Indus Towers Limited (INDUSTOWER) AI Stock Analysis

• Market Cap: ₹1.16T
• Dividend Yield: N/A
• Average Volume (3M): 247.09K
• Price to Earnings (P/E): 12.4
• Beta (1Y): 1.07
• Revenue Growth: 7.80%
• EPS Growth: 26.53%
• Country: IN
• Employees: 3,791
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): 6.97
• Shares Outstanding: 2,638,162,800
• 10 Day Avg. Volume: 236,443
• 30 Day Avg. Volume: 247,092
• PEG Ratio: 0.14
• Price to Book (P/B): 2.92
• Price to Sales (P/S): 3.15
• P/FCF Ratio: 7.38
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹370.00
• Price Target Upside: -14.56% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: ₹456.00 ▲(5.30% Upside)

Indus Towers Limited scores well due to its strong financial performance and reasonable valuation. Technical indicators are positive but suggest caution due to potential overbought conditions. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market demand and successful business operations, reinforcing the company's market position.

Profitability Margins

High profitability margins suggest efficient cost management and strong pricing power, supporting long-term financial stability.

Cash Flow Management

Strong cash flow management ensures liquidity and the ability to reinvest in growth opportunities while servicing debt.

Negative Factors

Debt Management

While the balance sheet is solid, high debt levels require careful oversight to avoid financial strain and maintain flexibility.

Lack of Earnings Call Data

The absence of earnings call data limits transparency and investor insight into management's strategic direction and performance outlook.

Corporate Events

Lack of recent corporate events may indicate limited strategic initiatives or partnerships, potentially impacting competitive positioning.

Indus Towers Limited Business Overview & Revenue Model

Company Description

Indus Towers Limited establishes, operates, and maintains wireless communication towers. The company offers infrastructure services to telecom operators and other wireless services providers. As of March 31, 2022, it owned and operated approximately 185,447 towers and 335,791 co-locations in 22 telecommunication circles in India. 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 headquartered in Gurugram, India.

How the Company Makes Money

Indus Towers generates revenue primarily through the leasing of its telecom towers to various mobile network operators. The company's revenue model is based on long-term contracts with these operators, where they pay a monthly or annual fee for access to the towers. Key revenue streams include rental income from tower leasing, co-location agreements that allow multiple operators to share the same tower, and additional services such as site maintenance and energy management. Significant partnerships with major telecom operators in India, along with the growing demand for data and mobile connectivity, contribute to the company's earnings and overall financial performance.

Indus Towers Limited Financial Statement Overview

Summary

Indus Towers Limited demonstrates strong financial performance with robust revenue growth, high profitability margins, and efficient cash flow management. The balance sheet is solid, though careful debt management is advised.

Income Statement

Indus Towers Limited has demonstrated robust revenue growth, with a significant increase from 2021 to 2025. The TTM (Trailing-Twelve-Months) gross profit margin is approximately 48.45%, and the net profit margin is around 31.64%, indicating strong profitability. EBIT and EBITDA margins are also healthy at 45.93% and 66.62%, respectively, showcasing operational efficiency. Overall, the income statement reflects a positive growth trajectory and stable margins.

Balance Sheet

The company's balance sheet is solid, with a manageable debt-to-equity ratio of about 0.60 in the TTM period. The return on equity (ROE) stands at approximately 28.41%, highlighting effective utilization of equity. The equity ratio is 52.94%, suggesting a strong equity position relative to total assets. However, the high level of total debt necessitates careful management to mitigate potential risks.

Cash Flow

Indus Towers Limited's cash flow position is strong, with a notable increase in free cash flow in the TTM period. The operating cash flow to net income ratio is at 1.98, and the free cash flow to net income ratio is 1.29, indicating efficient cash generation relative to net income. The free cash flow growth rate is robust, highlighting the company's ability to generate cash for reinvestment and debt servicing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	307.97B	301.23B	286.01B	283.82B	277.17B	139.54B
Gross Profit	149.16B	186.74B	94.11B	105.23B	174.51B	47.92B
EBITDA	206.51B	214.14B	156.75B	94.61B	151.35B	74.26B
Net Income	97.43B	99.32B	60.36B	20.40B	63.73B	37.79B
Balance Sheet
Total Assets	647.73B	631.70B	558.68B	465.72B	479.68B	449.44B
Cash, Cash Equivalents and Short-Term Investments	41.72B	72.26B	631.00M	2.98B	26.32B	22.86B
Total Debt	206.97B	211.56B	205.31B	191.85B	197.26B	215.76B
Total Liabilities	304.68B	306.72B	288.29B	254.63B	258.17B	290.67B
Stockholders Equity	343.05B	324.98B	270.39B	211.09B	221.50B	158.77B
Cash Flow
Free Cash Flow	125.95B	128.61B	26.29B	42.82B	58.36B	53.63B
Operating Cash Flow	193.38B	196.45B	115.82B	79.05B	91.21B	74.81B
Investing Cash Flow	-113.33B	-109.11B	-75.46B	-17.30B	-21.74B	17.98B
Financing Cash Flow	-83.30B	-86.48B	-39.95B	-71.33B	-59.82B	-93.77B

Indus Towers Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 433.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDUSTOWER, the sentiment is Positive. The current price of 433.05 is above the 20-day moving average (MA) of 424.97, above the 50-day MA of 412.39, and above the 200-day MA of 383.45, indicating a bullish trend. The MACD of 7.60 indicates Positive momentum. The RSI at 63.29 is Neutral, neither overbought nor oversold. The STOCH value of 39.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDUSTOWER.

Indus Towers Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDUSTOWER	79 Outperform	₹1.16T	12.35	―	―	7.80%	26.53%
IEX	72 Outperform	₹124.21B	26.49	―	3.23%	14.10%	19.23%
IRCTC	72 Outperform	₹502.04B	36.59	―	1.32%	7.66%	14.36%
BHARTIHEXA	62 Neutral	₹819.63B	53.15	―	0.78%	―	―
JSWINFRA	61 Neutral	₹538.07B	34.49	―	0.47%	22.40%	25.69%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
GRINFRA	60 Neutral	₹89.86B	8.15	―	1.20%	-6.01%	-3.81%

Indus Towers Limited Corporate Events

Indus Towers’ ESG Score Rises to 72.3 in Independent SES Assessment

Indus Towers Limited has disclosed that SES ESG Research Private Limited, a SEBI-registered ESG rating provider, has independently assigned the company an ESG score of 72.3 for FY 2025, marking an improvement from its previous score of 70.6. The rating, based solely on the company’s public disclosures and without any engagement from Indus Towers, underscores a gradual strengthening of its environmental, social and governance practices, which may positively influence investor perception and support its positioning as a more sustainable player in the telecom infrastructure sector.

Indus Towers Sets Up UAE Step-Down Subsidiary to Drive African Investments

Indus Towers Limited has expanded its corporate structure by having its wholly owned subsidiary, Indus Towers FZE, incorporate a step-down wholly owned subsidiary in the United Arab Emirates named Indus Towers Management FZE. The new UAE-based entity, set up in the Dubai World Trade Centre with an initial share capital subscribed in cash, will focus on investment in commercial enterprises and management, and is expected to act as a vehicle for Indus Towers’ planned investments in African markets, initially targeting Nigeria, Uganda and Zambia, underscoring the company’s strategic move to diversify geographically and tap growth opportunities outside India.

Indus Towers Sets Up Two UAE Subsidiaries to Pursue African Investments

Indus Towers Limited has expanded its international corporate structure by creating two step-down wholly owned subsidiaries in the United Arab Emirates, Indus Towers Investment FZE and Indus Towers Ventures FZE, under its existing UAE subsidiary Indus Towers FZE. Both new entities, incorporated at the Dubai World Trade Centre with identical initial share capital, are positioned as vehicles for investment in commercial enterprises and management, with a stated intent to evaluate and channel investments into African markets, starting with Nigeria, Uganda and Zambia, potentially marking a strategic geographic diversification of Indus Towers’ growth and capital deployment beyond its core Indian operations.

Indus Towers Expands with New UAE Subsidiary to Target African Markets

Indus Towers Limited has announced the incorporation of a wholly owned subsidiary, Indus Towers FZE, in the United Arab Emirates. This strategic move aims to facilitate investments in commercial enterprises and management, with an initial focus on expanding into African markets such as Nigeria, Uganda, and Zambia. The establishment of this subsidiary is expected to enhance Indus Towers’ operational capabilities and market reach, potentially impacting its industry positioning and offering new opportunities for stakeholders.

Indus Towers Achieves AAA Credit Rating Upgrade

Indus Towers Limited announced a revision in its credit rating by ICRA Limited, with its non-convertible debentures and long-term fund-based instruments upgraded to the highest rating of AAA with a stable outlook. This upgrade reflects the company’s strong financial position and operational stability, potentially enhancing its attractiveness to investors and stakeholders.

Indus Towers to Engage with Investors at CITIC CLSA India Forum

Indus Towers Limited has announced its participation in the 28th CITIC CLSA India Forum, scheduled for November 17, 2025. This meeting with analysts and institutional investors is an opportunity for the company to discuss its strategic initiatives and performance, potentially impacting its market positioning and stakeholder relations.

Indus Towers to Engage with Investors at Avendus Spark Conference

Indus Towers Limited has announced its participation in the Avendus Spark INDX Annual Investor Conference scheduled for November 18, 2025. This meeting is part of the company’s ongoing efforts to engage with analysts and institutional investors, which could potentially impact its market positioning and stakeholder relations by fostering transparency and investor confidence.

Indus Towers to Announce Q2 2025 Financial Results

Indus Towers Limited has announced that it will release its financial results for the second quarter ended September 30, 2025, on October 27, 2025. The company will also hold an earnings call on October 28, 2025, where senior management will discuss the company’s performance and address questions from participants. This announcement is crucial for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor relations.