Vertis Infrastructure Trust (VERTIS) investor relations material

Executive summary

• Q1 FY27 saw 9.1% YoY traffic growth, 16.4% toll revenue growth, and operating revenue of INR 11,456 Mn, outperforming projections despite geopolitical headwinds.

• EBITDA margin reached 89%, with NAV per unit at INR 107.39 and a distribution of INR 3.25 per unit for Q1 FY27.

• Portfolio comprises 28 operational assets across nine states, AUM of INR 273 Bn, and a weighted average residual life of 13 years.

• Cumulative distributions since inception reached INR 60.34 per unit.

• Approved unaudited standalone and consolidated financial results for Q1 FY27, with no material misstatements noted.

Financial highlights

• Operating revenue for Q1 FY27 was INR 11,456 Mn, with consolidated revenue at INR 10,308.75 Mn and standalone at INR 2,186.90 Mn.

• EBITDA margin stood at 89% (consolidated EBITDA margin at 84.82%, standalone at 98.50%).

• Distribution per unit for Q1 FY27 was INR 3.25, totaling INR 4,908 Mn.

• Standalone profit after tax for Q1 FY27 was INR 4,718.61 Mn; consolidated profit after tax was INR 3,424.68 Mn.

• Nine annuity payments totaling INR 4,355 Mn were received, averaging 6.1 days ahead of schedule.

Outlook and guidance

• Management remains positive on portfolio performance, with Q1 traffic seen as a strong start.

• Major maintenance works deferred to H2 FY27 due to bitumen price and supply uncertainty from West Asia conflict.

• Ongoing petitions for capital reduction at certain SPVs to address cash traps and enhance future distributions.

• NHAI monetization program and regulatory changes present future growth opportunities.

• Industry-wide resolution on WPI linking factor ensures no adverse impact on future toll revenues.