IndiGrid Infrastructure Trust

176.080.32%

2026-08-21

indigrid.co.inBSE: 540565NSE: INDIGRID
Market Cap₹ 0 Cr.
Current Price₹ 132
High / Low₹ 181 / 159
Stock P/E
Book Value
Price to Book2.30
Dividend Yield0.00 %
ROCE8.0 %
ROE7.1 %
Face Value₹ 121

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Power Transmission: 82.8% • Power Generation: 17.2%

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 2391.0% YoY, showing strong momentum
  • Company has consistently been profitable over the last 5 years
  • Company has delivered good sales growth of 22.8% CAGR over last 5 years

CONS

  • Capital adequacy is tight at 0.0% - limited headroom to grow
  • A large part of profit comes from other income (40.5% of PBT)
  • Company has a low return on capital employed of 7.7%
  • Company has a low return on equity of 6.9% over last 3 years
  • Equity base is being diluted - shares outstanding up 55.4%
  • Operating margins have contracted to 64.2% from 91.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.BAJAJFINSV2010.0031.74322014.330.076296.6718.1542036.9092.2211.8840.79
2.AIIL549.8522.2646694.660.0011082.201075.1914695.401109.3730.2788.91
3.CHOLAHLDNG1558.3510.9629262.300.081788.9942.0411113.5742.9210.5257.53
4.TVSHLTD13946.9514.3228217.610.621173.5873.7717076.1840.0119.3916.25
5.CGCL226.4019.3221783.170.09353.38102.041576.4762.1211.1868.54
6.MAHSCOOTER13359.100.0015267.541.653.32-90.615.41-81.521.0684.10
7.JSWHL11370.6091.8712620.940.0024.54-92.7434.5814.970.5892.45
8.JMFINANCIL126.4511.6312100.762.57368.57-19.661200.539.6911.9158.30
9.TSFINV414.7018.929210.652.69124.95-92.11305.57102.233.4753.35
10.RELIGARE230.10144.407932.320.00-46.98-674.862353.401051.7611.46-2.08
11.KAMAHOLD2440.108.417830.421.70584.0210.804657.567.0720.8622.01
12.INDIGRID176.600.000.000.002459.3710866.551248.267.9980.21
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024
806
77
Operating Profit
OPM %
Other Income
34
Interest
384
Depreciation
276
103
Tax %
4.50%
Net Profit
0
1
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
840
799
Operating Profit
OPM %
Other Income
33
Interest
380
Depreciation
275
74
Tax %
-1.72%
Net Profit
75
0
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
827
113
Operating Profit
OPM %
Other Income
37
Interest
425
Depreciation
291
35
Tax %
-9.09%
Net Profit
39
1
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
10,867
9,124
Operating Profit
OPM %
Other Income
633
Interest
3,960
Depreciation
3,014
2,376
Tax %
-3.53%
Net Profit
2,459
3
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
0
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
1,705
256
Operating Profit
1,458
OPM %
86
Other Income
9
Interest
687
Depreciation
430
342
Tax %
2
Net Profit
334
EPS
6
Dividend Payout %
211
Minority Interest
-1
Share of Associates
0
Adjusted EPS
6
Minority Interest
-1
Share of Associates
0
Adjusted EPS
6
Mar 2022
2,257
214
Operating Profit
2,066
OPM %
92
Other Income
23
Interest
1,050
Depreciation
665
349
Tax %
2
Net Profit
343
EPS
5
Dividend Payout %
254
Minority Interest
5
Share of Associates
0
Adjusted EPS
5
Minority Interest
5
Share of Associates
0
Adjusted EPS
5
Mar 2023
2,392
230
Operating Profit
2,184
OPM %
91
Other Income
22
Interest
1,011
Depreciation
704
469
Tax %
1
Net Profit
466
EPS
7
Dividend Payout %
193
Minority Interest
-10
Share of Associates
0
Adjusted EPS
7
Minority Interest
-10
Share of Associates
0
Adjusted EPS
7
Mar 2024
2,966
425
Operating Profit
2,562
OPM %
86
Other Income
22
Interest
1,308
Depreciation
939
315
Tax %
6
Net Profit
296
EPS
4
Dividend Payout %
378
Minority Interest
-11
Share of Associates
0
Adjusted EPS
4
Minority Interest
-11
Share of Associates
0
Adjusted EPS
4
Mar 2025
3,288
398
Operating Profit
3,040
OPM %
92
Other Income
150
Interest
1,495
Depreciation
1,101
444
Tax %
8
Net Profit
411
EPS
5
Dividend Payout %
321
Minority Interest
-12
Share of Associates
0
Adjusted EPS
5
Minority Interest
-12
Share of Associates
0
Adjusted EPS
5
Mar 2026
4,768
1,706
Operating Profit
3,244
OPM %
68
Other Income
182
Interest
1,651
Depreciation
1,145
449
Tax %
11
Net Profit
399
EPS
5
Dividend Payout %
0
Minority Interest
-5
Share of Associates
0
Adjusted EPS
5
Minority Interest
-5
Share of Associates
0
Adjusted EPS
5
TTM
13,339
10,112
Operating Profit
OPM %
Other Income
737
Interest
5,148
Depreciation
3,856
2,588
Tax %
-3
Net Profit
2,672
EPS
Dividend Payout %
Minority Interest
30
Share of Associates
0
Adjusted EPS
Minority Interest
30
Share of Associates
0
Adjusted EPS

COMPOUNDED SALES GROWTH

10 Years:
5 Years:
23%
3 Years:
26%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
3%
3 Years:
-5%

STOCK PRICE CAGR

10 Years:
5 Years:
7%
3 Years:
12%
1 Year:
39%

RETURN ON EQUITY

10 Years:
5 Years:
7%
3 Years:
7%
Last Year:
7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 17

2026

May 19

Income Distribution (InvIT)

2026

Feb 17

2025

Nov 14

Income Distribution (InvIT)

2025

Jul 29

Income Distribution (InvIT)

2025

May 20

Income Distribution (InvIT)

2025

Jan 28

2024

Oct 30

2024

Jul 30

2024

May 30

2023

Aug 3

2023

May 18

2021

Nov 1

2021

Aug 4

2021

Jun 1

Mar 2021
Equity Capital
5,315
-632
973
Trade Payables
23
14,358
Total Liabilities
20,035
16,390
Capital Work in Progress
10
0
0
0
Cash & Bank
2,784
852
Total Assets
20,035
Total Debt
14,576
Net Working Capital
1,831
Contingent Liabilities
0
Book Value per Share
80.25
Face Value
91.08
Total Debt
14,576
Net Working Capital
1,831
Contingent Liabilities
0
Book Value per Share
80.25
Face Value
91.08
Mar 2022
Equity Capital
6,590
-1,172
2,204
Trade Payables
49
11,887
Total Liabilities
19,557
16,838
Capital Work in Progress
4
145
0
0
Cash & Bank
1,504
1,066
Total Assets
19,557
Total Debt
13,335
Net Working Capital
-468
Contingent Liabilities
86
Book Value per Share
77.38
Face Value
94.12
Total Debt
13,335
Net Working Capital
-468
Contingent Liabilities
86
Book Value per Share
77.38
Face Value
94.12
Mar 2023
Equity Capital
6,590
-1,633
926
Trade Payables
75
14,254
Total Liabilities
20,212
17,841
Capital Work in Progress
78
446
5
0
Cash & Bank
704
1,138
Total Assets
20,212
Total Debt
14,493
Net Working Capital
455
Contingent Liabilities
78
Book Value per Share
70.80
Face Value
94.12
Total Debt
14,493
Net Working Capital
455
Contingent Liabilities
78
Book Value per Share
70.80
Face Value
94.12
Mar 2024
Equity Capital
7,645
-2,355
888
Trade Payables
108
19,472
Total Liabilities
25,757
22,710
Capital Work in Progress
23
742
26
802
Cash & Bank
432
1,023
Total Assets
25,757
Total Debt
19,270
Net Working Capital
591
Contingent Liabilities
78
Book Value per Share
67.50
Face Value
97.55
Total Debt
19,270
Net Working Capital
591
Contingent Liabilities
78
Book Value per Share
67.50
Face Value
97.55
Mar 2025
Equity Capital
8,332
-3,169
1,078
Trade Payables
71
20,115
Total Liabilities
26,427
22,028
Capital Work in Progress
59
1,900
29
707
Cash & Bank
509
1,196
Total Assets
26,427
Total Debt
20,046
Net Working Capital
70
Contingent Liabilities
79
Book Value per Share
61.87
Face Value
99.84
Total Debt
20,046
Net Working Capital
70
Contingent Liabilities
79
Book Value per Share
61.87
Face Value
99.84
Mar 2026
Equity Capital
10,244
-4,171
2,217
Trade Payables
1,013
20,430
Total Liabilities
29,731
23,708
Capital Work in Progress
443
1,228
33
780
Cash & Bank
350
3,190
Total Assets
29,731
Total Debt
21,289
Net Working Capital
-860
Contingent Liabilities
78
Book Value per Share
71.74
Face Value
121.03
Total Debt
21,289
Net Working Capital
-860
Contingent Liabilities
78
Book Value per Share
71.74
Face Value
121.03

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
1,680
Cash from Investing
-5,897
Cash from Financing
6,415
2,198
Free Cash Flow
1,680
OCF / Net Profit
5.02
Cumulative 5-Year FCF
0
OCF / Net Profit
5.02
Cumulative 5-Year FCF
0
Mar 2022
2,081
Cash from Investing
-1,517
Cash from Financing
-1,983
-1,419
Free Cash Flow
962
OCF / Net Profit
6.06
Cumulative 5-Year FCF
0
OCF / Net Profit
6.06
Cumulative 5-Year FCF
0
Mar 2023
2,037
Cash from Investing
-2,119
Cash from Financing
-790
-872
Free Cash Flow
270
OCF / Net Profit
4.37
Cumulative 5-Year FCF
0
OCF / Net Profit
4.37
Cumulative 5-Year FCF
0
Mar 2024
2,663
Cash from Investing
-6,102
Cash from Financing
3,356
-83
Free Cash Flow
-3,088
OCF / Net Profit
8.98
Cumulative 5-Year FCF
0
OCF / Net Profit
8.98
Cumulative 5-Year FCF
0
Mar 2025
2,902
Cash from Investing
-1,780
Cash from Financing
-1,249
-127
Free Cash Flow
2,457
OCF / Net Profit
7.07
Cumulative 5-Year FCF
0
OCF / Net Profit
7.07
Cumulative 5-Year FCF
0
Mar 2026
3,377
Cash from Investing
-2,945
Cash from Financing
-452
-20
Free Cash Flow
175
OCF / Net Profit
8.46
Cumulative 5-Year FCF
776
OCF / Net Profit
8.46
Cumulative 5-Year FCF
776

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021
EPS (₹)
5.72
Book Value (₹)
80.25
Dividend per Share (₹)
12.10
Cash EPS (₹)
13.11
Operating Margin %
85.51%
Net Margin %
19.62%
ROE %
7.14%
ROCE %
5.34%
1.67%
Debtor Days
64
Inventory Days
0
Payable Days
0
64
Debt to Equity (x)
3.11x
Interest Coverage (x)
1.50x
2.23x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
4.98
Book Value (₹)
77.38
Dividend per Share (₹)
12.66
Cash EPS (₹)
14.41
Operating Margin %
91.51%
Net Margin %
15.21%
ROE %
6.80%
ROCE %
7.36%
1.73%
Debtor Days
56
Inventory Days
0
Payable Days
0
56
Debt to Equity (x)
2.46x
Interest Coverage (x)
1.33x
0.83x
Revenue Growth %
32.39%
Operating Profit Growth %
41.69%
Net Profit Growth %
2.65%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
6.51
Book Value (₹)
70.80
Dividend per Share (₹)
12.57
Cash EPS (₹)
16.71
Operating Margin %
91.29%
Net Margin %
19.47%
ROE %
8.98%
ROCE %
7.75%
2.34%
Debtor Days
62
Inventory Days
1
Payable Days
0
62
Debt to Equity (x)
2.92x
Interest Coverage (x)
1.46x
1.31x
Revenue Growth %
5.98%
Operating Profit Growth %
5.72%
Net Profit Growth %
35.69%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
3.64
Book Value (₹)
67.50
Dividend per Share (₹)
13.75
Cash EPS (₹)
15.77
Operating Margin %
85.66%
Net Margin %
10.00%
ROE %
5.79%
ROCE %
7.37%
1.29%
Debtor Days
75
Inventory Days
2
Payable Days
0
77
Debt to Equity (x)
3.64x
Interest Coverage (x)
1.24x
1.33x
Revenue Growth %
23.97%
Operating Profit Growth %
17.33%
Net Profit Growth %
-36.35%
-44.03%
P/E (x)
36.47x
P/B (x)
1.97x
Dividend Yield %
10.36%
11.41x
Mar 2025
EPS (₹)
4.77
Book Value (₹)
61.87
Dividend per Share (₹)
15.33
Cash EPS (₹)
18.11
Operating Margin %
87.90%
Net Margin %
12.49%
ROE %
7.85%
ROCE %
7.79%
1.57%
Debtor Days
84
Inventory Days
3
Payable Days
0
87
Debt to Equity (x)
3.88x
Interest Coverage (x)
1.30x
1.02x
Revenue Growth %
10.86%
Operating Profit Growth %
18.65%
Net Profit Growth %
38.46%
31.09%
P/E (x)
29.48x
P/B (x)
2.27x
Dividend Yield %
10.89%
10.29x
Mar 2026
EPS (₹)
4.66
Book Value (₹)
71.74
Dividend per Share (₹)
0.00
Cash EPS (₹)
18.24
Operating Margin %
64.22%
Net Margin %
8.37%
ROE %
7.10%
ROCE %
7.99%
1.42%
Debtor Days
57
Inventory Days
2
Payable Days
0
59
Debt to Equity (x)
3.51x
Interest Coverage (x)
1.27x
0.78x
Revenue Growth %
45.04%
Operating Profit Growth %
6.72%
Net Profit Growth %
-2.80%
-2.42%
P/E (x)
35.50x
P/B (x)
2.30x
Dividend Yield %
0.00%
10.77x

Shareholding Pattern

Numbers in percentages

TRADES
Mar 2017
100.00
FIIs
0.00
DIIs
0.00
Government
0.00
Public
0.00

Documents

Announcements

Nothing filed yet.

Credit Ratings

Nothing filed yet.

Concalls