GMR AIRPORTS LIMITED (GMRAIRPORT) Financial Results — Revenue ₹1520000.00 L Cr

1 Financial Results 🔴 High Importance Neutral 📄 PDF

📢 Key Event
GMR Airports posted FY26 net profit of INR 4.7bn after a INR 8.2bn loss in FY25, with EBITDA rising 47% YoY to INR 62bn.

🔄 What Changed
Net profit turned positive from a INR 8.2bn loss in FY25; EBITDA grew 47% YoY to INR 62bn; debt refinancing reduced interest costs by over 150bps.

🔮 What's Next
Bhogapuram Airport targeting Q2FY27 operationalization; cargo terminal upgrade awarded at Delhi Airport; new MRO agreement with Boeing Defence India.

💡 Investor Takeaway
Profitability improved significantly with strong EBITDA growth and debt cost reduction, though non-aero revenue growth remains muted.

GMR Airports reported FY26 net profit of INR 4.7bn after a INR 8.2bn loss in FY25, driven by INR 62bn EBITDA (+47% YoY) and record passenger traffic of 121.6 million. Delhi Airport achieved 65% EBITDA margin with 178% YoY aero revenue growth from Terminal 3 expansions and luxury retail additions, while cargo volumes rose 28.2% at Mopa. The company refinanced INR 21bn of debt to cut interest costs by over 150bps and secured LEED Platinum certifications for sustainability. Strategic wins include cargo terminal upgrades and new MRO agreements, supporting long-term growth in non-aero revenues and global rankings.

2 Financial Results 🔴 High Importance Neutral 📄 PDF

Revenue: ₹15,201 CrNet Profit: ₹472 Cr

📢 Key Event
GMR Airports posted FY26 revenue of INR 15,201 Crs, up 40% YoY, with PAT turning positive at INR 472 Crs.

🔄 What Changed
Revenue grew 40% YoY to INR 15,201 Crs; EBITDA rose 47% YoY to INR 6,150 Crs; PAT turned positive at INR 472 Crs; interim dividend of INR 7.5/share declared; debt refinanced via INR 21bn NCDs saving over 150bps; CRISIL outlook upgraded to Positive.

🔮 What's Next
Operationalize Bhogapuram airport by Q2FY27; expand cargo capacity at Hyderabad to 100,000 mtpa; launch luxury retail and F&B at Delhi Terminal 3; continue international expansion via Medan and Crete; target sustained passenger growth and ESG leadership.

💡 Investor Takeaway
Strong revenue and profit growth, record traffic, and debt refinancing improve financial health and shareholder returns.

GMR Airports reported a 40% YoY rise in consolidated revenue to INR 15,201 Crs for FY26, with EBITDA up 47% to INR 6,150 Crs and PAT turning positive at INR 472 Crs, the first in over a decade. Delhi and Hyderabad airports recorded record passenger traffic and EBITDA, while Mopa handled 5.4 million passengers. The company declared an interim dividend of INR 7.5 per share and refinanced debt via INR 21bn NCDs, cutting interest costs by over 150bps. CRISIL upgraded its outlook to Positive. Awards included Skytrax Best Airport in India and South Asia for Delhi and Hyderabad, and ESG milestones like IGBC Platinum for GMR Aerocity.

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