GMR Airports Limited

NSEI:GMRAIRPORT Stock Report

Market Cap: ₹885.9b

GMR Airports Valuation

Is GMRAIRPORT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GMRAIRPORT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GMRAIRPORT (₹83.44) is trading below our estimate of fair value (₹134.98)

Significantly Below Fair Value: GMRAIRPORT is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GMRAIRPORT?

Key metric: As GMRAIRPORT is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GMRAIRPORT. This is calculated by dividing GMRAIRPORT's market cap by their current revenue.
What is GMRAIRPORT's PS Ratio?
PS Ratio9.2x
Sales₹95.71b
Market Cap₹885.90b

Price to Sales Ratio vs Peers

How does GMRAIRPORT's PS Ratio compare to its peers?

The above table shows the PS ratio for GMRAIRPORT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.2x
DREAMFOLKS Dreamfolks Services
1.8x15.3%₹21.5b
JSWINFRA JSW Infrastructure
16.1x17.2%₹656.2b
ADANIPORTS Adani Ports and Special Economic Zone
9.6x13.5%₹2.7t
CONCOR Container Corporation of India
5.5x14.3%₹498.8b
GMRAIRPORT GMR Airports
9.2x27.6%₹885.9b

Price-To-Sales vs Peers: GMRAIRPORT is expensive based on its Price-To-Sales Ratio (9.2x) compared to the peer average (8.2x).

Price to Sales Ratio vs Industry

How does GMRAIRPORT's PS Ratio compare vs other companies in the IN Infrastructure Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
JITFINFRA JITF Infralogistics
0.6xn/aUS$223.26m
SADBHIN Sadbhav Infrastructure Project
0.4xn/aUS$32.93m
533427 VMS Industries
0.3xn/aUS$12.92m
No more companies available in this PS range
GMRAIRPORT 9.2xIndustry Avg. 1.8xNo. of Companies5PS03.67.210.814.418+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GMRAIRPORT is expensive based on its Price-To-Sales Ratio (9.2x) compared to the Asian Infrastructure industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is GMRAIRPORT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GMRAIRPORT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio9.2x
Fair PS Ratio11x

Price-To-Sales vs Fair Ratio: GMRAIRPORT is good value based on its Price-To-Sales Ratio (9.2x) compared to the estimated Fair Price-To-Sales Ratio (11x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GMRAIRPORT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹83.44
₹84.33
+1.1%
21.7%₹110.00₹69.00n/a3
Dec ’25₹83.21
₹84.33
+1.3%
21.7%₹110.00₹69.00n/a3
Nov ’25₹79.99
₹84.33
+5.4%
21.7%₹110.00₹69.00n/a3
Oct ’25₹93.93
₹88.33
-6.0%
15.0%₹106.00₹74.00n/a3
Sep ’25₹94.48
₹86.67
-8.3%
17.5%₹106.00₹69.00n/a3
Aug ’25₹101.52
₹81.33
-19.9%
16.5%₹100.00₹69.00n/a3
Jul ’25₹97.62
₹81.33
-16.7%
16.5%₹100.00₹69.00n/a3
Jun ’25₹84.60
₹79.33
-6.2%
19.4%₹100.00₹63.00n/a3
May ’25₹85.15
₹69.00
-19.0%
8.7%₹75.00₹63.00n/a2
Apr ’25₹83.55
₹68.50
-18.0%
9.5%₹75.00₹62.00n/a2
Mar ’25₹85.55
₹68.50
-19.9%
9.5%₹75.00₹62.00n/a2
Feb ’25₹79.10
₹59.00
-25.4%
6.8%₹63.00₹55.00n/a2
Jan ’25₹80.35
₹59.00
-26.6%
6.8%₹63.00₹55.00n/a2
Dec ’24₹60.90
₹59.00
-3.1%
6.8%₹63.00₹55.00₹83.212
Nov ’24₹54.25
₹55.50
+2.3%
0.9%₹56.00₹55.00₹79.992
Oct ’24₹59.55
₹55.00
-7.6%
1.8%₹56.00₹54.00₹93.932
Sep ’24₹62.95
₹54.50
-13.4%
2.8%₹56.00₹53.00₹94.482
Aug ’24₹51.45
₹48.50
-5.7%
1.0%₹49.00₹48.00₹101.522
Jun ’24₹40.80
₹39.00
-4.4%
12.8%₹44.00₹34.00₹84.602
May ’24₹45.65
₹39.50
-13.5%
13.9%₹45.00₹34.00₹85.152
Apr ’24₹40.55
₹39.50
-2.6%
13.9%₹45.00₹34.00₹83.552
Mar ’24₹38.30
₹38.50
+0.5%
11.7%₹43.00₹34.00₹85.552
Feb ’24₹37.55
₹38.50
+2.5%
11.7%₹43.00₹34.00₹79.102
Jan ’24₹39.75
₹38.50
-3.1%
11.7%₹43.00₹34.00₹80.352
Dec ’23₹42.75
₹39.67
-7.2%
10.2%₹43.00₹34.00₹60.903

Analyst Forecast: Target price is less than 20% higher than the current share price.

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