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Indus Towers

₹333 5.2 | 1.6%

Market Cap ₹89741 Cr.

Stock P/E 14.9

P/B 3.3

Current Price ₹333

Book Value ₹ 100.3

Face Value 10

52W High ₹366.5

Dividend Yield 0%

52W Low ₹ 141.7

Indus Towers Research see more...

Overview Inc. Year: 2006Industry: Telecommunication - Service Provider

Indus Towers Limited, previously known as Bharti Infratel Limited, is an India-based telecom tower company. The Company offers tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various cellular operators. The Company's consolidated portfolio consists of approximately 172,094 telecom towers, which includes 314,106 of its very own towers and is covering 22 telecom circles in India. The offerings provided by means of the Company comprises tower, electricity, space, smart cities and green technology.

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Indus Towers Share Price

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Indus Towers Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 6927 7116 6897 7967 6765 6753 7076 7133 7199 7193
Other Income 113 133 112 86 184 196 133 309 602 445
Total Income 7040 7249 7009 8052 6949 6949 7209 7442 7801 7639
Total Expenditure 3229 3054 4635 5155 5602 3320 3596 3711 3615 3122
Operating Profit 3811 4195 2374 2897 1347 3629 3613 3731 4186 4517
Interest 398 399 391 415 448 416 428 459 514 464
Depreciation 1324 1365 1339 1307 1358 1320 1374 1526 1596 1565
Exceptional Income / Expenses 0 0 0 0 -493 0 0 0 0 0
Profit Before Tax 2089 2431 643 1175 -952 1893 1810 1747 2077 2489
Provision for Tax 518 603 166 303 -244 494 462 452 536 636
Profit After Tax 1571 1829 477 872 -708 1399 1348 1295 1541 1853
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1571 1829 477 872 -708 1399 1348 1295 1541 1853
Adjusted Earnings Per Share 5.8 6.8 1.8 3.2 -2.6 5.2 5 4.8 5.7 6.9

Indus Towers Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 10272 10827 11668 5558 6085 6621 6826 6743 13954 27717 28382 28601
Other Income 338 452 528 641 765 481 636 466 442 576 578 1489
Total Income 10610 11279 12196 6199 6849 7102 7462 7209 14397 28293 28960 30091
Total Expenditure 6467 6430 6670 3139 3260 3623 3808 3185 6821 12934 18713 14044
Operating Profit 4143 4849 5526 3060 3590 3479 3654 4024 7575 15359 10246 16047
Interest 395 400 290 33 39 47 53 335 836 1603 1670 1865
Depreciation 2220 2126 2185 1155 1166 1180 1066 1282 2848 5325 5324 6061
Exceptional Income / Expenses 2 0 0 0 0 -26 0 0 0 0 -493 0
Profit Before Tax 1531 2323 3052 2979 3580 3529 3553 3788 4757 8431 2759 8123
Provision for Tax 528 805 1059 732 833 1036 1059 489 978 2058 719 2086
Profit After Tax 1003 1518 1992 2247 2747 2494 2494 3299 3779 6373 2040 6037
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1003 1518 1992 2247 2747 2494 2494 3299 3779 6373 2040 6037
Adjusted Earnings Per Share 5.3 8 10.5 11.8 14.9 13.5 13.5 17.8 14 23.6 7.6 22.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 61% 34% 11%
Operating Profit CAGR -33% 37% 24% 9%
PAT CAGR -68% -15% -4% 7%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 118% 9% 5% 4%
ROE Average 9% 23% 22% 16%
ROCE Average 17% 28% 27% 21%

Indus Towers Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 17193 18038 17020 18242 15499 16964 14532 13542 15877 22151 21110
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3230 2584 1566 0 0 0 0 0 1505 2374 2434
Other Non-Current Liabilities 3912 5431 5622 1045 868 845 808 2252 13611 14616 13644
Total Current Liabilities 4072 4215 5069 3497 4574 1816 1775 3826 13951 8827 8163
Total Liabilities 28406 30268 29278 22783 20941 19625 17115 19621 44944 47968 45351
Fixed Assets 16324 15321 14812 6063 5794 5595 5332 6714 31800 31826 32384
Other Non-Current Assets 3472 9351 8731 8868 10271 6419 7502 7955 3514 3830 4259
Total Current Assets 8611 5596 5735 7852 4876 7612 4280 4951 9630 12311 8708
Total Assets 28406 30268 29278 22783 20941 19625 17115 19621 44944 47968 45351

Indus Towers Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 47 52 164 6 2013 1971 31 -5 112 14 980
Cash Flow from Operating Activities 3651 3952 3990 1912 2866 3469 3159 2315 7481 9121 7905
Cash Flow from Investing Activities -5869 -2348 -937 1548 -237 -1855 1600 -1012 1798 -2174 -1730
Cash Flow from Financing Activities 2223 -1501 -3188 -1453 -2671 -3555 -4795 -1185 -9377 -5982 -7133
Net Cash Inflow / Outflow 5 104 -136 2007 -42 -1941 -36 118 -98 966 -958
Closing Cash & Cash Equivalent 52 164 29 2013 1971 31 -5 112 14 980 22

Indus Towers Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 5.31 8.03 10.52 11.85 14.85 13.48 13.48 17.83 14.02 23.65 7.57
CEPS(Rs) 17.06 19.29 22.06 17.94 21.15 19.86 19.25 24.76 24.59 43.41 27.33
DPS(Rs) 5.5 4.4 11 3 16 14 15 10.5 20.12 11 0
Book NAV/Share(Rs) 90.32 94.79 89.56 96.11 83.77 91.68 78.53 73.19 58.9 82.16 78.29
Core EBITDA Margin(%) 37.04 40.61 42.84 43.53 46.43 45.29 44.22 52.76 51.12 53.34 34.07
EBIT Margin(%) 18.74 25.15 28.64 54.19 59.48 54 52.82 61.14 40.08 36.2 15.61
Pre Tax Margin(%) 14.9 21.46 26.15 53.6 58.83 53.3 52.05 56.17 34.09 30.42 9.72
PAT Margin (%) 9.76 14.02 17.08 40.43 45.15 37.66 36.53 48.92 27.08 22.99 7.19
Cash Profit Margin (%) 31.37 33.66 35.8 61.21 64.3 55.49 52.15 67.93 47.49 42.21 25.95
ROA(%) 3.87 5.17 6.69 8.63 12.57 12.29 13.58 17.96 11.71 13.72 4.37
ROE(%) 6.38 8.68 11.43 12.77 16.29 15.37 15.84 23.51 25.7 33.53 9.44
ROCE(%) 9.94 12.94 16.31 15.92 21.28 21.84 22.89 27.03 27.97 38.83 16.57
Receivable days 27.32 19.6 10.33 18.02 14.86 15.84 22.07 24.85 54.87 71.68 76.69
Inventory Days 0 0 0 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 33.34 25.35 36.58 32.26 21.91 24.94 23.25 8.98 17.49 9.39 18.9
Price/Book(x) 1.96 2.15 4.3 3.98 3.89 3.67 3.99 2.19 4.16 2.7 1.83
Dividend Yield(%) 3.11 2.16 2.86 0.78 4.92 4.16 4.79 6.56 8.2 4.95 0
EV/Net Sales(x) 3.58 3.85 6.39 12.47 9.57 9.39 8.49 4.73 5.32 2.32 1.52
EV/Core EBITDA(x) 8.89 8.59 13.49 22.66 16.22 17.87 15.87 7.92 9.8 4.19 4.22
Net Sales Growth(%) 8.67 5.4 7.77 -52.36 9.47 8.82 3.1 -1.22 106.94 98.63 2.4
EBIT Growth(%) 25.38 41.43 22.73 -9.86 20.15 -1.2 0.84 14.34 35.68 79.39 -55.85
PAT Growth(%) 33.83 51.41 31.26 12.8 22.23 -9.22 0 32.28 14.56 68.65 -67.99
EPS Growth(%) 23.46 51.36 30.95 12.63 25.34 -9.22 0 32.28 -21.37 68.64 -67.99
Debt/Equity(x) 0.21 0.19 0.15 0 0.02 0 0 0.18 0.51 0.25 0.22
Current Ratio(x) 2.11 1.33 1.13 2.25 1.07 4.19 2.41 1.29 0.69 1.39 1.07
Quick Ratio(x) 2.12 1.33 1.13 2.25 1.07 4.19 2.43 1.29 0.69 1.39 1.07
Interest Cover(x) 4.88 6.81 11.52 91.28 91.86 76.9 68.16 12.31 6.69 6.26 2.65
Total Debt/Mcap(x) 0.11 0.09 0.04 0 0 0 0 0.08 0.12 0.09 0.12

Indus Towers Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 69.85 67.49 68.81 69 69 69 69 69 69 69
FII 26.08 28.23 26.62 26.5 26.6 26.63 23.93 21.41 20.71 16.4
DII 3.16 2.93 2.96 2.92 2.88 2.46 4.52 6.7 7.08 9.89
Public 0.91 1.35 1.61 1.58 1.52 1.92 2.55 2.9 3.21 4.71
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Company is almost debt free.

Cons

  • Stock is trading at 3.3 times its book value.
  • The company has delivered a poor profit growth of -3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Indus Towers News

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