IndiGrid Trust (INDIGRID)

FairStock Score: 49/100 — MIXED

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 1/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach IndiGrid Trust as a Graham-style income asset, not a glamour stock. At ₹140.06, market cap ₹13,342 Cr, it offers a 9.85% dividend yield, which is the first thing that catches my eye. The business is in power transmission, an industry that can carry infrastructure-like predictability, but the figures show a mixed picture. Revenue has compounded at 21.48% over five years, latest quarter sales were ₹862 Cr and net profit ₹100 Cr, with profit growth 76.33%. Free cash flow is ₹1,122 Cr, and Piotroski F-Score 7/9 suggests reasonable financial momentum. Those are strengths. But I must not ignore leverage. Debt/equity is 4.78, ROCE only 7.51%, and P/B is 3.88 against book value ₹36.08. The P/E of 58.07 looks rich for a transmission trust, even if PEG 1.32 implies growth partially justifies it. ROE of 315.17% is almost certainly distorted by a small equity base and heavy leverage, so I treat it with scepticism. The FairStock Score of 49/100 says mixed, not outstanding. The stated 52W range of ₹161.01–₹176.00 above the current ₹140.06 would, if accurate, put the price below that band, but I will not build a thesis on a data quirk. For an Indian retail investor, IndiGrid is a yield play with growth from assets and distributions. The margin of safety is in the near-10% yield and FCF, not in book value or low leverage. I would monitor distribution coverage, debt cost/refinancing, and whether ROCE improves. At this price, it can be a small income holding, but not a fat-pitch bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer