āagman

Not investment advice. Data and computed figures, for information only.

Indus Towers Ltd

NSE: INDUSTOWERF&O
₹383.30
+₹1.70 (+0.45%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,00,474 Cr
CMP
₹383.30
52-wk High / Low
₹482 / 341
P/E
14.0
P/B
2.5
Book Value
₹150.0
Div Yield
3.68%
ROCE
19.0%
ROE
18.6%
Face Value
₹10
D/E
0.53

Price+9.5% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹302
√(22.5 × EPS × book value per share)
ROIC
13.1%
vs 4.9% sector median
Cash flow to profit
2.20
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−137
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
9.0%
ROE × earnings retention ratio
ROE stability
7.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −1.90DII +1.74
Latest quarter vs the previous one
Cash-accrual divergence
−12.7%
of assets
Low = accruals track cash flow
Strengths
+PE of 14x is below the sector median of 42.5x
Watch-outs
−Price trades below its 200-day moving average (0.9x)
−Promoter holding fell by 17.7pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales7,0767,1327,1997,1937,3837,4657,5477,7278,0588,1888,1468,1018,431
Expenses3,5963,7113,6153,1222,8792,6025893,3323,6683,6163,6783,6773,953
Operating Profit3,4803,4223,5844,0724,5044,8646,9584,3954,3904,5724,4684,4244,478
OPM %49.2%48.0%49.8%56.6%61.0%65.2%92.2%56.9%54.5%55.8%54.8%54.6%53.1%
Other Income5697991085611484928583154155121
Interest35224611127408418255431437376404376358
Depreciation1,3741,5261,5961,5641,5601,5801,5681,6931,7041,8011,7981,8381,894
Profit before tax1,8101,7472,0762,4892,5922,9805,2192,3632,3342,4782,4202,3652,347
Net Profit1,3481,2951,5401,8531,9262,2244,0031,7791,7371,8391,7761,7931,746
EPS (₹)5.004.805.726.887.158.4315.176.746.586.976.736.806.62

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales11,6685,5586,0856,6216,8266,74313,95427,71728,38228,60130,12332,49332,867
Expenses6,6643,0703,2603,4643,7143,1856,77512,81618,71314,0449,47314,68014,925
Operating Profit5,0042,4882,8253,1573,1123,5587,17914,9019,66914,55720,65017,81317,942
OPM %42.9%44.8%46.4%47.7%45.6%52.8%51.4%53.8%34.1%50.9%68.6%54.8%54.6%
Other Income5221,6791,9601,5991,5591,8461,262458851,490764818513
Interest290333946533358361,6031,6701,8641,8581,8931,513
Depreciation2,1851,1551,1661,1801,0661,2822,8485,3255,3246,0606,4027,1417,330
Profit before tax3,0522,9793,5803,5293,5533,7884,7578,4312,7598,12213,1549,5989,611
Net Profit1,9922,2472,7472,4942,4943,2993,7796,3732,0406,0369,9327,1457,154
EPS (₹)10.5211.8514.8513.4813.4817.8314.0223.657.5722.4037.6527.0827.12

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital1,8941,8971,8501,8501,8501,8502,6952,6952,6952,6952,6382,638—
Reserves15,12616,34513,65015,11512,68211,69313,18219,45618,41524,34429,86037,008—
Borrowings2,5820278064,62721,57619,72619,18520,53121,15621,127—
Other Liabilities7,5522,4615,1632,6612,5771,5847,4916,0916,2788,2989,51410,543—
Total Liabilities27,15520,70320,94119,62517,11519,75444,94447,96846,57255,86863,16871,315—
Fixed Assets14,8126,0635,7945,5955,3326,71431,80031,82632,38439,30044,38049,514—
CWIP226705811011854274179355422567630—
Investments5,88210,05911,17212,3279,90611,1702,2711,65227631,4864,316—
Other Assets6,2344,5113,9161,5931,7591,81510,59814,31113,55916,14316,73516,855—
Total Assets27,15520,70320,94119,62517,11519,75444,94447,96846,57255,86863,16871,315—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,9901,9122,8663,4693,1592,3157,4819,1217,90511,58219,64515,684
Cash from Investing Activity−9371,548−237−1,8551,600−1,0121,798−2,174−1,730−7,546−10,910−10,198
Cash from Financing Activity−3,188−1,453−2,671−3,555−4,795−1,185−9,377−5,982−7,133−3,995−8,648−5,588
Net Cash Flow−1362,007−42−1,940−36118−98966−9584187−102

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %15.014.018.023.021.023.019.025.011.022.029.019.0
ROE %———————————18.6
EPS (₹)10.5211.8514.8513.4813.4817.8314.0223.657.5722.4037.6527.08
Book Value (₹)———————————150.0
Face Value (₹)———————————10
P/E———————————14.0
Div Yield %———————————3.68
NPM %16.331.034.130.329.738.424.822.67.220.132.221.4
OPM %43.045.046.048.046.053.051.054.034.051.069.055.0
D/E0.150.000.020.000.000.341.360.890.910.760.650.53
P/B———————————2.5

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+19.0%
5 years+18.0%
3 years+5.0%
TTM+7.0%
Compounded profit growth
10 years+13.0%
5 years+13.0%
3 years+47.0%
TTM−27.0%
Stock price CAGR
10 years+0.0%
5 years+5.0%
3 years+25.0%
Last year+8.0%
Return on equity
10 years21.0%
5 years23.0%
3 years25.0%
Last year19.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters61.65%61.65%53.51%53.51%53.51%69.85%67.49%68.99%68.99%50.00%51.26%51.26%
FIIs34.34%34.34%42.96%43.90%42.03%27.08%28.23%26.62%16.40%26.42%25.10%23.20%
DIIs1.71%1.71%2.28%1.58%3.58%2.43%2.93%2.47%9.90%18.41%19.68%21.42%
Government—0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.04%
Public2.26%2.26%1.20%0.97%0.83%0.64%1.33%1.89%4.68%5.12%3.93%4.05%
No. of shareholders39,14539,14534,77634,78951,09981,8901,97,7822,58,9973,10,6944,21,4273,35,7353,41,960
Change since Jun 2023 (pp)
Promoters −10.39FIIs −11.14DIIs +19.71Public +1.79

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationBoard Meeting Intimation for Consideration And Approval Of The Audited Financial Results (Standalone & Consolidated) For The Second Quarter (Q2) And Half Year Ended On September 30, 2026Closure Of Trading WindowAnnouncement under Regulation 30 (LODR)-Credit RatingAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingMay 2026TranscriptMay 2026RecordingFeb 2026TranscriptOct 2025TranscriptOct 2025RecordingJul 2025TranscriptJul 2025Recording

Corporate actions

As of 10 Aug 2026
10 Aug 2026DIVIDENDDividend - Rs 14 Per Share—
13 May 2022DIVIDENDInterim Dividend - Rs 11 Per Share—
8 Feb 2021DIVIDEND Interim Dividend - Rs 17.82 Per Share—
5 Aug 2020DIVIDEND Interim Dividend - Rs 2.30 Per Share—
5 May 2020DIVIDEND Interim Dividend - Rs 4.10 Per Share—
19 Dec 2019DIVIDEND Interim Dividend - Rs 2.75 Per Share—
22 Aug 2019DIVIDEND Interim Dividend - Rs 3.65 Per Share—
7 May 2019DIVIDEND Interim Dividend - Rs 7.50 Per Share—
1 Nov 2018DIVIDEND Interim Dividend - Rs 7.50 Per Sh—
19 Jul 2018DIVIDEND Dividend- Rs 14 Per Share—
20 Jul 2017DIVIDEND Dividend - Rs 4 Per Share—
31 Mar 2017DIVIDEND Interm Dividend Rs 12/- Per Share —
9 Aug 2016DIVIDEND Dividend - Rs 3/- Per Share—
3 Aug 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 6.50/- Per Share—
24 Jul 2014DIVIDENDAnnual General Meeting + Dividend - Rs.4.40/- Per Share + Interim Dividend Rs 4.50/- Per Share(Purpose Revised)—
20 Jun 2013DIVIDENDAnnual General Meeting And Dividend Rs.3/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman