IRB InvIT Fund

₹ 55.2 0.22%
01 Jul - close price
About

IRB InvIT Fund is a trust established by its Sponsor & Project Manager, It is a private highway infrastructure developer in India. It has been set up to own, operate and maintain a portfolio of toll road concessions, managing 7 operational road assets at present, with an aggregate value of approximately Rs. 7250 Cr. spread across the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, and Punjab with a Weighted Average life of Assets under InvIT Portfolio of around 16 years. [1]
The Investment Manager of the Trust is IRB Infrastructure Pvt Ltd which has 18 years of experience in operating a road BOT project and is also experienced in developing, operating, and maintaining toll plazas. [2]

Key Points

Investment Trust
InvIT is an asset class specifically pertaining to the infrastructure space. It is a collective investment vehicle that pools together funds from long-term investors to acquire income-generating infrastructure assets from developers[1]

  • Market Cap 3,203 Cr.
  • Current Price 55.2
  • High / Low 60.4 / 51.9
  • Stock P/E 10.7
  • Book Value 71.3
  • Dividend Yield %
  • ROCE 7.71 %
  • ROE 7.04 %
  • Face Value

Pros

  • Stock is trading at 0.77 times its book value

Cons

  • Tax rate seems low
  • Company has a low return on equity of 4.69% for 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Dec 2021
306 321 319 413 323 318 202 295 323 350 336 348
58 64 69 71 58 62 57 57 55 59 62 66
Operating Profit 248 256 250 342 265 256 145 238 268 291 275 282
OPM % 81% 80% 78% 83% 82% 80% 72% 81% 83% 83% 82% 81%
5 5 3 13 7 -2 -3 1 10 -16 1 0
Interest 41 40 42 47 41 39 38 37 36 35 35 36
Depreciation 160 163 168 257 175 173 80 153 185 190 129 225
Profit before tax 52 58 44 50 56 42 24 49 58 50 111 22
Tax % 1% 1% 2% 2% -1% -1% -0% 0% 0% 0% 3% 22%
Net Profit 52 58 43 49 57 43 24 49 58 50 108 17
EPS in Rs 0.90 0.99 0.74 0.85 0.98 0.73 0.41 0.84 1.00 0.86 1.86 0.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 992 1,213 1,241 1,143 1,392
0 185 233 247 226 242
Operating Profit 0 807 979 993 917 1,150
OPM % 81% 81% 80% 80% 83%
0 13 21 30 18 9
Interest 0 100 160 164 146 142
Depreciation 0 487 641 685 608 681
Profit before tax 0 233 199 173 181 336
Tax % 0% 1% 0% -0% 10%
Net Profit 0 232 198 173 181 303
EPS in Rs 4.00 3.41 2.98 3.12 5.21
Dividend Payout % 263% 347% 314% 250% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 5%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 18%
TTM: 71%
Stock Price CAGR
10 Years: %
5 Years: -10%
3 Years: -6%
1 Year: -1%
Return on Equity
10 Years: %
5 Years: 5%
3 Years: 5%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 5,799 5,608 5,428 5,312 5,103
Reserves 0 -183 -499 -802 -959 -963
0 1,772 1,799 1,765 1,899 1,896
0 6,617 6,420 6,203 5,989 5,923
Total Liabilities 0 14,005 13,327 12,594 12,241 11,958
0 13,627 12,975 12,290 11,629 10,951
CWIP 0 3 0 0 2 1
Investments 0 215 227 53 159 215
0 160 125 250 450 790
Total Assets 0 14,005 13,327 12,594 12,241 11,958

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0 855 940 870 929 1,027
0 -5,825 -142 112 -494 -378
0 5,064 -878 -806 -581 -679
Net Cash Flow 0 93 -79 176 -146 -30

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0
Working Capital Days -142 -152 -149 -201 -192
ROCE % 9% 5% 5% 5% 8%

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

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