Intelligent Supply Chain Infrastructure Trust

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.

Intelligent Supply Chain Infrastructure Trust trades at ₹128, between stages. That is +24.0% against its own 200-day average. It sits at 100% of a 52-week range of ₹102 to ₹128. On relative strength it has no relative-strength read yet.

Today the stock is between stages. At ₹128 it trades +24.0% versus its 200-day average and sits at 100% of its 52-week range (₹102–₹128).

Against the market, two honest reads. Cumulative: over the last 2.8 years the stock moved +25% while the NIFTY 500 moved +41% — behind the index over the full window. Recent form: no trailing-13-week read yet — 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.

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.

Intelligent Supply Chain Infrastructure Trust trades at 1,000.0× P/E, against too little history to rank. Its long-run median P/E is 1,000.0×, measured across 0.6 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 1,000.0× is against too little history to rank, against a long-run median of 1,000.0× measured over 0.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

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

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).

Intelligent Supply Chain Infrastructure 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 5 quarters across 0 curves, on partial evidence.

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

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.

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

Intelligent Supply Chain Infrastructure Trust reported ₹345 Cr of revenue in the Jun 26 quarter, +0.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 2 years it has compounded at 49.6% a year. The last full year, FY26, came in at ₹1,380 Cr. The last four reported quarters add to ₹1,380 Cr.

FY26 revenue came in at ₹1,380 Cr (+3.1% on the year), capping 2 years at 49.6% compound. The latest quarter (Jun 26) printed ₹345 Cr, +0.1% year on year — the 5th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +2.3% growth against the decade's 49.6% — the current year is running slower than its own long-run rate.

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.

Intelligent Supply Chain Infrastructure Trust's operating margin is 62.6% in the Jun 26 quarter, +22.1 percentage points against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 55.0% to 67.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 62.6%, +22.1 pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 55.0%–67.0%.

Why the margin moved: operating margin went +22.1 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.

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

Intelligent Supply Chain Infrastructure Trust earned ₹2.5 Cr of net profit in the Jun 26 quarter. The full FY26 year was a loss of ₹118 Cr. That is 0.7% of the quarter's revenue. The same quarter a year earlier lost ₹78.4 Cr. 7 of the last 9 reported quarters were loss-making.

Jun 26 profit was ₹2.5 Cr, null year on year. On the full year, FY26 printed ₹−118 Cr (null).

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.

Intelligent Supply Chain Infrastructure Trust's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹925 Cr of operating cash against ₹−118 Cr of profit. After ₹−64.0 Cr of capital spending, ₹989 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹925 Cr against reported profit of ₹−118 Cr, leaving free cash of ₹989 Cr after ₹−64.0 Cr of capital spending.

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

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

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).

Intelligent Supply Chain Infrastructure Trust's cash conversion cycle runs 159 days in FY26, up from 3 days in FY24. Capital spending ran ₹−13.0 Cr over the last 2 years. At FY26 sales of ₹1,380 Cr each day of that cycle holds about ₹3.8 Cr, so roughly ₹601 Cr sits inside the business at any moment.

FY26: debtors at 159 days (an asset-light business — no inventory to speak of) — for a full cycle of 159 days, looser than FY24's 3.

In money terms: at FY26 sales of ₹1,380 Cr, each day of the cycle holds about ₹3.8 Cr — so the 159-day loop keeps roughly ₹601 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−13.0 Cr over the last 2 fiscal years against ₹1,175 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

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.

Intelligent Supply Chain Infrastructure Trust earns a ROCE of 4% in FY26. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is −8.6% net margin on 0.28× asset turns.

FY26 ROCE is 4%.

Why the return is what it is — the wiring (FY26): −8.6% net margin × 0.28× asset turns × 2.40× balance-sheet leverage ≈ −5.8% on equity. Margin does its share; leverage is a meaningful part of the equation.

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.

Intelligent Supply Chain Infrastructure Trust carries ₹2,277 Cr of borrowings against ₹2,026 Cr of equity in FY26, a debt-to-equity of 1.12. Operating profit covers the interest bill 3×. Over 2 years borrowings went from ₹2,808 Cr to ₹2,277 Cr. Capital spending ran ₹−13.0 Cr across the last 2 of those years.

FY26: borrowings of ₹2,277 Cr against equity of ₹2,026 Cr — a debt-to-equity of 1.12. Operating profit covers the interest bill 3×. Over 2 years borrowings went from ₹2,808 Cr to ₹2,277 Cr while capital spending ran ₹−13.0 Cr in just the last 2 — the build-out is being paid for out of cash, not debt.

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 Intelligent Supply Chain Infrastructure 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 — .

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.

Intelligent Supply Chain Infrastructure 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.

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