Indus Towers Ltd.
INDUSTOWERTelecommunication filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
11 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (3 of 11 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220513 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221104 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230202 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230504 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230805 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231101 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240131 | 2023-12-31 | yes | |
| TRANSCRIPT | 20260209 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260508 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260803 | 2026-06-30 | yes |
INDUSTOWER
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 379.85 |
| 52-week range | 338.55 – 477.75 |
| Return 1M | -1.91% |
| Return 3M | -3.48% |
| Return 1Y | 6.06% |
| Return 3Y | 104.11% |
| Return 5Y | 19.58% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 8,431.00 |
| Other income | 121.00 |
| Total income | 8,552.00 |
| Cost of materials consumed | 3.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 215.00 |
| Finance costs | 486.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.51 | 0.00 |
| institutions foreign | 0.23 | -0.02 |
| institutions domestic | 0.21 | 0.02 |
| mutual funds | 0.16 | 0.02 |
| public | 0.49 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 11 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,967.00 | 6,765.00 | 6,753.00 | 7,076.00 | 7,132.00 | 7,199.00 | 7,193.00 | 7,383.00 | 7,465.00 | 7,547.00 | 7,727.00 | 8,058.00 | 8,188.00 | 8,146.00 | 8,101.00 | 8,431.00 |
| Other income | 63.00 | 90.00 | 116.00 | 56.00 | 97.00 | 99.00 | 108.00 | 56.00 | 114.00 | 84.00 | 92.00 | 85.00 | 83.00 | 154.00 | 155.00 | 121.00 |
| Total income | 8,030.00 | 6,855.00 | 6,869.00 | 7,132.00 | 7,230.00 | 7,298.00 | 7,302.00 | 7,439.00 | 7,579.00 | 7,631.00 | 7,819.00 | 8,143.00 | 8,271.00 | 8,300.00 | 8,256.00 | 8,552.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.00 | 1.00 | 1.00 | 3.00 | 5.00 | 3.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 196.00 | 200.00 | 195.00 | 185.00 | 196.00 | 198.00 | 203.00 | 197.00 | 207.00 | 217.00 | 220.00 | 213.00 | 205.00 | 229.00 | 231.00 | 215.00 |
| Finance costs | 392.00 | 354.00 | 336.00 | 352.00 | 246.00 | 11.00 | 127.00 | 408.00 | 418.00 | 255.00 | 360.00 | 396.00 | 462.00 | 487.00 | 469.00 | 486.00 |
| Depreciation and amortisation | 1,307.00 | 1,358.00 | 1,320.00 | 1,374.00 | 1,526.00 | 1,596.00 | 1,564.00 | 1,560.00 | 1,580.00 | 1,568.00 | 1,693.00 | 1,704.00 | 1,801.00 | 1,798.00 | 1,838.00 | 1,894.00 |
| Other expenses | 4,960.00 | 5,402.00 | 3,125.00 | 3,411.00 | 3,515.00 | 3,416.00 | 2,918.00 | 2,682.00 | 2,394.00 | 373.00 | 3,179.00 | 3,493.00 | 3,324.00 | 3,363.00 | 3,349.00 | 3,608.00 |
| Total expenses | 6,854.00 | 7,314.00 | 4,976.00 | 5,322.00 | 5,483.00 | 5,221.00 | 4,813.00 | 4,848.00 | 4,599.00 | 2,412.00 | 5,456.00 | 5,809.00 | 5,793.00 | 5,880.00 | 5,891.00 | 6,205.00 |
| Profit before exceptional items and tax | 1,175.00 | -459.00 | 1,893.00 | 1,810.00 | 1,747.00 | 2,076.00 | 2,489.00 | 2,592.00 | 2,980.00 | 5,219.00 | 2,363.00 | 2,334.00 | 2,478.00 | 2,420.00 | 2,365.00 | 2,347.00 |
| Exceptional items | 0.00 | -493.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1,175.00 | -952.00 | 1,893.00 | 1,810.00 | 1,747.00 | 2,076.00 | 2,489.00 | 2,592.00 | 2,980.00 | 5,219.00 | 2,363.00 | 2,334.00 | 2,478.00 | 2,420.00 | 2,365.00 | 2,347.00 |
| Current tax | 704.00 | 432.00 | 438.00 | 475.00 | 441.00 | 451.00 | 572.00 | 443.00 | 400.00 | 457.00 | 440.00 | 543.00 | 520.00 | 571.00 | 458.00 | 558.00 |
| Deferred tax | -400.00 | -676.00 | 56.00 | -12.00 | 11.00 | 85.00 | 64.00 | 222.00 | 357.00 | 758.00 | 144.00 | 54.00 | 120.00 | 73.00 | 115.00 | 44.00 |
| Tax expense | 303.00 | -244.00 | 494.00 | 462.00 | 452.00 | 536.00 | 636.00 | 666.00 | 757.00 | 1,216.00 | 584.00 | 597.00 | 639.00 | 644.00 | 572.00 | 602.00 |
| Profit for the period | 872.00 | -708.00 | 1,399.00 | 1,348.00 | 1,295.00 | 1,540.00 | 1,853.00 | 1,926.00 | 2,224.00 | 4,003.00 | 1,779.00 | 1,737.00 | 1,839.00 | 1,776.00 | 1,793.00 | 1,746.00 |
| Profit attributable to owners | 872.00 | 0.00 | 1,399.00 | 1,348.00 | 1,295.00 | 1,540.00 | — | — | 0.00 | 4,003.00 | 1,779.00 | 1,737.00 | 1,839.00 | 1,776.00 | 1,793.00 | 1,746.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -0.00 | 0.00 | -0.00 | 0.00 | -4.00 | 0.00 | 1.00 | 0.00 | -1.00 | 0.00 | -2.00 | 0.00 | -3.00 | 0.00 | 2.00 | 0.00 |
| Total comprehensive income | 871.00 | -708.00 | 1,399.00 | 1,348.00 | 1,291.00 | 1,540.00 | 1,854.00 | 1,926.00 | 2,222.00 | 4,003.00 | 1,777.00 | 1,737.00 | 1,837.00 | 1,776.00 | 1,795.00 | 1,746.00 |
| Earnings per share, basic | 3.24 | -2.63 | 5.19 | 5.00 | 4.81 | 5.72 | 6.88 | 7.15 | 8.30 | 15.18 | 6.75 | 6.59 | 6.97 | 6.73 | 6.80 | 6.62 |
| Earnings per share, diluted | 3.23 | -2.63 | 5.19 | 5.00 | 4.80 | 5.72 | 6.88 | 7.15 | 8.30 | 15.18 | 6.75 | 6.59 | 6.97 | 6.73 | 6.80 | 6.62 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 6,826.00 | 6,743.00 | 13,954.00 | 27,717.00 | 28,382.00 | 28,601.00 | 30,123.00 | 32,493.00 |
| Other income | 102.00 | 129.00 | 197.00 | 352.00 | 361.00 | 361.00 | 346.00 | 477.00 |
| Total income | 6,928.00 | 6,872.00 | 14,151.00 | 28,070.00 | 28,743.00 | 28,962.00 | 30,469.00 | 32,970.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.00 | 9.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 292.00 | 294.00 | 513.00 | 772.00 | 774.00 | 782.00 | 841.00 | 878.00 |
| Finance costs | -388.00 | -2.00 | 637.00 | 1,497.00 | 1,454.00 | 735.00 | 1,440.00 | 1,893.00 |
| Depreciation and amortisation | 1,066.00 | 1,282.00 | 2,848.00 | 5,325.00 | 5,324.00 | 6,060.00 | 6,402.00 | 7,141.00 |
| Other expenses | 3,423.00 | 2,892.00 | 6,262.00 | 12,044.00 | 17,939.00 | 13,262.00 | 8,628.00 | 13,451.00 |
| Total expenses | 4,392.00 | 4,465.00 | 10,261.00 | 19,639.00 | 25,491.00 | 20,839.00 | 17,315.00 | 23,372.00 |
| Profit before exceptional items and tax | 2,536.00 | 2,407.00 | 3,891.00 | 8,431.00 | 3,252.00 | 8,122.00 | 13,154.00 | 9,598.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | -493.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 2,536.00 | 2,407.00 | 3,891.00 | 8,431.00 | 2,759.00 | 8,122.00 | 13,154.00 | 9,598.00 |
| Current tax | 1,079.00 | 581.00 | 985.00 | 2,037.00 | 2,033.00 | 1,939.00 | 1,740.00 | 2,091.00 |
| Deferred tax | -20.00 | -92.00 | -7.00 | 20.00 | -1,313.00 | 147.00 | 1,482.00 | 362.00 |
| Tax expense | 1,059.00 | 489.00 | 978.00 | 2,058.00 | 719.00 | 2,086.00 | 3,222.00 | 2,453.00 |
| Profit for the period | 2,494.00 | 3,299.00 | 3,779.00 | 6,373.00 | 2,040.00 | 6,036.00 | 9,932.00 | 7,145.00 |
| Profit attributable to owners | 2,494.00 | 3,299.00 | 3,779.00 | 0.00 | 2,040.00 | — | 9,932.00 | 7,145.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Other comprehensive income | -2.00 | -12.00 | 1.00 | 4.00 | -1.00 | -3.00 | -3.00 | -0.00 |
| Total comprehensive income | 2,491.00 | 3,287.00 | 3,780.00 | 6,377.00 | 2,039.00 | 6,033.00 | 9,929.00 | 7,144.00 |
| Earnings per share, basic | 13.49 | 17.84 | 17.52 | 23.65 | 7.57 | 22.40 | 37.31 | 27.09 |
| Earnings per share, diluted | 13.49 | 17.84 | 17.52 | 23.65 | 7.57 | 22.40 | 37.31 | 27.09 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 47,036.00 | 46,572.00 | 52,155.00 | 55,868.00 | 58,372.00 | 63,170.00 | 67,191.00 | 71,316.00 |
| Non-current assets | 36,403.00 | 37,865.00 | 41,044.00 | 45,378.00 | 47,471.00 | 50,240.00 | 53,061.00 | 55,798.00 |
| Current assets | 10,633.00 | 8,708.00 | 11,112.00 | 10,490.00 | 10,901.00 | 12,930.00 | 14,131.00 | 15,518.00 |
| Property, plant and equipment | 31,479.00 | 32,360.00 | 34,955.00 | 39,287.00 | 41,660.00 | 44,342.00 | 46,871.00 | 49,466.00 |
| Capital work-in-progress | 220.00 | 355.00 | 586.00 | 422.00 | 392.00 | 567.00 | 623.00 | 630.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 28.00 | 23.00 | 18.00 | 13.00 | 43.00 | 38.00 | 40.00 | 48.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.00 | 20.00 | 27.00 |
| Trade receivables | 6,499.00 | 4,869.00 | 6,186.00 | 6,451.00 | 5,629.00 | 4,768.00 | 4,852.00 | 4,939.00 |
| Cash and cash equivalents | 33.00 | 22.00 | 74.00 | 63.00 | 26.00 | 150.00 | 21.00 | 47.00 |
| Total equity and liabilities | 47,036.00 | 46,572.00 | 52,155.00 | 55,868.00 | 58,372.00 | 63,170.00 | 67,191.00 | 71,316.00 |
| Equity | 20,475.00 | 21,110.00 | 23,699.00 | 27,039.00 | 28,399.00 | 32,498.00 | 36,101.00 | 39,646.00 |
| Equity share capital | 2,695.00 | 2,695.00 | 2,695.00 | 2,695.00 | 2,638.00 | 2,638.00 | 2,638.00 | 2,638.00 |
| Other equity | 17,780.00 | 18,415.00 | 21,004.00 | 24,344.00 | 25,761.00 | 29,860.00 | 33,462.00 | 37,008.00 |
| Total liabilities | 26,561.00 | 25,463.00 | 28,456.00 | 28,829.00 | 29,974.00 | 30,672.00 | 31,091.00 | 31,670.00 |
| Non-current liabilities | 15,879.00 | 17,300.00 | 18,219.00 | 18,672.00 | 19,398.00 | 20,885.00 | 21,387.00 | 22,668.00 |
| Current liabilities | 10,682.00 | 8,163.00 | 10,238.00 | 10,156.00 | 10,575.00 | 9,787.00 | 9,704.00 | 9,003.00 |
| Borrowings, non-current | 1,361.00 | 2,434.00 | 2,772.00 | 1,504.00 | 767.00 | 153.00 | 0.00 | 0.00 |
| Borrowings, current | 4,680.00 | 2,279.00 | 3,018.00 | 2,807.00 | 3,184.00 | 2,109.00 | 1,481.00 | 921.00 |
| Trade payables | 2,147.00 | 2,122.00 | 2,288.00 | 2,280.00 | 2,394.00 | 2,445.00 | 2,546.00 | 2,672.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 2,990.00 | 7,905.00 | 4,531.00 | 11,582.00 | 8,626.00 | 19,645.00 | 7,903.00 | 15,684.00 |
| Net cash from investing activities | 137.00 | -1,730.00 | -3,876.00 | -7,546.00 | -3,706.00 | -10,910.00 | -5,161.00 | -10,198.00 |
| Net cash from financing activities | -4,073.00 | -7,133.00 | -604.00 | -3,996.00 | -4,957.00 | -8,648.00 | -2,871.00 | -5,588.00 |
| Purchase of property, plant and equipment | 1,484.00 | 3,623.00 | 4,160.00 | 8,953.00 | 3,786.00 | 6,784.00 | 4,327.00 | 8,626.00 |
| Net increase in cash | -947.00 | -958.00 | 52.00 | 41.00 | -38.00 | 87.00 | -129.00 | -102.00 |
| con:CFO.BEFORE_TAX | 4,091.00 | 10,124.00 | 5,268.00 | 13,452.00 | 9,524.00 | 21,520.00 | 8,876.00 | 17,677.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 1,101.00 | 2,219.00 | 737.00 | 1,870.00 | 898.00 | 1,875.00 | 973.00 | 1,993.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 | 0.00 | 10.00 | 10.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 206.00 | 454.00 | 234.00 | 506.00 | 238.00 | 527.00 | 304.00 | 728.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,829.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-04 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 69.00 | 69.00 | 69.00 | 69.00 | 52.01 | 53.01 | 53.01 | 50.00 | 50.00 | 50.00 | 0.51 | 0.51 | 0.51 | 0.51 |
| Domestic institutions | 4.52 | 6.70 | 7.08 | 9.89 | 16.99 | 16.53 | 16.99 | 17.80 | 18.41 | 18.17 | 0.18 | 0.19 | 0.20 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 13.16 | 0.14 | 0.14 | 0.14 | 0.16 |
| Insurance companies | 2.20 | 2.74 | 2.96 | 3.11 | 3.69 | 3.67 | 3.44 | 3.47 | 3.55 | 3.72 | 0.03 | 0.04 | 0.04 | 0.04 |
| Foreign institutions | 23.93 | 21.41 | 20.71 | 16.40 | 23.15 | 24.54 | 24.19 | 26.15 | 26.42 | 27.51 | 0.26 | 0.26 | 0.25 | 0.23 |
| Government | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 |
| Public | 30.98 | 30.99 | 30.96 | 30.97 | 47.95 | 46.98 | 46.98 | 49.96 | 49.96 | 49.96 | 0.49 | 0.49 | 0.49 | 0.49 |
| Non-institutional | 2.52 | 2.88 | 3.17 | 4.68 | 7.82 | 5.91 | 5.81 | 6.01 | 5.13 | 4.28 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 2694936950 | 2694936950 | 2694936950 | 2694936950 | 2694936950 | 2638162757 | 2638162757 | 2638162757 | 2638162757 | 2638162757 | 2638162757 | 2638162757 | 2638162757 | 2638162757 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| BHARTI AIRTEL LIMITED | PROMOTERS | Any other transaction, Purchase of goods or services | 85,982,750,000.00 | 10 |
| VODAFONE IDEA LIMITED | Entities having significant influe | Any other transaction, Purchase of goods or services | 58,938,000,000.00 | 8 |
| BHARTI HEXACOM LIMITED | Entities having significant influe | Any other transaction, Purchase of goods or services | 6,622,000,000.00 | 8 |
| Indus Towers Employees Welfare Trust | Controlled trust | Any other transaction, Loan | 116,000,000.00 | 2 |
| SMARTX SERVICES LIMITED | Wholly Owned Subsidiary Company | Any other transaction, Loan, Purchase of goods or se | 46,000,000.00 | 3 |
| Prachur Sah | Key Managerial Personnel (Managing | Remuneration | 44,240,000.00 | 1 |
| Oneweb India Communications Private Limited | Entities having significant influe | Any other transaction, Sale of goods or services | 43,000,000.00 | 4 |
| BHARTI AIRTEL SERVICES LIMITED | Entities having significant influe | Any other transaction, Purchase of fixed assets, Pur | 40,310,000.00 | 5 |
| Vikas Poddar | Key Managerial Personnel (Chief Fi | Remuneration | 29,750,000.00 | 1 |
| NXTRA DATA LIMITED | Entities having significant influe | Any other transaction, Purchase of goods or services | 9,000,000.00 | 2 |
| Samridhi Rodhe | Key Managerial Personnel (Company | Remuneration | 4,540,000.00 | 1 |
| Ms. Anita Kapur | Other related party (Independent D | Remuneration | 1,500,000.00 | 1 |
| Ms. Sonu Bhasin | Other related party (Independent D | Remuneration | 1,500,000.00 | 1 |
| Mr. Sharad Bhansali | Other related party (Independent D | Remuneration | 1,380,000.00 | 1 |
| Mr. Ramesh Abhishek | Other related party (Independent D | Remuneration | 1,380,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-03 | Q1FY27 | Read the call | |
| 2026-05-08 | Q4FY26 | Read the call | |
| 2026-02-09 | Q3FY26 | Read the call | |
| 2024-01-31 | Q3FY24 | Avendus Spark/Chennai, Axis Bank/Mumbai, CONFERENCE CALL PARTICIPANTS, ICICI Securities/Mu | Read the call |
| 2023-11-01 | Q2FY24 | Ambit Pvt Ltd/Mumbai, CONFERENCE CALL PARTICIPANTS, GeeCee Holdings/Mumbai, ICICI Securiti | Read the call |
| 2023-08-05 | Q1FY24 | Ambit Capital/Mumbai, Avendus Spark / Chennai, BNP Paribas/Mumbai, CORPORATE CALL PARTICIP | Read the call |
| 2023-05-04 | Q4FY23 | Ambit Capital, Mumbai, Avendus Spark, Chennai, Axis Bank, Mumbai, BNP Paribas, Mumbai, COR | Read the call |
| 2023-02-02 | Q3FY23 | BNP Paribas, Mumbai, BofA Securities, Mumbai, CORPORATE CALL PARTICIPANTS, ICICI Securitie | Read the call |
| 2022-11-04 | Q2FY23 | Ambit Capital, Mumbai, BNP Paribas, Mumbai, CORPORATE CALL PARTICIPANTS, Dolat Capital, Mu | Read the call |
| 2022-08-09 | Q1FY23 | Ambit Capital, BNP Paribas, Corporate Call Participants, Credit Suisse, Dymon Asia Capital | Read the call |
| 2022-05-13 | Q4FY22 | CORPORATE CALL PARTICIPANTS, Citigroup, Mumbai, Credit Suisse, Mumbai, Deutsche Bank, Hong | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY23 | Q2FY24 | Q3FY23 | Q3FY24 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | Sir, what is the capex that we are building in for the full year and what is the capex requirement for lean tower versus a macro tower and what are th… | — | In terms of the cash flows, free cash flow for the quarter was at Rs.8.7 billion despite capex remaining elevated at Rs. | On the capex side, we follow a very disciplined capital investment approach with robust controls and governance in place. | Do you think there will be a material acceleration in the tenancy and tower expansion by this customer because this quarter looks like a kind of taper… | — | We also continue to strengthen our approach towards capex management by enhancing cost discipline, standardizing tower cost and tightening execution c… |
| Capital allocation | My next question is in terms of the dividend policy looking forward in FY2023 and FY2024 in terms of the dividend announcement because you are facing … | — | — | — | And also, given -- will there be any reconsideration in the form of payout given the recent buyback tax changes in the budget? | — | — | With the improved financial situation of one of the customers and the potential business momentum, the Board has recommended a final dividend of INR 1… |
| Costs | — | — | — | — | — | — | — | Geopolitical developments due to the war in West Asia have created near-term supply-side disruptions impacting tower availability, deployment timeline… |
| Debt and cash | — | There is no cash flow impact of the same and as a result we have seen some decline in this quarter but on an underlying basis the quarter-on-quarter s… | — | As I had stated in the last earnings call, subsequent collection of delayed payment for Q2 from a major customer aided the free cash flow in this quar… | So the India free cash flow generation will largely be available for payouts, which you will consider with 4Q results. | — | No part of this publication may be reproduced or transmitted in any form or by any means without the prior written consent of Indus Towers Limited. - … | We had significant free cash flow generation of INR 11.1 billion in Q4 and INR 37.6 billion in full year FY26. And subsequently, the Board has recomme… |
| Demand | — | Driven by robust demand from one of our major customers, particularly in rural areas, our tower additions during Q2 were the highest ever. | — | — | According to TRAI, 5G usage alone grew 15% quarter-on-quarter, accounting for 35% of the total data traffic in Q2 FY26, up from 32% in Q1 FY26. As dat… | — | Our customer’s focus on expanding its coverage in rural market and the ongoing fast-paced 5G rollout make us optimistic about the demand outlook in th… | Ongoing demand momentum and consistent collections, along with our focus on cost optimization and operational efficiencies, provide strong visibility … |
| Guidance | Ravi Agarwal - UTI AMC Ltd - Mumbai So should we expect any further write-offs because what we understand from the previous one is that no major write… | We expect the accelerated rural expansion of one of our major customers to continue in the near term, which coupled with the 5G rollouts augur well fo… | So pretty much, we are still hoping for the current payment plan to sort of guide us as far as the future is concerned. | Mr. Sohan Joshi – Individual Investor/Mumbai So by what duration are we expecting to cover a larger part of the coverage for the fiberization maybe wi… | With customers propelling 5G network rollout, we expect the loading on towers to further accelerate. | What I would like to also table that since we are in active negotiations with the second customer, revealing the impact on ARPT at this moment will no… | — | Following the approval of our near-term net zero targets by Science Based Target initiative SBTI, we have formulated a decarbonization roadmap to guid… |
| Margin | — | — | — | — | On profitability, reported EBITDA declined by 35.6% year-on-year and 2.3% quarter-on-quarter to INR 45.1 billion. | — | — | On profitability, reported EBITDA was at INR 44.6 billion, growing by 1.6% year-on-year and declining 1% quarter-on-quarter. |
| People | — | — | — | — | Automation and analytics are reducing manual interventions, improving asset utilization and allowing our teams to focus on higher value proactive netw… | — | — | In parallel, we have progressed our digital twin journey through site service image platform, enabling planning teams with a unified view of sites to … |
| Pricing | — | — | — | — | — | What will be the impact on ARPT because we have mentioned that we have gone for a competitive pricing that also indicates that we have taken some cut … | — | So as I was explaining earlier, the same question was earlier that once the retail pricing -- if the retail pricing has an impact, it will impact both… |
| Revenue growth | Aazeb Anwarali Parbatani – Omcara Capital – Mumbai My question is that what is the topline revenue which we are saying that we are not able to disclos… | — | — | — | This translated into a year-on-year growth of 10.6% and 9% in tower and co- location base, respectively. | — | — | As large-scale deployments stabilize, rising data demand and network densification are driving the need for incremental capacity on existing infrastru… |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2023-08-05 | Q1FY24 | Vandana – Moderator | Our receivables increased by about Rs.4.3 billion during this quarter as our customers are seeking clarity on certain bills and we expect to resolve it soon. |