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 247
- Book Value ₹ 44.7
- Dividend Yield 2.10 %
- ROCE 10.8 %
- ROE 0.85 %
- Face Value ₹ 100
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -1.55% 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 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 801 | 975 | 1,490 | 1,666 | 1,970 | 3,143 | 3,476 | 3,567 | 3,575 | |
| 633 | 664 | 644 | 813 | 824 | 1,272 | 1,240 | 1,071 | 1,088 | |
| Operating Profit | 168 | 311 | 846 | 854 | 1,146 | 1,871 | 2,236 | 2,496 | 2,486 |
| OPM % | 21% | 32% | 57% | 51% | 58% | 60% | 64% | 70% | 70% |
| 15 | 27 | 136 | 109 | 132 | 321 | 162 | 85 | 70 | |
| Interest | 420 | 587 | 902 | 941 | 973 | 1,349 | 1,423 | 1,373 | 1,361 |
| Depreciation | 281 | 349 | 587 | 643 | 764 | 1,079 | 1,131 | 1,118 | 1,077 |
| Profit before tax | -517 | -598 | -507 | -621 | -459 | -237 | -155 | 90 | 118 |
| Tax % | -5% | -20% | -7% | -16% | -13% | -34% | -54% | 53% | |
| -491 | -480 | -470 | -524 | -401 | -157 | -71 | 42 | 46 | |
| EPS in Rs | -13.26 | -7.74 | -7.58 | -8.45 | -6.46 | -1.51 | -0.68 | 0.40 | 0.44 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 323% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 22% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 28% |
| TTM: | 229% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -2% |
| 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3,700 | 6,624 | 6,624 | 6,624 | 6,624 | 10,886 | 10,886 | 10,886 |
| Reserves | 187 | -379 | -983 | -2,076 | -3,028 | -4,732 | -5,570 | -6,228 |
| 1,016 | 4,434 | 4,310 | 4,446 | 4,447 | 8,514 | 8,358 | 8,789 | |
| 3,823 | 5,660 | 5,935 | 5,931 | 5,755 | 7,316 | 6,981 | 7,792 | |
| Total Liabilities | 8,727 | 16,339 | 15,886 | 14,925 | 13,798 | 21,984 | 20,655 | 21,238 |
| 8,366 | 14,819 | 14,134 | 13,322 | 12,403 | 20,339 | 19,195 | 18,376 | |
| CWIP | 2 | 4 | 2 | 8 | 1 | 97 | 111 | 0 |
| Investments | 245 | 47 | 10 | 467 | 11 | 0 | 0 | 0 |
| 113 | 1,470 | 1,740 | 1,128 | 1,383 | 1,548 | 1,348 | 2,862 | |
| Total Assets | 8,727 | 16,339 | 15,886 | 14,925 | 13,798 | 21,984 | 20,655 | 21,238 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 373 | 532 | 1,060 | 1,065 | 820 | 1,486 | 1,595 | 1,867 | |
| -353 | -137 | -339 | -404 | 403 | -7,374 | -242 | -46 | |
| 10 | 304 | -686 | -1,108 | -933 | 6,071 | -1,728 | -1,397 | |
| Net Cash Flow | 30 | 699 | 35 | -447 | 290 | 183 | -375 | 424 |
| Free Cash Flow | 370 | 523 | 1,055 | 1,055 | 837 | 1,377 | 1,527 | 1,821 |
| CFO/OP | 228% | 180% | 127% | 129% | 76% | 84% | 75% | 80% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 2 | 3 | 10 | 16 | 16 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 2 | 3 | 10 | 16 | 16 |
| Working Capital Days | -200 | -259 | -220 | -267 | -215 | -176 | -215 | -425 |
| ROCE % | -0% | 3% | 3% | 5% | 10% | 9% | 11% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Number of Road Projects (SPVs) count |
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| Number of States (Geographic Presence) count |
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| Toll Collections Rs. crore |
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| Total Lane km of Network lane km |
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| Lotus/Maserati Pool Toll Revenue Rs. crore |
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| Major Maintenance Expenses Rs. crore |
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| Rosewood Pool Toll Revenue Rs. crore |
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Extracted by Screener AI
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
- Interise Trust fully repaid ₹1,727.10 crore commercial papers on September 2, 2026.
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Reg 23(5)(i): Disclosure of material issue
- Interise Trust allotted 34,726 commercial papers aggregating Rs. 1,736.30 crore for 29 days on September 2, 2026.
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Reg 23(5)(i): Disclosure of material issue
- Krishnagiri Thopur Toll Road SPV concession ended on Aug. 23, 2026; toll revenues handed over to NHAI.
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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
- ICRA revalidated Interise Trust’s commercial paper rating A1+ for up to Rs 1,800 crore issuance.
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Reg 23(5)(i): Disclosure of material issue
- Committee approved issuance of commercial papers up to Rs. 1,800 crore in tranches.
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.