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 ₹ 11,764 Cr.
- Current Price ₹ 113
- High / Low ₹ 115 / 113
- Stock P/E
- Book Value ₹ 51.0
- Dividend Yield 6.85 %
- ROCE 9.12 %
- ROE -1.25 %
- Face Value ₹ 100
Pros
- Stock is providing a good dividend yield of 6.85%.
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -5.23% over last 3 years.
- Company's cost of borrowing seems high
* 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
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 801 | 975 | 1,490 | 1,666 | 1,970 | 3,104 | 3,543 | |
| 633 | 664 | 644 | 813 | 824 | 1,272 | 1,241 | |
| Operating Profit | 168 | 311 | 846 | 854 | 1,146 | 1,831 | 2,301 |
| OPM % | 21% | 32% | 57% | 51% | 58% | 59% | 65% |
| 15 | 27 | 136 | 109 | 132 | 360 | 96 | |
| Interest | 420 | 587 | 902 | 941 | 973 | 1,349 | 1,421 |
| Depreciation | 281 | 349 | 587 | 643 | 764 | 1,079 | 1,131 |
| Profit before tax | -517 | -598 | -507 | -621 | -459 | -237 | -155 |
| Tax % | -5% | -20% | -7% | -16% | -13% | -34% | -54% |
| -491 | -480 | -470 | -524 | -401 | -157 | -71 | |
| EPS in Rs | -13.26 | -7.74 | -7.58 | -8.45 | -6.46 | -1.51 | -0.68 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | -1,179% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 29% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 23% |
| TTM: | 68% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -7% |
| 3 Years: | -5% |
| Last Year: | -1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3,700 | 6,624 | 6,624 | 6,624 | 6,624 | 10,886 | 10,886 |
| Reserves | 187 | -379 | -983 | -2,076 | -3,028 | -4,732 | -5,570 |
| 1,016 | 4,434 | 4,310 | 4,446 | 4,447 | 8,503 | 7,806 | |
| 3,823 | 5,660 | 5,935 | 5,931 | 5,755 | 7,327 | 7,613 | |
| Total Liabilities | 8,727 | 16,339 | 15,886 | 14,925 | 13,798 | 21,984 | 20,735 |
| 8,366 | 14,819 | 14,134 | 13,322 | 12,403 | 20,339 | 19,305 | |
| CWIP | 2 | 4 | 2 | 8 | 1 | 97 | 1 |
| Investments | 245 | 47 | 10 | 467 | 11 | 0 | 0 |
| 113 | 1,470 | 1,740 | 1,128 | 1,383 | 1,548 | 1,429 | |
| Total Assets | 8,727 | 16,339 | 15,886 | 14,925 | 13,798 | 21,984 | 20,735 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 373 | 532 | 1,060 | 1,065 | 820 | 1,482 | 1,595 | |
| -353 | -137 | -339 | -404 | 403 | -7,374 | -242 | |
| 10 | 304 | -686 | -1,108 | -933 | 6,075 | -1,728 | |
| Net Cash Flow | 30 | 699 | 35 | -447 | 290 | 183 | -375 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 2 | 3 | 14 | 16 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 2 | 3 | 14 | 16 |
| Working Capital Days | -200 | -259 | -150 | -224 | -171 | -119 | -110 |
| ROCE % | -0% | 3% | 3% | 5% | 9% | 9% |
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
4 Jun - Interise Trust allotted Rs. 760 Cr unsecured commercial papers rated ICRA A1+, tenure 364 days.
-
Reg 23(5)(i): Disclosure of material issue
27 May - Interise Trust credit ratings by ICRA remain unchanged with stable outlook as of May 27, 2025.
-
Reg 23(5)(i): Disclosure of material issue
22 May - Secretarial compliance report; SEBI issued administrative warning on NDCF distribution; no penalties.
-
Reg 21: Disclosure of valuation report received by the manager
22 May - Interise Trust valuation report and NAV declared for period ended March 31, 2025.
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Disclosure of Annual financial information
21 May - Audited FY25 results; Rs.0.38/unit distribution declared; Rs.800 Cr commercial papers approved.
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.