---
title: "Vertis Infrastructure Trust (VERTIS) — Share Price, Financials & Analysis"
symbol: "VERTIS"
company: "Vertis Infrastructure Trust"
canonical: "https://tapetide.com/stocks/VERTIS"
isin: "INE0KXY23015"
nse_symbol: "VERTIS"
sector: "Services"
industry: "Transport Infrastructure"
market_cap_cr: 17515.81
generated_at: "2026-09-13T18:15:48.049Z"
---

# Vertis Infrastructure Trust (VERTIS)

Canonical page: https://tapetide.com/stocks/VERTIS

## Company

- **NSE Symbol:** VERTIS
- **ISIN:** INE0KXY23015
- **Sector:** Services
- **Industry:** Transport Infrastructure
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2022-08-25
- **Face Value:** ₹100
- **F&O Eligible:** No

## About

Vertis Infrastructure Trust (VIT) is an InvIT of road sector assets sponsored by Galaxy, which is invested in by funds, vehicles and/or entities managed and/or advised by KKR, with VFA as its investment manager, VPM, a 100% subsidiary of VFA, acting as project manager and Axis Trustee Services Ltd acting as trustee.[1]

## Latest Price

- **Price:** ₹116
- **Change:** 0 (0%)
- **Open:** ₹116
- **Day High:** ₹116
- **Day Low:** ₹115.99
- **Previous Close:** ₹116
- **Volume:** 400000
- **As Of:** 2026-09-11T09:02:36+00:00

## Key Fundamentals

Observed at 2026-09-11T04:30:41.107500Z.

- **Market Cap:** ₹17515.81 Cr
- **Classification:** Smallcap
- **P/E (reported):** 20.1
- **P/E (TTM):** 21.05
- **EPS (TTM):** ₹5.51
- **Book Value:** ₹68.32
- **Price to Book:** 1.7
- **Dividend Yield:** 2.8%
- **ROE:** 9.74%
- **ROCE:** 9.44%
- **Debt to Equity:** 1.8

## Tapetide Score

- **Score:** 63 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 94.2 (of 4473 scored stocks)
- **Confidence:** 95%
- **Data coverage:** 90%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 18.72 | 9% |
| growth | 89.57 | 9% |
| momentum | 74.18 | 12% |
| ownership | 50.94 | 24% |
| quality | 84.05 | 22% |
| valuation | 60.89 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is expected to give good quarter

### Weaknesses

- Stock is trading at 2.73 times its book value
- Tax rate seems low
- Company has a low return on equity of 9.99% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 77% | 182% |
| revenue growth | 62% | 83% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | 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 | 170 | 294 | 1302 | 524 | 512 | 501 | 701 | 830 | 1002 | 1016 | 1055 | 1053 |
| Expenses | 47 | 88 | 959 | 149 | 118 | 132 | 245 | 187 | 250 | 369 | 298 | 197 |
| Operating Profit | 123 | 207 | 343 | 374 | 393 | 369 | 456 | 644 | 752 | 647 | 757 | 856 |
| OPM % | 72 | 70 | 26 | 71 | 77 | 74 | 65 | 78 | 75 | 64 | 72 | 81 |
| Other Income | 1 | 1 | -359 | 14 | 12 | 26 | 20 | 17 | -15 | -5 | 70 | 11 |
| Interest | 44 | 77 | 142 | 107 | 82 | 92 | 104 | 223 | 272 | 223 | 213 | 229 |
| Depreciation | 34 | 67 | 149 | 155 | 150 | 158 | 196 | 292 | 293 | 294 | 317 | 278 |
| Profit before tax | 45 | 63 | -307 | 126 | 173 | 145 | 176 | 146 | 172 | 125 | 297 | 361 |
| Tax % | 2 | 36 | -1 | 21 | 10 | 20 | 2 | 11 | -10 | 11 | 22 | 5 |
| Net Profit | 44 | 41 | -303 | 99 | 155 | 117 | 173 | 130 | 188 | 111 | 230 | 342 |
| EPS in Rs | 0.91 | 0.84 | -4.16 | 1 | 1.71 | 1.2 | 1.01 | 0.71 | 1.35 | 0.66 | 1.47 | 2.03 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 4m | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 190 | 627 | 2035 | 2127 | 3819 | 4126 |
| Expenses | 41 | 211 | 1184 | 615 | 1041 | 1114 |
| Operating Profit | 149 | 416 | 851 | 1512 | 2778 | 3012 |
| OPM % | 78 | 66 | 42 | 71 | 73 | 73 |
| Other Income | 7 | 16 | -332 | 153 | 89 | 62 |
| Interest | 78 | 219 | 324 | 385 | 932 | 938 |
| Depreciation | 29 | 117 | 322 | 661 | 1196 | 1182 |
| Profit before tax | 49 | 96 | -127 | 620 | 739 | 954 |
| Tax % | 8 | 65 | 21 | 12 | 11 | — |
| Net Profit | 45 | 34 | -153 | 545 | 660 | 872 |
| EPS in Rs | — | 0.82 | -2.15 | 3.1 | 4.18 | 5.51 |
| Dividend Payout % | 0 | 1969 | -707 | 338 | 244 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0 | 4155 | 6859 | 12861 | 12861 |
| Reserves | 39 | -3717 | -4262 | -5322 | -6444 |
| Borrowings | 2327 | 1477 | 4126 | 4933 | 11574 |
| Other Liabilities | 374 | 417 | 2299 | 1815 | 1957 |
| Total Liabilities | 2739 | 2332 | 9023 | 14286 | 19948 |
| Fixed Assets | 2038 | 1945 | 5833 | 11992 | 11446 |
| CWIP | 0 | 0 | 5 | 0 | 0 |
| Investments | 215 | 65 | 918 | 102 | 186 |
| Other Assets | 486 | 321 | 2266 | 2192 | 8315 |
| Total Assets | 2739 | 2332 | 9023 | 14286 | 19948 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 170 | 503 | 1247 | 1237 | 3302 |
| Cash from Investing Activity | -48 | -119 | -3519 | -5384 | -279 |
| Cash from Financing Activity | -86 | -386 | 2364 | 4471 | -2707 |
| Net Cash Flow | 37 | -2 | 92 | 324 | 315 |
| Free Cash Flow | 165 | 503 | 1231 | -5525 | 3265 |
| CFO/OP | 120 | 127 | 156 | 91 | 129 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 7 | 0 | 6 | 3 | 8 |
| Cash Conversion Cycle | 7 | 0 | 6 | 3 | 8 |
| Working Capital Days | -431 | -36 | -164 | -137 | -32 |
| ROCE % | — | 14 | 12 | 10 | 11 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 89.99% | 89.99% | 77.66% | 74.24% | 74.63% | 74.63% | 71.66% | 71.66% | 57.76% | 57.76% | 57.76% | 57.76% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 3.36% | 3.66% | 3.66% | 3.79% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 1.54% | 1.54% | 1.92% | 1.23% | 1.14% | 1.14% | 0.61% | 0.61% | 4.04% | 4.3% | 4.34% | 4.48% |
| Others | 8.47% | 8.47% | 20.42% | 24.52% | 24.23% | 24.23% | 27.73% | 27.73% | 34.85% | 34.29% | 34.25% | 33.97% |
| No. of Shareholders | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 10 / 6 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 115.84 | Buy |
| EMA (10) | 115.96 | Buy |
| SMA (20) | 115.91 | Buy |
| EMA (20) | 115.32 | Buy |
| SMA (50) | 112.46 | Buy |
| EMA (50) | 113.21 | Buy |
| SMA (100) | 109.84 | Buy |
| EMA (100) | 111.62 | Buy |
| SMA (200) | 110.84 | Buy |
| EMA (200) | 109.71 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 56.98 | Neutral |
| MACD (12,26,9) | 1.01 | Sell |
| Stochastic (14,3,3) | 80.12 | Sell |
| ADX (14) | 20.34 | Neutral |
| Williams %R (14) | -21.43 | Neutral |
| ATR (14) | 1.6 | Neutral |
| ROC (12) | 0 | Neutral |
| Stoch RSI (14) | 23.91 | Neutral |
| UO (7,14,28) | 71.13 | Sell |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Record date March 16, 2026 for NCD interest/partial redemption payable March 31, 2026 (Series II–V). | [Updates 9 March 2026 - Record date March 16, 2026 for NCD interest/partial redemption payable March 31, 2026 (Series II–V).](https://nsearchives.nseindia.com/corporate/HIGHWAYS_09032026185952_Intimation_to_SE_Record_Date_March_2026.pdf) |
| 6 February 2026 - Shillong Expressway concession expired on Feb 6, 2026; Trust initiating handover to NHAI. | [Updates 6 February 2026 - Shillong Expressway concession expired on Feb 6, 2026; Trust initiating handover to NHAI.](https://nsearchives.nseindia.com/corporate/HIGHWAYS_06022026161723_Vertis_End_of_Concession_Agreement_-_SEPL.pdf) |
| 6 February 2026 - Earnings call Feb 12, 2026 for Q3 FY26; Investor presentation; Distribution INR 3.00/unit (INR 4,530mn). | [Updates 6 February 2026 - Earnings call Feb 12, 2026 for Q3 FY26; Investor presentation; Distribution INR 3.00/unit (INR 4,530mn).](https://nsearchives.nseindia.com/corporate/HIGHWAYS_06022026200216_Schedule_InvestorCall.pdf) |
| 19 February 2026 - Q3 FY2026 call: Rs.3/unit distribution; traffic +10.3%; AUM Rs.26,500 crore; net debt/AUM ~41%. | [Updates 19 February 2026 - Q3 FY2026 call: Rs.3/unit distribution; traffic +10.3%; AUM Rs.26,500 crore; net debt/AUM ~41%.](https://nsearchives.nseindia.com/corporate/HIGHWAYS_19022026193602_Transcript_Investor_Call.pdf) |
| 13 February 2026 - Audio recording of Feb 12, 2026 earnings call posted on Vertis website. | [Updates 13 February 2026 - Audio recording of Feb 12, 2026 earnings call posted on Vertis website.](https://nsearchives.nseindia.com/corporate/HIGHWAYS_13022026223120_Audio_InvestorCall_12-02-2026.pdf) |
| 11 Sep - BETPL concession expired on September 10, 2026; Vertis begins handing over the Silk Board–Electronic City project to NHAI. | [Updates 11 Sep - BETPL concession expired on September 10, 2026; Vertis begins handing over the Silk Board–Electronic City project to NHAI.](https://nsearchives.nseindia.com/corporate/HIGHWAYS_11092026155708_Intimation_BETPL.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_10092026125445_Intimation_allotment_of_NCD.pdf) |
| 2026-08-29 | [Disclosure of details of any credit rating obtained by the InvIT and any change in such rating](https://nsearchives.nseindia.com/corporate/HIGHWAYS_29082026160233_Intimation_CreditRating_F.pdf) |
| 2026-08-28 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_28082026161523_Redemption.pdf) |
| 2026-08-27 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_27082026140326_Allotment_CPs_27-8-26.pdf) |
| 2026-08-27 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_27082026163848_Redemption_of_CP_27-08-26.pdf) |
| 2026-08-22 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_22082026155033_EarningsTranscript.pdf) |
| 2026-08-22 | [Disclosure of details of any credit rating obtained by the InvIT and any change in such rating](https://nsearchives.nseindia.com/corporate/HIGHWAYS_22082026153226_Intimation_CreditRating.pdf) |
| 2026-08-17 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_17082026155631_Vertis_Outcome_FSC.pdf) |
| 2026-08-13 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_13082026111317_Vertis_Investor_Presentation_Q1.pdf) |
| 2026-08-12 | [Updates](https://nsearchives.nseindia.com/corporate/HIGHWAYS_12082026190804_FSC_Meeting_Intimation.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-31 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_31072026191326_Outcome_of_BM_31_07_2026.pdf) |
| 2026-05-20 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_20052026221423_final_outcome_upload_S.pdf) |
| 2026-01-30 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_30012026202435_Outcome_F_1.pdf) |
| 2026-01-30 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_30012026202000_Outcome_F_1.pdf) |
| 2025-11-07 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_07112025195830_outcome.pdf) |
| 2025-11-07 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/HIGHWAYS_07112025191045_outcome.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/HIGHWAYS_18112025180045_Transcript_Investor_Call.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://nsearchives.nseindia.com/corporate/HIGHWAYS_23112022114303_HIT_EOGM_11.11.2022_Transcript.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/HIGHWAYS_20052025161757_Stock_Exchange_intimaiton_-_HIT_Investor_Presentation_20052025.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/HIGHWAYS_18082025155456_Investor_Presentation-sd.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:15:48.049Z.