India Grid Trust Units Series - IV (IN:INDIGRID)
:INDIGRID
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India Grid Trust Units Series - IV
(INDIGRID)
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Rating:60Neutral
Price Target:
₹180.00
▲(4.09% Upside)
Action:N/A
Date:05/28/26
The score is held back mainly by high leverage and inconsistent free cash flow despite strong revenue momentum. Technicals are supportive with the price above key moving averages and positive MACD, while valuation is mixed—very high yield offset by a high P/E.
Positive Factors
Revenue growth momentum
Sustained high revenue growth (FY2026 acceleration) signals expanding utilization and scale in the transmission portfolio. Over 2-6 months this underpins higher potential distributable cash as assets mature and provides room to absorb cyclical pressures while funding maintenance and selective investments.
Negative Factors
Elevated leverage
A high debt-to-equity ratio (~3.5x) materially increases sensitivity to interest rate moves and refinancing cycles. Over the medium term this constrains financial flexibility, raises funding costs for acquisitions or capex, and increases default or coverage risk if operating cash flow weakens or market funding tightens.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth momentum
Sustained high revenue growth (FY2026 acceleration) signals expanding utilization and scale in the transmission portfolio. Over 2-6 months this underpins higher potential distributable cash as assets mature and provides room to absorb cyclical pressures while funding maintenance and selective investments.
Read all positive factors
India Grid Trust Units Series - IV (INDIGRID) vs. iShares MSCI India ETF (INDA)
Market Cap
₹163.27B
Dividend Yield9.4%
Average Volume (3M)69.62K
Price to Earnings (P/E)40.5
Beta (1Y)0.10
Revenue Growth45.04%
EPS Growth-9.58%
CountryIN
Employees570
SectorUtilities
Sector Strength65
IndustryFinancial - Conglomerates
Share Statistics
EPS (TTM)3.41
Shares Outstanding952,564,700
10 Day Avg. Volume26,386
30 Day Avg. Volume69,616
Financial Highlights & Ratios
PEG Ratio-4.97
Price to Book (P/B)2.36
Price to Sales (P/S)3.00
P/FCF Ratio-27.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8
Revenue Forecast (FY)₹36.79B
India Grid Trust Units Series - IV Business Overview & Revenue Model
Company Description
India Grid Trust is an infrastructure investment trust established to own inter-state power transmission assets in India. Its asset portfolio comprises nine power transmission projects located across 18 states and 1 union territory in India. The p...
How the Company Makes Money
INDIGRID makes money primarily by earning cash flows from its underlying infrastructure assets (held through project-level entities) and distributing surplus cash to unitholders as per the InvIT structure.
Key revenue streams:
1) Transmission ser...
India Grid Trust Units Series - IV Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
45
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.13B | 47.68B | 32.88B | 28.64B | 23.32B | 22.22B |
| Gross Profit | 28.61B | 33.93B | 32.86B | 27.90B | 22.79B | 21.78B |
| EBITDA | 30.28B | 32.45B | 30.42B | 25.62B | 21.84B | 20.65B |
| Net Income | 2.84B | 3.94B | 3.98B | 2.85B | 4.56B | 3.48B |
Balance Sheet | ||||||
| Total Assets | 277.37B | 297.31B | 264.27B | 257.57B | 202.12B | 195.57B |
| Cash, Cash Equivalents and Short-Term Investments | 20.56B | 18.73B | 24.06B | 14.88B | 11.50B | 16.49B |
| Total Debt | 220.36B | 213.59B | 200.93B | 193.04B | 145.05B | 133.39B |
| Total Liabilities | 230.36B | 235.38B | 211.68B | 203.73B | 151.72B | 140.59B |
| Stockholders Equity | 46.13B | 60.72B | 51.63B | 52.90B | 49.58B | 54.18B |
Cash Flow | ||||||
| Free Cash Flow | -7.68B | -5.27B | 0.00 | -5.63B | 2.53B | 9.76B |
| Operating Cash Flow | 10.99B | 33.77B | 0.00 | 26.65B | 20.36B | 20.81B |
| Investing Cash Flow | -10.21B | -29.45B | 0.00 | -61.04B | -21.18B | -15.17B |
| Financing Cash Flow | 92.71M | -4.52B | 0.00 | 33.56B | -7.88B | -19.83B |
India Grid Trust Units Series - IV Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | ₹2.69T | 13.72 | ― | 3.37% | 2.05% | 2.63% | |
63 Neutral | ₹241.52B | 15.72 | ― | 3.56% | 9.23% | 12.18% | |
60 Neutral | ₹163.27B | 40.49 | ― | 9.40% | 45.04% | -9.58% | |
57 Neutral | ₹717.11B | 29.64 | ― | 1.48% | -0.68% | -21.43% | |
51 Neutral | ₹1.34T | 35.84 | ― | 0.59% | -4.66% | -5.61% | |
50 Neutral | ₹26.26B | 0.90 | ― | ― | -13.36% | -43.08% |
* Utilities Sector Average
IN:INDIGRID
India Grid Trust Units Series - IV
171.40
37.26
27.77%
IN:CESC
CESC Ltd
182.20
23.04
14.48%
IN:POWERGRID
Power Grid Corporation of India Limited
289.75
6.02
2.12%
IN:RELINFRA
Reliance Infrastructure Limited
64.33
-292.62
-81.98%
IN:TATAPOWER
Tata Power Company Limited
420.65
26.07
6.61%
IN:TORNTPOWER
Torrent Power Limited
1,423.10
45.86
3.33%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.