Energy Infrastructure Trust
Incorporated in 2018, Energy Infrastructure
Trust is registered as a contributory irrevocable trust set up under the Indian Trusts Act, and registered as an infrastructure investment
trust under SEBI[1]
- Market Cap ₹ 5,644 Cr.
- Current Price ₹ 85.0
- High / Low ₹ 94.0 / 84.0
- Stock P/E 6.88
- Book Value ₹ 87.3
- Dividend Yield 4.80 %
- ROCE 13.8 %
- ROE 13.8 %
- Face Value ₹ 100
Pros
- Company is almost debt free.
- Stock is trading at 0.97 times its book value
Cons
- The company has delivered a poor sales growth of -19.3% over past five years.
- Tax rate seems low
- Company has a low return on equity of 10.8% over last 3 years.
- Working capital days have increased from 54.7 days to 178 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Infrastructure Investment Trusts Industry: Construction
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 31 | 2,482 | 792 | 598 | 94 | 1,109 | 849 | |
| 83 | 26 | 18 | 21 | 9 | 13 | 27 | |
| Operating Profit | -52 | 2,456 | 775 | 577 | 85 | 1,096 | 822 |
| OPM % | -167% | 99% | 98% | 96% | 90% | 99% | 97% |
| 4 | 4 | 4 | 3 | -14 | -14 | 0 | |
| Interest | 15 | 119 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -62 | 2,341 | 778 | 580 | 71 | 1,081 | 822 |
| Tax % | 0% | 0% | 0% | 0% | 2% | 0% | 0% |
| -62 | 2,339 | 777 | 579 | 70 | 1,079 | 821 | |
| EPS in Rs | -0.94 | 35.23 | 11.70 | 8.72 | 1.05 | 16.25 | 12.36 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -19% |
| 3 Years: | 12% |
| TTM: | -23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -19% |
| 3 Years: | 12% |
| TTM: | -25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -4% |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 11% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6,640 | 6,045 | 5,581 | 5,158 | 4,708 | 4,228 | 3,740 |
| Reserves | -62 | 1,816 | 1,887 | 1,831 | 1,304 | 1,890 | 2,059 |
| 6,370 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 98 | 52 | 60 | 74 | 85 | 121 | 116 | |
| Total Liabilities | 13,046 | 7,912 | 7,528 | 7,063 | 6,098 | 6,239 | 5,915 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 12,993 | 7,862 | 7,474 | 7,014 | 6,048 | 6,193 | 5,913 |
| 52 | 50 | 54 | 49 | 50 | 47 | 2 | |
| Total Assets | 13,046 | 7,912 | 7,528 | 7,063 | 6,098 | 6,239 | 5,915 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 8 | 627 | 707 | 628 | -12 | -14 | -12 | |
| -12,993 | 6,908 | 463 | 429 | 1,058 | 987 | 1,153 | |
| 13,010 | -7,559 | -1,170 | -1,057 | -1,047 | -973 | -1,141 | |
| Net Cash Flow | 25 | -24 | 0 | -0 | -0 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -375 | -0 | -1 | -2 | -6 | -8 | 178 |
| ROCE % | 24% | 10% | 8% | 1% | 18% | 14% |
Documents
Announcements
-
Reg 21: Disclosure of valuation report received by the manager
2d - Annual valuation report for Energy Infrastructure Trust's pipeline asset valued at INR 1,24,440 million as of March 31, 2025.
-
Reg 23(5)(i): Disclosure of material issue
2d - Energy Infrastructure Trust FY25 audited results, NAV Rs.88.35/unit, distributions declared, credit ratings affirmed.
-
Reg 23(5)(i): Disclosure of material issue
13 May - Board meeting on May 19 to approve FY25 audited financial results; trading window closed from April 1.
-
Reg 23(5)(i): Disclosure of material issue
22 Apr - CARE reaffirms Energy Infrastructure Trust's issuer rating at CARE AAA; Stable on April 21, 2025.
-
Reg 26K: Quarterly Compliance Report on Corporate governance
19 Apr - Quarterly corporate governance compliance report filed for Energy Infrastructure Trust for quarter/FY ended March 31, 2025.
Business Overview:[1]
a) EIT (formerly known as India Infrastructure Trust) is an infrastructure investment trust, InvIT). It owns the entire stake in Pipeline Infrastructure Ltd, a special purpose vehicle, which took over the East-West Pipeline from Reliance Industries Holdings Pvt Ltd. on a going concern basis
b) It is promoted by an indirect subsidiary
of Brookfield Corporation (BN), i.e. Rapid
Holdings 2 Pte Ltd (sponsor).
c) EnCap Investment Manager Pvt Ltd (erstwhile Brookfield India Infrastructure Manager Pvt Ltd.) is the Investment Manager.
d) O&M contractor is a 50:50 JV of the sponsor and Reliance group.
e) IDBI Trusteeship Services Ltd is the debenture trustee