -63.0% |
| PAT margin | 3.7% | +800 bps | -643 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 172.00
- P/B
- —
- EV/EBITDA
- 17.84
- Market Cap
- 96450.00Cr
Profitability
- ROE
- —
- ROCE
- 11.60%
- ROA
- 1.39%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 33.00%
- EPS 5Y
- 16.00%
- Revenue 3Y
- 30.00%
- EPS 3Y
- 42.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 1.57×
- Altman Z
- 1.56
- Book Value
- -2.60
Cash Flow
- FCF Yield
- 1.26%
- FCF Positive Y
- 7/5
- OCF
- 4884.00 Cr
- EPS TTM
- 0.46
Shareholding
- Promoter Hold
- 67.16%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 20%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 3,967+0.7% vs prev
Net Profit
₹ CrLatest: 148-63.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 41.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- Recent death cross (SMA50 crossed below SMA200).
- SMA20 falling (~3.8% over last month) — short-term momentum negative.
- RSI(14) at 41 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 22% off 52W high · 7% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth16/25
Quality1/20
Balance Sheet4/15
Cash Flow5/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
31
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
31/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 16/25 to the score.
- Cash flow contributes 5/10 to the score.
Main drags
- Altman Z is 1.6, in distress territory.
- Fair-value margin of safety is negative at -637.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
172.0
PB
—
EV/EBITDA
17.8
ROE
—
ROCE
11.6%
FCF Yield
1.3%
Debt/Equity
0.0
MoS
-637.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
31
Previous: 31
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-637.7%
Previous: -637.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
31
31
31
31
31
31
31
31
31
31
31
31
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
26.6
Growth-justified Value
₹12.21
-637.7% MoS
PEG
6.72
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CONCOR
Mid
Container Corporation of India Limited
Logistics
match 59
34
27.1
9.8%
-2%
WATCHLIST
TVSSCS
Micro
TVS Supply Chain Solutions Limited
Logistics
match 54
32
78.6
9.7%
-213%
WATCHLIST
SHREEJISPG
Small
Shreeji Shipping Global Limited
Logistics
match 54
46
79.5
29.9%
-213%
FAIR VALUE
SBC
Small
SBC Exports Limited
Logistics
match 54
35
74.5
37.2%
-186%
WATCHLIST
PATINTLOG
Small
Patel Integrated Logistics Limited
Logistics
match 54
32
8.7
7.8%
-23%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-13T10:11:32.995Z
Management commentary snapshot
No financial or operational results were disclosed in the provided document.
The provided document is a generic transcript placeholder and contains no specific company information, financial results, or operational data to assess any investment thesis.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The provided document contains no financial or operational data to determine the appropriate comparison basis for GMR Airports Limited.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
macro expectationnot yet verifiablequantified
India's outbound tourism market is forecasted to grow at a CAGR of 12.3% from 2025 until 2033.
Timeframe: 2025 until 2033Direction: growthConfidence: forecasted
"India's outbound tourism market is forecasted to grow at CAGR of 12.3% from 2025 until 2033"
demand outlookdelivered
Delhi Airport traffic should see a pick-up moving ahead, especially in the seasonally strong Q3 and with the winter schedule, now that the runway and upgraded Terminal 2 are fully operational.
Timeframe: moving ahead, seasonally strong quarter, winter scheduleDirection: pick-upConfidence: should see
"we should see a pick-up in traffic moving ahead"
Outcome check: Revenue YoY averaged 50.5% across 1 later quarter(s).
project executionnot yet verifiable
IndiGo will launch daily flights to London and introduce Business Class on key regional routes starting October 2026.
Timeframe: Starting Oct’26Direction: expansionConfidence: will launch
"Starting Oct’26, IndiGo will launch daily flights to London and introduce Business Class"
revenue outlookdelivered
The full quarter impact of GMR Airports taking over Delhi and Hyderabad duty-free and cargo businesses will be seen in Q3.
Timeframe: Q3Direction: improvementConfidence: will be seen
"the full quarter impact will be seen in Q3"
Outcome check: Revenue YoY averaged 50.5% across 1 later quarter(s).
Trust Score
71Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Management has 100% delivered/partly-delivered outcomes on 2 checked claims. It ranks around the 66th percentile of the scored universe and 75th percentile within Services. Main check: balance sheet trust is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
119 docs text-extracted · 12 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Services: 75th pctile, median 66 · Mid: 37th pctile, median 76
Evidence depth
Financial-only
119 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
100% delivered or partly delivered
2/4 claims checked · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
48
watch · leverage and solvency
Discipline
76
strong · capital discipline
Results
67
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 67.2%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.3%.
- ▸7 years of positive FCF.
Trust risks
- ▸Altman Z is 1.56.
- ▸Interest coverage is 1.6x.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching GMR AIRPORTS LIMITED
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment 9 Sep - Allotted 1,50,000 bonds aggregating ₹1,500 crore at 9.56% to refinance existing NCBs.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Issue of Securities 7 Sep - GMR Airports approved issuance of ₹1,500 crore, 5% listed NCBs for up to 36 months refinancing.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.