Indus Towers Q4 Review - Short-Term Fine, Medium-Term Uncertain: Dolat Capital
A cell phone tower (Photographer: Aaron Harris/Bloomberg News)

Indus Towers Q4 Review - Short-Term Fine, Medium-Term Uncertain: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Indus Towers Ltd. Q4 FY21 operating performance was marginally better led by higher tower/tenants additions.

Ebitda was better than expected due to lower other expenses. Revenue/Ebitda/adjusted profit after tax grew by 2.9/19.6 /38.3% YoY.

Negative energy spread for fourth quarter is a dampener.

The medium-term risk for the company are with-respect-to survivability of Vodafone Idea Ltd. and/or reduction in rental/tenant.

Shutdown of Vodafone Idea may significantly impact the business of the company.

It may lead to approximately 40-45% reduction in tenancies in our view (partly absorbed by competing telcos) but with severe impact on profitability.

Click on the attachment to read the full report:

Dolat Capital Indus Towers Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.