India Grid Trust (IndiGrid), established in 2016, is India’s first listed infrastructure investment trust (InvIT) in the power sector, sponsored by KKR and Sterlite Power. IndiGrid operates and owns a robust portfolio of power transmission and renewable energy assets across India. Its portfolio includes around 7,790 circuit kilometers of transmission lines, 14,550 MVA of transformation capacity across 42 transmission lines and 12 substations, along with 100 MW of solar power assets. The trust primarily focuses on acquiring operational transmission SPVs backed by long-term 35-year Transmission Service Agreements (TSAs). As an InvIT, IndiGrid ensures stable returns to investors by distributing at least 90% of its net distributable cash flows semi-annually.
IndiGrid has demonstrated strong financial performance and continues to expand its asset base while maintaining a steady dividend payout ratio. The units of the trust are actively traded on the BSE and NSE, providing liquidity to investors. Additionally, IndiGrid integrates environmental, social, and governance (ESG) practices, aligning with its commitment to sustainability. The trust plays a vital role in India’s power infrastructure development and remains focused on enhancing its operational efficiency.
Latest News on IndiGrid
India Grid Trust (IndiGrid) recently secured approval from its unitholders to raise up to ₹695 crore through a preferential issue during an extraordinary meeting. This fundraising initiative aims to support IndiGrid’s expansion plans, particularly in acquiring new power transmission and renewable energy assets, strengthening its position in the infrastructure sector. The funds will be used to enhance its asset portfolio while continuing to deliver strong market performance. IndiGrid maintains a steady dividend payout, and its units are actively traded on the BSE and NSE, ensuring liquidity for investors.
Below are the trading platforms that you can use to purchase Indigrid shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| October 2024 | 158.55 | 137.87 |
| November 2024 | 164.90 | 143.39 |
| December 2024 | 169.55 | 144.82 |
As we move into October 2024, IndiGrid is expected to see a maximum price of ₹158.55 and a minimum price of ₹137.87. As we approach November 2024, the maximum price is projected to rise to ₹164.90, with the minimum at ₹143.39. Finally, as we step into December 2024, IndiGrid’s prices are anticipated to reach a maximum of ₹169.55 and a minimum of ₹144.82.
| When | Maximum Price | Minimum Price |
| January 2025 | 168.21 | 129.39 |
| February 2025 | 169.91 | 130.70 |
| March 2025 | 173.48 | 133.44 |
| April 2025 | 171.76 | 132.12 |
| May 2025 | 166.76 | 128.27 |
| June 2025 | 174.26 | 134.05 |
| July 2025 | 170.84 | 131.42 |
| August 2025 | 176.13 | 135.48 |
| September 2025 | 178.24 | 137.11 |
| October 2025 | 182.88 | 140.67 |
| November 2025 | 187.45 | 144.19 |
| December 2025 | 195.88 | 150.68 |
As we step into January 2025, IndiGrid’s price may reach a maximum of ₹168.21 and a minimum of ₹129.39. February 2025 could see a range from ₹169.91 to ₹130.70, while March 2025 may peak at ₹173.48 and drop to ₹133.44. By April 2025, prices might fluctuate between ₹171.76 and ₹132.12, and May could see ₹166.76 to ₹128.27. June may reach ₹174.26, with a low of ₹134.05, while July could range from ₹170.84 to ₹131.42. By August, prices may touch ₹176.13 and September ₹178.24, with lows of ₹135.48 and ₹137.11, respectively. October might see ₹182.88 to ₹140.67, November ₹187.45 to ₹144.19, and as we step into December 2025, prices could rise to ₹195.88 with a minimum of ₹150.68.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹230.91 | ₹151.32 |
| 2027 | ₹278.75 | ₹179.40 |
| 2028 | ₹339.83 | ₹218.71 |
| 2029 | ₹414.31 | ₹266.64 |
| 2030 | ₹505.10 | ₹325.07 |
In 2026, IndiGrid’s price is expected to reach a maximum of ₹230.91 and a minimum of ₹151.32. Moving into 2027, prices could rise to a maximum of ₹278.75 and a minimum of ₹179.40. By 2028, the maximum price might touch ₹339.83, with a minimum of ₹218.71. In 2029, the price could peak at ₹414.31 and see a low of ₹266.64. As we step into 2030, IndiGrid’s maximum price may soar to ₹505.10, while the minimum could be around ₹325.07.
Financial Condition of IndiGrid: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,243 | 1,677 | 2,222 | 2,332 | 2,864 | 3,178 |
| Expenses + | 53 | 252 | 209 | 231 | 425 | 438 |
| Operating Profit | 1,190 | 1,425 | 2,013 | 2,101 | 2,439 | 2,740 |
| OPM % | 96% | 85% | 91% | 90% | 85% | 86% |
| Other Income + | 36 | 35 | 52 | 82 | 123 | 28 |
| Interest | 415 | 687 | 1,050 | 1,011 | 1,308 | 1,401 |
| Depreciation | 310 | 430 | 665 | 704 | 939 | 1,021 |
| Profit before tax | 500 | 342 | 349 | 469 | 315 | 346 |
| Tax % | -1% | 2% | 2% | 1% | 6% | |
| Net Profit + | 506 | 334 | 343 | 466 | 296 | 326 |
| EPS in Rs | 7.22 | 4.77 | 4.98 | 6.51 | 3.64 | 4.05 |
| Dividend Payout % | 126% | 194% | 241% | 48% | 95% |
India Grid Trust (IndiGrid) has showcased a solid financial performance, reflecting its ability to generate consistent revenues and maintain a high level of operational efficiency. Over the past five years, sales have seen a significant upward trend, rising from ₹1,243 crore in March 2020 to ₹2,864 crore in March 2024. The Trust has continued its momentum with sales in the trailing twelve months (TTM) reaching ₹3,178 crore, underscoring its growing presence in the power transmission and renewable energy sector. This consistent growth in revenue is a clear indicator of IndiGrid’s successful execution of its business strategy and expansion of its asset base.
Operating profit has also remained robust throughout this period, with IndiGrid maintaining a high Operating Profit Margin (OPM). The OPM has fluctuated slightly but has consistently stayed in the range of 85% to 96%, highlighting the Trust’s efficiency in managing its operations and controlling costs. As of March 2024, the operating profit stood at ₹2,439 crore, with an OPM of 85%, reflecting its ability to convert revenues into strong profits.
However, despite strong operational performance, IndiGrid’s net profit has experienced some variability. This is largely due to the increasing interest and depreciation expenses, which have risen as the Trust expanded its asset base. Interest expenses grew from ₹415 crore in March 2020 to ₹1,308 crore in March 2024, while depreciation costs rose from ₹310 crore to ₹939 crore over the same period. These higher costs have placed pressure on the bottom line, resulting in a decline in net profit from ₹466 crore in March 2023 to ₹296 crore in March 2024.
The impact of these expenses is also reflected in IndiGrid’s Earnings Per Share (EPS), which fell from ₹6.51 in March 2023 to ₹3.64 in March 2024. Despite this, the Trust has maintained its commitment to returning value to its unitholders through dividends. IndiGrid’s dividend payout ratio has remained high, though it has seen some variation. In March 2020, the payout ratio was 126%, rising to 241% in March 2022 before dropping to 95% in March 2024. This reflects IndiGrid’s ability to provide consistent returns to its investors, despite the fluctuations in net profit.
FAQs
What is IndiGrid’s current market capitalization?
IndiGrid’s current market capitalization stands at ₹11,337 Crores as of September 30, 2024.
IndiGrid is currently trading at ₹145 as of September 30, 2024.
In 2025, IndiGrid’s share price is expected to increase gradually, with a minimum of ₹129.39 in January and a maximum of ₹195.88 in December.
Looking ahead to 2030, IndiGrid’s share price is estimated to reach a minimum of ₹325.07 and a maximum of ₹505.10.
What is the current Price-to-Earnings (P/E) ratio for IndiGrid?
The current P/E ratio for IndiGrid is 36.0.
IndiGrid shares can be purchased through various trading platforms, including Zerodha, Upstox, Groww, AngelOne, and ICICIDirect.
Conclusion: IndiGrid’s Resilient Growth and Future Potential in India’s Power Sector
India Grid Trust (IndiGrid) has demonstrated remarkable financial stability and growth since its inception in 2016. With an impressive portfolio of transmission and renewable energy assets, IndiGrid has seen significant increases in sales, operating profits, and asset base. From ₹1,243 crore in March 2020 to ₹2,864 crore in March 2024, the sales growth reflects IndiGrid’s strong market presence and expansion strategy. The operating profit, consistently robust, reached ₹2,439 crore in March 2024 with an OPM of 85%, showcasing its efficient management and cost control.
Despite rising interest and depreciation costs, IndiGrid has managed to provide consistent returns to its investors, maintaining a strong dividend payout ratio, which hit 95% in March 2024. The Trust’s focus on ESG practices and commitment to long-term value creation further strengthens its position as a leading player in India’s power infrastructure sector. With a market capitalization of ₹11,337 crore and steady trading at ₹145, IndiGrid remains a resilient investment, poised for continued success.
What did we learn?
- 1 Latest News on IndiGrid
- 2 How to Purchase IndiGrid Shares?
- 3 IndiGrid Share Price Target: 2024 to 2030
- 4 Financial Condition of IndiGrid: Last 5 Years
- 5 FAQs
- 5.1 What is IndiGrid’s current market capitalization?
- 5.2 What is the current share price of IndiGrid?
- 5.3 What is the share price target for IndiGrid in 2025?
- 5.4 What is the share price target for IndiGrid in 2030?
- 5.5 What is the current Price-to-Earnings (P/E) ratio for IndiGrid?
- 5.6 Where can one purchase IndiGrid shares?
- 6 Conclusion: IndiGrid’s Resilient Growth and Future Potential in India’s Power Sector
