Indus Towers Ltd

NSE: INDUSTOWER BSE: 534816

₹380

-1.85 (0.48%)

Wed, 28 Oct 2026, 10:41 pm

MTF 5xInvest in Indus Towers Ltd with 5x Leverage Buy with MTF

Market Cap (in Cr)100232.33

PE Ratio14.01

Dividend3.68

Finance

Real Estate Development

24.5K

Indus Towers Balance Sheet

Income Statement Balance Sheet Cashflow

Particulars	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Interest expense on debt	-341.30M	-1.14B	-3.54B	-4.33B	-4.07B	-3.94B	-3.91B	-2.99B	-6.00M	-29.00M	-32.00M	-66.00M	-2.80B	-7.41B	-14.39B	-15.07B	-16.39B	-16.61B
Pretax equity in earnings	0	0	0	0	0	0	0	0	11.07B	11.95B	—	10.17B	—	—	0	0	0	0
Equity in earnings	0	0	0	0	0	0	0	0	0	11.95B	13.03B	—	13.80B	8.66B	0	0	0	0
Total assets	160.66B	207.28B	225.12B	232.89B	234.74B	278.88B	304.28B	294.02B	208.26B	209.41B	198.02B	172.65B	203.10B	484.75B	516.67B	504.96B	603.86B	631.70B
Total current assets	38.01B	28.06B	32.48B	33.10B	42.14B	86.02B	55.96B	57.35B	55.45B	48.76B	76.12B	42.80B	49.51B	96.30B	123.11B	87.08B	104.90B	129.30B
Cash and short term investments	33.41B	4.96B	10.76B	2.59B	3.84B	40.18B	40.12B	40.56B	47.74B	37.49B	65.39B	29.57B	38.85B	22.86B	26.32B	2.98B	631.00M	33.42B
Cash & equivalents	9.90M	577.00M	154.90M	125.30M	203.70M	858.00M	1.64B	287.00M	20.13B	22.50B	308.00M	3.00M	1.45B	145.00M	9.80B	224.00M	631.00M	3.56B
Short term investments	33.40B	4.39B	10.61B	2.47B	3.64B	39.32B	38.47B	40.27B	27.61B	14.99B	65.08B	29.56B	37.40B	22.71B	16.52B	2.76B	0	29.86B
Total receivables, net	4.60B	20.17B	16.92B	26.24B	32.50B	45.80B	15.14B	14.92B	5.87B	8.75B	8.66B	11.02B	8.08B	67.81B	94.85B	82.22B	101.08B	91.00B
Accounts receivable - trade, net	859.10M	4.05B	9.01B	6.99B	6.83B	15.02B	3.08B	3.53B	2.07B	6.74B	7.60B	10.20B	8.01B	67.34B	93.91B	80.75B	99.69B	85.45B
Other receivables	3.75B	16.12B	7.90B	19.26B	25.68B	30.78B	12.06B	11.39B	3.80B	2.01B	1.06B	818.00M	66.00M	467.00M	947.00M	1.47B	1.39B	5.55B
Total inventory	—	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	2.78B
Other current assets, total	400.00K	2.92B	4.80B	4.26B	5.79B	49.00M	689.00M	1.86B	-51.00M	9.00M	29.00M	27.00M	572.00M	2.66B	544.00M	636.00M	1.07B	1.90B
Total non-current assets	122.65B	179.22B	192.64B	199.80B	192.60B	192.86B	248.32B	236.67B	152.81B	160.65B	121.90B	129.85B	153.59B	388.46B	393.56B	417.89B	498.96B	502.40B
Long term investments	72.00M	522.90M	1.47B	2.03B	1.10B	1.29B	40.33B	31.57B	84.45B	96.75B	58.21B	69.52B	74.34B	216.00M	234.00M	255.00M	330.00M	238.00M
Note receivable - long term	72.00M	522.90M	1.47B	2.03B	1.10B	1.29B	0	0	0	0	—	—	—	—	—	—	—	—
Investments in unconsolidated subsidiaries	0	0	0	0	0	0	0	0	56.18B	55.51B	55.42B	51.09B	57.32B	0	0	0	0	0
Other investments	0	0	0	0	0	0	40.33B	31.57B	28.27B	41.24B	2.79B	18.44B	17.02B	216.00M	234.00M	255.00M	330.00M	238.00M
Net property/plant/equipment	119.41B	171.80B	179.17B	179.22B	168.86B	164.77B	154.57B	150.18B	61.28B	58.42B	56.95B	54.43B	67.57B	320.67B	319.72B	327.27B	397.28B	449.19B
Gross property/plant/equipment	—	—	—	—	—	268.02B	267.09B	274.24B	129.46B	135.97B	143.22B	148.60B	169.13B	667.69B	682.67B	707.02B	797.67B	882.17B
Deferred tax assets	6.30M	376.70M	212.10M	—	—	1.95B	1.60B	1.24B	1.23B	1.44B	1.77B	1.50B	6.89B	35.32B	37.00B	51.46B	55.94B	23.00M
Net intangible assets	0	39.80M	231.20M	327.00M	268.70M	192.00M	166.00M	202.00M	71.00M	131.00M	103.00M	71.00M	120.00M	73.00M	352.00M	231.00M	132.00M	380.00M
Goodwill, net	0	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	0
Other intangibles, net	0	—	—	—	—	192.00M	166.00M	202.00M	71.00M	131.00M	103.00M	71.00M	120.00M	73.00M	352.00M	231.00M	132.00M	380.00M
Other long term assets, total	3.16B	5.22B	9.13B	12.71B	15.82B	18.58B	30.31B	27.63B	5.74B	5.32B	4.83B	4.32B	4.67B	32.18B	36.26B	38.66B	45.24B	52.49B
Short term debt	1.09B	44.10B	4.45B	5.47B	11.12B	3.06B	7.58B	10.19B	0	2.79B	0	57.00M	26.60B	88.38B	52.64B	43.30B	52.06B	46.77B
Current portion of LT debt and capital leases	0	32.04B	1.20B	400.00K	3.41B	2.94B	6.59B	8.69B	6.30B	0	0	0	2.41B	33.73B	43.45B	35.90B	43.31B	37.95B
Short term debt excl. current portion of LT debt	1.09B	12.07B	3.25B	5.47B	7.70B	128.00M	992.00M	1.50B	0	2.79B	0	57.00M	24.18B	54.65B	9.19B	7.40B	8.75B	8.82B
Accounts payable	2.56B	919.50M	4.19B	2.21B	4.02B	7.13B	1.93B	1.42B	645.00M	11.21B	11.00B	10.99B	8.07B	32.62B	21.29B	21.22B	22.80B	24.45B
Income tax payable	—	—	—	—	—	1.74B	86.00M	306.00M	27.00M	142.00M	437.00M	148.00M	109.00M	1.32B	2.12B	666.00M	1.82B	1.32B
Long term debt	30.26B	13.77B	39.66B	37.17B	23.89B	32.30B	25.84B	15.66B	0	0	0	0	19.67B	127.38B	144.62B	148.55B	153.25B	164.79B
Long term debt excl. lease liabilities	30.26B	13.77B	39.66B	37.17B	23.89B	32.30B	25.84B	15.66B	0	0	0	0	19.67B	127.38B	144.62B	148.55B	153.25B	164.79B
Total equity	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Shareholders' equity	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Common equity, total	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Other common equity	82.38B	82.16B	82.88B	86.56B	91.85B	86.73B	71.67B	68.35B	76.09B	69.84B	67.99B	59.35B	58.78B	77.01B	76.12B	74.92B	73.91B	55.53B
Total debt	31.35B	57.87B	44.11B	42.64B	35.01B	35.36B	33.42B	25.85B	0	2.79B	0	57.00M	46.27B	215.76B	197.26B	191.85B	205.31B	211.56B
Net debt	—	—	—	—	—	-4.82B	-6.69B	-14.71B	-47.74B	-34.70B	-65.39B	-29.51B	7.42B	192.90B	170.94B	188.87B	204.68B	178.14B
Change in accounts receivable	-3.44B	-15.90B	2.93B	-1.34B	-490.70M	569.00M	677.00M	-211.00M	1.33B	-325.00M	82.00M	-2.60B	-1.87B	24.25B	-30.99B	-31.18B	-15.05B	67.70B
Change in taxes payable	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Change in accounts payable	2.37B	-1.69B	3.27B	-1.98B	1.81B	2.96B	-873.00M	-552.00M	-409.00M	1.05B	-167.00M	-64.00M	-1.26B	79.00M	-10.51B	-426.00M	1.86B	2.25B
Change in other assets/liabilities	-15.10M	9.26B	1.94B	6.71B	336.40M	3.62B	1.36B	-587.00M	153.00M	-1.74B	1.21B	10.00M	-2.24B	-7.90B	7.61B	-12.44B	2.75B	-5.47B
Sale of fixed assets & businesses	0	0	128.50M	310.70M	535.80M	658.00M	2.42B	2.64B	1.07B	1.03B	1.24B	1.26B	1.01B	1.67B	4.15B	4.54B	5.06B	5.27B
Purchase/sale of investments, net	-31.93B	29.29B	-1.03B	1.72B	-762.90M	-34.80B	-35.98B	8.77B	24.35B	4.97B	-13.04B	22.89B	-3.69B	32.90B	6.39B	13.82B	2.79B	-31.09B
Sale/maturity of investments	1.20B	146.81B	60.76B	102.64B	62.76B	130.40B	105.12B	142.67B	31.15B	202.50B	62.82B	102.54B	76.48B	131.27B	111.93B	208.86B	160.39B	305.00B
Purchase of investments	-33.13B	-117.52B	-61.79B	-100.92B	-63.53B	-165.20B	-141.10B	-133.91B	-6.81B	-197.53B	-75.85B	-79.65B	-80.17B	-98.37B	-105.53B	-195.04B	-157.60B	-336.08B
Other investing cash flow items, total	0	0	0	-7.80B	-5.36B	-9.83B	23.78B	-625.00M	-2.85B	62.00M	6.00M	6.00M	0	6.00M	-16.00M	-21.00M	-43.00M	0
Issuance/retirement of debt, net	31.35B	26.52B	18.27B	-1.47B	-7.63B	225.00M	-4.23B	-7.60B	0	0	-2.79B	0	23.85B	16.32B	-26.72B	-7.67B	-4.03B	-20.51B
Issuance/retirement of long term debt	30.26B	15.55B	27.09B	-3.69B	-9.87B	225.00M	-4.23B	-7.60B	0	0	0	0	0	0	0	0	0	0
Issuance/retirement of short term debt	1.09B	10.97B	-8.82B	2.22B	2.24B	—	0	0	0	0	-2.79B	0	0	0	0	0	0	0
Issuance/retirement of other debt	—	—	—	—	—	—	—	—	—	—	—	0	23.85B	16.32B	-26.72B	-7.67B	-4.03B	-20.51B
Total cash dividends paid	0	0	0	0	0	-4.36B	-5.67B	-21.75B	-14.84B	-6.68B	-35.60B	-47.93B	-30.99B	-59.85B	0	-29.64B	0	0
Other financing cash flow items, total	0	-120.20M	-459.80M	-15.30M	-73.00M	-1.36B	0	0	0	0	0	0	0	-37.65B	0	0	0	0

Particulars	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Interest expense on debt	-341.30M	-1.14B	-3.54B	-4.33B	-4.07B	-3.94B	-3.91B	-2.99B	-6.00M	-29.00M	-32.00M	-66.00M	-2.80B	-7.41B	-14.39B	-15.07B	-16.39B	-16.61B
Pretax equity in earnings	0	0	0	0	0	0	0	0	11.07B	11.95B	—	10.17B	—	—	0	0	0	0
Equity in earnings	0	0	0	0	0	0	0	0	0	11.95B	13.03B	—	13.80B	8.66B	0	0	0	0
Total assets	160.66B	207.28B	225.12B	232.89B	234.74B	278.88B	304.28B	294.02B	208.26B	209.41B	198.02B	172.65B	203.10B	484.75B	516.67B	504.96B	603.86B	631.70B
Total current assets	38.01B	28.06B	32.48B	33.10B	42.14B	86.02B	55.96B	57.35B	55.45B	48.76B	76.12B	42.80B	49.51B	96.30B	123.11B	87.08B	104.90B	129.30B
Cash and short term investments	33.41B	4.96B	10.76B	2.59B	3.84B	40.18B	40.12B	40.56B	47.74B	37.49B	65.39B	29.57B	38.85B	22.86B	26.32B	2.98B	631.00M	33.42B
Cash & equivalents	9.90M	577.00M	154.90M	125.30M	203.70M	858.00M	1.64B	287.00M	20.13B	22.50B	308.00M	3.00M	1.45B	145.00M	9.80B	224.00M	631.00M	3.56B
Short term investments	33.40B	4.39B	10.61B	2.47B	3.64B	39.32B	38.47B	40.27B	27.61B	14.99B	65.08B	29.56B	37.40B	22.71B	16.52B	2.76B	0	29.86B
Total receivables, net	4.60B	20.17B	16.92B	26.24B	32.50B	45.80B	15.14B	14.92B	5.87B	8.75B	8.66B	11.02B	8.08B	67.81B	94.85B	82.22B	101.08B	91.00B
Accounts receivable - trade, net	859.10M	4.05B	9.01B	6.99B	6.83B	15.02B	3.08B	3.53B	2.07B	6.74B	7.60B	10.20B	8.01B	67.34B	93.91B	80.75B	99.69B	85.45B
Other receivables	3.75B	16.12B	7.90B	19.26B	25.68B	30.78B	12.06B	11.39B	3.80B	2.01B	1.06B	818.00M	66.00M	467.00M	947.00M	1.47B	1.39B	5.55B
Total inventory	—	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	2.78B
Other current assets, total	400.00K	2.92B	4.80B	4.26B	5.79B	49.00M	689.00M	1.86B	-51.00M	9.00M	29.00M	27.00M	572.00M	2.66B	544.00M	636.00M	1.07B	1.90B
Total non-current assets	122.65B	179.22B	192.64B	199.80B	192.60B	192.86B	248.32B	236.67B	152.81B	160.65B	121.90B	129.85B	153.59B	388.46B	393.56B	417.89B	498.96B	502.40B
Long term investments	72.00M	522.90M	1.47B	2.03B	1.10B	1.29B	40.33B	31.57B	84.45B	96.75B	58.21B	69.52B	74.34B	216.00M	234.00M	255.00M	330.00M	238.00M
Note receivable - long term	72.00M	522.90M	1.47B	2.03B	1.10B	1.29B	0	0	0	0	—	—	—	—	—	—	—	—
Investments in unconsolidated subsidiaries	0	0	0	0	0	0	0	0	56.18B	55.51B	55.42B	51.09B	57.32B	0	0	0	0	0
Other investments	0	0	0	0	0	0	40.33B	31.57B	28.27B	41.24B	2.79B	18.44B	17.02B	216.00M	234.00M	255.00M	330.00M	238.00M
Net property/plant/equipment	119.41B	171.80B	179.17B	179.22B	168.86B	164.77B	154.57B	150.18B	61.28B	58.42B	56.95B	54.43B	67.57B	320.67B	319.72B	327.27B	397.28B	449.19B
Gross property/plant/equipment	—	—	—	—	—	268.02B	267.09B	274.24B	129.46B	135.97B	143.22B	148.60B	169.13B	667.69B	682.67B	707.02B	797.67B	882.17B
Deferred tax assets	6.30M	376.70M	212.10M	—	—	1.95B	1.60B	1.24B	1.23B	1.44B	1.77B	1.50B	6.89B	35.32B	37.00B	51.46B	55.94B	23.00M
Net intangible assets	0	39.80M	231.20M	327.00M	268.70M	192.00M	166.00M	202.00M	71.00M	131.00M	103.00M	71.00M	120.00M	73.00M	352.00M	231.00M	132.00M	380.00M
Goodwill, net	0	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	0
Other intangibles, net	0	—	—	—	—	192.00M	166.00M	202.00M	71.00M	131.00M	103.00M	71.00M	120.00M	73.00M	352.00M	231.00M	132.00M	380.00M
Other long term assets, total	3.16B	5.22B	9.13B	12.71B	15.82B	18.58B	30.31B	27.63B	5.74B	5.32B	4.83B	4.32B	4.67B	32.18B	36.26B	38.66B	45.24B	52.49B
Short term debt	1.09B	44.10B	4.45B	5.47B	11.12B	3.06B	7.58B	10.19B	0	2.79B	0	57.00M	26.60B	88.38B	52.64B	43.30B	52.06B	46.77B
Current portion of LT debt and capital leases	0	32.04B	1.20B	400.00K	3.41B	2.94B	6.59B	8.69B	6.30B	0	0	0	2.41B	33.73B	43.45B	35.90B	43.31B	37.95B
Short term debt excl. current portion of LT debt	1.09B	12.07B	3.25B	5.47B	7.70B	128.00M	992.00M	1.50B	0	2.79B	0	57.00M	24.18B	54.65B	9.19B	7.40B	8.75B	8.82B
Accounts payable	2.56B	919.50M	4.19B	2.21B	4.02B	7.13B	1.93B	1.42B	645.00M	11.21B	11.00B	10.99B	8.07B	32.62B	21.29B	21.22B	22.80B	24.45B
Income tax payable	—	—	—	—	—	1.74B	86.00M	306.00M	27.00M	142.00M	437.00M	148.00M	109.00M	1.32B	2.12B	666.00M	1.82B	1.32B
Long term debt	30.26B	13.77B	39.66B	37.17B	23.89B	32.30B	25.84B	15.66B	0	0	0	0	19.67B	127.38B	144.62B	148.55B	153.25B	164.79B
Long term debt excl. lease liabilities	30.26B	13.77B	39.66B	37.17B	23.89B	32.30B	25.84B	15.66B	0	0	0	0	19.67B	127.38B	144.62B	148.55B	153.25B	164.79B
Total equity	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Shareholders' equity	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Common equity, total	102.55B	103.52B	136.28B	139.95B	145.24B	171.93B	180.38B	170.20B	182.42B	154.99B	169.64B	145.32B	135.42B	158.77B	221.50B	211.09B	270.39B	324.98B
Other common equity	82.38B	82.16B	82.88B	86.56B	91.85B	86.73B	71.67B	68.35B	76.09B	69.84B	67.99B	59.35B	58.78B	77.01B	76.12B	74.92B	73.91B	55.53B
Total debt	31.35B	57.87B	44.11B	42.64B	35.01B	35.36B	33.42B	25.85B	0	2.79B	0	57.00M	46.27B	215.76B	197.26B	191.85B	205.31B	211.56B
Net debt	—	—	—	—	—	-4.82B	-6.69B	-14.71B	-47.74B	-34.70B	-65.39B	-29.51B	7.42B	192.90B	170.94B	188.87B	204.68B	178.14B
Change in accounts receivable	-3.44B	-15.90B	2.93B	-1.34B	-490.70M	569.00M	677.00M	-211.00M	1.33B	-325.00M	82.00M	-2.60B	-1.87B	24.25B	-30.99B	-31.18B	-15.05B	67.70B
Change in taxes payable	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Change in accounts payable	2.37B	-1.69B	3.27B	-1.98B	1.81B	2.96B	-873.00M	-552.00M	-409.00M	1.05B	-167.00M	-64.00M	-1.26B	79.00M	-10.51B	-426.00M	1.86B	2.25B
Change in other assets/liabilities	-15.10M	9.26B	1.94B	6.71B	336.40M	3.62B	1.36B	-587.00M	153.00M	-1.74B	1.21B	10.00M	-2.24B	-7.90B	7.61B	-12.44B	2.75B	-5.47B
Sale of fixed assets & businesses	0	0	128.50M	310.70M	535.80M	658.00M	2.42B	2.64B	1.07B	1.03B	1.24B	1.26B	1.01B	1.67B	4.15B	4.54B	5.06B	5.27B
Purchase/sale of investments, net	-31.93B	29.29B	-1.03B	1.72B	-762.90M	-34.80B	-35.98B	8.77B	24.35B	4.97B	-13.04B	22.89B	-3.69B	32.90B	6.39B	13.82B	2.79B	-31.09B
Sale/maturity of investments	1.20B	146.81B	60.76B	102.64B	62.76B	130.40B	105.12B	142.67B	31.15B	202.50B	62.82B	102.54B	76.48B	131.27B	111.93B	208.86B	160.39B	305.00B
Purchase of investments	-33.13B	-117.52B	-61.79B	-100.92B	-63.53B	-165.20B	-141.10B	-133.91B	-6.81B	-197.53B	-75.85B	-79.65B	-80.17B	-98.37B	-105.53B	-195.04B	-157.60B	-336.08B
Other investing cash flow items, total	0	0	0	-7.80B	-5.36B	-9.83B	23.78B	-625.00M	-2.85B	62.00M	6.00M	6.00M	0	6.00M	-16.00M	-21.00M	-43.00M	0
Issuance/retirement of debt, net	31.35B	26.52B	18.27B	-1.47B	-7.63B	225.00M	-4.23B	-7.60B	0	0	-2.79B	0	23.85B	16.32B	-26.72B	-7.67B	-4.03B	-20.51B
Issuance/retirement of long term debt	30.26B	15.55B	27.09B	-3.69B	-9.87B	225.00M	-4.23B	-7.60B	0	0	0	0	0	0	0	0	0	0
Issuance/retirement of short term debt	1.09B	10.97B	-8.82B	2.22B	2.24B	—	0	0	0	0	-2.79B	0	0	0	0	0	0	0
Issuance/retirement of other debt	—	—	—	—	—	—	—	—	—	—	—	0	23.85B	16.32B	-26.72B	-7.67B	-4.03B	-20.51B
Total cash dividends paid	0	0	0	0	0	-4.36B	-5.67B	-21.75B	-14.84B	-6.68B	-35.60B	-47.93B	-30.99B	-59.85B	0	-29.64B	0	0
Other financing cash flow items, total	0	-120.20M	-459.80M	-15.30M	-73.00M	-1.36B	0	0	0	0	0	0	0	-37.65B	0	0	0	0