Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 236 | 232 | 241 | 564 | 567 | 586 | 647 | 1,023 | 1,002 | 1,104 | 1,145 | 1,312 |
| Expenses | 58 | 48 | 52 | 107 | 109 | 80 | 90 | 189 | 202 | 178 | 259 | 275 |
| Operating Profit | 178 | 183 | 188 | 456 | 458 | 507 | 557 | 833 | 800 | 927 | 886 | 1,037 |
| OPM % | 75% | 79% | 78% | 81% | 81% | 86% | 86% | 81% | 80% | 84% | 77% | 79% |
| Other Income | 5 | 5 | 16 | 8 | 11 | 15 | 17 | 9 | 12 | 12 | 14 | 11 |
| Interest | 64 | 70 | 85 | 255 | 259 | 272 | 270 | 454 | 454 | 417 | 398 | 480 |
| Depreciation | 58 | 62 | 71 | 195 | 181 | 201 | 219 | 358 | 331 | 367 | 396 | 446 |
| Profit before tax | 61 | 56 | 48 | 14 | 28 | 49 | 86 | 31 | 27 | 155 | 107 | 121 |
| Tax % | -22% | -28% | -36% | -370% | -162% | 6% | -64% | -297% | -308% | -60% | -91% | -94% |
| Net Profit | 74 | 72 | 66 | 64 | 74 | 46 | 141 | 121 | 112 | 247 | 205 | 234 |
| EPS in Rs | 1.02 | 0.99 | 0.50 | 0.49 | 0.57 | 0.35 | 0.73 | 0.63 | 0.58 | 1.28 | 1.06 | 1.21 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 0 | 147 | 698 | 974 | 2,413 | 4,322 | 4,563 |
| Expenses | 1 | 38 | 142 | 212 | 441 | 828 | 914 |
| Operating Profit | -1 | 109 | 556 | 762 | 1,973 | 3,494 | 3,649 |
| OPM % | 74% | 80% | 78% | 82% | 81% | 80% | |
| Other Income | 0 | 3 | 3 | 1 | 2 | 1 | 50 |
| Interest | 0 | 32 | 166 | 280 | 1,055 | 1,724 | 1,749 |
| Depreciation | 0 | 11 | 176 | 248 | 797 | 1,451 | 1,540 |
| Profit before tax | -1 | 70 | 217 | 235 | 122 | 320 | 410 |
| Tax % | 0% | 2% | -18% | -25% | -166% | -114% | |
| Net Profit | -1 | 68 | 257 | 294 | 325 | 686 | 799 |
| EPS in Rs | 1.15 | 3.54 | 2.24 | 1.68 | 3.54 | 4.13 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | % | 84% | 62% | ||
| Compounded Profit Growth | % | 299% | 39% | 111% | ||
| Stock Price CAGR | % | % | 12% | 20% | ||
| Return on Equity | % | 3% | 3% | 3% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 5,994 | 7,416 | 14,671 | 22,971 | 26,002 |
| Reserves | -1 | 68 | -25 | -275 | -998 | -2,201 |
| Borrowings | 0 | 1,465 | 2,942 | 11,734 | 21,680 | 25,048 |
| Other Liabilities | 1 | 21 | 159 | 1,280 | 1,375 | 2,145 |
| Total Liabilities | 0 | 7,549 | 10,492 | 27,410 | 45,028 | 50,994 |
| Fixed Assets | 0 | 7,441 | 10,117 | 10,990 | 26,224 | 43,009 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 108 | 375 | 16,420 | 18,803 | 7,985 |
| Total Assets | 0 | 7,549 | 10,492 | 27,410 | 45,028 | 50,994 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0 | -7,243 | 624 | 805 | 2,099 | 3,820 |
| Cash from Investing Activity | 0 | -25 | -2,905 | -15,810 | -18,309 | -6,596 |
| Cash from Financing Activity | 0 | 7,331 | 2,429 | 15,258 | 16,212 | 2,930 |
| Net Cash Flow | 0 | 64 | 147 | 253 | 2 | 154 |
| Free Cash Flow | 0 | -7,243 | -2,227 | -15,025 | -16,159 | -2,824 |
| CFO/OP | 0% | -6,642% | 113% | 107% | 107% | 110% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 15 | 2 | 1 | 2 | 4 | |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 15 | 2 | 1 | 2 | 4 | |
| Working Capital Days | -44 | -50 | -372 | -175 | -132 | |
| ROCE % | 3% | 4% | 3% | 3% | 4% |
Fundamentals
Market Cap₹ 32,684 Cr.
Current Price₹ 169
Stock P/E40.9
Book Value₹ 122
ROCE4.42 %
ROE3.00 %
Dividend Yield2.50 %
Face Value₹ 134
Compounded Sales Growth (TTM)62%
Compounded Profit Growth (TTM)111%
Consolidated figures.
Valuation
Market capRs 32,907 Cr
Enterprise valueRs 34,309 Cr
P/E (TTM)41.21x
Price to book5.43x
Price to sales7.21x
EV / EBITDA9.27x
EV / EBIT15.89x
EV / sales7.52x
Earnings yield2.43%
Profitability
Operating margin (excl. other income)74.38%
Operating margin (incl. other income)76.56%
EBITDA margin81.07%
Pre-tax margin8.99%
Net profit margin17.50%
Net margin, latest quarter17.88%
ROE2.26%
ROCE2.70%
ROA0.91%
ROIC (approx.)28.22%
Tax rate2.48%
Other income / net worth0.05%
Growth
Sales growth QoQ14.53%
Profit growth QoQ14.64%
Sales growth YoY (latest quarter)28.27%
Profit growth YoY (latest quarter)93.05%
Per share
EPS (TTM)Rs 4.12
EPS (latest year)Rs 1.15
EPS (latest quarter)Rs 1.21
Book value per shareRs 31.30
Sales per shareRs 23.56
Cash flow per shareRs -37.39
Free cash flow per shareRs -14.58
Efficiency
Asset turnover0.02x
Fixed asset turnover0.02x
Debtor days15 days
Debtors turnover24.43x
Cash conversion cycle4 days
Working capital days-132 days
Leverage
Total debtRs 1,465 Cr
Cash and bankRs 64 Cr
Net debtRs 1,402 Cr
Debt to equity0.24x
Net debt / EBITDA0.38x
Interest coverage1.23x
Owners' fund to total sources80.30%
Debt to assets19.41%
Cash flow
Cash from Operating Activity (latest year)Rs -7,243 Cr
Cash from Investing Activity (latest year)Rs -25 Cr
Cash from Financing Activity (latest year)Rs 7,331 Cr
Net Cash Flow (latest year)Rs 64 Cr
Free cash flow (latest year)Rs -2,824 Cr
Cash from ops / profit, 5 years0.06x
Statement figures
Net sales (TTM)Rs 4,563 Cr
Net sales (latest year)Rs 147 Cr
Sales (latest quarter)Rs 1,312 Cr
Operating profit excl. other income (latest year)Rs 109 Cr
Operating profit (latest quarter)Rs 1,037 Cr
Other income (TTM)Rs 50 Cr
EBITDA (TTM)Rs 3,699 Cr
PBDT (TTM)Rs 1,950 Cr
Profit before tax (TTM)Rs 410 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 799 Cr
Net profit (latest year)Rs 68 Cr
Net profit (latest quarter)Rs 234 Cr
Depreciation (TTM)Rs 1,540 Cr
Depreciation (latest quarter)Rs 446 Cr
Interest (TTM)Rs 1,749 Cr
Cost of goods sold (latest year)Rs 8 Cr
Total expenditure (latest year)Rs 38 Cr
Total income (latest year)Rs 150 Cr
Share capitalRs 5,994 Cr
ReservesRs 68 Cr
Shareholders' fundsRs 6,062 Cr
Total assetsRs 7,549 Cr
Net blockRs 7,441 Cr
ReceivablesRs 6 Cr
Other liabilitiesRs 21 Cr
Shares outstanding (crore)193.69
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | NHIT | Nifty 50 | Difference |
|---|---|---|---|
| 3 years | +40.2% | +14.2% | +26.1 pts |
Red flags
| explain | High accruals Profit exceeded operating cash by 97% of total assets in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,312 Cr +28.3% vs Jun 2025.
Net profit ₹234 Cr +93.4%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Cube Highways Trust | 20,778 | 75.0 | 6.44 % |
| Vertis Infrastructure Trust | 17,622 | 20.2 | 11.0 % |
| Maple Infrastructure Trust | 9,981 | 5.36 % | |
| Indus Infra Trust | 8,004 | 20.4 | 6.77 % |
| RaajMarg Infra Investment Trust | 7,223 | % | |
| Citius Transnet Investment Trust | 7,189 | % | |
| IRB InvIT Fund | 5,079 | 15.9 | 6.96 % |
| Roadstar Infra Investment Trust | 2,824 | 2.18 % | |
| Anantam Highways Trust | 2,268 | 8.84 | 13.7 % |
| BF Utilities Ltd | 1,917 | 3.88 % | |
| Innovision Ltd | 603 | 35.0 | 20.3 % |
| Highway Infrastructure Ltd | 312 | 12.0 | 18.8 % |
| Noida Toll Bridge Company Ltd | 69 | 2.43 | 162 % |
| Gayatri Highways Ltd | 44 | 11.0 % | |
| MEP Infrastructure Developers Ltd | 13 | -401 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-08-12 | Distribution - Rs 3.187 Per Unit Consisting Of Rs 3.179 Per Unit As Interest & Re 0.008 Per Unit As Other Income | |
| 2026-05-15 | Distribution - Rs 1.970 Per Unit Consisting Of Re 1.960 Per Unit As Interest/ Rs 0.010 Per Unit As Other Income On Surplus Funds At Trust Level | |
| 2026-03-20 | Distribution - Rs 1.160 Per Unit Consists Of Re 1.157 Per Unit As Interest And Re 0.003 Per Unit As Other Income | |
| 2026-01-30 | Distribution - Rs 2.744 Per Unit Consists Of Rs 2.733 Per Unit As Interest & Re 0.011 Per Unit As Other Income | |
| 2025-11-18 | Distribution - Rs 2.471 Per Unit Consists Of Rs 2.456 Per Unit As Interest & Re 0.015 Per Unit As Other Income On Surplus Funds | |
| 2025-08-19 | Distribution - Rs 2.984 Per Unit Consists Of Rs 2.915 Per Unit As Interest/ Re 0.069 Per Unit As Other Income | |
| 2025-06-02 | Distribution - Re 0.395 Per Unit Consists Of Re 0.392 Per Unit As Interest/ Re 0.003 Per Unit As Other Income | |
| 2025-03-18 | Distribution - Rs 1.652 Per Unit Comprising Of Rs 1.644 Per Unit As Interest/ Rs 0.008 Per Unit As Other Income | |
| 2025-02-10 | Distribution - Rs 1.99 Per Unit In The Form Of Interest | |
| 2024-11-14 | Distribution - Rs 1.829 Per Unit Consisting Of Rs 1.806 As Interest / Re 0.023 Per Unit As Other Income | |
| 2024-08-16 | Distribution - Rs 1.805 Per Unit Consisting Of Rs 1.792 As Interest / Re 0.013 Per Unit As Other Income | |
| 2024-05-29 | Distribution - Re 0.705 Per Unit Consisting Of Re 0.687 Per Unit In The Form Of Interest And Re 0.018 Per Unit In The Form Of Other Income | |
| 2024-03-07 | Distribution - Rs 0.631 Per Unit Consisting Rs 0.606 Per As Interest & Re 0.025 Per Unit As Other Income On Surplus Funds | |
| 2024-02-06 | Distribution - Rs 1.697 Per Unit Consisting Rs 1.693 Per As Interest & Re 0.004 Per Unit As Other Income On Surplus Funds | |
| 2023-11-10 | Distribution- Rs 1.816 Comprising Interest- Rs 1.774 Per Unit/Other Income On Surplus Funds- Re 0.042 Per Unit | |
| 2023-05-24 | Distribution- Rs 1.6035 Comprising Interest- Rs 1.5778 Per Unit/Other Income On Surplus Funds- Rs 0.0257 Per Unit | |
| 2023-02-16 | Distribution- Rs 1.4079 Comprising Interest- Rs 1.383 Per Unit/Other Income On Surplus Funds- Rs 0.0249 Per Unit | |
| 2022-05-25 | Distribution- Rs 0.79 Comprising Return On Capital- Rs 0.71 Per Unit/Other Income On Surplus Funds- Rs 0.08 Per Unit |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of National Highways Infra Trust?
National Highways Infra Trust (NHIT) has a market capitalisation of Rs 32,684 Cr. at the 2026-10-01 close.
What is the P/E ratio of National Highways Infra Trust?
National Highways Infra Trust trades at a P/E of 40.9 on trailing twelve-month profit, at the 2026-10-01 close.
What were National Highways Infra Trust's latest quarterly results?
In the Jun 2026 quarter, National Highways Infra Trust sales was Rs 1,312 Cr (+28.3% vs Jun 2025) and net profit was Rs 234 Cr.
What is the 52-week high and low of National Highways Infra Trust?
The 52-week high is Rs 174.00 and the 52-week low is Rs 138.00.