Telecom - Services
Valuation | |
|---|---|
| Market Cap | 1.25 LCr |
| Price/Earnings (Trailing) | 17.54 |
| Price/Sales (Trailing) | 3.85 |
| EV/EBITDA | 6.92 |
| Price/Free Cashflow | 7.05 |
| MarketCap/EBT | 13.04 |
| Enterprise Value | 1.27 LCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 32.53 kCr |
| Rev. Growth (Yr) | 8.8% |
| Earnings (TTM) | 7.13 kCr |
| Earnings Growth (Yr) | -55.6% |
Profitability | |
|---|---|
| Operating Margin | 29% |
| EBT Margin | 29% |
| Return on Equity | 19.75% |
| Return on Assets | 10.61% |
| Free Cashflow Yield | 14.19% |
Growth & Returns | |
|---|---|
| Price Change 1W | 1.7% |
| Price Change 1M | 14.6% |
| Price Change 6M | 34.2% |
| Price Change 1Y | 39.1% |
| 3Y Cumulative Return | 42.4% |
| 5Y Cumulative Return | 12.7% |
| 7Y Cumulative Return | 6.1% |
| 10Y Cumulative Return | 2.3% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -10.91 kCr |
| Cash Flow from Operations (TTM) | 19.64 kCr |
| Cash Flow from Financing (TTM) | -8.65 kCr |
| Cash & Equivalents | 21 Cr |
| Free Cash Flow (TTM) | 12.86 kCr |
| Free Cash Flow/Share (TTM) | 48.75 |
Balance Sheet | |
|---|---|
| Total Assets | 67.19 kCr |
| Total Liabilities | 31.09 kCr |
| Shareholder Equity | 36.1 kCr |
| Current Assets | 14.13 kCr |
| Current Liabilities | 9.7 kCr |
| Net PPE | 46.87 kCr |
| Inventory | 20.2 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.02 |
| Debt/Equity | 0.04 |
| Interest Coverage | 4.63 |
| Interest/Cashflow Ops | 14.75 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend Yield | 2.73% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | -2.1% |
Investor Care | |
|---|---|
| Dividend Yield | 2.73% |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 27.04 |
Financial Health | |
|---|---|
| Current Ratio | 1.46 |
| Debt/Equity | 0.04 |
Technical Indicators | |
|---|---|
| RSI (14d) | 66.73 |
| RSI (5d) | 47.83 |
| RSI (21d) | 72.71 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Sell |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Sell |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Smart Money: Smart money has been increasing their position in the stock.
Size: It is among the top 200 market size companies of india.
Profitability: Very strong Profitability. One year profit margin are 22%.
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 42.4% return compared to 12.4% by NIFTY 50.
Insider Trading: There's significant insider buying recently.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Dividend: Dividend paying stock. Dividend yield of 2.73%.
No major cons observed.
Smart Money: Smart money has been increasing their position in the stock.
Size: It is among the top 200 market size companies of india.
Profitability: Very strong Profitability. One year profit margin are 22%.
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 42.4% return compared to 12.4% by NIFTY 50.
Insider Trading: There's significant insider buying recently.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Dividend: Dividend paying stock. Dividend yield of 2.73%.
No major cons observed.
Updated May 4, 2025
Shares of Indus Towers fell by 7% after the company delayed announcements regarding bonuses and dividends, disappointing small shareholders.
Concerns remain regarding Indus Towers' exposure to mobile network operators with weak credit profiles, which account for 30-35% of revenues.
Despite positive financial results, the uncertainty around the company’s ability to distribute dividends has raised investor concerns.
Summary of INDUS TOWERS's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management's outlook for Indus Towers Limited emphasizes continued growth driven by strong customer capex plans and increasing network expansion activities, particularly in the context of 5G. They noted a healthy increase in tenancy additions, specifically from major customers, reflecting an encouraging trend in network investment as the operating environment stabilizes.
Key forward-looking points include:
Overall, management expresses confidence in sustaining long-term growth and shareholder value, bolstered by an efficient operational approach and a robust market presence.
Understand INDUS TOWERS ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Bharti Airtel Limited | 51.03% |
| SBI ARBITRAGE OPPORTUNITIES FUND | 3.54% |
| KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK SPECIAL OP | 1.68% |
| MIRAE ASSET INFRASTRUCTURE FUND | 1.04% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA BAL | 1% |
| Airtel Mobile Commerce (Kenya) Limited | 0% |
| Airtel Mobile Commerce Zambia Limited |
Detailed comparison of INDUS TOWERS against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| RELIANCE | Reliance Industries | 19.21 LCr | 10.71 LCr | +1.10% | +15.10% | 23.08 | 1.79 | - | - |
| BHARTIARTL | Bharti Airtel | 12.05 LCr |
Comprehensive comparison against sector averages
INDUSTOWER metrics compared to Telecom
| Category | INDUSTOWER | Telecom |
|---|---|---|
| PE | 17.49 | 176.87 |
| PS | 3.83 | 4.79 |
| Growth | 8.6 % | 16.3 % |
INDUS TOWERS is a prominent player in the telecom infrastructure sector, with its stock ticker listed as INDUSTOWER.
With a market capitalization of Rs. 107,663.3 Crores, Indus Towers Limited specializes in the operation and maintenance of wireless communication towers and associated infrastructures for various telecom service providers across India.
The company’s offerings include:
In addition, Indus Towers supplies energy to telecom equipment and secures necessary space from residential and commercial property owners to establish passive infrastructure in strategic locations. The company also provides smart digital infrastructure solutions, which encompass features like smart poles with LED lights, CCTV cameras, variable digital messaging boards, environmental sensors, and city public Wi-Fi services, including fiber services.
Originally known as Bharti Infratel Limited, the company rebranded to Indus Towers Limited in December 2020 and has its headquarters in Gurugram, India.
Recently, Indus Towers reported trailing 12-month revenues of Rs. 29,951.5 Crores and a notable profit of Rs. 10,005.7 Crores over the past four quarters, along with a consistent revenue growth rate of 9.3% over the last three years. The company also maintains a strong commitment to its investors, distributing dividends with a yield of 3.46% per year, paying out Rs. 11 per share in the last 12 months, and actively engaging in share buybacks, having repurchased 2.1% of its own stock last year.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
INDUSTOWER vs Telecom (2021 - 2026)
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question 1: Vivekanand S. (Ambit Capital): How long will this revenue growth sustain given that now you would have some visibility of the capex plans of all your key customers?
Answer: From a macro perspective, our tenant growth has been robust. While FY25 was an extraordinary year, we're seeing continued demand supported by our strong order book. I can't provide specific numbers for revenue, but we expect ongoing growth driven by both tower and tenancy expansions, alongside a stable order pipeline.
Question 2: Vivekanand S. (Ambit Capital): How do you see the capex intensity of the business heading into FY27 and FY28?
Answer: Capex will be influenced by maintenance and growth needs. While FY24 was unusual, capex for FY25 and FY26 has seen steady levels. As long as growth opportunities exist, our capital spending will remain significant but will ultimately moderate once growth slows and becomes more focused on maintenance.
Question 3: Rishabh Dhancholia (HSBC): Are these margin levels sustainable, and what would be the key drivers?
Answer: While Q3 showed strong margins, they included seasonal benefits, especially in energy. We are working on digital interventions and operational efficiencies that should sustain margins longer term. It's important to view them over a more extended period rather than on a quarterly basis.
Question 4: Sumangal Nevatia (Kotak Securities): What is holding us back from resuming dividends, and will there be a reconsideration post-budget?
Answer: Our board is committed to shareholder distribution. We plan to evaluate performance during the Q4 meeting, considering new changes from the budget. However, no comments can be made until those discussions occur.
Question 5: Aditya Suresh (Macquarie): What are the changes you're seeing in your tenancy market share, particularly with competitors becoming more aggressive?
Answer: We are offering competitive solutions to our customers and remain focused on operational efficiencies and uptime. While competition exists, our strategy aims to maintain our market leadership and capture maximum market share.
Question 6: Sanjesh Jain (ICICI Securities): How do you see energy losses narrowing down over the next 2 years?
Answer: We're actively working to reduce inefficiencies in energy operations, transitioning from diesel to cleaner sources. While I can't assign a specific timeline, improvements will occur as we implement our initiatives effectively.
Question 7: Gaurav Malhotra (Axis): Is the focus on organic growth in Africa purely by design, or are there limited acquisition opportunities available?
Answer: Our strategy prioritizes organic growth to establish a competitive foundation. Should suitable inorganic opportunities arise that align with our valuation criteria, we might consider them, but the focus remains on building from the ground up.
Question 8: Aditya Bansal (Motilal Oswal): Can you provide updates on migration contributions this quarter?
Answer: While I can't give specific numbers, our goal is to enhance operational performance and offer competitive value propositions to incentivize customers to shift to Indus. Any churn is often offset by new tenancies as we optimize locations.
This format summarizes the Q&A section from the earnings call, maintaining clarity and detail regarding the questions and respective answers while adhering to the character limit.
| 0% |
| Airtel Mobile Commerce Tchad S.A | 0% |
| Airtel Mobile Commerce B.V. | 0% |
| Airtel Money S.A. | 0% |
| Airtel Money Niger S.A. | 0% |
| Airtel Mobile Commerce Holdings B.V. | 0% |
| Airtel Mobile Commerce (Tanzania) Limited | 0% |
| Airtel Mobile Commerce Uganda Limited | 0% |
| Mobile Commerce Congo S.A. | 0% |
| Airtel Money RDC S.A. | 0% |
| Airtel Mobile Commerce Madagascar S.A. | 0% |
| Airtel Mobile Commerce Rwanda Limited | 0% |
| Airtel Mobile Commerce (Seychelles) Limited | 0% |
| Airtel Money Tanzania Limited | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| 2.06 LCr |
| -0.90% |
| +20.30% |
| 37.75 |
| 5.85 |
| - |
| - |
| IDEA | VODAFONE IDEA | 1.2 LCr | 45.21 kCr | +9.80% | +34.30% | -4.21 | 2.66 | - | - |
| TATACOMM | Tata Communications | 48 kCr | 24.57 kCr | +4.10% | +13.30% | 26.98 | 1.95 | - | - |
| ITI | ITI (Indian Teleph.Ind.Ltd) | 27.02 kCr | 2.68 kCr | -2.10% | +4.20% | -289.28 | 10.09 | - | - |
| HFCL | HFCL | 10.91 kCr | 3.98 kCr | +15.00% | -21.80% | 198.08 | 2.74 | - | - |
| RAILTEL | RailTel Corp of India | 10.41 kCr | 3.22 kCr | -0.90% | +3.60% | 41.37 | 3.23 | - | - |
| GTLINFRA | GTL Infrastructure | 1.5 kCr | 1.41 kCr | +12.50% | -27.80% | -2.29 | 1.06 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| -2.3% |
| 2,420 |
| 2,478 |
| 2,334 |
| 2,363 |
| 5,219 |
| 2,980 |
| Total profit before tax | -2.3% | 2,420 | 2,478 | 2,334 | 2,363 | 5,219 | 2,980 |
| Current tax | 9.8% | 571 | 520 | 543 | 440 | 457 | 400 |
| Deferred tax | -39.5% | 73 | 120 | 54 | 144 | 758 | 357 |
| Total tax | 0.8% | 644 | 639 | 597 | 584 | 1,216 | 757 |
| Total profit (loss) for period | -3.4% | 1,776 | 1,839 | 1,737 | 1,779 | 4,003 | 2,224 |
| Other comp. income net of taxes | 73% | 0 | -2.7 | 0 | -1.8 | 0 | -1.2 |
| Total Comprehensive Income | -3.3% | 1,776 | 1,837 | 1,737 | 1,777 | 4,003 | 2,222 |
| Earnings Per Share, Basic | -4% | 6.73 | 6.97 | 6.59 | 6.75 | 15.176 | 8.3 |
| Earnings Per Share, Diluted | -4% | 6.73 | 6.97 | 6.59 | 6.75 | 15.175 | 8.3 |
| Debt equity ratio | 0% | 003 | 004 | 004 | 007 | 008 | 0 |
| Debt service coverage ratio | -1.1% | 0.0293 | 0.0401 | 0.0289 | 0.0391 | 0.0367 | 0.04 |
| Interest service coverage ratio | -0.6% | 0.1063 | 0.1118 | 0.1053 | 0.1049 | - | - |
| 96% |
| 1,440 |
| 735 |
| 1,454 |
| 1,496 |
| 636 |
| -3.7 |
| Depreciation and Amortization | 5.7% | 6,400 | 6,056 | 5,322 | 5,320 | 2,843 | 1,277 |
| Other expenses | -34.9% | 8,637 | 13,261 | 17,939 | 12,048 | 6,260 | 2,888 |
| Total Expenses | -16.9% | 17,322 | 20,834 | 25,488 | 19,636 | 10,252 | 4,455 |
| Profit Before exceptional items and Tax | 61.8% | 13,147 | 8,127 | 3,255 | 8,424 | 4,316 | 2,412 |
| Exceptional items before tax | - | 0 | 0 | -492.8 | 0 | 0 | 0 |
| Total profit before tax | 61.8% | 13,147 | 8,127 | 2,762 | 8,424 | 4,316 | 2,412 |
| Current tax | -10.3% | 1,740 | 1,939 | 2,032 | 2,037 | 985 | 580 |
| Deferred tax | 915.8% | 1,484 | 147 | -1,313.8 | 20 | -7.2 | 85 |
| Total tax | 54.6% | 3,224 | 2,086 | 719 | 2,057 | 978 | 666 |
| Total profit (loss) for period | 64.3% | 9,922 | 6,041 | 2,043 | 6,367 | 3,338 | 1,747 |
| Other comp. income net of taxes | 4.8% | -3 | -3.2 | -0.8 | 3.6 | 2 | -11 |
| Total Comprehensive Income | 64.3% | 9,919 | 6,038 | 2,042 | 6,371 | 3,340 | 1,736 |
| Earnings Per Share, Basic | 69.3% | 37.27 | 22.42 | 7.58 | 23.626 | 15.472 | 9.443 |
| Earnings Per Share, Diluted | 69.3% | 37.27 | 22.42 | 7.58 | 23.626 | 15.472 | 9.443 |
| Debt equity ratio | -0.1% | 007 | 016 | 022 | 025 | - | - |
| Debt service coverage ratio | 0.8% | 0.0357 | 0.0277 | 0.0162 | 0.0309 | - | - |
| Interest service coverage ratio | 4.2% | 0.1276 | 0.0897 | 0.0648 | - | - | - |
| 52.6% |
| 30 |
| 20 |
| 23 |
| 23 |
| 15 |
| 15 |
| Total non-current financial assets | 3.5% | 1,537 | 1,485 | 1,418 | 1,357 | 1,294 | 1,201 |
| Total non-current assets | 5.6% | 53,076 | 50,253 | 47,490 | 45,402 | 41,062 | 37,874 |
| Total assets | 6.4% | 67,241 | 63,210 | 58,393 | 55,901 | 52,176 | 46,595 |
| Borrowings, non-current | -100.7% | 0 | 153 | 767 | 1,504 | 2,772 | 2,434 |
| Total non-current financial liabilities | 0.8% | 17,012 | 16,877 | 16,164 | 15,717 | 15,865 | 15,237 |
| Provisions, non-current | 5.2% | 2,594 | 2,466 | 2,284 | 2,159 | 2,010 | 1,874 |
| Total non-current liabilities | 2.4% | 21,387 | 20,885 | 19,398 | 18,672 | 18,219 | 17,300 |
| Borrowings, current | -29.8% | 1,481 | 2,109 | 3,184 | 2,807 | 3,018 | 2,279 |
| Total current financial liabilities | -3% | 8,712 | 8,984 | 9,322 | 9,254 | 9,000 | 7,609 |
| Provisions, current | 7.2% | 90 | 84 | 81 | 74 | 74 | 68 |
| Current tax liabilities | 76.3% | 232 | 132 | 128 | 182 | 225 | 67 |
| Total current liabilities | -0.8% | 9,713 | 9,788 | 10,573 | 10,155 | 10,236 | 8,160 |
| Total liabilities | 1.4% | 31,100 | 30,673 | 29,972 | 28,827 | 28,454 | 25,460 |
| Equity share capital | 0% | 2,638 | 2,638 | 2,638 | 2,695 | 2,695 | 2,695 |
| Total equity | 11.1% | 36,141 | 32,537 | 28,422 | 27,074 | 23,722 | 21,135 |
| Total equity and liabilities | 6.4% | 67,241 | 63,210 | 58,393 | 55,901 | 52,176 | 46,595 |
| Cashflows used in obtaining control of subsidiaries |
| 45600% |
| 1,829 |
| 5 |
| 0 |
| 0 |
| - |
| - |
| Proceeds from sales of PPE | 4.2% | 527 | 506 | 454 | 415 | - | - |
| Purchase of property, plant and equipment | -24.2% | 6,784 | 8,953 | 3,622 | 3,288 | - | - |
| Proceeds from sales of long-term assets | -100.4% | 0 | 275 | 0 | 0 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | 688.2% | 11 | -0.7 | -2.1 | 11 | - | - |
| Interest received | -54.7% | 284 | 626 | 58 | 58 | - | - |
| Other inflows (outflows) of cash | -222421% | -3,111.5 | 2.4 | 1,381 | 638 | - | - |
| Net Cashflows From Investing Activities | -44.4% | -10,925 | -7,564.5 | -1,739 | -2,181.6 | - | - |
| Payments to acquire or redeem entity's shares | - | 2,749 | 0 | 0 | 0 | - | - |
| Proceeds from exercise of stock options | - | 0.8 | 0 | 0 | 0 | - | - |
| Proceeds from borrowings | -26.9% | 6,258 | 8,556 | 12,932 | 16,242 | - | - |
| Repayments of borrowings | -7.2% | 8,309 | 8,958 | 13,698 | 18,914 | - | - |
| Payments of lease liabilities | 11.8% | 3,547 | 3,173 | 3,028 | 2,850 | - | - |
| Dividends paid | - | 0 | 0 | 2,964 | 0 | - | - |
| Interest paid | -32.3% | 276 | 407 | 367 | 442 | - | - |
| Net Cashflows from Financing Activities | -116.5% | -8,622.1 | -3,982.6 | -7,125.9 | -5,963.6 | - | - |
| Net change in cash and cash eq. | 157.1% | 91 | 36 | -958.2 | 967 | - | - |
Analyst / Investor Meet • 22 Jan 2026 Indus Towers Limited has informed the Exchange regarding Earnings Call on the Company's performance for the third quarter (Q3) ended December 31, 2025. |