Capital Infra Trust · NSE:CAPINVIT
Capital Infra Trust — Q4 FY2025 Earnings Presentation
29 slides from Capital Infra Trust's earnings presentation, May 2025
Slide 1: Investor Presentation Q4 & FY25
Investor Presentation Q4 & FY25
Slide 2: Disclaimer
Disclaimer This presentation is prepared and issued by Capital Infra Trust Limited on behalf of and in its capacity as the investment manager of Capital Infra Trust for general information purposes only without regards to specific objectives, financial situations or needs of any particular person an
Slide 3: Agenda
Agenda 1 2 3 Vision 3G Growth Strategy Core Competencies 4 5 6 Operational & FY26 Guidance Q4 & FY25 Financial Industry Updates Highlights
Slide 4: Vision 3G: A Roadmap to Sustainable Growth
Vision 3G: A Roadmap to Sustainable Growth Growth Committed to achieve an AUM target of ~USD 5 Billion by 2030 Governance Best in class Governance Practices in Place Unique Structure of PMA and ROFO agreement Goal Sustainable Distribution with Risk-free Consistent Returns To deliver consistent and s
Slide 5: Capital Infra Trust - InvIT Structure
Capital Infra Trust - InvIT Structure Sponsor Investors Gawar Construction Ltd Unitholders 1 2 Investment Manager Axis Trustee Services Ltd Gawar Investment Manager Project Manager 100% Ownership Gawar Construction Ltd Portfolio of Assets Rohna Jhajjar Khajuwala Poogal Narnaul Bypass Rohna Sonepat H
Slide 6: Capital Infra Trust: Road InvIT
Capital Infra Trust: Road InvIT Rampur - Kathgodam (NH - 87, New NH - 9,109) Kiratpur - Nerchowk (NH - 21) Narnaul - Paniyala Mor Rs. 4,912 Cr 9 HAM Assets 7 (NH - 148B) Asset Under Initial Portfolio States Covered Rohna - Jhajjar (NH - 334B) Management Assets Rohna - Sonepat (NH - 344 B) Khajuwala
Slide 7: Growth Strategies to Achieve Our Vision
Growth Strategies to Achieve Our Vision …Backed by Strong Driving Robust AUM Growth… …Through Strategic Asset Fundamentals to Deliver Additions Sustainable Returns Stable Yield for investors 17 ROFO HAM Assets in Pipeline Credit Rating – AAA rated by Crisil Potential Increase in Revenue Vi
Slide 8: Driving Robust AUM Growth
Driving Robust AUM Growth… Sustainable Yield Revenue Momentum Predictable DPU Strong Visibility for Asset Addition… …will accelerate AUM Asset Addition Target for next 2 years Aim to Increase AUM to ~Rs.11,000 Cr by FY27E 17 13 9 4 4 FY25 FY26E FY27E New Assets Commulative Assets FY25 FY26E FY27E ©
Slide 9: Through Strategic Asset Additions
…Through Strategic Asset Additions Rudrapur Bypass i. Mo to Sihuni i. Bijni to Mandi ii.Kangra Bypass ii.Shimla Bypass (Pkg2) iii.Padhar to Bijni iii.Sihuni to Rajol iv.KBNC Highway 17 ROFO Assets Fazilka to Abohar Bhiwani-Hansi Bypass Behsuma-Bijnor JRR (Pkg-1 2,000+ Lane Kms Basukinath- KIM Deogha
Slide 10: Core Competencies: Key Strengths Driving Our Success
03 Core Competencies: Key Strengths Driving Our Success
Slide 11: Backed by Strong Sponsor - Gawar Construction Limited
Backed by Strong Sponsor - Gawar Construction Limited Class I Contractor STRE NGTH 25+Years of Experience Into construction of Qualified to bid for single Roads, Highways, • EPC project of Rs. 5,500 Cr* Bridges, Metro, Flyovers Early completion No • HAM of Rs. 5,500 Cr* for the Govt. / Semi Govt
Slide 12: A Capable Project Manager for Effective Portfolio Management
A Capable Project Manager for Effective Portfolio Management Strong Execution Track Record Operational Efficiency Manpower Healthy Liquidity Position Ability to execute complex projects Vertically integrated construction Large team of experienced Robust Balance sheet as Sponsor Track record of d
Slide 13: A Strong Start: HAM Assets with an Impressive Bid Project Cost
A Strong Start: 9 HAM Assets with an Impressive Bid Project Cost of ~Rs. 9,000+ Cr Sovereign Counter Low Risk Asset ~2,100 Lane Kms Party- NHAI Portfolio Residual Total Design End of Bid Project No. of Concession Annuities Project Length Location State Concession PCOD COD Cost Annuities Period Recei
Slide 14: Prudent Financial Management: Ensuring Strong Balance Sheet
Prudent Financial Management: Ensuring Strong Balance Sheet Gross Borrowings AAA Stable ~7.68% ~ 44% Rs. 2,363 Cr as NCDs Credit Rating Floating rate Net Debt/ of borrowing Value of Assets ~1.75 ~13 years Series 1: Rs. 1,200 Cr Series 2: Rs. 1,163 Cr Average Debt Fixed interest Fixed interest DSCR T
Slide 15: Competitive Advantage: The Unique Value Proposition
Competitive Advantage: The Unique Value Proposition Advantageous Long-Term ROFO Tax Benefits on Optimized PMA Structure Structure for 10 Dividends Debt Structured Years PMA contract is well Dividends from two Competitive cost of structured and offers a assets, namely BRT debt with accelerated If R
Slide 16: Credible Board & Experienced Management Team
Credible Board & Experienced Management Team Mr. Yudhvir Singh Malik - Chairman & Independent Director Mr. Rakesh Kumar - Director Retired IAS officer Promoter Director at GCL Ex Chairman of NHAI, Ex Secretary of MoRTH Over 30 years of experience in the civil construction Currently serves
Slide 17: Q4 & FY25: Operational & Industry Updates
04 Q4 & FY25: Operational & Industry Updates
Slide 18: Q4 FY25: Operational Performance Update
Q4 FY25: Operational Performance Update Key Milestones Site Report ➢ Zero Fatality ➢ Satisfactory road condition of Main Carriage way in all projects ➢ Zero encroachment ➢ No damages levied by authority Completion Status Riding Quality ➢ 6 projects have achieved COD ➢ Satisfactory riding quality in
Slide 19: Key Industry Updates- Road Sector
Key Industry Updates- Road Sector Opportunities in Road Sector Highway Construction in India (Kms) HAM Model Continues to Garner Traction Budgetary Outlay for Roads (USD Bn) BOT Toll EPC HAM/Annuity 13,298 12,349 33 33 33 10,993 10,855 8 10,457 10,421 10,237 9,829 26 27 46 40 47 56 51 55 8,231 59 60
Slide 20: Key Industry Updates- InvIT
Key Industry Updates- InvIT AUM of Road InvITs (Rs. Lakh Cr) Other Sector 78% InvITs, 5 Growth 3.27 2.38 26 Power 1.84 Sector Road Sector Listed InvITs InvITs, 5 InvITs, 16 1 0.65 FY22 FY23 FY24 FY25 (p) FY26 (p) AUM- Road InvITs as on Sep 2024 Projected Growth: AUM of Road InvITs is expected to gro
Slide 21: FY26: Outlook and Guidance
05 FY26: Outlook and Guidance
Slide 22: FY26 Guidance
FY26 Guidance Value accretive distribution to Stakeholders Rs. 6.86/unit Rs. 7.75/unit Rs. 14.61/unit (H1FY26) (H2FY26) (FY26) 14.75% Yield* (FY26) * Calculated on the Issue Price of Rs. 99 per unit. It includes the Q1 FY25-26 interim distribution of Rs. 2.61 per unit. © 2025 Capital Infra Trust. Al
Slide 23: FY25: Financial Highlights
06 FY25: Financial Highlights
Slide 24: FY25 Financial Highlights
FY25 Financial Highlights Particulars (Rs. Million) H2FY25 FY25 Total Income 1,706.63 1,706.63 Operating Expenses 1,617.59 1,617.59 EBITDA 89.04 89.04 Profit before Tax (499.61) (499.61) Net Profit (373.10) (373.10) NDCF 6,578.50 6,578.50 DPU (Rs. per unit) 23.89 23.89 Comparable financials are not
Slide 25: FY25 Distribution Update
FY25 Distribution Update Particulars FY25 Distribution per unit (DPU) (Rs.) 23.9 Taxable Dividend 18.1 Exempt Dividend for interim distribution 1.4 ➢ In FY25, DPU is higher due to release of reserves Interest 1.0 ➢ Starting FY26, distribution is expected Repayment of USL 3.4 to be consistent and sus
Slide 26: FY25 Net Distributable Cash Flow
FY25 Net Distributable Cash Flow Rs. in Million 6,579 6,912 148 7 - -203 -286 2,532 908 -14 -1,624 © 2025 Capital Infra Trust. All Rights Reserved. 26
Slide 27: Distribution Composition and Build up
Distribution Composition and Build up Performance 12.71 11.22 11.18 Damages/Disputes 6.87 3.37 Reliability 1.38 0.93 0.11 - - 0.01 Dividend Taxable Dividend Exempt Interest Repayment of Loan Other Income Total Feb-25 June 25 Total distribution for FY25 is Rs. 23.89 per unit amounting to ~Rs. 657.9 C
Slide 28: Well-Diversified Investor Base
Well-Diversified Investor Base Unitholding Pattern (As on 31st March 2025) Unit Holders Bank Others PF 1% FPI 3% 4% Public 4% 9.2% Held by Group 6% AIF Sponsor 6% 42% 12.0% Held by Corporates Insurance 10% Mutual Funds Held by Pension Fund, AIFs , FPIs, 12% Corporates 17.6% Banks 12% 10.1% Held by I
Slide 29: Thank You
THANK YOU Capital Infra Trust (erstwhile National Infrastructure Trust)
Capital Infra Trust — Q4 FY2025 Earnings Presentation on 6ix