Capital Infra Trus has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Capital Infra Trust, an Infrastructure Investment Trust (InvIT) sponsored by Gawar Construction, reported its Q3 FY26 results with a standalone revenue from operations of ₹1,278.15 million (up ~26% QoQ) and a standalone profit after tax of ₹357.08 million, though this was lower than the previous quarter's ₹748.98 million due to an exceptional impairment charge of ₹496.11 million on investments and loans to SPVs. On a consolidated basis, revenue stood at ₹1,777.19 million with a sharply lower PAT of ₹107.58 million (vs ₹784.28 million in Q2), hit by a ₹553.30 million loss on modification of financial assets and compressed EBITDA margin of 26.92% (down from 75.57% in Q2). The Trust raised ₹12,500 million via a QIP at ₹72.30/unit, using proceeds to acquire 3 new highway SPVs from the sponsor and prepay debt; it also raised ₹3,450.06 million via a preferential issue to the sponsor to prepay NCDs, bringing the consolidated Net Debt to EV ratio to 43.34% (now compliant after previously breaching the 49% SEBI-mandated threshold). Distributions of ₹8.31 per unit were declared for 9M FY26, with a further ₹0.89/unit declared post-quarter. Mr. Manish Kumar Satnaliwala resigned as CEO, replaced by Mr. Hare Krishna effective December 1, 2025. The statutory auditor (Walker Chandiok & Co LLP) issued an unmodified review report.
The sharp QoQ fall in consolidated profit and steep EBITDA margin compression are negatives for near-term sentiment, partly driven by non-cash impairment and financial asset modification losses. However, the successful QIP, debt reduction bringing the leverage ratio back within regulatory limits, acquisition of 3 new operating SPVs, and healthy ₹8.31/unit distribution for 9M FY26 are positives that should support unit-holder income and future revenue growth.