INTERISE TRUST has informed the Exchange regarding Annual report for FY ended 2024-25
Awaiting price reaction for this filing.
Interise Trust (formerly IndInfravit Trust), an infrastructure investment trust (InvIT) managing 17 road toll projects spanning ~7,300 lane km across 8 states, submitted its FY 2024-25 Annual Report. Toll revenue grew ~11% to ₹33,717 Mn from ₹29,949 Mn, while consolidated EBITDA rose 5% to ₹24,784 Mn. Consolidated PAT remained negative at -₹714 Mn (improved from -₹1,571 Mn) due to high finance costs of ₹14,215 Mn, though standalone PAT grew 26% to ₹5,104 Mn. The trust maintained AAA/Stable/A1+ credit ratings and became the first in India's road sector to secure ISO 39001 Road Traffic Safety certification. Distribution per unit fell sharply to ₹7.73 (from ₹12.35), translating to a ~7.45% yield. Debt-equity ratio rose to 1.83x (from 1.60x) as the trust initiated refinancing of a portion of its borrowings.
Mixed signals for unitholders: toll revenue and EBITDA growth are positive, but the sharp drop in per-unit distribution and rising leverage are concerns. Negative consolidated PAT and elevated debt-servicing costs continue to weigh on earnings, while refinancing progress and strong traffic growth (5% YoY) support a stable outlook.