BSECapital Infra TrusHighNeutral
Announced Thu, 5 Feb · 18:18 IST

Capital Infra Trus has informed the Exchange regarding Disclosure of material issue

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

The board of Gawar Investment Manager (acting as Investment Manager to Capital Infra Trust) approved the unaudited standalone and consolidated financial results for Q3 FY26 (quarter ended Dec 31, 2025) along with the limited review report from Walker Chandiok & Co LLP. The Trust declared a distribution of Rs. 1.45 per unit for Q3 FY26 (interest Rs. 0.41, taxable dividend Rs. 0.59, tax-free dividend Rs. 0.06, return of capital Rs. 0.38, other income Rs. 0.01) and an interim distribution of Rs. 0.89 per unit for Q4 FY26, with record date Feb 10, 2026 and payment on or before Feb 17, 2026. On a consolidated basis, Q3 revenue from operations was Rs. 1,777.19 million and profit after tax was Rs. 107.58 million, though the quarter was impacted by a Rs. 553.30 million loss on modification of financial assets. During the quarter, the Trust raised Rs. 12,500 million via a QIP (17.29 crore units at Rs. 72.30), acquired 3 new highway SPVs (Hasanpur Bakhtiyarpur, JRR Highways, Korba Highway) from the sponsor, and issued units on a preferential basis to the sponsor to bring Net Debt/EV ratio back to 43.34%, within the 49% SEBI limit.

Likely market impact

The Rs. 2.34 per unit distribution for Q3 FY26 is supportive for unitholders, and the addition of 3 new highway SPVs expands the InvIT's asset portfolio. However, the Rs. 553.30 million modification loss and elevated finance costs (Rs. 466.75 million in Q3) cap near-term profitability, and the CEO transition (Hare Krishna replacing Manish Kumar Satnaliwala) is a leadership change to track.