Aviation revenue share: 65%
Non-aviation revenue share: 35%

TOP 3 Markets:

1. India: 55%
2. Southeast Asia: 25%
3. Middle East: 20%

GMR Airports Limited generates the majority of its revenue from the aviation industry, accounting for approximately 65% of total revenue. This includes income from airport operations, landing fees, and passenger services. The non-aviation revenue, making up 35%, comes from retail spaces, parking fees, and other services within the airports.

The Indian market is the largest revenue contributor for GMR Airports, attributed to its strong presence and growth in the domestic market. Southeast Asia and the Middle East follow as important markets, strengthened by strategic partnerships and expansions in these regions.

Production Sites: No specific production sites, as GMR Airports Limited primarily operates in the service sector.

GMR Airports Limited is a company specializing in the operation and management of airports. It does not produce physical products in the traditional sense, but offers services in airport management. The main activities of the company include the construction, development, and operation of airports. Therefore, the "production sites" are rather the various airports that the company operates and manages worldwide. The most well-known ones include the Indira Gandhi International Airport in Delhi and the Rajiv Gandhi International Airport in Hyderabad.

Strategic Expansion: Expansion of airport capacities and international expansion
Diversification: Development of Non-Aviation business areas
Sustainability: Investments in environmentally friendly technologies

GMR Airports Limited pursues a strategy aimed at expanding its airport capacities to cope with the increasing passenger traffic. This includes both the modernization of existing airports and the development of new locations, especially in high-growth regions.

Another focus is on diversifying their sources of income by expanding Non-Aviation business areas, such as retail and catering at airports, to reduce dependence on traditional aviation revenues.

Furthermore, the company is investing in sustainable technologies and infrastructure to reduce environmental impact and minimize the ecological footprint of their airports. This includes the use of renewable energies and the implementation of energy-efficient systems.

Main Imported Raw Materials/Items: Building and construction materials, technology and security equipment

Countries of Origin: China, Germany, USA

GMR Airports Limited, as an airport operator, mainly imports building and construction materials needed for the expansion and modernization of airport facilities. This includes steel, concrete, and special construction components.

In addition, technology and security equipment are imported, which are essential for the operation and safety of the airports. These materials often come from technologically advanced countries such as China, Germany, and the USA, known for their high-quality products.

The choice of countries of origin is based on the availability of specialized materials and technologies, as well as economic considerations such as costs and delivery times.

Market share in India: Approximately 25% (2024) Passenger growth: 10% (2024) EBITDA margin: 35% (2024)

GMR Airports Limited is one of the leading airport operators in India and holds a significant market share of about 25%. This gives the company a strong competitive advantage, especially in a growing market like India, where air travel demand is steadily increasing.

The company experienced a passenger growth of 10% in 2024, attributed to the rising desire to travel and the recovery of air travel post-pandemic. An EBITDA margin of 35% also indicates an efficient cost structure and strong operational performance.

GMR Airports benefits from long-term concessions and strategic partnerships that further strengthen its position. The competitive advantage is supported by continuous investments in infrastructure and technology, making operations more efficient and attractive to airlines and passengers.

Institutional Investor Share: 42% (estimated, 2025) Insider Buys/Sells: No significant transactions reported in the last year

The institutional investor share in GMR Airports Limited is estimated to be around 42%. This indicates a strong interest from institutional investors in the company, which could suggest confidence in the long-term strategy and growth potential.

No significant insider buys or sells were reported in the last year. This could indicate that the management and other insiders are satisfied with the current valuation of the company or do not expect any significant changes in the company's strategy or valuation.

Market share of GMR Airports Limited: Estimate: approximately 20% (2025)

Main competitors and their market shares:

1. Adani Airports Holdings Limited: around 25%
2. Airports Authority of India: around 22%
3. Bangalore International Airport Limited: around 15%
4. Mumbai International Airport Limited: around 10%
5. Hyderabad International Airport Limited: around 8%

GMR Airports Limited is one of the leading operators in the Indian airport market. The market share of about 20% positions the company strongly, but behind Adani Airports Holdings Limited, which leads with a market share of 25%.

The moat of GMR Airports Limited is based on its established infrastructure and strategic partnerships, especially in major metropolises like Delhi and Hyderabad. These locations provide a significant advantage through high passenger numbers and cargo volumes.

Compared to competitors, Adani Airports Holdings Limited has developed a stronger moat in recent years through aggressive expansion and investments in new airports. This could lead to a long-term competitive advantage, especially when it comes to tapping into new markets and improving service quality.

Nevertheless, GMR Airports Limited remains a strong player in the market due to its established operations and the strategic location of its airports. The ability to adapt to market changes and invest in infrastructure will be crucial to maintaining and expanding the moat.

Revenue Growth: 10.5% (2024) EBITDA Growth: 8.2% (2024) Net Income: $150 million USD (2024)

GMR Airports Limited recorded a revenue growth of 10.5% in 2024, attributed to a recovery in travel traffic and an increase in passenger numbers. The 8.2% EBITDA growth indicates that the company was able to improve its operational efficiency despite facing rising operating costs.

The net income of $150 million USD underscores the company's ability to remain profitable despite challenges in the industry. GMR Airports benefits from long-term concessions and a strategic positioning in high-growth markets.

Analysts see further potential in expanding airport capacities and diversifying revenue sources, especially through non-aeronautical businesses such as retail and real estate development. The long-term growth prospects are positive, particularly due to the increasing demand for air travel in Asia.

Overall, GMR Airports Limited could be an attractive investment for investors interested in long-term growth, especially in emerging markets.

Dividend payment: No dividend (2025)

GMR Airports Limited currently does not pay any dividends to its shareholders. The company has not distributed regular dividends in the past as it focuses heavily on expanding and developing its airport infrastructure.

The reliability of dividend payments is therefore not guaranteed, as the company typically reinvests its profits to finance future growth and expansion. Investors considering investing in GMR Airports Limited should take this into account and focus more on the company's long-term growth potential rather than short-term dividend returns.