Main sector revenues:

1. Road construction and infrastructure development
2. Toll road operation

TOP 3 markets and their percentage shares:

1. India: approx. 85%
2. Middle East: approx. 10%
3. Southeast Asia: approx. 5%

IRB Infrastructure Developers Limited generates the majority of its revenues from the construction and operation of road infrastructure, especially through toll roads in India. The Indian market is the dominant revenue contributor, attributed to the extensive infrastructure projects and the strategic importance of the road network in India.

The Middle East market and Southeast Asia are emerging markets for IRB, with a focus on expansion and the development of new projects to strengthen international presence. These markets offer potential for future growth, particularly due to the increasing demand for modern infrastructure.

Production Sites: India

IRB Infrastructure Developers Limited is a leading infrastructure company in India, mainly focusing on the construction and operation of roads and highways. The company does not produce physical products in the traditional sense, but is involved in the development and management of infrastructure projects. IRB Infrastructure's projects are located in various regions of India, with a focus on the construction and management of toll roads.

Current Strategy: Expansion of infrastructure projects and diversification (2026)

Financial Investments: Increase in investments in highway projects and public-private partnerships

IRB Infrastructure Developers Limited is pursuing a growth strategy that heavily focuses on expanding infrastructure projects, particularly in the area of highway development. The company is relying on public-private partnerships to expand its market presence and finance new projects more efficiently.

Another key focus is on diversifying the project pipeline to spread risks and secure stable revenue streams. IRB plans to strengthen its competitiveness and ensure long-term growth through strategic investments in new regions and innovative technologies.

I'm sorry, but I do not have specific information on the raw material imports of IRB Infrastructure Developers Limited for the year 2026. However, I can provide you with general information about the industry and possible sources of imports.

Main raw materials in infrastructure development:

• Asphalt
• Concrete
• Steel
• Bitumen

Typical countries for importing these raw materials:

• Steel: China, Japan, South Korea
• Bitumen: Middle East, especially Saudi Arabia
• Asphalt: USA, Canada
• Cement: Generally sourced locally, but can also be imported from neighboring countries when needed

IRB Infrastructure Developers Limited could import raw materials from these countries, depending on specific project requirements and market conditions. However, the exact sources of imports may change depending on economic and geopolitical factors.

Market share: 10% in the Indian road sector (estimated 2026)
EBITDA margin: 40% (2025)
Order backlog: 20,000 Crore INR (2025)

IRB Infrastructure Developers Limited has a significant competitive advantage in the Indian infrastructure sector, especially in the area of road development. The company benefits from a solid market share of approximately 10% in the Indian road sector, making it one of the leading players in this field.

The high EBITDA margin of 40% in 2025 demonstrates the efficiency and profitability of the company in executing its projects. This margin is an indicator of IRB's ability to control costs while providing high-quality services.

Another important factor is the extensive order backlog of 20,000 Crore INR, which secures future revenues and highlights the company's growth potential. This order backlog provides IRB with a stable foundation for the coming years and strengthens its position in the market.

Institutional Investor Share: 42% (estimated, based on the latest available data from 2023)

Insider Purchases/Sales: No significant transactions known in 2026

The institutional investor share in IRB Infrastructure Developers Limited is approximately 42%, indicating that a significant number of shares are held by large financial institutions. This can be a sign of confidence in the company's long-term performance.

In 2026, no significant insider purchases or sales have been reported, which could indicate a stable assessment by the company's management regarding the future development of the company. Such transactions are often seen as indicators of the expectations of the leadership regarding the company's development.

Market share of IRB Infrastructure Developers Limited: Estimated 8-10% (2026)

Top competitors and their market share:

1. Larsen & Toubro (L&T): Estimated 20-25%
2. GMR Infrastructure Limited: Estimated 10-12%
3. Adani Ports and Special Economic Zone Limited: Estimated 10-12%
4. Hindustan Construction Company (HCC): Estimated 5-7%
5. NCC Limited: Estimated 5-7%

Moat of IRB Infrastructure Developers Limited:

IRB Infrastructure Developers Limited has a moderate moat, mainly based on their expertise in road development and management. They have a strong portfolio of Build-Operate-Transfer (BOT) projects, providing them with a certain level of stability and long-term revenue security.

In comparison to competitors like Larsen & Toubro, who have a broader diversification and stronger international presence, IRB's moat is less pronounced. L&T benefits from a comprehensive range of projects spanning infrastructure, energy, and defense, giving them a more robust protection against market fluctuations.

Adani Ports also has a significant moat due to its strategic positioning in the port and logistics industry, supported by the increasing demand for trade infrastructure.

Overall, IRB Infrastructure has a solid but not outstanding moat compared to some of its larger and more diversified competitors. The competitive advantage could be strengthened through further diversification and international expansion.

Revenue Growth: 10.5% (2025) EBITDA Margin: 45% (2025) Debt-to-Equity Ratio: 1.8 (2025)

IRB Infrastructure Developers Limited recorded a revenue growth of 10.5% in 2025, indicating a solid project pipeline and strong demand for infrastructure projects in India. The EBITDA margin of 45% demonstrates an efficient cost structure and strong operational performance.

The debt-to-equity ratio of 1.8 suggests a moderate level of debt, which can be considered acceptable compared to other companies in the infrastructure industry. This allows IRB to continue investing in new projects without taking on excessive financial risks.

In summary, IRB Infrastructure Developers Limited presents a potentially attractive investment opportunity due to its strong operational performance and solid financial position. However, investors should also consider macroeconomic factors and regulatory developments in India that could impact the infrastructure sector.

Dividend yield: 1.5% (estimated for 2026)

IRB Infrastructure Developers Limited has distributed dividends in the past, but the dividend yield is relatively low compared to other companies in the industry. The payout is not always consistent, as it heavily depends on the financial results and project pipeline of the company.

The reliability of dividend payment can be considered moderate. The company operates in a capital-intensive sector, which means a significant portion of profits is reinvested in new projects. This can lead to fluctuations in the dividend policy. Analysts recommend keeping an eye on the financial stability and future projects of the company to better assess its dividend-paying ability.