Indus Towers Limited has informed the Exchange regarding Transcripts of the Earnings Call on the Company s performance for the first quarter (Q1) ended June 30, 2025
INDUSTOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indus Towers reported Q1 FY26 gross revenue of INR 80.6 billion, up 9.1% year-on-year, driven by addition of 2,468 macro towers and 5,777 co-locations (11.4% and 9.7% YoY growth respectively). Core rental revenue rose 10.1% YoY to INR 51.1 billion, but reported EBITDA fell 3.4% YoY to INR 43.9 billion (margin at 54.5%) due to base-quarter write-backs of overdue receivables worth INR 7.6 billion and a 10% YoY rise in diesel usage from early monsoons. On an adjusted basis, EBITDA grew 13.6% YoY and PAT grew 23% YoY to INR 17.4 billion, with ROCE at 28.1% and ROE at 30.8%. The Board has decided to defer cash distributions to shareholders in the short term, citing elevated capex, industry consolidation opportunities, and customer stability, with a reassessment planned by year-end. Management confirmed a strong order book with visibility for robust tower additions over the next 4-6 quarters.
Negative for income-focused shareholders in the near term due to the dividend deferral, though underlying business momentum stays healthy with strong tenancy additions, improving energy margins (energy margin loss narrowed 160 bps YoY), and capital returns still possible once the Board reviews at FY26-end. Stock sentiment may weigh on dividend expectations, but continued co-location growth and a clear inorganic growth pipeline (further tower industry consolidation) provide medium-term support.