Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of IndiGrid Infrastructure Trust
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 618 | 653 | 716 | 783 | 812 | 835 | 836 | 772 | 874 | 840 | 827 | 862 | 2,240 |
| Expenses + | 66 | 64 | 141 | 79 | 142 | 77 | 77 | 80 | 165 | 144 | 113 | 100 | 1,351 |
| Operating Profit | 551 | 589 | 576 | 704 | 671 | 759 | 759 | 692 | 710 | 696 | 714 | 763 | 889 |
| OPM % | 89% | 90% | 80% | 90% | 83% | 91% | 91% | 90% | 81% | 83% | 86% | 88% | 40% |
| Other Income + | 7 | 1 | 4 | 6 | 12 | 38 | 4 | 32 | 46 | 33 | 37 | 46 | 67 |
| Interest | 253 | 285 | 321 | 350 | 352 | 377 | 384 | 370 | 363 | 380 | 425 | 407 | 439 |
| Depreciation | 181 | 191 | 222 | 262 | 264 | 273 | 276 | 279 | 273 | 275 | 291 | 292 | 287 |
| Profit before tax | 124 | 115 | 37 | 97 | 66 | 146 | 103 | 75 | 120 | 74 | 35 | 110 | 230 |
| Tax % | -10% | 7% | -6% | 6% | 12% | 6% | 4% | 23% | 2% | -2% | -9% | 9% | 20% |
| Net Profit + | 137 | 107 | 39 | 92 | 58 | 137 | 99 | 58 | 117 | 75 | 39 | 100 | 185 |
| EPS in Rs | 1.93 | 1.49 | 0.49 | 1.14 | 0.71 | 1.71 | 1.22 | 0.66 | 1.36 | 0.87 | 0.52 | 1.12 | 1.91 |
Financials of IndiGrid Infrastructure Trust
Annual income statement trend
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 448 | 666 | 1,243 | 1,677 | 2,222 | 2,332 | 2,864 | 3,288 | 4,768 |
| Expenses + | 40 | 109 | 53 | 252 | 209 | 231 | 425 | 397 | 1,706 |
| Operating Profit | 408 | 557 | 1,190 | 1,425 | 2,013 | 2,101 | 2,439 | 2,891 | 3,062 |
| OPM % | 91% | 84% | 96% | 85% | 91% | 90% | 85% | 88% | 64% |
| Other Income + | 13 | 8 | 36 | 35 | 52 | 82 | 123 | 149 | 183 |
| Interest | 101 | 230 | 415 | 687 | 1,050 | 1,011 | 1,308 | 1,495 | 1,651 |
| Depreciation | 116 | 181 | 310 | 430 | 665 | 704 | 939 | 1,101 | 1,145 |
| Profit before tax | 204 | 155 | 500 | 342 | 349 | 469 | 315 | 444 | 449 |
| Tax % | -3% | 0% | -1% | 2% | 2% | 1% | 6% | 8% | 11% |
| Net Profit + | 210 | 154 | 506 | 334 | 343 | 466 | 296 | 410 | 399 |
| EPS in Rs | 6.18 | 4.52 | 7.22 | 4.77 | 4.98 | 6.51 | 3.64 | 4.77 | 4.14 |
| Dividend Payout % | 129% | 221% | 126% | 194% | 241% | 48% | 95% | 86% | 0% |
Financials of IndiGrid Infrastructure Trust
Capital structure and asset base
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2,838 | 2,838 | 5,315 | 5,315 | 6,590 | 6,590 | 7,645 | 8,332 | 10,244 |
| Reserves | 25 | -161 | -266 | -632 | -1,172 | -1,633 | -2,355 | -3,174 | -4,171 |
| Borrowings + | 2,396 | 2,612 | 6,388 | 14,576 | 13,339 | 14,505 | 19,304 | 20,097 | 21,359 |
| Other Liabilities + | 119 | 58 | 356 | 777 | 800 | 750 | 1,163 | 1,171 | 2,300 |
| Total Liabilities | 5,379 | 5,346 | 11,792 | 20,035 | 19,557 | 20,212 | 25,757 | 26,427 | 29,731 |
| Fixed Assets + | 5,026 | 4,983 | 10,816 | 16,390 | 16,838 | 17,841 | 22,710 | 22,028 | 23,708 |
| CWIP | 0 | 0 | 0 | 10 | 4 | 78 | 23 | 59 | 443 |
| Investments | 0 | 8 | 0 | 0 | 145 | 446 | 742 | 1,900 | 1,228 |
| Other Assets + | 352 | 356 | 976 | 3,636 | 2,570 | 1,847 | 2,282 | 2,441 | 4,353 |
| Total Assets | 5,379 | 5,346 | 11,792 | 20,035 | 19,557 | 20,212 | 25,757 | 26,427 | 29,731 |
Financials of IndiGrid Infrastructure Trust
Operating, investing and financing cash movement
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 433 | 580 | 1,125 | 1,680 | 2,081 | 2,037 | 2,663 | 2,902 | 3,377 |
| Cash from Investing Activity + | -4,624 | -230 | -6,091 | -5,897 | -1,517 | -2,119 | -6,102 | -1,780 | -2,945 |
| Cash from Financing Activity + | 4,358 | -357 | 5,214 | 6,415 | -1,983 | -790 | 3,356 | -1,249 | -452 |
| Net Cash Flow | 167 | -7 | 248 | 2,198 | -1,419 | -872 | -83 | -127 | -20 |
| Free Cash Flow | -4,041 | 356 | -4,791 | -3,816 | 976 | 254 | -564 | 2,141 | -398 |
| CFO/OP | 106% | 104% | 96% | 116% | 103% | 99% | 108% | 101% | 111% |
Financials of IndiGrid Infrastructure Trust
Working capital efficiency and return ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 87 | 63 | 72 | 65 | 64 | 65 | 102 | 78 | 60 |
| Inventory Days | 9 | ||||||||
| Days Payable | 282 | ||||||||
| Cash Conversion Cycle | 87 | 63 | 72 | 65 | 64 | 65 | 102 | 78 | -213 |
| Working Capital Days | -309 | 60 | -6 | -207 | -348 | -109 | -74 | -244 | -93 |
| ROCE % | 7% | 11% | 7% | 7% | 8% | 7% | 8% | 8% |