Maple Infrastructure Trust

MIT

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Market Cap

₹ 10,022 Cr

P/E

—

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Neutral

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Indian Highway Concessions Trust is an infrastructure investment trust focused on the road sector in India.

Sponsored by Maple Highways Pte Ltd, the trust is supported by CDPQ, a global institutional investor known for its extensive infrastructure investments.

The trust aims to integrate and manage substantial road projects, demonstrating a strong capacity for overseeing complex infrastructure assets.

The trust is actively involved in acquiring new assets, indicating potential growth and expansion in the Indian road sector.

Ambitious plans are underway with a private placement of units aiming to raise Rs 910 Crore, showcasing their intent to bolster financial strength.

Sector

Infrastructure Investment Trusts

Industry

Infra/ Real Estate Investment Trust

Market Cap

10,022 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

48.9

PEG Ratio

—

P/B Ratio

1.6

52W High

145.60

52W Low

144.00

Sales CAGR

8.48%

—

17.24%

10Y

—

Profit CAGR

42.74%

—

10Y

—

ROE

TTM

-2.48%

-5.08%

-5.32%

10Y

—

ROCE

TTM

4.61%

2.46%

2.80%

10Y

—

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VERTIS	107.00	16,157 Cr	26.88	1.75	9.81	8.01	7.21	2.97
MIT	145.60	10,022 Cr	—	1.59	0.00	-2.48	4.61	-0.93
SHREMINVIT	102.00	6,231 Cr	6.48	0.81	0.00	15.17	10.50	6.24
INFRATRUST	88.00	5,840 Cr	66.13	1.43	19.51	9.79	8.04	0.68
INDUSINVIT	118.00	5,228 Cr	11.72	1.06	3.87	9.21	8.72	6.24
IRBINVIT	61.23	4,843 Cr	13.31	0.68	0.00	9.76	4.50	2.36
NDRINVIT	122.00	4,831 Cr	33.33	1.20	5.39	3.80	5.26	2.62

Financial Statements

AI Powered Summary

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025
Sales	199	197	228	242	218
Expenses	72	64	81	80	63
Operating Profit	128	133	147	162	156
OPM %	64.07	67.51	64.45	67.05	71.29
Other Income	1.07	5.48	1.54	0.46	0.63
Interest	103	105	101	103	101
Depreciation	68	69	68	72	72
Profit Before Tax	-42	-35	-21	-13	-17
Tax %	-5.98	-7.10	-11.68	-19.62	-13.63
Net Profit	-45	-38	-24	-15	-19
EPS in Rs	-1.27	-1.07	-0.67	-0.43	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	210	197	211	0.00	319	726	788
Expenses	69	37	68	1.61	160	295	267
Operating Profit	141	160	143	-1.61	159	432	521
OPM %	67.22	81.43	67.72	—	49.77	59.43	66.09
Other Income	2.92	5.30	5.87	0.00	20	47	57
Interest	127	142	140	0.15	210	419	414
Depreciation	30	31	33	0.00	119	261	274
Profit Before Tax	-13	-7.77	-25	-1.76	-149	-201	-111
Tax %	0.00	0.00	0.00	0.00	-2.78	-4.66	-9.05
Net Profit	-13	-7.77	-25	-1.76	-153	-211	-121
EPS in Rs	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	—	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	148	148	148	0.00	3,518	3,518	3,518
Reserves	-54	-62	-87	-3.50	-157	-368	-488
Borrowings	1,176	1,190	1,170	0.30	4,820	4,789	4,692
Other Liabilities	92	134	188	3.32	215	191	205
Total Liabilities	1,362	1,409	1,419	0.12	8,396	8,131	7,927
Fixed Assets	949	918	885	0.00	7,619	7,369	7,097
CWIP	312	334	366	0.00	1.07	0.00	0.00
Investments	18	45	31	0.00	34	0.00	0.00
Other Assets	84	113	136	0.12	741	762	829
Total Assets	1,362	1,409	1,419	0.12	8,396	8,131	7,927

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	151	177	177	-0.26	184	378	528
Cash from Investing Activity	-70	-71	-45	0.00	-6,658	-275	-42
Cash from Financing Activity	-95	-103	-125	0.30	6,858	-436	-509
Net Cash Flow	-14	3.50	5.97	0.04	384	-334	-23

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	18.16%	18.16%	18.16%	18.16%	18.16%	18.10%	17.87%	17.87%	17.87%
Public	6.84%	6.84%	6.84%	6.84%	6.84%	6.90%	7.13%	7.13%	7.13%
Total Shareholders	0	0	0	0	0	0	0	0	0

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 21, 2025	360 one special opportunities...	Bulk	Sell	145.60	41.86 Cr	28,75,000	0.81
Nov 21, 2025	360 one asset management limited	Bulk	Buy	145.60	26.94 Cr	18,50,000	0.52

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Change in Directors/KMP

5 days ago

Resignation of CFO Announced

Maple Infrastructure Trust disclosed the resignation of Mr. Varun Mehta as Chief Financial Officer effective December 12, 2025.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025
Sales	199	197	228	242	218
Expenses	72	64	81	80	63
Operating Profit	128	133	147	162	156
OPM %	64.07	67.51	64.45	67.05	71.29
Other Income	1.07	5.48	1.54	0.46	0.63
Interest	103	105	101	103	101
Depreciation	68	69	68	72	72
Profit Before Tax	-42	-35	-21	-13	-17
Tax %	-5.98	-7.10	-11.68	-19.62	-13.63
Net Profit	-45	-38	-24	-15	-19
EPS in Rs	-1.27	-1.07	-0.67	-0.43	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	210	197	211	0.00	319	726	788
Expenses	69	37	68	1.61	160	295	267
Operating Profit	141	160	143	-1.61	159	432	521
OPM %	67.22	81.43	67.72	—	49.77	59.43	66.09
Other Income	2.92	5.30	5.87	0.00	20	47	57
Interest	127	142	140	0.15	210	419	414
Depreciation	30	31	33	0.00	119	261	274
Profit Before Tax	-13	-7.77	-25	-1.76	-149	-201	-111
Tax %	0.00	0.00	0.00	0.00	-2.78	-4.66	-9.05
Net Profit	-13	-7.77	-25	-1.76	-153	-211	-121
EPS in Rs	—	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	—	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	148	148	148	0.00	3,518	3,518	3,518
Reserves	-54	-62	-87	-3.50	-157	-368	-488
Borrowings	1,176	1,190	1,170	0.30	4,820	4,789	4,692
Other Liabilities	92	134	188	3.32	215	191	205
Total Liabilities	1,362	1,409	1,419	0.12	8,396	8,131	7,927
Fixed Assets	949	918	885	0.00	7,619	7,369	7,097
CWIP	312	334	366	0.00	1.07	0.00	0.00
Investments	18	45	31	0.00	34	0.00	0.00
Other Assets	84	113	136	0.12	741	762	829
Total Assets	1,362	1,409	1,419	0.12	8,396	8,131	7,927

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	151	177	177	-0.26	184	378	528
Cash from Investing Activity	-70	-71	-45	0.00	-6,658	-275	-42
Cash from Financing Activity	-95	-103	-125	0.30	6,858	-436	-509
Net Cash Flow	-14	3.50	5.97	0.04	384	-334	-23

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VERTIS	107.00	16,157 Cr	26.88	1.75	9.81	8.01	7.21	2.97
MIT	145.60	10,022 Cr	—	1.59	0.00	-2.48	4.61	-0.93
SHREMINVIT	102.00	6,231 Cr	6.48	0.81	0.00	15.17	10.50	6.24
INFRATRUST	88.00	5,840 Cr	66.13	1.43	19.51	9.79	8.04	0.68
INDUSINVIT	118.00	5,228 Cr	11.72	1.06	3.87	9.21	8.72	6.24
IRBINVIT	61.23	4,843 Cr	13.31	0.68	0.00	9.76	4.50	2.36
NDRINVIT	122.00	4,831 Cr	33.33	1.20	5.39	3.80	5.26	2.62

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overview

Detailed Summary

Indian Highway Concessions Trust is an infrastructure investment trust focused on the road sector in India.

Sponsored by Maple Highways Pte Ltd, the trust is supported by CDPQ, a global institutional investor known for its extensive infrastructure investments.

The trust aims to integrate and manage substantial road projects, demonstrating a strong capacity for overseeing complex infrastructure assets.

The trust is actively involved in acquiring new assets, indicating potential growth and expansion in the Indian road sector.

Ambitious plans are underway with a private placement of units aiming to raise Rs 910 Crore, showcasing their intent to bolster financial strength.

Sector

Infrastructure Investment Trusts

Industry

Infra/ Real Estate Investment Trust

Market Cap

10,022 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

48.9

PEG Ratio

—

P/B Ratio

1.6

52W High

145.60

52W Low

144.00

Sales CAGR

8.48%

—

17.24%

10Y

—

Profit CAGR

42.74%

—

10Y

—

ROE

TTM

-2.48%

-5.08%

-5.32%

10Y

—

ROCE

TTM

4.61%

2.46%

2.80%

10Y

—