Capitaland India Trust (CY6U) AI Stock Analysis

• Market Cap: S$1.47B
• Dividend Yield: 5.87%
• Average Volume (3M): 2.16M
• Price to Earnings (P/E): 3.3
• Beta (1Y): 0.62
• Revenue Growth: 14.96%
• EPS Growth: 186.43%
• Country: SG
• Employees: 17
• Sector: Real Estate
• Sector Strength: 55
• Industry: Real Estate - Services
• EPS (TTM): N/A
• Shares Outstanding: 1,351,704,500
• 10 Day Avg. Volume: 3,102,600
• 30 Day Avg. Volume: 2,164,136
• PEG Ratio: -0.32
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 9.09
• 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$1.20
• Price Target Upside: 9.89% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 76 Outperform
• Price Target: S$1.00 ▼(-8.26%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

Earnings Growth

A strong start with net property income rising +12% y/y despite a 2% depreciation in the SGD-INR rate.

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.

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 Impact

Interest rate hikes will result in higher interest payments which would reduce income available for distribution, though this risk is partially mitigated by the fact that over 75% of the trust’s debt is fixed.

Capitaland India Trust Business Overview & Revenue Model

Company Description

Capitaland India Trust (CY6U) is a business trust listed on the Singapore Exchange, primarily focused on investing in income-producing real estate and real estate-related assets in India. The trust manages a diversified portfolio that includes business parks, industrial, logistics, and data center properties, catering to a wide range of industries. Its core objective is to provide unitholders with stable distributions and potential for long-term capital growth through its strategic investments and developments in India's burgeoning real estate sector.

How the Company Makes Money

Capitaland India Trust generates revenue primarily through leasing out its portfolio of properties in India to various tenants across different sectors. The trust earns rental income from its business parks, industrial facilities, logistics spaces, and data centers. This rental income serves as the primary revenue stream, providing a stable and recurring cash flow. Additionally, the trust may engage in property development or enhancement activities, which can lead to capital appreciation and increased rental yields. Strategic partnerships with local developers and operators, along with its expertise in property management, also contribute to optimizing its asset value and maximizing returns for unitholders.

Capitaland India Trust Financial Statement Overview

Summary

Capitaland India Trust shows strong financial performance with significant revenue and net income growth. The income statement indicates high profitability, though the absence of EBIT data is a concern. The balance sheet is stable but has increased leverage, while cash flow analysis points to challenges in cash conversion and free cash flow generation.

Income Statement

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

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

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	334.98M	277.88M	234.05M	210.61M	192.73M	191.67M
Gross Profit	248.17M	181.51M	160.25M	166.80M	155.74M	147.92M
EBITDA	171.08M	550.98M	169.00M	254.56M	314.42M	222.63M
Net Income	241.12M	438.77M	147.43M	137.40M	192.29M	130.72M
Balance Sheet
Total Assets	3.88B	4.48B	3.73B	3.22B	3.14B	2.65B
Cash, Cash Equivalents and Short-Term Investments	95.30M	134.62M	179.82M	167.40M	167.89M	101.13M
Total Debt	1.52B	1.76B	1.39B	1.24B	1.09B	817.06M
Total Liabilities	2.24B	2.51B	2.09B	1.84B	1.69B	1.33B
Stockholders Equity	1.53B	1.86B	1.54B	1.29B	1.36B	1.24B
Cash Flow
Free Cash Flow	168.36M	153.61M	226.51M	143.76M	146.35M	140.86M
Operating Cash Flow	213.81M	171.06M	245.04M	145.28M	147.58M	141.59M
Investing Cash Flow	-393.55M	-381.63M	-360.89M	-152.63M	-211.40M	-67.76M
Financing Cash Flow	112.05M	192.70M	128.69M	11.12M	130.19M	-48.57M

Capitaland India Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 1.09 is above the 20-day moving average (MA) of 1.03, above the 50-day MA of 1.00, and above the 200-day MA of 1.02, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 71.41 is Negative, neither overbought nor oversold. The STOCH value of 89.26 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CY6U	76 Outperform	S$1.47B	3.32	26.09%	5.87%	14.96%	186.43%
JYEU	67 Neutral	S$1.28B	21.78	3.16%	6.84%	-8.34%	-22.51%
Sector *	65 Neutral	$1.97B	17.43	2.40%	5.18%	-0.31%	5.93%
AU8U	63 Neutral	S$1.25B	79.35	-0.91%	7.33%	-7.66%	-145.74%
ACV	62 Neutral	S$1.35B	74.47	1.45%	3.75%	7.02%	-79.65%

Capitaland India Trust Corporate Events

CapitaLand India Trust Issues S$100 Million Perpetual Securities

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

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

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

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.