Interise Trust
IndInfravit was established by L&T Infrastructure Development Projects Limited on March 7, 2018, as an irrevocable Trust. It is registered as an infrastructure investment trust under the SEBI (InvIT) Regulations on March 15, 2018.[1]
- Market Cap ₹ 11,440 Cr.
- Current Price ₹ 110
- High / Low ₹ 110 / 110
- Stock P/E 14.0
- Book Value ₹ 68.7
- Dividend Yield 6.92 %
- ROCE 9.72 %
- ROE 11.5 %
- Face Value ₹ 100
Pros
- Company has delivered good profit growth of 63.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 171%
Cons
- Tax rate seems low
- Company has a low return on equity of 7.71% 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 391 | 455 | 867 | 966 | 992 | 1,278 | 1,514 | 1,623 | |
| 14 | 311 | 603 | 1,063 | 1,327 | 434 | 324 | 135 | |
| Operating Profit | 377 | 144 | 264 | -97 | -335 | 844 | 1,190 | 1,488 |
| OPM % | 96% | 32% | 30% | -10% | -34% | 66% | 79% | 92% |
| 1 | 4 | 10 | 9 | 6 | 202 | 4 | 6 | |
| Interest | 52 | 63 | 201 | 316 | 340 | 630 | 683 | 676 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 325 | 86 | 74 | -404 | -669 | 416 | 511 | 818 |
| Tax % | 0% | 2% | 6% | 1% | 1% | 2% | 0% | 0% |
| 325 | 84 | 69 | -408 | -675 | 406 | 510 | 815 | |
| EPS in Rs | 8.78 | 1.35 | 1.12 | -6.58 | -10.89 | 3.90 | 4.90 | 7.82 |
| Dividend Payout % | 0% | 0% | 0% | 0% | -108% | 331% | 165% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 18% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 64% |
| 3 Years: | 48% |
| TTM: | 60% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 8% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3,700 | 6,624 | 6,624 | 6,624 | 6,624 | 10,886 | 10,886 | 10,886 |
| Reserves | 147 | -145 | -210 | -1,187 | -2,414 | -3,585 | -3,841 | -3,726 |
| 566 | 2,217 | 2,192 | 3,960 | 3,976 | 8,032 | 7,774 | 8,761 | |
| 2 | 145 | 68 | 50 | 53 | 35 | 27 | 26 | |
| Total Liabilities | 4,415 | 8,840 | 8,673 | 9,447 | 8,239 | 15,367 | 14,846 | 15,947 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 2 | 2 | 2 | 0 | 0 | 0 | 0 |
| Investments | 1,080 | 1,847 | 1,748 | 1,720 | 1,274 | 5,676 | 5,570 | 5,569 |
| 3,335 | 6,991 | 6,924 | 7,725 | 6,965 | 9,690 | 9,275 | 10,377 | |
| Total Assets | 4,415 | 8,840 | 8,673 | 9,447 | 8,239 | 15,367 | 14,846 | 15,947 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -2,956 | -2,741 | 590 | -1,092 | -85 | -121 | -70 | -74 | |
| -524 | -262 | -207 | -172 | 1,193 | -6,156 | 1,714 | 1,506 | |
| 3,481 | 3,411 | -359 | 884 | -876 | 6,111 | -1,705 | -1,389 | |
| Net Cash Flow | 0 | 409 | 24 | -380 | 232 | -166 | -61 | 43 |
| Free Cash Flow | -2,956 | -2,742 | 590 | -1,092 | -83 | -122 | -70 | -74 |
| CFO/OP | -785% | -1,903% | 225% | 1,124% | 24% | -13% | -6% | -5% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 247 | 1,232 | 892 | 1,054 | 1,171 | 1,318 | 539 | -46 |
| ROCE % | 2% | 3% | -1% | -4% | 7% | 8% | 10% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Individual Asset Revenue: Dhule Palesner (DPTPL) INR Million |
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| Individual Asset Revenue: Beawar Pali Pindwara (BPPTPL) INR Million |
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| Gross Toll and Annuity Collections (Consolidated) INR Million |
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| Portfolio Road Length Lane Kilometers |
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| FASTag Penetration Rate % |
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| Average Daily Toll Collection - FY23 Highest Contributors INR Million/Day |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
3 Jun - Interise Trust fully repaid ₹760 crore commercial papers on June 3, 2026.
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Reg 23(5)(i): Disclosure of material issue
3 Jun - Interise Trust allotted 34,542 commercial papers aggregating Rs. 1,727.10 crore for 91 days, listing expected June 4, 2026.
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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
26 May - ICRA reaffirmed Interise Trust’s AAA/Stable ratings on NCDs, bank facilities, CPs and issuer rating on May 26, 2026.
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Reg 23(5)(i): Disclosure of material issue
22 May - Committee approved issuance of commercial papers up to Rs. 1,800 crore on May 22, 2026.
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Reg 23(5)(i): Disclosure of material issue
21 May - Interise Trust set June 2, 2026 record date; ₹760 crore commercial paper matures on June 3, 2026.
InvITs structure[1] IndInfravit Trust is registered with SEBI as an Infrastructure Investment Trust. It is a collective investment vehicle that pools together funds from long-term investors to acquire income-generating infrastructure assets from developers. InvlTs are managed by an independent trustee and investment managers, whose Board comprises at least 50% of independent directors.