IRB Infra Reports A 36% Jump In Toll Collection For January 2023

IRB Infrastructure Developers, a major participant in highway infrastructure, reported a 36% YoY rise in toll collection in January of this year. The company recorded atoll collection at ₹374.81 crores as opposed to ₹276.44 crores in the same month the previous year, according to an exchange filing.

Virendra D Mhaiskar, chairman and MD, IRB Infrastructure, said that the consistently robust growth in toll revenue across all projects over last year reflects economic stability that the country has achieved post-pandemic and these corridors are playing a vital role in it.

IRB Infra set the record for the division of the company's equity shares earlier this week. The board has established February 22 as the record date for evaluating the eligibility of shareholders for stock split. The shares will be divided at a 10:1 ratio. IRB Infra will divide its one equity share into ten equity shares as a result. Each share now has a face value of Rs. 10. The face value of each share will be decreased to Re 1 once the split goes into effect.

IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India. The shares of IRB Infra closed today on the NSE at ₹288.95 apiece level, up by 2.45% from the previous close of ₹282.05. The stock recorded a net volume average of 1,731,933 shares and a delivery volume average of 62,228,353 shares at 35.93% output. In the last 1 year the stock has gained 0.57% and on a YTD basis it has fallen 7.98% so far in 2023. 

The stock touched a 52-week-high of ₹329.40 on (14-Dec-2022) and a 52-week-low of ₹178.90 on (20-Jun-2022), indicating that at the current market price the stock is trading 12.27% below the 1-year high and 61.51% above the 1 year low. For the quarter ended December 2022, the company posted a promoter shareholding of 34.20%, FIIs stake of 48.58%, DIIs stake of 6.71%, Govt stake of 0.01% and a public stake of 10.50%.