Recurring Tower Leasing Business ModelIndus operates a multi-tenant passive-infrastructure model with long-term and recurring leasing contracts. That creates predictable, contract-backed cash flows and scale benefits as tenancy per site rises, supporting durable revenue visibility and high incremental margins over 2–6 months.
High And Sustainable Profitability MarginsConsistently strong gross, EBIT and EBITDA margins indicate structural operating efficiency in passive infrastructure provision. High margins reflect low incremental costs for additional tenants and pricing power on site services, supporting durable profitability even amid modest revenue growth.
Robust Cash Generation And FCF ConversionOperating cash flow and free cash flow materially exceed reported net income, showing strong cash conversion. That durable cash generation supports reinvestment, maintenance capex and debt servicing, enhancing balance sheet flexibility and funding for tenant additions or network support.