Indus Towers Limited — Others, 29-05-2025: CREDIT RATING REVISION

Indus Towers has announced a rating reaffirmation with a positive outlook by ICRA, reflecting improved liquidity and credit profiles. Strong collections, including clearance of past dues from key customers, helped reduce external debt to Rs. 2,262 Cr while maintaining healthy operating margins. The company manages a leading portfolio of 2,49,305 towers with a tenancy ratio of 1.63 and benefits from stable revenue through long-term contracts with telcos. Despite a high planned capex of Rs. 8,699 Cr in FY2025 for network expansion and maintenance, debt levels remain manageable due to strong cash flows. The focus on renewable energy and net-zero emissions by 2050 aligns with sustainability goals.