Indus Infra Trust
Incorporated in 2022, Indus Infra Trust is a SEBI-registered infrastructure investment trust[1]
- Market Cap ₹ 7,882 Cr.
- Current Price ₹ 129
- High / Low ₹ 134 / 109
- Stock P/E 20.6
- Book Value ₹ 107
- Dividend Yield 12.5 %
- ROCE 6.77 %
- ROE 7.92 %
- Face Value ₹ 119
Pros
- Stock is trading at 1.20 times its book value
- Stock is providing a good dividend yield of 12.5%.
- Company has been maintaining a healthy dividend payout of 359%
- Promoter holding has increased by 43.6% over last quarter.
Cons
- Tax rate seems low
- Company has a low return on equity of 5.84% over last 3 years.
- Company might be capitalizing the interest cost
* 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 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 3,093 | 2,170 | 1,600 | 0 | 121 | 745 | 677 | |
| 2,813 | 1,671 | 1,172 | 0 | 84 | 224 | 194 | |
| Operating Profit | 280 | 499 | 428 | 0 | 37 | 521 | 483 |
| OPM % | 9% | 23% | 27% | 30% | 70% | 71% | |
| 0 | 0 | 0 | 0 | 8 | 111 | 72 | |
| Interest | 171 | 265 | 344 | 0 | 25 | 129 | 168 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 109 | 234 | 84 | 0 | 20 | 503 | 387 |
| Tax % | 31% | 36% | 25% | 25% | 4% | 1% | |
| 75 | 149 | 63 | 0 | 15 | 482 | 383 | |
| EPS in Rs | 0.33 | 10.87 | 8.64 | ||||
| Dividend Payout % | 0% | 0% | 0% | 886% | 42% | 149% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -21% |
| 3 Years: | % |
| TTM: | -9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | % |
| TTM: | -17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 6% |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 178 | 188 | 188 | 0.00 | 4,376 | 4,368 | 4,218 |
| Reserves | 190 | 340 | 403 | 0 | 580 | 541 | 531 |
| 2,284 | 3,710 | 4,679 | 3 | 1,138 | 2,144 | 4,603 | |
| 924 | 706 | 267 | 5 | 165 | 59 | 225 | |
| Total Liabilities | 3,577 | 4,944 | 5,537 | 8 | 6,259 | 7,112 | 9,577 |
| 0 | 0 | 0 | 0 | 0 | 0 | 3 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 67 | 457 | 145 |
| 3,577 | 4,944 | 5,537 | 8 | 6,192 | 6,655 | 9,429 | |
| Total Assets | 3,577 | 4,944 | 5,537 | 8 | 6,259 | 7,112 | 9,577 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -1,220 | -944 | -398 | 0 | 129 | 439 | 599 | |
| 74 | -119 | -151 | 0 | 0 | 367 | 699 | |
| 1,162 | 1,178 | 626 | -0 | 62 | -829 | -1,167 | |
| Net Cash Flow | 16 | 115 | 77 | 0 | 191 | -23 | 130 |
| Free Cash Flow | -1,220 | -944 | -398 | 0 | 129 | 439 | 599 |
| CFO/OP | -422% | -187% | -85% | 232% | 89% | 120% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 6 | 5 | 18 | 0 | 1 | |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 1 | 6 | 5 | 18 | 0 | 1 | |
| Working Capital Days | 23 | 20 | 41 | 1,471 | 255 | 360 | |
| ROCE % | 14% | 9% | 0% | 1% | 9% | 7% |
Insights
In beta| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Assets Under Management (AUM) Rs Mn |
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| Cumulative Annuities Received count |
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| Number of HAM Projects count |
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| Outstanding Annuity Receivable Rs Mn |
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| Total Lane KMs lane km |
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| Total Project Length km |
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| Weighted Average Residual Concession Life years |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
1 Jul - Indus Infra Trust acquired 100% equity in ULCCS Kasaragod Expressway Private Limited on 1 July 2026.
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Reg 23(5)(i): Disclosure of material issue
29 Jun - Trading window closes from 1 July 2026 until 48 hours after Q1 FY27 results.
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Reg 23(5)(i): Disclosure of material issue
29 Jun - Board approved up to Rs. 1,148 crore term loan from HDFC Bank on 29 June 2026 for refinancing.
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Reg 23(5)(g): Notice of Unitholder meetings
29 Jun - Indus Infra Trust AGM scheduled for 24 July 2026; approves FY26 financials, valuation report, valuer appointment.
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Reg 23(5)(g): Notice of Unitholder meetings
29 Jun - Indus Infra Trust filed FY26 annual report on 29 June 2026; AUM ₹94,484 million, 13 HAM projects.
Annual reports
No data available.
Concalls
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May 2026Transcript PPT REC
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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.