Indus Towers Ltd

Indus Towers Ltd

₹ 341 0.37%
14 Jun - 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

Business Overview
Indus Towers is a provider of tower and related infrastructure sharing services. It is one of the largest telecom tower companies in India based on the number of towers and co-locations operated by the Company. It provides access to its towers, primarily to wireless telecommunication service providers, on a shared basis under long-term contracts. [1]

  • Market Cap 91,830 Cr.
  • Current Price 341
  • High / Low 370 / 157
  • Stock P/E 15.2
  • Book Value 100
  • Dividend Yield 0.00 %
  • ROCE 20.2 %
  • ROE 25.1 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 21.8% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost
  • Promoters have pledged 30.5% of their holding.

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
6,492 6,797 6,876 6,927 7,116 6,897 7,967 6,765 6,753 7,076 7,132 7,199 7,193
3,080 3,280 3,256 3,229 3,054 4,635 5,155 5,602 3,320 3,596 3,711 3,615 3,122
Operating Profit 3,412 3,517 3,620 3,699 4,062 2,262 2,811 1,163 3,433 3,480 3,422 3,584 4,072
OPM % 53% 52% 53% 53% 57% 33% 35% 17% 51% 49% 48% 50% 57%
77 57 93 94 109 92 63 -403 116 56 97 99 108
Interest 362 377 364 379 375 372 392 354 336 352 246 11 127
Depreciation 1,332 1,320 1,316 1,324 1,365 1,339 1,307 1,358 1,320 1,374 1,526 1,596 1,564
Profit before tax 1,796 1,877 2,033 2,089 2,431 643 1,175 -952 1,893 1,810 1,747 2,076 2,489
Tax % 24% 25% 23% 25% 25% 26% 26% 26% 26% 26% 26% 26% 26%
1,364 1,415 1,558 1,571 1,828 477 872 -708 1,399 1,348 1,295 1,540 1,853
EPS in Rs 5.06 5.25 5.78 5.83 6.78 1.77 3.23 -2.63 5.19 5.00 4.80 5.72 6.88
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
10,272 10,827 11,668 5,558 6,085 6,621 6,826 6,743 13,954 27,717 28,382 28,601
6,465 6,427 6,664 3,070 3,260 3,464 3,714 3,185 6,775 12,816 18,713 14,044
Operating Profit 3,807 4,400 5,004 2,488 2,825 3,157 3,112 3,558 7,179 14,901 9,669 14,557
OPM % 37% 41% 43% 45% 46% 48% 46% 53% 51% 54% 34% 51%
338 449 522 1,679 1,960 1,599 1,559 1,846 1,262 458 85 361
Interest 394 400 290 33 39 46 53 335 836 1,603 1,670 735
Depreciation 2,220 2,126 2,185 1,155 1,166 1,180 1,066 1,282 2,848 5,325 5,324 6,060
Profit before tax 1,531 2,323 3,052 2,979 3,580 3,529 3,553 3,788 4,757 8,431 2,759 8,122
Tax % 35% 35% 35% 25% 23% 29% 30% 13% 21% 24% 26% 26%
1,002 1,518 1,992 2,247 2,747 2,494 2,494 3,299 3,779 6,373 2,040 6,036
EPS in Rs 5.31 8.03 10.52 11.85 14.85 13.48 13.48 17.83 14.02 23.65 7.57 22.40
Dividend Payout % 104% 55% 105% 25% 108% 104% 111% 59% 143% 47% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 33%
3 Years: 27%
TTM: 1%
Compounded Profit Growth
10 Years: 16%
5 Years: 22%
3 Years: 19%
TTM: 187%
Stock Price CAGR
10 Years: 3%
5 Years: 5%
3 Years: 11%
1 Year: 108%
Return on Equity
10 Years: 18%
5 Years: 22%
3 Years: 22%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1,889 1,889 1,894 1,897 1,850 1,850 1,850 1,850 2,695 2,695 2,695 2,695
Reserves 15,304 16,149 15,126 16,345 13,650 15,115 12,682 11,693 13,182 19,456 18,415 24,344
3,523 3,342 2,582 0 278 0 6 4,627 21,576 19,726 19,185 20,531
6,977 7,255 7,552 2,461 5,163 2,661 2,577 1,584 7,491 6,091 6,278 8,298
Total Liabilities 27,693 28,636 27,155 20,703 20,941 19,625 17,115 19,754 44,944 47,968 46,572 55,868
16,324 15,320 14,812 6,063 5,794 5,595 5,332 6,714 31,800 31,826 32,384 39,300
CWIP 172 153 226 70 58 110 118 54 274 179 355 422
Investments 3,891 7,480 5,882 10,059 11,172 12,327 9,906 11,170 2,271 1,652 276 3
7,306 5,682 6,234 4,511 3,916 1,593 1,759 1,815 10,598 14,311 13,559 16,143
Total Assets 27,693 28,636 27,155 20,703 20,941 19,625 17,115 19,754 44,944 47,968 46,572 55,868

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,651 3,952 3,990 1,912 2,866 3,469 3,159 2,315 7,481 9,121 7,905 11,582
-5,794 -2,340 -937 1,548 -237 -1,855 1,600 -1,012 1,798 -2,174 -1,730 -7,546
2,223 -1,500 -3,188 -1,453 -2,671 -3,555 -4,795 -1,185 -9,377 -5,982 -7,133 -3,996
Net Cash Flow 80 112 -136 2,007 -42 -1,940 -36 118 -98 966 -958 41

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 30 10 11 13 18 15 29 20 100 93 63 82
Inventory Days
Days Payable
Cash Conversion Cycle 30 10 11 13 18 15 29 20 100 93 63 82
Working Capital Days 18 -85 -101 -42 -190 -41 -24 -5 27 52 39 70
ROCE % 10% 12% 15% 14% 18% 23% 21% 23% 19% 25% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.85% 69.85% 69.85% 67.49% 68.81% 68.99% 68.99% 68.99% 68.99% 68.99% 68.99% 68.99%
26.76% 26.83% 26.08% 28.23% 26.62% 26.50% 26.60% 26.62% 23.94% 21.41% 20.71% 16.40%
2.65% 2.62% 3.16% 2.93% 2.96% 2.92% 2.87% 2.47% 4.51% 6.69% 7.08% 9.90%
0.72% 0.68% 0.88% 1.33% 1.59% 1.57% 1.50% 1.89% 2.53% 2.90% 3.18% 4.68%
0.02% 0.02% 0.03% 0.02% 0.02% 0.02% 0.01% 0.03% 0.02% 0.01% 0.04% 0.04%
No. of Shareholders 1,10,9431,17,8961,53,7081,97,7822,07,6072,33,2762,30,2422,58,9972,71,6792,64,6742,67,1083,10,694

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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