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
- Book Value ₹ 128
- Dividend Yield 0.96 %
- ROCE 5.40 %
- ROE -2.29 %
- Face Value ₹ 100
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -3.83% over last 3 years.
- Promoters have pledged or encumbered 37.9% of their holding.
- Working capital days have increased from -29.8 days to 255 days
* 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 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 1,240 | 2,691 | 3,893 | 5,335 | 6,165 | |
| 643 | 1,641 | 2,949 | 3,089 | 3,376 | |
| Operating Profit | 597 | 1,050 | 944 | 2,246 | 2,789 |
| OPM % | 48% | 39% | 24% | 42% | 45% |
| 10 | 26 | 84 | 95 | 25 | |
| Interest | 954 | 1,026 | 1,447 | 2,201 | 2,468 |
| Depreciation | 167 | 281 | 365 | 454 | 465 |
| Profit before tax | -515 | -230 | -784 | -315 | -119 |
| Tax % | -14% | -1% | -15% | -3% | |
| -444 | -227 | -665 | -305 | -148 | |
| EPS in Rs | -5.67 | -2.63 | -1.25 | ||
| Dividend Payout % | 0% | 0% | -93% | -82% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 63% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 8% |
| TTM: | 53% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -4% |
| Last Year: | -2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 8,550 | 8,793 | 13,509 | 15,089 | 15,623 |
| Reserves | -811 | -1,040 | -72 | -168 | -601 |
| 9,728 | 10,508 | 21,532 | 19,207 | 22,347 | |
| 5,690 | 6,087 | 5,207 | 12,229 | 9,569 | |
| Total Liabilities | 23,157 | 24,348 | 40,176 | 46,357 | 46,937 |
| 22,247 | 22,903 | 31,764 | 26,401 | 38,212 | |
| CWIP | 129 | 242 | 6,482 | 5,134 | 0 |
| Investments | 66 | 128 | 152 | 187 | 103 |
| 715 | 1,074 | 1,777 | 14,635 | 8,622 | |
| Total Assets | 23,157 | 24,348 | 40,176 | 46,357 | 46,937 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 1,988 | 1,351 | 239 | 2,890 | |
| -1,831 | -1,380 | -16,033 | -3,538 | |
| -170 | 73 | 15,881 | 826 | |
| Net Cash Flow | -13 | 44 | 87 | 177 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 2 | 1 | 1 | 1 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 2 | 1 | 1 | 1 |
| Working Capital Days | -461 | -270 | -75 | 255 |
| ROCE % | 4% | 2% | 5% |
Documents
Announcements
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Updates
9 December 2025 - November 2025 gross toll revenue Rs 3,133m, up ~19% YoY; three SPVs transferred Nov 1, 2025.
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Disclosure of details of any credit rating obtained by the InvIT and any change in such rating
18 November 2025 - CRISIL reaffirmed CRISIL AAA rating with Stable outlook; removed from Rating Watch (Nov 17, 2025).
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Disclosure of Valuation report
18 November 2025 - NAV INR 313.34/unit; Equity value INR 36,727 crore; EV INR 63,573 crore as of Sep 30, 2025.
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Updates
15 November 2025 - Won NHAI TOT 17; 366.096 km; Rs.9,270 Crore upfront fee; 20-year concession.
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Outcome of Board Meeting
12 November 2025 - Declared Re.0.44/unit distribution (Re.0.30 interest, Re.0.14 capital); record date Nov 14; payment by Nov 21; NAV Rs.313.34.
Annual reports
No data available.