Anantam Highways Trust Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,127 Cr
- P/E
- 8.29
- ROE
- 16.75%
- Price to sales
- 4.39
- Debt to equity
- 0.91
- 52W high / low
- ₹110 / ₹101
- EBITDA margin
- 84.91%
- Net profit margin
- 61.62%
- Sales (last year)
- ₹484 Cr
Anantam Highways Trust is an Indian infrastructure investment trust which proposes to invest in road infrastructure assets. The Trust is sponsored by Alpha Alternatives Fund Advisors LLP[1]
Guidance scorecard · Q2 FY27 call
What Anantam Highways Trust's management guided
and where it ranks in Transport Infrastructure
Transport Infrastructure
RevenueQ2 FY27 call
0–10%- Anantam Highways Trust focuses on sustaining distributions supported by government-backed annuity cash flows, ensuring predictable revenue without traffic volume risk.
- Future growth will be driven by disciplined acquisitions from a large ROFO (Right of First Offer) pipeline, including assets from Dilip Buildcon, Alpha Alternatives, and other developers.
- Acquisition decisions will prioritize assets that are appropriately valued, financially sound, and accretive to unitholders.
- Rising interest rates are expected to benefit the HAM assets by increasing annuity-linked income.
- Management aims to balance growth with preserving the financial and operating integrity of the existing portfolio.
2 more points from Anantam Highways Trust's call on revenue
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MarginsQ2 FY27 call
FlatSee what Anantam Highways Trust said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- The InvIT has a significant ROFO (Right of First Offer) pipeline comprising 18 assets (11 from Dilip Buildcon and rest from Alpha Alternatives), indicating planned future acquisitions.
- Acquisition of ROFO assets has been deferred due to timing, pricing, and regulatory considerations but remains a priority; these acquisitions are expected in the near to mid-term (18-24 months).
- Future acquisitions will be funded through a combination of primary capital raising, InvIT unit swaps, and incremental leverage within prudential limits.
- The InvIT is also open to acquiring assets directly from the market beyond Dilip Buildcon and Alpha Alternatives.
2 more points from Anantam Highways Trust's call on capex
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FundraisingQ2 FY27 call
PlannedSee what Anantam Highways Trust said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
- Existing portfolio of seven HAM assets and their performance.
- ROFO (Right of First Offer) asset pipeline involving 18 assets, including 11 from Dilip Buildcon and others from Alpha Alternatives.
- Deferred acquisition of ROFO assets due to timing, pricing, and regulatory considerations, with plans to acquire them in the near to mid-term.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Infrastructure
on management's own guidance
- Dreamfolks ServiModerate growth2
- Guj Pipavav PortGood growth1
- Adani PortsModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Infrastructure companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Guj Pipavav Port | 20–40% | Flat | ₹8,040 Cr | 14.8 |
| 2 | Dreamfolks Servi | 10–20% | Up 2%+ | ₹322 Cr | — |
| 3 | Adani Ports | 10–20% | Flat | ₹4.03L Cr | 30.4 |
| 4 | 10–20% | Flat | ₹79,244 Cr | 51.1 | |
| 5 | 10–20% | Flat | ₹20,640 Cr | 74.5 | |
| 6 | 10–20% | Flat | ₹7,757 Cr | 19.8 |
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All announcements →- Acquisition / mergerNotableAnantam Highways Trust Q2 FY27 Earnings Call Transcript and Key Updates
Financials of Anantam Highways Trust
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Anantam Highways Trust
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 0 | 0 | 0 | 104 | 223 | 158 | 158 |
| Expenses + | 0 | 2 | 2 | 18 | 22 | 31 | 26 |
| Operating Profit | -0 | -2 | -2 | 85 | 201 | 127 | 131 |
| OPM % | 82% | 90% | 80% | 83% | |||
| Other Income + | 0 | 0 | 0 | 20 | 2 | 1 | 1 |
| Interest | 0 | 0 | 0 | 51 | 40 | 38 | 35 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0 | -2 | -2 | 55 | 163 | 89 | 97 |
| Tax % | 0% | 0% | 0% | 108% | -25% | 33% | 46% |
| Net Profit + | -0 | -2 | -2 | -4 | 203 | 59 | 52 |
| EPS in Rs | -0.19 | 9.33 | 2.73 | 2.41 |
Financials of Anantam Highways Trust
Profit & Loss
Annual income statement trend
| Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|
| Sales + | 0 | 313 | 642 |
| Expenses + | 0 | 43 | 98 |
| Operating Profit | -0 | 270 | 544 |
| OPM % | 86% | 85% | |
| Other Income + | 0 | 35 | 23 |
| Interest | 0 | 91 | 164 |
| Depreciation | 0 | 0 | 0 |
| Profit before tax | -0 | 214 | 403 |
| Tax % | 0% | 9% | |
| Net Profit + | -0 | 196 | 311 |
| EPS in Rs | 8.99 | 14.28 | |
| Dividend Payout % | 0% | 28% |
Financials of Anantam Highways Trust
Balance Sheet
Capital structure and asset base
| Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|
| Equity Capital | 0.00 | 2,175 | 2,144 |
| Reserves | -0 | 129 | 163 |
| Borrowings + | 0 | 2,101 | 1,849 |
| Other Liabilities + | 0 | 259 | 334 |
| Total Liabilities | 0 | 4,664 | 4,490 |
| Fixed Assets + | 0 | 2 | 2 |
| CWIP | 0 | 0 | 0 |
| Investments | 0 | 0 | 81 |
| Other Assets + | 0 | 4,662 | 4,407 |
| Total Assets | 0 | 4,664 | 4,490 |
Financials of Anantam Highways Trust
Cash Flows
Operating, investing and financing cash movement
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Cash from Operating Activity + | 0 | 487 |
| Cash from Investing Activity + | 0 | 196 |
| Cash from Financing Activity + | 0 | -491 |
| Net Cash Flow | 0 | 192 |
| Free Cash Flow | 0 | 487 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 0% | 181% |
Financials of Anantam Highways Trust
Ratios
Working capital efficiency and return ratios
| Mar 2025 | Mar 2026 | |
|---|---|---|
| Debtor Days | 201 | |
| Inventory Days | ||
| Days Payable | ||
| Cash Conversion Cycle | 201 | |
| Working Capital Days | 362 | |
| ROCE % | 14% |
Guidance history
How Anantam Highways Trust's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 0–10% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 40%+ | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
51 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −4.4% | 56% |
| Last 6 months | −5.1% | 45% |
| Last 3 months | −4.6% | 54% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Anantam Highways Trust: 0.4 × 56 + 0.4 × 45 + 0.2 × 54 = 51.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Anantam Highways Trust's management said in earlier quarters
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