Anantam Highways Trust
Anantam Highways Trust is an Indian infrastructure investment trust which
proposes to invest in road infrastructure
assets. The Trust is sponsored by
Alpha Alternatives Fund Advisors
LLP[1]
- Market Cap ₹ 2,281 Cr.
- Current Price ₹ 105
- High / Low ₹ 117 / 100
- Stock P/E 5.69
- Book Value ₹ 102
- Dividend Yield 2.38 %
- ROCE 8.94 %
- ROE 10.5 %
- Face Value ₹ 100
Pros
- Stock is trading at 1.02 times its book value
Cons
- Company has a low return on equity of -3.49% over last 3 years.
- Working capital days have increased from 157 days to 307 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 2,189 | 2,769 | 2,526 | 0 | 202 | 526 | |
| 2,195 | 2,753 | 2,419 | 0 | 9 | 11 | |
| Operating Profit | -6 | 16 | 106 | -0 | 193 | 515 |
| OPM % | -0.3% | 0.6% | 4.2% | 96% | 98% | |
| 4 | 2 | 1 | 0 | 0 | 0 | |
| Interest | 66 | 166 | 227 | 0 | 76 | 115 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -68 | -148 | -120 | -0 | 117 | 401 |
| Tax % | -5% | 11% | 34% | 0% | 0% | |
| -64 | -164 | -160 | -0 | 117 | 401 | |
| EPS in Rs | 5.39 | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 46% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -58% |
| TTM: | % |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| TTM: | 233820% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -1% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -17% |
| 3 Years: | -3% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 74 | 74 | 4 | 0.00 | 2,175 |
| Reserves | 91 | 81 | 46 | -0 | 51 |
| 1,221 | 2,375 | 3,345 | 0 | 2,101 | |
| 701 | 339 | 134 | 0 | 19 | |
| Total Liabilities | 2,086 | 2,870 | 3,530 | 0 | 4,345 |
| 0 | 0 | 1 | 0 | 0 | |
| CWIP | 1,200 | 2,256 | 1,129 | 0 | 0 |
| Investments | -3 | -7 | 0 | 0 | 1,775 |
| 889 | 620 | 2,401 | 0 | 2,570 | |
| Total Assets | 2,086 | 2,870 | 3,530 | 0 | 4,345 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -891 | -730 | -1,889 | 0 | -0 | |
| -341 | -419 | 722 | 0 | -2,352 | |
| 1,293 | 1,152 | 1,194 | 0 | 2,368 | |
| Net Cash Flow | 61 | 3 | 27 | 0 | 16 |
| Free Cash Flow | -891 | -730 | -1,890 | 0 | -0 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 15,931% | -4,655% | -1,772% | 0% | -0% |
Ratios
Standalone / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 0 | 12 | 18 | 0 | |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 0 | 12 | 18 | 0 | |
| Working Capital Days | -23 | -14 | 7 | 307 | |
| ROCE % | 1% | 4% | -0% | 9% |
Insights
In beta| Dec 2024 | Mar 2026 | |
|---|---|---|
| AUM (Enterprise Value) INR million |
|
|
| Cumulative Annuities Received from NHAI count |
||
| Number of Operational HAM Assets/SPVs count |
||
| Total Project Length km |
||
| Weighted Average Residual Concession Life years |
||
Extracted by Screener AI
Documents
Announcements
-
Reg 26K: Quarterly Compliance Report on Corporate governance
- Anantam Highways Trust filed Q2 FY2026-27 corporate governance compliance report on October 20, 2026.
-
Investor Complaints
- Investor grievance report for quarter ended September 30, 2026 shows zero complaints.
-
Reg 23(5)(i): Disclosure of material issue
- Board meeting on October 22, 2026 to approve Q2/H1 FY2027 results and possible distribution; record date October 27, 2026.
-
Unit Holding Pattern
- Anantam Highways Trust filed quarter-end unitholding pattern for September 30, 2026.
-
Reg 23(5)(i): Disclosure of material issue
- Trading window closed from October 1, 2026 until 48 hours after Q2 and half-year results.
Concalls
-
Aug 2026PPT REC
-
May 2026Transcript PPT
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Feb 2026Transcript PPT REC
About Trust[1]
Anantam Highways Trust (AHT) is registered as an irrevocable trust under the Indian Trust Act, 1882, and as an InvIT under the SEBI. Alpha Alternatives Fund-Infra Advisors Private Limited is the investment manager of the InvIT and Alpha Alternatives Fund Advisors LLP is the sponsor.The InvIT listed its units on the NSE and the BSE on October 16, 2025.