Power stocks · Micro cap · NSE
GMR Power and Urban Infra Ltd. operates thermal, hydro, solar, and wind power plants, smart metering projects, highways, and urban infrastructure. It is expanding into renewable energy and EV charging solutions.
SMA20 +6.9% / mo · MACD −
Latest mapped FPI equity flow was not positive. View sector evidence
Adjusted completed-session prices, rebased to 100
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
No classified quarterly result is available yet.
Price trend and sector-relative-strength timing.
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Financial-only signal; management claim evidence is not sufficient yet.
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
No classified quarterly result is available yet. Financial-history charts below may still contain upstream data.
Updated 21/10/2026
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Signals are conflicting — long-term trend down. RSI 50. Wait for confirmation.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
U-Score 40 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Top U-Score contributors and drags from the latest stored fundamentals.
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
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.
12 stored score snapshots. Latest stored move: -1 points.
Business-comparable peers in Power — 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.
Growth engines, risks, management commitments and evidence-backed delivery
Q4FY26 consolidated total income rose 11% YoY to INR 20.7bn, driven by smart meter revenue. However, Q4FY26 net profit was a loss of INR 1.1bn vs. profit of INR 1.8bn YoY, impacted by lower Late Payment Surcharge and higher non-cash finance costs. FY26 PAT declined significantly.
While smart metering revenue growth is strong and thermal PLFs are high, overall profitability is under pressure. The significant decline in FY26 reported PAT and Q4FY26 loss, even with adjustments, raises concerns about core earnings power. Debt management is ongoing.
Latest issuer-disclosed distribution across 4 reported categories.
Smart meter revenue contributed INR 5.2bn in Q4FY26, up from INR 1.5bn in Q4FY25, and INR 4.3bn in Q3FY25.
Incorporated two subsidiaries, GMR Karnataka Renewable Energy-I Limited and GMR Andhra Pradesh Renewable Energy-I Limited, to explore renewable energy opportunities.
Warora and Kamalanga achieved PLFs of 91% and 92% respectively in Q4FY26, significantly above the All India Private IPP average of ~71.47%.
1,650 MW operational, 350 MW under-development.
1,425 MW under-development.
31 MW operational, 10 MW under-development.
Advanced Metering Infrastructure Project for 7.57 Mn Smart Meters with a contract value of ~INR 75.9bn across 22 districts in UP.
Warora and Kamalanga PLFs of 91% and 92% in Q4FY26 exceed the All India Private IPP average of ~71.47%.
Smart meter revenue increased from INR 1.5bn in Q4FY25 to INR 5.2bn in Q4FY26, driving consolidated total income growth.
Warora's Q4FY26 total income increased 7% YoY due to higher average realized tariffs.
Consolidated total income YoY increase was partially offset by a decline in coal trading revenue.
Attributable to realization of overdue receivables of Haryana Discom, impacting Kamalanga's other income and EBITDA.
Traffic in Ambala Chandigarh toll road project fell 13.3% YoY in Q4FY26.
Q4FY26 Net Profit After Tax was a loss of INR 1.1bn vs profit of INR 1.8bn in Q4FY25. FY26 PAT declined to INR 5.9bn from INR 17.4bn in FY25.
Net Debt increased by INR 0.8bn QoQ, mainly on account of interest payments, despite a decrease in Gross Debt.
Other Finance Cost (Non-Cash) was INR 579mn in Q4FY26, up from INR 209mn in Q3FY26, contributing to the reported loss.
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Both YoY and QoQ comparisons are crucial. YoY highlights annual trends and the impact of new business lines like smart metering. QoQ shows sequential momentum, especially for smart meter installations and power plant utilization.
Q4FY26: 91% (vs Q4FY25: 93%); FY26: 85% (vs FY25: 85%).
Q4FY26: 92% (vs Q4FY25: 92%); FY26: 87% (vs FY25: 86%).
Q4FY26: ~71.47%.
~39 lakh smart meters installed across all project areas as of 30 Apr’26.
GMR Energy Limited acquired an additional 2.37% stake in GMR Kamalanga Energy Limited, increasing its ownership to 100%.
Allotted ~66.18mn equity shares for ~INR 8bn and ~33.09mn warrants for ~INR 1bn, with warrants convertible within 18 months for an additional ~INR 3bn.
Incorporated two new subsidiaries to explore business opportunities in renewable energy.
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Smart Meter Installations | ~39 lakh meters installed as of 30 Apr’26. | Pace of installation and revenue contribution from the 7.57 Mn smart meter contract. |
| Thermal Power Plant PLF | Warora 91%, Kamalanga 92% in Q4FY26. | Sustained high utilization rates and any changes in realized tariffs. |
| Consolidated Net Debt | INR 91.6bn as of 31 Mar’26. | Trends in net debt, especially given the QoQ increase due to interest payments, and impact of warrant conversion. |
| Profitability (PAT ex-exceptional items) | Q4FY26 adjusted loss of INR 557mn; FY26 adjusted PAT of INR 1.9bn (Kamalanga) and INR 1.9bn (Warora). | Improvement in core profitability and reduction in losses, particularly in Q4. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 3rd percentile of the scored universe and 4th percentile within Power. Main check: balance sheet trust is weak at 8/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
overall median 67 · Power: 4th pctile, median 65 · Micro: 1st pctile, median 73
38 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
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.
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Latest exchange and company disclosures found within the past two years.
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