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 271
- Book Value ₹ 44.7
- Dividend Yield 6.92 %
- ROCE 10.8 %
- ROE 0.85 %
- Face Value ₹ 100
Pros
- Stock is providing a good dividend yield of 6.92%.
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 | |
|---|---|---|---|---|---|---|---|---|
| 801 | 975 | 1,490 | 1,666 | 1,970 | 3,143 | 3,476 | 3,567 | |
| 633 | 664 | 644 | 813 | 824 | 1,272 | 1,240 | 1,071 | |
| Operating Profit | 168 | 311 | 846 | 854 | 1,146 | 1,871 | 2,236 | 2,496 |
| OPM % | 21% | 32% | 57% | 51% | 58% | 60% | 64% | 70% |
| 15 | 27 | 136 | 109 | 132 | 321 | 162 | 85 | |
| Interest | 420 | 587 | 902 | 941 | 973 | 1,349 | 1,423 | 1,373 |
| Depreciation | 281 | 349 | 587 | 643 | 764 | 1,079 | 1,131 | 1,118 |
| Profit before tax | -517 | -598 | -507 | -621 | -459 | -237 | -155 | 90 |
| Tax % | -5% | -20% | -7% | -16% | -13% | -34% | -54% | 53% |
| -491 | -480 | -470 | -524 | -401 | -157 | -71 | 42 | |
| EPS in Rs | -13.26 | -7.74 | -7.58 | -8.45 | -6.46 | -1.51 | -0.68 | 0.40 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 323% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 22% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 28% |
| TTM: | 142% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -3% |
| 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 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 ・Standalone data |
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| Individual Asset Revenue: Beawar Pali Pindwara (BPPTPL) INR Million ・Standalone data |
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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 ・Standalone data |
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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.