Anantam Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Anantam Highways Trust reported Q4 FY2026 consolidated revenue of INR224.5 crores and EBITDA of INR202.6 crores. The Board approved a distribution of INR2.50 per unit (comprising INR0.4141 interest, INR2.08 dividend, and INR0.003 other income). NAV stood at INR115.80 per unit as of March 31, 2026, with a debt-to-EV ratio of approximately 42% and AAA stable credit rating. The Board has approved the proposed acquisition of seven additional ROFO (Right of First Offer) assets with a total value of approximately INR4,700 crores (~46-47% equity via unit swap with Alpha Alternatives and Dilip Buildcon, balance debt). Management emphasized a total return approach combining distribution consistency with growth, but declined to provide specific DPU guidance. The ROFO pipeline includes seven more Dilip Buildcon assets plus additional assets from Alpha Alternatives-managed funds, providing clear growth visibility through FY2029.
The approved ROFO acquisition doubling the portfolio size is positive for long-term unit holder value, though the unit swap model raises concerns about cap table diversification and liquidity. Management's refusal to provide DPU guidance and evasive responses on distribution composition may disappoint investors seeking yield clarity.