Indus Infra Trust
Incorporated in 2022, Indus Infra Trust is a SEBI-registered infrastructure investment trust[1]
- Market Cap ₹ 5,401 Cr.
- Current Price ₹ 122
- High / Low ₹ 126 / 95.2
- Stock P/E 12.8
- Book Value ₹ 109
- Dividend Yield 8.19 %
- ROCE 9.32 %
- ROE 9.38 %
- Face Value ₹ 100
Pros
- Stock is trading at 1.12 times its book value
- Stock is providing a good dividend yield of 8.19%.
- Promoter holding has increased by 43.6% over last quarter.
Cons
- Tax rate seems low
- Company has a low return on equity of 4.69% 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 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 2,170 | 1,600 | 0 | 121 | 745 | 740 | |
| 1,671 | 1,172 | 0 | 84 | 224 | 215 | |
| Operating Profit | 499 | 428 | 0 | 37 | 521 | 525 |
| OPM % | 23% | 27% | 30% | 70% | 71% | |
| 0 | 0 | 0 | 8 | 111 | 71 | |
| Interest | 265 | 344 | 0 | 25 | 129 | 157 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 234 | 84 | 0 | 20 | 503 | 439 |
| Tax % | 36% | 25% | 25% | 4% | ||
| 149 | 63 | 0 | 15 | 482 | 424 | |
| EPS in Rs | 0.33 | 10.87 | 9.57 | |||
| Dividend Payout % | 0% | 0% | 886% | 42% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -23% |
| TTM: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 94% |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 8% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 5% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 188 | 188 | 0.00 | 4,376 | 4,368 | 4,338 |
| Reserves | 340 | 403 | 0 | 580 | 541 | 507 |
| 3,710 | 4,679 | 3 | 1,138 | 2,144 | 2,240 | |
| 706 | 267 | 5 | 165 | 59 | 63 | |
| Total Liabilities | 4,944 | 5,537 | 8 | 6,259 | 7,112 | 7,148 |
| 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 67 | 457 | 638 |
| 4,944 | 5,537 | 8 | 6,192 | 6,655 | 6,510 | |
| Total Assets | 4,944 | 5,537 | 8 | 6,259 | 7,112 | 7,148 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -944 | -398 | 0 | 129 | 439 | |
| -119 | -151 | 0 | 0 | 367 | |
| 1,178 | 626 | -0 | 62 | -829 | |
| Net Cash Flow | 115 | 77 | 0 | 191 | -23 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 6 | 5 | 18 | 0 | |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 6 | 5 | 18 | 0 | |
| Working Capital Days | 20 | 41 | 1,471 | 255 | |
| ROCE % | 9% | 0% | 1% | 9% |
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
11 Feb - Q3 FY26 transcript; INR 3.40/unit distribution; SPA for four KNR HAM assets; Bahadurganj acquisition completed.
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Reg 23(5)(i): Disclosure of material issue
10 Feb - Postal ballot to approve purchase of three GR Infra SPVs upto Rs.9,050m and raise borrowings to 70% from related party
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Reg 23(5)(d): Disclosure of details of any credit rating obtained by the InvIT and any change in such rating
10 Feb - CARE reaffirmed CARE AAA; Stable for Indus Infra Trust's Rs.7,901.52 crore facilities (enhanced from Rs.2,958.35 crore).
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Reg 23(5)(i): Disclosure of material issue
9 Feb - Valuation (31-Dec-2025) for acquiring three GR Infra HAM SPVs; combined EV ₹27,768mn (Adjusted EV ₹27,972mn).
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Reg 23(5)(i): Disclosure of material issue
9 Feb - Indus Infra Trust to acquire three GR Infraprojects SPVs; borrowing limit raised to 70%; unitholder approval sought.
Annual reports
No data available.
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptPPT
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Jul 2025Transcript PPT
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May 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT REC
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Jan 2024TranscriptAI SummaryPPT
Business Overview:[1][2]
a) Indus InvIT is sponsored by AIPL, with GRHIMPL as the investment manager, AIPL as the project manager, and IDBI Trusteeship Services Ltd as the trustee.
b) It is an infrastructure investment trust formed to acquire, manage, and invest in infrastructure assets or securities of infrastructure companies.
c) It raises funds through the InvIT to invest as per SEBI InvIT Regulations and its defined investment objectives and strategy.