Indus Towers Ltd

₹ 196 -1.41%
07 Dec - close price
About

Indus Towers Limited is engaged in the business of object of, inter-alia, setting up, operating and maintaining wireless communication towers.[1]

Key Points

Leadership Position
The Co. has a tower market share of 33% and tenancy market share of 42% which makes it leader in the telecom tower industry in India. [1]

  • Market Cap 52,740 Cr.
  • Current Price 196
  • High / Low 282 / 181
  • Stock P/E 11.1
  • Book Value 76.0
  • Dividend Yield 5.62 %
  • ROCE 24.6 %
  • ROE 32.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 21.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.8%
  • Company has been maintaining a healthy dividend payout of 83.0%

Cons

  • Company might be capitalizing the interest cost
  • Promoters have pledged 30.5% of their holding.
  • Debtor days have increased from 71.0 to 93.0 days.

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,668 1,667 1,682 1,635 1,766 4,061 6,492 6,797 6,876 6,927 7,116 6,897 7,967
763 801 819 803 859 2,033 3,080 3,280 3,256 3,229 3,054 4,635 5,155
Operating Profit 906 866 863 833 907 2,027 3,412 3,517 3,620 3,699 4,062 2,262 2,811
OPM % 54% 52% 51% 51% 51% 50% 53% 52% 53% 53% 57% 33% 35%
507 402 283 318 310 357 77 57 93 94 109 92 63
Interest -4 20 16 14 29 233 362 377 364 379 375 372 392
Depreciation 313 310 346 298 305 913 1,332 1,320 1,316 1,324 1,365 1,339 1,307
Profit before tax 1,103 939 784 839 884 1,238 1,796 1,877 2,033 2,089 2,431 643 1,175
Tax % 13% 15% 17% 16% 17% 21% 24% 25% 23% 25% 25% 26% 26%
Net Profit 964 799 650 704 733 979 1,364 1,415 1,558 1,571 1,828 477 872
EPS in Rs 5.21 4.32 3.51 3.80 3.96 3.63 5.06 5.25 5.78 5.83 6.78 1.77 3.23
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
8,508 9,452 10,272 10,827 11,668 5,558 6,085 6,621 6,826 6,743 13,954 27,717 28,908
5,402 5,913 6,465 6,427 6,664 3,070 3,260 3,464 3,714 3,185 6,775 12,816 16,074
Operating Profit 3,106 3,540 3,807 4,400 5,004 2,488 2,825 3,157 3,112 3,558 7,179 14,901 12,834
OPM % 37% 37% 37% 41% 43% 45% 46% 48% 46% 53% 51% 54% 44%
140 140 338 449 522 1,679 1,960 1,599 1,559 1,846 1,262 458 358
Interest 433 407 394 400 290 33 39 46 53 335 836 1,603 1,518
Depreciation 2,019 2,144 2,220 2,126 2,185 1,155 1,166 1,180 1,066 1,282 2,848 5,325 5,335
Profit before tax 795 1,128 1,531 2,323 3,052 2,979 3,580 3,529 3,553 3,788 4,757 8,431 6,338
Tax % 31% 34% 35% 35% 35% 25% 23% 29% 30% 13% 21% 24%
Net Profit 551 749 1,002 1,518 1,992 2,247 2,747 2,494 2,494 3,299 3,779 6,373 4,748
EPS in Rs 5.31 8.03 10.52 11.85 14.85 13.48 13.48 17.83 14.02 23.65 17.61
Dividend Payout % 0% 0% 104% 55% 105% 25% 108% 104% 111% 59% 143% 47%
Compounded Sales Growth
10 Years: 11%
5 Years: 35%
3 Years: 60%
TTM: 19%
Compounded Profit Growth
10 Years: 24%
5 Years: 21%
3 Years: 40%
TTM: -11%
Stock Price CAGR
10 Years: %
5 Years: -12%
3 Years: -9%
1 Year: -28%
Return on Equity
10 Years: 16%
5 Years: 22%
3 Years: 27%
Last Year: 32%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
581 581 1,889 1,889 1,894 1,897 1,850 1,850 1,850 1,850 2,695 2,695 2,695
Reserves 13,414 13,943 15,304 16,149 15,126 16,401 13,650 15,115 12,682 11,693 13,182 19,456 17,780
4,264 3,159 3,523 3,342 2,582 0 278 0 6 4,627 21,576 19,726 20,292
5,031 5,783 6,977 7,255 7,552 2,405 5,163 2,661 2,577 1,584 7,491 6,091 6,269
Total Liabilities 23,289 23,467 27,693 28,636 27,155 20,703 20,941 19,625 17,115 19,754 44,944 47,968 47,036
17,667 16,720 16,324 15,320 14,812 6,063 5,794 5,595 5,332 6,714 31,800 31,826 31,507
CWIP 288 186 172 153 226 70 58 110 118 54 274 179 220
Investments 246 336 3,891 7,480 5,882 10,059 11,172 12,327 9,906 11,170 2,271 1,652 0
5,089 6,225 7,306 5,682 6,234 4,511 3,916 1,593 1,759 1,815 10,598 14,311 15,310
Total Assets 23,289 23,467 27,693 28,636 27,155 20,703 20,941 19,625 17,115 19,754 44,944 47,968 47,036

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
2,872 3,199 3,651 3,952 3,990 1,912 2,866 3,469 3,159 2,315 7,481 9,121
-2,971 -2,014 -5,794 -2,340 -937 1,548 -237 -1,855 1,600 -1,012 1,798 -2,174
-570 -1,151 2,223 -1,500 -3,188 -1,453 -2,671 -3,555 -4,795 -1,185 -9,377 -5,982
Net Cash Flow -669 34 80 112 -136 2,007 -42 -1,940 -36 118 -98 966

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 30 26 30 10 11 13 18 15 29 20 100 93
Inventory Days
Days Payable
Cash Conversion Cycle 30 26 30 10 11 13 18 15 29 20 100 93
Working Capital Days 38 44 18 -85 -101 -42 -190 -41 -24 -5 27 52
ROCE % 7% 8% 10% 12% 15% 14% 18% 23% 21% 23% 19% 25%

Shareholding Pattern

Numbers in percentages

5 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
53.51 53.51 53.51 53.51 69.85 69.85 69.85 69.85 69.85 67.49 68.81 68.99
43.23 42.03 40.61 40.89 26.63 27.08 26.76 26.83 26.08 28.23 26.62 26.50
2.59 3.58 4.89 4.32 2.78 2.43 2.65 2.62 3.16 2.93 2.96 2.92
0.64 0.83 0.98 1.28 0.73 0.64 0.72 0.68 0.88 1.33 1.59 1.57
0.03 0.04 0.01 0.00 0.01 0.01 0.02 0.02 0.03 0.02 0.02 0.02

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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Documents

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