TVS 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.

TVS Infrastructure Trust trades at ₹118, in a confirmed uptrend and 13 weeks into that stage. That is +12.3% against its own 200-day average. It sits at 100% of a 52-week range of ₹101 to ₹118. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 18 straight weeks.

Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹118 it trades +12.3% versus its 200-day average and sits at 100% of its 52-week range (₹101–₹118).

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved +17% while the NIFTY 500 moved +1% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 18 straight weeks — 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.

TVS Infrastructure Trust trades at 45.0× P/E, against too little history to rank. Its long-run median P/E is 68.0×, measured across 0.1 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 45.0× is against too little history to rank, against a long-run median of 68.0× measured over 0.1 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).

TVS 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.

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

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

43.7/100 — rank 7 of 9 in Infra/Real Estate Investment Trust · 23% evidence confidence · provisional, ranked below fully-evidenced peers

TVS Infrastructure Trust scores 43.7 out of 100 against the 9 companies it is compared with in Infra/Real Estate Investment Trust, ranking 7. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 17.5 + 11.8 + 4.4 + 10 = 43.7. 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.

TVS Infrastructure Trust reported ₹63.0 Cr of revenue in the Jun 26 quarter. Over 3 years it has compounded at 3.7% a year. The last full year, FY26, came in at ₹174 Cr. The last four reported quarters add to ₹237 Cr.

FY26 revenue came in at ₹174 Cr (−7.0% on the year), capping 3 years at 3.7% compound. The latest quarter (Jun 26) printed ₹63.0 Cr, null year on year.

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.

TVS Infrastructure Trust's operating margin is 75.0% in the Jun 26 quarter. Across 3 fiscal years the operating margin has ranged 75.0% to 86.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 75.0%, null pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 75.0%–86.0%.

Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

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

TVS Infrastructure Trust earned ₹18.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹32.0 Cr. The 3-year compound rate is 11.6%. That is 28.6% of the quarter's revenue.

Jun 26 profit was ₹18.0 Cr, null year on year. On the full year, FY26 printed ₹32.0 Cr (+100.0%), and the 3-year compound rate is 11.6%.

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.

TVS Infrastructure Trust's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹126 Cr of operating cash against ₹32.0 Cr of profit. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹126 Cr against reported profit of ₹32.0 Cr.

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).

TVS Infrastructure Trust does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Nothing is estimated in place of the missing day-counts, so no cash-cycle chart is drawn.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

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

Returns on capital ROE is the profit the business earns on the money invested in it — the single best test of whether growth creates value or just size.

An annual ROE ladder is not held for TVS Infrastructure Trust.

We do not hold an annual ROE series for TVS Infrastructure Trust. Its filings carry the return lines we would need as blanks rather than numbers, so this page does not estimate one. The revenue, margin, cash-flow and ownership sections are the reads we stand behind.

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.

TVS Infrastructure Trust carries ₹1,042 Cr of borrowings against ₹1,881 Cr of equity in FY26, a debt-to-equity of 0.55. Operating profit covers the interest bill 2×.

FY26: borrowings of ₹1,042 Cr against equity of ₹1,881 Cr — a debt-to-equity of 0.55. Operating profit covers the interest bill 2×.

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 TVS 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.

TVS 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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