# INDUSTOWER (INDUSTOWER) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/industower

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹375.9
- Change: -1.43%
- As of: 2026-09-18
- 1D return: -1.43%
- 5D return: +1.05%
- 1M return: +1.93%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, INDUSTOWER's technical stance is predominantly bearish across daily and weekly timeframes, while showing signs of strength on the monthly chart. Daily indicators show the price below key moving averages (EMA 20, EMA 50, SMA 20, SMA 50, SMA 200) and the Supertrend, suggesting downward momentum. This is reinforced by a bearish Supertrend direction and a declining EMA 20 slope on the weekly chart, with the price also below its weekly moving averages and Supertrend. However, the monthly timeframe presents a conflicting picture with the price above the monthly Supertrend, indicating potential underlying strength despite shorter-term weakness. Recent patterns include an active Inside Bar on the monthly chart and a Bearish Engulfing Reversal on the weekly chart as of September 18, 2026.

The nearest support level is observed at ₹373.42, approximately 0.66% below the current price of ₹375.9. Resistance is faced at ₹377.38, about 0.39% higher. The stock's current position is within its trading range, with a 33% position in the 20-period range. Volatility is a consideration, with an annualized volatility of 29% and a current drawdown of -21%. The recent anomaly on September 11, 2026, showed an extreme upward volume with price movement, indicating significant activity.

- Daily and weekly timeframes indicate a bearish trend, with prices below key moving averages and Supertrend.
- The monthly timeframe shows a bullish signal, with the price above the Supertrend.
- Nearest support is at ₹373.42 and nearest resistance is at ₹377.38.
- Active patterns include a monthly Inside Bar and a weekly Bearish Engulfing Reversal as of September 18, 2026.
- Watch for a sustained break above ₹377.38 resistance or a fall below ₹373.42 support for potential trend confirmation.

- Inside Bar
- Bearish Engulfing Reversal
- Outside Bar
- Bullish Engulfing Reversal

### News Context

In the week ending September 18, 2026, Indus Towers was featured in multiple third-party reports highlighting potential trading opportunities. On September 15, 2026, a report identified Indus Towers as a stock to trade, alongside YES Bank and Cochin Shipyard, detailing key levels, target prices, and stop-loss recommendations. Similarly, on September 12, 2026, Sumeet Bagadia recommended Indus Towers as one of three best stocks to buy, providing a buying range, target, and stop-loss for Tuesday's trading session.

- On September 15, 2026, Indus Towers was identified in a trading report as a stock to trade, with specific levels, targets, and stop-losses mentioned.
- On September 12, 2026, Sumeet Bagadia recommended Indus Towers as a 'best stock to buy', including a buying range, target price, and stop-loss.

- YES Bank, Cochin Shipyard, Indus Tower: Stocks to trade — Key levels, target price & stop loss
- Best stocks to Buy: Axis Bank, Dr Reddy’s Labs, Indus Towers - Sumeet Bagadia recommends for Tuesday | Target, stop-loss

### What Changed

As of September 18, 2026, Indus Towers' share price has seen a slight decrease, closing at ₹375.90 compared to its previous price of ₹381.35. The available evidence does not indicate any new filings or news developments for the company. The daily and weekly trends remain unchanged, suggesting a period of stability in market sentiment around the stock.

- On September 18, 2026, Indus Towers closed at ₹375.90.
- The previous closing price on an unspecified prior date was ₹381.35.
- No new filings or news were reported for Indus Towers as of September 18, 2026.
- The daily and weekly trends for Indus Towers remained unchanged as of September 18, 2026.

### Official Filings

Indus Towers Limited held its 20th Annual General Meeting (AGM) on August 19, 2026, where shareholders approved all five resolutions. Key outcomes included the adoption of the financial statements for the fiscal year ended March 31, 2026, and the declaration of a dividend for that period. The AGM also saw the re-appointment of directors Mr. Soumen Ray and Mr. Rajan Bharti Mittal, and the approval of material related party transactions with Bharti Airtel Limited. The company reported a revenue of ₹32,493 crores, EBITDA of ₹17,976 crores, and a net profit of ₹7,145 crores for the fiscal year 2025-26. In other developments, Mr. Randeep Singh Sekhon's appointment as a Director, liable to retire by rotation, was approved via postal ballot/e-voting on July 29, 2026, with 82.52% of votes polled in favor. He transitioned from Additional Director to Non-Executive Non-Independent Director, effective July 29, 2026. The company also provided updates on investor meetings, with officials scheduled to attend the UBS India Summit 2026 on September 11, 2026, and an in-person group meeting with Eastspring Investments and T. Rowe Price on September 18, 2026. Earlier, on July 28, 2026, the company discussed its Q1 performance ended June 30, 2026, reporting gross revenues of INR 84.3 billion, up 4.6% year-on-year, and EBITDA of INR 45.2 billion, up 3.0% year-on-year. Progress on the Africa expansion strategy was noted as on track, with regulatory approvals secured in Nigeria, Uganda, and Zambia.

- On August 19, 2026, Indus Towers Limited held its 20th AGM, approving financial statements for FY 2025-26 and declaring a dividend.
- Shareholders re-appointed directors Mr. Soumen Ray and Mr. Rajan Bharti Mittal at the August 19, 2026 AGM.
- Material related party transactions with Bharti Airtel Limited were approved at the August 19, 2026 AGM.
- Mr. Randeep Singh Sekhon's appointment as a Non-Executive Non-Independent Director was approved via postal ballot on July 29, 2026, with 82.52% approval.
- Indus Towers reported FY 2025-26 revenue of ₹32,493 crores, EBITDA of ₹17,976 crores, and net profit of ₹7,145 crores.
- Q1 FY 2026-27 gross revenues were INR 84.3 billion (up 4.6% YoY) and EBITDA was INR 45.2 billion (up 3.0% YoY), as discussed on July 28, 2026.
- Company officials are scheduled for investor meetings on September 11, 2026 (UBS India Summit) and September 18, 2026 (Eastspring Investments and T. Rowe Price).

- Indus Towers Limited has informed the Exchange regarding Schedule of Analyst/ Institutional Investors Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Indus Towers Limited has informed the Exchange regarding schedule of Analyst/ Institutional Investors Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Indus Towers Limited has informed the Exchange regarding Voting Results and Scrutinizer Report pertaining to 20th Annual General Meeting |SUBJECT: Shareholders meeting
- Indus Towers Limited has informed the Exchange regarding proceedings of 20th Annual General Meeting |SUBJECT: Shareholders meeting
- Indus Towers Limited has informed the Exchange regarding schedule of Analyst/ Institutional Investors' Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates

### Fundamentals

Indus Towers reported revenue from operations of ₹8,431.10 crore for Q1 FY2026-27. This represents a sequential increase from ₹8,101 crore in Q4 FY2025-26 and ₹8,146.30 crore in Q3 FY2025-26. Profit Before Tax (PBT) for Q1 FY2026-27 was ₹2,347.40 crore, showing a slight decrease from ₹2,365.30 crore in Q4 FY2025-26 and ₹2,420.30 crore in Q3 FY2025-26. Consequently, Profit Loss For Period also saw a marginal decline to ₹1,745.80 crore in Q1 FY2026-27, compared to ₹1,792.90 crore in Q4 FY2025-26 and ₹1,775.90 crore in Q3 FY2025-26. Basic and Diluted Earnings Per Share followed a similar trend, with Q1 FY2026-27 reporting ₹6.62 per share, down from ₹6.80 per share in Q4 FY2025-26. Investors may monitor the company's ability to translate revenue growth into profit growth and the trend in its earnings per share.

- Revenue from operations for Q1 FY2026-27 was ₹8,431.10 crore.
- Profit Before Tax for Q1 FY2026-27 was ₹2,347.40 crore.
- Profit Loss For Period for Q1 FY2026-27 was ₹1,745.80 crore.
- Basic and Diluted Earnings Per Share for Q1 FY2026-27 stood at ₹6.62 per share.

### Bull Case

External market commentary has identified Indus Towers as a stock for potential trading, with specific analysts recommending it for purchase. While the daily and weekly technical trends indicate a bearish SuperTrend direction, the monthly trend shows a bullish SuperTrend direction. The stock has experienced a year-to-date return of -0.14 and a 1-year return of 0.06.

- External market commentary includes recommendations to buy Indus Towers.
- The monthly technical trend shows a bullish SuperTrend direction.
- Indus Towers has a 1-year return of 0.06.
- The year-to-date return for Indus Towers is -0.14.

- YES Bank, Cochin Shipyard, Indus Tower: Stocks to trade — Key levels, target price & stop loss
- Best stocks to Buy: Axis Bank, Dr Reddy’s Labs, Indus Towers - Sumeet Bagadia recommends for Tuesday | Target, stop-loss

### Bear Case

The company's technical indicators suggest a weakening short-term trend. The daily trend analysis shows the closing price of ₹375.9 is below both the 20-day Exponential Moving Average (EMA) of ₹378.54 and the 50-day Simple Moving Average (SMA) of ₹384.98. Furthermore, the Super Trend indicator is in a bearish direction. On a weekly basis, the closing price is also below the 20-day EMA (₹395.63) and 50-day SMA (₹410.75), with the Super Trend also indicating a bearish direction. The company has experienced a year-to-date return of -0.14 and a 6-month return of -0.15, indicating a decline over these periods. The current drawdown is -0.21, with a maximum drawdown of -0.24, suggesting the stock has experienced significant price decreases from its recent highs.

- As of 2026-09-18, the daily Super Trend indicator is bearish.
- The stock's year-to-date return is -0.14.
- The stock's 6-month return is -0.15.
- The current drawdown is -0.21, with a maximum drawdown of -0.24.

- YES Bank, Cochin Shipyard, Indus Tower: Stocks to trade — Key levels, target price & stop loss
- Best stocks to Buy: Axis Bank, Dr Reddy’s Labs, Indus Towers - Sumeet Bagadia recommends for Tuesday | Target, stop-loss

### FAQs

**What were Indus Towers' key financial results for the fiscal year ended March 31, 2026?**

For the fiscal year ended March 31, 2026, Indus Towers reported revenue of ₹32,493 crores, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of ₹17,976 crores, and a net profit of ₹7,145 crores. These figures were adopted during the company's 20th Annual General Meeting held on August 19, 2026.

**What is the current technical trend for Indus Towers based on daily and weekly analysis as of September 18, 2026?**

As of September 18, 2026, the daily trend for Indus Towers indicates a bearish Supertrend direction with the closing price of ₹375.9 below the Supertrend value of ₹397.94. The Exponential Moving Average (EMA) 20 is also above the EMA 50, and both are sloping downwards. The weekly trend also shows a bearish Supertrend direction, with the closing price below the Supertrend value of ₹443.3 and the EMA 20 sloping downwards.

**What recent investor engagement activities has Indus Towers undertaken?**

Indus Towers officials are scheduled to participate in several investor meetings. They will attend the UBS India Summit 2026 on September 11, 2026. Additionally, they will hold an in-person group meeting with Eastspring Investments and T. Rowe Price on September 18, 2026.

**What were the outcomes of Indus Towers' 20th Annual General Meeting on August 19, 2026?**

During the 20th Annual General Meeting on August 19, 2026, all five proposed resolutions were approved by shareholders. Key approvals included the adoption of financial statements for the year ended March 31, 2026, the declaration of a dividend for that period, the re-appointment of directors Mr. Soumen Ray and Mr. Rajan Bharti Mittal, and the approval of material related party transactions with Bharti Airtel Limited.

- YES Bank, Cochin Shipyard, Indus Tower: Stocks to trade — Key levels, target price & stop loss
- Best stocks to Buy: Axis Bank, Dr Reddy’s Labs, Indus Towers - Sumeet Bagadia recommends for Tuesday | Target, stop-loss
- Indus Towers Limited has informed the Exchange regarding Schedule of Analyst/ Institutional Investors Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Indus Towers Limited has informed the Exchange regarding schedule of Analyst/ Institutional Investors Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Indus Towers Limited has informed the Exchange regarding Voting Results and Scrutinizer Report pertaining to 20th Annual General Meeting |SUBJECT: Shareholders meeting
- Indus Towers Limited has informed the Exchange regarding proceedings of 20th Annual General Meeting |SUBJECT: Shareholders meeting
- Indus Towers Limited has informed the Exchange regarding schedule of Analyst/ Institutional Investors' Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹381.07
- Risk regime: Price Risk Requires Attention

### Support levels
- 350.95
- 338.48125
- 332

### Resistance levels
- 388.975
- 393.7064208984375
- 398.95

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -1.43% |
| return_10 | +0.25% |
| return_1m | +0.94% |
| return_1y | +6.10% |
| return_20 | +1.93% |
| return_3m | -9.27% |
| return_5 | +1.05% |
| return_6m | -14.75% |
| return_since_start | +9.29% |
| return_ytd | -13.74% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -23.89% |
| annualized_volatility | +28.63% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Up 4.6% but Profit Grows Only 0.6% as Finance Costs Jump

Indus Towers Limited reported revenue of ₹8,431.10 crore for the first quarter of fiscal 2026-27 (quarter ended 30 June 2026), a 4.64% increase over the same quarter last year. Profit before tax, however, rose just 0.58% to ₹2,347.40 crore. The muted profit growth partly reflects a 22.45% surge in finance costs, which absorbed a meaningful share of the revenue gain despite the company’s almost debt‑free balance sheet.

## Revenue

Revenue from operations reached ₹8,431.10 crore, up 4.64% from ₹8,057.60 crore in the year‑ago quarter. On a sequential basis, revenue grew 4.07% compared with the previous quarter (₹8,101 crore), recovering from a small decline in that period. The top‑line improvement indicates continued activity in the tower infrastructure business.

## Profitability and Margins

Profit before tax (PBT) edged up 0.58% year‑on‑year to ₹2,347.40 crore. Net profit rose 0.52% to ₹1,745.80 crore, and basic earnings per share increased 0.46% to ₹6.62. Because revenue grew much faster than profit, the pre‑tax profit margin narrowed from 28.97% in the year‑ago quarter to 27.84% in the current quarter.

Sequentially, PBT declined 0.76% and net profit fell 2.63%, indicating that earnings did not strengthen even as the top line improved.

## Expense Overview

Finance costs were a notable driver of the cost picture. They jumped 22.45% year‑on‑year to ₹485.50 crore, up from ₹396.50 crore, and increased 3.54% sequentially. This rise occurred while the debt‑equity ratio stood at just 0.0002, so the higher finance charge did not result from a build‑up of leverage.

Depreciation, a large non‑cash charge tied to the capital‑intensive tower network, came in at ₹1,893.60 crore — roughly 81% of profit before tax.

Other expense and income items included employee benefit expense of ₹215.10 crore and other income of ₹121.20 crore. Tax expense was ₹601.60 crore, up 0.77% year‑on‑year, with the effective tax rate remaining near 25.6%.

## Balance Sheet and Leverage

Indus Towers maintained a debt‑equity ratio of 0.0002 at the quarter end, unchanged from the previous quarter and down from 0.0004 a year earlier. The ratio shows the company carries virtually no debt.

## Management Commentary

Management reported a resilient Q1 performance despite supply chain disruptions, supported by customer-led network expansion, disciplined cost management, and strong cash flow generation. The company is investing in digital transformation, AI-led capabilities, and energy management to strengthen operational agility and service delivery. International expansion is progressing well, with licenses secured in all three African target markets and rollouts on track to commence in 2026.

Management sees rising demand for digital infrastructure and believes its differentiated value proposition, execution excellence, and technology-led approach position it to capitalize on growth opportunities. Regarding a large customer (Vodafone Idea), management noted that the customer continues to pay monthly billing and is confident of generating sufficient cash flow; management believes carrying amounts of receivables and PPE related to that customer will be recovered in normal course of business.

## Key Takeaway

Revenue continued to grow, but profit expanded only fractionally. A sharp 22% rise in finance costs limited the earnings benefit from higher revenue, compressing pre‑tax margins even though the balance sheet remained essentially debt‑free. The quarter illustrates how cost movements — particularly in finance charges — can materially affect profitability despite a stable top line.

### Ratios

## Official filings

- 2026-09-18 — Credit Rating Update: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_18092026181856_SEIntimationESGRating.pdf)
- 2026-09-10 — Generic Announcement: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_10092026124242_InvestorCallSchedule10092026.pdf)
- 2026-09-03 — Generic Announcement: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_03092026183224_InvestorCallSchedule03092026.pdf)
- 2026-08-21 — Generic Announcement: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_21082026214651_SEIntimationScrutinizers21082026.pdf)
- 2026-08-19 — Generic Announcement: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_19082026233744_AGM_proceedings.pdf)
- 2026-08-10 — Generic Announcement: Indus Towers Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_10082026161806_InvestorCallSchedule10082026.pdf)
- 2026-08-03 — Generic Announcement: Indus Towers Limited conducted an earnings call on July 28, 2026, to discuss performance for Q1 ended June 30, 2026. Gross revenues grew 4.6% year-on-year to INR 84.3 billion, with core rental revenues up 5.2% to INR 53.7 billion. Reported EBITDA increased 3.0% year-on-year to INR 45.2 billion. The company added approximately 3,100 macro towers and 4,200 colocations during the quarter. Progress on the Africa expansion strategy is on track, with regulatory approvals secured in Nigeria, Uganda, and Zambia, and rollouts expected to commence in the next quarter. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_03082026203503_SEECTranscriptsIndus03082026.pdf)
- 2026-07-31 — Generic Announcement: Indus Towers Limited announced the approval of Mr. Randeep Singh Sekhon's appointment as a Director, liable to retire by rotation, through an ordinary resolution passed via postal ballot/e-voting on July 29, 2026. The resolution received an 82.52% approval rate on votes polled. Mr. Sekhon, currently the Chief Technology Officer for Airtel India and South Asia, was initially appointed as an Additional Director by the Board on May 1, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_31072026202923_SEOutcomePB31072026.pdf)
- 2026-07-31 — Official Filing: Indus Towers Limited reported a change in management on July 31, 2026. Randeep Singh Sekhon transitioned from Additional Director to Non-Executive Non-Independent Director, with the change effective July 29, 2026.
- 2026-07-31 — Generic Announcement: Indus Towers Limited announced the approval of Mr. Randeep Singh Sekhon's appointment as a Director, liable to retire by rotation, through an ordinary resolution passed via postal ballot/e-voting on July 29, 2026. The resolution received an 82.52% approval rate on votes polled. Mr. Sekhon, currently the Chief Technology Officer for Airtel India and South Asia, was initially appointed as an Additional Director by the Board on May 1, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_31072026203617_SEOutcomePB31072026.pdf)
- 2026-07-29 — Generic Announcement: Indus Towers Limited has published a newspaper advertisement on July 29, 2026, regarding the notice of its 20th Annual General Meeting (AGM) and e-voting information. The AGM is scheduled for August 19, 2026, and shareholders can participate via video conferencing. The company has completed the electronic dispatch of the AGM notice and integrated annual report for the financial year ended March 31, 2026, to eligible shareholders on July 28, 2026. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_29072026141541_SEPostDispatchAd29072026.pdf)
- 2026-07-29 — Official Filing: Indus Towers Limited will hold its 20th Annual General Meeting on August 19, 2026, commencing at 14:30:00 IST via Video Conference or Other Audio-Visual Means. The agenda includes adopting financial statements for the year ended March 31, 2026, declaring a dividend, re-appointing directors Mr. Soumen Ray and Mr. Rajan Bharti Mittal, and approving a material related party transaction with Bharti Airtel Limited. This transaction, for services including passive infrastructure, telecommunication services, and expense reimbursement, has a tenure from August 19, 2026, to August 31, 2027, with a total amount of INR 260,000,000,000.
- 2026-07-28 — Generic Announcement: Indus Towers Limited has fixed Monday, August 10, 2026, as the record date to determine eligibility for the final dividend payment for the financial year 2025-26. This follows the Board's recommendation of a ₹14 per equity share dividend, subject to member approval at the Annual General Meeting on August 19, 2026. The dividend will be paid within 30 days of approval to eligible shareholders. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_28072026234258_SERecordDate28072026.pdf)
- 2026-07-28 — Generic Announcement: Indus Towers Limited will hold its 20th Annual General Meeting on August 19, 2026, via Video Conferencing. The company has released its Integrated Annual Report and financial statements for the fiscal year ending March 31, 2026. A final dividend of ₹14 per share for FY2025-26 has been recommended, with August 10, 2026, set as the record date for dividend eligibility. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_28072026232449_SENoticeIRBRSRLetterFINAL.pdf)
- 2026-07-28 — Official Filing: Indus Towers Limited announced the grant of 813,968 stock options to 144 employees on July 27, 2026, under its Employee Stock Option Scheme 2014. These options, convertible into equity shares with a face value of Rs. 10 each, vest over three years: 30% after the first year, 30% after the second year, and 40% after the third year. The options can be exercised within 7 years from the vesting date, and vesting may increase up to 120% based on performance criteria.
- 2026-07-28 — Generic Announcement: Indus Towers Limited will hold its 20th Annual General Meeting on August 19, 2026, via Video Conferencing. The company has released its Integrated Annual Report and financial statements for the fiscal year ending March 31, 2026. A final dividend of ₹14 per share for FY2025-26 has been recommended, with August 10, 2026, set as the record date for dividend eligibility. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_28072026234008_SENoticeIRBRSRLetterFINAL.pdf)
- 2026-07-28 — Generic Announcement: Indus Towers Limited has made available the audio recording of its earnings call for the first quarter ended June 30, 2026. The recording was conducted on July 28, 2026, and the link to the audio file has been provided to BSE Limited and the National Stock Exchange of India Limited for their records. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_28072026211749_SEECRecordingsIndus28072026.pdf)
- 2026-07-27 — Press Release: Indus Towers Limited announced its audited consolidated financial results for the first quarter ended June 30, 2026. Consolidated revenues were Rs. 8,431 Crores, a 4.6% year-over-year increase. Consolidated EBITDA was Rs. 4,521 Crores, up 3.0% year-over-year, and consolidated Profit after Tax was Rs. 1,746 Crores, up 0.5% year-over-year. The company's total tower base increased by 6.3% year-over-year to 267,611, and its co-location base grew by 5.1% to 432,250. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_27072026193323_SEPressRelease27072026.pdf)
- 2026-07-27 — Generic Announcement: Indus Towers Limited will hold its 20th Annual General Meeting on August 19, 2026, via video conference. Newspaper advertisements regarding the AGM were published on July 27, 2026. The company is also providing information on its website and through stock exchanges. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_27072026225626_SEPreDispatchAd27072026.pdf)
- 2026-07-27 — Generic Announcement: Indus Towers Limited's Board of Directors approved the audited consolidated and standalone financial results for the first quarter ended June 30, 2026, on July 27, 2026. The company reported total income of Rs. 85,523 million and a profit after tax of Rs. 17,458 million for the consolidated results, and Rs. 17,454 million for standalone results for the quarter. The auditor's report was unmodified, and the company noted that a significant customer is meeting its payment obligations despite financial performance updates related to the AGR matter. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_27072026190319_SEIntimationOutcome27072026.pdf)
- 2026-07-27 — Generic Announcement: Indus Towers Limited reported its first quarter results for the period ended June 30, 2026. The company's revenue from operations was Rs 84,311 million, an increase of 4.6% year-over-year. EBITDA was Rs 45,246 million, up 3.1% year-over-year, with an EBITDA margin of 53.7%. Profit after tax was Rs 17,490 million. Capital expenditure for the quarter was Rs 17,188 million, and Operating Free Cash Flow was Rs 17,813 million. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_27072026193950_SEQuarterlyReport27072026.pdf)
- 2026-07-27 — Generic Announcement: On July 27, 2026, Indus Towers Limited's HR, Nomination and Remuneration Committee and Board approved the grant of 813,968 stock options to 144 eligible employees, including senior management. The options have an exercise price of Rs. 10 and vest over three years, with 30% after the first year, 30% after the second, and 40% after the third. The options can be exercised within seven years from the vesting date. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_27072026200407_SEIntimationESOP27072026.pdf)
- 2026-07-20 — Generic Announcement: Indus Towers Limited will announce its first quarter results for the period ended June 30, 2026, on July 27, 2026. An earnings conference call is scheduled for July 28, 2026, where senior management will discuss the company's performance and address queries. The results pack, including a quarterly report and media release, will be available on the company's website following the announcement. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_20072026171114_SEEarningsCallIndus20072026.pdf)
- 2026-07-18 — Credit Rating Update: On July 17, 2026, CRISIL Ratings reaffirmed Indus Towers Limited's long-term bank loan facilities and Rs. 1,000 crore bond at ‘Crisil AAA/Stable’, and short-term bank loan facilities and Commercial Papers at ‘Crisil A1+’. The rating for a Rs. 750 crore bond was withdrawn due to redemption. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_18072026192609_SEIntimationCreditRating18072026.pdf)
- 2026-07-14 — Generic Announcement: Indus Towers Limited submitted a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026. Kfin Technologies Limited, the Registrar and Share Transfer Agent, confirmed compliance with dematerialization requests, including confirmation, cancellation of old certificates, and updating records within 15 days of receipt. — [Official attachment](https://nsearchives.nseindia.com/corporate/BHARTIINFRATEL_14072026195435_SEReg74Indus14072026.pdf)

## News and market events

- 2026-09-19 — BUSINESS: **HEG arm bags Rs 217-cr order from Indus Towers** — HEG announced that its subsidiary, Replus Engitech, has received an order from Indus Towers for the supply of lithium-ion battery banks. — [Source](https://www.business-standard.com/markets/capital-market-news/heg-arm-bags-rs-217-cr-order-from-indus-towers-126091900198_1.html)
- 2026-09-18 — CNBC-TV18: **HEG Advanced Materials arm Replus Engitech gets ₹218 crore Indus Towers order** — Shares of HEG Advanced Materials Ltd ended at ₹238.55, up by ₹11.35, or 5.00%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/heg-advanced-materials-share-price-arm-replus-engitech-gets-rs-218-crore-indus-towers-order-19993763.htm)
- 2026-09-15 — BUSINESSTODAY: **YES Bank, Cochin Shipyard, Indus Tower: Stocks to trade — Key levels, target price & stop loss** — Stocks to buy, Stock picks, Stocks to trade, trading views, YES Bank, Indus Towers, Cochin Shipyard, YES Bank shares, Indus Towers shares, Cochin Shipyard shares, YES Bank share price, Indus Towers share price, Cochin Shipyard share price, YES Bank stock price, Indus Towers stock price, Cochin Shipyard stock price, YES Bank target price, Indus Towers target price, Cochin Shipyard target price — [Source](https://www.businesstoday.in/markets/stocks/story/yes-bank-cochin-shipyard-indus-tower-stocks-to-trade-key-levels-target-price-stop-loss-555163-2026-09-15)
- 2026-09-12 — Mint: **Best stocks to Buy: Axis Bank, Dr Reddy’s Labs, Indus Towers - Sumeet Bagadia recommends for Tuesday | Target, stop-loss** — Best stocks to Buy: Sumeet Bagadia recommends three stocks to buy on Monday, giving buying range, targets and stop-loss — [Source](https://www.livemint.com/market/stock-market-news/best-stocks-to-buy-axis-bank-dr-reddy-s-labs-indus-towers-sumeet-bagadia-recommends-for-tuesday-target-stoploss-11789202101181.html)
- 2026-09-11 — CNBC-TV18: **Vodafone Idea fundraise may improve growth, but Axis Capital remains cautious on stock** — Gaurav Malhotra, Executive Director-Telecom at Axis Capital says the brokerage retains a Reduce rating with a ₹13 target, even after factoring in tariff hikes and stronger EBITDA. Meanwhile, Bharti Airtel remains its top telecom pick, with a 10-12% tariff hike expected over the next six months. — [Source](https://www.cnbctv18.com/market/stocks/vodafone-idea-fundraise-bharti-airtel-axis-capital-stock-outlook-19989313.htm)
- 2026-08-19 — MONEYCONTROL: **Supreme Court dismisses Centre’s review plea in Airtel telecom tower GST case** — Supreme Court, Delhi High Court, Bharti Airtel,  Goods and Services Tax, GST — [Source](https://www.moneycontrol.com/news/telecom/supreme-court-dismisses-centre-s-review-plea-in-airtel-telecom-tower-gst-case-14010645.html)
- 2026-08-17 — Economic Times: **Nifty takes a breather as bulls and bears watch the next move: Analysts** — The Nifty index has reached a temporary halt following a robust upward surge, positioning itself at critical support and resistance zones. Analysts are divided in their approaches: some suggest capitalizing on price dips, while others lean towards profiting from price spikes. Notably, the Bank Nifty remains strong, indicating potential for additional growth. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nifty-takes-a-breather-as-bulls-and-bears-watch-the-next-move-analysts/articleshow/133284227.cms)
- 2026-08-10 — BUSINESSTODAY: **Top stocks in news: Titan, Ola, PFC, Oil India, Kaynes, Anant Raj, Godawari Power, Akums** — Stocks in news, Stocks in buzz, Stocks to buy, Stocks to watch, Titan Company, Ola Electric Mobility, Power Finance Corporation, Oil India, Kaynes Technology India, Anant Raj, Hitachi Energy India, Raymond Realty, Azad Engineering, Godawari Power & Ispat, Akums Drugs and Pharmaceuticals, Entero Healthcare Solutions, Nitin Spinners, Ambika Cotton Mills — [Source](https://www.businesstoday.in/markets/stocks/story/top-stocks-in-news-titan-ola-pfc-oil-india-kaynes-anant-raj-godawari-power-akums-548205-2026-08-10)
- 2026-08-07 — Economic Times: **Dividend alert! Last day to buy Jio Financial, Indus Towers among 9 stocks for dividend payouts. Do you own any?** — Jio Financial Services fixed August 10 as the record date for its final dividend of Rs 0.60 per share for the financial year which ended on March 31, 2026. This comes after the company paid a dividend of Rs 0.5 per share to its shareholders last year. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/dividend-alert-last-day-to-buy-jio-financial-indus-towers-among-9-stocks-for-dividend-payouts-do-you-own-any/articleshow/133019342.cms)
- 2026-07-28 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Sensex, Nifty end flat in volatile expiry session** — Sensex Today | Stock Market LIVE Updates: We are at the halfway mark of the day's trade, and the markets are looking to maintain the momentum while being cautious. The Nifty is trading flat with a positive bias. and is holding onto 24,000. The Nifty Bank is slightly under pressure, falling over 200 points, slumping to 57,000. Tech Mahindra, TCS and Infosys are the top gainers. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-expiry-today-oil-hdfc-bank-it-cipla-bel-tejas-hul-indus-lt-share-price-liveblog-19955200.htm)
- 2026-07-28 — CNBC-TV18: **Q1 Results LIVE Updates: Ambuja Cements reports earnings; Radico Khaitan net profit rises 76%** — Q1 Results LIVE Updates: Two Nifty 50 leaders, Larsen & Toubro and Hindustan Unilever (HUL) will be reporting results today along with broader market names like Ambuja Cements, Suzlon Energy, Varun Beverages, Cholamandalam, Radico Khaitan and many others. BEL, Coal India, Home First Finance, Indus Towers, Coforge and others will be reacting to their results today. Watch this space for all the LIVE earnings updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-hul-larsen-suzlon-varun-bev-bel-coal-india-netweb-ambuja-birlasoft-supreme-indus-tata-power-chemicals-share-price-liveblog-19955220.htm)
- 2026-07-21 — CNBC-TV18: **Paytm delays bonus issue of shares - Here is a list of previous such instances** — One97 Communications Ltd., parent company of Paytm, has decided to defer its proposed bonus issue of shares as it wants to continue its focus on compounding growth and profitability for shareholder value creation. However, this is not the first instance of a company informing the stock exchanges of considering a bonus issue of shares for its shareholders and then deferring the same. Here's a prior list of some companies in the past decade: — [Source](https://www.cnbctv18.com/photos/market/paytm-delays-bonus-issue-list-of-past-instances-ntpc-ongc-bpcl-rites-share-price-19950045.htm)
- 2026-07-18 — Mint: **AMFI updates large, mid, and small-cap stock lists in July 2026: Which stocks climbed the ladder and which fell? | Mint** — AMFI's latest market-cap review has reshuffled several stocks across the large, mid and small-cap categories. While companies such as BSE, BHEL and Vodafone Idea moved up, others including Hero MotoCorp and Dr. Reddy's Laboratories slipped to lower categories based on average market capitalisation. — [Source](https://www.livemint.com/money/personal-finance/amfi-updates-large-mid-and-small-cap-stock-lists-in-july-2026-which-stocks-climbed-the-ladder-and-which-fell-11784352919510.html)
- 2026-07-16 — Mint: **Raja Venkatraman recommends three stocks for 16 July** — Market expert Raja Venkatraman shares his top stock picks for 16 July. Here’s his technical outlook and trade strategy. — [Source](https://www.livemint.com/market/raja-venkatraman-recommends-three-stocks-for-16-july-11784162200020.html)

## Business profile

**Strategic vision:** Owns, builds, and operates telecom tower infrastructure.

### Business segments
- **Tower Infrastructure Operations:** Indus Towers rents tower space to telecom operators under long-term managed service agreements, builds new towers, and provides site management, power supply, and maintenance services.

### Competitive strengths
- Extensive network of passive telecom infrastructure.

## Related stocks

- [BHARTIARTL (Telecom)](https://faxioms.com/stocks/bhartiartl) — +3.12%
- [BHARTIHEXA (Telecom)](https://faxioms.com/stocks/bhartihexa) — +3.98%
- [HFCL (Telecom)](https://faxioms.com/stocks/hfcl) — -4.67%
- [IDEA (Telecom)](https://faxioms.com/stocks/idea) — -2.11%
- [ITI (Telecom)](https://faxioms.com/stocks/iti) — +0.39%

## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/industower
Markdown representation: https://faxioms.com/stocks/industower?render=md