Bharti Hexacom Ltd.

•

bhartihexacom.inBSE: 544162NSE: BHARTIHEXA

Market Cap₹ 77,172 Cr.

Current Price

High / Low₹ 1,956 / 1,430

Stock P/E42.3

Book Value₹ 153

Price to Book10.49

Dividend Yield1.17 %

ROCE29.3 %

ROE26.5 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Mobile Services: 95.9% • Homes and Office Services: 4.1%

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 healthy return on capital (ROCE) of 23.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 22.0%
Operating margins have improved to 52.3% from 44.5%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.37x)
Company has delivered good sales growth of 15.2% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 51.9%

CONS

Stock is trading at 10.5x its book value
Recurring exceptional / one-off items are inflating headline profit
Working capital days have increased from -210 to -144 days

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

Peer comparison

TelecommunicationTelecomTelecommunication - Service Provider

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY 500

S.No.	Name
1.	BHARTIARTL	1832.00	39.54	1143379.47	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	387.65	14.30	102268.38	3.61	1745.80	0.52	8431.10	4.64	30.51	53.11
4.	BHARTIHEXA	1543.45	42.31	77172.50	1.17	4824.00	1131.87	25099.00	1009.10	29.30	52.68
5.	TATACOMM	1763.25	53.15	50267.73	0.99	129.72	-31.78	6582.82	10.45	15.75	18.75
6.	RAILTEL	259.85	41.36	8339.58	1.25	38.39	48.51	467.61	24.08	23.03	15.86
7.	TTML	35.59	86.72	6957.59	0.00	-72.15	77.80	301.57	6.09	157.86	53.91
8.	HATHWAY	10.25	23.94	1814.36	0.00	24.56	-20.85	565.10	6.52	2.55	13.43
9.	MTNL	24.71	0.00	1556.73	0.00	-842.36	10.69	216.89	229.92	-6.76	-15.07
10.	GTL	7.25	0.14	114.04	0.00	4520.66	2243.77	497.08	-28.12	0.00	27.04

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,682	1,738	1,801	1,868	1,911	2,098	2,251	2,289	2,263	2,317	2,360	2,414	2,510
	852	913	973	990	1,035	1,096	1,099	1,121	1,102	1,109	1,105	1,146	1,929
Operating Profit	830	826	827	878	876	1,002	1,152	1,168	1,161	1,208	1,254	1,267	581
OPM %	49.35%	47.51%	45.96%	46.99%	45.84%	47.76%	51.17%	51.02%	51.29%	52.13%	53.16%	52.50%	23.14%
	80	-246	62	49	358	49	-61	48	48	61	28	53	72
Interest	154	156	169	166	162	175	180	171	154	151	147	149	149
Depreciation	414	432	433	460	496	536	532	531	527	554	567	565	592
Profit before Tax	342	-8	288	301	577	340	379	513	527	564	569	606	653
Tax %	25.92%	-2322.37%	26.17%	26.05%	11.37%	25.45%	31.22%	8.73%	25.66%	25.33%	16.75%	26.31%	26.13%
Net Profit	253	-184	213	223	511	253	261	468	392	421	474	447	482
	5.06	-3.68	4.26	4.45	10.22	5.06	5.22	9.37	7.83	8.42	9.47	8.93	9.65

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,126	4,408	3,614	3,874	4,602	5,405	6,579	7,089	8,548	9,354	9,601
	3,178	3,640	3,599	3,399	3,550	3,596	3,793	3,728	4,351	4,463	5,290
Operating Profit	1,948	768	15	475	1,052	1,809	2,786	3,361	4,197	4,890	4,311
OPM %	38.01%	17.42%	0.41%	12.26%	22.87%	33.47%	42.34%	47.42%	49.10%	52.28%	44.90%
	-24	59	118	-2,134	-193	2,045	140	-53	394	190	215
Interest	94	134	248	526	564	572	639	645	688	601	596
Depreciation	851	869	1,009	1,250	1,285	1,441	1,553	1,739	2,094	2,213	2,278
Profit before Tax	980	-176	-1,123	-3,435	-989	1,841	734	923	1,809	2,266	2,392
Tax %	32.61%	36.46%	35.70%	20.91%	-4.53%	9.04%	25.16%	45.37%	17.43%	23.52%	23.76%
Net Profit	660	-112	-722	-2,716	-1,034	1,675	549	504	1,494	1,733	1,824
EPS	26.40	-4.48	-28.88	-108.64	-41.36	66.98	10.98	10.09	29.87	34.66	—
Dividend Payout %	35.10%	-60.77%	0.00%	0.00%	0.00%	0.00%	13.66%	39.65%	33.48%	51.93%	—

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 15%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

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

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -11%

RETURN ON EQUITY

10 Years:: 3%
5 Years:: 28%
3 Years:: 22%
Last Year:: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	250	250	250	250	250	250	250	250	250	250
	6,433	6,239	5,518	2,770	1,736	3,410	3,960	4,389	5,682	6,915
	1,436	2,187	2,957	6,569	7,256	9,204	7,881	8,305	7,326	5,937
Trade Payables	740	981	1,380	1,838	2,224	1,495	1,441	1,485	1,586	1,606
	786	608	842	2,847	2,421	1,368	3,959	3,231	3,385	3,347
Total Liabilities	9,645	10,265	10,946	14,273	13,887	15,727	17,490	17,660	18,229	18,056
	8,308	8,683	9,226	9,874	10,304	10,234	11,174	13,615	14,733	14,038
Capital Work in Progress	63	133	162	110	71	64	456	197	297	476
	0	0	0	625	0	49	1,046	238	74	631
	0	0	0	0	0	0	0	445	108	108
Cash & Bank	96	106	31	307	59	121	89	74	37	61
	1,177	1,342	1,527	3,357	3,453	5,259	4,725	3,091	2,980	2,741
Total Assets	9,645	10,265	10,946	14,273	13,887	15,727	17,490	17,660	18,229	18,056

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,808	990	580	-294	1,551	1,273	5,128	3,546	4,583	4,464
Cash from Investing	-1,644	-1,488	-1,166	-1,076	-882	-1,382	-2,031	-1,155	-2,341	-2,010
Cash from Financing	5	288	560	1,864	-604	183	-3,111	-2,404	-2,265	-2,438
	-123	-212	-114	473	30	59	-34	-13	-23	16

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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
	70.00	70.00	70.00	70.00	70.00	70.00	70.00	70.00	70.00
	4.54	5.06	5.02	4.33	4.33	3.94	3.98	3.69	3.58
	9.14	8.88	9.28	9.97	9.81	10.24	10.28	10.60	10.64
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	16.30	16.05	15.71	15.70	15.86	15.82	15.74	15.71	15.78

Documents

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

2026-09-10

Analysts/Institutional Investor Meet/Con. Call Updates

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

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

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

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

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

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

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

2026-08-11

Shareholders meeting

2026-08-11 - Bharti Hexacom Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-11

Shareholders meeting

2026-08-11 - Bharti Hexacom Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026.

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Bharti Hexacom Limited has informed the Exchange about Transcript

2026-08-05

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Bharti Hexacom Limited has informed the Exchange about audio/ video recording of the Earnings Call held today, i.e. August 05, 2026 in respect of the audited financial results of the Company for the first quarter ended June 30, 2026, has been uploaded on the Company's website.

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Bharti Hexacom Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for BHARTIHEXA

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Bharti Hexacom Ltd.

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Name

BHARTIARTL

1832.00

39.54

1143379.47

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

387.65

14.30

102268.38

3.61

1745.80

0.52

8431.10

4.64

30.51

53.11

BHARTIHEXA

1543.45

42.31

77172.50

1.17

4824.00

1131.87

25099.00

1009.10

29.30

52.68

TATACOMM

1763.25

53.15

50267.73

0.99

129.72

-31.78

6582.82

10.45

15.75

18.75

RAILTEL

259.85

41.36

8339.58

1.25

38.39

48.51

467.61

24.08

23.03

15.86

TTML

35.59

86.72

6957.59

0.00

-72.15

77.80

301.57

6.09

157.86

53.91

HATHWAY

10.25

23.94

1814.36

0.00

24.56

-20.85

565.10

6.52

2.55

13.43

MTNL

24.71

0.00

1556.73

0.00

-842.36

10.69

216.89

229.92

-6.76

-15.07

GTL

7.25

0.14

114.04

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

1,682

1,738

1,801

1,868

1,911

2,098

2,251

2,289

2,263

2,317

2,360

2,414

2,510

852

913

973

990

1,035

1,096

1,099

1,121

1,102

1,109

1,105

1,146

1,929

Operating Profit

830

826

827

878

876

1,002

1,152

1,168

1,161

1,208

1,254

1,267

581

OPM %

49.35%

47.51%

45.96%

46.99%

45.84%

47.76%

51.17%

51.02%

51.29%

52.13%

53.16%

52.50%

23.14%

-246

358

-61

Interest

154

156

169

166

162

175

180

171

154

151

147

149

Depreciation

414

432

433

460

496

536

532

531

527

554

567

565

592

Profit before Tax

342

-8

288

301

577

340

379

513

527

564

569

606

653

Tax %

25.92%

-2322.37%

26.17%

26.05%

11.37%

25.45%

31.22%

8.73%

25.66%

25.33%

16.75%

26.31%

26.13%

Net Profit

253

-184

213

223

511

253

261

468

392

421

474

447

482

5.06

-3.68

4.26

4.45

10.22

5.06

5.22

9.37

7.83

8.42

9.47

8.93

9.65

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,126

4,408

3,614

3,874

4,602

5,405

6,579

7,089

8,548

9,354

9,601

3,178

3,640

3,599

3,399

3,550

3,596

3,793

3,728

4,351

4,463

5,290

Operating Profit

1,948

768

475

1,052

1,809

2,786

3,361

4,197

4,890

4,311

OPM %

38.01%

17.42%

0.41%

12.26%

22.87%

33.47%

42.34%

47.42%

49.10%

52.28%

44.90%

-24

118

-2,134

-193

2,045

140

-53

394

190

215

Interest

134

248

526

564

572

639

645

688

601

596

Depreciation

851

869

1,009

1,250

1,285

1,441

1,553

1,739

2,094

2,213

2,278

Profit before Tax

980

-176

-1,123

-3,435

-989

1,841

734

923

1,809

2,266

2,392

Tax %

32.61%

36.46%

35.70%

20.91%

-4.53%

9.04%

25.16%

45.37%

17.43%

23.52%

23.76%

Net Profit

660

-112

-722

-2,716

-1,034

1,675

549

504

1,494

1,733

1,824

EPS

26.40

-4.48

-28.88

-108.64

-41.36

66.98

10.98

10.09

29.87

34.66

—

Dividend Payout %

35.10%

-60.77%

0.00%

13.66%

39.65%

33.48%

51.93%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

250

6,433

6,239

5,518

2,770

1,736

3,410

3,960

4,389

5,682

6,915

1,436

2,187

2,957

6,569

7,256

9,204

7,881

8,305

7,326

5,937

Trade Payables

740

981

1,380

1,838

2,224

1,495

1,441

1,485

1,586

1,606

786

608

842

2,847

2,421

1,368

3,959

3,231

3,385

3,347

Total Liabilities

9,645

10,265

10,946

14,273

13,887

15,727

17,490

17,660

18,229

18,056

8,308

8,683

9,226

9,874

10,304

10,234

11,174

13,615

14,733

14,038

Capital Work in Progress

133

162

110

456

197

297

476

625

1,046

238

631

445

108

Cash & Bank

106

307

121

1,177

1,342

1,527

3,357

3,453

5,259

4,725

3,091

2,980

2,741

Total Assets

9,645

10,265

10,946

14,273

13,887

15,727

17,490

17,660

18,229

18,056

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

1,808

990

580

-294

1,551

1,273

5,128

3,546

4,583

4,464

Cash from Investing

-1,644

-1,488

-1,166

-1,076

-882

-1,382

-2,031

-1,155

-2,341

-2,010

Cash from Financing

288

560

1,864

-604

183

-3,111

-2,404

-2,265

-2,438

-123

-212

-114

473

-34

-13

-23

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

70.00

4.54

5.06

5.02

4.33

3.94

3.98

3.69

3.58

9.14

8.88

9.28

9.97

9.81

10.24

10.28

10.60

10.64

Government

0.00

16.30

16.05

15.71

15.70

15.86

15.82

15.74

15.71

15.78

Bharti Hexacom Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Bharti Hexacom 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