Indus Towers cash flow

Latest FY26

Cash from operations: ₹15,684cr−20.2% on FY25
Capital spending: ₹8,626cr+27.1% on FY25
Free cash flow: ₹7,058cr−45.1% on FY25
Cash from financing: −₹5,588cr−₹8,648 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	7,141	6,402	6,060	5,324
	—	1,893	1,858	1,864	1,670
	—	−341	−418	−643	−78.0
	—	0.0	−5,647	−622	5,120
	—	−343	−269	−285	−266
	—	−744	0.0	0.0	0.0
	—	−19.2	−7.6	0.0	0.0
	—	97.7	6,770	−1,505	−3,118
	—	−198	−259	−324	−874
	—	−263	−127	−126	−75.7
	—	299	−449	−62.9	−34.7
	—	144	−32.3	−28.2	−14.7
	—	279	225	186	−42.6
	—	−66.0	24.7	6.2	3.0
	—	−24.4	−26.5	−21.0	−224
	—	72.6	−62.7	178	−99.1
	—	128	366	637	70.4
	—	13.6	10.1	6.4	14.1
	—	10.6	8.1	9.2	−9.0
Cash from operating activities
	9,544	9,598	13,154	8,122	2,759
	—	8,079	8,366	5,330	7,365
	—	17,677	21,520	13,452	10,124
	—	1,993	1,875	1,870	2,219
	—	15,684	19,645	11,582	7,905
Cash from investing activities
	—	8,626	6,784	8,953	3,623
	—	728	527	506	455
	—	0.0	0.0	275	0.0
	—	10.4	0.0	2.8	0.0
	—	0.0	2.8	0.0	0.0
	—	0.0	1,829	0.0	0.0
	—	197	284	626	57.8
	—	−2,487	−3,112	2.4	1,380
	—	−10,198	−10,911	−7,546	−1,730
Cash from financing activities
	—	0.7	0.8	0.0	0.0
	—	0.0	2,775	13.0	0.0
	—	0.0	6,258	8,556	12,932
	—	1,342	8,309	8,958	13,698
	—	2,513	3,547	3,173	3,028
	—	1,708	276	407	367
	—	0.0	0.0	0.0	2,964
	—	−26.3	0.0	0.0	−7.5
	—	−5,588	−8,648	−3,996	−7,133
	—	−102	86.6	40.7	−958
	—	−102	86.6	40.7	−958
	—	47.3	150	63.1	22.4
Reference items
	18,377	18,155	20,650	14,557	9,669
	55.4%	55.9%	68.6%	50.9%	34.1%
	7,058	7,058	12,861	2,629	4,282
	—	4,009	10,535	1,822	—
	₹26.75	₹26.75	₹48.75	₹9.97	₹16.23
	14.23×	—	—	—	—
	—	2.20×	1.98×	1.92×	3.87×
	—	1,993	1,875	1,870	2,219
	—	1,708	276	407	367

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

INDUSTOWER₹380.85

Indus Towers Ltd.

· Telecom & Media

₹ CrorePeersBHARTIARTL IDEA TATACOMM BHARTIHEXA ITI HFCL RAILTEL TEJASNETMcap ₹1.00L Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	5,323.9	6,059.9	6,402.1	7,140.8	—
+ Finance Costs	1,670.4	1,863.8	1,857.9	1,893.0	—
+ Interest Income	-78.0	-642.6	-417.9	-341.4	—
+ Other Non-cash Items	5,119.6	-622.3	-5,647.2	0.0	—
+ Other — Cash Effects are Investing / Financing	-266.4	-284.6	-268.7	-343.1	—
+ Other Reconciling Items	0.0	0.0	0.0	-744.1	—
Changes in Working Capital
+ Inventories	0.0	0.0	-7.6	-19.2	—
+ Trade Receivables — Current	-3,118.4	-1,505.2	6,770.0	97.7	—
+ Other Financial Assets — Current	-874.3	-323.8	-258.5	-198.2	—
+ Other Financial Assets — Non-current	-75.7	-126.2	-126.7	-262.7	—
+ Other Current Assets	-34.7	-62.9	-449.4	299.1	—
+ Other Non-current Assets	-14.7	-28.2	-32.3	144.4	—
+ Trade Payables — Current	-42.6	186.2	224.8	278.5	—
+ Other Financial Liabilities — Current	3.0	6.2	24.7	-66.0	—
+ Other Financial Liabilities — Non-current	-223.8	-21.0	-26.5	-24.4	—
+ Other Current Liabilities	-99.1	177.8	-62.7	72.6	—
+ Other Non-current Liabilities	70.4	637.0	365.7	127.9	—
+ Provisions — Current	14.1	6.4	10.1	13.6	—
+ Provisions — Non-current	-9.0	9.2	8.1	10.6	—
Cash from Operating Activities
Profit Before Tax (per I/S)	2,759.3	8,122.4	13,153.7	9,597.8	9,544.2
+ Total Adjustments (incl. Working Capital)	7,364.7	5,329.7	8,365.9	8,079.1	—
Cash from Operations (pre-tax)	10,124.0	13,452.1	21,519.6	17,676.9	—
+ Income Taxes Paid	2,219.2	1,870.0	1,874.6	1,992.9	—
Cash from Operating Activities	7,904.8	11,582.1	19,645.0	15,684.0	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	3,622.6	8,952.9	6,784.0	8,625.8	—
+ Disp of Fixed Assets	454.5	506.4	526.9	727.9	—
+ Disp of Other Long-term Assets	0.0	275.0	0.0	0.0	—
+ Purchase of Investments (Equity / Debt)	0.0	2.8	0.0	10.4	—
+ Sale of Investments (Equity / Debt)	0.0	0.0	2.8	0.0	—
+ Acq of Subsidiaries / Businesses (net)	0.0	0.0	1,828.8	0.0	—
+ Interest Received — Investing	57.8	626.1	284.1	197.1	—
+ Other Inflows / (Outflows) — Investing	1,380.3	2.4	-3,111.5	-2,487.1	—
Cash from Investing Activities	-1,730.0	-7,545.8	-10,910.5	-10,198.3	—
Cash from Financing Activities
+ Proceeds from Exercise of Stock Options	0.0	0.0	0.8	0.7	—
+ Buyback / Redemption of Own Shares	0.0	13.0	2,774.5	0.0	—
+ Proceeds from Borrowings	12,931.5	8,555.8	6,258.4	0.0	—
+ Repayment of Borrowings	13,698.4	8,958.4	8,309.1	1,341.8	—
+ Payment of Lease Liabilities	3,027.8	3,173.4	3,547.3	2,513.1	—
+ Interest Paid	366.6	406.6	276.2	1,707.6	—
+ Dividends Paid	2,963.8	0.0	0.0	0.0	—
+ Other Inflows / (Outflows) — Financing	-7.5	0.0	0.0	-26.3	—
Cash from Financing Activities	-7,132.6	-3,995.6	-8,647.9	-5,588.1	—
Net Changes in Cash (pre-FX)	-957.8	40.7	86.6	-102.4	—
Net Changes in Cash	-957.8	40.7	86.6	-102.4	—
Closing Cash	22.4	63.1	149.7	47.3	—
Reference Items
EBITDA	9,668.6	14,556.6	20,650.0	18,154.6	18,376.9
EBITDA Margin %	34.07	50.90	68.55	55.87	55.36
Free Cash Flow (CFO − Capex)	4,282.2	2,629.2	12,861.0	7,058.2	7,058.2
Free Cash Flow to Equity	—	1,821.8	10,535.4	4,009.1	—
Free Cash Flow per Basic Share	16.23	9.97	48.75	26.75	26.75
Price to Free Cash Flow	—	—	—	—	14.23
Cash Flow to Net Income	3.87	1.92	1.98	2.20	—
Cash Paid for Taxes	2,219.2	1,870.0	1,874.6	1,992.9	—
Cash Paid for Interest	366.6	406.6	276.2	1,707.6	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.