IndiGrid Infrastructure Trust
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Solid return on assets for a lender - ROA of 4.7%
- Asset quality is healthy - gross NPA of just 0.0%
- Latest quarter profit grew 4603.5% YoY, showing strong momentum
- Company has delivered good sales growth of 19.8% CAGR over last 5 years
- Attractively priced for its growth - PEG of 0.9
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Company has a low return on capital employed of 10.0%
- Equity base is being diluted - shares outstanding up 55.4%
- Effective tax rate is unusually low at 0.5% - earnings may be flattered
- Company has delivered a poor profit growth of 5.4% over past five years
- Thin net interest margin of 0.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1917.30 | 30.28 | 307163.22 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 546.65 | 22.13 | 46422.91 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.75 | 10.74 | 28650.15 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13000.05 | 13.35 | 26301.84 | 0.66 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 266.10 | 22.71 | 25602.92 | 0.08 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13002.55 | 53.35 | 14860.05 | 1.69 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11435.95 | 92.40 | 12693.48 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 124.75 | 11.48 | 11938.08 | 2.61 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 437.25 | 19.95 | 9711.49 | 2.55 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 256.95 | 161.25 | 8857.93 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2282.95 | 7.87 | 7326.12 | 1.82 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| INDIGRID | 174.00 | 0.00 | 0.00 | 0.00 | 2459.37 | — | 10866.55 | 1248.26 | 7.99 | 80.21 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Jun 2025 | Sep 2025 | Jun 2026 | |
|---|---|---|---|---|
| 687 | 696 | 778 | 8,454 | |
| 5 | 380 | 32 | 4,337 | |
| Operating Profit | 682 | 316 | 746 | 4,117 |
| OPM % | 99.29% | 45.37% | 95.87% | 48.70% |
| 20 | 22 | 20 | 602 | |
| Interest | 361 | 362 | 394 | 3,920 |
| Depreciation | 0 | 0 | 0 | 11 |
| Profit before Tax | 340 | 338 | 371 | 4,719 |
| Tax % | 0.52% | 0.08% | 0.01% | 1.60% |
| Net Profit | 338 | 338 | 371 | 4,644 |
| 4.32 | 4.05 | 4.44 | 4.88 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 1,257 | 2,047 | 2,229 | 2,717 | 2,720 | 3,101 | 10,614 | |
| 99 | 182 | 207 | 357 | 127 | 211 | 4,754 | |
| Operating Profit | 1,158 | 1,865 | 2,022 | 2,361 | 2,593 | 2,890 | 5,860 |
| OPM % | 92.12% | 91.10% | 90.72% | 86.87% | 95.35% | 93.21% | 55.21% |
| 350 | 2 | 0 | 0 | 92 | 73 | 664 | |
| Interest | 435 | 943 | 1,001 | 1,307 | 1,402 | 1,561 | 5,037 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 12 |
| Profit before Tax | 1,072 | 923 | 1,020 | 1,052 | 1,282 | 1,399 | 5,768 |
| Tax % | -0.01% | 0.26% | 0.31% | 0.30% | 0.11% | 0.51% | 1.35% |
| Net Profit | 1,072 | 921 | 1,017 | 1,049 | 1,281 | 1,392 | 5,691 |
| EPS | 18.38 | 13.29 | 14.52 | 13.39 | 15.34 | 16.45 | — |
| Dividend Payout % | 65.81% | 96.25% | 86.54% | 102.76% | 99.88% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 20%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 7%
- 3 Years:
- 12%
- 1 Year:
- 39%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 15%
- 3 Years:
- 15%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 6,590 | 6,590 | 7,645 | 8,332 | 10,244 |
| 229 | 330 | 358 | 440 | 431 | |
| 12,470 | 14,493 | 17,936 | 18,246 | 20,512 | |
| Trade Payables | 6 | 8 | 40 | 7 | 23 |
| 249 | 225 | 423 | 620 | 391 | |
| Total Liabilities | 19,544 | 21,646 | 26,402 | 27,646 | 31,601 |
| 8 | 7 | 6 | 5 | 6 | |
| 4,897 | 4,806 | 7,026 | 8,009 | 7,158 | |
| Cash & Bank | 1,017 | 506 | 122 | 173 | 96 |
| 13,623 | 16,327 | 19,249 | 19,459 | 24,341 | |
| Total Assets | 19,544 | 21,646 | 26,402 | 27,646 | 31,601 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -98 | -50 | -17 | -47 | -70 | -20 | |
| Cash from Investing | -5,083 | -1,280 | -675 | -2,523 | 1,394 | -963 |
| Cash from Financing | 5,661 | 1,428 | 106 | 2,382 | -1,302 | 978 |
| 478 | 94 | -590 | -188 | 22 | -5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for INDIGRID
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IndiGrid Infrastructure Trust
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