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Indus Towers share price & results

Indus Towers Limited· Telecommunication

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

India's largest telecom-tower operator, leasing shared passive infrastructure to mobile carriers across all 22 circles.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue8,431 ₹ crore+4.6% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin53.0 %−1.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit1,746 ₹ crore+0.5% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity19.83 %−13.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin23.96 %−20.5 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)6.72 %+2.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

5 of 7 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

Indus Towers Limited management guidance track record on Inve: 15 targets tracked across analysed earnings calls (5 achieved, 2 missed, 8 open).

TargetOriginal wordingSaidLatest callVerdict
Capex Allocation Mix70% growth oriented, 25% replacement/maintenance
Call transcript, Q4 FY26 · 1 May 2026		Q4 FY26Q1 FY27:Management did not provide a breakdown of total capex for the quarter to verify the guided 70/25 split between growth and maintenance. They only noted that maintenance capex doubled to ~INR 500 crores due to battery transition.
Call transcript, Q1 FY27 · 28 Jul 2026		Ghosted
High Maintenance Capex PeriodExpect 3 to 4 years of high maintenance capex
Call transcript, Q1 FY26 · 31 Jul 2025		Q1 FY26Q1 FY27:Maintenance capex doubled to ~INR 500 crores this quarter, driven by the strategic transition to lithium-ion batteries. Management stated this 'transition journey will continue for some time' before moderating, which aligns with the original guidance.
Call transcript, Q1 FY27 · 28 Jul 2026		On Track
Dividend DecisionRevisit decision at end of financial year
Call transcript, Q1 FY26 · 31 Jul 2025		Q1 FY26Q4 FY26:The Board has recommended a final dividend of INR 14 per share, distributing the full FY26 Free Cash Flow.
Call transcript, Q4 FY26 · 1 May 2026		Achieved

Source: Inve Guidance Tracker for Indus Towers Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

2 of Indus Towers Limited's 15 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.

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Price

₹389 +2.37% · +₹9

Last close 26 Oct 2026 · NSE · INR · Source: Inve

Performance +7.6% 1Y

₹400₹450Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 28 Oct 2025Q3 FY26 — 3 Feb 2026Q4 FY26 — 30 Apr 2026Q1 FY27 — 28 Jul 2026

1Y: ₹361.55 on 24 Oct 2025 → ₹389. High ₹477.75 (18 Feb 2026), low ₹360 (28 Sept 2026).

Previous close
₹380
Market cap
₹1.0L Cr
52-week range
₹360 – ₹477.75
One year
+4.77%
Price to earnings (TTM to Jun 2026)
14.32×
Return on equity (TTM to Jun 2026)
19.83%

Overview

Symbol
NSE:INDUSTOWER
Exchange
NSE
Currency
INR

What Indus Towers Limited does

Based on the company's own presentations, annual report and earnings calls.

Indus Towers deploys, owns and manages telecom towers and passive communication structures, which it leases to wireless operators on a shared basis. It earns rent under long-term Master Service Agreements where multiple carriers (tenants) co-locate their active equipment on the same tower, so returns rise with the average sharing/tenancy factor. Its customers are India's major mobile operators — Bharti Airtel, Bharti Hexacom, Vodafone Idea and Reliance Jio — and Bharti Airtel is its promoter and largest customer. The company operates across all 22 Indian telecom circles and has begun expanding into Africa.

Segments

  • Passive telecom infrastructure
Macro tower base
~264,500
Co-locations (tenancies)
~428,000
Geographic footprint
All 22 telecom circles of India
Average sharing / tenancy factor
1.62 tenants per tower
Solar-powered sites
42,400
Market position
India's largest tower infrastructure provider
Founded 2006Headquarters Building No. 10, Tower A, 4th Floor, DLF Cyber City, Gurugram, 122002, Haryana, India Company website

How the price took the results

close before → close after

Q1 FY27
−1.5%
28 Jul
Q4 FY26
−2.4%
1 May
Q3 FY26
+1.6%
3 Feb
Q2 FY26
+3.9%
28 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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