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Bharti Airtel Ltd - Stock Valuation and Financial Performance

BSE: 532454 | NSE: BHARTIARTL | Telecommunication - Service Provider | Large Cap

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Bharti Airtel Share Price

 ₹1,643.90 7.75 0.47%
as on 24-Jan'25 16:59

DeciZen - make an informed investing decision on Bharti Airtel

Overall Rating ⓘ
Bole Toh

1. Quality

Somewhat Good
Check detailed 10 Yrs performace

2. Valuation

Overvalued
Check 10 Yrs Valuation charts

3. Price Trend

Semi Strong
Check Price chart

Bharti Airtel stock performance -

PE Chart Key Ratios
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P/E Ratio (CD):
81.63
Market Cap:
10,01,373.4 Cr.
52-wk low:
1,098
52-wk high:
1,779

Is Bharti Airtel Ltd an attractive stock to invest in?

1. Is Bharti Airtel Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharti Airtel Ltd is a average quality company.

2. Is Bharti Airtel Ltd undervalued or overvalued?

The key valuation ratios of Bharti Airtel Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Bharti Airtel Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bharti Airtel Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Bharti Airtel:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bharti Airtel Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % ⓘ11.6%14.7%10.1%7.1%4.8%-16.6%0.3%15%16.2%14.8%-
Value Creation
Index ⓘ		0.00.3-0.1-0.4-0.6-2.5-1.00.30.40.3-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ96,10196,53295,46882,63980,78084,6771,00,6161,16,5471,39,1451,49,9821,55,478
Sales YoY Gr.-0.5%-1.1%-13.4%-2.3%4.8%18.8%15.8%19.4%7.8%-
Adj EPS ⓘ9.18.910.43.7-4-12.7-26.85.214.821.120.1
YoY Gr.--2.1%16.6%-64.2%-206.2%NANANA183.5%42.9%-
BVPS (₹) ⓘ89.3149.3151.1156.5160.8138.6105.2118.9136.4142.2143.7
Adj Net
Profit ⓘ		4,0493,9624,6191,654-1,758-7,075-15,0003,0668,81512,76812,268
Cash Flow from Ops. ⓘ28,05927,94228,28029,85420,07018,12948,20555,01765,32578,898-
Debt/CF from Ops. ⓘ33.63.83.766.52.72.42.51.9-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ5.1%13.2%14.2%7.8%
Adj EPS ⓘ9.8%NANA42.9%
BVPSⓘ5.3%-2.4%10.6%4.2%
Share Price 16.9% 26.2% 32.2% 41.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity % ⓘ		8.17.46.92.4-2.5-9.5-224.912.21614.1
Op. Profit
Mgn % ⓘ		3535.136.936.429.940.545.149.451.251.951.9
Net Profit
Mgn % ⓘ		4.755.33.3-0.6-6.6-12.26.19.29.27.9
Debt to
Equity ⓘ		2.11.51.61.61.71.52.222.11.91.3
Working Cap
Days ⓘ		1171389411013519620716713813665
Cash Conv.
Cycle ⓘ		-90-83-111-125-115-106-102-104-102-104-102

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.10%

Sales growth is growing at healthy rate in last 3 years 14.23%

Debt to equity has declined versus last 3 years average to 1.86

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 6.27%

Latest Financials - Bharti Airtel Ltd.

Standalone Consolidated
TTM EPS (₹) 13.5 20.1
TTM Sales (₹ Cr.) 1,00,113 1,55,478
BVPS (₹.) ⓘ 170.6 143.7
Reserves (₹ Cr.) ⓘ 1,00,895 84,508
P/BV ⓘ 9.63 11.44
PE ⓘ 121.75 81.63
From the Market
52 Week Low / High (₹) 1098.00 / 1778.95
All Time Low / High (₹) 9.34 / 1778.95
Market Cap (₹ Cr.) 10,01,373
Equity (₹ Cr.) 3,045.7
Face Value (₹) 5
Industry PE ⓘ 62

Management X-Ray of Bharti Airtel:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Bharti Airtel

Event Update

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Analyst's Notes

Bharti Airtel: Q2 FY25 Result Update - 13 Nov 2024

Particulars

Q2FY25 (Rs. Cr)

YOY trend

Comments

Revenue

41,473

12%

Driven by tariff repairs and sustained growth in Africa. 

EBITDA

22,021

12%

 

 

EBITDA Margin

 

53.1%

 

flat

An improvement of 86 bps in the India business margins due to operating leverage in the mobile division.

PAT

3,593

168%

Higher PAT jump was driven by exceptional loss in base quarter 

 

Bharti Airtel’s market share in the smartphone segment saw continued improvement with the addition of 26.2 Mn subscribers, an increase of 11% YoY. Mobile ARPU (Avg. revenue per user) increased to Rs. 233 in Q2’25 vs Rs. 203 in Q2’24. Capex for the quarter stood at Rs 7,675 Cr.

Conference Call Highlights:-

  • The succession plan had been started as the current MD & CEO Gopal Vittal will be leaving his position by Jan 2026 and will be moving to the Executive Vice Chairmen role. Current COO Shashwat Sharma will be taking over the MD & CEO position.

  • Feedback on tariff hike (20-25%) was positive as there were no signs of down trading of customers. The reflection of the tariff hike in revenues would be visible in H2.

  • Airtel Business segment margins continue to fall due to changes in revenue mix. The company is focusing on high-growth segments like Cloud, IoT and data centers. While these would significantly improve market size, overall margins would get diluted.

  • Management emphasized the need for dramatic improvement in the ARPU levels and the architecture of the pricing in the Indian Mobile services segment.

  • The management expects the capex to be moderate this year compared to last year primarily driven by slower 5G spectrum expansion.

Bharti Airtel : Q2 FY24 Result Update - 06 Nov 2023

Particulars

Q2FY24 (Rs. Crs)

YoY Trend

Comments

Revenue

37,044

+7%

The company continued a strong share of 4G/5G net ads in the market with the 4G customer base growing by 27.2 Mn YoY. ARPU rose to 203
EBITDA

19,514

+11%

 
EBITDA Margin

53%

+ 170 bps

Margins improved due to operating leverage
PAT

2,093

-13%

PAT is impacted by one-off provision of Rs. 1,350 Cr as interest payable on additional tax on variable licence fee.(Supreme Court ruling)

Stable result after adjusting for the tax one-off.

Bharti Airtel: Q1FY24 Result Update - 07 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

37,440

+14%

Strong performance across board- Mobile services and Airtel business segments

EBITDA

19,598

+19%

 

EBITDA Margin

52.35%

+195 bps

Operating leverage benefits  

PAT

1,520

-38%

PAT declined as other income loss of Rs 2,478 Cr vs income of Rs 1,638 Cr in Q1FY23

Healthy performance with mobile segment revenues driven by increase in ARPU (average revenue per user); PAT (after exceptional items) remains flat.

 

Bharti Airtel: Q4FY23 Result Update - 19 May 2023

Bharti Airtel

 

Q4FY23

% Change YoY

Comments

Revenue

36,009

14.3%

ARPU at 193, Enterprise segment grew by 14.5% to 4,785 Cr, 7.4 Mn 4G subscriber added

EBITDA

18,806

16.6%

EBITDA margin at 52.2%

PAT

3,005

49.7%

 

Stable results driven by growth in subscribers & enterprise segment.

 

Bharti Airtel: Q2FY23 Result Update - 08 Nov 2022

Bharti Airtel Ltd

Market Cap: 467,689 Cr

CMP 810

EV/EBITDA 8.3 x FY23

Results

Rs. Cr

YoY Growth

Comments

Revenue

34,527

21.9%

Healthy growth across all segments, with Mobile service India growing 24%

EBITDA

17,721

26%

ARPU increased to Rs 190

Click here for 10-year X-ray

Key Highlights

  • Total Customer base reached 501 Million globally.
  • Data traffic improved by 7.3% on quarterly basis to 13.5 Trillion Mb.
  • Launch of 5G network in 8 cities, with 1 Million customer additions within 30 days of launch and expect to cover all towns/urban India and also the key rural areas
  • Airtel Africa Revenue & EBITDA margin grew by 19% on yearly basis.
  • 40% of the industry 4G customers are contributing from the rural area,
  • EBITDA margin improved by 120bps to 52.4% due to lower spectrum usage charge(SUC) rate which fell 130bp, benefiting from the 5G auction.

 

Management Outlook

  • Bharti Airtel paid Rs 8312.4 crores to the Department of telecom (DoT) towards dues for spectrum acquired in 5G auctions. Company has paid 4 years of spectrum dues upfront, management believes this will free up future cash flows.
  • 40% of the industry 4G customers are contributing from the rural area, management aims to cover all towns and key rural areas from current 96% coverage.
  • Leveraging its dominant position in the enterprise segment to drive further growth, started testing SA mode of 5G which relevant for enterprise solution.
  • Management believes ARPU correction needs to happen to Rs 200 and eventually Rs 300 in long run to healthy return on capital.
  • Capex spends may increase in FY24-25 from current levels. However, the management said sustaining the high capex will depend on the uptake in 5G and its monetization.

Bharti Airtel Limited Annual Report-Key Takeaways - 18 Aug 2022

Bharti Airtel Limited Annual Report-Key Takeaways

18-08-2022

Theme: Consumer Obsessed. Future Growth

We aspire to create a compelling experience for our customeracross all services, for this we have given attention to adopt latest technology and create infrastructure that supports and sustains high speed network equipped with innovation and creating teams that understand customer needs. Focused investment in technology, spectrum and infrastructure created superhighway to reach the customers. Our core strength in data, distribution, payment and network has been making significant progress by building strong digital ecosystem which can be seen in terms of revenue contribution. Our digital services Airtel Payment Bank, Wynk music, Airtel ads, Airtel IQ or Nxtra by Airtel have unique position for customers and are now mature to be considered as unicorns in their own right.     

Post 4G network, we have concentrated on cementing 5G sector network. We have already tested and demonstrated the 5G readiness of network for retail and enterprise customers which can use to build new business model of tomorrow. Our customer obsession which has led us to increase ARPU and develop steady revenue stream is backed by clean balance sheet and leaner capital structure.  Timely fundraising, high-cost debt payment and strategic monetisation of assets keep us capitalised for our growth journey. Our focus is on giving our customer Omni-channel, One Airtel is an initiative in that direction.

Steller Business Performance for FY22

Revenue: Rs.1,16,547 Cr (15% YoY Growth)

Operating Profit: Rs.58,110 Cr (25.9% YoY Growth)

Operating Profit margin: 49.8% (vs 45% in FY21)

Customer Base: 49.13 Cr (+4% YoY Growth)

ARPU: Rs. 178 (vs 163 Q3FY22)

Key business segments

                                                                                 FY2022

MoneyWorks4me Subscribers can click here for our latest opinion & recommendation on this company

INDIA

Mobile Service

Airtel offers postpaid, prepaid, roaming, internet and other value added services. This is the core business activity of the company.  Its distribution channel is spread across 1.13 million outlets with network presence in 7,913 census town and 795,126 non-census town and villages covering 95% of the Indian population. Company offers high speed internet access and host of innovative services like Mobile TV, video calls, live-streaming videos, gaming, and others. It has a Pan India reach with 355,079 RKms of optical fiber. The mobile service has given 14% revenue growth of Rs.63,205 Cr derived from price intervention and 4G customer net addition. EBITDA grew by 141% in FY22.

The company has 20.84 crore data customers as of March 2022, of which 96% were 4G customers. The company had added 20,676 mobile towers and 145,353 mobile broadband in the year. Airtel added 1800, 2100 and 2300 band spectrum will help to address capacity needs due to increasing data consumption resulting improved experience.

Home Services

Airtel provides fixed line telephone and broadband services for homes in 847 cities making Pan India network. The product includes high speed broadband upto 1 Gbps speed and voice connectivity. Airtel home service has generated Rs.3,039 crores in revenue with growth of 30% and EBITDA margin growth of 20%. New launch of ‘Koi Load Nahi’ campaign to promote Airtel Xstream Fiber broadband which connects up to 60 devices. Airtel partnered with Netflix to offer distinguished proposition of premium content on Airtel hi-speed internet plans. Airtel has also launched Airtel Black which provides multiple services and bills under one umbrella.

Digital TV Service

Airtel Direct to Home (DTH) platform offers both standard and HD digital TV services with 3D capability and Dolby surrounded sound. At current Airtel offers 670 channels which include 84 HD channels, 56 SVOD services, 5 international channels and 4 interactive services. Digital TV service has contributed 3153.8 crore in revenue with 3% growth and EBITDA margin growth at 1%.

The Digital TV service has the customer base of 17.6 Lakhs. Digital TV service is present across 639 districts across India. Airtel is pioneer in launching innovative products to its customers. Airtel launched new OTT bundle subscription plan which provide TV programmes and OTT streaming like Diseny+hotstar, Amazon, Xstream Premium etc. Currently the Airtel digital TV has 900,000+ customers. 

Airtel Business

Airtel Business provides ICT service with multiple offerings to enterprise, government, carriers and small & medium business. Airtel provides fixed line voice, data and other connectivity solutions like MLPS, VoIP, SIP trucking. It also offers video conferencing solution. Cloud portfolio offers storage, compute, Microsoft Office 365, ecommerce package, Network integration, data centres, managed services, enterprise mobility applications and digital media. The company strategically located submarines cables and satellites network which enables its customers to connect across the world. Airtel global network runs across 365,000 Rkms+ covering 50 countries and 5 continents. Airtel business generated revenue of 16,070.2 crores with 12% growth in FY23 and EBITDA margin of 14%.

Airtel joined SEA-ME-WE-6 undersea cable consortium to scale up high speed network for India’s emerging digital economy. Airtel is investing 20% in overall cable system which runs from Singapore to France connecting 19200 Rkms SEA-ME-WE-6 and expected to go live in 2025. Airtel has entered into joint venture with Hughes Communication India Pvt. Ltd(HCIPL) which has the combined base of over 200,000 VSAT’s. Airtel and Capgemini have collaborated to bring the experience of 5G solutioning and System Integration (SI) to co-innovate a range of India-focused use cases. Nxtra by Airtel launched 38 MW hyperscale data centre in Chennai which will have footprint in 12 large and 120 edge data centres. Airtel and Oracle have partnered to set up joint cloud centre of excellence in Gurugram from emerging cloud technology and IP development. Airtel is set to launch “Airtel IoT” a 5G ready platform for the world of connecting things.

Africa

Airtel Africa is helping lives of Sub-Saharan Africa by digitalisation, financial infusion and empowering the company. Airtel has acquired 128.4 million customers across 14 countries up from 11.82 crores customers in previous year which represents 8.7% growth in customer base. The Airtel Africa revenue grew by 21.5% generating 35,061.2 crore from 28,863.3 crore. Airtel Africa signed an agreement with Quarter holding LLC regarding the investment of 20 crore USD Airtel Mobile Commerce BV, a subsidiary of Airtel Africa plc.

Future Prospects:

  • Airtel made fresh deployments and upgraded infrastructure to provide superior networks across India, in the states of Andhra Pradesh, Telangana, West Bengal, Assam, Jammu and Kashmir, Ladakh, Himachal Pradesh, Haryana, Gujarat, Kerala, Tamil Nadu and Karnataka.
  • Postpaid continuous to be underpenetrated compared to other emerging countries, reducing the pricing delta between postpaid and prepaid is creating opportunity for the growth in prepaid going forward.
  • Airtel has expanded coverage to 847 cities (vs 291 cities in FY21); target to reach 40 million home passes and 2,000 cities by FY 2024-25.
  • Airtel has joined SEA-ME-WE-6 undersea cable consortium to scale up high speed network for India’s emerging digital economy which will connect Singapore and France with a range of 19,200 Rkms. It will be a largest undersea cable system globally.
  • India’s wireless mobile broadband penetration at ~67% is still low, as customers upgrade from feature phone to smartphones, demand is expected to increase. This provides a large headroom for the company to grow.

Annual Reports is a very elaborate document and shares lot of information; at times doesn’t necessarily help to form opinion about a company or it’s potential. We carve out only important information about company’s strategy and future prospects for your benefit.

Click here to read full annual report

 

View All Notes

Key Ratios of Bharti Airtel

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales96,10196,53295,46882,63980,78084,6771,00,6161,16,5471,39,1451,49,982
Operating Expenses ⓘ 62,49962,65060,27052,60256,62650,42355,24459,01367,87172,141
Manufacturing Costs37,95941,32741,47137,13039,56338,32441,97243,38148,57450,273
Material Costs2806059079991,0861,2961,8182,5603,3573,979
Employee Cost 4,8574,9114,3033,9773,7983,5144,1154,4334,8315,323
Other Costs ⓘ 19,40315,80813,58910,49612,1807,2907,3408,63911,11012,566
Operating Profit ⓘ 33,60233,88235,19830,03724,15434,25345,37257,53471,27477,841
Operating Profit Margin (%) 35.0%35.1%36.9%36.3%29.9%40.5%45.1%49.4%51.2%51.9%
Other Income ⓘ 2,0961,7201,9701,5312,7991,5366435349371,886
Interest ⓘ 4,4478,5469,5479,32610,62214,07315,09116,61619,30022,648
Depreciation ⓘ 19,85817,45019,77319,24321,34827,09429,40433,09136,43239,538
Exceptional Items ⓘ -8532,174-1,170-7932,929-40,089-15,9151,699-670-7,572
Profit Before Tax ⓘ 10,54012,8467,7233,267-1,732-46,130-14,48812,48316,56112,679
Tax ⓘ 5,4875,9533,4821,084-3,419-12,5128,9334,1784,2734,121
Profit After Tax 5,0536,8934,2412,1841,688-33,618-23,4218,30512,2878,558
PAT Margin (%) 5.3%7.1%4.4%2.6%2.1%-39.7%-23.3%7.1%8.8%5.7%
Adjusted EPS (₹)10.413.78.62.50.9-57.9-27.07.614.713.0
Dividend Payout Ratio (%)33%9%11%194%244%-3%0%39%27%62%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 39,64366,25267,05069,45671,34877,07858,86566,45477,38881,810
Share Capital ⓘ 1,9991,9991,9991,9991,9992,7282,7462,7952,8372,877
Reserves ⓘ 37,64464,25465,05167,45869,34974,35056,11963,65974,55278,933
Minority Interest6891549868758814135262498522274253812888123545
Debt69,93094,9921,02,58297,8991,13,5001,07,7831,18,6431,30,8291,56,9101,38,747
Long Term Debt61,11689,26989,63784,94282,49091,0791,10,5601,13,5351,51,5691,30,963
Short Term Debt8,8145,72412,94412,95731,01016,7038,08217,2945,3417,784
Trade Payables16,07725,58126,85426,85426,31424,36727,88529,27432,89535,133
Others Liabilities ⓘ 68,02728,99727,28644,62641,53199,55198,27591,7931,31,6071,46,054
Total Liabilities ⓘ 2,00,5672,21,3212,30,6462,47,6492,66,2183,33,7633,25,9413,43,7314,27,6814,25,288

Fixed Assets

Gross Block2,08,3102,59,6372,71,5182,94,2683,28,4413,75,3353,82,3684,21,5134,86,6365,35,607
Accumulated Depreciation84,03287,34493,2831,07,0671,27,6101,46,0791,58,8881,77,4292,09,2432,32,304
Net Fixed Assetsⓘ 1,24,2791,72,2931,78,2351,87,2002,00,8322,29,2562,23,4802,44,0832,77,3943,03,303
CWIP ⓘ 17,4155,70210,8399,7519,6344,2825,7275,95549,42516,904
Investmentsⓘ 10,75210,57714,33916,15915,71125,47727,55029,34932,95431,602
Inventories375440496988157266375258364
Trade Receivables5,2075,5044,7405,8834,3014,6063,6404,0563,9824,728
Cash Equivalents 2,0835,0995,0986,6718,06415,89313,47113,49413,41916,340
Others Assetsⓘ 40,45621,70617,34621,91627,58854,09351,80846,41850,25152,047
Total Assets ⓘ 2,00,5672,21,3212,30,6462,47,6492,66,2183,33,7633,25,9413,43,7314,27,6814,25,288

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity ⓘ 28,05927,94228,28029,85420,07018,12948,20555,01765,32578,898
PBT ⓘ 10,54012,8467,7233,267-1,732-42,847-3,11812,48316,56112,679
Adjustment ⓘ 22,63220,17527,22327,36928,51079,86550,51346,15655,66766,686
Changes in Working Capital ⓘ -204-396-3507591-5537-165963043-1447-31122414
Tax Paid ⓘ -4,910-4,684-3,159-1,372-1,171-2,294-2,233-2,175-3,792-2,881
Cash Flow From Investing Activity ⓘ -22,305-14,226-30,604-27,968-28,501-30,492-26,888-41,870-39,080-50,204
Capex -21,790-21,415-36,712-25,248-29,050-20,585-27,114-26,021-26,450-39,929
Net Investments -6496,825-53-1,382601-8,7053,814-500-2,0121,848
Others ⓘ 1343646,161-1,337-52-1,202-3,589-15,349-10,618-12,123
Cash Flow From Financing Activityⓘ -9,672-11,946-3511,9219,46419,144-24,910-15,203-24,470-27,779
Net Proceeds from Shares ⓘ 55155131310,43544,89615,2235,2251
Net Proceeds from Borrowing ⓘ -8,334-12,239-1,6026,695778-6,241-8,250-8,243-4,215-3,368
Interest Paid ⓘ -3,651-3,289-5,857-4,404-7,617-10,999-7,129-13,159-6,689-14,026
Dividend Paid ⓘ -2,347-1,530-917-3,265-4,662-1,826-2,691-1,444-3,590-4,185
Others ⓘ 4,6054,9577,8932,89210,529-6,685-6,8412,419-15,200-6,200
Net Cash Flow ⓘ -3,9191,771-2,6763,8071,0336,781-3,594-2,0561,775916

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)10.1713.026.363.22.4-45.3-34.4613.2517.0810.75
ROCE (%)11.5814.7310.17.084.77-16.570.3114.9916.2114.81
Asset Turnover Ratio0.510.460.420.350.310.280.30.350.360.35
PAT to CFO Conversion(x)5.554.056.6713.6711.89N/AN/A6.625.329.22
Working Capital Days
Receivable Days22202023231915121111
Inventory Days1210011111
Payable Days0009,8078,9397,1385,2474,0753,3803,120

Bharti Airtel Ltd Stock News

Bharti Airtel Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bharti Airtel on 24-Jan-2025 16:59 is ₹1,643.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Jan-2025 16:59 the market cap of Bharti Airtel stood at ₹10,01,373.4.
The latest P/E ratio of Bharti Airtel as of 24-Jan-2025 16:59 is 121.8.
The latest P/B ratio of Bharti Airtel as of 24-Jan-2025 16:59 is 9.63.
The 52-week high of Bharti Airtel is ₹1,779 and the 52-week low is ₹1,098.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharti Airtel is ₹1,00,113 ( Cr.) .

About Bharti Airtel Ltd

Bharti Airtel Limited is domiciled and incorporated in India as a public limited company with its shares being listed on the National Stock Exchange and the BSE. The Company is principally engaged in provision of telecommunication services in India. The company provides telecom services under wireless and fixed line technology, national and international long distance connectivity and Digital TV; and complete integrated telecom solutions to enterprise customers. All these services are rendered under a unified brand ‘airtel’. The company also owns Tower Infrastructure pertaining to telecom operations through its subsidiary and joint venture entity.

Business area of the company

The company is a leading global telecommunications company with operations in countries across Asia and Africa. The company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed home broadband, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G, 4G wireless services and mobile commerce.

Business Divisions/ Products & Services

B2C Services:

  • Mobile Services: The company offers postpaid, pre-paid, roaming, internet and other value added services.
  • Homes Services: The company provides fixed-line telephone and broadband services for homes.
  • Digital TV Services: Direct-To-Home (DTH) platform offers both standard and high definition (HD) digital TV services with 3D capabilities and Dolby surround sound.

B2B Services:

  • Airtel Business: The company is India’s leading and most trusted provider of ICT services with a diverse portfolio of services to enterprises, governments, carriers and small and medium business.
  • Tower Infrastructure Services: The company’s subsidiary, Bharti Infratel (Infratel), is India’s leading provider of tower and related infrastructure and it deploys, owns & manages telecom towers and communication structures, for various mobile operators.

Airtel Payments Bank:

  • Airtel Payments Bank is a differentiated bank that provides essential financial services to its customers.

Awards

2008-09:

  • Voted India's most innovative company - in a survey conducted by The Wall Street Journal in 2008.
  • Winner of the ‘Gallup Great Workplace Award’- Gallup Consulting, 2008.
  • 'Best Content Service Award' for its Farmer Information Dissemination Platform for Bharti Airtel’s joint venture with IFFCO, IKSL (IFFCO Kisan Samachar) - World Communications Awards 2008.
  • ‘Best Project Management' Award for its Gujarat e-GRAM project - World Communications Awards 2008.
  • ‘Best Telecom Company’ at the NDTV Profit Business Leadership Awards.
  • Best Carrier India for innovative products & services and efficient cost models and the Ovum Telco-Transformation award recognizing philosophy and execution of a successful outsourcing strategy at the Telecom Asia Awards 2008.

2009-10:

  • Bharti Airtel rated as India’s Best Enterprise Connectivity Provider for 2009 at the Annual Users’ Choice Awards instituted by PC Quest.
  • Bharti Airtel has been recognized as the Best Global Wholesale Carrier for 2009 at the Telecoms World Awards Middle East by Terrapin.
  • Airtel was rated as the ‘Strongest Brand’ in the Economic Times Brand Finance Brand Power Rating 2009. It is the only Corporate Brand to be awarded the AAA rating
  • Airtel ranked second in the Economic Times-Brand Equity Most Trusted Brand Survey 2009.
  • Bharti Airtel ranked India’s second most valuable company, by Business Today in 2009.
  • Bharti Airtel listed in Forbes Asia’s Fabulous 50 companies, 2009 on number sixth position.
  • Bharti Airtel was recognized as the ‘Service Provider of the Year’ and ‘Wireless Service Provider of the Year’ at the Frost & Sullivan Asia Pacific ICT Awards 2009.
  • Bharti Airtel bagged the Best Carrier India Award and the Ovum Telco-Transformation Award at the Telecom Asia Awards 2009.
  • Bharti Airtel was ranked sixth among the top 100 best performing technology companies in the world, compiled by BusinessWeek for the year 2009. The company is placed ahead of global technology leaders like Apple (19), Microsoft (22) and Google (37) in this exclusive list.
  • Bharti Airtel was selected as one of the top 10 winners of the IDC Enterprise Innovation IT Awards 2009 across APAC region for its BSS Transformation Project.
  • Bharti Airtel received the ‘Best Content Service’ Award for the airtel-IFFCO Farmer Information Dissemination Platform at the World Communications Awards in London.
  • Bharti Airtel has been recognized as the Best Global Wholesale Carrier for 2009 at the Telecoms World Awards Middle East. Telecoms World is one of the flagship annual awards by Terrapin, one of the leading business media organizations for international telecom carriers and service providers.
  • Bharti Airtel’s low cost computing device airtel Net PC was recognized by Hindustan Times as one of the ‘Top 9 Best Tech Products of 2009’.
  • Bharti Airtel has been ranked among six best performing technology companies in the world by Business Week. Bharti Airtel was awarded the Most Preferred Cellular Service Provider Award at the CNBC Awaaz Consumer Awards 2009.

2010-11:

  • Airtel has won the 'Most Preferred Cellular Service Provider Brand' award at the CNBC Awaaz Consumer Awards in Mumbai. This is 6th year in a row that airtel has won the award in this category. This year, the awards were based on an exhaustive consumer survey done by The Nielsen Company. Over 3,000 consumers, spanning 19 cities and 16 states in India, rated brands across different categories to choose brands which delivered true value for money.
  • Bharti Airtel has received the prestigious Businessworld-FICCI-SEDF Corporate Social Responsibility Award 2009-2010. The FICCI Socio Economic Development Foundation (FICCI-SEDF) and Businessworld CSR award was instituted in 1999 to recognize exemplary responsible business practices by the Indian industry.

2011-12:

  • Bharti Airtel was conferred two awards at the prestigious NDTV Profit Business Leadership Awards 2011 organized in Mumbai in 2012. Airtel was awarded the Business Leader Award in Telecom Sector for exceptional contribution to the industry. Mr. Sunil Bharti Mittal was awarded the 'Corporate Consciousness Award' for his relentless pursuit of excellence which has helped in fueling India's journey to the forefront of the world economy.
  • Awarded the Telecom Center of Excellence Award 2011 for Operator with Customer Focus and Best Network Quality in December 2012.
  • Organized by the National HRD Network, Bharti Airtel bagged 'The Most Impactful HR Practise Award for the 'use of mobile technologies for employee services' in 2011.
  • Bharti Airtel Limited bagged the SSON excellence award under 'Excellence in Culture Creation' category for its Airtel Center of Excellence (Finance, HR, RA and SCM Shared Services) in 2011.

2012-13:

  • Bharti Airtel Shared Services Team won two awards in categories of Value Creation and Innovation & Improvement at the SSON (Shared Services & Outsourcing Network) Excellence Awards 2012.
  • Bharti Airtel won four Effie awards at the Effie Awards 2012. Airtel's extremely popular 'Har ek friend zaroori hota hai' campaign conceptualized by Taproot India, stood out as a campaign amongst all nominations, winning three Gold Effie awards. Apart from a Gold in the 'Telecom & Related Services' category, the campaign won a Gold each in 'Digital Advertising' and 'Integrated Advertising'. Bharti Airtel also won one Silver Effie award for its 'Baat sirf paison ki nahin hai' campaign for airtel money in the telecom category.
  • Bharti Airtel won the QuEST Forum India Quality Award for the Top Telecom Service Provider. QuEST Forum is a unique collaboration of information and communication technologies (ICT) service providers and suppliers across the world, dedicated to improving operational and supply chain quality and performance.
  • Bharti Airtel was felicitated for 'Best Mobile Service Provider' and 'Innovation in mMoney' at Aegis Graham Bell Awards held on November 1, 2012. The Aegis Graham Bell awards honor the best innovations in the field of TIME (Telecom, Internet, Media & Edutainment) recognizing the most exceptional contributions in the respective fields.
  • Bharti Airtel was awarded the 'Brand of the Year' at the CNBC TV18's flagship initiative, the India Business Leader Awards (IBLA) for its Har Ek Friend Zaroori Hota Hai campaign. The IBLA Brand Of The Year Award seeks to recognize a brand mass media/ communication campaign based on its key message, popularity amongst the target audience and impact on the brand.
  • The Airtel Centre of Excellence (ACE) received the 'Excellence Award for Shared Service Centre Operations in India' in the 2nd National Shared Services Council by All India Management Association and Delhi Management Association in recognition of their outstanding efforts to identify key strategic drivers and implementing them to deliver value to all stakeholders.
  • Bharti Airtel won the highly prestigious Porter Prize in the 'Exploiting Trade-offs' category. The Porter Prize Awards, named after Professor Michael Porter - the father of modern strategic field, are the most coveted awards in the field of strategy and competitiveness. The award recognises and honours Indian companies which have embraced the best strategic management practices.
  • Bharti Airtel Sri Lanka bagged a silver at the prestigious HRM awards. Airtel Sri Lanka was recognized for their HR practices by HRM awards.
  • Bharti Airtel won the Star News Viewers Choice Best Mobile Network, Best Quality Mobile Network Service Provider, at the 6th National Telecom Awards 2012 hosted by CMAI in May 2012.
  • Bharti Airtel won 5 awards at the Telecom Operator Awards 2012, announced in March 2012 by Tele.net . Airtel bagged the 'Best National Mobile Operator', 'Best VAS Provider', 'Best Enterprise Services Provider', 'Best Ad Campaign by an Operator' and 'Most innovative Solution' for airtel money.

2013-14:

  • Bharti Airtel won the 'Enterprise Telecom Service Provider of the Year' Award at the 2013 Frost & Sullivan India ICT Awards.
  • Bharti Airtel was ranked third in Interbrand's 'Best Indian Brands' survey for 2013. 
  • Bharti Airtel emerged as India's most respected Telecom Company in Business World's survey for 2013.
  • Bharti Airtel secured the top spot among the 'Best companies to work for' in the Indian telecom sector in the Business Today - People Strong Survey 2013.
  • Bharti Airtel was conferred with the prestigious 'Top Treasury Team, Asia' Award at 'Euro Finance Treasury Awards for Excellence in Asia' 2013.
  • Bharti Airtel's mEducation product Career Counseling won the mbillionth South Asia Award 2013.
  • Bharti Airtel bagged the Pitch Brands 50 Awards 2013 for Excellence in Marketing under the Globetrotters category.
  • Bharti Airtel was ranked first in Brand Equity's Top 50 Service Brands in India's Most Trusted Brands Survey 2013.
  • Bharti Airtel was ranked fourth in financial transparency among 100 multinational companies in emerging markets, according to a study conducted by Transparency International.
  • Bharti Airtel's my Airtel app won the 'Service Innovation 2013' Award at Aegis Graham Bell Awards 2013 for empowering customers to manage all Airtel services effortlessly from a single interface.
  • Bharti Airtel was conferred with the Top Operator (Cellular), Top Operator (NLD), Top Operator (ILD) awards at the ICT (Information and Communication Technology) Business Awards 2013 in Delhi.

2014-15:

  • Bharti Airtel won top honors at the prestigious 2014 Frost & Sullivan India Information & Communications Technology (ICT) Awards. Airtel won 3 awards: Enterprise Telecom Service Provider of the Year, Large Enterprise Segment, Enterprise Telecom Service Provider of the Year, SMB (Corporate) Segment, and Enterprise 3G Service Provider of the Year under the Enterprise Telecom Services category for its exemplary growth and performance.
  • Bharti Airtel was honored with the Dun & Bradstreet (D&B) Corporate award in the Telecom Services sector at the D&B Manappuram Finance Corporate Awards 2014 in Mumbai
  • Airtel Ranked ‘No.1 Service Brand’ in the annual Brand Equity Most ' Trusted Brands Survey 2014.
  • Bharti Airtel won ‘Top Treasury Team Asia 2014’ in Adam Smith Awards Asia 2014
  • Airtel won the Best Treasury Team in Asia Pacific at the Finance Asia Corporate Treasurer Awards 2014
  • Airtel won the DSCI Excellence Award for Security in Telecom at the NASSCOM DSCI Annual Information Security Summit 2014.
  • Airtel won the ‘Best Mobile Product’ for Wynk Music under Telecom Service Providers Category and ‘My Favourite Service Provider’ award under the Pubic Poll Awards Category at the prestigious ET Telecom awards 2014.

2015-16:

  • Bharti Airtel was ranked among the top three in a listing of the Top 100 BSE listed companies in FTI Consulting’s ‘India Disclosure Index 2015’ Report with a composite score of 10 out of 10.
  • Bharti Airtel won the ‘Firm of the year - Telecommunication’ Award at the CNBC TV18 India Risk Management Awards 2015 held in New Delhi.
  • Bharti Airtel honoured with the ‘Golden Peacock Award for Sustainability 2015’ at the London Global Convention on Corporate Governance & Sustainability held in London, UK.
  • Bharti Airtel won the ‘Operator Excellence Award’ in the ‘Business Innovation in Risk Management’ category at Subex User Conference held in Prague, Czech Republic.
  • Bharti Airtel won the ‘Top Treasury Team (Asia) Award’ at the Adam Smith Asia Awards 2015.
  • Bharti Airtel won the ‘Data Security Council of India (DSCI) Excellence Award’ for security in Telecom at the NASSOCM-DSCI Annual Information Security Summit 2015.
  • Bharti Airtel’s e-Shakti (Madhya Pradesh) bagged the ET Telecom Award as the best initiative in the ‘Use of Telecom for Social Good’ category.
  • Bharti Airtel was recognised for excellence in internal auditing at the ‘Innovation Award 2016’ by the Institute of Internal Auditors (IIA), Delhi.
  • Bharti Airtel has been recognised as an ‘Innovator & Disruptor in HR Technology Practices’ by the Society for Human Resource Management (SHRM).
  • Bharti Airtel’s e-Shakti (Andhra Pradesh) won ‘Telecom Service Provider’ Award from the Government of Andhra Pradesh for women empowerment.
  • Bharti Airtel was recognised for ‘Legal Finesse, Innovation & Accomplishments: In-House Team’ at the Legal Era Awards 2015-16.
  • Bharti Airtel won ‘India’s Top Mobile Service Operator’, ‘Top Internet Services Operator’ and ‘Top Broadband Wireless Access Operator’ at the annual Cybermedia ICT Awards 2015.
  • Bharti Airtel honoured with ‘Company of the Year for Sustainability Telecommunication India & South Asia’ Award at the IAIR Awards 2016.
  • Bharti Airtel was recognised for ‘Best Corporate Social Responsibility Practices’ and ‘Community Development’ at the Global CSR Excellence & Leadership Awards.
  • Bharti Airtel was awarded at the ‘Top Community Care Companies in Asia’ Award at the Asia Corporate Excellence & Sustainability Awards (ACES) 2015.
  • Bharti Airtel won the Aegis Graham Bell Award 2015 in the mHealth category.
  • Airtel Kenya was recognised as the ‘Best Wholesale Operator’ at Mobile Virtual Network Operators (MVNOs) World Congress 2015 in Nice, France.
  • Airtel Ghana won four awards - ‘Telecom Brand of the Year’, ‘Marketing Campaign of the Year’, ‘Innovative Enterprise Product of the Year’ and ‘Special Recognition to the Telecom Industry’ at the Ghana Telecom Awards 2015 in Accra.
  • Airtel Bangladesh won the ‘Asia Communications Award 2015’ held in Singapore under ‘Customer Experience Initiative’ category.
  • Bharti Airtel Lanka won the Gold Award and Silver Award in the categories of ‘Best Multinational Corporations’ and ‘Medium Sized Enterprise’ respectively at the Great Places to Work (GPTW) Awards 2015.

2016-17:

  • Bharti Airtel is conferred with the ‘Certificate of Recognition for Excellence in Corporate Governance 2016’ by the Institute of Company Secretaries of India (ICSI)
  • Bharti Airtel ranked first in a listing of 100 emerging market multinational companies by Transparency International on corporate transparency and reporting. According to the study, the Company topped the list with a cumulative score of 7.3 out of 10.
  • Bharti Airtel was positioned among the top eight companies in the listing of top BSE 100 listed companies in FTI Consulting’s ‘India Disclosure Index 2016’ Report with a composite score of 10 out of 10.
  • Bharti Airtel was recognised as the ‘Firm of the Year - Telecom’ at the 3rd edition of ICICI Lombard & CNBC-TV18 India Risk Management Awards.
  • Bharti Airtel secured the second position in Interbrand’s ‘Best Indian Brands Report 2016’.
  • Bharti Airtel has been declared winner of ‘Golden Peacock Award for Excellence in Corporate Governance’ for the year 2016.

2017-18:

  • Bharti Airtel ranked amongst top 100 firms in ‘The World’s Most Innovative Companies’ (2017) by Forbes.
  • Bharti Airtel awarded the ‘Best Risk Management Practice Award’ in the Telecom category at ‘India Risk Management Awards’ (2017).
  • Bharti Airtel ranked second in Business World’s ‘Most Respected Companies’ in India survey (2017).
  • Bharti Airtel ranked second in the annual Brandz ‘Top 50 Most Valued Indian Brands 2017’ report. 
  • Bharti Airtel named ‘Aon Best Employer’ in the ‘Aon Best Employers - India 2017 Programme’ at the ‘Aon Best Employers India 2017 Learning Conference and Awards’.
  • Bharti Airtel bagged the ‘Asia’s Best Treasury and Finance Strategies, 2016’ award under the ‘Best Hedging Strategy’ category at the ‘Corporate Treasurer Awards 2016’.
  • Bharti Airtel won two awards in the categories of ‘Broadband Product’ and ‘Marketing Campaign’ at the Economic Times Telecom Awards 2017.
  • Bharti Airtel ranked second in ‘2017 Brand Finance India 100’ an annual report on the most valuable Indian brands. 
  • Bharti Airtel won in the ‘Best Emerging Market Initiative’ category at the 7th Asia Communication Awards (2017) held in Singapore.
  • Bharti Airtel won the ‘Golden Peacock Award for Corporate Sustainability’ for the year 2017 at the ‘Golden Peacock Awards Nite’ in London (UK).
  • Bharti Airtel won in the ‘Best Wholesale Carrier (Global)’ category at the Carriers World Awards 2017 held in London, UK.
  • Bharti Airtel’s Internet TV won the ‘Tech Peripheral of the Year’ award at the ‘NEXA NDTV Gadget Guru Awards’ 2017.
  • Bharti Airtel Lanka awarded in the categories of ‘Best Employer Brand’, ‘Best HR Strategy’ and ‘Best HR Strategy in line with Business’ at the ‘Sri Lanka Best Employer Brand Award 2017’.
  • Airtel Nigeria bagged the ‘Most Outstanding Customer-Centric Telecoms Brand of the Year’ award at the Marketing Edge’s ‘National Marketing Stakeholders Summit and Brands & Advertising Excellence Award’ (2017).

2018-19:

  • Airtel ranked amongst the top 10 companies (out of 100) in the Indian Corporate Governance Scorecard, an independent report jointly developed by Bombay Stock Exchange, International Finance Corporation and Institutional Investor Advisory Services (IIAS) with support from the Government of Japan. Bharti Airtel is the only telecom company to make it to the top 10.
  • Bharti Airtel was ranked first within the information technology and telecommunication (ICT) category at the 15th Annual national awards for excellence in Cost Management. The event organized by the Institute of Cost Accountants of India, a premier statutory cost and management accounting body, aims to recognize and honor organizations which have succeeded through efficient and innovative approaches in Cost Management.
  • Airtel Business has been chosen as the winner in two prestigious categories - Best Wholesale Carrier (Global) and Best Wholesale Business Transformation at the Carriers World Awards 2018, a benchmark for excellence in the global wholesale market. The winners were determined by votes of the industry, making these a unique ‘Users Choice’ award for the wholesale and networking industry.
  • Airtel has been rated as the most admired company in telecom, in a recent survey conducted by the Economic Times salary Survey 2017-18 among employees across the telecom space. The survey showed 21% of the respondents opting for Airtel as the most admired company.
  • Airtel's Carrier Digital Platform won the 9th edition of Aegis Graham Bell Award for Wholesale Voice business under 'Service Innovation' category. The Aegis Graham Bell Award recognizes innovation in the field of Telecom, Internet, Media & Edutainment (TIME), felicitating outstanding contributions in these fields in India. Airtel’s carrier digital platform is a first of-its-kind platform that enables global carriers to do wholesale voice business with Airtel at the click of a button.
  • Airtel engineering team stood at 2nd place among 14 contending teams, at Nullcon 2019, a globally recognized security event.
  • Airtel Centre of Excellence (ACE) has bagged the runner’s up award at the Business Partners Challenge for Shared Services held in New Delhi. The event was organized by the Chartered Institute Of Management Accountants, (CIMA) UK.
  • Airtel bagged top honors at CIO CHOICE awards. Airtel was declared as the winner in the Co-location, Public Cloud, Network Security and Information Security categories at the seventh edition of the CIO CHOICE awards. CIO recognition is conducted via an independent advisory panel of eminent CIOs and the winners in each category are selected by over 4000 CIOs from across the country.
  • Airtel Tanzania won an Appreciation Award for the contributions and continued support in improvement of school environment in Tanzania by Tanga City Council and was also recognized for Mobile Health Support by Ministry of Health.
  • Airtel Nigeria has been awarded with Smart recharge campaign of the year by Advertiser association of Nigeria.
  • Airtel Niger has been awarded as the best promoter of digital services by the President.
  • Airtel Uganda has been recognized by Digital Impact Awards, Africa as the Best Technology Brand on Social Media, Best Digital Customer Experience by Technology Brand, Best Saving and Lending Product (Digital driven), Best Professional, Legal and Regulatory brand.

2019-20:

  • Airtel bagged top honors at the Frost and Sullivan ICT Awards. Airtel Business has been awarded as the ‘Enterprise Data Service Provider of the Year’ and the ‘Enterprise Telecom Service Provider of the Year’ in the large enterprise segment.
  • Airtel Finance shared services team has bagged the coveted Digital Initiative Award by HDFC bank in the Large Customer Category.
  • Airtel ranked 4th in the category of ‘The top 10 most valuable Indian brands 2019’ as per WPP Kantar Survey.
  • Airtel Business won the ‘Best Partnership’ award at Telecoms World Middle East Awards 2019 for partnering with Telecom Egypt.
  • Airtel Business has bagged the top honours at the Carriers Worlds Awards 2019 in 2 prestigious categories – ‘Best Global Carrier’ and ‘Best IoT Initiative’.
  • In October 2019, Airtel has been ranked 1 by OpenSignal as having India’s Best Video Experience in its Mobile Network experience report. OpenSignal is an independent mobile analytics company specializing in quantifying mobile network experience.
  • Airtel Thanks campaign won Bronze at EFFIES 2020 for its marketing campaign effectiveness. The EFFIE Award is a pre-eminent award in the advertising industry, which recognizes all forms of marketing that contributes to a brand’s success.
  • Airtel Business won three prestigious awards at Global Carrier Awards 2019, namely, Best Global Wholesale Carrier - Voice, Best Voice Service Innovation - Emerging Markets and Best Security Solution.
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