Indus Towers Limited

Telecommunication · Telecom - Services

NSE: INDUSTOWER BSE: 534816

₹373.20

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Telecom - Services

The largest companies in the same industry by market cap. This company ranks #3 of 20. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Bharti Airtel Limited	1,070,785	67.4	17.3%	-5.9%	1.37%	55	5	12
Vodafone Idea Limited	140,304	3.8	-96.6%	52.0%	—	14	100	28
Indus Towers Limited (this stock)	98,456	13.8	18.0%	6.0%	3.75%	82	78	16
Bharti Hexacom Limited	71,225	39.1	24.2%	-14.2%	1.26%	69	31	12
Tata Communications Limited	47,204	62.0	27.3%	2.7%	1.06%	39	0	29
HFCL Limited	34,748	63.6	6.7%	209.2%	0.09%	60	33	51
Railtel Corporation Of India Limited	8,526	24.6	15.3%	-30.8%	1.22%	72	39	49
Tata Teleservices (Maharashtra) Limited	6,705	180.5	1.1%	-37.8%	—	7	35	13

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹99,355 Cr

EV / EBITDA

5.3x

EV / Sales

3.02x

Market cap / Sales

3.00x

Earnings yield

7.26%

Quarterly Financials

Download CSV

Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 8,552 Cr, up 5.0% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 1,745 Cr, up 0.6% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	8,431	2,347	1,745	₹6.6200
March 31, 2026	8,101	2,360	1,789	₹6.7800
Dec. 31, 2025	8,146	2,418	1,774	₹6.7300
Sept. 30, 2025	8,188	2,475	1,837	₹6.9600
June 30, 2025	8,058	2,331	1,734	₹6.5700
March 31, 2025	7,727	2,360	1,776	₹6.7300
Dec. 31, 2024	7,547	5,216	3,997	₹15.1510
Sept. 30, 2024	7,465	2,979	2,222	₹8.3000
June 30, 2024	7,383	2,592	1,926	₹7.1500
March 31, 2024	7,193	2,489	1,853	₹6.8800
Dec. 31, 2023	7,199	2,077	1,541	₹5.7200
Sept. 30, 2023	7,132	1,747	1,295	₹4.8100
June 30, 2023	7,076	1,813	1,351	₹5.0100

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	8,552	8,256	8,300	8,271	8,143	7,819	7,631	7,579	7,439	7,302	7,298	7,230	7,132
Operating revenue	8,431	8,101	8,146	8,188	8,058	7,727	7,547	7,465	7,383	7,193	7,199	7,132	7,076
Other income	121	156	154	83	85	92	84	114	56	108	99	97	56
Operating expenses	3,827	3,590	3,597	3,534	3,712	3,407	593	2,603	2,879	3,122	3,615	3,711	3,596
Operating profit	4,604	4,511	4,549	4,654	4,346	4,320	6,954	4,862	4,504	4,071	3,584	3,422	3,480
Operating profit margin	54.6%	55.7%	55.8%	56.8%	53.9%	55.9%	92.1%	65.1%	61.0%	56.6%	49.8%	48.0%	49.2%
Depreciation	1,893	1,837	1,798	1,800	1,704	1,692	1,568	1,580	1,560	1,564	1,595	1,525	1,372
Interest	485	469	487	462	396	360	255	418	408	127	11	246	352
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	2,347	2,360	2,418	2,475	2,331	2,360	5,216	2,979	2,592	2,489	2,077	1,747	1,813
Tax	602	571	644	638	596	583	1,219	757	666	636	536	452	462
Net profit	1,745	1,789	1,774	1,837	1,734	1,776	3,997	2,222	1,926	1,853	1,541	1,295	1,351
EPS	6.62	6.78	6.73	6.96	6.57	6.73	15.15	8.30	7.15	6.88	5.72	4.81	5.01
Net profit (TTM)	7,146	7,135	7,122	9,344	9,730	9,922	9,999	7,544	6,616	6,041	5,587	3,338	2,915
EPS (TTM)	27.09	27.04	26.99	35.41	36.75	37.33	37.48	28.05	24.56	22.42	20.73	12.38	10.81

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	32,493	9,584	7,135
March 31, 2025	30,123	13,147	9,922
March 31, 2024	28,601	8,127	6,041
March 31, 2023	28,382	2,762	2,043

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	4.7%	17.7%	32,970^†	30,469^†	28,962^†	28,743^†	28,061^†	14,568^†	6,867^†	8,049^†	7,714^†	7,107^†
Operating revenue	4.6%	18.4%	32,493	30,123	28,601	28,382	27,708^†	13,951^†	6,738^†	6,822^†	6,618^†	6,085^†
Other income	—	—	477^†	346^†	361^†	361^†	352^†	617^†	129^†	1,228^†	1,096^†	1,022^†
Operating expenses	—	—	14,433^†	9,482^†	14,044^†	18,713^†	12,820^†	6,773^†	3,104^†	—	3,094^†	2,582^†
Operating profit	23.2%	20.3%	18,060^†	20,641^†	14,557^†	9,669^†	14,888^†	7,178^†	3,635^†	—	3,524^†	3,502^†
Operating profit margin	—	—	55.6%^†	68.5%^†	50.9%^†	34.1%^†	53.7%^†	51.5%^†	53.9%^†	—	53.3%^†	57.6%^†
Depreciation	—	—	7,139^†	6,400^†	6,056^†	5,322^†	5,320^†	2,843^†	1,277^†	—	1,180^†	1,166^†
Interest	—	—	1,815^†	1,440^†	735^†	1,454^†	1,496^†	636^†	74^†	196^†	188^†	654^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	0^†	-493^†	0^†	0^†	0^†	0^†	-26^†	0^†
Profit before tax	51.4%	17.3%	9,584	13,147	8,127	2,762	8,424^†	4,316^†	2,412^†	3,665^†	3,227^†	3,336^†
Tax	—	—	2,449^†	3,224^†	2,086^†	719^†	2,057^†	978^†	666^†	886^†	813^†	631^†
Net profit	51.7%	16.4%	7,135	9,922	6,041	2,043	6,367^†	3,338^†	1,747^†	2,779^†	2,414^†	2,705^†
EPS	52.8%	11.8%	27.04^†	37.33^†	22.42^†	7.58^†	23.63^†	15.48^†	9.44^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	55.6%^†	68.5%^†	50.9%^†	34.1%^†	53.7%^†	51.5%^†	53.9%^†	—	53.3%^†	57.6%^†
EBIT margin	35.1%^†	48.4%^†	31.0%^†	14.9%^†	35.8%^†	35.5%^†	36.9%^†	56.6%^†	51.6%^†	65.6%^†
PBT margin	29.5%	43.6%	28.4%	9.7%	30.4%^†	30.9%^†	35.8%^†	53.7%^†	48.8%^†	54.8%^†
Net margin	22.0%	32.9%	21.1%	7.2%	23.0%^†	23.9%^†	25.9%^†	40.7%^†	36.5%^†	44.5%^†
Interest coverage	6.28x^†	10.13x^†	12.05x^†	2.90x^†	6.63x^†	7.79x^†	33.64x^†	19.73x^†	18.16x^†	6.10x^†
Dividend payout	0.0%^†	0.0%^†	0.0%^†	145.1%^†	0.0%^†	156.5%^†	147.2%^†	—	—	—
Earnings retention	100.0%^†	100.0%^†	100.0%^†	-45.1%^†	100.0%^†	-56.5%^†	-47.2%^†	—	—	—
Current ratio	1.73x	1.32x	—	—	—	—	—	—	—	—
Quick ratio	1.72x	1.32x	—	—	—	—	—	—	—	—
Debt to equity	0.02x	0.07x	—	—	—	—	—	—	—	—
Return on equity	18.0%	30.5%	—	—	—	—	—	—	—	—
Return on assets	10.0%	15.7%	—	—	—	—	—	—	—	—
Return on capital employed	18.3%^†	27.3%^†	—	—	—	—	—	—	—	—
Asset turnover	0.46x	0.48x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	15,665	-10,237	-5,554	8,619	7,046
March 31, 2025	19,638	-10,925	-8,622	6,784	12,854
March 31, 2024	11,583	-7,564	-3,983	8,953	2,630
March 31, 2023	7,907	-1,739	-7,126	3,622	4,284
March 31, 2022	9,112	-2,182	-5,964	3,288	5,824

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	71,354	39,679	37,041	921	0	15,546	9,007	22	49,463	27
March 31, 2025	63,210	32,537	29,899	2,109	153	12,957	9,788	149	44,337	8
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.