Gayatri Projects Limited (GAYAPROJ)

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Gayatri Projects Limited (GAYAPROJ) · mywealthgrid

About

Gayatri Projects Limited operates in civil construction within India's industrials sector, with a market cap of ₹982.46 Cr. The company has experienced extreme financial volatility over the past year, with net profit swinging from ₹2,157 Cr (Dec 2025) to –₹110 Cr (Mar 2026) to ₹36.78 Cr (Jun 2026), while quarterly revenues have ranged ₹73–505 Cr.

Face value: ₹2

Market cap

₹1,042 Cr

P/E

0.5×

P/B

1.7×

Dividend yield

ROE

336.5%

ROCE

9.1%

Debt / equity

0.51

OPM

-0%

EPS (TTM)

₹44.8

Book value

₹13.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme earnings and revenue volatility: quarterly revenue swung from ₹73 Cr to ₹505 Cr and net profit collapsed from ₹2,157 Cr (Dec 2025) to –₹110 Cr (Mar 2026) to ₹36.78 Cr (Jun 2026); verify if Dec spike reflects one-time gains or whether Mar loss contains one-off charges.
Negative overall operating margin (–0.03%) with most quarters showing low or negative OPM; Dec 2025 OPM of –5.7% and Mar 2026 loss reveal structural profitability challenges despite Jun turnaround to 17.57%.
Project and contract concentration: quarterly revenue swings (₹73–505 Cr) indicate heavy dependence on contract timing and project milestones; verify geographic, customer, and project concentration.
Debt servicing sustainability: D/E of 0.51 combined with Mar 2026 loss of ₹110 Cr and volatile cash generation raises refinancing risk; verify debt maturity, covenant compliance, and cash flow adequacy.

Generated analysis · source review pending

Growth drivers

Jun 2026 returned to profitability (₹36.78 Cr net profit) at 17.57% OPM after Mar quarter loss; verify if this margin is sustainable across the project portfolio.
Revenue recovered from ₹191 Cr (Mar 2026) to ₹228.77 Cr (Jun 2026), signaling demand stabilization; verify if order backlog and pipeline support sustained or higher growth in next quarters.
Promoter shareholding surged from 3.94% (Mar 2026) to 23.56% (Jun 2026) and FII from 1.91% to 17.99%, suggesting insider confidence in recovery trajectory.

Generated analysis · source review pending

2,223 historical price candles were omitted because the exchange source has not been verified.

₹22.40%1Y

Quick read

rule-based

Pros

+Strong return on equity of 46.3% (3-yr avg)
+Profit CAGR of 116.3% over the last 5 years

Cons

−Revenue shrank over the last 5 years (-26.3% a year)
−Low promoter holding of 23.6%

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 45
Growth: 50
Valuation: 73

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,620	3,439	3,901	3,102	1,017	680	450	847
COGS	56	2,746	3,202	3,250	879	563	404	775
Gross profit	1,564	693	699	-148	139	117	46	71
	—	334	263	261	867	-24	43	71
	—	359	436	-409	-728	141	3	0
OPM %	—	10.4%	11.2%	-13.2%	-71.6%	20.8%	0.7%	0%
Depreciation	151	91	85	76	57	49	43	29
Interest	285	337	321	338	306	2	20	18
	13	5	7	-137	-407	-48	184	2,124
Profit before tax	—	-64	38	-961	-1,504	41	124	2,076
Tax	-6	-6	-5	-3	0	0	0	34
Tax %	—	-8.9%	-14.2%	-0.3%	0%	0%	0%	1.6%
	-28	-58	43	-958	-1,504	41	124	2,042
PAT margin %	—	-1.7%	1.1%	-30.9%	-147.9%	6.1%	27.5%	241.1%
EPS (₹)	0.4	-3.1	2.3	-51.2	-80.4	2.2	6.6	109.1
EPS adjusted (₹)	-1.8	-3.1	2.3	-51.2	-80.4	2.2	6.6	109.1
	571.4%	—	0%	—	—	0%	0%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	30	35	37	37	37	37	37	37	37	37	37
Reserves	709	476	973	1,136	873	916	-42	-1,636	-1,593	-1,474	569
	3,092	1,937	2,103	1,981	1,876	1,853	2,741	3,789	3,868	3,628	311
	1,357	1,994	2,148	2,932	2,927	2,964	2,225	1,388	1,095	1,248	1,197
Total equity & liabilities	5,188	4,443	5,261	6,087	5,713	5,770	4,961	3,579	3,408	3,439	2,115
	294	394	419	439	456	392	348	272	223	180	77
CWIP	6	30	6	7	17	29	9	9	9	12	6
Investments	863	978	1,198	1,201	572	565	546	511	363	363	230
	4,026	3,041	3,637	4,440	4,667	4,783	4,057	2,787	2,813	2,884	1,802
Total assets	5,188	4,443	5,261	6,087	5,713	5,770	4,961	3,579	3,408	3,439	2,115

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	96.5%	20.2%	17.9%	-4.8%	13.6%	17.2%	10.2%	8.4%
EBITDA margin %	—	11.2%	11.3%	-12.6%	-71.6%	-0.4%	0.6%	-0%
EBIT margin %	—	8.6%	9.2%	-15%	-77.2%	-7.7%	-9%	-3.5%
PAT margin %	-1.7%	-1.7%	1.1%	-30.9%	-147.9%	6.1%	27.5%	241.1%
Working capital
Receivable days	83	160	142	137	296	481	712	208
Inventory days	1,565	83	93	71	58	96	125	61
Payable days	2,933	145	164	111	185	286	408	146
NWC days	-1,285	98	71	98	169	291	430	123
Leverage
Current ratio	1.03	1.41	1.15	0.79	0.47	0.5	0.53	1.93
Debt to EBITDA	—	4.86	4.19	—	—	—	1,468.85	—
Debt to equity	4.18	2.06	1.94	-561.67	-2.37	-2.49	-2.53	0.51
Interest coverage	-0.5	0.9	1.1	-1.4	-2.4	-6.2	8.5	5.9
Asset turnover	0.31	0.6	0.68	0.63	0.28	0.2	0.13	0.4
Return ratios
Return on assets %	-0.5%	-1%	0.7%	-19.3%	-42%	1.2%	3.6%	96.6%
Return on capital employed %	-3.9%	9.2%	13.8%	-29.5%	285.1%	1.1%	-13.4%	9.1%
Return on equity %	-3.8%	-6.4%	4.5%	19,635.5%	94.1%	-2.7%	-8.6%	336.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	3.94%	23.56%
	3.92%	3.92%	3.92%	3.92%	3.92%	3.92%	1.91%	1.91%	1.91%	1.91%	1.91%	17.99%
	1.07%	1.07%	1.07%	1.07%	1.07%	1.07%	2.75%	2.75%	2.75%	2.75%	2.75%	0.68%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	91.07%	91.07%	91.07%	91.07%	91.07%	91.07%	91.4%	91.4%	91.4%	91.4%	91.4%	57.77%
No. of shareholders	—	—	—	—	—	—	—	—	46,246	45,413	44,165	43,853

Promoter holding up 19.62 percentage points since Sep 2023.

41 deals · 27 Aug 2021 – 17 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Apr 2026	DEEPA BAGLA FINANCIAL CONSULTANTS PRIVATE LIMITED	Bulk	NSE	Buy	10,00,000	₹19.88	₹1.99 Cr
17 Mar 2025	MANKHUSHKAUR SARNA	Bulk	BSE	Buy	28,16,155	₹7.10	₹2.00 Cr
17 Mar 2025	HARJINDERSINGH JASWANTSINGH SARNA	Bulk	BSE	Sell	28,14,234	₹7.10	₹2.00 Cr
14 Aug 2023	ASHJEET SINGH GURBIR SINGH SARNA	Bulk	NSE	Buy	14,65,000	₹6.43	₹0.94 Cr
29 Mar 2023	MANKHUSHKAUR HARJINDERSINGH SARNA	Bulk	BSE	Buy	10,00,000	₹5.17	₹0.52 Cr
29 Mar 2023	HARJINDERSINGH SARNA	Bulk	BSE	Sell	10,00,000	₹5.17	₹0.52 Cr
24 Mar 2023	SYNERGY MONEYCONTROL PRIVATE LIMITED	Bulk	BSE	Sell	15,00,000	₹5.92	₹0.89 Cr
24 Mar 2023	INVENTURE SEJAL REALTORS PRIVATE LIMITED	Bulk	BSE	Buy	15,00,000	₹5.92	₹0.89 Cr
13 Jan 2023	AJAY SURANDRABHAI PATEL	Bulk	BSE	Buy	26,62,406	₹8.26	₹2.20 Cr
13 Jan 2023	VAISHALI AJAY PATEL	Bulk	BSE	Sell	18,86,406	₹8.26	₹1.56 Cr

1–10 of 41

1 / 5

Mr. T. V. Sandeep Kumar ReddyChairperson
Mr. VENKATA SANDEEP KUMAR REDDY TIKKAVARAPUExecutive Director-Chairperson related to Promoter-MD
Mrs. LATHA PAMULANon-Executive - Independent Director
Mr. VENKATA NARAYANA RAO PALURINon-Executive - Independent Director
Mr. VENKATA RAYUDU CHINTALAPUDINon-Executive - Independent Director
Mr. SRINIVAS IDURINon-Executive - Independent Director
Mrs. TIKKAVARAPU SARITA REDDYExecutive Director
Mr. N. Seshagiri RaoChief Financial Officer
Mr. Shashank JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Gayatri Projects Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

3 announcementsExport CSV

29 Sept 2026, 4:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	96.5%	20.2%	17.9%	-4.8%	13.6%	17.2%	10.2%	8.4%
EBITDA margin %	—	11.2%	11.3%	-12.6%	-71.6%	-0.4%	0.6%	-0%
EBIT margin %	—	8.6%	9.2%	-15%	-77.2%	-7.7%	-9%	-3.5%
PAT margin %	-1.7%	-1.7%	1.1%	-30.9%	-147.9%	6.1%	27.5%	241.1%
Working capital
Receivable days	83	160	142	137	296	481	712	208
Inventory days	1,565	83	93	71	58	96	125	61
Payable days	2,933	145	164	111	185	286	408	146
NWC days	-1,285	98	71	98	169	291	430	123
Leverage
Current ratio	1.03	1.41	1.15	0.79	0.47	0.5	0.53	1.93
Debt to EBITDA	—	4.86	4.19	—	—	—	1,468.85	—
Debt to equity	4.18	2.06	1.94	-561.67	-2.37	-2.49	-2.53	0.51
Interest coverage	-0.5	0.9	1.1	-1.4	-2.4	-6.2	8.5	5.9
Asset turnover	0.31	0.6	0.68	0.63	0.28	0.2	0.13	0.4
Return ratios
Return on assets %	-0.5%	-1%	0.7%	-19.3%	-42%	1.2%	3.6%	96.6%
Return on capital employed %	-3.9%	9.2%	13.8%	-29.5%	285.1%	1.1%	-13.4%	9.1%
Return on equity %	-3.8%	-6.4%	4.5%	19,635.5%	94.1%	-2.7%	-8.6%	336.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

Date	Category	Subject	Filing
29 Sept 2026, 4:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Sept 2026, 5:25 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
5 Sept 2026, 1:41 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	470	234	237	516	361	228	-695	-863	-140	277	490
	-663	-34	-42	-90	311	10	211	46	290	1	68
	226	-217	-176	-357	-683	-273	425	819	-139	-69	-782
Net cash flow	32	-17	19	70	-10	-35	-58	1	11	209	-224
Free cash flow	—	—	—	409	—	201	-712	-866	-140	274	486
CFO / Operating profit %	—	—	—	—	93.5%	51.7%	—	—	—	—	—

Gayatri Projects Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

No fund holdings on record

Not in the F&O segment

Announcements

Annual reports

11

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Gayatri Projects Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

No fund holdings on record

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Dividends11

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

11

1

1