INDUSTOWER · Indus Towers Ltd · Construction Services
INDUSTOWER · Indus Towers Ltd · Construction Services
As of 06 Nov close
52-week range
20.4% below 52-week high
52-week range: as of 06 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 53 days old
Revenue (latest Q)
₹8,431 Cr
Revenue YoY
PAT YoY
+0.5%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
2.4
P/S (TTM)
3.1
Sector P/E
16.1
Dividend yield
+3.6%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| INDUSTOWER (this stock) | 14.4 | 2.4 | +21.8% | +17.3% | 0.52 | +3.6% |
| DLF | 34.5 | 3.5 | +65.8% | +9.8% | 0.01 | +1.2% |
| Lodha Developers | 23.1 | 4.6 | +22.7% | +17.7% | 0.42 | +0.4% |
| Oberoi Realty | 24.5 | 3.4 | +41.6% | +14.7% | 0.16 | +0.5% |
Promoter
stable
FII
falling 3q
MF
16.22% (+2.14pp)
rising 3q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- lowthehindubusinessline.com· 04 Nov 2026, 02:07 pmIndus Towers deploys 50,000 solar-powered telecom sites in India, targets 100,000
- lowbusiness-standard.com· 27 Oct 2026, 01:16 pmBharti Airtel share price up 3%; rallies 12% in October, outperforms market
- mediumcorporate actionthehindubusinessline.com· 06 Oct 2026, 07:24 pmHEG Advanced Materials surges 8% on fresh orders, demerger plans
- lowcorporate actionthehindubusinessline.com· 01 Oct 2026, 04:53 pmHEG Advanced Materials bags ₹127.35-crore lithium-ion battery order
- lowbusiness-standard.com· 30 Sept 2026, 09:45 amReplus Engitech, Indus Towers sign MoU to develop telecom energy storage
- lowzerodha.com· 30 Sept 2026, 08:56 amAdditional exposure margin on securities under MWPL
- lowthehindubusinessline.com· 21 Sept 2026, 07:25 pmHEG Advanced Materials surges 15% in 3 sessions on ₹218 crore order win
- loweconomictimes.indiatimes.com· 21 Sept 2026, 03:31 pmSunil Singhania-backed Abakkus Flexi Cap Fund increases stake in Dixon Technologies, OFSS, 30 others in August
- loweconomictimes.indiatimes.com· 14 Sept 2026, 09:15 pmAhead of Market: 10 things that will decide stock market action on Tuesday
- unknowneconomictimes.indiatimes.com· 28 Aug 2026, 10:04 amVodafone Idea shares jump over 120% in one year. Should you buy now or avoid the multibagger?
- unknownzerodha.com· 26 Aug 2026, 09:01 amAdditional exposure margin on securities under MWPL
- loweconomictimes.indiatimes.com· 17 Aug 2026, 02:16 pmSunil Singhania-backed Abakkus Flexi Cap Fund increases stake in RIL, Vedanta Power and 32 others
- lowbusiness-standard.com· 14 Aug 2026, 12:32 pmVoda Idea soars 4% on huge volume in weak market; up for 6th straight day
- loweconomictimes.indiatimes.com· 10 Aug 2026, 09:41 pmAhead of Market: 10 things that will decide stock market action on Tuesday
- loweconomictimes.indiatimes.com· 27 Jul 2026, 12:24 pmQ1 Results today: Coal India, Tata Power, BEL, Coforge, among 68 companies to announce earnings
Concalls & investor presentations
AI-generatedKey takeaway: Indus Towers Limited conducted its earnings call on July 28, 2026, to discuss its performance for the first quarter ended June 30, 2026. Management reported healthy rollout momentum, driven by network expansion from major customers and the transition of expired tenancies to Indus. The company maintained a leading market share, achieving significant tenancy growth compared to peers. Operationally, Indus added approximately 3,100 macro towers and 4,200 colocations, resulting in year-on-year growth of 6.3% and 5.1%, respectively. Financially, gross revenues increased by 4.6% year-on-year to INR 84.3 billion, with core revenues from rental up by 5.2%. EBITDA rose by 3.0% year-on-year, while profit after tax saw a slight increase of 0.5%. Management emphasized ongoing investments in technology and sustainability, alongside a commitment to maintain dividend distributions despite new investments in Africa. The call concluded with management expressing confidence in the company's growth trajectory and operational resilience.
Management highlighted strong operational performance and growth opportunities.
Sourced from an exchange-filed transcript, dated 03 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Indus Towers Limited conducted its earnings call on May 1, 2026, discussing its performance for the fourth quarter and the financial year ending March 31, 2026. Management highlighted strong co-location and tower additions, attributing this to effective execution and customer service. The financial position of a major customer improved, contributing to business momentum. The Board proposed a final dividend of INR 14 per share. Operationally, the company faced challenges due to severe weather but maintained high service uptime. Regulatory changes, including incentive schemes and energy policies, were noted as beneficial. The installed base of 5G BTSs reached approximately 531,000, with significant data consumption growth reported. Financially, total revenues for Q4 FY26 were INR 81 billion, with core revenues increasing by 5.4% year-on-year. EBITDA was INR 44.6 billion, reflecting a 1.6% year-on-year growth. The company also reported a profit after tax of INR 17.9 billion, up 0.8% year-on-year.
Management emphasized strong operational and financial performance.
Sourced from an exchange-filed transcript, dated 08 May 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Indus Towers Limited conducted its earnings call on February 3, 2026, to discuss its performance for the third quarter ending December 31, 2025. Management reported a healthy increase in tenancy additions, particularly from a major customer, reflecting improved network investment activity. The company highlighted its commitment to bridging digital gaps by installing towers in remote areas and emphasized ongoing regulatory support for telecom infrastructure. Operationally, Indus Towers added 3,548 macro towers and 6,105 colocations, achieving a year-on-year growth of 10.6% in tower base. Financially, total revenues rose by 7.9% year-on-year to INR 81.5 billion, while EBITDA declined by 35.6% year-on-year due to prior write-backs. Management noted a focus on cost optimization and digital transformation to enhance operational efficiency. The company also discussed its long-term growth strategy in Africa, emphasizing organic expansion and the establishment of local subsidiaries.
The document presented both positive operational growth and challenges in profitability.
Sourced from an exchange-filed transcript, dated 09 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedIndus Towers Limited's FY2025-26 Integrated Annual Report highlights the company's focus on sustainability, operational excellence, and connectivity as a catalyst for progress. The report adheres to statutory and regulatory requirements, including the Companies Act, 2013, and SEBI regulations. Key financial and operational metrics have been restated for consistency, and the company has decapitalized ₹6,598 Mn related to GST, impacting depreciation by ₹650 Mn. The report includes a Business Responsibility and Sustainability Report assured by SGS India Private Limited, and there are no material changes affecting the company's financial position since the end of the financial year. The company has no pending insolvency proceedings, and there were no changes in directors or key management personnel during the year. The Board affirms compliance with accounting standards and internal controls, with no material weaknesses identified.
- The company decapitalized ₹6,598 Mn related to GST, reversing depreciation by ₹650 Mn due to a favorable Supreme Court ruling.
- Financial statements and disclosures comply with the Companies Act, 2013, SEBI regulations, and other statutory requirements.
- No material changes affecting financial position since the end of FY2025-26, and no insolvency proceedings pending.
- No changes in directors or key management personnel during the year.
- Internal financial controls were assessed as adequate, with no material weaknesses identified.
Key takeaway: Indus Towers Limited maintains strong compliance with statutory and regulatory requirements, with no material financial or governance issues reported in FY2025-26.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Regulatory Action (3 items); Default / Covenant Breach (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Regulatory Action
3 occurrencesRecent (last 12 months)
Delhi High Court quashed the Show Cause Notice issued by DGGI regarding disallowance of ITC availed by the company on towers and passive infrastructure following a favourable Supreme Court ruling in December 2024.
Earlier (1-3 years ago)
Delhi High Court quashed the Show Cause Notice issued by DGGI regarding disallowance of ITC availed by the company on towers and passive infrastructure following a favourable Supreme Court ruling in December 2024.
Indus Towers Limited was imposed a penalty of Rupees One Lakh by SEBI on June 27, 2022 for violation of Regulation 3(12) of the erstwhile SEBI (Share Based Employees Benefits) Regulations, 2014 regarding 5,32,862 equity shares held by ESOP Trust of the Company.
Default / Covenant Breach
2 occurrencesRecent (last 12 months)
The company has statutory dues in arrears for various taxes (VAT, CST, GST) with disputes pending in multiple forums, including the Supreme Court of India and High Court, with amounts unpaid in millions of rupees.
Earlier (1-3 years ago)
The company has outstanding statutory dues in arrears for more than six months as of March 31, 2025, including unpaid stamp duty and entry tax disputes pending in various courts and tribunals, with amounts totaling millions of rupees.
Routine disclosures
Contingent Liability
3 occurrencesRecent (last 12 months)
The company has a contingent liability related to asset retirement obligations (ARO) for leased premises, with a provision of ₹178 Million as at March 31, 2026.
Earlier (1-3 years ago)
The company is involved in significant income tax and indirect tax litigations that are in appeal.
The company is involved in disputed tax matters, including income tax and indirect tax litigations, which are under appeal before various judicial forums. The outcome of these litigations is uncertain.
Related-Party Transaction
2 occurrencesRecent (last 12 months)
The company is seeking approval for Material Related Party Transaction(s) with Bharti Airtel Limited.
Earlier (1-3 years ago)
The company approved a material related party transaction for the purchase/acquisition of passive infrastructure business from Bharti Airtel Limited and Bharti Hexacom Limited.
Statutory dues in dispute
1 occurrenceEarlier (1-3 years ago)
The company has unpaid statutory dues under Indian Stamp Duty and Rajasthan Stamp Act, with disputes pending in Allahabad High Court and District Court Patiala House New Delhi, amounting to unspecified amounts.
Management & Board Governance
1 occurrenceRecent (last 12 months)
The Managing Director and CEO, along with the Chief Financial Officer, have informed the Auditors and the Audit & Risk Management Committee about significant changes in internal control over financial reporting, changes in accounting policies, and instances of significant fraud involving management or employees with significant roles in the internal control system.
Promoter Share Pledge
1 occurrenceRecent (last 12 months)
1.25% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).