Indus Towers Limited (INDUSTOWER) - Net Assets

Latest as of September 2025: Rs361.01 Billion INR ≈ $3.90 Billion USD

Based on the latest financial reports, Indus Towers Limited (INDUSTOWER) has net assets worth Rs361.01 Billion INR (≈ $3.90 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs671.91 Billion ≈ $7.27 Billion USD) and total liabilities (Rs310.91 Billion ≈ $3.36 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Indus Towers Limited to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs361.01 Billion
% of Total Assets	53.73%
Annual Growth Rate	7.02%
5-Year Change	104.69%
10-Year Change	77.12%
Growth Volatility	15.39

Indus Towers Limited - Net Assets Trend (2008–2025)

This chart illustrates how Indus Towers Limited's net assets have evolved over time, based on quarterly financial data. Also explore INDUSTOWER total asset value for the complete picture of this company's asset base.

Annual Net Assets for Indus Towers Limited (2008–2025)

The table below shows the annual net assets of Indus Towers Limited from 2008 to 2025. For live valuation and market cap data, see INDUSTOWER market cap overview.

Year	Net Assets	Change
2025-03-31	Rs324.98 Billion ≈ $3.51 Billion	+20.19%
2024-03-31	Rs270.39 Billion ≈ $2.92 Billion	+28.09%
2023-03-31	Rs211.09 Billion ≈ $2.28 Billion	-4.70%
2022-03-31	Rs221.50 Billion ≈ $2.40 Billion	+39.51%
2021-03-31	Rs158.77 Billion ≈ $1.72 Billion	+17.24%
2020-03-31	Rs135.42 Billion ≈ $1.46 Billion	-6.81%
2019-03-31	Rs145.32 Billion ≈ $1.57 Billion	-14.34%
2018-03-31	Rs169.64 Billion ≈ $1.83 Billion	+9.45%
2017-03-31	Rs154.99 Billion ≈ $1.68 Billion	-15.53%
2016-03-31	Rs183.48 Billion ≈ $1.98 Billion	+7.80%
2015-03-31	Rs170.20 Billion ≈ $1.84 Billion	-5.64%
2014-03-31	Rs180.38 Billion ≈ $1.95 Billion	+4.92%
2013-03-31	Rs171.93 Billion ≈ $1.86 Billion	+18.37%
2012-03-31	Rs145.24 Billion ≈ $1.57 Billion	+3.78%
2011-03-31	Rs139.95 Billion ≈ $1.51 Billion	+2.70%
2010-03-31	Rs136.28 Billion ≈ $1.47 Billion	+31.65%
2009-03-31	Rs103.52 Billion ≈ $1.12 Billion	+0.94%
2008-03-31	Rs102.55 Billion ≈ $1.11 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Indus Towers Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 27099800000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs271.00 Billion	83.39%
Common Stock	Rs26.38 Billion	8.12%
Other Comprehensive Income	Rs298.60 Billion	91.88%
Total Equity	Rs324.98 Billion	100.00%

Indus Towers Limited Competitors by Market Cap

The table below lists competitors of Indus Towers Limited ranked by their market capitalization.

Company	Market Cap
Turkiye Petrol Rafinerileri AS IS:TUPRS	$11.70 Billion
SINGAPORE EX.UNSP.ADR/15 F:SOUU	$11.70 Billion
iA Financial Corporation Inc TO:IAG	$11.73 Billion
Gen Digital Inc. NASDAQ:GEN	$11.73 Billion
RENTOKIL INITIAL ADR/5 F:RTO	$11.68 Billion
Allegion PLC NYSE:ALLE	$11.67 Billion
James Hardie Industries plc F:JHA	$11.66 Billion
King Yuan Electronics Co Ltd TW:2449	$11.65 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Indus Towers Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 270,388,000,000 to 324,983,000,000, a change of 54,595,000,000 (20.2%).
Net income of 99,317,000,000 contributed positively to equity growth.
Share repurchases of 26,658,000,000 reduced equity.
New share issuances of 8,000,000 increased equity.
Other comprehensive income increased equity by 224,696,000,000.
Other factors decreased equity by 242,768,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs99.32 Billion	+30.56%
Share Repurchases	Rs26.66 Billion	-8.2%
Share Issuances	Rs8.00 Million	+0.0%
Other Comprehensive Income	Rs224.70 Billion	+69.14%
Other Changes	Rs-242.77 Billion	-74.7%
Total Change	Rs-	20.19%

Book Value vs Market Value Analysis

This analysis compares Indus Towers Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 3.40x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 7.55x to 3.40x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2008-03-31	Rs54.30	Rs409.95	x
2009-03-31	Rs54.81	Rs409.95	x
2010-03-31	Rs72.16	Rs409.95	x
2011-03-31	Rs74.10	Rs409.95	x
2012-03-31	Rs67.32	Rs409.95	x
2013-03-31	Rs79.69	Rs409.95	x
2014-03-31	Rs83.61	Rs409.95	x
2015-03-31	Rs78.89	Rs409.95	x
2016-03-31	Rs85.04	Rs409.95	x
2017-03-31	Rs71.84	Rs409.95	x
2018-03-31	Rs78.63	Rs409.95	x
2019-03-31	Rs67.36	Rs409.95	x
2020-03-31	Rs62.77	Rs409.95	x
2021-03-31	Rs73.59	Rs409.95	x
2022-03-31	Rs82.20	Rs409.95	x
2023-03-31	Rs78.34	Rs409.95	x
2024-03-31	Rs100.34	Rs409.95	x
2025-03-31	Rs120.61	Rs409.95	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Indus Towers Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 30.56%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 32.97%
• Asset Turnover: 0.48x
• Equity Multiplier: 1.94x
Recent ROE (30.56%) is above the historical average (13.40%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2008	0.39%	5.73%	0.04x	1.57x	Rs-9.85 Billion
2009	1.89%	3.83%	0.25x	2.00x	Rs-8.40 Billion
2010	1.86%	3.61%	0.31x	1.65x	Rs-11.10 Billion
2011	3.94%	6.49%	0.36x	1.66x	Rs-8.48 Billion
2012	5.16%	7.93%	0.40x	1.62x	Rs-7.03 Billion
2013	5.83%	9.76%	0.37x	1.61x	Rs-7.17 Billion
2014	8.41%	14.02%	0.38x	1.59x	Rs-2.86 Billion
2015	11.71%	17.08%	0.43x	1.60x	Rs2.90 Billion
2016	12.98%	19.35%	0.46x	1.47x	Rs5.47 Billion
2017	17.72%	45.15%	0.29x	1.34x	Rs11.97 Billion
2018	14.70%	37.66%	0.34x	1.16x	Rs7.97 Billion
2019	17.16%	36.53%	0.40x	1.18x	Rs10.41 Billion
2020	24.36%	48.92%	0.33x	1.49x	Rs19.44 Billion
2021	23.80%	27.08%	0.31x	2.83x	Rs21.91 Billion
2022	28.77%	22.99%	0.58x	2.17x	Rs41.58 Billion
2023	9.66%	7.19%	0.61x	2.21x	Rs-709.50 Million
2024	22.32%	21.11%	0.51x	2.07x	Rs33.32 Billion
2025	30.56%	32.97%	0.48x	1.94x	Rs66.82 Billion

Industry Comparison

This section compares Indus Towers Limited's net assets metrics with peer companies in the Telecom Services industry.

Industry Context

Industry: Telecom Services
Average net assets among peers: $30,255,678,571
Average return on equity (ROE) among peers: 7.45%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Indus Towers Limited (INDUSTOWER)	Rs361.01 Billion	0.39%	0.86x	$11.69 Billion
Bharti Hexacom Ltd (BHARTIHEXA)	$19.86 Billion	-52.06%	6.55x	$8.21 Billion
Mahanagar Telephone Nigam Limited (MTNL)	$-208.55 Billion	0.00%	0.00x	$212.44 Million
OnMobile Global Limited (ONMOBILE)	$7.67 Billion	-17.20%	0.56x	$63.55 Million
Railtel Corporation Of India Limited (RAILTEL)	$16.25 Billion	8.49%	0.26x	$1.12 Billion
Reliance Communications Limited (RCOM)	$375.81 Billion	2.47%	1.47x	$28.49 Million
ROUTE MOBILE LIMITED (ROUTE)	$703.92 Million	89.12%	2.25x	$359.14 Million
Uniinfo Telecom Services Limited (UNIINFO)	$50.72 Million	21.32%	4.85x	$1.55 Million

About Indus Towers Limited

NSE:INDUSTOWER India Telecom Services

Market Cap

$11.69 Billion

Rs1.08 Trillion INR

Market Cap Rank

#1986 Global

#75 in India

Share Price

Rs409.95

Change (1 day)

-0.95%

52-Week Range

Rs324.05 - Rs477.75

All Time High

Rs477.75