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 ₹ 9,809 Cr.
- Current Price ₹ 142
- High / Low ₹ 146 / 141
- Stock P/E
- Book Value ₹ 94.6
- Dividend Yield 10.4 %
- ROCE 5.36 %
- ROE -3.14 %
- 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 -4.44% 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 | 1,585 | |
| 69 | 36 | 68 | 2 | 160 | 295 | 267 | 642 | |
| Operating Profit | 141 | 160 | 143 | -2 | 159 | 432 | 521 | 943 |
| OPM % | 67% | 81% | 68% | 50% | 59% | 66% | 60% | |
| 3 | 5 | 6 | 0 | 20 | 46 | 57 | 40 | |
| 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: | 71% |
| TTM: | 101% |
| 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% | 95% |
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 | -168 | |
| ROCE % | 10% | 9% | -0% | 1% | 3% | 4% | 5% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Number of operational toll road SPVs count |
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| NEPEPL average daily toll collection Rs. crore/day ・Standalone data |
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| SJEPL average daily toll collection Rs. crore/day ・Standalone data |
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| Commercial traffic share % of PCU |
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| NEPEPL average daily traffic PCU/day ・Standalone data |
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| NEPEPL number of toll plazas count ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
5h - NHAI retains WPI linking factor 1.641 for user-fee revision; earlier 2025 circular superseded.
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Reg 23(5)(i): Disclosure of material issue
2d - Sponsor group disclosure received: partial release of non-disposal undertaking on MIT units.
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Reg 23(5)(i): Disclosure of material issue
2d - Received July 6, 2026 disclosure on release of NDU for part of Sponsor Group’s MIT units.
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Reg 23(5)(i): Disclosure of material issue
30 Jun - 5th Annual Meeting on July 24, 2026; FY2025-26 annual report and valuation approval notices issued.
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Reg 23(5)(g): Notice of Unitholder meetings
30 Jun - MIT to hold 5th Annual Meeting on July 24, 2026; FY2025-26 annual report issued, e-voting July 21-23.
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.