Capitaland India Trust (CY6U) AI Stock Analysis

• Market Cap: S$1.64B
• Dividend Yield: 5.83%
• Average Volume (3M): 2.50M
• Price to Earnings (P/E): 4.2
• Beta (1Y): 0.53
• Revenue Growth: 13.75%
• EPS Growth: 114.36%
• Country: SG
• Employees: 22
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 0.04
• Shares Outstanding: 1,355,589,000
• 10 Day Avg. Volume: 2,138,498
• 30 Day Avg. Volume: 2,500,366
• PEG Ratio: 0.02
• Price to Book (P/B): 0.77
• Price to Sales (P/S): 5.15
• P/FCF Ratio: 9.31
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$1.51
• Price Target Upside: 29.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.15
• Revenue Forecast (FY): S$380.35M

• Rating: 75 Outperform
• Price Target: S$1.50 ▲(29.31% Upside)

The stock's overall score is driven by its strong valuation and positive technical indicators, suggesting potential undervaluation and bullish momentum. However, financial performance is moderated by concerns over leverage and cash flow, which could impact long-term stability.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong demand for commercial properties, enhancing long-term cash flow stability and market position.

Sustainability Initiatives

The sustainability-linked loan underscores commitment to sustainable growth, potentially improving stakeholder trust and long-term viability.

Management Strengthening

Strengthening management with experienced personnel can enhance operational efficiency and strategic decision-making, supporting long-term growth.

Negative Factors

Increasing Leverage

Higher leverage can increase financial risk and limit flexibility, potentially impacting the trust's ability to navigate economic downturns.

Negative Cash Flow Growth

Negative cash flow growth suggests challenges in cash generation, which could strain operations and limit reinvestment in growth opportunities.

High Net Profit Margin

An unusually high net profit margin may indicate reliance on non-recurring income, which could mask underlying operational issues.

Capitaland India Trust Business Overview & Revenue Model

Company Description

CapitaLand India Trust (CY6U) is a real estate investment trust (REIT) focused on acquiring and managing a diversified portfolio of income-generating real estate assets in India. The trust primarily invests in commercial properties, including office buildings, retail spaces, and logistics facilities, catering to the growing demand for quality real estate in key urban markets across the country. With a strategic emphasis on sustainable growth, CapitaLand India Trust aims to deliver stable and sustainable returns to its unitholders through prudent asset management and development initiatives.

How the Company Makes Money

CapitaLand India Trust generates revenue primarily through rental income from its portfolio of commercial properties. The trust leases spaces to a diverse range of tenants, including multinational corporations and local businesses, which contributes to its stable cash flow. Additionally, the trust may engage in property development and asset enhancement initiatives, which can lead to increased rental yields and capital appreciation over time. The trust benefits from its affiliation with CapitaLand Limited, a leading global real estate company, which provides strategic support and expertise in property management and development. Furthermore, the trust capitalizes on India's growing real estate market, driven by urbanization, economic growth, and increasing demand for high-quality commercial spaces.

Capitaland India Trust Financial Statement Overview

Summary

Capitaland India Trust shows strong revenue growth and profitability with efficient cost management. However, increasing leverage and negative free cash flow growth are concerns. The company needs to improve cash flow generation and manage debt levels for long-term stability.

Income Statement

Capitaland India Trust has shown consistent revenue growth, with a TTM revenue growth rate of 2.32%. The gross profit margin is strong at 74.09%, indicating efficient cost management. However, the net profit margin is unusually high at 134.21%, suggesting potential non-operational income or one-time gains. EBIT and EBITDA margins are healthy, reflecting operational efficiency.

Balance Sheet

The debt-to-equity ratio has increased to 1.11 in the TTM period, indicating higher leverage, which could pose a risk if not managed well. Return on equity is robust at 21.72%, showcasing effective use of equity. The equity ratio is moderate, suggesting a balanced capital structure but with room for improvement in reducing leverage.

Cash Flow

The free cash flow growth rate is negative at -1.50%, indicating potential challenges in generating cash. The operating cash flow to net income ratio is low at 0.22, suggesting that net income is not fully translating into cash flow. However, the free cash flow to net income ratio is high at 97.40%, indicating good cash conversion from profits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	291.09M	277.88M	234.05M	210.61M	192.73M	191.67M
Gross Profit	215.66M	181.51M	160.25M	166.80M	155.74M	147.92M
EBITDA	187.35M	550.98M	169.00M	228.66M	194.05M	192.42M
Net Income	390.67M	438.77M	147.43M	137.40M	192.29M	130.72M
Balance Sheet
Total Assets	4.49B	4.48B	3.73B	3.22B	3.14B	2.65B
Cash, Cash Equivalents and Short-Term Investments	128.52M	134.62M	179.82M	167.40M	167.89M	101.13M
Total Debt	1.94B	1.76B	1.39B	1.24B	1.09B	817.06M
Total Liabilities	2.64B	2.51B	2.09B	1.84B	1.69B	1.33B
Stockholders Equity	1.74B	1.86B	1.54B	1.29B	1.36B	1.24B
Cash Flow
Free Cash Flow	161.44M	153.61M	226.51M	143.76M	146.35M	140.86M
Operating Cash Flow	165.74M	171.06M	245.04M	145.28M	147.58M	141.59M
Investing Cash Flow	-335.16M	-381.63M	-360.89M	-152.63M	-211.40M	-67.76M
Financing Cash Flow	230.97M	192.70M	128.69M	11.12M	130.19M	-48.57M

Capitaland India Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 1.16 is below the 20-day moving average (MA) of 1.20, below the 50-day MA of 1.20, and above the 200-day MA of 1.07, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 51.48 is Neutral, neither overbought nor oversold. The STOCH value of 47.62 is Neutral, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CY6U	75 Outperform	S$1.64B	4.16	23.60%	5.83%	13.75%	114.36%
JYEU	70 Neutral	S$1.82B	28.34	2.88%	8.01%	-6.64%	-12.15%
H13	69 Neutral	S$1.45B	9.61	4.10%	1.83%	-8.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AU8U	65 Neutral	S$1.34B	1,283.33	0.04%	6.66%	-8.59%	-93.48%
ACV	62 Neutral	―	―	―	―	7.02%	-79.65%
ADN	61 Neutral	S$1.16B	11.99	4.89%	4.51%	-6.67%	581.75%

Capitaland India Trust Corporate Events

CapitaLand India Trust Secures Tax Ruling for Perpetual Securities

CapitaLand India Trust has announced the successful acquisition of a tax ruling from the Inland Revenue Authority of Singapore (IRAS) regarding its S$100,000,000 4.40% subordinated perpetual securities issued under its S$1,500,000,000 multicurrency debt issuance programme. This ruling confirms that the perpetual securities will be treated as debt securities for Singapore income tax purposes, allowing holders to benefit from tax concessions and exemptions under the qualifying debt securities scheme, thus potentially enhancing the attractiveness of these securities to investors.

CapitaLand India Trust Issues New Units for Base Fee Payment

CapitaLand India Trust, managed by CapitaLand India Trust Management Pte. Ltd., has issued 1,800,509 new units to its Trustee-Manager as part of the payment for its Base Fee for the third quarter of 2025. This issuance, based on the volume weighted average traded unit price on the Singapore Exchange, reflects the company’s adherence to its Trust Deed and impacts the total number of units in circulation, now totaling 1,355,589,005.

CapitaLand India Trust Announces Board Changes

CapitaLand India Trust has announced the retirement of Mr. Sanjeev Durjhati Prasad Dasgupta as a Non-Executive Non-Independent Director, effective from November 1, 2025. This change in board composition reflects the trust’s ongoing governance adjustments, with Mr. Manohar Khiatani continuing as Chairman and Mr. Nagabhushanam Gauri Shankar as CEO. The updated board and committee structure is expected to maintain strong oversight and strategic direction for the trust’s operations.

CapitaLand India Trust Secures Major Sustainability-Linked Loan

CapitaLand India Trust has announced that its subsidiary, Minerva Veritas Data Centre Private Limited, has secured a sustainability-linked construction loan facility worth INR15 billion from Sumitomo Mitsui Banking Corporation. Additionally, a Standby Letter of Credit facility with a limit of US$193 million has been availed to support this loan. These financial arrangements are subject to specific conditions, including maintaining ownership and management control of the subsidiary, which could impact the trust’s operations and stakeholder interests if not adhered to.