Roadstar Infra Investment 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.

Roadstar Infra Investment Trust trades at ₹60.3, in a downtrend and 38 weeks into that stage. That is −15.1% against its own 200-day average. It sits at 34% of a 52-week range of ₹50 to ₹80. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).

Today the stock is in a downtrend — week 38 of stage 4, confirmed. At ₹60.3 it trades −15.1% versus its 200-day average and sits at 34% of its 52-week range (₹50–₹80).

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved −25% while the NIFTY 500 moved +1% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-06-10) — 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.

P/E does not price Roadstar Infra Investment Trust — earnings are negative, so there is no multiple to rank against its own history. The revenue and margin lines below are where a turn, when it comes, would show first. On sales the market values Roadstar Infra Investment Trust at 2.4× its FY26 revenue of ₹1,157 Cr.

With earnings negative, P/E does not price — there is no multiple to rank against its own history. The revenue and margin lines below are where the turn, when it comes, will show first.

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).

Roadstar Infra Investment 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 1 curve, on partial evidence.

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.

4-Factor Sector Score

46.0/100 — rank 6 of 9 in Infra/Real Estate Investment Trust · 18% evidence confidence · provisional, ranked below fully-evidenced peers

Roadstar Infra Investment Trust scores 46.0 out of 100 against the 9 companies it is compared with in Infra/Real Estate Investment Trust, ranking 6. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 17.6 + 8.6 + 9.8 + 10 = 46. 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.

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

Roadstar Infra Investment Trust reported ₹296 Cr of revenue in the Jun 26 quarter, −2.3% year on year. Over 3 years it has compounded at 38.7% a year. The last full year, FY26, came in at ₹1,157 Cr. The last four reported quarters add to ₹1,150 Cr.

FY26 revenue came in at ₹1,157 Cr (+24.4% on the year), capping 3 years at 38.7% compound. The latest quarter (Jun 26) printed ₹296 Cr, −2.3% year on year.

Pace check: the last four quarters averaged +16.5% growth against the decade's 38.7% — 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.

Roadstar Infra Investment Trust's operating margin is 68.0% in the Jun 26 quarter, +51.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 37.0% to 62.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 68.0%, +51.0 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 37.0%–62.0%.

Why the margin moved: operating margin went +51.1 pp year on year while gross margin went +6.8 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.

Roadstar Infra Investment Trust earned ₹34.0 Cr of net profit in the Jun 26 quarter. The full FY26 year was a loss of ₹273 Cr. That is 11.5% of the quarter's revenue. The same quarter a year earlier lost ₹122 Cr. 4 of the last 9 reported quarters were loss-making.

Jun 26 profit was ₹34.0 Cr, null year on year. On the full year, FY26 printed ₹−273 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.

Roadstar Infra Investment Trust's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹849 Cr of operating cash against ₹−273 Cr of profit. After ₹−248 Cr of capital spending, ₹1,097 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹849 Cr against reported profit of ₹−273 Cr, leaving free cash of ₹1,097 Cr after ₹−248 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: the bigger cash user is investment — capital spending ran 4.6× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

Roadstar Infra Investment Trust's cash conversion cycle runs 4 days in FY26, down from 11 days in FY23. Capital spending ran ₹3,816 Cr over the last 3 years. At FY26 sales of ₹1,157 Cr each day of that cycle holds about ₹3.2 Cr, so roughly ₹13.0 Cr sits inside the business at any moment.

FY26: debtors at 4 days, inventory at 0 days — roughly 0.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 4 days, tighter than FY23's 11.

In money terms: at FY26 sales of ₹1,157 Cr, each day of the cycle holds about ₹3.2 Cr — so the 4-day loop keeps roughly ₹13.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹3,816 Cr over the last 3 fiscal years against ₹824 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹472 Cr (FY26) — capacity paid for but not yet earning.

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

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.

Roadstar Infra Investment Trust earns a ROCE of 2% 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 −23.6% net margin on 0.14× asset turns.

FY26 ROCE is 2%.

Why the return is what it is — the wiring (FY26): −23.6% net margin × 0.14× asset turns × 2.14× balance-sheet leverage ≈ −7.1% 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.

Roadstar Infra Investment Trust carries ₹3,306 Cr of borrowings against ₹3,919 Cr of equity in FY26, a debt-to-equity of 0.84. Operating profit covers the interest bill 1×. Over 3 years borrowings went from ₹2,196 Cr to ₹3,306 Cr. Capital spending ran ₹3,816 Cr across the last 3 of those years.

FY26: borrowings of ₹3,306 Cr against equity of ₹3,919 Cr — a debt-to-equity of 0.84. Operating profit covers the interest bill 1×. Over 3 years borrowings went from ₹2,196 Cr to ₹3,306 Cr while capital spending ran ₹3,816 Cr in just the last 3 — part of the build-out is riding on borrowed money.

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 Roadstar Infra Investment 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.

Roadstar Infra Investment 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.

Frequently asked questions