Interise Trust
IndInfravit was established by L&T Infrastructure Development Projects Limited on March 7, 2018, as an irrevocable Trust. It is registered as an infrastructure investment trust under the SEBI (InvIT) Regulations on March 15, 2018.[1]
- Market Cap ₹ 11,440 Cr.
- Current Price ₹ 110
- High / Low ₹ 110 / 110
- Stock P/E 13.4
- Book Value ₹ 68.7
- Dividend Yield 2.10 %
- ROCE 9.72 %
- ROE 11.5 %
- Face Value ₹ 100
Pros
- Company has delivered good profit growth of 63.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 171%
Cons
- Tax rate seems low
- Company has a low return on equity of 7.71% 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 391 | 455 | 867 | 966 | 992 | 1,278 | 1,514 | 1,623 | 1,637 | |
| 14 | 311 | 603 | 1,063 | 1,327 | 434 | 324 | 135 | 122 | |
| Operating Profit | 377 | 144 | 264 | -97 | -335 | 844 | 1,190 | 1,488 | 1,515 |
| OPM % | 96% | 32% | 30% | -10% | -34% | 66% | 79% | 92% | 93% |
| 1 | 4 | 10 | 9 | 6 | 202 | 4 | 6 | 4 | |
| Interest | 52 | 63 | 201 | 316 | 340 | 630 | 683 | 676 | 661 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 325 | 86 | 74 | -404 | -669 | 416 | 511 | 818 | 858 |
| Tax % | 0% | 2% | 6% | 1% | 1% | 2% | 0% | 0% | |
| 325 | 84 | 69 | -408 | -675 | 406 | 510 | 815 | 856 | |
| EPS in Rs | 8.78 | 1.35 | 1.12 | -6.58 | -10.89 | 3.90 | 4.90 | 7.82 | 8.21 |
| Dividend Payout % | 0% | 0% | 0% | 0% | -108% | 331% | 165% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 18% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 64% |
| 3 Years: | 48% |
| TTM: | 64% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 8% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3,700 | 6,624 | 6,624 | 6,624 | 6,624 | 10,886 | 10,886 | 10,886 |
| Reserves | 147 | -145 | -210 | -1,187 | -2,414 | -3,585 | -3,841 | -3,726 |
| 566 | 2,217 | 2,192 | 3,960 | 3,976 | 8,032 | 7,774 | 8,761 | |
| 2 | 145 | 68 | 50 | 53 | 35 | 27 | 26 | |
| Total Liabilities | 4,415 | 8,840 | 8,673 | 9,447 | 8,239 | 15,367 | 14,846 | 15,947 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 2 | 2 | 2 | 0 | 0 | 0 | 0 |
| Investments | 1,080 | 1,847 | 1,748 | 1,720 | 1,274 | 5,676 | 5,570 | 5,569 |
| 3,335 | 6,991 | 6,924 | 7,725 | 6,965 | 9,690 | 9,275 | 10,377 | |
| Total Assets | 4,415 | 8,840 | 8,673 | 9,447 | 8,239 | 15,367 | 14,846 | 15,947 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -2,956 | -2,741 | 590 | -1,092 | -85 | -121 | -70 | -74 | |
| -524 | -262 | -207 | -172 | 1,193 | -6,156 | 1,714 | 1,506 | |
| 3,481 | 3,411 | -359 | 884 | -876 | 6,111 | -1,705 | -1,389 | |
| Net Cash Flow | 0 | 409 | 24 | -380 | 232 | -166 | -61 | 43 |
| Free Cash Flow | -2,956 | -2,742 | 590 | -1,092 | -83 | -122 | -70 | -74 |
| CFO/OP | -785% | -1,903% | 225% | 1,124% | 24% | -13% | -6% | -5% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 247 | 1,232 | 892 | 1,054 | 1,171 | 1,318 | 539 | -46 |
| ROCE % | 2% | 3% | -1% | -4% | 7% | 8% | 10% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Number of Road Projects (SPVs) count |
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| Number of States (Geographic Presence) count |
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| Toll Collections Rs. crore |
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| Total Lane km of Network lane km |
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| Lotus/Maserati Pool Toll Revenue Rs. crore |
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| Major Maintenance Expenses Rs. crore |
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| Rosewood Pool Toll Revenue Rs. crore |
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Extracted by Screener AI
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
- Interise Trust fully repaid ₹1,727.10 crore commercial papers on September 2, 2026.
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Reg 23(5)(i): Disclosure of material issue
- Interise Trust allotted 34,726 commercial papers aggregating Rs. 1,736.30 crore for 29 days on September 2, 2026.
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Reg 23(5)(i): Disclosure of material issue
- Krishnagiri Thopur Toll Road SPV concession ended on Aug. 23, 2026; toll revenues handed over to NHAI.
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Reg 23(5)(d): Disclosure of details of any credit rating obtained by the InvIT and any change in such rating
- ICRA revalidated Interise Trust’s commercial paper rating A1+ for up to Rs 1,800 crore issuance.
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Reg 23(5)(i): Disclosure of material issue
- Committee approved issuance of commercial papers up to Rs. 1,800 crore in tranches.
InvITs structure[1] IndInfravit Trust is registered with SEBI as an Infrastructure Investment Trust. It is a collective investment vehicle that pools together funds from long-term investors to acquire income-generating infrastructure assets from developers. InvlTs are managed by an independent trustee and investment managers, whose Board comprises at least 50% of independent directors.