Order Book Or Contract Wins
Expected: Not GivenHIGH confidence
What: ROFO Solar Assets: ~813 MWp
“Right of First Offer (“ROFO”) on 12 solar projects : ~813 MWp... Growth visibility from ROFO assets”
Anzen India Energy Yield Plus Trust: Why Is It Outperforming Nifty 500?
ActiveAverage11w Streak
In , Anzen India Energy Yield Plus Trust (Miscellaneous) is outperforming Nifty 500 with +8.6% relative strength. Fundamentals: Average. On a 11-week streak.
Anzen India Energy Yield Plus Trust Key Facts
- Market Cap
- ₹3,286 Cr
- PAT Growth YoY
- -24%
- Revenue Growth YoY
- +64%
- OPM
- 86.3%
- RS vs Nifty 500
- +8.6%
Emerging Opportunity
What's Happening
⏳Steady earner with flat PE — waiting for re-rate catalyst
💰Trading 102% below estimated fair value — significant discount
Earnings Acceleration Triggers
1. Order Book Or Contract Wins
Not GivenHIGH
2. Tam Expansion Changing Consumption
FY24-FY30HIGH
3. Operating Leverage Inflection
FY23MEDIUM
Key Risks
1. Revenue is linked to availability and transmission service agreements (TSA)
MEDIUM2. Exposure to energy demand trends and installed capacity shifts
LOWSector-Specific Signals
Transmission Availability99.98%+0.04%
Residual Contract Period29 years
Net Debt/AUM28%
Average Cost of Debt8.14%
Key Numbers
PAT Growth YoY
-24%
Inflection Down
Revenue YoY
+64%
Stable
Operating Margin
86.3%
-236 bps YoY
Current Price
₹128
Dividend Yield
7.51%
Fundamental Score
40/100
Average
3Y PAT CAGR
+26%
Market Cap
3.2K Cr
Valuation
Significantly Undervalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Anzen India Energy Yield Plus Trust's Earnings Accelerating?
Based on Q1 FY26 earnings • Updated Apr 18, 2026
Tam Expansion Changing Consumption
Expected: FY24-FY30HIGH confidence
What: Industry Capex: ₹28-28.5 tn
“Total Investment : Rs 28-28.5 tn (~USD 355 bn)... Growing focus on clean energy in supply mix to accelerate spending on renewables”
Operating Leverage Inflection
Expected: FY23MEDIUM confidence
What: Transmission Availability: 99.96% - 99.98%
Impact: ₹3.3 Cr incentive
“Normative Availability @ 98%... Incentive income – Rs 33 mn... Availability 99.96% 99.98% FY23”
What Are the Key Risks for Anzen India Energy Yield Plus Trust?
Earnings deceleration risks from management commentary
Revenue is linked to availability and transmission service agreements (TSA)
MEDIUMTrigger: The business model relies on maintaining high availability to meet TSA requirements.
Management view: Use of technology like drones and centralized control rooms for regular monitoring to minimize downtime.
Monitor: regulatory
Exposure to energy demand trends and installed capacity shifts
LOWTrigger: Changes in the energy mix (coal vs. renewables) affect the long-term utility of transmission assets.
Management view: Focusing on a diversified portfolio including solar, hybrid, and storage to mitigate sector-specific shifts.
Monitor: commodity
What Is Anzen India Energy Yield Plus Trust's Management Saying?
Key quotes from recent conference calls
“FY24 DPU guidance : Rs 9.8 per Unit [Previous DPU Guidance guidance]”
“Right of First Offer (“ROFO”) on 12 solar projects : ~813 MWp... Focus on generating total returns through long term predictable yield [Initiative: ROFO Solar Asset Acquisition]”
“Revenue linked to availability... Transmission Service Agreement tenor of 35 years... Centralized control room for regular monitoring [Risk (regulatory): MEDIUM]”
“Energy Demand Trends... Installed Capacity (GW)... Sectors : transmission, solar, hybrid, storage [Risk (commodity): LOW]”
What Did Anzen India Energy Yield Plus Trust Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹99.9 Cr
Revenue reflects the consolidated performance for the partial period from November 11, 2022, to March 31, 2023.
EBITDA
₹85.2 Cr
Margin 85.3%
EBITDA margin remains high at 85.3% for the consolidated trust performance during the reported period.
Other Highlights
• Cumulative distribution of ₹57.8 Cr for the period from November 11, 2022, to March 31, 2023.
• Combined portfolio asset revenue of ₹243.1 Cr and EBITDA of ₹212.2 Cr for FY23.
• Average cost of debt maintained at 8.14% as of March 31, 2023.
What Sector Metrics Matter for Anzen India Energy Yield Plus Trust?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Transmission Availability
99.98%
YoY +0.04%
Why: Active intervention in maintaining power evacuation infrastructure and use of tech-enabled monitoring.
Residual Contract Period
29 years
Net Debt/AUM
28%
Average Cost of Debt
8.14%
ROFO Solar Capacity
813 MWp
Incentive Income
₹3.3 Cr
Why: High availability performance above normative levels.
Total Circuit Kilometers
855 ckms
FY24 DPU Guidance
₹9.8
What Is Anzen India Energy Yield Plus Trust's Management Guidance?
Forward-looking targets from management
Capex Plan
₹2.5 tn
Transmission capex driven by RE capacity addition
Management Tone: BULLISH
Guidance Changes
REAFFIRMED
DPU Guidance: Rs 9.8 per Unit → Rs 9.8 per Unit
How Fast Is Anzen India Energy Yield Plus Trust Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +64% | +65% | Stable |
| PAT (Net Profit) | -24% | +26% | Inflection Down |
| OPM | 86.3% | -236 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
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Frequently Asked Questions: Anzen India Energy Yield Plus Trust
Based on publicly available financial data. This is educational research, not investment advice.
What were Anzen India Energy Yield Plus Trust's latest quarterly results?
Anzen India Energy Yield Plus Trust's latest quarterly results (Dec 2025) show
- PAT Growth YoY: -24.1% (inflecting downward)
- Revenue Growth YoY: +64.1%
- Operating Margin: 86.3% (volatile)
Is Anzen India Energy Yield Plus Trust's profit growing or declining?
Anzen India Energy Yield Plus Trust's profit is declining with an inflecting downward trend.
- PAT Growth YoY: -24.1% (latest quarter)
- PAT Growth QoQ: +50.8% (sequential)
- 3-Year PAT CAGR: +26.5%
- Trend: Inflecting downward — consistent growth pattern
What is Anzen India Energy Yield Plus Trust's revenue growth trend?
Anzen India Energy Yield Plus Trust's revenue growth trend is stable.
- Revenue Growth YoY: +64.1%
- Revenue Growth QoQ: +3.0% (sequential)
- 3-Year Revenue CAGR: +65.3%
How is Anzen India Energy Yield Plus Trust's operating margin trending?
Anzen India Energy Yield Plus Trust's operating margin is volatile.
- Current OPM: 86.3%
- OPM Change YoY: -2.4% basis points
- OPM Change QoQ: +6.8% basis points
What is Anzen India Energy Yield Plus Trust's 3-year profit and revenue CAGR?
Anzen India Energy Yield Plus Trust's long-term compounding rates
- 3-Year Profit CAGR: +26.5%
- 3-Year Revenue CAGR: +65.3%
Is Anzen India Energy Yield Plus Trust's growth accelerating or decelerating?
Anzen India Energy Yield Plus Trust's earnings growth is inflecting downward with mixed signals on a sequential basis.
- YoY Acceleration: +55.9% bps
- Sequential Acceleration: +100.0% bps
- Margin Warning: Operating margins are under pressure
What is Anzen India Energy Yield Plus Trust's trailing twelve month (TTM) performance?
Anzen India Energy Yield Plus Trust's trailing twelve month (TTM) performance
- TTM PAT: ₹-10 Cr
- TTM PAT Growth: +42.7% YoY
- TTM Revenue: ₹392 Cr
- TTM Revenue Growth: +55.9% YoY
- TTM Operating Margin: 85.1%
Is Anzen India Energy Yield Plus Trust overvalued or undervalued?
Anzen India Energy Yield Plus Trust appears significantly undervalued based on our fair value analysis.
- Valuation Signal: Significantly Undervalued
- Price-to-Book: 1.7x
What is Anzen India Energy Yield Plus Trust's price-to-book ratio?
Anzen India Energy Yield Plus Trust's price-to-book ratio is 1.7x.
- Price-to-Book (P/B): 1.7x
- Book Value per Share: ₹74
- Current Price: ₹128
Is Anzen India Energy Yield Plus Trust a fundamentally strong company?
Anzen India Energy Yield Plus Trust is rated Average with a fundamental score of 40.4/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +64.1% (10% weight)
- PAT Growth YoY: -24.1% (10% weight)
- PAT Growth QoQ: +50.8% (10% weight)
- Margins stable (10% weight)
Is Anzen India Energy Yield Plus Trust debt free?
Anzen India Energy Yield Plus Trust has a debt-to-equity ratio of N/A.
- Total Debt: ₹2,000 Cr
What is Anzen India Energy Yield Plus Trust's return on equity (ROE) and ROCE?
Anzen India Energy Yield Plus Trust's return ratios over recent years
- FY2024: ROCE 1.0%
- FY2025: ROCE 2.0%
Is Anzen India Energy Yield Plus Trust's cash flow positive?
Anzen India Energy Yield Plus Trust's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹240 Cr
- Free Cash Flow (FCF): ₹-1,000 Cr
What is Anzen India Energy Yield Plus Trust's dividend yield?
Anzen India Energy Yield Plus Trust's current dividend yield is 7.51%.
- Dividend Yield: 7.51%
- Current Price: ₹128
How long has Anzen India Energy Yield Plus Trust been outperforming Nifty 500?
Anzen India Energy Yield Plus Trust has been outperforming Nifty 500 for 11 consecutive weeks, indicating consistent outperformance.
Is Anzen India Energy Yield Plus Trust a new momentum entry or an established outperformer?
Anzen India Energy Yield Plus Trust is an established outperformer with 11 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Anzen India Energy Yield Plus Trust?
Anzen India Energy Yield Plus Trust has 3 key growth catalysts identified from recent earnings analysis
- Order Book Or Contract Wins — Growth visibility is provided by the Right of First Offer on 12 solar projects.
- Tam Expansion Changing Consumption — India's energy transition is driving massive investment in renewables and transmission infrastructure.
- Operating Leverage Inflection — High availability above normative levels leads to incentive income and revenue enhancement.
What are the key risks in Anzen India Energy Yield Plus Trust?
Anzen India Energy Yield Plus Trust has 2 key risks worth monitoring
- [MEDIUM] Revenue is linked to availability and transmission service agreements (TSA) — The business model relies on maintaining high availability to meet TSA requirements.
- [LOW] Exposure to energy demand trends and installed capacity shifts — Changes in the energy mix (coal vs. renewables) affect the long-term utility of transmission assets.
What did Anzen India Energy Yield Plus Trust's management say in the latest earnings call?
In Q1 FY26, Anzen India Energy Yield Plus Trust's management highlighted
- "FY24 DPU guidance : Rs 9.8 per Unit [Previous DPU Guidance guidance]"
- "Right of First Offer (“ROFO”) on 12 solar projects : ~813 MWp... Focus on generating total returns through long term predictable yield [Initiative: R..."
- "Revenue linked to availability... Transmission Service Agreement tenor of 35 years... Centralized control room for regular monitoring [Risk (regulato..."
What is Anzen India Energy Yield Plus Trust's management guidance for growth?
Anzen India Energy Yield Plus Trust's management has provided the following forward guidance
- Revenue outlook: Not Given
- Margin outlook: Not Given
- Capex plan: ₹2.5 tn for Transmission capex driven by RE capacity addition
- Management tone: bullish
- Milestone: [REAFFIRMED] DPU Guidance: Rs 9.8 per Unit → Rs 9.8 per Unit
What sector-specific metrics matter most for Anzen India Energy Yield Plus Trust?
Anzen India Energy Yield Plus Trust's most important sub-sector-specific KPIs from the latest concall
- Transmission Availability: 99.98% (YoY +0.04%) — Active intervention in maintaining power evacuation infrastructure and use of tech-enabled monitoring.
- Residual Contract Period: 29 years
- Net Debt/AUM: 28%
- Average Cost of Debt: 8.14%
- ROFO Solar Capacity: 813 MWp
- Incentive Income: ₹3.3 Cr — High availability performance above normative levels.
Is Anzen India Energy Yield Plus Trust worth studying for long term investment?
Based on quantitative research signals, here is why Anzen India Energy Yield Plus Trust may be worth studying
- Valuation: appears significantly undervalued
- Cash flow is positive — CFO ₹240 Cr
What is the investment thesis for Anzen India Energy Yield Plus Trust?
Anzen India Energy Yield Plus Trust investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +64.1% YoY
- Appears significantly undervalued
- Growth catalyst: Order Book Or Contract Wins
Risk Factors (Bear Case)
- Margins under pressure
- Key risk: Revenue is linked to availability and transmission service agreements (TSA)
What is the future outlook for Anzen India Energy Yield Plus Trust?
Anzen India Energy Yield Plus Trust's forward outlook based on current data signals
- Earnings Trend: inflecting downward
- Revenue Trend: stable
- Margin Trend: volatile
- Valuation: Significantly Undervalued
- Key Catalyst: Order Book Or Contract Wins
- Key Risk: Revenue is linked to availability and transmission service agreements (TSA)
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.