Energy Infrastructure Trust has informed the Exchange regarding Annual Full Valuation report for assets for FY ended 2024-25
Awaiting price reaction for this filing.
Energy Infrastructure Trust (InvIT) has filed its SEBI-mandated annual full valuation report for FY2024-25, prepared by independent valuer Mr. S. Sundararaman. The Fair Enterprise Value of its Special Purpose Vehicle, Pipeline Infrastructure Limited (PIL), which operates a ~1,480 km natural gas pipeline from Kakinada (Andhra Pradesh) to Bharuch (Gujarat), has been assessed at INR 1,24,440 million (about Rs. 12,444 crore) using the Discounted Cash Flow method with a Cost of Equity of 21.91% over an 11-year projection period. The declared Net Asset Value stands at Rs. 88.35 per unit. The Trust is sponsored by Rapid Holdings 2 Pte. Ltd. (Brookfield group), which holds 75% of units, and its investment manager is EnCap Investment Manager Pvt Ltd (formerly Brookfield India). PIL benefits from a 20-year Pipeline Usage Agreement with Reliance Industries Limited for 33 Mmscmd of reserved capacity, and the Trust earned Rs. 548.85 crore in net interest income from PIL during FY25. An alternative EV of Rs. 1,19,241 crore is noted if the RIL Upside Share is not treated as tax-deductible.
This is a routine regulatory disclosure, not an event-driven announcement. The Rs. 88.35 NAV per unit and the stable long-term pipeline cash flows backed by the RIL contract provide unit holders with a transparent view of underlying asset value, which is mildly positive for investor confidence but unlikely to move the unit price sharply on its own.