INDUS TOWERS LIMITED
₹378.15-₹4.35 (-1.1%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹1,12,575 Cr
- P/E
- 12.0x
- EV / EBITDA
- 8.1x
- Revenue
- ₹30,123 Cr
- Net margin
- 21.1%
- ROCE
- 30.6%
Price chart
Technical chartScreen technicals →+2.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +1.1%
- 3M
- -3.7%
- 6M
- -7.8%
- 1Y
- +2.7%
- 5Y
- +31.5%
52-week range
Day change -₹4.35 (-1.1%) from ₹383 to ₹378 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in INDUSTOWER, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 33.5%
Concerns0
Rule-based from financial data. Not advice.
About the company
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.
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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.
- Sector
- Technology
- Shares outstanding
- 263 Cr shares
- ISIN
- INE121J01017
- BSE code
- 534816
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹1,12,575 Cr
- P/E
- 12.0x
- P/B
- 3.1x
- EV / EBITDA
- 8.1x
- EV / Sales
- 4.5x
- P/S
- 3.9x
- Earnings yield
- 8.3%
- 52-week high
- ₹477.90
- 52-week low
- ₹354.70
Profitability
- Operating margin
- 50.9%
- Net margin
- 21.1%
- EBITDA margin
- 56.1%
- ROE
- 22.3%
- ROCE
- 30.6%
- ROA
- 10.8%
- Dividend payout
- 0.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 18.3%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹30,123 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 5.3%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 33.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹16,047 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 64.5%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 64.2%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 28.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹11,583 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 46.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹91.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.0%
Solvency and efficiency
- Current ratio
- 1.95
- Debt / Equity
- 0.76
- Debt / Assets
- 0.37
- Debt / EBITDA
- 1.28
- Interest coverage
- 7.81
- Financial leverage
- 2.06
- CFO / Net profit
- 1.92
- Cash / Market cap
- 14.4%
- Cash per share
- ₹61.45
- Asset turnover
- 0.51
- Fixed asset turnover
- 0.73
- Capital intensity
- 1.37
- Debtor days
- 82 days
- Cash conversion cycle
- 82 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹33 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹9,482 Cr |
| Sales | Operating profit | ₹20,641 Cr |
| Operating profit | Interest | ₹1,858 Cr |
| Operating profit | Depreciation | ₹6,400 Cr |
| Operating profit | Profit before tax | ₹12,383 Cr |
| Other income | Profit before tax | ₹764 Cr |
| Profit before tax | Tax and other | ₹3,225 Cr |
| Profit before tax | Net profit | ₹9,922 Cr |
Revenue and net profit
Revenue grew 5.3% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹13,951 Cr | ₹3,338 Cr |
| FY2022 | ₹27,708 Cr | ₹6,367 Cr |
| FY2023 | ₹28,382 Cr | ₹2,043 Cr |
| FY2024 | ₹28,601 Cr | ₹6,041 Cr |
| FY2025 | ₹30,123 Cr | ₹9,922 Cr |
Cash flows
FY2025: ₹19,638 Cr from operations, ₹8,713 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹7,477 Cr | ₹9,281 Cr |
| FY2022 | ₹9,112 Cr | ₹6,930 Cr |
| FY2023 | ₹7,907 Cr | ₹6,168 Cr |
| FY2024 | ₹11,583 Cr | ₹4,018 Cr |
| FY2025 | ₹19,638 Cr | ₹8,713 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹30,123 Cr+5.3%1Y
- Net profit
- ₹9,922 Cr+64.2%1Y
- Cash from operations
- ₹19,638 Cr
- Free cash flow
- ₹8,713 Cr+116.8%1Y
- Revenue CAGR, 5Y
- 33.5%
- EBITDA CAGR, 5Y
- 31.9%
- Net profit CAGR, 5Y
- 28.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹30,123 Cr | ₹20,641 Cr | — | ₹9,922 Cr | ₹19,638 Cr | ₹8,713 Cr | 30.5% | +5.3% | +64.2% |
Monthly returns
Month-by-month returns of INDUSTOWER across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹63,210 Cr |
| Equity capital | ₹2,638 Cr |
| Reserves | ₹29,899 Cr |
| Borrowings | ₹21,156 Cr |
| Other liabilities | ₹9,518 Cr |
| Assets | ₹63,210 Cr |
| Fixed assets | ₹44,375 Cr |
| Capital work in progress | ₹567 Cr |
| Investments | ₹1,506 Cr |
| Other assets | ₹16,762 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
INDUSTOWER trades at 12.0x earnings against a peer median of 52.1x (a 77% discount).
Not shown (no positive earnings and no EV / Sales): VODAFONE IDEA LIMITED, PB Fintech Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| INDUS TOWERS LIMITEDINDUSTOWERthis companyP/E ↓ discount | ₹1.1 L Cr | 12.0x | 3.1x | 22.3% | 8.1x |
| LTIMindtree LimitedLTM | ₹1.8 L Cr | 37.7x | 8.0x | 23.2% | 26.3x |
| Tech Mahindra LimitedTECHM | ₹1.6 L Cr | 40.3x | 7.3x | 8.9% | 42.5x |
| VODAFONE IDEA LIMITEDIDEA | ₹1.2 L Cr | — | -1.4x | 30.1% | 20.5x |
| Billionbrains Garage Ventures LimitedGROWW | ₹1.0 L Cr | 66.3x | — | -52.3% | -108.0x |
| Persistent Systems LimitedPERSISTENT | ₹1.0 L Cr | 68.6x | 15.0x | 20.6% | 66.6x |
| Info Edge(India) Ltd.NAUKRI | ₹86,455 Cr | 82.5x | 1.9x | 3.3% | 71.0x |
| Bharti Hexacom LimitedBHARTIHEXA | ₹83,980 Cr | 52.3x | 13.4x | 10.9% | 27.6x |
| PB Fintech LimitedPOLICYBZR | ₹75,814 Cr | — | 9.3x | 0.5% | 1567.2x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
INDUSTOWER since 1 January, against earlier years.
Historical volatility
INDUSTOWER's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 51.0% |
| FY2022 | 54.0% |
| FY2023 | 34.0% |
| FY2024 | 51.0% |
| FY2025 | 69.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹30,123 Cr |
| Costs | |
| Interest | ₹1,858 Cr |
| Expenses | ₹9,482 Cr |
| Operating profitOperating Profit | ₹20,641 Cr |
| Other income and charges | |
| Profit before tax | ₹13,147 Cr |
| Tax | |
| Net profitNet Profit | ₹9,922 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹63,210 Cr |
| Equity capitalEquity Capital | ₹2,638 Cr |
| Reserves | ₹29,899 Cr |
| Borrowings | ₹21,156 Cr |
| Other liabilitiesOther Liabilities | ₹9,518 Cr |
| AssetsTotal Assets | ₹63,210 Cr |
| Fixed assetsFixed Assets | ₹44,375 Cr |
| Capital work in progressCWIP | ₹567 Cr |
| Investments | ₹1,506 Cr |
| Other assetsOther Assets | ₹16,762 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹19,638 Cr |
| Investing cash flowCash from Investing Activity | -₹10,925 Cr |
| Financing cash flowCash from Financing Activity | -₹8,622 Cr |
| Change in cashNet Cash Flow | ₹91 Cr |
Learn while you research
Academy chapters picked for INDUS TOWERS LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth InvestingTech & communications often trade on growth, learn the framework.7 min read
- 04 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 05 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read