India Infrastructure Trust
India Infrastructure Trust was set up by Rapid Holdings 2 Pte Ltd as an Infrastructure investment trust. The investment objective of the Trust is to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations. [1]
- Market Cap ₹ 6,109 Cr.
- Current Price ₹ 92.0
- High / Low ₹ 102 / 85.0
- Stock P/E 7.50
- Book Value ₹ 38.0
- Dividend Yield %
- ROCE 10.8 %
- ROE 31.4 %
- Face Value ₹
Pros
- Company has delivered good profit growth of 60.2% CAGR over last 5 years
Cons
- 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.
Peer comparison
Sector: Infrastructure Investment Trusts Industry: Construction
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 28 | 2,407 | 1,792 | 2,592 | 2,744 | 3,666 | |
| 69 | 1,165 | 811 | 628 | 697 | 1,480 | |
| Operating Profit | -42 | 1,242 | 980 | 1,964 | 2,047 | 2,186 |
| OPM % | -149% | 52% | 55% | 76% | 75% | 60% |
| 5 | 37 | 32 | 41 | 45 | 161 | |
| Interest | 15 | 675 | 586 | 590 | 591 | 607 |
| Depreciation | 21 | 835 | 852 | 864 | 953 | 917 |
| Profit before tax | -72 | -231 | -425 | 551 | 547 | 823 |
| Tax % | -32% | 9% | -0% | 0% | 0% | 0% |
| -95 | -209 | -427 | 549 | 546 | 822 | |
| EPS in Rs | -1.43 | -3.15 | -6.43 | 8.27 | 8.22 | 12.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 165% |
| 3 Years: | 27% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 60% |
| 3 Years: | 57% |
| TTM: | 52% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -11% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 21% |
| Last Year: | 31% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6,640 | 6,045 | 5,581 | 5,158 | 4,708 | 4,228 |
| Reserves | -95 | -765 | -1,853 | -1,983 | -2,035 | -1,706 |
| Preference Capital | 4,045 | 4,045 | 4,006 | 6 | 7 | 8 |
| 6,338 | 6,427 | 6,462 | 6,466 | 6,468 | 6,472 | |
| 4,522 | 5,308 | 6,177 | 6,144 | 5,777 | 5,690 | |
| Total Liabilities | 17,405 | 17,014 | 16,367 | 15,784 | 14,919 | 14,684 |
| 16,881 | 16,082 | 15,297 | 14,456 | 13,583 | 12,709 | |
| CWIP | 9 | 13 | 27 | 72 | 37 | 50 |
| Investments | 2 | 303 | 441 | 595 | 20 | 415 |
| 513 | 616 | 601 | 661 | 1,279 | 1,510 | |
| Total Assets | 17,405 | 17,014 | 16,367 | 15,784 | 14,919 | 14,684 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| -77 | 1,870 | 2,046 | 1,875 | 1,600 | 2,079 | |
| -16,845 | -293 | -221 | -326 | 416 | -295 | |
| 17,010 | -1,651 | -1,748 | -1,639 | -1,628 | -1,570 | |
| Net Cash Flow | 88 | -74 | 77 | -90 | 388 | 213 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 1,889 | 17 | 25 | 16 | 19 | 20 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 1,889 | 17 | 25 | 16 | 19 | 20 |
| Working Capital Days | 259 | -15 | -143 | -158 | -155 | -94 |
| ROCE % | 3% | 1% | 8% | 8% | 11% |
Trust Sponsor
The Sponsor of the Trust is Rapid Holdings 2 Pte Ltd, incorporated in Singapore. The Sponsor is part of the Brookfield Asset Management Inc. (“BAM”) group. BAM is a global alternative asset manager, with approximately US$332 billion of assets under management worldwide. [1]