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National Highways Infra Trust (NHIT)₹168.000.00%Road AssetsToll, Annuity, Hybrid-Annuity
In the Jun 2026 quarter (consolidated), National Highways Infra Trust reported sales of ₹1,317 Cr, up 28.1% from Jun 2025, and net profit of ₹234 Cr, up 93.3% year on year. For the year to Mar 2026, sales were ₹4,336 Cr and net profit ₹685 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 237 | 233 | 242 | 566 | 569 | 588 | 649 | 1,027 | 1,006 | 1,108 | 1,149 | 1,317 |
| Expenses | 57.84 | 47.86 | 51.86 | 107 | 109 | 79.75 | 89.74 | 188 | 202 | 178 | 258 | 274 |
| Operating Profit | 178 | 183 | 188 | 456 | 458 | 507 | 558 | 834 | 800 | 927 | 887 | 1,037 |
| OPM % | 75.0% | 79.0% | 78.0% | 81.0% | 81.0% | 86.0% | 86.0% | 81.0% | 80.0% | 84.0% | 77.0% | 79.0% |
| Other Income | 4.99 | 4.99 | 15.99 | 7.99 | 10.99 | 14.97 | 16.99 | 8.99 | 11.99 | 11.99 | 13.99 | 10.99 |
| Interest | 64.21 | 70.18 | 85.22 | 256 | 260 | 273 | 271 | 455 | 455 | 418 | 399 | 482 |
| Depreciation | 57.81 | 61.77 | 70.81 | 194 | 181 | 200 | 218 | 357 | 330 | 366 | 395 | 444 |
| Profit before tax | 60.85 | 55.82 | 47.89 | 13.96 | 27.94 | 48.90 | 85.74 | 30.94 | 26.93 | 155 | 107 | 121 |
| Tax % | −22.0% | −28.0% | −36.0% | −370.0% | −162.0% | 6.0% | −64.0% | −297.0% | −308.0% | −60.0% | −91.0% | −94.0% |
| Exceptional items | 2.99 | 2.99 | 11.97 | 3.99 | 3.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 74.02 | 71.95 | 65.96 | 63.93 | 73.96 | 45.94 | 141 | 121 | 112 | 247 | 205 | 234 |
| EPS (Rs) | 1.03 | 1.00 | 0.49 | 0.50 | 0.58 | 0.36 | 0.74 | 0.64 | 0.59 | 1.29 | 1.07 | 1.20 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 0.00 | 148 | 701 | 978 | 2,422 | 4,336 | 4,579 |
| Expenses | 0.99 | 37.90 | 142 | 211 | 440 | 826 | 912 |
| Operating Profit | −1.01 | 109 | 556 | 763 | 1,976 | 3,499 | 3,652 |
| OPM % | — | 74.0% | 80.0% | 78.0% | 82.0% | 81.0% | 79.8% |
| Other Income | 0.00 | 2.99 | 2.99 | 0.99 | 1.99 | 0.99 | 48.96 |
| Interest | 0.00 | 32.08 | 166 | 281 | 1,058 | 1,730 | 1,754 |
| Depreciation | 0.00 | 10.97 | 175 | 247 | 795 | 1,446 | 1,535 |
| Profit before tax | −0.99 | 69.78 | 216 | 234 | 122 | 319 | 409 |
| Tax % | 0.0% | 2.0% | −17.9% | −25.0% | −166.0% | −114.0% | — |
| Net Profit | −0.99 | 67.92 | 257 | 294 | 325 | 685 | 797 |
| EPS (Rs) | — | 1.16 | 3.55 | 2.23 | 1.69 | 3.55 | 4.15 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 5,982 | 7,395 | 14,664 | 22,938 | 25,950 |
| Reserves | −0.99 | 67.75 | −24.99 | −274 | −995 | −2,196 |
| Borrowings | 0.00 | 1,468 | 2,943 | 11,770 | 21,737 | 25,090 |
| Other Liabilities | 0.99 | 20.90 | 158 | 1,286 | 1,373 | 2,135 |
| Total Liabilities | 0.00 | 7,539 | 10,472 | 27,446 | 45,053 | 50,979 |
| Fixed Assets | 0.00 | 7,431 | 10,096 | 10,976 | 26,189 | 42,960 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 0.00 | 108 | 376 | 16,471 | 18,862 | 8,018 |
| Trade receivables | 0.00 | 5.99 | 3.99 | 3.99 | 15.96 | 52.85 |
| Cash & equivalents | 0.00 | 63.89 | 211 | 468 | 465 | 686 |
| Total Assets | 0.00 | 7,539 | 10,472 | 27,446 | 45,053 | 50,979 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | −7,237 | 623 | 804 | 2,097 | 3,814 |
| Cash from investing activity | −25.05 | −2,912 | −15,832 | −18,348 | −6,607 |
| Cash from financing activity | 7,342 | 2,431 | 15,294 | 16,245 | 2,933 |
| Net cash flow | 63.81 | 147 | 252 | 1.99 | 154 |
| Capex | 0.00 | 2,840 | 15,770 | 18,195 | 6,625 |
| Free cash flow | −7,223 | −2,223 | −14,992 | −16,116 | −2,816 |
| CFO / OP % | −6,642.1% | 113.0% | 107.0% | 107.0% | 109.9% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 15 | 2 | 1 | 2 | 4 |
| Cash conversion cycle | 16 | 3 | 2 | 3 | 5 |
| Working capital days | −43 | −49 | −371 | −174 | −131 |
| ROCE % | 3.0% | 4.0% | 3.0% | 3.0% | 4.0% |
For the Jun 2026 quarter, National Highways Infra Trust reported sales of ₹1,317 Cr, up 28.1% year on year and net profit of ₹234 Cr, up 93.3% year on year. The operating margin was 79.0%.
National Highways Infra Trust's sales for the year to Mar 2026 were ₹4,336 Cr; over the last twelve months they were ₹4,579 Cr.
Net profit for the year to Mar 2026 was ₹685 Cr, and ₹797 Cr over the last twelve months. Earnings per share over the same trailing period were ₹4.15.
National Highways Infra Trust reported borrowings of ₹25,090 Cr at Mar 2026, against cash and equivalents of ₹686 Cr.
Cash from operations was ₹3,814 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹2,816 Cr.