NewsIntelligent Supply Chain Infrastructure Trust Reports Q3FY26 Results with Steady PerformanceIntelligent Supply Chain Infrastructure Trust Reports Q3FY26 Results with Steady Performance
Intelligent Supply Chain Infrastructure Trust reported Q3FY26 standalone profit of ₹83.94 crore on consistent revenue of ₹149.50 crore, maintaining earnings per unit of ₹2.75. The trust distributed ₹254.52 crore to unitholders during nine months across five tranches. Consolidated operations showed revenue growth to ₹344.63 crore but reported a loss of ₹1.41 crore due to operational expenses. The subsidiary SPV generated strong cash flows of ₹148.45 crore for the quarter.
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Intelligent Supply Chain Infrastructure Trust has released its unaudited financial results for the third quarter and nine months ended December 31, 2025, demonstrating consistent operational performance across its infrastructure portfolio.
Standalone Financial Performance
The trust delivered stable standalone results for Q3FY26, maintaining its revenue momentum and profitability metrics.
| Metric | Q3FY26 | Q3FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Revenue from Operations | ₹149.50 crore | ₹149.50 crore | ₹446.87 crore | ₹446.87 crore |
| Finance Costs | ₹64.18 crore | ₹64.18 crore | ₹191.85 crore | ₹191.85 crore |
| Profit for the Period | ₹83.94 crore | ₹83.90 crore | ₹250.65 crore | ₹250.44 crore |
| Earnings per Unit | ₹2.75 | ₹2.75 | ₹8.22 | ₹8.22 |
The trust maintained consistent revenue of ₹149.50 crore for the quarter, identical to the previous year period. After accounting for finance costs of ₹64.18 crore and other expenses totaling ₹1.38 crore, the trust achieved a net profit of ₹83.94 crore.
Distribution to Unitholders
The trust demonstrated strong cash flow generation and maintained its commitment to regular distributions throughout the nine-month period.
| Declaration Date | Distribution per Unit | Payment Date |
|---|---|---|
| April 23, 2025 | ₹0.9127 | April 30, 2025 |
| May 22, 2025 | ₹0.9398 | May 30, 2025 |
| June 20, 2025 | ₹0.9127 | June 30, 2025 |
| September 18, 2025 | ₹2.7881 | September 30, 2025 |
| December 18, 2025 | ₹2.7972 | December 31, 2025 |
During the nine months ended December 31, 2025, the trust made total distributions of ₹254.52 crore to unitholders, representing more than 90% of its distributable cash flows as required under SEBI InvIT Regulations.
Consolidated Operations
On a consolidated basis, which includes the subsidiary Intelligent Supply Chain Infrastructure Management Private Limited, the trust reported different performance metrics reflecting operational complexities.
| Parameter | Q3FY26 | Q3FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Revenue from Operations | ₹344.63 crore | ₹336.60 crore | ₹1,033.87 crore | ₹999.61 crore |
| Total Expenses | ₹348.73 crore | ₹346.19 crore | ₹1,166.34 crore | ₹1,036.89 crore |
| Loss for the Period | ₹1.41 crore | ₹5.19 crore | ₹119.16 crore | ₹24.68 crore |
| Loss per Unit | ₹0.05 | ₹0.17 | ₹3.91 | ₹0.81 |
The consolidated revenue increased to ₹344.63 crore in Q3FY26 from ₹336.60 crore in Q3FY25. However, higher operational expenses, including operations and maintenance costs of ₹125.13 crore and depreciation of ₹148.77 crore, resulted in a consolidated loss.
Net Distributable Cash Flows
The subsidiary SPV generated robust cash flows during the period, supporting the trust's distribution capabilities.
| Component | Q3FY26 | Nine Months FY26 |
|---|---|---|
| Cash Flow from Operations | ₹243.10 crore | ₹726.54 crore |
| Treasury Income | ₹2.88 crore | ₹8.26 crore |
| Capital Expenditure | ₹97.53 crore | ₹276.15 crore |
| Net Distributable Cash Flow | ₹148.45 crore | ₹458.65 crore |
The SPV distributed ₹149.50 crore and ₹446.87 crore during the quarter and nine months respectively, constituting more than 90% of its net distributable cash flows.
Credit Rating and Corporate Structure
CARE Ratings Limited reaffirmed the trust's "CARE AAA; Stable" issuer rating on April 10, 2025, and August 29, 2025, reflecting the trust's strong credit profile. The trust operates through its 100% subsidiary and maintains relationships with related parties including sponsor Reliance Retail Ventures Limited, which holds significant units in the trust.
The trust's net borrowings ratio stood at 0.43 as of December 31, 2025, compared to 0.46 in the previous year, indicating improved leverage metrics. Outstanding borrowings totaled ₹2,122 crore at the trust level.
Source:
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