Indus Towers Limited INDUSTOWER NIFTY_MIDNSE

Communication Services · Telecom Services · India

https://www.industowers.com

Indus Towers Limited, a telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia. It offers ground base towers, smart poles, rooftop tower, ground-based mast, microsites, fiberized connectivity solutions, feather sites, small cells, etc.; and energy supply to telecom equipment, as well as acquires the requisite space from residential and commercial property owners and landlords for placing passive infrastructure at strategic locations. The company also provides smart digital infrastructure, which includes smart poles LED lights, CCTV cameras, variable digital messaging board, environment sensors, and city public Wi-Fi services, including fiber backbone. In addition, it offers telecom infra and related services, and business support services and scrap handling for telecom. The company was formerly known as Bharti Infratel Limited and changed its name to Indus Towers Limited in December 2020. Indus Towers Limited was incorporated in 2006 and is based in Gurugram, India. Indus Towers Limited operates as a subsidiary of Bharti Airtel Limited.

Market & Price

Market Cap

₹1.17 L Cr

Current Price

₹442.05

High / Low (52W)

₹477.75 / ₹324.05

Beta

0.02

Valuation

Stock P/E

16.31

Industry PE

23.64

Forward P/E

14.15

PEG Ratio

Book Value

₹150.33

Price to Book

2.94

P/S

3.59

EV/EBITDA

8.64

Dividend Yield

Profitability & Returns

ROCE

18.44%

ROE

19.81%

ROA

10.07%

Profit Margin

21.99%

Op Margin

32.42%

EPS (Latest Qtr)

₹6.80

EPS (TTM)

₹27.10

Balance Sheet & Liquidity

Debt/Equity

0.53

Quick Ratio

1.20

Current Ratio

1.72

Debt

₹21,126.90 Cr

Total Assets

₹71,316.10 Cr

Current Assets

₹15,518.40 Cr

Working Capital

₹6,515.40 Cr

Ownership

Promoter Holding

51.31%

Chg in Prom Hold

FII / Inst Holding

30.91%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

₹1.32 L Cr

Total Revenue (TTM)

₹32,493.10 Cr

EBITDA

₹15,262.30 Cr

Free Cash Flow

₹4,325.92 Cr

Operating Cash Flow

₹15,684.10 Cr

Shares Outstanding

₹263.72 Cr

Gross Margin

55.84%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

4.61%

Profit 5Y

51.86%

Revenue (YoY)

4.80%

Earnings (YoY)

0.80%

PROS

Excellent profit margin of 22.0%.
Profit CAGR of 51.9% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Communication Services).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	INDUSTOWER Indus Towers Limited NIFTY_MIDNSE	442.05	16.31	₹1.17 L Cr	-	18.44%	19.81%	4.61%	51.86%
2	IDEA Vodafone Idea Limited NIFTY_MIDNSE	13.99	4.36	₹1.52 L Cr	-	36.88%	-	2.05%	72.64%
3	NAUKRI Info Edge (India) Limited NIFTY_MIDNSEAITECH	995.00	44.44	₹64,449.87 Cr	1.45%	4.71%	4.57%	11.88%	483.26%
4	TATACOMM Tata Communications Limited NIFTY_MIDNSEAI	1,965.00	53.76	₹56,002.50 Cr	0.89%	15.29%	31.13%	11.61%	-17.69%
5	AFFLE Affle 3i Limited NIFTY_SMALLNSEAI	1,463.00	45.25	₹20,575.72 Cr	-	15.30%	13.79%	23.64%	22.97%
6	SUNTV Sun TV Network Limited NIFTY_SMALLNSE	502.15	13.73	₹19,788.96 Cr	1.00%	15.31%	11.85%	4.74%	-5.51%
7	PFOCUS Prime Focus Limited NSE	233.40	59.54	₹18,111.62 Cr	-	24.91%	13.14%	-0.29%	14.09%
8	INDIAMART IndiaMART InterMESH Limited NIFTY_SMALLNSEAITECH	2,015.70	25.58	₹12,116.83 Cr	1.49%	19.97%	20.70%	16.77%	18.70%
9	NAZARA Nazara Technologies Limited NSE	277.75	10.20	₹10,289.67 Cr	-	1.80%	1.97%	18.79%	34.50%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	7,547.40 Cr	7,727.10 Cr	8,057.60 Cr	8,146.30 Cr	8,101.00 Cr
Cost of Revenue	2,825.30 Cr	2,830.40 Cr	3,070.10 Cr	2,954.30 Cr	2,892.90 Cr
Gross Profit	4,722.10 Cr	4,896.70 Cr	4,987.50 Cr	5,192.00 Cr	5,208.10 Cr
Operating Expenses	-706.50 Cr	2,194.50 Cr	2,301.70 Cr	2,481.40 Cr	2,581.60 Cr
Operating Income	5,428.60 Cr	2,702.20 Cr	2,685.80 Cr	2,710.60 Cr	2,626.50 Cr
EBITDA	7,248.90 Cr	4,535.10 Cr	4,512.80 Cr	4,705.20 Cr	4,672.00 Cr
Interest Expense	461.60 Cr	479.10 Cr	474.70 Cr	487.00 Cr	468.90 Cr
Pretax Income	5,218.80 Cr	2,363.00 Cr	2,333.80 Cr	2,420.30 Cr	2,365.30 Cr
Tax Provision	1,215.60 Cr	583.90 Cr	597.00 Cr	644.40 Cr	572.40 Cr
Net Income	4,003.20 Cr	1,779.10 Cr	1,736.80 Cr	1,775.90 Cr	1,792.90 Cr
Diluted EPS	15.17	6.75	6.59	6.73	6.80

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	28,381.80 Cr	28,600.60 Cr	30,122.80 Cr	32,493.10 Cr
Cost of Revenue	-	10,590.80 Cr	11,149.90 Cr	11,448.80 Cr	12,004.90 Cr
Gross Profit	-	17,791.00 Cr	17,450.70 Cr	18,674.00 Cr	20,488.20 Cr
Operating Expenses	-	13,347.90 Cr	8,816.70 Cr	4,231.40 Cr	9,653.40 Cr
Operating Income	-	4,443.10 Cr	8,634.00 Cr	14,442.60 Cr	10,834.80 Cr
EBITDA	-	9,869.80 Cr	16,094.40 Cr	21,413.70 Cr	18,631.60 Cr
Interest Expense	-	1,669.50 Cr	1,812.00 Cr	1,857.90 Cr	1,893.00 Cr
Pretax Income	-	2,759.30 Cr	8,122.40 Cr	13,153.70 Cr	9,597.80 Cr
Tax Provision	-	719.30 Cr	2,086.20 Cr	3,222.00 Cr	2,452.90 Cr
Net Income	-	2,040.00 Cr	6,036.20 Cr	9,931.70 Cr	7,144.90 Cr
Diluted EPS	23.65	7.57	22.40	37.31	-

Compounded Sales Growth

5 Years:	4.61%
1 Year:	4.80%

Compounded Profit Growth

5 Years:	51.86%
1 Year:	0.80%

Stock Price Performance

1 Year:	+12.98%
6 Months:	+10.48%
3 Months:	-6.39%
1 Month:	+6.80%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	46,572.40 Cr	55,867.60 Cr	63,170.20 Cr	71,316.10 Cr
Current Assets	-	8,707.60 Cr	10,490.00 Cr	12,929.80 Cr	15,518.40 Cr
Cash & Equivalents	-	22.40 Cr	63.10 Cr	149.70 Cr	47.30 Cr
Inventory	-	-	0	7.60 Cr	26.80 Cr
Receivables	-	4,868.70 Cr	6,450.70 Cr	4,767.50 Cr	4,939.30 Cr
Total Liabilities	-	25,462.90 Cr	28,828.80 Cr	30,671.90 Cr	31,670.50 Cr
Current Liabilities	-	8,162.80 Cr	10,156.50 Cr	9,786.80 Cr	9,003.00 Cr
Long Term Debt	-	2,434.00 Cr	1,504.40 Cr	153.20 Cr	0
Total Debt	-	19,184.90 Cr	20,531.00 Cr	21,155.80 Cr	21,126.90 Cr
Total Equity	-	21,109.50 Cr	27,038.80 Cr	32,498.30 Cr	39,645.60 Cr
Shares Outstanding	-	269.49 Cr	269.49 Cr	263.82 Cr	263.71 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	7,904.80 Cr	11,582.10 Cr	19,645.00 Cr	15,684.00 Cr
Investing Cash Flow	-	-1,730.00 Cr	-7,546.20 Cr	-10,910.50 Cr	-10,198.30 Cr
Financing Cash Flow	-	-7,132.60 Cr	-3,995.20 Cr	-8,647.90 Cr	-5,588.10 Cr
Capital Expenditure	-	-3,622.60 Cr	-8,952.90 Cr	-6,784.00 Cr	-8,625.80 Cr
Free Cash Flow	-	4,282.20 Cr	2,629.20 Cr	12,861.00 Cr	7,058.20 Cr
Net Change in Cash	-	-957.80 Cr	40.70 Cr	86.60 Cr	-102.40 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	62.7%	61.0%	62.0%	63.1%
Operating Margin %	-	15.7%	30.2%	47.9%	33.3%
Net Margin %	-	7.2%	21.1%	33.0%	22.0%
ROE %	-	9.7%	22.3%	30.6%	18.0%
ROCE %	-	11.6%	18.9%	27.1%	17.4%

Shareholding Pattern

Insiders

51.31%

Institutions

30.91%

Public Float

63.49%

Analyst View

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INDUSTOWER · Communication Services