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INDUSTOWER · NSE · Telecom - Infrastructure

Indus Towers Ltd

What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Communication Services
cheap low confidence No valuation within 120 days; P/E 14.0 vs peers 42.8 (3rd of 23); P/B 2.8 vs peers 5.0 (5th of 24).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Indus Towers's share price today?

Indus Towers last traded at ₹375.95 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 0.1% on the day, up 7.4% over a year. Its 52-week range is ₹338 to ₹482. The live price is in the app.

₹375.95 +0.1% today
+7.4% over 1 year · NSE, as of 13 Oct 2026, 10:45 am IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range27% of the way up
Low ₹338High ₹482

What is Indus Towers's market cap?

Indus Towers's market capitalisation is about ₹99,103 crore: what it would cost to buy every share at today's price. That makes it the 97th largest large cap company we cover.

₹99,103 Cr Large Cap97th largest large cap company
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: INDUSTOWER
ISIN
INE121J01017
Cap bucket
Large Cap, 97th largest by market cap
Industry (NSE)
Telecommunication › Telecom - Services › Telecom - Infrastructure
Listed since
2012
Futures and options
Traded

Is Indus Towers overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 14.0 vs peers 42.8 (3rd of 23); P/B 2.8 vs peers 5.0 (5th of 24).

Valuation

Latest price and trailing 12 months
P/E 14.04
vs peers 42.8 · 3rd of 23
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 2.78
vs peers 5.0 · 5th of 24
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹99,103 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 3.4%
vs peers 0.7% · 6th of 18
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.27
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Indus Towers a quality business?

Quality score 55.1, 10th of 25 in its peer set; WATCH on 28 of 30 flags judged.

Quality and risk

Data as of 13 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 55.1
vs peers 47.3 · 10th of 25
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
28 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 19.8%
vs peers 12.7% · 9th of 25
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 18.7%
vs peers 13.5% · 8th of 25
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 21.4%
vs peers 12.3% · 3rd of 25
Profit after everything, as a share of revenue. Learn more →
EPS ₹27.08
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Indus Towers made money for shareholders?

Yes: +7.4% over one year and +3.9% a year over five years.

Shareholder returns

1-year return +7.4%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +3.9% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−3.5%
1M
−0.9%
3M
−8.3%
6M
−14.3%
1Y
+7.4%
3Y
+29.4%
5Y
+3.9%

Does Indus Towers pay a dividend?

Yes. Indus Towers's dividend yield is 3.35% at the latest price; the last payout was ₹14.00 a share, ex-dividend 10 Aug 2026.

Dividends

Per share, by ex-dividend date
Dividend yield3.35%
The past 12 months' dividends as a share of today's price.
10 Aug 2026 · Final₹14.00
13 May 2022 · Interim₹11.00
8 Feb 2021 · Interim 2₹17.82
5 Aug 2020 · Interim₹2.30
5 May 2020 · Interim 3₹4.10
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Indus Towers growing?

Revenue 3 years 4.8% a year; profit 3 years 51.9% a year; revenue 5 years 3.5% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 4.8% a year
vs peers 12.1% · 19th of 24
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 51.9% a year
vs peers 14.3% · 4th of 20
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 3.5% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 2.3% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 53.0% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 10.2% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -4.0%
vs peers -11.4% · 11th of 19
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Indus Towers do last quarter?

Indus Towers reported revenue of ₹8,431 Cr, up 7.9% on a year earlier and a net profit of ₹1,746 Cr, down 28.1% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹8,431 Cr
+7.9% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹1,746 Cr
−28.1% on a year earlier
What was left for shareholders after every cost and tax.

How does Indus Towers compare with its peers?

Compared with 24 listed companies; 3rd of 23 on P/E; 10th of 25 on quality score.

Compared with 24 listed companies

24 companies

Indus Towers against its peers

Largest 10 of 24 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Indus Towers Ltd₹99,103 Cr14.02.819.8%18.7%+7.4%
Laurus Labs Ltd₹1.1 L Cr100.510.215.1%14.9%+136.7%
Siemens Energy India Ltd₹1.1 L Cr74.227.950.2%58.3%−2.0%
Tata Power Company Ltd₹1.1 L Cr28.36.86.1%7.4%−12.1%
GAIL (India) Ltd₹1.1 L Cr11.11.29.6%10.1%−7.4%
GE Vernova T&D India Ltd₹1.1 L Cr82.334.655.3%71.0%+40.5%
Lodha Developers Ltd₹1.1 L Cr25.83.114.4%15.0%−7.3%
Meesho Ltd₹1.1 L Cr—1.94.5%5.8%+35.8%
Cipla Ltd₹1.1 L Cr31.22.910.6%13.9%−16.1%
Tata Motors Passenger Vehicles Ltd₹1.0 L Cr—4.4302.8%15.1%−28.9%
Vedanta Ltd₹1.0 L Cr9.63.317.3%2.0%−44.7%
Peer median—42.85.012.7%13.5%−0.3%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Indus Towers?

Indus Towers is held by promoters 51.3%, foreign institutions 23.2%, domestic institutions 21.4%.

Shareholding pattern

Latest filing, percent of shares
Promoters51.3%
The founders and controlling group.
Foreign institutions23.2%
Overseas funds investing through the FPI route.
Domestic institutions21.4%
Indian insurers, banks, pension and mutual funds together.
Mutual funds16.2%
Indian mutual fund schemes; part of domestic institutions.
Retail and others2.0%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Indus Towers?

23 analysts cover Indus Towers, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

23 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Indus Towers do and what is it sensitive to?

Indus Towers Limited operates as a passive telecom infrastructure provider in India, leasing tower sites and providing energy services to telecom operators. Sensitive to: interest rate risk on debt obligations.

Business-model card

FY2026 · 42 verified
2Revenue
3Channels
3Regulators
4Reg. dependencies
5Sensitivities
1Costs
3Geographies

Indus Towers Limited operates as a passive telecom infrastructure provider in India, leasing tower sites and providing energy services to telecom operators. It earns revenue primarily from rental of passive infrastructure and energy provision for site operations across a pan-India network of approximately 330,000 towers.

Revenue engine

2 verified
Rental revenue from leasing passive infrastructure (64.4%)
Rental revenue for use of sites, recoveries of rates and taxes, recognized monthly as services rendered per master service agreements with telecom operators.
Revenue from sale of goods and related services (0.1%)
Recognized when products are delivered to customer and control of risks and rewards pass to buyer.

Customers & channels

3 verified
Telecom Service Providers (TSPs)
Company provides passive infrastructure services to all telecom operators on non-discriminatory basis; services driven by TSPs' network deployment and expansion plans.
Enterprise and public segment customers for In-Building Solutions (IBS)
Incremental co-locations and sustained IBS momentum across enterprise and public segments as part of strategic deployments.
Direct customer engagement through structured governance forums
Regular interactions including leadership governance meetings, deployment and planning meetings, and business continuity support to address operational performance and delivery concerns.

Regulators

3 verified
Department of Telecommunications (DoT)
Governs telecom infrastructure policy, Right of Way (RoW) rules, deployment frameworks and infrastructure classification; engaged on RoW and related policy issues.
Telecom Regulatory Authority of India (TRAI)
Regulates telecom sector policies and consultation papers; Company engages on IP-1 scope, regulatory relaxations and ease of doing business.
State governments and local authorities
Govern Right of Way permissions, property taxes, municipal regulations, and site acquisition; Company coordinates implementation of policies notified by Central Government.

Regulatory dependencies

4 verified
Right of Way (RoW) Rules 2024 incentive framework
Government introduced incentive framework encouraging adoption of updated RoW Rules; facilitates ease of deployment and reduces friction in infrastructure rollout.
Telecom tower utility infrastructure classification
DoT redefined telecom towers as utility infrastructure to exempt them from certain local taxes including property taxes, reducing operating costs for towercos.
Infrastructure Provider Category 1 (IP-1) licensing and regulation
Regulatory framework governing passive telecom infrastructure provision; Company engages with TRAI on regulatory relaxations and scope clarifications.
1 more statement
EMF Compliance and public perception constraints
Despite adherence to standards and minimal health risks, public perception and local opposition may pose challenges to site acquisition and network expansion.

Sensitivities

5 verified
Interest rate risk on debt obligations
Company's exposure to risk of changes in market interest rates relates primarily to long-term debt obligations with floating interest rates; higher rates increase debt servicing costs.
Commodity price volatility (diesel, steel, materials)
Fluctuations in commodity prices impact profitability and cash flows; Company manages through resource optimization, planning and data-led procurement decisions.
Customer financial health and payment defaults
Distressed financial health of key telecom operator customers could lead to persistent payment defaults and subdued cash flows; monitored through regular tracking and ageing reports.
2 more statements
Natural disasters, pandemic and terrorism
Natural disasters, pandemic and terrorism activities can lead to disruption of operations; Company mitigates through business continuity and disaster recovery measures.
Foreign exchange fluctuations
Company exposed to FX risk from international expansion in Nigeria, Uganda and Zambia; uses derivative instruments to manage foreign exchange exposures.

Cost inputs

1 verified
Supplier sourcing for maintenance and materials
98% procurement from local suppliers (~3K suppliers); sourcing capabilities and operational discipline maintained even amid dynamic global and supply chain challenges.

Geographies

3 verified
Pan-India presence across 22 circles in 36 states and union territories
Extensive domestic network covering all Indian states provides competitive advantage through coverage, responsiveness and pan-India reach supporting customer rollouts.
Rural India deployment
50% of towers installed in rural India in FY25; critical for achieving digital inclusion and government's connectivity agenda in semi-urban and rural areas.
International expansion in Africa (Nigeria, Uganda, Zambia)
Strategic foray into high-growth African markets for revenue diversification, operational scale and long-term value creation; subsidiaries established but operations not yet commenced.
Each statement is checked word for word against the FY2026 annual report; the passages are in the app.

What changed recently?

Dividend - Rs 14 Per Share (10 Aug 2026).

Change log

8 entries · newest first
  1. Corporate actionDividend - Rs 14 Per Share.
  2. Results filedQ1 FY2027 results filed.
  3. Results filedQ4 FY2026 results filed.
  4. Results filedQ3 FY2026 results filed.
  5. Results filedQ2 FY2026 results filed.
  6. Results filedQ1 FY2026 results filed.
  7. Results filedQ4 FY2025 results filed.
  8. Corporate actionBuy Back.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 28 of 30 flags judged; 1 red; 2 could not be judged.
  • Data gapsPEG (vendor), Business quality: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓166 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2026 · 42 verified

Questions people ask

What is Indus Towers's share price today?

Indus Towers last traded at ₹375.95 on the NSE, as of 13 Oct 2026, 10:45 am IST, up 0.1% on the day, up 7.4% over a year. Its 52-week range is ₹338 to ₹482. The live price is in the app.

What is Indus Towers's market cap?

Indus Towers's market capitalisation is about ₹99,103 crore: what it would cost to buy every share at today's price. That makes it the 97th largest large cap company we cover.

Is Indus Towers Ltd a large cap, mid cap or small cap?

Indus Towers Ltd (INDUSTOWER) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Indus Towers Ltd's P/E ratio?

14.04, vs peers 42.8 · 3rd of 23. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Indus Towers Ltd overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 14.0 vs peers 42.8 (3rd of 23); P/B 2.8 vs peers 5.0 (5th of 24).

How does Indus Towers Ltd make money?

Indus Towers Limited operates as a passive telecom infrastructure provider in India, leasing tower sites and providing energy services to telecom operators. It earns revenue primarily from rental of passive infrastructure and energy provision for site operations across a pan-India network of approximately 330,000 towers.

Who are Indus Towers Ltd's peers?

Compared with 24 listed companies: Laurus Labs Ltd, Siemens Energy India Ltd, Tata Power Company Ltd, GAIL (India) Ltd, GE Vernova T&D India Ltd and 19 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Indus Towers do last quarter?

Indus Towers reported revenue of ₹8,431 Cr, up 7.9% on a year earlier and a net profit of ₹1,746 Cr, down 28.1% in the Jun 2026 quarter.

Who owns Indus Towers?

Indus Towers is held by promoters 51.3%, foreign institutions 23.2%, domestic institutions 21.4%.

Does Indus Towers pay a dividend?

Yes. Indus Towers's dividend yield is 3.35% at the latest price; the last payout was ₹14.00 a share, ex-dividend 10 Aug 2026.

What do analysts say about Indus Towers?

23 analysts cover Indus Towers, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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