Indus Towers (INDUSTOWER) Q4 2025 earnings summary

Executive summary

• Achieved record tower and tenancy additions, maintaining a leading market share and operational excellence.

• Cleared INR 51 billion in overdue receivables from a major customer, significantly improving cash flows.

• Acquired approximately 12,606 towers from Bharti Airtel, strengthening the portfolio and enabling future growth; accounted as a common control transaction.

• Demonstrated strong ESG progress, including solar site expansion and increased gender diversity.

• Board formed a committee to assess shareholder cash distribution options, including dividends, buybacks, and bonuses.

Financial highlights

• FY25 gross revenue: INR 301.2 billion, up 5.3% year-on-year; Q4 revenue: INR 77.3 billion, up 7.4% year-on-year.

• FY25 EBITDA: INR 208.4 billion, up 41.9% year-on-year; Q4 EBITDA: INR 44 billion, up 7.1% year-on-year.

• FY25 profit after tax: INR 99.3 billion, up 64.5% year-on-year; Q4 profit after tax: INR 17.8 billion, down 4% year-on-year.

• Free cash flow: INR 98.5 billion for FY25; operating free cash flow: INR 104.3 billion, up 472% year-on-year.

• Capex for FY25 was INR 68.7 billion, down 29.2% year-on-year.

Outlook and guidance

• Positioned to benefit from ongoing 5G rollouts, rising data consumption, and industry consolidation.

• Expect continued strong tower and tenancy growth, with focus on both organic and inorganic expansion.

• Management expects continued momentum, leveraging network expansion and strategic opportunities.

• Board committee to decide on cash distribution to shareholders in the near term.