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Capitaland India Trust (SG:CY6U)
SGX:CY6U
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Capitaland India Trust (CY6U) AI Stock Analysis

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SG:CY6U

Capitaland India Trust

(SGX:CY6U)

Rating:76Outperform
Price Target:
S$1.00
â–¼(-13.04%Downside)
Capitaland India Trust scores well due to strong financial performance and attractive valuation. The stock's current valuation is very appealing with a low P/E ratio and high dividend yield. However, technical indicators suggest the stock may be overbought, which could pose short-term risks. Despite some challenges in cash flow, the overall financial health remains strong.
Positive Factors
Expansion and Acquisition
Entered into a forward purchase agreement to fund and acquire a 1.13mn sqft project, which is a value accretive deal offering more office space solutions in Bangalore.
Financial Performance
A strong start with net property income rising +12% y/y despite a 2% depreciation in the SGD-INR rate.
Growth Potential
CapitaLand India Trust is one of the fastest growing S-REITs with a projected three-year DPU CAGR of 8% due to recovering cash flows and planned acquisitions.
Negative Factors
Currency Risk
DPU from the trust will be negatively impacted on a lagged basis if the INR depreciates, despite hedging each half-yearly distribution.
Economic Outlook
Deterioration in the Indian economic outlook or companies outsourcing operations to India may negatively impact demand for space and rents.
Interest Rate Risk
Interest rate hikes will result in higher interest payments which would reduce income available for distribution.

Capitaland India Trust (CY6U) vs. iShares MSCI Singapore ETF (EWS)

Capitaland India Trust Business Overview & Revenue Model

Company DescriptionCapitaLand India Trust (CY6U), formerly known as Ascendas India Trust, is a prominent business trust listed in Singapore that focuses on investing in income-producing real estate primarily used as business spaces in India. The trust primarily targets properties in the IT and business park sectors, providing high-quality office and industrial spaces catering to multinational corporations and local enterprises in India's major cities.
How the Company Makes MoneyCapitaLand India Trust generates revenue primarily through leasing out its portfolio of real estate properties to tenants operating in various sectors, particularly IT and business services. The trust earns rental income from its properties, which include business parks and office buildings strategically located in key urban centers across India. Additionally, the trust may engage in property development and enhancement activities to increase the value and appeal of its assets, thereby attracting more tenants and commanding higher rental rates. The trust's earnings are further supported by its strategic partnerships with local and international real estate developers, enhancing its ability to acquire and manage a diversified property portfolio.

Capitaland India Trust Financial Statement Overview

Summary
Capitaland India Trust shows strong financial performance with significant revenue and net income growth. However, challenges in cash conversion and increased leverage are areas of concern. Overall, the financial health is solid with room for improvement.
Income Statement
85
Very Positive
Capitaland India Trust demonstrates strong revenue growth with a 18.76% increase from 2023 to 2024. Gross profit margin improved to 65.32%, indicating efficient cost management. However, the net profit margin surged to 157.93% due to significant net income, which may require further analysis given the absence of EBIT. EBITDA margin at 198.26% highlights strong operating performance, although EBIT is missing for 2024.
Balance Sheet
78
Positive
The company's debt-to-equity ratio rose to 0.95, indicating moderate leverage. Return on Equity (ROE) is robust at 23.63%, reflecting strong profitability. The equity ratio is stable at 41.44%, showing a solid equity base relative to total assets. Overall, the balance sheet is healthy, but increased debt levels could be a concern if not managed properly.
Cash Flow
70
Positive
Free cash flow decreased by 32.17% from 2023 to 2024, which could impact future investments. The operating cash flow to net income ratio is 0.39, suggesting a need for better cash conversion. The free cash flow to net income ratio is 0.35, indicating some challenges in converting income into cash flow, possibly due to increased capital expenditures.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue334.98M277.88M234.05M210.61M192.73M191.67M
Gross Profit248.17M181.51M160.25M166.80M155.74M147.92M
EBITDA171.08M550.98M169.00M254.56M314.42M222.63M
Net Income241.12M438.77M147.43M137.40M192.29M130.72M
Balance Sheet
Total Assets3.88B4.48B3.73B3.22B3.14B2.65B
Cash, Cash Equivalents and Short-Term Investments95.30M134.62M179.82M167.40M167.89M101.13M
Total Debt1.52B1.76B1.39B1.24B1.09B817.06M
Total Liabilities2.24B2.51B2.09B1.84B1.69B1.33B
Stockholders Equity1.53B1.86B1.54B1.29B1.36B1.24B
Cash Flow
Free Cash Flow168.36M153.61M226.51M143.76M146.35M140.86M
Operating Cash Flow213.81M171.06M245.04M145.28M147.58M141.59M
Investing Cash Flow-393.55M-381.63M-360.89M-152.63M-211.40M-67.76M
Financing Cash Flow112.05M192.70M128.69M11.12M130.19M-48.57M

Capitaland India Trust Technical Analysis

Technical Analysis Sentiment
Positive
Last Price1.15
Price Trends
50DMA
1.04
Positive
100DMA
1.00
Positive
200DMA
1.02
Positive
Market Momentum
MACD
0.03
Negative
RSI
77.21
Negative
STOCH
95.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CY6U, the sentiment is Positive. The current price of 1.15 is above the 20-day moving average (MA) of 1.11, above the 50-day MA of 1.04, and above the 200-day MA of 1.02, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 77.21 is Negative, neither overbought nor oversold. The STOCH value of 95.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:CY6U.

Capitaland India Trust Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$1.57B3.5326.09%5.90%14.96%186.43%
65
Neutral
$2.05B16.902.45%5.19%-0.30%1.21%
64
Neutral
S$1.35B22.823.16%6.48%-8.34%-22.51%
62
Neutral
S$1.36B75.001.45%3.11%7.02%-79.65%
57
Neutral
S$1.36B79.35-0.91%7.24%-7.66%-145.74%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:CY6U
Capitaland India Trust
1.16
0.17
16.70%
SG:ACV
Frasers Hospitality Trust
0.70
0.30
75.00%
SG:AU8U
CapitaLand China Trust
0.78
0.16
25.81%
SG:JYEU
Lendlease Global Commercial REIT
0.55
-0.01
-1.79%

Capitaland India Trust Corporate Events

CapitaLand India Trust Issues S$100 Million Perpetual Securities
Jul 2, 2025

CapitaLand India Trust Management Pte. Ltd., acting as Trustee-Manager for CapitaLand India Trust (CLINT), has announced the issuance of S$100,000,000 4.40% subordinated perpetual securities under its S$1,500,000,000 multicurrency debt issuance programme. The perpetual securities have received in-principle approval for listing and quotation on the Singapore Exchange Securities Trading Limited (SGX-ST) and are expected to be listed on or about 3 July 2025. This issuance marks a significant step in CLINT’s financial strategy, potentially enhancing its market position and providing flexibility in capital management.

The most recent analyst rating on (SG:CY6U) stock is a Buy with a S$1.20 price target. To see the full list of analyst forecasts on Capitaland India Trust stock, see the SG:CY6U Stock Forecast page.

CapitaLand India Trust Prices S$100 Million Perpetual Securities
Jun 25, 2025

CapitaLand India Trust has announced the pricing of S$100 million 4.40% subordinated perpetual securities under its S$1.5 billion Multicurrency Debt Issuance Programme. The funds raised will be used to refinance existing borrowings, repay loans, and support business activities, acquisitions, and general working capital, potentially enhancing the trust’s financial flexibility and operational capacity.

The most recent analyst rating on (SG:CY6U) stock is a Buy with a S$1.20 price target. To see the full list of analyst forecasts on Capitaland India Trust stock, see the SG:CY6U Stock Forecast page.

CapitaLand India Trust Convenes Annual General Meeting
May 27, 2025

CapitaLand India Trust held its Annual General Meeting at Marina Bay Sands Expo and Convention Centre in Singapore. The meeting was attended by unitholders, proxies, and the board of directors, discussing key management roles and the presence of significant stakeholders, reflecting the trust’s operational and strategic focus.

The most recent analyst rating on (SG:CY6U) stock is a Buy with a S$1.20 price target. To see the full list of analyst forecasts on Capitaland India Trust stock, see the SG:CY6U Stock Forecast page.

CapitaLand India Trust Issues New Units for Base Fee Payment
May 9, 2025

CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CapitaLand India Trust, announced the issuance of 2,279,757 new units to itself as part of the payment for the base fee for the first quarter of 2025. This issuance, which follows the stipulations of the Trust Deed, reflects the company’s operational strategy of balancing cash and unit payments, potentially impacting its liquidity and market positioning.

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.Date of analysis: Jul 04, 2025