Bharti Airtel Ltd.

•

airtel.inBSE: 532454NSE: BHARTIARTL

Market Cap₹ 11,46,500 Cr.

Current Price

High / Low₹ 2,174 / 1,740

Stock P/E39.7

Book Value₹ 299

Price to Book7.31

Dividend Yield1.31 %

ROCE25.1 %

ROE25.8 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Mobile Services - India: 52.3% • Mobile Services - Africa: 26.7% • Airtel Business: 8.9%

AI Sector View

AI GENERATED

Telecommunication

Hold

Telecom operating proxies are steady, with telecom subscriber base up 11.0% YoY (2026-06) and broadband subscriber base also up 11.0% YoY (2026-06). However, persistent FPI outflows of INR -11055 crore over 3 months to 2026-08-31 suggest weak investor appetite. That combination supports a neutral rather than positive stance.

Confidence

58%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 25.0%
Company has a healthy return on capital (ROCE) of 21.4%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 34.9% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.75x)
Operating margins have improved to 56.6% from 51.9%

CONS

Promoter holding has decreased over last 2 years: -3.1pp
Working capital days have increased from -238 to -146 days
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 7.3x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

TelecommunicationTelecomTelecommunication - Service Provider

Part ofNIFTY 50 NIFTYLARGEMIDCAP250 NIFTY100 LOWVOL30 NIFTY CONSUMPTION NIFTY100 EQL WGT

S.No.	Name
1.	BHARTIARTL	1837.00	39.65	1146500.05	1.31	10011.60	34.89	58539.10	18.35	25.05	57.07
2.	IDEA	14.96	4.33	162081.18	0.00	-3754.00	43.19	11689.00	6.19	46.77	43.07
3.	INDUSTOWER	372.70	13.74	98324.33	3.76	1745.80	0.52	8431.10	4.64	30.51	53.11
4.	BHARTIHEXA	1539.25	42.19	76962.50	1.17	4824.00	1131.87	25099.00	1009.10	29.30	52.68
5.	TATACOMM	1763.90	53.17	50286.26	0.99	129.72	-31.78	6582.82	10.45	15.75	18.75
6.	RAILTEL	262.55	41.79	8426.24	1.24	38.39	48.51	467.61	24.08	23.03	15.86
7.	TTML	35.93	87.55	7024.06	0.00	-72.15	77.80	301.57	6.09	157.86	53.91
8.	HATHWAY	10.19	23.80	1803.74	0.00	24.56	-20.85	565.10	6.52	2.55	13.43
9.	MTNL	25.14	0.00	1583.82	0.00	-842.36	10.69	216.89	229.92	-6.76	-15.07
10.	GTL	7.23	0.14	113.73	0.00	4520.66	2243.77	497.08	-28.12	0.00	27.04

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37,440	37,044	37,900	37,599	38,506	41,473	45,129	47,876	49,463	52,145	53,982	55,383	58,539
	17,842	17,530	18,085	18,234	18,799	19,627	20,533	20,867	21,624	22,584	23,199	23,892	45,428
Operating Profit	19,598	19,514	19,815	19,365	19,708	21,846	24,597	27,009	27,839	29,561	30,783	31,492	13,111
OPM %	52.35%	52.68%	52.28%	51.50%	51.18%	52.68%	54.50%	56.41%	56.28%	56.69%	57.02%	56.86%	22.40%
	-3,068	-1,240	310	-2,139	1,098	-599	8,015	346	509	728	445	-2,282	1,260
Interest	5,614	5,186	6,645	5,203	5,152	5,424	5,676	5,502	5,461	4,866	5,623	5,606	5,956
Depreciation	9,654	9,734	10,074	10,075	10,540	11,000	11,704	12,326	12,465	13,182	13,420	13,644	14,235
Profit before Tax	1,263	3,354	3,405	1,948	5,114	4,824	15,232	9,526	10,422	12,241	12,185	9,960	13,773
Tax %	26.34%	55.06%	36.18%	36.44%	25.57%	36.16%	4.97%	-30.36%	29.58%	29.99%	31.17%	8.00%	27.31%
Net Profit	15,202	2,093	0	0	4,718	4,153	16,135	12,476	7,422	8,651	8,503	9,247	10,012
	2.84	2.36	4.27	3.61	7.21	6.21	25.54	19.02	10.26	11.72	11.44	12.53	13.38

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	95,468	82,639	80,780	84,676	1,00,616	1,16,547	1,39,145	1,49,982	1,72,985	2,10,973	2,20,049
	60,270	52,602	56,626	50,423	55,244	59,013	67,871	72,141	79,903	91,504	1,15,102
Operating Profit	35,198	30,037	24,154	34,253	45,372	57,534	71,273	77,841	93,082	1,19,469	1,04,947
OPM %	36.87%	36.35%	29.90%	40.45%	45.09%	49.37%	51.22%	51.90%	53.81%	56.63%	47.69%
	800	738	5,728	-38,554	-15,272	2,233	267	-5,686	8,938	-394	151
Interest	9,547	9,326	10,622	14,073	15,091	16,616	19,300	22,648	21,754	21,555	22,051
Depreciation	19,773	19,243	21,348	27,094	29,404	33,091	36,432	39,538	45,570	52,711	54,481
Profit before Tax	7,723	3,267	-1,732	-46,130	-14,488	12,483	16,561	12,679	38,398	45,173	48,159
Tax %	45.08%	33.16%	197.44%	27.12%	-61.65%	33.47%	25.80%	32.50%	2.39%	25.13%	24.98%
Net Profit	4,241	2,184	1,688	-33,618	-23,421	8,305	12,287	8,558	37,481	33,823	36,131
EPS	9.51	2.75	0.96	-63.41	-27.52	7.61	14.57	12.98	57.85	43.81	—
Dividend Payout %	10.52%	194.23%	244.04%	-3.39%	0.00%	39.41%	27.19%	61.64%	27.66%	54.78%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 16%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: —
3 Years:: 47%

STOCK PRICE CAGR

10 Years:: 20%
5 Years:: 22%
3 Years:: 27%
1 Year:: -4%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 21%
3 Years:: 25%
Last Year:: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,999	1,999	1,999	2,728	2,746	2,795	2,837	2,877	2,900	3,047
Minority Interest	6,875	8,814	13,526	24,985	22,274	25,381	28,881	23,545	39,796	46,907
	65,051	67,458	69,349	74,350	56,119	63,659	74,552	78,933	1,10,490	1,45,740
	1,07,174	1,06,618	1,26,531	1,41,423	1,59,502	1,72,077	2,21,079	2,14,455	1,99,600	1,78,615
Trade Payables	26,854	26,854	26,314	24,367	27,885	29,274	32,895	35,132	38,154	45,015
	22,694	35,907	28,500	65,911	57,416	50,546	67,439	70,346	98,509	1,13,687
Total Liabilities	2,30,646	2,47,649	2,66,218	3,33,763	3,25,941	3,43,731	4,27,681	4,25,288	4,89,449	5,33,010
	1,78,235	1,87,200	2,00,832	2,29,256	2,23,480	2,44,083	2,77,394	3,03,303	3,88,468	4,06,337
Capital Work in Progress	2,394	5,209	8,843	3,997	4,366	4,239	11,029	8,908	10,596	12,613
	14,339	16,159	15,711	25,476	27,550	29,349	32,954	31,602	5,838	18,901
	49	69	88	157	266	375	258	364	452	601
	0	0	0	0	0	4,056	0	4,728	7,456	7,978
Cash & Bank	5,098	6,671	8,064	15,893	13,471	13,494	13,419	16,340	16,720	30,377
	30,531	32,341	32,680	58,984	56,808	48,134	92,628	60,044	59,919	56,204
Total Assets	2,30,646	2,47,649	2,66,218	3,33,763	3,25,941	3,43,731	4,27,681	4,25,288	4,89,449	5,33,010

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	31,439	31,226	21,241	20,422	50,438	55,017	69,116	78,898	98,332	1,22,230
Cash from Investing	-30,604	-27,968	-28,501	-30,492	-26,888	-41,870	-39,080	-50,204	-60,270	-58,534
Cash from Financing	-351	1,920	9,464	19,144	-24,910	-15,203	-24,470	-27,778	-36,533	-52,293
	-2,676	3,807	1,033	6,781	-3,594	-2,056	1,775	916	1,529	11,402

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	53.17	53.14	53.11	52.42	51.25	50.27	48.87	48.87	50.07
	24.62	25.08	24.27	25.41	26.72	27.42	28.75	27.79	26.48
	19.13	18.65	19.48	19.23	19.09	19.40	19.54	20.53	20.64
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	2.95	3.01	3.02	2.85	2.81	2.79	2.72	2.68	2.68

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-10 - Bharti Airtel Limited has informed the Exchange about Schedule of meet

2026-09-10

Action(s) taken or orders passed

2026-09-10 - Bharti Airtel Limited has informed the Exchange about Action(s) taken or orders passed

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Bharti Airtel Limited has informed the Exchange about Schedule of meet

2026-08-31

Action(s) taken or orders passed

2026-08-31 - Bharti Airtel Limited has informed the Exchange about Action(s) taken or orders passed

2026-08-25

Action(s) taken or orders passed

2026-08-25 - Bharti Airtel Limited has informed the Exchange about Action(s) taken or orders passed

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Bharti Airtel Limited has informed the Exchange about Schedule of meet

2026-08-18

Updates

2026-08-18 - Bharti Airtel Limited has informed the Exchange regarding 'Update on conversion of partly paid-up equity shares into fully paid-up equity shares, upon receipt of First and Final Call pursuant to Reminder Notice issued by the Company'.

2026-08-17

Updates

2026-08-17 - Bharti Airtel Limited has informed the Exchange regarding an update.

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Bharti Airtel Limited has informed the Exchange about Schedule of meet

News

Recent coverage and analyst commentary for BHARTIARTL

Loading news…

🤖

AI Stock Analyst

Bharti Airtel Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

BHARTIARTL

1837.00

39.65

1146500.05

1.31

10011.60

34.89

58539.10

18.35

25.05

57.07

IDEA

14.96

4.33

162081.18

0.00

-3754.00

43.19

11689.00

6.19

46.77

43.07

INDUSTOWER

372.70

13.74

98324.33

3.76

1745.80

0.52

8431.10

4.64

30.51

53.11

BHARTIHEXA

1539.25

42.19

76962.50

1.17

4824.00

1131.87

25099.00

1009.10

29.30

52.68

TATACOMM

1763.90

53.17

50286.26

0.99

129.72

-31.78

6582.82

10.45

15.75

18.75

RAILTEL

262.55

41.79

8426.24

1.24

38.39

48.51

467.61

24.08

23.03

15.86

TTML

35.93

87.55

7024.06

0.00

-72.15

77.80

301.57

6.09

157.86

53.91

HATHWAY

10.19

23.80

1803.74

0.00

24.56

-20.85

565.10

6.52

2.55

13.43

MTNL

25.14

0.00

1583.82

0.00

-842.36

10.69

216.89

229.92

-6.76

-15.07

GTL

7.23

0.14

113.73

0.00

4520.66

2243.77

497.08

-28.12

0.00

27.04

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

37,440

37,044

37,900

37,599

38,506

41,473

45,129

47,876

49,463

52,145

53,982

55,383

58,539

17,842

17,530

18,085

18,234

18,799

19,627

20,533

20,867

21,624

22,584

23,199

23,892

45,428

Operating Profit

19,598

19,514

19,815

19,365

19,708

21,846

24,597

27,009

27,839

29,561

30,783

31,492

13,111

OPM %

52.35%

52.68%

52.28%

51.50%

51.18%

52.68%

54.50%

56.41%

56.28%

56.69%

57.02%

56.86%

22.40%

-3,068

-1,240

310

-2,139

1,098

-599

8,015

346

509

728

445

-2,282

1,260

Interest

5,614

5,186

6,645

5,203

5,152

5,424

5,676

5,502

5,461

4,866

5,623

5,606

5,956

Depreciation

9,654

9,734

10,074

10,075

10,540

11,000

11,704

12,326

12,465

13,182

13,420

13,644

14,235

Profit before Tax

1,263

3,354

3,405

1,948

5,114

4,824

15,232

9,526

10,422

12,241

12,185

9,960

13,773

Tax %

26.34%

55.06%

36.18%

36.44%

25.57%

36.16%

4.97%

-30.36%

29.58%

29.99%

31.17%

8.00%

27.31%

Net Profit

15,202

2,093

4,718

4,153

16,135

12,476

7,422

8,651

8,503

9,247

10,012

2.84

2.36

4.27

3.61

7.21

6.21

25.54

19.02

10.26

11.72

11.44

12.53

13.38

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

95,468

82,639

80,780

84,676

1,00,616

1,16,547

1,39,145

1,49,982

1,72,985

2,10,973

2,20,049

60,270

52,602

56,626

50,423

55,244

59,013

67,871

72,141

79,903

91,504

1,15,102

Operating Profit

35,198

30,037

24,154

34,253

45,372

57,534

71,273

77,841

93,082

1,19,469

1,04,947

OPM %

36.87%

36.35%

29.90%

40.45%

45.09%

49.37%

51.22%

51.90%

53.81%

56.63%

47.69%

800

738

5,728

-38,554

-15,272

2,233

267

-5,686

8,938

-394

151

Interest

9,547

9,326

10,622

14,073

15,091

16,616

19,300

22,648

21,754

21,555

22,051

Depreciation

19,773

19,243

21,348

27,094

29,404

33,091

36,432

39,538

45,570

52,711

54,481

Profit before Tax

7,723

3,267

-1,732

-46,130

-14,488

12,483

16,561

12,679

38,398

45,173

48,159

Tax %

45.08%

33.16%

197.44%

27.12%

-61.65%

33.47%

25.80%

32.50%

2.39%

25.13%

24.98%

Net Profit

4,241

2,184

1,688

-33,618

-23,421

8,305

12,287

8,558

37,481

33,823

36,131

EPS

9.51

2.75

0.96

-63.41

-27.52

7.61

14.57

12.98

57.85

43.81

—

Dividend Payout %

10.52%

194.23%

244.04%

-3.39%

0.00%

39.41%

27.19%

61.64%

27.66%

54.78%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,999

2,728

2,746

2,795

2,837

2,877

2,900

3,047

Minority Interest

6,875

8,814

13,526

24,985

22,274

25,381

28,881

23,545

39,796

46,907

65,051

67,458

69,349

74,350

56,119

63,659

74,552

78,933

1,10,490

1,45,740

1,07,174

1,06,618

1,26,531

1,41,423

1,59,502

1,72,077

2,21,079

2,14,455

1,99,600

1,78,615

Trade Payables

26,854

26,314

24,367

27,885

29,274

32,895

35,132

38,154

45,015

22,694

35,907

28,500

65,911

57,416

50,546

67,439

70,346

98,509

1,13,687

Total Liabilities

2,30,646

2,47,649

2,66,218

3,33,763

3,25,941

3,43,731

4,27,681

4,25,288

4,89,449

5,33,010

1,78,235

1,87,200

2,00,832

2,29,256

2,23,480

2,44,083

2,77,394

3,03,303

3,88,468

4,06,337

Capital Work in Progress

2,394

5,209

8,843

3,997

4,366

4,239

11,029

8,908

10,596

12,613

14,339

16,159

15,711

25,476

27,550

29,349

32,954

31,602

5,838

18,901

157

266

375

258

364

452

601

4,056

4,728

7,456

7,978

Cash & Bank

5,098

6,671

8,064

15,893

13,471

13,494

13,419

16,340

16,720

30,377

30,531

32,341

32,680

58,984

56,808

48,134

92,628

60,044

59,919

56,204

Total Assets

2,30,646

2,47,649

2,66,218

3,33,763

3,25,941

3,43,731

4,27,681

4,25,288

4,89,449

5,33,010

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

31,439

31,226

21,241

20,422

50,438

55,017

69,116

78,898

98,332

1,22,230

Cash from Investing

-30,604

-27,968

-28,501

-30,492

-26,888

-41,870

-39,080

-50,204

-60,270

-58,534

Cash from Financing

-351

1,920

9,464

19,144

-24,910

-15,203

-24,470

-27,778

-36,533

-52,293

-2,676

3,807

1,033

6,781

-3,594

-2,056

1,775

916

1,529

11,402

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

53.17

53.14

53.11

52.42

51.25

50.27

48.87

50.07

24.62

25.08

24.27

25.41

26.72

27.42

28.75

27.79

26.48

19.13

18.65

19.48

19.23

19.09

19.40

19.54

20.53

20.64

Government

0.00

Public

2.95

3.01

3.02

2.85

2.81

2.79

2.72

2.68

Bharti Airtel Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Bharti Airtel Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI