IRB InvIT Fund share price today

IRB InvIT Fund's share price was ₹59.69 at the close on 4 November 2026. It has been rising for 12 weeks. That is 4.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹58 and ₹65, and at that close it sat 24% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today IRB InvIT Fund is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

Over the last 9.5 years the share price moved −41% while the NIFTY 500 moved +170%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Lowest operating margin in 13 quarters

   Operating margin was 70% in the September 2026 quarter, against 84% a year earlier.

   Why: The margin looks lower because the quarter included large extra work and utility shifting asked for by the road authority and billed at cost. That added both revenue and cost but almost no profit.

   Next results: check whether operating costs drop back toward the Rs 38 crore underlying level after this extra work ends.

   From the earnings call on 29 Oct 2026.

3. Revenue up on a year earlier for 6 quarters in a row

   In the September 2026 quarter revenue was ₹514 crore, +85.6% on a year earlier.

   Why: Revenue rose because the trust added new road projects, so it collected tolls from more roads.

   Next results: check whether the newly added roads bring in the extra toll money management expects.

   From the earnings call on 29 Oct 2026.

The last was a dividend whose amount we could not read, ex-date 3 November 2026.

IRB InvIT Fund dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

We do not print a yield for IRB InvIT Fund: its payouts are trust distributions (interest and capital paid back), not company dividends.

Yes. IRB InvIT Fund paid out 126% of its profit as dividends in FY26, and it paid a dividend in 6 of its last 9 reported years.

From the NSE corporate-actions record, read 5 November 2026.

For July to September 2026 (the quarter ended 30 September 2026), IRB InvIT Fund reported revenue of ₹514 crore, up 85.6% from ₹277 crore a year earlier, and a profit of ₹26.0 crore, down 68.7% from ₹83.0 crore.

IRB InvIT Fund results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

IRB InvIT Fund's management discussed these results on a call held on 29 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

IRB InvIT Fund closed at ₹59.69 on 4 November 2026, down 2.1% from ₹61.00 a year earlier (7 November 2025) and up 5.0% over five years. Its highest weekly close since May 2017 was ₹100.94 on 26 May 2017.

IRB InvIT Fund share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

501 weekly closes from 19 May 2017 to 4 November 2026.

4 Nov 2026: IRB InvIT Fund closed at ₹59.69, down 3.5% on the week and down 6.4% on the month. 3 Nov 2026: ex-date for a distribution dividend.

Earlier

• 29 Oct 2026: IRB InvIT Fund held its results call for July to September 2026. Management guided: H2FY23 DPU ₹3.45 per unit including January to March 2023 ₹1.65, ₹6.7 annualized after rate hikes.
• Results for July to September 2026: Revenue up 85.6% and profit down 68.7% on a year earlier.
• 28 Jul 2026: ex-date for a distribution dividend.
• 20 May 2026: ex-date for a distribution dividend.
• 16 Feb 2026: ex-date for a distribution dividend.

On the call for July to September 2026, held on 29 October 2026, IRB InvIT Fund's management guided: H2FY23 DPU ₹3.45 per unit including January to March 2023 ₹1.65, ₹6.7 annualized after rate hikes.

“Taking these factors together, we do not currently expect the rate environment to have a material impact on the financial position of the Trust.”Rushabh Gandhi, on the call for July to September 2026

What management guided

• Tariff growth 7-8% next year from 40% WPI pass-through plus 3% fixed.
• Kaithal traffic normalization over coming quarters as geopolitical drag and monsoon seasonality fade.
• Similar-size asset additions expected next year after 6-8 month digestion.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 29 October 2026.

When IRB InvIT Fund reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: December WPI print for tariff reset - check whether elevated trend sustains into next-year toll revision.

IRB InvIT Fund is on one of our India lists: Momentum stocks.

IRB InvIT Fund earned ₹26.0 Cr of net profit in the Sep 2026 quarter, −68.7% on the same quarter a year earlier. Full-year FY26 profit was ₹339 Cr. That is 5.1% of the quarter's revenue. The same quarter a year earlier earned ₹83.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹339 Cr (−4.8% on the year before).

Why profit moved: revenue changed +85.6% on a year earlier and the margin moved −14.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed −30.2% and revenue +76.4%. Profit is growing slower than sales: rising costs are taking part of the growth.

IRB InvIT Fund reported ₹514 Cr of revenue in the Sep 2026 quarter, +85.6% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. The last full year, FY26, came in at ₹1,485 Cr. The last four reported quarters add to ₹1,984 Cr.

Revenue is everything the company billed its customers in the period.

A growth rate over several years is not shown, because there are too few years of figures to work one out properly.

FY26 revenue was ₹1,485 Cr, +37.0% on the year before.

Is growth speeding up? Revenue over the last 12 months grew +76.4%, against +35.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −28.8%, against −13.8% a year (rolling over).

IRB InvIT Fund's operating margin was 70.0% in the Sep 2026 quarter, 14.0 percentage points lower than the same quarter a year ago. Across 9 years it has been between 56.0% and 83.0%. The latest quarter is within that range.

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

Why the margin moved: operating margin changed −13.8 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 302% of IRB InvIT Fund's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,275 Cr of operating cash against ₹339 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹9,065 Cr of spending on assets, free cash was −₹7,790 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 302% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 10.5× depreciation over three years. The next section checks what that spending is building.

IRB InvIT Fund's cash cycle, the days between paying suppliers and getting paid by customers, was 0 days in FY26, down from 0 days in FY21. It spent ₹9,060 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,485 Cr, each day of that cycle ties up about ₹4.1 Cr, so roughly ₹0.0 Cr is tied up in the business at any time.

Spending on assets: ₹9,060 Cr over the last 3 years, against ₹864 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

IRB InvIT Fund's P/E is 23.1×, near the high end of its own history: higher than 93% of past readings. Its usual P/E (the middle reading) is 12.8×, over 8.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹2.00.