IRB Infrastructure Trust
IRB Infrastructure Trust is engaged in to invest in infrastructure assets primarily being in the road sector in India which in the context of Ind AS 108 - Operating Segments is considered as the only segment.
- Market Cap ₹ 24,526 Cr.
- Current Price ₹ 224
- High / Low ₹ /
- Stock P/E 9.85
- Book Value ₹ 167
- Dividend Yield 0.96 %
- ROCE 11.3 %
- ROE 10.1 %
- Face Value ₹ 100
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 27.7%
Cons
- Tax rate seems low
- Company has a low return on equity of 7.60% over last 3 years.
- Promoters have pledged 37.9% of their holding.
- Earnings include an other income of Rs.1,418 Cr.
* 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 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1,915 | |
| 222 | 67 | 513 | 160 | 147 | |
| Operating Profit | -222 | -67 | -513 | -160 | 1,768 |
| OPM % | 84% | 69% | 92% | ||
| 420 | 422 | 1,671 | 2,432 | 1,418 | |
| Interest | 0 | 0 | 254 | 560 | 593 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 198 | 355 | 904 | 1,712 | 2,594 |
| Tax % | 0% | 0% | 0% | 0% | |
| 198 | 355 | 904 | 1,712 | 2,490 | |
| EPS in Rs | 7.72 | 14.61 | 21.25 | ||
| Dividend Payout % | 0% | 0% | 68% | 15% |
| Compounded Sales Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | % |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 105% |
| TTM: | 91% |
| Stock Price CAGR | |
|---|---|
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| 5 Years: | % |
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| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 8% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 8,550 | 8,793 | 13,509 | 15,089 | 15,026 |
| Reserves | 599 | 953 | 1,805 | 3,434 | 4,513 |
| 361 | 487 | 6,235 | 100 | 159 | |
| 3,525 | 3,587 | 4,087 | 10,411 | 10,161 | |
| Total Liabilities | 13,036 | 13,819 | 25,636 | 29,034 | 29,859 |
| 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 9,095 | 9,444 | 6,984 | 5,602 | 5,801 |
| 3,941 | 4,375 | 18,652 | 23,432 | 24,059 | |
| Total Assets | 13,036 | 13,819 | 25,636 | 29,034 | 29,859 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -168 | -222 | -71 | 9 | |
| -207 | -145 | -10,074 | -986 | |
| 374 | 367 | 10,159 | 978 | |
| Net Cash Flow | -1 | 1 | 14 | 1 |
| Free Cash Flow | -168 | -222 | -71 | 9 |
| CFO/OP | 76% | 330% | 14% | -8% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | ||||
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | ||||
| Working Capital Days | ||||
| ROCE % | 4% | 7% | 11% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Consolidated Toll Collection Revenue Rs. Crore |
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| Number of Toll Road Assets Count |
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| Asset-wise Revenue: AE Tollway (Agra-Etawah) Rs. Crore |
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| Asset-wise Revenue: CG Tollway Rs. Crore |
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| Asset-wise Revenue: Yedeshi Aurangabad (YATL) Rs. Crore |
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| Portfolio Length Kilometers |
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Documents
Announcements
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Updates
1 April 2026 - IRB Trust SPV paid Rs.3,087 Cr concession; Appointed Date April 1, 2026; toll collection commenced.
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Trading Window
27 March 2026 - Trading window closed from April 1, 2026; reopens 48 hours after results for quarter/year ended March 31, 2026.
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Updates
24 March 2026 - Nitish Hemdani appointed Additional Non-Independent Director; Boon Chin Hau resigns, effective April 1, 2026.
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Updates
24 March 2026 - Definitive agreements signed Mar 24, 2026 to invest in TOT-18 (IRBCTPL); sponsor appointed project manager.
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Updates
20 March 2026 - Financial closure: Rs.2,385 Crore senior debt for TOT-18; Rs.3,087 Crore bid fee; 74.5km, 20-year concession.
Annual reports
No data available.