Anzen India Energy Yield Plus Trust disclosed details of its outstanding non-convertible debentures (NCDs) as on September 30, 2026. The filing, submitted to stock exchanges on October 5, 2026, outlines the status of debt securities issued by the trust.

The disclosure was made pursuant to Clause 10.1 of Chapter VIII of the Securities and Exchange Board of India Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated April 13, 2022. This regulation mandates specific reporting for International Securities Identification Number (ISIN) details of debt securities under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Debt Securities Portfolio Overview

The trust currently holds two active tranches of NCDs with a combined issuance value of ₹1,475 crore. Both instruments feature quarterly coupon payments and include embedded options. The first tranche, issued in March 2025, remains fully outstanding, while the second tranche, issued in November 2025, shows a marginal reduction in outstanding balance compared to the amount issued.

Note: All amounts are in Indian Rupees (₹).

Regulatory Compliance and Governance

The filing was signed by Sanket Shah, Company Secretary and Compliance Officer, acting on behalf of Anzen India Energy Yield Plus Trust through its Investment Manager, EAAA Real Assets Managers Limited. The document serves as a formal intimation to BSE Limited and National Stock Exchange of India Limited regarding the status of the trust's debt instruments.

Copies of the filing were forwarded to key regulatory and depository entities, including Axis Trustee Services Limited, Catalyst Trusteeship Limited, National Securities Depository Limited, and Central Depository Services (India) Limited. This ensures transparency across all stakeholders involved in the custody and management of the trust's securities.

What the Numbers Show

The data reveals a divergence in the amortization or redemption status between the two tranches. While the first tranche of ₹700 crore remains fully outstanding at its original issuance level, the second tranche has seen a reduction from ₹775 crore to ₹769.19 crore. This difference of ₹5.81 crore suggests that partial redemptions or principal repayments have occurred for the longer-dated instrument since its issuance in November 2025, whereas the shorter-dated instrument has not yet reached any interim repayment milestones.

anzen india energy yield plus trust reported a standalone net profit of ₹696.09 million for the quarter ended June 30, 2026, driven by the consolidation of newly acquired solar and transmission assets. The Trust’s consolidated net profit stood at ₹540.37 million, an 85% year-on-year increase from ₹95.52 million in Q1FY26. EAAA Real Assets Managers Limited, the investment manager, declared a distribution of ₹3.00 per unit, with the record date set for August 7, 2026, and payment scheduled on or before August 14, 2026. The results were reviewed by S R B C & Co LLP, the statutory auditor, in accordance with Standard on Review Engagements (SRE) 2410.

The financial performance reflects significant portfolio expansion through strategic acquisitions completed during the quarter. On March 2, 2026, the Trust acquired 74% of the paid-up equity shares of 12 solar power Special Purpose Vehicles (SPVs) from Edelweiss Infrastructure Yield Plus and SEPL Energy Private Limited. Subsequently, it acquired 100% equity and optionally convertible redeemable preference shares of Kudgi Transmission Limited on May 19, 2026, and 100% equity shares of SEPL Energy Private Limited on June 10, 2026. These acquisitions expanded the Trust’s revenue base to ₹2,811.09 million from ₹1,071.81 million in the prior year period.

Financial Performance

Standalone total income reached ₹1,325.11 million, compared to ₹938.32 million in the corresponding quarter of the previous year. Consolidated Earnings Before Interest, Depreciation, and Tax (EBITDA) amounted to ₹2,322.17 million, up from ₹1,167.70 million in Q1FY26. Finance costs were recorded at ₹1,047.32 million, while depreciation expense totaled ₹699.97 million. The Net Distributable Cash Flows (NDCF) for the quarter were ₹1,008.19 million, enabling the declared distribution. The Trust maintained its credit ratings of "CRISIL AAA/Stable" and "IND AAA/Stable," confirmed in May 2026.

Segment-wise Performance

The Trust operates in two distinct segments: Power Transmission and Power Generation. In Q1FY27, the Power Generation segment contributed ₹1,972.02 million to revenue, while the Power Transmission segment contributed ₹839.07 million. The Profit Before Interest, Tax, and Depreciation (PBITD) for the Power Generation segment was ₹1,651.73 million, compared to ₹756.65 million for the Power Transmission segment. Total assets as of June 30, 2026, stood at ₹90,872.88 million, with the Power Generation segment holding ₹48,246.76 million.

Capital Raise and Debt Management

In February 2026, the Trust issued 59,525,000 units at ₹117 per unit to institutional investors, raising ₹6,964.43 million. As of June 30, 2026, ₹6,823.24 million of these proceeds had been utilized towards the stated objects of the issue. The Trust redeemed ₹3,000 million worth of Non-Convertible Debentures (NCDs) on May 27, 2026. The Net Borrowing Ratio stood at 50.86% as of June 30, 2026, down from 53.25% at the end of FY26. Additionally, the Trust issued 8,03,44,000 units at ₹125 per unit on May 19, 2026, for ₹10,043.00 million in lieu of the acquisition of Kudgi Transmission Limited.

What the Numbers Show

The sharp increase in net profit is largely attributable to the consolidation of new assets rather than organic growth alone, as comparative figures for the prior year did not include these entities. The acquisition of Kudgi Transmission Limited and the 12 solar SPVs significantly boosted the revenue base. The shift in depreciation method for transmission assets from Written Down Value to Straight Line Method effective April 1, 2026, may impact future earnings patterns. Furthermore, the Trust recognized ₹37.74 million as insurance income in Q4FY26 related to damaged inverters at Solzen Urja Private Limited, with further claims under process.