GTLINFRA
GTL Infrastructure Limited
Telecom tower infrastructure leasing services across India
Telecommunication›Telecommunication›Telecom - Services›Telecom - Infrastructure
gtlinfra.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹1.04
Market cap
1,332 Cr
Stock P/E
1.2
ROCE (FY26)
48.3%
Operating margin (FY26)
7.1%
OCF / EBITDA (FY26)
160.3%
OCF / EBITDA (3Y)
139.9%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
GTL Infra (GTL Infrastructure) provides shared telecom towers in India to telecom operators, earning its revenue from tenancies on those towers.
Company snapshot
4thBy market cap
Ranked among 5 companies in Telecom - Infrastructure.
What we see
Positives
- ✓Net margin of 56.8% — the business keeps a healthy share of every rupee it earns.
Concerns
- ✗Interest coverage of 0.2x — earnings barely cover interest payments, which is a warning sign.
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Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 351 Cr | 338 Cr | 331 Cr | 332 Cr | 336 Cr | 338 Cr | 337 Cr | 335 Cr | 356 Cr | 351 Cr | 330 Cr | 327 Cr |
| Operating expenses (approx.) | 236 Cr | 263 Cr | 291 Cr | 258 Cr | 271 Cr | 248 Cr | 291 Cr | 255 Cr | 243 Cr | 256 Cr | 281 Cr | 185 Cr |
| EBITDA | 115 Cr | 75 Cr | 40 Cr | 74 Cr | 65 Cr | 91 Cr | 46 Cr | 80 Cr | 113 Cr | 95 Cr | 50 Cr | 143 Cr |
| OPM % | 32.7% | 22.1% | 12.2% | 22.3% | 19.4% | 26.8% | 13.6% | 23.9% | 31.8% | 27.0% | 15.1% | 43.6% |
| Other income | 4 Cr | 4 Cr | 3 Cr | 5 Cr | 10 Cr | 3 Cr | 3 Cr | 5 Cr | 19 Cr | 8 Cr | 15 Cr | 5 Cr |
| Interest | 206 Cr | 193 Cr | 210 Cr | 220 Cr | 229 Cr | 241 Cr | 238 Cr | 253 Cr | 265 Cr | 26 Cr | 22 Cr | 23 Cr |
| Depreciation | 82 Cr | 80 Cr | 33 Cr | 61 Cr | 60 Cr | 63 Cr | 60 Cr | 64 Cr | 60 Cr | 57 Cr | 55 Cr | 56 Cr |
| Profit before tax | -170 Cr | -195 Cr | -215 Cr | -202 Cr | -214 Cr | -210 Cr | -249 Cr | -232 Cr | -193 Cr | 20 Cr | 1,186 Cr | 69 Cr |
| Tax % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net profit | -170 Cr | -195 Cr | -215 Cr | -202 Cr | -214 Cr | -210 Cr | -249 Cr | -232 Cr | -193 Cr | 20 Cr | 1,186 Cr | 69 Cr |
| EPS (₹) | ₹-0.13 | ₹-0.15 | ₹-0.16 | ₹-0.15 | ₹-0.16 | ₹-0.16 | ₹-0.19 | ₹-0.18 | ₹-0.15 | ₹0.01 | ₹0.91 | ₹0.05 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,283 Cr | 2,333 Cr | 1,500 Cr | 1,417 Cr | 1,410 Cr | 1,463 Cr | 1,458 Cr | 1,372 Cr | 1,344 Cr | 1,372 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,291 Cr | 1,619 Cr | 1,317 Cr | 1,155 Cr | 1,140 Cr | 1,051 Cr | 1,430 Cr | 1,006 Cr | 1,068 Cr | 1,038 Cr | Sign in free for the trailing twelve months |
| EBITDA | 992 Cr | 714 Cr | 184 Cr | 262 Cr | 269 Cr | 412 Cr | 28 Cr | 366 Cr | 276 Cr | 334 Cr | Sign in free for the trailing twelve months |
| OPM % | 43.5% | 30.6% | 12.2% | 18.5% | 19.1% | 28.1% | 1.9% | 26.7% | 20.5% | 24.3% | Sign in free for the trailing twelve months |
| Other income | 26 Cr | 183 Cr | 12 Cr | 20 Cr | 39 Cr | 14 Cr | 27 Cr | 51 Cr | 22 Cr | 47 Cr | Sign in free for the trailing twelve months |
| Interest | 1,024 Cr | 570 Cr | 534 Cr | 662 Cr | 663 Cr | 734 Cr | 782 Cr | 805 Cr | 929 Cr | 563 Cr | Sign in free for the trailing twelve months |
| Depreciation | 743 Cr | 800 Cr | 624 Cr | 634 Cr | 547 Cr | 503 Cr | 504 Cr | 278 Cr | 244 Cr | 237 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -1,399 Cr | -1,893 Cr | -1,539 Cr | -1,864 Cr | -1,271 Cr | -1,475 Cr | -1,817 Cr | -681 Cr | -875 Cr | 779 Cr | Sign in free for the trailing twelve months |
| Tax % | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | Sign in free for the trailing twelve months |
| Net profit | -1,399 Cr | -1,893 Cr | -1,539 Cr | -1,864 Cr | -1,271 Cr | -1,475 Cr | -1,817 Cr | -681 Cr | -875 Cr | 779 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-1.90 | ₹-1.60 | ₹-1.21 | ₹-1.46 | ₹-1.00 | ₹-1.14 | ₹-1.41 | ₹-0.52 | ₹-0.67 | ₹0.60 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | — | — | — | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 2,460 Cr | 12,125 Cr | 12,319 Cr | 12,319 Cr | 12,497 Cr | 12,623 Cr | 12,671 Cr | 12,807 Cr | 12,809 Cr | 12,809 Cr |
| Reserves | -2,750 Cr | -8,915 Cr | -10,649 Cr | -12,512 Cr | -13,784 Cr | -15,369 Cr | -17,212 Cr | -17,894 Cr | -18,770 Cr | -18,024 Cr |
| Borrowings | 7,749 Cr | 4,596 Cr | — | — | — | 4,030 Cr | 3,671 Cr | 3,340 Cr | 3,193 Cr | 5,416 Cr |
| Other liabilities | 3,418 Cr | 939 Cr | 5,895 Cr | 7,623 Cr | 7,734 Cr | 4,270 Cr | 5,141 Cr | 5,953 Cr | 6,885 Cr | 2,924 Cr |
| Total liabilities | 10,876 Cr | 8,746 Cr | 7,566 Cr | 7,430 Cr | 6,447 Cr | 5,555 Cr | 4,271 Cr | 4,206 Cr | 4,117 Cr | 3,125 Cr |
| Fixed assets (net) | 9,284 Cr | 7,945 Cr | 6,762 Cr | 6,433 Cr | 5,483 Cr | 4,525 Cr | 3,189 Cr | 2,977 Cr | 2,816 Cr | 2,667 Cr |
| CWIP | 84 Cr | 42 Cr | 36 Cr | 31 Cr | 28 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Investments | 60 Cr | 140 Cr | 44 Cr | 92 Cr | 95 Cr | 96 Cr | 99 Cr | 103 Cr | 55 Cr | 0 Cr |
| Loans & advances | — | — | 37 Cr | 16 Cr | 22 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 97 Cr |
| Inventories | 0.50 Cr | 4 Cr | 3 Cr | 3 Cr | 4 Cr | 5 Cr | 4 Cr | 4 Cr | 4 Cr | 3 Cr |
| Trade receivables | 143 Cr | 74 Cr | 108 Cr | 79 Cr | 105 Cr | 86 Cr | 131 Cr | 316 Cr | 82 Cr | 41 Cr |
| Cash & bank | 71 Cr | 139 Cr | 66 Cr | 219 Cr | 437 Cr | 489 Cr | 496 Cr | 412 Cr | 829 Cr | 116 Cr |
| Other assets | 1,235 Cr | 403 Cr | 510 Cr | 557 Cr | 273 Cr | 353 Cr | 351 Cr | 394 Cr | 332 Cr | 201 Cr |
| Total assets | 10,876 Cr | 8,746 Cr | 7,566 Cr | 7,430 Cr | 6,447 Cr | 5,555 Cr | 4,271 Cr | 4,206 Cr | 4,117 Cr | 3,125 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 1,239 Cr | 705 Cr | 264 Cr | 436 Cr | 419 Cr | 503 Cr | 497 Cr | 194 Cr | 635 Cr | 535 Cr |
| Cash from investing | -329 Cr | -228 Cr | 102 Cr | -64 Cr | -40 Cr | -64 Cr | -37 Cr | -12 Cr | 37 Cr | 8 Cr |
| Cash from financing | -927 Cr | -408 Cr | -438 Cr | -220 Cr | -161 Cr | -387 Cr | -453 Cr | -267 Cr | -255 Cr | -1,256 Cr |
| Net cash flow | -16 Cr | 68 Cr | -73 Cr | 152 Cr | 218 Cr | 52 Cr | 8 Cr | -85 Cr | 417 Cr | -713 Cr |
| Free cash flow (OCF − Capex) | 844 Cr | 507 Cr | 212 Cr | 382 Cr | 365 Cr | 416 Cr | 431 Cr | 161 Cr | 585 Cr | 474 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | -17.0% | -60.2% | — | — | -58.8% | — | — | — | 48.3% |
| ROE % | — | -59.0% | -92.2% | — | — | — | — | — | — | — |
| Debtor days | 23 | 12 | 26 | 20 | 27 | 22 | 33 | 84 | 22 | 11 |
| Inventory days | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Days payable | 11 | 3 | 5 | 4 | 5 | 7 | 11 | 9 | 7 | 2 |
| Cash conversion cycle | 12 | 9 | 22 | 17 | 23 | 15 | 23 | 77 | 17 | 10 |
| OCF / EBITDA % | 124.8% | 98.6% | 143.6% | 166.3% | 155.6% | 122.3% | n.m. | 53.1% | 230.4% | 160.3% |
| OCF / EBITDA % (3 years) | — | — | 116.8% | 121.0% | 156.5% | 144.0% | 200.3% | 148.4% | 198.3% | 139.9% |
| Debt / equity | — | 1.43 | — | — | — | — | — | — | — | — |
| Current ratio | 0.21 | 0.86 | 0.11 | 0.12 | 0.11 | 0.11 | 0.10 | 0.11 | 0.12 | 0.09 |
| Net debt / EBITDA | 7.74 | — | -0.36 | -0.83 | -1.62 | 8.60 | 114.76 | 8.00 | 8.57 | 15.87 |