अFunda Observatory

BHARTI AIRTEL LTD vs INDUS TOWERS LIMITED

BHARTIARTL and INDUSTOWER. Monthly data through 2026-10-14. Change the comparison →

Price, rebased to 100

Share price change since Jan '19, the first month all 2 have a price: BHARTIARTL +499%, INDUSTOWER +35%.

49266483700Jan '19Aug '20Mar '22Oct '23May '25Oct '2649266483700Jan '19Aug '21Mar '24Oct '26

Rebased at 2019-01. Monthly closes from each company's history.

ROCE

3.0%11.7%20.3%29.0%Jan '19Aug '20Mar '22Oct '23May '25Oct '263.0%11.7%20.3%29.0%Jan '19Aug '21Mar '24Oct '26
BHARTI AIRTEL LTD (BHARTIARTL)INDUS TOWERS LIMITED (INDUSTOWER)

Months with a missing value are left as gaps.

Where the return came from

The share price return over 3 years, split into net profit growth, share count change and the change in P/E.

BHARTIART Net profit growth: +155 pts+155 ptsShare count change: +13 ptsP/E change: -72 pts-72 pts +97% INDUSTOWE Net profit growth: +196 pts+196 ptsShare count change: +3 ptsP/E change: -70 pts-70 pts +129%
Net profit growthShare count changeP/E changeUnexplained

BHARTIARTL: share price rose 97% over 3 years: +155 pts from net profit growth, −72 pts from the P/E change, +13 pts from share count change.

INDUSTOWER: share price rose 129% over 3 years: +196 pts from net profit growth, −70 pts from the P/E change, +3 pts from share count change.

Segments are percentage points of the price return: price = P/E × net profit ÷ share count. These are the same numbers each company's own page shows.

Rank within sector, month by month

Each cell is the company's percentile rank among its own sector peers that month. Darker is higher-ranked. Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

BHARTI AIRTEL LTD (BHARTIARTL) · Communications

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '212023202420252026Oct '26
Lower rank Higher rank

INDUS TOWERS LIMITED (INDUSTOWER) · Communications

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '212023202420252026Oct '26
Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value.

Latest snapshot

MetricBHARTIARTLINDUSTOWER
Share Price₹1801.90₹380.50
Market Cap₹11.25L cr₹1.01L cr
P/E37.0x14.0x
P/B7.5x2.5x
P/S5.1x3.1x
ROCE18.0%19.0%
ROE20.4%18.1%
Operating margin57.0%53.0%
Revenue (TTM), indexed to 100₹2.20L cr₹32866 cr
Net Profit (TTM)₹36413 cr₹7154 cr
Debt / Equity1.3x0.5x
Cash Conversion Cycle14d55d
Promoter holding50.1%51.3%
FII Holding26.5%23.2%
DII Holding20.6%21.4%
12M momentum-12.3%8.6%
Drawdown from Peak-14.4%-13.9%
Cash conversion (3Y)3.7x2.0x
Interest cover3.2x7.3x
Share Count Change (1Y)5.1%0.0%
Volatility (1Y)21.1%26.7%

Latest month in the data: 2026-10. Highlight marks the higher value, or the lower value for P/E, P/B, P/S, debt, working-capital days, share count change and volatility. It marks a number, not a better investment.

Comparison is descriptive and historical. Highlights mark the higher or lower value on a metric, not a better investment. Not investment advice; ApnaFunda is not a SEBI-registered research analyst.