IRB InvIT Fund

NSE: IRBINVIT · Road Assets/Toll, Annuity, Hybrid-Annuity

Snapshot

Unlock IRB InvIT Fund's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

IRB InvIT Fund is an infrastructure investment trust that owns, operates, and maintains a diversified portfolio of toll-road assets across India. Its projects are strategically located in states including Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, and Punjab.

Business Model

The company generates revenue primarily through the collection of toll fees from its portfolio of road assets. It operates as an InvIT, distributing cash flows generated from these long-term infrastructure projects to its unit holders.

Growth Outlook

Growth is driven by the operational efficiency of existing toll-road assets and potential acquisition of new infrastructure projects. The fund focuses on maintaining stable cash distributions through active asset management.

Key Risks

  • Traffic Volume Risk. Revenue is highly dependent on actual traffic volumes, which can be impacted by economic downturns or alternative route availability.
  • Regulatory and Policy Risk. Changes in government tolling policies or infrastructure regulations could adversely affect the fund's cash flows.
  • Interest Rate Risk. As an InvIT, the fund's valuation and cost of debt are sensitive to fluctuations in interest rates within the Indian financial market.
  • Operational Risk. The ability to maintain road assets to required standards is critical to ensuring uninterrupted toll collection and compliance with concession agreements.

Price

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Key Metrics

REVENUE

₹1,413 Cr

TTM · consolidated

+20.5%YoY

NET PROFIT

₹247 Cr

TTM · consolidated

+30.3%YoY

EPS

₹0.00

TTM · consolidated

-100.0%YoY

RETURN ON EQUITY

5.7%

TTM · consolidated

+1.5 ppYoY

EBITDA MARGIN

83.0%

TTM · consolidated

+0.0 ppYoY

NET PROFIT MARGIN

16.7%

Q4 FY22 · consolidated

+0.2 ppYoY

Peers · Road Assets/Toll, Annuity, Hybrid-Annuity

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
IRB InvIT FundIRBINVIT
4,62720.5%83.0%5.7%
National HighNHIT
29,73081.0%
Cube HighwaysCUBEINVIT
19,62374.0%
Indus Inf. TrustINDUSINVIT
5,47771.0%
BF UtilitiesBFUTILITIE
1,5811069.31321.751.6%38.5%1.4%3.1%-25.0%
InnovisionINNOVISION
7966.0%

As of Q4 FY22

Financials