GMR Airports Infrastructure Ltd (GMRINFRA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of GMR Airports Infrastructure Ltd ₹18.95, price ₹93.66, upside -79.8%, quality 21 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹20.66 – ₹113.55 · fair‑value band ₹7.47 – ₹30.41 · the ₹93.66 price screens above the ₹18.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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GMR Airports Limited operates and develops airports in India. It is also involved in operation of international airports on build, own, operate, and transfer basis. The company was formerly known as GMR Airports Infrastructure Limited and changed its name to GMR Airports Limited in September 2024.
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GMR Airports Limited operates and develops airports in India. It is also involved in operation of international airports on build, own, operate, and transfer basis. The company was formerly known as GMR Airports Infrastructure Limited and changed its name to GMR Airports Limited in September 2024. GMR Airports Limited was incorporated in 1996 and is based in New Delhi, India.
Stock analysis
GMR Airports Infrastructure Ltd (GMRINFRA) currently trades at ₹93.66, while our model-based Fair Value estimate is ₹18.95, 79.8% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 7 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: ₹7.47 (bear) to ₹30.41 (bull), the price of ₹93.66 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 21/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
GMR Airports Infrastructure Ltd reported revenue of ₹104B in FY2025 versus ₹35.7B in FY2021, a compound +30.7%/yr. Reported net income was −₹3.9B in FY2025.
Key figures
Market cap ₹989B (≈ $10.3B) · P/S ratio 9.38 · EPS (TTM) ₹−1.27 · Dividend yield 0.1% · Net margin −3.8% · Return on equity −1,671% · Return on assets (EBIT) 2.7% · Operating margin 15.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 18% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −80%, GMRINFRA screens richer than that median.
Fair Value models
Bear ₹7.47Fair Value ₹18.95Bull ₹30.41
Price ₹93.66 · Upside -79.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.15/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+19.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+31.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2020 (pandemic). Over 10 years: −0.6% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
9.5% (2020) → 23.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare GMR Airports Infrastructure Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airports & Air Services · 52 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score21 · Bottom 25%
Fair Value upside−79.8% · Bottom 25%
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets2.1% · Bottom 25%
Net margin (TTM)−9.0% · Bottom 25%
Operating margin (TTM)15.7% · Below median
Growth and dividend
Revenue growth20.9% · Top 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)0.11× · Cheapest 25%
EV/EBITDA10.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)100· sector 26
PAST (return on equity)0· sector 45
HEALTH (low debt)0· sector 85
DIVIDEND (yield)2· sector 65
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is GMR Airports Infrastructure Ltd (GMRINFRA) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹18.95 versus a price of ₹93.66, about −80% upside (overvalued).
What is the fair value of GMRINFRA?
Our model-based fair value for GMR Airports Infrastructure Ltd is ₹18.95 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹93.66.
What is the quality score of GMRINFRA?
GMR Airports Infrastructure Ltd has a Quality Score of 21/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GMR Airports Infrastructure Ltd (GMRINFRA)?
Our model-based price target is the fair value of ₹18.95 (as of Sep 27, 2026) from 4 valuation models. Cautious scenario ₹7.47, optimistic scenario ₹30.41. It is a calculation from audited fundamentals, not an analyst target.
What is the GMR Airports Infrastructure Ltd stock forecast for 2026?
Our models put fair value at ₹18.95, about −80% upside versus a price of ₹93.66 (overvalued). Cautious scenario ₹7.47, optimistic scenario ₹30.41. The calculation is refreshed regularly with new filings.
What is the revenue of GMR Airports Infrastructure Ltd (GMRINFRA)?
GMR Airports Infrastructure Ltd reported trailing-twelve-month revenue of about ₹95.7B (latest available figure, as of Sep 27, 2026).
Does GMR Airports Infrastructure Ltd pay a dividend?
GMR Airports Infrastructure Ltd currently shows a dividend yield of about 0.08% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of GMR Airports Infrastructure Ltd (GMRINFRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GMR Airports Infrastructure Ltd it is ₹18.95 per share (as of Sep 27, 2026), against a price of ₹93.66. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is GMR Airports Infrastructure Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, GMRINFRA trades above its calculated fair value: price ₹93.66, fair value ₹18.95, a gap of about −80% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GMRINFRA?
No. The price is what the market pays today (₹93.66); the fair value is what the company's own numbers justify (₹18.95). For GMR Airports Infrastructure Ltd the two are ₹74.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is GMR Airports Infrastructure Ltd worth?
The market values GMR Airports Infrastructure Ltd at about ₹989B (market capitalisation, as of Sep 27, 2026). Per share that is ₹93.66; our models calculate a fair value of ₹18.95 per share.
What do the bullish and bearish scenarios say about GMRINFRA?
Our models span a range for GMR Airports Infrastructure Ltd: cautious scenario ₹7.47, base ₹18.95, optimistic ₹30.41 per share (as of Sep 27, 2026, price ₹93.66). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of GMR Airports Infrastructure Ltd (GMRINFRA)?
Balance-sheet figures for GMR Airports Infrastructure Ltd (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is GMRINFRA from its 52-week high?
GMR Airports Infrastructure Ltd trades at ₹93.66, about 18% below its 52-week high of ₹113.55 and 11% above the low of ₹84.70 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹18.95 is for.
Which stocks are comparable to GMR Airports Infrastructure Ltd?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, Shanghai International Airport Co, Auckland International Airport Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GMR Airports Infrastructure Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price ₹93.66, calculated fair value ₹18.95 (−80%), Quality Score 21/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GMRINFRA calculated?
We run GMR Airports Infrastructure Ltd through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹18.95, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. GMR Airports Infrastructure Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GMR Airports Infrastructure Ltd (GMRINFRA)?
The closing price on Oct 1, 2026 was ₹93.66. Our model-based fair value is ₹18.95, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GMR Airports Infrastructure Ltd right now?
The price sits above even our optimistic bull case (₹30.41). The favourable scenario is already priced in. Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (₹7.47 to ₹30.41). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of GMR Airports Infrastructure Ltd
How large is the market capitalisation of GMR Airports Infrastructure Ltd (GMRINFRA)?
The market capitalisation of GMR Airports Infrastructure Ltd is ₹989B (≈ $10.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GMR Airports Infrastructure Ltd (GMRINFRA)?
The price-to-sales ratio of GMR Airports Infrastructure Ltd is 9.38 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GMR Airports Infrastructure Ltd (GMRINFRA)?
Earnings per share at GMR Airports Infrastructure Ltd are ₹−1.27. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GMR Airports Infrastructure Ltd (GMRINFRA)?
The dividend yield of GMR Airports Infrastructure Ltd is 0.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of GMR Airports Infrastructure Ltd (GMRINFRA)?
The net margin of GMR Airports Infrastructure Ltd is −3.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of GMR Airports Infrastructure Ltd (GMRINFRA)?
The return on equity (ROE) of GMR Airports Infrastructure Ltd is −1,671% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GMR Airports Infrastructure Ltd (GMRINFRA)?
On an EBIT basis the return on assets of GMR Airports Infrastructure Ltd is 2.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GMR Airports Infrastructure Ltd (GMRINFRA)?
The operating margin of GMR Airports Infrastructure Ltd is 15.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GMR Airports Infrastructure Ltd (GMRINFRA)?
Revenue at GMR Airports Infrastructure Ltd is growing +20.9% versus a year earlier (3y avg +31.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does GMR Airports Infrastructure Ltd (GMRINFRA) generate?
The free cash flow of GMR Airports Infrastructure Ltd is −₹6.4B (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does GMR Airports Infrastructure Ltd (GMRINFRA) carry?
The net debt of GMR Airports Infrastructure Ltd is ₹335B (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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