Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Indus Towers Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 6,753 | 7,076 | 7,132 | 7,199 | 7,193 | 7,383 | 7,465 | 7,547 | 7,727 | 8,058 | 8,188 | 8,146 | 8,101 |
| Expenses + | 3,320 | 3,596 | 3,711 | 3,615 | 3,122 | 2,879 | 2,602 | 589 | 3,332 | 3,668 | 3,616 | 3,678 | 3,677 |
| Operating Profit | 3,433 | 3,480 | 3,422 | 3,584 | 4,072 | 4,504 | 4,864 | 6,958 | 4,395 | 4,390 | 4,572 | 4,468 | 4,424 |
| OPM % | 51% | 49% | 48% | 50% | 57% | 61% | 65% | 92% | 57% | 54% | 56% | 55% | 55% |
| Other Income + | 116 | 56 | 97 | 99 | 108 | 56 | 114 | 84 | 92 | 85 | 83 | 154 | 155 |
| Interest | 336 | 352 | 246 | 11 | 127 | 408 | 418 | 255 | 431 | 437 | 376 | 404 | 376 |
| Depreciation | 1,320 | 1,374 | 1,526 | 1,596 | 1,564 | 1,560 | 1,580 | 1,568 | 1,693 | 1,704 | 1,801 | 1,798 | 1,838 |
| Profit before tax | 1,893 | 1,810 | 1,747 | 2,076 | 2,489 | 2,592 | 2,980 | 5,219 | 2,363 | 2,334 | 2,478 | 2,420 | 2,365 |
| Tax % | 26% | 26% | 26% | 26% | 26% | 26% | 25% | 23% | 25% | 26% | 26% | 27% | 24% |
| Net Profit + | 1,399 | 1,348 | 1,295 | 1,540 | 1,853 | 1,926 | 2,224 | 4,003 | 1,779 | 1,737 | 1,839 | 1,776 | 1,793 |
| EPS in Rs | 5.19 | 5.00 | 4.80 | 5.72 | 6.88 | 7.15 | 8.43 | 15.17 | 6.74 | 6.58 | 6.97 | 6.73 | 6.80 |
Financials of Indus Towers Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 11,668 | 5,558 | 6,085 | 6,621 | 6,826 | 6,743 | 13,954 | 27,717 | 28,382 | 28,601 | 30,123 | 32,493 |
| Expenses + | 6,664 | 3,070 | 3,260 | 3,464 | 3,714 | 3,185 | 6,775 | 12,816 | 18,713 | 14,044 | 9,473 | 14,680 |
| Operating Profit | 5,004 | 2,488 | 2,825 | 3,157 | 3,112 | 3,558 | 7,179 | 14,901 | 9,669 | 14,557 | 20,650 | 17,813 |
| OPM % | 43% | 45% | 46% | 48% | 46% | 53% | 51% | 54% | 34% | 51% | 69% | 55% |
| Other Income + | 522 | 1,679 | 1,960 | 1,599 | 1,559 | 1,846 | 1,262 | 458 | 85 | 1,490 | 764 | 477 |
| Interest | 290 | 33 | 39 | 46 | 53 | 335 | 836 | 1,603 | 1,670 | 1,864 | 1,858 | 1,552 |
| Depreciation | 2,185 | 1,155 | 1,166 | 1,180 | 1,066 | 1,282 | 2,848 | 5,325 | 5,324 | 6,060 | 6,402 | 7,141 |
| Profit before tax | 3,052 | 2,979 | 3,580 | 3,529 | 3,553 | 3,788 | 4,757 | 8,431 | 2,759 | 8,122 | 13,154 | 9,598 |
| Tax % | 35% | 25% | 23% | 29% | 30% | 13% | 21% | 24% | 26% | 26% | 24% | 26% |
| Net Profit + | 1,992 | 2,247 | 2,747 | 2,494 | 2,494 | 3,299 | 3,779 | 6,373 | 2,040 | 6,036 | 9,932 | 7,145 |
| EPS in Rs | 10.52 | 11.85 | 14.85 | 13.48 | 13.48 | 17.83 | 14.02 | 23.65 | 7.57 | 22.40 | 37.65 | 27.08 |
| Dividend Payout % | 105% | 25% | 108% | 104% | 111% | 59% | 143% | 47% | 0% | 0% | 0% | 52% |
Financials of Indus Towers Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,894 | 1,897 | 1,850 | 1,850 | 1,850 | 1,850 | 2,695 | 2,695 | 2,695 | 2,695 | 2,638 | 2,638 |
| Reserves | 15,126 | 16,345 | 13,650 | 15,115 | 12,682 | 11,693 | 13,182 | 19,456 | 18,415 | 24,344 | 29,860 | 37,008 |
| Borrowings + | 2,582 | 0 | 278 | 0 | 6 | 4,627 | 21,576 | 19,726 | 19,185 | 20,531 | 21,156 | 21,127 |
| Other Liabilities + | 7,552 | 2,461 | 5,163 | 2,661 | 2,577 | 1,584 | 7,491 | 6,091 | 6,278 | 8,298 | 9,514 | 10,544 |
| Total Liabilities | 27,155 | 20,703 | 20,941 | 19,625 | 17,115 | 19,754 | 44,944 | 47,968 | 46,572 | 55,868 | 63,168 | 71,316 |
| Fixed Assets + | 14,812 | 6,063 | 5,794 | 5,595 | 5,332 | 6,714 | 31,800 | 31,826 | 32,384 | 39,300 | 44,380 | 49,514 |
| CWIP | 226 | 70 | 58 | 110 | 118 | 54 | 274 | 179 | 355 | 422 | 567 | 630 |
| Investments | 5,882 | 10,059 | 11,172 | 12,327 | 9,906 | 11,170 | 2,271 | 1,652 | 276 | 3 | 1,486 | 4,316 |
| Other Assets + | 6,234 | 4,511 | 3,916 | 1,593 | 1,759 | 1,815 | 10,598 | 14,311 | 13,559 | 16,143 | 16,735 | 16,856 |
| Total Assets | 27,155 | 20,703 | 20,941 | 19,625 | 17,115 | 19,754 | 44,944 | 47,968 | 46,572 | 55,868 | 63,168 | 71,316 |
Financials of Indus Towers Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 3,990 | 1,912 | 2,866 | 3,469 | 3,159 | 2,315 | 7,481 | 9,121 | 7,905 | 11,582 | 19,645 | 15,684 |
| Cash from Investing Activity + | -937 | 1,548 | -237 | -1,855 | 1,600 | -1,012 | 1,798 | -2,174 | -1,730 | -7,546 | -10,910 | -10,198 |
| Cash from Financing Activity + | -3,188 | -1,453 | -2,671 | -3,555 | -4,795 | -1,185 | -9,377 | -5,982 | -7,133 | -3,995 | -8,648 | -5,588 |
| Net Cash Flow | -136 | 2,007 | -42 | -1,940 | -36 | 118 | -98 | 966 | -958 | 41 | 87 | -102 |
| Free Cash Flow | 2,175 | 1,113 | 1,960 | 2,521 | 2,329 | 1,586 | 5,529 | 6,252 | 4,737 | 3,136 | 13,388 | 7,786 |
| CFO/OP | 97% | 105% | 130% | 136% | 128% | 80% | 119% | 74% | 105% | 92% | 104% | 99% |
Financials of Indus Towers Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 13 | 18 | 15 | 29 | 20 | 100 | 93 | 63 | 82 | 58 | 55 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 11 | 13 | 18 | 15 | 29 | 20 | 100 | 93 | 63 | 82 | 58 | 55 |
| Working Capital Days | -106 | -42 | -207 | -41 | -24 | -149 | -173 | 11 | 3 | 3 | -2 | 56 |
| ROCE % | 15% | 14% | 18% | 23% | 21% | 23% | 19% | 25% | 11% | 22% | 29% | 19% |