Bharti Airtel Ltd

₹ 2,107 -0.29%

06 Nov 12:29 p.m.

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. ^[1]

Key Points

Segments & Presence^[1]
Mobile, Broadband, DTH and Bank.
The company has operations in India, Africa, Bangladesh and Sri Lanka.

Website BSE NSE

Market Cap ₹ 12,63,982 Cr.
Current Price ₹ 2,107
High / Low ₹ 2,136 / 1,511
Stock P/E 39.3
Book Value ₹ 207
Dividend Yield 0.76 %
ROCE 13.5 %
ROE 23.2 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 31.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 38.8%

Cons

Stock is trading at 10.1 times its book value
Promoter holding has decreased over last quarter: -0.98%
Tax rate seems low

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Telecommunication Telecommunication Telecom - Services Telecom - Cellular & Fixed line services

Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200 BSE Teck Nifty 500 Nifty 100 Nifty Infrastructure Nifty Services Sector Nifty India Consumption Nifty 200 Nifty Low Volatility 50 Nifty Alpha 50 Nifty 100 Liquid 15 Nifty 100 Equal Weight BSE Allcap BSE LargeCap BSE Telecommunication BSE SENSEX 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Low Volatility Index BSE Momentum Index Nifty 50 Equal Weight Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty200 Momentum 30 Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty India Digital Index Nifty Total Market Nifty Alpha Low-Volatility 30 Nifty200 Alpha30 Nifty500 Multicap Infrastructure 50:30:20 Nifty Midsmallcap400 Momentum Quality 100 Nifty 100 Alpha 30 Index Nifty India New Age Consumption Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	34,527	35,804	36,009	37,440	37,044	37,900	37,599	38,506	41,473	45,129	47,876	49,463	52,145
	16,933	17,720	17,312	17,842	17,530	18,085	18,234	18,799	19,627	20,533	20,867	21,624	22,584
Operating Profit	17,594	18,085	18,697	19,598	19,514	19,815	19,365	19,708	21,846	24,597	27,009	27,839	29,561
OPM %	51%	51%	52%	52%	53%	52%	52%	51%	53%	54%	56%	56%	57%
	559	-412	886	-2,478	-654	1,013	-1,308	2,010	475	9,675	403	592	809
Interest	4,940	4,686	5,163	5,614	5,186	6,645	5,203	5,152	5,424	5,676	5,502	5,461	4,866
Depreciation	8,947	9,298	9,406	9,654	9,734	10,074	10,075	10,540	11,000	11,704	12,326	12,465	13,182
Profit before tax	4,265	3,689	5,014	1,853	3,940	4,108	2,778	6,025	5,897	16,892	9,584	10,504	12,322
Tax %	30%	29%	16%	18%	47%	30%	26%	22%	30%	4%	-30%	29%	30%
	2,979	2,614	4,226	1,520	2,093	2,876	2,068	4,718	4,153	16,135	12,476	7,422	8,651
EPS in Rs	3.86	2.85	5.39	2.89	2.39	4.34	3.66	7.31	6.31	25.95	19.33	10.43	11.91
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	85,864	96,101	96,532	95,468	82,639	80,780	87,539	100,616	116,547	139,145	149,982	172,985	194,614
	59,352	62,499	62,548	60,138	52,560	55,016	50,930	55,337	59,013	67,871	72,090	87,925	85,608
Operating Profit	26,512	33,602	33,984	35,330	30,079	25,764	36,610	45,279	57,534	71,274	77,893	85,060	109,006
OPM %	31%	35%	35%	37%	36%	32%	42%	45%	49%	51%	52%	49%	56%
	2,881	1,243	4,858	1,713	1,756	4,474	-37,775	-4,215	4,656	1,019	-3,028	20,662	11,479
Interest	5,879	4,446	8,546	9,547	9,326	10,622	13,992	15,091	16,616	19,300	22,648	21,754	21,504
Depreciation	15,650	19,858	17,450	19,773	19,243	21,348	27,690	29,404	33,091	36,432	39,538	45,570	49,677
Profit before tax	7,864	10,540	12,846	7,723	3,267	-1,732	-42,846	-3,432	12,483	16,561	12,679	38,398	49,302
Tax %	62%	52%	46%	45%	33%	-197%	-28%	260%	33%	26%	32%	2%
	3,019	5,048	6,893	4,241	2,184	1,688	-30,664	-12,364	8,305	12,287	8,558	37,481	44,683
EPS in Rs	5.04	8.41	11.05	6.91	2.00	0.74	-55.06	-25.63	7.23	14.97	13.20	58.85	67.62
Dividend Payout %	26%	33%	9%	11%	194%	244%	-3%	0%	39%	27%	62%	28%

Compounded Sales Growth
10 Years:	6%
5 Years:	15%
3 Years:	14%
TTM:	25%

Compounded Profit Growth
10 Years:	18%
5 Years:	31%
3 Years:	83%
TTM:	127%

Stock Price CAGR
10 Years:	21%
5 Years:	37%
3 Years:	37%
1 Year:	32%

Return on Equity
10 Years:	10%
5 Years:	15%
3 Years:	17%
Last Year:	23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	1,999	1,999	1,999	1,999	1,999	1,999	2,728	2,746	2,795	2,837	2,877	2,900	2,900
Reserves	57,757	37,778	64,771	65,458	67,536	69,424	74,417	56,207	63,759	74,726	79,142	110,772	114,896
	75,896	83,415	100,646	107,288	111,334	125,428	148,228	162,785	169,678	226,020	215,592	213,642	208,010
	45,840	58,747	57,056	57,578	68,653	77,176	133,718	122,679	124,975	140,974	144,408	177,692	198,057
Total Liabilities	181,492	181,939	224,472	232,322	249,521	274,026	359,091	344,417	361,207	444,557	442,019	505,006	523,863
	140,614	124,279	172,293	178,235	187,200	200,832	229,256	223,480	244,083	277,394	303,303	388,468	395,060
CWIP	0	17,415	5,702	10,838	9,751	9,634	4,282	5,726	5,955	49,425	16,904	10,999	10,219
Investments	15,531	10,752	11,977	14,339	16,159	15,711	25,476	27,550	29,349	32,954	31,602	5,838	9,459
	25,347	29,494	34,500	28,910	36,411	47,850	100,077	87,661	81,820	84,784	90,210	99,700	109,124
Total Assets	181,492	181,939	224,472	232,322	249,521	274,026	359,091	344,417	361,207	444,557	442,019	505,006	523,863

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	26,233	28,059	27,942	28,280	29,854	20,070	18,129	48,205	55,017	65,325	78,898	98,332
	-25,181	-22,301	-14,091	-30,680	-27,940	-28,286	-29,598	-27,286	-41,478	-39,232	-51,089	-60,198
	2,774	-9,672	-11,946	-351	1,920	9,464	19,144	-24,910	-15,203	-24,470	-27,778	-36,533
Net Cash Flow	3,826	-3,914	1,905	-2,752	3,835	1,248	7,675	-3,991	-1,664	1,623	31	1,601

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	27	20	21	18	26	19	19	13	13	10	12	16
Inventory Days
Days Payable
Cash Conversion Cycle	27	20	21	18	26	19	19	13	13	10	12	16
Working Capital Days	-194	-205	-161	-199	-258	-329	-352	-270	-239	-217	-236	-277
ROCE %	10%	11%	13%	10%	7%	3%	5%	7%	11%	12%	13%	13%

Shareholding Pattern

Numbers in percentages

14 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	55.12%	55.02%	54.97%	54.75%	54.57%	53.48%	53.17%	53.14%	53.12%	52.42%	51.26%	50.27%
	21.70%	20.97%	21.48%	21.87%	22.69%	24.35%	24.62%	25.07%	24.27%	25.41%	26.72%	27.42%
	19.02%	19.78%	19.55%	19.69%	19.51%	19.20%	19.13%	18.69%	19.52%	19.23%	19.09%	19.40%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%
	4.00%	4.05%	3.82%	3.53%	3.07%	2.80%	2.89%	2.89%	2.91%	2.75%	2.74%	2.72%
	0.05%	0.05%	0.05%	0.04%	0.06%	0.05%	0.06%	0.07%	0.07%	0.07%	0.07%	0.05%
No. of Shareholders	7,54,961	7,58,715	7,09,952	6,85,529	6,77,690	6,94,297	7,62,266	7,84,930	8,36,095	8,33,428	8,28,719	8,48,472

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	67.14%	67.14%	67.14%	58.98%	55.86%	55.93%	55.02%	53.48%	52.42%	50.27%
	15.22%	18.45%	17.61%	20.29%	18.57%	19.36%	20.97%	24.35%	25.41%	27.42%
	11.15%	12.38%	13.25%	15.83%	20.35%	19.50%	19.78%	19.20%	19.23%	19.40%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.12%	0.12%	0.12%
	6.46%	1.99%	2.00%	4.87%	5.16%	5.16%	4.05%	2.80%	2.75%	2.72%
	0.03%	0.04%	0.00%	0.04%	0.06%	0.05%	0.05%	0.05%	0.07%	0.05%
No. of Shareholders	2,12,238	1,93,663	1,86,238	2,30,528	7,13,866	7,67,578	7,58,715	6,94,297	8,33,428	8,48,472

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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