So, CARE Ratings ne NHIT ko dobara se 'CARE AAA; Stable' ka sabse high wala rating diya hai. Yeh unke liye ekdum solid signal hai ki unki financial position bohot strong hai. Yeh rating unke issuer rating aur alag alag debt facilities ke liye hai, jisse pata chalta hai ki woh apne financial commitments time par poore kar sakte hain.
Aur haan, yeh log rukne wale nahi lagte. Fifth round ki acquisitions mein do aur road assets add karne ka plan hai, jisse total assets ki संख्या 28 ho jayegi. Is expansion ke peeche unke experienced sponsor, National Highways Authority of India (NHAI), ka bhi support hai.
Financials ki baat karein toh, bhai kamaal ho gaya! FY24 mein ₹1,231 Cr tha operating income, woh FY25 mein badh kar ₹3,033 Cr ho gaya. Matlab double se bhi zyada! Profit before interest, taxes, depreciation, and amortisation (PBILDT) bhi ₹1,210 Cr se ₹3,007 Cr ho gaya. Aur Profit After Tax (PAT) toh ₹968 Cr (FY24) se seedha ₹1,855 Cr (FY25) par pahunch gaya.
Par abhi ek baat pe thoda dhyan dena padega. Yeh jo growth hui hai na, woh thodi debt badha kar hui hai. Gearing ratio FY24 ke 0.75 times se badh kar FY25 mein 0.87 times ho gaya hai. December 31, 2025 tak consolidated net debt ₹21,746 Cr tha. Aur yeh debt expected hai ki naye assets integrate hone ke baad enterprise value ka lagbhag 43% se 44-45% ho jayega.
Interest coverage ratio bhi thoda neeche aaya hai, FY24 mein 4.81 times tha, jo ab 3.04 times ho gaya hai FY25 mein. Lekin CARE Ratings ne 'Stable' outlook maintain kiya hai, matlab unke hisaab se yeh sab abhi bhi 'AAA' rated company ke liye acceptable hai.
CARE Ratings ka 'Stable' outlook batata hai ki trust ka business aur financial risk profile theek thak hi rahega. Iska reason hai consistent toll collection aur NHAI ka backing. Lekin investors ko thoda dhyaan dena hoga ki yeh log badhte hue debt ko kaise manage karte hain aur interest coverage ratio maintain rakhte hain, especially jab expansion chal raha hai.