Sector Alpha Week of 2026-08-14
Sector Alpha — machine-written from the numbers · Data as of 2026-08-14

NDR INVIT Trust

NDRINVIT
Infrastructure Investment Trusts

NDR INVIT Trust's price has outrun its earnings. +26.4% in a year against EPS −17.6% — the market is paying now for delivery later.

The sharpest disagreement: the price moved +26.4% in a year while annual EPS moved −17.6% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a confirmed uptrend (46 weeks in) while the P/E sits at the 100th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit −5.3% year on year, and 288% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Price
₹143
+26.4% 1Y
P/E
65.6×
100th pctile
of its own 2-year range
Revenue (Jun 26)
₹124 Cr
+21.6% YoY
Profit (Jun 26)
₹36.0 Cr
−5.3% YoY
Operating margin
89.0%
+3.0 pp YoY
ROCE
5%
FY26
Cash conversion
288%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

NDR INVIT Trust trades at ₹143, in a confirmed uptrend and 46 weeks into that stage. That is +17.0% against its own 200-day average. It sits at 91% of a 52-week range of ₹107 to ₹146. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (2 weeks and counting).

Today the stock is in a confirmed uptrend — week 46 of stage 2, confirmed. At ₹143 it trades +17.0% versus its 200-day average and sits at 91% of its 52-week range (₹107–₹146).

Aug 26: ₹143 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
+17.0% versus the 200-day line, week 46 of stage 2
Price50-day avg200-day avg
S1S2₹150₹136₹123₹110₹96.7₹143₹122Feb 24Oct 24Oct 25Apr 26Aug 26
S1S2₹150₹136₹123₹110₹96.7₹143₹122Feb 24Oct 25Aug 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (78 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Feb 24Aug 26

Against the market, two honest reads. Cumulative: over the last 2.5 years the stock moved +40% while the NIFTY 500 moved +17% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (2 weeks and counting; last ahead the week of 2026-07-21) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

NDR INVIT Trust trades at 65.6× P/E, about the priciest it has ever traded. Its long-run median P/E is 36.8×, measured across 1.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 65.6× is about the priciest it has ever traded, against a long-run median of 36.8× measured over 1.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 65.6× vs a 36.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 1.7-year window; loss-period spikes above 60× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
61.7×₹3.854.1×₹2.946.5×₹1.938.8×₹1.031.2×₹0.0×59.60×₹2Dec 24Oct 25Feb 26Apr 26Aug 26
61.7×₹3.854.1×₹2.946.5×₹1.938.8×₹1.031.2×₹0.0×59.60×₹2Dec 24Feb 26Aug 26
P/E
65.6×
100th percentile of 2y

🚨 Why the multiple sits where it does: over the past year annual EPS moved −17.6% against a +26.4% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

NDR INVIT Trust reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 6 quarters across 1 curve, on partial evidence.

Growth, year by year: revenue +29.6% in FY26, profit −17.5% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
712%328%499%226%287%124%74%21%−139%−81%%%29.6%−17.5%FY22FY24FY26
712%328%499%226%287%124%74%21%−139%−81%%%29.6%−17.5%FY22FY24FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
129%97%99%49%68%0.0%37%−47%6.2%−95%%%21.6%−5.3%−21.6%Mar 24Mar 25Jun 26
129%97%99%49%68%0.0%37%−47%6.2%−95%%%21.6%−5.3%−21.6%Mar 24Mar 25Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
12%8.9%6.0%3.1%0.2%%5%FY23FY24FY26
12%8.9%6.0%3.1%0.2%%5%FY23FY24FY26
ROCE
Falling
latest 5.0% · span 1.0%–11.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+29.6%+24.6%
Profit−17.5%+43.8%
EPS−17.6%
Share price+26.4%
Revenue YoY (Jun 26)
+21.6%
latest quarter vs a year ago
Profit YoY (Jun 26)
−5.3%
latest quarter vs a year ago
Revenue 10y
25.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

42.6/100 — rank 8 of 9 in Infrastructure Investment Trusts · 46% evidence confidence · provisional, ranked below fully-evidenced peers

NDR INVIT Trust scores 42.6 out of 100 against the 9 companies it is compared with in Infrastructure Investment Trusts, ranking 8. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 15.5 + 10.3 + 4.3 + 12.5 = 42.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if ROA rolls over or gross NPA rises while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

NDR INVIT Trust reported ₹124 Cr of revenue in the Jun 26 quarter, +21.6% year on year. That is the 6th straight quarter of year-on-year growth. Over 4 years it has compounded at 25.4% a year. The last full year, FY26, came in at ₹420 Cr. The last four reported quarters add to ₹443 Cr.

FY26 revenue came in at ₹420 Cr (+29.6% on the year), capping 4 years at 25.4% compound. The latest quarter (Jun 26) printed ₹124 Cr, +21.6% year on year — the 6th consecutive quarter of year-over-year growth.

FY26 revenue ₹420 Cr (+29.6% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
25.4% a year over 4 years
RevenueYoY growth
454712%340499%227287%11374%0−139%₹ Cr%₹42029.6%FY22FY24FY26
454712%340499%227287%11374%0−139%₹ Cr%₹42029.6%FY22FY24FY26
Jun 26: ₹124 Cr (+21.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
6th straight quarter of growth
Revenue (quarterly)YoY growth
134129%10099%6768%3337%06.2%₹ Cr%₹12421.6%Mar 24Mar 25Jun 26
134129%10099%6768%3337%06.2%₹ Cr%₹12421.6%Mar 24Mar 25Jun 26

Pace check: the last four quarters averaged +27.3% growth against the decade's 25.4% — the current year is running faster than its own long-run rate.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

NDR INVIT Trust's operating margin is 89.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged 72.0% to 87.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 89.0%, +3.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 72.0%–87.0%, and FY26's 87.0% is the top of that band — a record year.

Why the margin moved: operating margin went +2.8 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 87.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 5-year window.
the widest a 72.0–87.0% band over 5 years
operating marginYoY change (pp)
88%17%84%10%80%4.0%75%−2.4%71%−8.8%%%87%0%FY22FY24FY26
88%17%84%10%80%4.0%75%−2.4%71%−8.8%%%87%0%FY22FY24FY26
Jun 26: 89.0% operating margin (+3.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
90%16%85%12%81%7.0%76%2.4%71%−2.3%%%89%3%Mar 24Mar 25Jun 26
90%16%85%12%81%7.0%76%2.4%71%−2.3%%%89%3%Mar 24Mar 25Jun 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

NDR INVIT Trust earned ₹36.0 Cr of net profit in the Jun 26 quarter, −5.3% year on year. Full-year FY26 profit was ₹113 Cr. The 4-year compound rate is 50.5%. That is 29.0% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr.

Jun 26 profit was ₹36.0 Cr, −5.3% year on year. On the full year, FY26 printed ₹113 Cr (−17.5%), and the 4-year compound rate is 50.5%.

FY26 profit ₹113 Cr (−17.5% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
50.5% a year over 4 years
Net profitYoY growth
148718%111511%74304%3797%0−110%₹ Cr%₹113−17.5%FY22FY24FY26
148718%111511%74304%3797%0−110%₹ Cr%₹113−17.5%FY22FY24FY26
Jun 26: ₹36.0 Cr (−5.3% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
4297%3249%210.0%11−47%0−95%₹ Cr%₹36−5.3%Mar 24Mar 25Jun 26
4297%3249%210.0%11−47%0−95%₹ Cr%₹36−5.3%Mar 24Mar 25Jun 26

🚨 Why profit moved: revenue contributed +21.6% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −15.2% vs revenue +27.3%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 288% of NDR INVIT Trust's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹531 Cr of operating cash against ₹113 Cr of profit. After ₹796 Cr of capital spending, ₹−265 Cr was left as free cash.

FY26: operating cash of ₹531 Cr against reported profit of ₹113 Cr, leaving free cash of ₹−265 Cr after ₹796 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 288% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹531 Cr vs profit ₹113 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 5-year window, annual resolution. FY24 reflects an acquisition year — point shown clipped.
288% of 3-year profit arrived as cash
Operating cashNet profitFree cash
622291−40−371−702₹ Cr₹531₹113₹−265FY22FY24FY26
622291−40−371−702₹ Cr₹531₹113₹−265FY22FY24FY26
FY26: CFO = 470% of profit (three-year rate 288%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
348%175%0.0%−169%−342%%300%FY22FY24FY26
348%175%0.0%−169%−342%%300%FY22FY24FY26

Why conversion sits at 288%: the cash cycle tightened 15 days between FY22 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 27.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

NDR INVIT Trust's cash conversion cycle runs 23 days in FY26, down from 38 days in FY22. Capital spending ran ₹4,289 Cr over the last 3 years. At FY26 sales of ₹420 Cr each day of that cycle holds about ₹1.2 Cr, so roughly ₹26.0 Cr sits inside the business at any moment.

FY26: debtors at 23 days (an asset-light business — no inventory to speak of) — for a full cycle of 23 days, tighter than FY22's 38.

In money terms: at FY26 sales of ₹420 Cr, each day of the cycle holds about ₹1.2 Cr — so the 23-day loop keeps roughly ₹26.0 Cr sitting inside the business at any moment.

FY26: a 23-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 5-year window.
−15 days vs FY22
Cash cycleDebtor days
250189128676days23d23dFY22FY23FY24FY25FY26
250189128676days23d23dFY22FY24FY26

On the investment side: capital spending of ₹4,289 Cr over the last 3 fiscal years against ₹154 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹95.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹796 Cr, work-in-progress ₹95.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
2.8k2.1k1.4k6990₹ Cr₹796₹95FY23FY24FY26
2.8k2.1k1.4k6990₹ Cr₹796₹95FY23FY24FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

NDR INVIT Trust earns a ROCE of 5% in FY26. That is up from a trough of 1% in FY24. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 26.9% net margin on 0.07× asset turns.

FY26 ROCE is 5%, recovered from a FY24 trough of 1% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 26.9% net margin × 0.07× asset turns × 1.70× balance-sheet leverage ≈ 3.2% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

FY26: ROCE 5% Return on capital employed by fiscal year, % (line). 4-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY24's 1%
ROCEWACC
13%9.7%6.5%3.3%0.0%%5%FY23FY24FY26
13%9.7%6.5%3.3%0.0%%5%FY23FY24FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

NDR INVIT Trust carries ₹2,153 Cr of borrowings against ₹3,787 Cr of equity in FY26, a debt-to-equity of 0.57. Operating profit covers the interest bill 3×. Over 4 years borrowings went from ₹1,055 Cr to ₹2,153 Cr. Capital spending ran ₹4,289 Cr across the last 3 of those years.

FY26: borrowings of ₹2,153 Cr against equity of ₹3,787 Cr — a debt-to-equity of 0.57. Operating profit covers the interest bill 3×. Over 4 years borrowings went from ₹1,055 Cr to ₹2,153 Cr while capital spending ran ₹4,289 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY26: borrowings ₹2,153 Cr at 0.57× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
2.3k8.2×1.7k6.0×1.2k3.8×5811.7×0−0.5×₹ Cr×₹2,1530.57×FY22FY23FY24FY25FY26
2.3k8.2×1.7k6.0×1.2k3.8×5811.7×0−0.5×₹ Cr×₹2,1530.57×FY22FY24FY26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of NDR INVIT Trust moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

NDR INVIT Trust: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Infrastructure Investment Trusts
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1National Highways Infra TrustNHIT 57.6/100Mixed-positive evidence61% evidence ASLEEP 26.5/35 Income 61.6% · PAT 100% 52% evidence 10.8/25 ROA — · ROE 3% · GNPA — 34% evidence 5.0/20 P/BV 1.38× · P/BV÷ROE 0.46 100% evidence 15.3/20 RS sector 2.6% · RS bench 6.6% · 1Y 26.3%1 of 12 weeks ahead 70% evidence
Exact sum: 26.5 + 10.8 + 5 + 15.3 = 57.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Altius Telecom Infrastructure Trust543225 52.4/100Thin evidence · provisional52% evidence FADING 21.5/35 Income 24.2% · PAT 31.8% 52% evidence 13.4/25 ROA — · ROE 8.1% · GNPA — 34% evidence 6.4/20 P/BV 4.57× · P/BV÷ROE 0.57 100% evidence 11.1/20 RS sector — · RS bench 6.5% · 1Y 14.3%3 of 11 weeks ahead 25% evidence
Exact sum: 21.5 + 13.4 + 6.4 + 11.1 = 52.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3IndiGrid Infrastructure TrustINDIGRID 50.1/100Mixed-positive evidence67% evidence ASLEEP 24.3/35 Income 51% · PAT 63.3% 52% evidence 12.7/25 ROA — · ROE 7.2% · GNPA — 34% evidence 3.6/20 P/BV 2.81× · P/BV÷ROE 0.39 100% evidence 9.5/20 RS sector -1.2% · RS bench 3% · 1Y 13.8%0 of 12 weeks ahead 100% evidence
Exact sum: 24.3 + 12.7 + 3.6 + 9.5 = 50.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4IRB InvIT FundIRBINVIT 45.5/100Mixed-negative evidence67% evidence TURNING 18.4/35 Income 56.3% · PAT -13.8% 52% evidence 11.9/25 ROA — · ROE 5.1% · GNPA — 34% evidence 5.8/20 P/BV 1.01× · P/BV÷ROE 0.2 100% evidence 9.4/20 RS sector -2.2% · RS bench 2.2% · 1Y 4.3%0 of 12 weeks ahead 100% evidence
Exact sum: 18.4 + 11.9 + 5.8 + 9.4 = 45.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Powergrid Infrastructure Investment TrustPGINVIT 45.0/100Mixed-negative evidence86% evidence BREAKING OUT 4.8/35 Income -0.6% · PAT -22% 81% evidence 9.5/25 ROA -2.2% · ROE 11.9% · GNPA — 68% evidence 16.5/20 P/BV 1.21× · P/BV÷ROE 0.1 100% evidence 14.2/20 RS sector 0.2% · RS bench 4.6% · 1Y 9.6%0 of 12 weeks ahead 100% evidence
Exact sum: 4.8 + 9.5 + 16.5 + 14.2 = 45 · Decision use: Price leads the evidence: RS versus the benchmark is 4.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6Shrem InvITSHREMINVIT 44.5/100Mixed-negative evidence67% evidence ASLEEP 8.5/35 Income -15.3% · PAT -25.4% 52% evidence 15.5/25 ROA — · ROE 13.3% · GNPA — 34% evidence 16.1/20 P/BV 1.04× · P/BV÷ROE 0.08 100% evidence 4.4/20 RS sector -7.6% · RS bench -2.8% · 1Y -2.4%0 of 11 weeks ahead 100% evidence
Exact sum: 8.5 + 15.5 + 16.1 + 4.4 = 44.5 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
7Cube Highways TrustCUBEINVIT 43.2/100Thin evidence · provisional35% evidence BREAKING OUT 19.5/35 Income 27.8% · PAT 100% 22% evidence 8.2/25 ROA — · ROE 1.4% · GNPA — 34% evidence 3.5/20 P/BV 2.18× · P/BV÷ROE 1.58 70% evidence 12.0/20 RS sector — · RS bench 9.1% · 1Y 23.4%2 of 11 weeks ahead 25% evidence
Exact sum: 19.5 + 8.2 + 3.5 + 12 = 43.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8NDR INVIT Trustthis pageNDRINVIT 42.6/100Thin evidence · provisional46% evidence ASLEEP 15.5/35 Income 26.2% · PAT -17% 52% evidence 10.3/25 ROA — · ROE 2.5% · GNPA — 34% evidence 4.3/20 P/BV 1.49× · P/BV÷ROE 0.6 70% evidence 12.5/20 RS sector — · RS bench 9.3% · 1Y 26.4%1 of 10 weeks ahead 25% evidence
Exact sum: 15.5 + 10.3 + 4.3 + 12.5 = 42.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Sustainable Energy Infra TrustSEITINVIT 42.4/100Thin evidence · provisional41% evidence 14.9/35 Income 2.5% · PAT 6.5% 52% evidence 10.7/25 ROA — · ROE 4% · GNPA — 34% evidence 6.8/20 P/BV 1.39× · P/BV÷ROE 0.35 70% evidence 10.0/20 RS sector — · RS bench — · 1Y 14.8%0 of 2 weeks ahead 0% evidence
Exact sum: 14.9 + 10.7 + 6.8 + 10 = 42.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is NDR INVIT Trust's share price today?

NDR INVIT Trust trades at ₹143, +26.4% over the past year. The company is valued at ₹6,527 Cr. The stock sits at 91% of its 52-week range of ₹107–₹146, +17.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 46 weeks in. — as of 14 August 2026.

What were NDR INVIT Trust's latest quarterly results?

NDR INVIT Trust reported revenue of ₹124 Cr and net profit of ₹36.0 Cr for the Jun 26 quarter. Revenue rose 21.6% and profit fell 5.3% year on year. Earnings per share were ₹0.79. The operating margin was 89.0%, 3.0 pp higher than a year earlier. — as of 14 August 2026.

What is NDR INVIT Trust's revenue?

NDR INVIT Trust reported revenue of ₹124 Cr in the Jun 26 quarter, +21.6% year on year. For the full FY26 fiscal year, revenue was ₹420 Cr (+29.6%). Over the last 4 years revenue compounded at 25.4% a year. — as of 14 August 2026.

What is NDR INVIT Trust's profit?

NDR INVIT Trust earned ₹36.0 Cr of net profit in the Jun 26 quarter, −5.3% year on year. Full-year FY26 profit was ₹113 Cr. The operating margin ran 89.0% in the latest quarter. — as of 14 August 2026.

What is NDR INVIT Trust's market cap?

NDR INVIT Trust's market capitalisation is ₹6,527 Cr at a share price of ₹143. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.

What is NDR INVIT Trust's P/E ratio?

NDR INVIT Trust trades at a P/E of 65.6×, at the most expensive it has been in 2 years, against a long-run median of 36.8×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.

Does NDR INVIT Trust pay a dividend?

Yes — NDR INVIT Trust's dividend payout was 255% of profit in FY26, and it recorded a payout in 3 of its last 5 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.

Is NDR INVIT Trust overvalued?

On its own history, NDR INVIT Trust looks expensive: its P/E of 65.6× sits at the most expensive it has been in 2 years (long-run median 36.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 14 August 2026.

Is NDR INVIT Trust growing?

Yes — NDR INVIT Trust is growing: latest-quarter revenue +21.6% year on year, profit −5.3%, and the margin +3.0 pp at 89.0%. The 4-year compound rates are 25.4% (revenue) and 50.5% (profit). The earnings engine currently reads: improving — as of 14 August 2026.

How is NDR INVIT Trust performing?

NDR INVIT Trust is in a confirmed uptrend, 46 weeks in. Its latest quarter's revenue rose 21.6% and profit fell 5.3% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 14 August 2026.

Is NDR INVIT Trust in an uptrend?

Yes — the price is in a confirmed uptrend (week 46 of stage 2), trading +17.0% versus its 200-day average and at 91% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.

Is NDR INVIT Trust beating the market?

Not lately — on a trailing-13-week view NDR INVIT Trust is currently behind the NIFTY 500 (2 weeks and counting; last ahead the week of 2026-07-21), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 2.5 years the stock moved +40% against the NIFTY 500's +17% — ahead of the index over the full window. — as of 14 August 2026.

Will NDR INVIT Trust's share price go up?

This page publishes no price forecast for NDR INVIT Trust. What it measures instead: the share price is ₹143, the price is in a confirmed uptrend 46 weeks in. Its P/E of 65.6× sits at the 100th percentile of its own 2-year range. — as of 14 August 2026.

Does NDR INVIT Trust have too much debt?

It is moderate — NDR INVIT Trust's debt-to-equity is 0.57, and operating profit covers the interest bill 3×. FY26 borrowings were ₹2,153 Cr against equity of ₹3,787 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.

What is NDR INVIT Trust's capex?

NDR INVIT Trust spent ₹4,289 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹796 Cr, with ₹95.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.

What is NDR INVIT Trust's cash flow?

NDR INVIT Trust generated ₹531 Cr of operating cash flow in FY26 and ₹−265 Cr of free cash flow after ₹796 Cr of capital spending. Reported profit that year was ₹113 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.

Is NDR INVIT Trust's profit real cash?

Yes — over the last 3 fiscal years, 288% of NDR INVIT Trust's reported profit arrived as operating cash. In FY26, operating cash was ₹531 Cr against reported profit of ₹113 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.

Where is NDR INVIT Trust in its business cycle?

NDR INVIT Trust's FY26 operating margin was 87.0%, against a 5-year band of 72.0%–87.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 89.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.

What could break the NDR INVIT Trust story?

The sharpest disagreement: the price moved +26.4% in a year while annual EPS moved −17.6% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.

Is NDR INVIT Trust a stock worth studying right now?

This is not investment advice. The machine read: NDR INVIT Trust's price has outrun its earnings. +26.4% in a year against EPS −17.6% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.

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