Vertis Infrastructure Trust
Vertis Infrastructure Trust (VIT) is an InvIT of road sector assets sponsored by Galaxy, which is invested in by funds, vehicles and/or entities managed and/or advised by KKR, with VFA as its investment manager, VPM, a 100% subsidiary of VFA, acting as project manager and Axis Trustee Services Ltd acting as trustee.[1]
- Market Cap ₹ 16,474 Cr.
- Current Price ₹ 109
- High / Low ₹ 110 / 98.2
- Stock P/E 13.1
- Book Value ₹ 71.5
- Dividend Yield 0.00 %
- ROCE 13.6 %
- ROE 16.6 %
- Face Value ₹ 100
Pros
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 401%
Cons
- Promoter holding has decreased over last quarter: -13.9%
- Tax rate seems low
* 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 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 322 | 506 | 1,700 | 1,808 | |
| 18 | 51 | 26 | 288 | |
| Operating Profit | 305 | 456 | 1,674 | 1,520 |
| OPM % | 94% | 90% | 98% | 84% |
| -202 | -481 | -463 | -67 | |
| Interest | 58 | 173 | 309 | 287 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 44 | -198 | 902 | 1,167 |
| Tax % | 4% | 3% | 0% | |
| 43 | -205 | 898 | 1,165 | |
| EPS in Rs | 1.03 | -2.75 | 5.95 | 8.94 |
| Dividend Payout % | 1,579% | -554% | 176% |
| Compounded Sales Growth | |
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| TTM: | 34% |
| Compounded Profit Growth | |
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| TTM: | 19% |
| Stock Price CAGR | |
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| Return on Equity | |
|---|---|
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| Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 4,155 | 6,859 | 12,861 | 12,861 |
| Reserves | -572 | -1,277 | -1,896 | -2,059 |
| 1,425 | 3,564 | 4,786 | 10,842 | |
| 7 | 76 | 13 | 252 | |
| Total Liabilities | 5,016 | 9,222 | 15,765 | 21,895 |
| 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 3,645 | 5,284 | 4,193 | 5,434 |
| 1,370 | 3,938 | 11,572 | 16,462 | |
| Total Assets | 5,016 | 9,222 | 15,765 | 21,895 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| -13 | -53 | -46 | |
| -1,129 | -4,098 | -4,979 | |
| 1,168 | 4,170 | 5,000 | |
| Net Cash Flow | 27 | 20 | -24 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 0 | 0 | 0 |
| Inventory Days | |||
| Days Payable | |||
| Cash Conversion Cycle | 0 | 0 | 0 |
| Working Capital Days | 81 | -124 | -3 |
| ROCE % | 7% | 14% |
Documents
Announcements
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Updates
23 December 2025 - Paid Rs 6,80,46,395 interest; fully redeemed Rs 388,00,00,000 NCDs on 22/12/2025.
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Updates
16 December 2025 - Vertis Infrastructure Trust redeemed ₹275 crore CP (5,500 units, ISIN INE0KXY14030) on December 16, 2025.
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Updates
15 December 2025 - Allotment of 14,000 CPs aggregating INR 700,00,00,000; tenor 172 days; maturity June 05, 2026; CRISIL A1+.
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Updates
5 December 2025 - Approved issuance of up to 14,000 commercial papers totaling INR 700 crore on December 05, 2025.
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Disclosure of details of any credit rating obtained by the InvIT and any change in such rating
5 December 2025 - CRISIL reaffirmed VIT ratings: AAA/Stable on loans/NCDs, A1+ CP; bank facilities Rs9,697 crore; CP Rs975 crore
Annual reports
No data available.
Concalls
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Nov 2025Transcript PPT
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Aug 2025TranscriptAI SummaryPPT
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May 2025TranscriptAI SummaryPPT
Structure of InvIT[1]
Sponsors: KKR is the sponsor of the InvIT, a leading global investment firm with $684 billion of AUM as on September 30, 2025.[2]
Investment Manager: Vertis Fund Advisor Private Limited is the Investment Manager responsible for managing investments / portfolio and regulatory compliance.
Project Manager: Vertis Project Manager Private Limited is the Project Manager responsible for overseeing the operations and maintenance of Project SPVs while ensuring compliance with laws.