542543
Energy InfrTrust share price & financials
- Price
- ₹79.75
- Market cap
- ₹4.8k Cr
- Sector
- Oil, Gas & Consumable Fuels
- Calls analysed
- 1
Energy InfrTrust Q4 FY26
What went well
- Realized tariff increased to INR 84.6 per MMBTU in Q4 FY26, up from INR 78.6 per MMBTU in Q3 FY26, driven by a favorable PNGRB order.
- FY26 distribution of INR 15.3 per unit (INR 8 return of capital, INR 7.2 return on capital) reflects a consistent payout ratio of 98.6% over the last five years.
- Strong credit ratings of AAA/Stable by CRISIL and CARE enable access to refinancing at favorable terms and support long-term growth.
What to watch
- Volumes transported in FY26 were almost flat at 34.46 MMSCMD, slightly down from 35.45 MMSCMD in FY25.
- Analyst concern regarding the Crown LNG project's status and timeline, with management stating they will review updates in the next 6 months for potential war/logistics delays.
What Energy InfrTrust does
Energy Infrastructure Trust (EIT, formerly India Infrastructure Trust) is a Brookfield-sponsored InvIT that owns 100% of Pipeline Infrastructure Ltd (PIL), India's first pure gas-transmission company, built in 2008. PIL operates the sole pipeline evacuating natural gas produced in the KG Basin on India's east coast to demand centers in the west and north, under a 20-year Pipeline Usage Agreement with Reliance Industries Limited. EIT earns Contracted Capacity Payments from reserved pipeline capacity plus tariff-based transportation charges on gas volumes, with any operations, maintenance or capex overruns borne by RIL and an upside share linked to PIL's ROCE.
Segments
- Natural gas transmission (PIL pipeline)
- Pipeline length
- 1,483 km
- Design capacity
- 85 mmscmd
- Compressor stations
- 10 (CS-1 to CS-10)
- Operation centers
- 2
- City gas distribution (CGD) networks connected
- 16
- GTA (Gas Transportation Agreement) customers
- 60+
Guidance record · Q4 FY26
what the last two calls moved 6 tracked 0 delivered 0 missed 6 open- Volume Growth open said Q4 FY26 Promised: flat for next 2 years Q4 FY26: However, to specifically answer your question, for next 2 years, our volumes are flat.
All 6 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 86.5%, net profit down 89.1% against the same quarter last year.
| Line item | Q1 FY25 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 150 | 150 | 203 | 267 | 128 −15% | 34 −77% | 122 −40% | 36 −87% |
| EBITDA | 144 | 144 | 196 | 258 | 116 −19% | 24 −83% | 110 −44% | 28 −89% |
| Net profit | 144 | 53 | 196 | 258 | 51 −65% | 24 −55% | 110 −44% | 28 −89% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −16.9% 1Y
1Y: ₹87.25 on 10 Sept 2025 → ₹72.5. High ₹94.07 (6 Jan 2026), low ₹72.5 (11 Sept 2026).
How the price took the results
close before → close after
- Q4 FY26
- 0.0%
- 14 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹551 Cr |
| Operating profit | ₹508 Cr |
| Operating margin | 92.2% |
| Interest | ₹0 Cr |
| Depreciation | ₹0 Cr |
| Net profit | ₹443 Cr |
| Net margin | 80.4% |
| Cash from operations | ₹-16 Cr |
| Free cash flow | ₹-16 Cr |
| ROCE | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5.6k Cr | ₹5.2k Cr | ₹4.7k Cr | ₹4.2k Cr | ₹3.5k Cr | ₹6.6k Cr |
| Reserves | ₹1.9k Cr | ₹1.8k Cr | ₹1.3k Cr | ₹1.9k Cr | ₹-2.6k Cr | ₹-1.4k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹6.5k Cr | ₹0 Cr |
| Other liabilities | ₹60 Cr | ₹74 Cr | ₹85 Cr | ₹121 Cr | ₹5.6k Cr | ₹143 Cr |
| Total liabilities | ₹7.5k Cr | ₹7.1k Cr | ₹6.1k Cr | ₹6.2k Cr | ₹13.0k Cr | ₹5.4k Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹11.3k Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹39 Cr | ₹0 Cr |
| Investments | ₹7.5k Cr | ₹7.0k Cr | ₹6.0k Cr | ₹6.2k Cr | ₹403 Cr | ₹5.4k Cr |
| Other assets | ₹54 Cr | ₹49 Cr | ₹50 Cr | ₹47 Cr | ₹1.3k Cr | ₹3 Cr |
| Total assets | ₹7.5k Cr | ₹7.1k Cr | ₹6.1k Cr | ₹6.2k Cr | ₹13.0k Cr | ₹5.4k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Learn to analyse Energy InfrTrust
Guides on how to read this kind of business and the numbers that matter.