IndiGrid Infrastructure Trust

IndiGrid Trust Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

IndiGrid Infrastructure Trust

₹ 171 0.10%
02 Jun 9:37 a.m.
indigrid.co.in BSE: 540565 NSE: INDIGRID
About

India Grid Trust (IndiGrid) is the India's first listed power sector infrastructure investment trust, sponsored by KKR and Sterlite Power. It was established in 2016 to own and operate power transmission and renewable energy assets in India.[1]
The Trust primarily acquires operational transmission SPVs (Special Purpose Vehicles) from a Sponsor or from a third party. [2]

The entity is not a public/ private company. It is an infrastructure investment trust (InvIT). There are no shareholders of a trust. Rather, there are unit holders who have the right to receive at-least 90% of the Net Distributable Cashflows of the Trust at least once in every six months in each financial year in accordance with the InvIT regulations.
Also, a unitholder has no equitable or proprietary interest in the projects of IndiGrid and is not entitled to any share in the transfer of projects or any interest in the projects of IndiGrid.[3]

Key Points

Projects/ Assets[1]
As of Q1FY26, the trust has a portfolio of a circuit length of ~9,336 cKms (across 53 transmission lines), ~25,050 MVA (across 16 substations) of transformation capacity, and 100 MW of solar power assets across 20 states and 2 union territory(90 revenue generating elements) in India. ENICL has a TSA term of 25 years from the license date.

Website BSE NSE
  • Market Cap ₹ 19,483 Cr.
  • Current Price ₹ 171
  • High / Low ₹ 178 / 148
  • Stock P/E 14.0
  • Book Value ₹ 112
  • Dividend Yield 12.8 %
  • ROCE 10.0 %
  • ROE 14.3 %
  • Face Value ₹ 136
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Pros

  • Company's median sales growth is 18.8% of last 10 years

Cons

  • Company has low interest coverage ratio.
  • Promoter holding is low: 1.23%
  • Tax rate seems low
  • Promoter holding has decreased over last 3 years: -22.5%

* 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

Utilities Power Power Power - Transmission

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
581 624 640 695 758 679 706 685 669 696 778 815 812
19 86 121 123 27 -66 5 77 111 18 32 117 44
Operating Profit 561 539 518 572 731 745 701 609 558 677 746 698 768
OPM % 97% 86% 81% 82% 96% 110% 99% 89% 83% 97% 96% 86% 95%
0 0 0 0 0 30 0 21 22 22 20 11 20
Interest 254 286 321 354 347 352 361 350 340 362 394 409 397
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 1
Profit before tax 307 252 197 218 385 423 340 279 240 338 371 300 390
Tax % 0% 0% 0% 1% -0% 0% 1% 0% -1% 0% 0% 1% 1%
307 252 197 216 385 422 338 278 242 338 371 298 386
EPS in Rs 4.39 3.60 2.69 2.75 4.91 5.38 4.32 3.33 2.91 4.05 4.44 3.46 4.05
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0 60 354 324 553 1,055 1,249 2,003 2,181 2,601 2,720 3,101
27 15 43 3 242 279 -251 182 207 357 127 211
Operating Profit -27 45 311 321 311 777 1,500 1,820 1,974 2,244 2,593 2,890
OPM % 75% 88% 99% 56% 74% 120% 91% 91% 86% 95% 93%
46 20 6 -48 3 18 8 46 48 117 92 73
Interest 56 94 330 10 102 298 435 943 1,001 1,307 1,402 1,561
Depreciation 2 37 96 0 0 0 0 0 1 1 1 2
Profit before tax -39 -66 -109 262 212 497 1,072 923 1,020 1,052 1,282 1,399
Tax % 2% -30% -28% 0% 0% 1% -0% 0% 0% 0% 0% 1%
-40 -47 -78 262 211 491 1,072 921 1,017 1,049 1,281 1,392
EPS in Rs 7.71 6.20 7.01 15.32 13.15 14.52 13.39 15.34 14.61
Dividend Payout % 0% 0% 0% 103% 161% 130% 60% 91% 21% 26% 27% 0%
Compounded Sales Growth
10 Years: 24%
5 Years: 20%
3 Years: 12%
TTM: 14%
Compounded Profit Growth
10 Years: 35%
5 Years: 5%
3 Years: 11%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: 8%
1 Year: 16%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 14%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.18 18 18 2,838 2,838 5,315 5,315 6,590 6,590 7,645 8,332 10,244
Reserves -6 296 218 77 -52 -171 195 229 330 358 440 431
2,611 3,355 3,767 994 1,680 3,948 10,551 12,470 14,493 18,148 18,768 20,810
698 380 230 59 23 210 272 254 233 252 106 116
Total Liabilities 3,303 4,049 4,232 3,968 4,489 9,302 16,332 19,544 21,646 26,402 27,646 31,601
23 1,700 3,968 0 0 0 0 8 7 6 5 6
CWIP 2,926 2,039 0 0 0 0 0 0 0 0 0 0
Investments 0 0 1 744 607 1,848 4,364 4,897 4,806 7,026 8,009 7,158
354 310 263 3,224 3,882 7,453 11,968 14,640 16,833 19,371 19,632 24,436
Total Assets 3,303 4,049 4,232 3,968 4,489 9,302 16,332 19,544 21,646 26,402 27,646 31,601

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-15 19 261 -3 -10 -11 -100 -54 -21 -47 -70 -20
-1,439 -713 -311 -2,928 -228 -3,746 -5,083 -1,280 -675 -2,523 1,394 -963
1,135 717 17 3,049 249 3,841 5,661 1,428 106 2,382 -1,302 978
Net Cash Flow -319 23 -33 118 11 84 478 94 -590 -188 22 -5
Free Cash Flow -1,410 -740 -109 -3 -10 -11 -100 -61 -21 -47 -71 -23
CFO/OP 45% 51% 82% -1% -3% -1% -7% -3% -1% -2% -3% -1%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 108 66 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 108 66 0 0 0 0 0 0 0 0 0
Working Capital Days -1,063 31 1 25 -42 -107 -301 -90 -35 -53 -6
ROCE % 1% 6% 7% 12% 12% 11% 10% 10% 10% 10%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025
Transformation Capacity
MVA

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Transmission Network Length
cKms
Average Transmission Availability
%
Revenue Generating Elements
Nos
Renewable Generation Capacity
GWp
BESS Capacity
MWh
Solar Capacity Utilization Factor (CUF)
%

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Shareholding Pattern

Numbers in percentages

3 Recently

Shareholding pattern is currently not available for this company.

Documents

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