NDR INVIT Trust
Incorporated in 2023, NDR InvIT is an infrastructure investment trust which provides logistics and warehousing solutions[1]
- Market Cap ₹ 4,802 Cr.
- Current Price ₹ 121
- High / Low ₹ 124 / 105
- Stock P/E 33.2
- Book Value ₹ 96.1
- Dividend Yield 1.51 %
- ROCE 4.74 %
- ROE 3.46 %
- Face Value ₹ 100
Pros
- Company has been maintaining a healthy dividend payout of 133%
- Debtor days have improved from 97.4 to 26.9 days.
Cons
- Company has a low return on equity of 3.16% 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 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 170 | 217 | 43 | 324 | 379 | |
| 34 | 45 | 12 | 41 | 48 | |
| Operating Profit | 136 | 171 | 31 | 283 | 331 |
| OPM % | 80% | 79% | 72% | 87% | 87% |
| 4 | 12 | 5 | 13 | 23 | |
| Interest | 58 | 74 | 6 | 62 | 110 |
| Depreciation | 55 | 37 | 8 | 65 | 74 |
| Profit before tax | 28 | 72 | 22 | 169 | 170 |
| Tax % | 22% | 47% | 17% | 19% | |
| 22 | 38 | 18 | 137 | 145 | |
| EPS in Rs | 0.48 | 3.52 | 3.72 | ||
| Dividend Payout % | 0% | 0% | 206% | 192% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 24% |
| TTM: | 659% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 84% |
| TTM: | 618% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 130 | 127 | 3,818 | 3,691 | 3,725 |
| Reserves | 16 | 55 | 18 | 184 | 82 |
| 1,055 | 1,378 | 448 | 1,465 | 1,453 | |
| 259 | 329 | 252 | 268 | 275 | |
| Total Liabilities | 1,459 | 1,888 | 4,536 | 5,608 | 5,535 |
| 906 | 1,222 | 3,856 | 4,887 | 4,903 | |
| CWIP | 157 | 287 | 233 | 42 | 27 |
| Investments | 0 | 0 | 0 | 293 | 219 |
| 397 | 380 | 448 | 386 | 386 | |
| Total Assets | 1,459 | 1,888 | 4,536 | 5,608 | 5,535 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -53 | 226 | -53 | 280 | |
| -352 | -467 | -4,009 | -1,164 | |
| 420 | 248 | 4,133 | 832 | |
| Net Cash Flow | 15 | 6 | 72 | -52 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 38 | 32 | 233 | 27 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 38 | 32 | 233 | 27 |
| Working Capital Days | 11 | -279 | 170 | 27 |
| ROCE % | 11% | 1% | 5% |
Documents
Announcements
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Updates
14 November 2025 - NDR InvIT to acquire 100% of MLG Warehousing for INR 1,430 million; signed Nov 13, 2025.
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Outcome of Board Meeting
11 November 2025 - Approved Q2/H1 FY26 results; declared Rs1.825/unit distribution; record date Nov 14, 2025; valuation for MLG asset.
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Record Date
11 November 2025 - Approved Q2 Sep 30,2025 unaudited results; declared Rs1.825/unit distribution; record date Nov 14; valuation for MLG acquisition
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Disclosure of Valuation report
11 November 2025 - Approved Q2/H1 results; declared Rs1.825/unit distribution; record date Nov 14; valuation for proposed MLG Park acquisition.
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Press Release
11 November 2025 - Q2 FY26: rental income INR 1,036.05 Mn; distribution INR 722.72 Mn; AUM 19.22 mn sq.ft; NAV INR 133.75
Annual reports
No data available.
Concalls
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Aug 2025TranscriptNotesPPT
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Aug 2025TranscriptNotesPPT
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May 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Jan 2025TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Oct 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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Jul 2024TranscriptNotesPPT
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Jun 2024TranscriptNotesPPT
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May 2024TranscriptNotesPPT
Business Overview:[1][2]
a) Company specializes in logistics and warehousing solutions
b) It is an infrastructure investment trust sponsored by NDR.
c) The trust is proposed to invest in 33 warehousing assets with leasable area of 16.91 MSF, located across 12 cities in India, with an occupancy rate of ~98%
d) Company helps in first and last-mile delivery for its 85+clients in retail, e- commerce, 3PL, manufacturing, and imports and exports.