Fundamentals scanner
Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
Indus Towers
Communication ServicesBullish- Market cap
- ₹1,01,361 Cr
- P/E
- 14.2x
- ROE
- 18.9%
- Debt / equity
- 0.52
What the company does
Indus Towers Limited, a telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia. It offers ground base towers, smart poles, and rooftop tower; and energy supply to telecom equipment, as well as engages in site acquisition from state governments, military, establishments, educational institutions, municipalities, households, transportation authorities, and private enterprises. The company also provides smart digital infrastructure, which includes smart poles LED lights, CCTV cameras, variable digital messaging board, environment sensors, and city public Wi-Fi services, including fiber backbone. In addition, it offers grid energy, diesel, and renewable energy and energy storage; small cells, FTTH, and one web; in-building solutions; and other projects. 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 based in Gurugram, India. Indus Towers Limited operates as a subsidiary of Bharti Airtel Limited.
Valuation — what you are paying
How the price compares to earnings, assets and cash generation.
- P/E (trailing)14.2xStrong
You are paying 14.2 years of current profit for each share. The earnings yield is 7.1%.
- P/B (price to book)2.4xStrong
The market values the company at 2.4× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
- EV / EBITDA7.7xStrong
This is the only common multiple that accounts for debt — it is what an actual acquirer would look at, because they would inherit the borrowings.
- Dividend yield3.64%Strong
Pays 3.64% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Profitability — is this a good business?
Returns on capital and margins, the numerical shadow of a moat.
- Return on equity18.9%Strong
Earns ₹18.9 of profit a year for every ₹100 of shareholders' money. Always check how much of this comes from leverage rather than the business.
- Return on assets9.7%Fair
ROE and ROA are reasonably close, so the returns come largely from the business itself rather than from borrowing.
- Operating margin31.2%Strong
Keeps ₹31.2 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
- Net margin21.8%Strong
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Financial strength — can it survive a bad year?
Leverage and liquidity. This is where fragility shows up first.
- Debt to equity0.52Fair
A conservative balance sheet that can absorb a downturn without a crisis.
- Current ratio1.84Strong
Short-term obligations are comfortably covered by short-term assets.
- Total debt₹21432.40 CrNo data
Against cash of ₹7355.80 Cr. Net debt is what matters, not gross borrowings.
- Free cash flow₹3776.82 CrStrong
Generates cash after paying for the capital spending needed to keep running. This is the money genuinely available to owners.
Growth — is it getting bigger?
Revenue and earnings momentum, and how the two compare.
- Revenue growth (yoy)+4.6%Weak
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
- Earnings growth (yoy)+0.6%Fair
Profits are growing slower than sales, meaning margins are compressing. The company may be buying its growth.
- Revenue (TTM)₹32866.60 CrNo data
EBITDA of ₹15025.50 Cr and operating cash flow of ₹15512.90 Cr.
- PEG ratio—No data
Not available.
Financial statements
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹32493.10 Cr | ₹30122.80 Cr | ₹28600.60 Cr | ₹28381.80 Cr |
| Cost of revenue | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Gross profit | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating expenses | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating income | — | — | — | — |
| Interest expense | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Net profit | ₹7144.90 Cr | ₹9931.70 Cr | ₹6036.20 Cr | ₹2040.00 Cr |