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IndiGrid Infrastructure Trust vs SPML Infra Q3 FY26

Side-by-side earnings comparison across verified financials, sentiment, risks, and management commentary.

IN

IndiGrid Infrastructure Trust

IndiGrid reported a solid Q3 FY26 with revenue of ₹862.2 crore (+11.7% YoY) and EBITDA of ₹784.3 crore (+13% YoY), driven by acquisitions completed in Q1 FY26 (Renew assets worth ~₹2,200 crore).

SP

SPML Infra

SPML Infra reported a strong Q3 FY26 with revenue of ₹131 crore (+21% YoY), EBITDA of ₹26.3 crore (+86% YoY), and PAT of ₹20.5 crore (+97% YoY), driven by higher-margin new orders and completion of legacy projects.

Result Snapshot

Revenue₹862 Cr₹230 Cr
PAT₹100 Cr₹20 Cr
EBITDA Margin88%11%
Sentimentbullishbullish

Key Quotes

We do not give growth guidance we give DPU guidance which is intact for 16.
Harsh Shah · Managing Director
We are very very selective on certain criteria of our order selection... we don't bid where the margin is less than 10%.
Manoj Diga · Executive Director and CFO