Indigrid Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
The Board of IndiGrid Investment Managers Limited approved the unaudited standalone and consolidated interim financial results for the half year ended September 30, 2025. Total income rose modestly to Rs 17,371.80 million (vs Rs 17,131.46 million in H1 FY25), but profit for the period dropped sharply to Rs 1,139.11 million (vs Rs 2,357.09 million), with basic EPS falling to Rs 1.38 from Rs 2.93, mainly due to higher finance costs (Rs 8,049.54 million) and elevated construction costs. Long-term borrowings surged to Rs 1,99,822.30 million (from Rs 1,73,497.61 million as on March 31, 2025), funding recent acquisitions including 49% of ReNew Surya Aayan and 100% of Koppal-Narendra Transmission. Net Distributable Cash Flow (NDCF) at the Trust level improved to Rs 6,370.84 million (vs Rs 5,637.19 million), with distributable NDCF at Rs 6,490.73 million. Net assets at fair value stood at Rs 1,25,375.82 million, with fair value NAV per unit at Rs 148.40 (vs Rs 144.11). The auditor (SRBC & Co LLP) issued an unmodified review report with an emphasis of matter on the classification of Unit Capital as Equity.
Despite the steep drop in accounting profit (driven by higher interest costs from debt-funded acquisitions), the improvement in NDCF and stable fair value NAV per unit is more relevant for unitholders, as InvITs distribute cash flows rather than profits. Unit holders should expect distribution support, though rising debt levels warrant monitoring.