Maple Infrastructure Trust
Incorporated in 2019, Maple Infrastructure Trust invests in infrastructure assets in the Indian road sector and will hold road projects through special purpose vehicles[1]
- Market Cap ₹ 10,022 Cr.
- Current Price ₹ 146
- High / Low ₹ 146 / 146
- Stock P/E
- Book Value ₹ 94.6
- Dividend Yield 10.2 %
- ROCE 5.36 %
- ROE -3.15 %
- Face Value ₹ 100
Pros
- Company is expected to give good quarter
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -4.45% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 210 | 197 | 211 | 0 | 319 | 726 | 788 | 1,624 | |
| 69 | 36 | 68 | 2 | 160 | 295 | 267 | 642 | |
| Operating Profit | 141 | 160 | 143 | -2 | 159 | 432 | 521 | 981 |
| OPM % | 67% | 81% | 68% | 50% | 59% | 66% | 60% | |
| 3 | 5 | 6 | 0 | 20 | 46 | 57 | 2 | |
| Interest | 127 | 142 | 140 | 0 | 210 | 418 | 414 | 623 |
| Depreciation | 30 | 31 | 33 | 0 | 119 | 261 | 274 | 460 |
| Profit before tax | -13 | -8 | -25 | -2 | -149 | -201 | -111 | -99 |
| Tax % | 0% | 0% | 0% | 0% | 3% | 5% | 9% | 20% |
| -13 | -8 | -25 | -2 | -153 | -211 | -121 | -118 | |
| EPS in Rs | -5.98 | -3.42 | -2.50 | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 50% |
| 3 Years: | 72% |
| TTM: | 106% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| TTM: | 2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -4% |
| Last Year: | -3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 148 | 148 | 148 | 0.00 | 3,518 | 3,518 | 3,518 | 5,274 |
| Reserves | -54 | -62 | -87 | -4 | -157 | -368 | -488 | -801 |
| 1,203 | 1,225 | 1,210 | 0 | 4,820 | 4,789 | 4,692 | 7,358 | |
| 65 | 99 | 148 | 3 | 215 | 191 | 205 | 3,402 | |
| Total Liabilities | 1,362 | 1,409 | 1,419 | 0 | 8,396 | 8,131 | 7,926 | 15,234 |
| 949 | 918 | 885 | 0 | 7,619 | 7,369 | 7,097 | 13,932 | |
| CWIP | 312 | 334 | 366 | 0 | 1 | 0 | 0 | 1 |
| Investments | 18 | 45 | 31 | 0 | 34 | 0 | 0 | 0 |
| 84 | 113 | 136 | 0 | 741 | 762 | 829 | 1,301 | |
| Total Assets | 1,362 | 1,409 | 1,419 | 0 | 8,396 | 8,131 | 7,926 | 15,234 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 151 | 177 | 177 | -0 | 184 | 378 | 528 | 851 | |
| -70 | -71 | -45 | 0 | -6,658 | -275 | -42 | -1,020 | |
| -95 | -103 | -125 | 0 | 6,858 | -436 | -509 | 927 | |
| Net Cash Flow | -14 | 4 | 6 | 0 | 384 | -334 | -23 | 758 |
| Free Cash Flow | 108 | 155 | 144 | -0 | -6,063 | 364 | 519 | 846 |
| CFO/OP | 109% | 111% | 125% | 16% | 118% | 90% | 103% | 91% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 0 | 1 | 2 | 1 | 2 | 7 | |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 1 | 0 | 1 | 2 | 1 | 2 | 7 | |
| Working Capital Days | -162 | -213 | -357 | -250 | -105 | -96 | -164 | |
| ROCE % | 10% | 9% | -0% | 1% | 3% | 4% | 5% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Consolidated Toll Collection Rs. Crore |
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| Operating Profit Margin (OPBDIT/OI) % |
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| Average Daily Traffic - NEPEPL Asset PCU ・Standalone data |
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| Number of Operational Toll Road Assets number |
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| Commercial Traffic Share in Portfolio % |
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| Number of States with Managed Assets number |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
2h - CDPQ Infrastructures Asia III Inc. agreed to sell up to 177,289,950 units on May 26, 2026.
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Reg 23(5)(i): Disclosure of material issue
2h - Annual Secretarial Compliance Report for FY2026 filed; SEBI actions against trustee noted with limited details.
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Reg 23(5)(i): Disclosure of material issue
23h - MAIF 4 seeks to acquire over 25% units; EGM on June 15, 2026.
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Reg 23(5)(i): Disclosure of material issue
22 May - Quarter ended March 31, 2026 deviation statement filed; preferential issue funds fully utilized, nil deviation.
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Reg 21: Disclosure of valuation report received by the manager
22 May - Maple Infrastructure Trust filed its annual valuation report; NAV at fair value is INR 152.8 per unit as of March 31, 2026.
Annual reports
No data available.
Business Overview:[1][2]
MIT is an irrevocable trust established under the Indian Trusts Act and sponsored by Maple Highways Pte. Ltd (a subsidiary of a Canadian Pension Fund). The Trust’s primary objective is
to invest in and operate infrastructure projects in India. It raises capital from investors and uses it to acquire, manage, transfer infrastructure projects.
Company is a long-term institutional platform which owns and operates road assets in India. Currently, its portfolio consists of 2 road assets.