The stock has witnessed significant buying activity as it has given multibagger returns of more than 119 per cent in last 3 years.
On July 10, 2023, the shares of IRB Infrastructure Developers Limited zoomed 1.21 per cent. The 52-week high and low are Rs 35 per share and Rs 19.82 per share, respectively on BSE. The current market capitalization of the company is Rs 16,093.94 crore.
As the market concluded, both the Sensex and Nifty recorded gains, with the Sensex trading higher by 0.26 per cent and the Nifty up by 0.28 per cent.
Today, the company released its toll revenue figures for June 2023, encompassing both its subsidiaries and joint venture entities. Details as follows:
IRB Infrastructure Developers Limited and its private InvIT, IRB Infrastructure Trust, reported a noteworthy 16 per cent increase in toll revenue for June. The revenue surged to Rs 383 crore, surpassing the previous year’s figure of Rs 329 crore during the same month.
During Q1 FY24, the combined toll revenue of both entities reached an impressive Rs 1,183 crore, an increase of 18 per cent compared to the corresponding quarter of FY23, where the revenue stood at Rs 1,000 crore.
“The first quarter of FY24 looks much positive as an upward trend is seen in aggregate toll revenue as compared to the corresponding quarter of the last fiscal. We expect similar momentum for the rest of FY24,” said Amitabh Murarka, Deputy Chief Executive Officer, IRB Infrastructure Developers Limited.
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is a pioneering player in India’s highways segment, known as the country’s first integrated infrastructure company in this domain. With an asset base exceeding Rs. 70,000 Crs. across the parent company and two InvITs, IRB holds the distinction of being the largest integrated private toll roads and highways infrastructure developer in India. Its portfolio encompasses the construction, tolling, operation, and maintenance of approximately 17,200 lane Kms throughout the country.
IRB approx. has 20 per cent share in India’s prestigious Golden Quadrilateral project, making it the leading private infrastructure developer in this regard. Additionally, the group holds a commanding 37 per cent market share in the TOT (Toll-Operate-Transfer) space.
DSIJ offers a service ‘multibagger Pick” with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
During Q4FY23, the company witnessed a growth of 7 per cent in net sales, amounting to Rs 1,620 crore compared to the corresponding quarter last year. However, the net profit experienced a slight decline of 7.80 per cent to Rs 130 crore in FY22.
For the financial year FY23, the net sales increased by 10.30 per cent to Rs 6,402 crore, while the net profit surged by an impressive 99.44 per cent to Rs 720 crore compared to FY22. These financial figures reflect the company’s continued growth and improved profitability over period.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 119 per cent in last 3 years. Investors to keep close eye on this trending stock.