Indigrid Infrastructure Trust (540565) Q1 26/27 earnings summary

Executive summary

• Achieved consolidated revenue of INR 1,087 crores (Rs. 10,866.55 million) in Q1 FY 2027, up 29% year-over-year, driven by new project additions and operational ramp-up.

• EBITDA rose 29% year-over-year to INR 906 crores (Rs. 8,604 million), with a margin of 89.1%.

• Distribution per unit (DPU) declared at INR 4.12, in line with full-year guidance of INR 16.48 per unit, maintaining a policy of distributing at least 90% of Net Distributable Cash Flows.

• Portfolio spans 20 states and 2 union territories, with 59 transmission lines, 20 substations, 1.5 GW solar, and 2.5 GWh BESS projects.

• Profit attributable to unitholders was Rs. 2,431.86 million, with EPS at Rs. 2.55.

Financial highlights

• Operational revenue for the quarter was INR 930 crores, up 19% year-over-year.

• EBITDA margin for the quarter was 89.1%; net profit margin was 22.63%.

• Net debt to AUM ratio at 58.5%, with AUM at ₹34,041 crore as of June 2026.

• Collections at 95% for transmission and 100% for solar; receivable days at 38 (transmission) and 34 (solar).

• NAV per unit at INR 146.93 as of June 30, 2026.

Outlook and guidance

• Annual DPU guidance maintained at INR 16.48 for FY 2027, with Q1 DPU at INR 4.12 per unit.

• Expecting to acquire INR 2,000 crores of projects from EnerGrid in FY 2027, with a pipeline of INR 12,000–13,000 crores over the next 2–4 years.

• Several transmission and BESS projects under construction, expected to complete between August 2026 and March 2027.

• Focus on stable operations, sustainable distributions, and prudent leverage.

• Emphasis on digital asset management and predictive analytics for operational excellence.