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INDUSTOWER - Fundamental Analysis: Financial Health & Valuation

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Rating: 4

Last Updated Time : 02 Feb 26, 01:08 pm

Fundamental Rating: 4.0

Stock Code INDUSTOWER Market Cap 1,11,933 Cr. Current Price 424 ₹ High / Low 455 ₹
Stock P/E 12.0 Book Value 137 ₹ Dividend Yield 0.00 % ROCE 29.0 %
ROE 32.4 % Face Value 10.0 ₹ DMA 50 416 ₹ DMA 200 387 ₹
Chg in FII Hold -0.29 % Chg in DII Hold 0.71 % PAT Qtr 1,837 Cr. PAT Prev Qtr 1,734 Cr.
RSI 49.7 MACD 3.35 Volume 51,67,207 Avg Vol 1Wk 80,25,080
Low price 313 ₹ High price 455 ₹ PEG Ratio 0.74 Debt to equity 0.58
52w Index 78.2 % Qtr Profit Var -17.4 % EPS 35.4 ₹ Industry PE 14.6

📊 Core Financials

  • Revenue & Profitability: PAT improved from 1,734 Cr. to 1,837 Cr. QoQ, though quarterly profit variation shows -17.4%, indicating some earnings pressure.
  • Margins: ROE at 32.4% and ROCE at 29.0% are excellent, reflecting strong efficiency and shareholder returns.
  • Debt: Debt-to-equity ratio of 0.58 is moderate, manageable for a capital-intensive business.
  • Cash Flow: Dividend yield of 0.00% suggests reinvestment focus, with no direct shareholder payout.

💹 Valuation Indicators

  • P/E Ratio: 12.0 vs Industry PE of 14.6 → undervalued compared to peers.
  • P/B Ratio: Current Price (424 ₹) / Book Value (137 ₹) ≈ 3.09, moderately expensive relative to book value.
  • PEG Ratio: 0.74 indicates valuation is reasonable relative to growth prospects.
  • Intrinsic Value: Current price near DMA 50 (416 ₹) and above DMA 200 (387 ₹), suggesting technical strength and fair valuation.

🏦 Business Model & Competitive Advantage

  • Indus Towers operates as India’s largest telecom tower infrastructure provider, enabling mobile connectivity across the country.
  • Competitive advantage lies in scale, long-term contracts with telecom operators, and strong market positioning.
  • Overall health is robust, with high returns and moderate leverage, though earnings volatility needs monitoring.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive entry between 410 ₹ – 430 ₹, near support levels.
  • Long-Term Holding: Suitable for investors seeking telecom infrastructure exposure, with strong fundamentals and undervaluation relative to peers.

✅ Positive

  • Strong ROE (32.4%) and ROCE (29.0%).
  • Undervalued compared to industry PE (12.0 vs 14.6).
  • Moderate debt-to-equity ratio (0.58).
  • Consistent PAT growth despite sector challenges.

⚠️ Limitation

  • Dividend yield of 0.00% limits shareholder reward.
  • P/B ratio (3.09) indicates moderately expensive valuation.
  • Quarterly profit variation (-17.4%) shows earnings inconsistency.

📉 Company Negative News

  • FII holdings decreased (-0.29%), showing reduced foreign investor confidence.
  • High earnings volatility despite strong fundamentals.

📈 Company Positive News

  • DII holdings increased (+0.71%), reflecting strong domestic institutional support.
  • PAT improved QoQ, showing operational strength.

🏭 Industry

  • Industry PE at 14.6 is higher than Indus Towers’ PE, highlighting undervaluation.
  • Telecom infrastructure sector growth driven by rising data consumption and 5G rollout.
  • Indus Towers benefits from scale and long-term contracts with major telecom operators.

🔎 Conclusion

  • Indus Towers offers strong fundamentals with excellent return ratios and moderate leverage.
  • Valuation is attractive compared to industry peers, making it a good long-term holding.
  • Best suited for investors entering near 410–430 ₹, with potential upside as telecom demand and 5G expansion accelerate.

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