Loading…
Bharti Airtel Ltd
NSE: BHARTIARTL BSE: 532454 INE397D01024 Telecommunication Telecom 🔎 Screen
NIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 Consumption Infra
₹1,142,360 Cr
Market Cap
38.3
P/E
0.95
PEG
17.6%
ROCE
20.3%
ROE
1.31
D/E
57.0%
OPM
-14.7%
% from 52W High
49
α RS
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

Bharti Airtel Ltd is one of the world’s leading providers of telecommunication services with presence in 18 countries representing India, Sri Lanka, 14 countries in Africa.

✓ Strengths 3
  • Company has delivered good profit growth of 22.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 48.0%
  • Promoter holding has increased by 1.20% over last quarter.
! Concerns 2
  • Stock is trading at 7.49 times its book value
  • Promoter holding has decreased over last 3 years: -4.90%
Key Ratios Snapshot
📊 Sector Averages
📈 Growth Pattern
📊 Quick Scorecard
Loading…
🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
Strong quarter: consolidated revenue +5.7% QoQ and EBITDAaL margin at 51%, led by Africa and India mobile, though homes/FWA moderation was a drag. quarter Investor Presentation One-Pager? Jun 2026
Revenue
₹58,500 Cr
+5.7% QoQ; Africa +5.7% CC, India ex-infra +3.6% QoQ
EBITDA Margin
51%
EBITDAaL ₹29,800 Cr, +4.2% QoQ
Key Metric
ARPU ₹264
India mobile ARPU; benefited from extra day; postpaid net adds 1M (record)
What Went Right
  • Consolidated revenue ₹58,500 Cr (+5.7% QoQ); EBITDAaL ₹29,800 Cr with 51% margin.
  • Africa constant-currency revenue +5.7% QoQ; Airtel stake in Africa raised to >79%; Africa annualized EBITDA >₹35,000 Cr.
  • Airtel Money Q1 revenue crossed ₹3,400 Cr (>$400M), +26% YoY CC; London listing preparation targeted for H2 2026.
  • India added 3.3M revenue-earning customers and a record 1M postpaid; ARPU rose to ₹264.
  • Airtel Business revenue grew ~12% YoY to ₹5,670 Cr; digital services +6% QoQ; Airtel Cloud customers reached 33.
What to Watch
  • Homes net adds slowed to 473k as FWA acquisition quality was tightened; management admitted FWA pricing drove higher churn and weak cohort continuity.
  • FWA unit economics worsened due to memory/chipset price inflation; strategy pivoted to fiber, likely slowing near-term home broadband adds.
  • No near-term tariff hike signaled; management again stated pricing architecture 'needs repair' and unlimited-data bundles cap ARPU.
  • B2B margin outlook is negative: management guided overall B2B margins could trend slightly downward as digital/cloud mix scales.
  • PAT/net income was not disclosed on the call, so bottom-line quality could not be assessed.
Management Guidance
  • Scale data center capacity to 1 GW in the next few years, from ~120-130 MW.
  • India ARPU growth of 4-5% annually over the next 5-7 years, contingent on repairing industry pricing architecture.
  • Airtel Money London listing targeted in H2 2026.
Investor Lens
Thesis remains intact after a strong quarter: consolidated revenue grew 5.7% QoQ, EBITDAaL margin held at 51%, and operating FCF was ₹16,450 Cr. Africa is compounding nicely (constant-currency revenue +5.7% QoQ), and Airtel Money's 26% CC growth supports the planned London listing. India mobile ARPU climbed to ₹264 with record postpaid adds, but homes deceleration (473k net adds) and the FWA quality pivot suggest management is deliberately trading volume for durability. The B2B mix shift toward digital/cloud may pressure margins even as revenue accelerates, and the absence of tariff reform keeps long-term ARPU growth capped until the industry changes. Watch next quarter for fiber/FWA reacceleration, data center build updates, and any movement on pricing architecture; with net debt/EBITDAaL at ~0.7x, the balance sheet can fund these bets.
From investor presentation · AI-generated analysis · Not investment advice
🔒
Premium Feature
Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance
Upgrade to Premium
Already a member? Log in
📈 STRONG Revenue up 18%, PAT jumps 35% to ₹10,012 Cr in strong quarter
Revenue
Revenue grew 18.3% YoY to ₹58,539 Cr, with a sequential increase of 5.7% from ₹55,400 Cr in Mar 2026. This indicates robust business momentum across the telecom operations.
Profitability
Net profit rose sharply by 34.9% YoY to ₹10,012 Cr, while sequentially it was up 8.3%. EPS improved to ₹13.09 from ₹10.43 in the same quarter last year, reflecting strong earnings growth.
Margins
Operating profit margin expanded to 57% from 56% a year ago. Operating profit increased 19.6% YoY to ₹33,303 Cr, driven by revenue growth and operating leverage.
Balance Sheet
Debt-to-equity stands at 1.31, indicating elevated leverage. ROCE and ROE are healthy at 17.6% and 20.3% respectively, though the balance sheet remains a key monitorable.
Key Risks
High depreciation (₹14,235 Cr) and interest costs (₹5,956 Cr) weigh on profitability. The stock trades at a PE of 44.43, leaving limited room for earnings misses. Elevated D/E of 1.31 raises refinancing risk if rates stay high.
Outlook
Continued double-digit revenue growth and margin expansion indicate strong operating fundamentals. However, sustaining tariff-driven growth and managing debt levels will be crucial for future performance.
Generated by AI · Jun 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Documents.

Access concall transcripts, annual reports, credit ratings, and investor presentations.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, SAST trigger, pledge change, concall, and corporate action for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Forensic Report.

A filings-based disclosure review of this company's most recent Annual Report — Accounting Quality Signals, Related Party Disclosures, Auditor Signals, and Governance Watchpoints, generated with your own AI key.

Upgrade to PremiumCreate Free Account

Revenue by Segment

Segment Q4FY26 Trend
Airtel Business
5,490
EBIT 1,657
Digital TV Services
747
EBIT -84
Homes Services
2,191
EBIT 317
Inter-segment eliminations
0
EBIT -1,068
Mobile Services Africa
16,034
EBIT 5,409
Mobile Services India
28,831
EBIT 9,435
Mobile Services South Asia
0
EBIT 0
Others
93
EBIT 93
Passive Infrastructure Services
8,201
EBIT 2,765
Total 61,587

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

📊 Sector KPIs

Industry-specific KPIs with historical trend — AI-extracted from investor presentations
🔒
Premium Feature
Industry-specific KPIs with historical trend across quarters — AI-extracted from investor presentations
Upgrade to Premium
Already a member? Log in

💼 Management Guidance

Revenue, loan book, NIM and other management targets — with hit/miss tracking
🔒
Premium Feature
Management guidance targets with historical hit/miss tracking — unlocked with Premium
Upgrade to Premium
Already a member? Log in

🎯 Thesis Tracker

Guidance vs Delivery — management track record
🔒
Premium Feature
Management guidance vs actual delivery — track whether revenue & PAT targets were Beat, Met or Missed across every reporting year
Upgrade to Premium
Already a member? Log in
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including equities and mutual funds, involves inherent risks, including the potential loss of principal. All investments are subject to market fluctuations, regulatory changes, and other risks that may affect their value. Past performance is not indicative of future results. This report is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This report does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a SEBI-registered investment adviser or other qualified financial professional before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities or financial instruments discussed in this report. Any such positions, if material, are disclosed to the best of the author's knowledge and are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company, institution, or third party.

Information Sources:
The analysis and opinions expressed herein are based on publicly available information, including but not limited to company filings with the BSE/NSE, annual reports, management commentary, investor presentations, data from the Reserve Bank of India (RBI), SEBI, industry publications, and other reliable financial data sources. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This report may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. The author does not undertake any obligation to update such statements in the future.

Regulatory Compliance:
This report is intended to comply with the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, as amended, and other applicable Indian laws and regulations.

Limitation of Liability:
The content of this report is provided "as is" without any warranties, express or implied, including accuracy, completeness, merchantability, or fitness for a particular purpose. The author and publisher expressly disclaim any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.