Energy Infrastructure Trust 's Investment Manager, EnCap Investment Manager Private Limited, convened its Board of Directors meeting on Wednesday, May 13, 2026, and approved the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The board declared a Net Asset Value (NAV) of ₹80.14 per unit for the Trust as on March 31, 2026, as per Regulation 10(22) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The Investment Manager confirmed there is no erosion in the net worth of the Company as per the financial statements for the period ended March 31, 2026, compared to March 31, 2025. Subsequently, the management held an investor conference call on May 14, 2026, to discuss the performance and outlook.

Consolidated Financial Performance

The Trust and its subsidiary Pipeline Infrastructure Limited (PIL) reported the following consolidated financial results for the year ended March 31, 2026. Revenue from operations stood at ₹3,817.13 crore, while total income came in at ₹3,899.12 crore. The Trust recorded a consolidated net profit of ₹117.85 crore attributable to unitholders, a significant improvement over the prior year. Basic and diluted earnings per unit stood at ₹1.77.

Operational Highlights

According to the investor presentation, the Trust reported a transportation volume of 34.46 mmscmd for FY26, with a realised tariff of ₹79.3 per MMBTU. The net debt to AUM ratio stood at 45.1% as on March 31, 2026. The enterprise value of the SPV (PIL) as determined by the independent valuer was ₹11,891.78 crore as at March 31, 2026.

Consolidated Balance Sheet Highlights

The consolidated balance sheet as at March 31, 2026 reflects total assets of ₹12,931.73 crore. Total equity attributable to unitholders stood at ₹495.46 crore, with non-controlling interest of ₹4,045.17 crore. Total borrowings (non-current and current) amounted to ₹6,587.91 crore. Cash and cash equivalents improved to ₹829.98 crore from ₹647.10 crore in the prior year.

Net Asset Value and Fair Value

The consolidated statement of net assets at fair value as at March 31, 2026 shows total assets at fair value of ₹13,712.38 crore against liabilities of ₹8,391.10 crore, resulting in net assets attributable to unitholders at fair value of ₹5,321.28 crore. The NAV per unit on a book value basis stood at ₹68.38, while the fair value NAV per unit was declared at ₹80.14.

Net Distributable Cash Flows and Distributions

The Net Distributable Cash Flows (NDCF) at the Trust level for the year ended March 31, 2026 stood at ₹1,022.42 crore, with net distributable cash flows including surplus cash at ₹1,023.23 crore. At the SPV (PIL) level, the NDCF was ₹1,031.14 crore. During the year, total distributions of ₹1,012.62 crore were made to unitholders, comprising return of capital of ₹535.91 crore and return on capital of ₹476.71 crore across four quarterly tranches.

Subsequent to March 31, 2026, the Investment Manager declared a further distribution of ₹250.29 crore (return of capital ₹142.23 crore and return on capital ₹118.06 crore), paid between April 17–20, 2026.

Standalone Financial Results

On a standalone basis, the Trust reported total income of ₹486.83 crore for the year ended March 31, 2026, compared to ₹848.61 crore in the prior year. Profit after tax stood at ₹444.11 crore versus ₹820.87 crore previously, with basic and diluted earnings per unit at ₹6.69. The standalone NAV per unit at fair value was ₹80.14.

Credit Ratings and Regulatory Compliance

The Trust holds a "CRISIL AAA/Stable" rating, reaffirmed by CRISIL on March 09, 2026 and reviewed on April 13, 2026, as well as a "CARE AAA/Stable" rating reaffirmed by CARE Ratings on October 16, 2025 and April 28, 2026. The SPV's listed non-convertible debentures (NCDs) also carry "CRISIL AAA/Stable" and "CARE AAA/Stable" ratings with no revision. The board meeting intimation and financial results are available on the Trust's official website at www.pipelineinvit.com . The filing was signed by Ankitha Jain, Company Secretary and Compliance Officer (Membership No.: A36271), and Axis Trustee Services Limited was copied on the communication.

Energy Infrastructure Trust (formerly India Infrastructure Trust) has filed its quarterly compliance report on corporate governance for the quarter and financial year ended March 31, 2026. The report was submitted by EnCap Investment Manager Private Limited (formerly Brookfield India Infrastructure Manager Private Limited) in compliance with Regulation 26K of the SEBI Infrastructure Investment Trusts Regulations, 2014.

Board Composition and Leadership

The investment manager's board comprises six directors with a balanced composition of independent and non-independent members. The board structure demonstrates strong governance practices with appropriate representation across different categories.

The board maintains three independent directors out of six total members, ensuring adequate independent oversight. Mr. Prateek Shroff serves as the designated chairperson, appointed to this role effective from the close of the board meeting held on December 12, 2023.

Committee Structure and Governance

The investment manager has established four key committees as required under SEBI regulations, each with defined roles and appropriate composition. All committees have regular chairpersons appointed and maintain the required independence standards.

Ms. Kavita Venugopal chairs both the Audit Committee and Risk Management Committee, while Mr. Chaitanya Pande leads the Nomination and Remuneration Committee. Mr. Arun Balakrishnan serves as chairperson of the Stakeholders' Relationship Committee.

Board and Committee Meetings

During the quarter ended March 31, 2026, the board of directors conducted two meetings with full quorum requirements met. The meetings were held on January 6, 2026, and February 6, 2026, with six and four directors present respectively, including three independent directors at each meeting.

Committee meetings were also conducted during the quarter, with the Audit Committee meeting on February 6, 2026. The Nomination and Remuneration Committee, Risk Management Committee, and Stakeholders' Relationship Committee each held meetings on February 4, 2026, maintaining proper quorum and participation levels.

Regulatory Compliance Status

The trust demonstrates full compliance with SEBI InvIT regulations across all parameters. The annual affirmations section confirms 'Yes' status for all 34 compliance requirements, covering areas including:

• Board composition and independence criteria
• Committee structures and meeting requirements
• Risk assessment and management frameworks
• Related party transaction approvals and disclosures
• Vigil mechanisms and code of conduct compliance

The report confirms that all required information is appropriately disclosed on the trust's website at www.pipelineinvit.com , including financial information, investor grievance mechanisms, and regulatory filings. The compliance report for the quarter ended March 31, 2026, will be placed before the board at its next meeting, with any observations to be included in the subsequent quarterly report.