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Bharti Airtel Overview

Bharti Airtel Limited is a global telecommunications agency with operations in 18 nations throughout Asia and Africa. Its segments are Mobile Services India, Mobile Services Africa, Mobile Services South Asia, Tower Infrastructure Services, Digital TV Services, Homes Services, Airtel Business and Others. The Mobile Services India segment consists of voice and data telecom offerings supplied through wireless technology (2G / 3G / 4G) in India. The Mobile Services Africa section consists of voice and records telecom offerings supplied via wi-fi e...Read More

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Bharti Airtel Key Financials

Market Cap ₹1225765 Cr.

Stock P/E 32.7

P/B 9.7

Current Price ₹2011.3

Book Value ₹ 207.3

Face Value 5

52W High ₹2174.7

Dividend Yield 0.8%

52W Low ₹ 1561

Bharti Airtel Share Price

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Volume
Price

Bharti Airtel Quarterly Price

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Bharti Airtel Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 37044 37900 37599 38506 41473 45129 47876 49463 52145 53982
Other Income 330 440 317 364 255 470 486 509 728 702
Total Income 37374 38339 37916 38870 41728 45599 48362 49971 52873 54684
Total Expenditure 17530 18085 18234 18799 19627 20533 20867 21624 22584 23199
Operating Profit 19844 20255 19682 20071 22101 25066 27495 28348 30289 31485
Interest 5186 6645 5203 5152 5424 5676 5502 5461 4866 5623
Depreciation 9734 10074 10075 10540 11000 11704 12326 12465 13182 13420
Exceptional Income / Expenses -1570 -130 -2456 735 -854 7546 -140 0 0 -257
Profit Before Tax 3354 3405 1948 5114 4824 15232 9526 10422 12241 12185
Provision for Tax 1847 1232 710 1308 1744 757 -2892 3083 3672 3799
Profit After Tax 1507 2173 1238 3806 3080 14475 12418 7339 8570 8387
Adjustments -167 269 834 354 514 306 -1396 -1391 -1778 -1756
Profit After Adjustments 1341 2442 2072 4160 3593 14781 11022 5948 6792 6631
Adjusted Earnings Per Share 2.3 4.3 3.6 7.2 6.2 25.5 19 10.3 11.7 11.4

Bharti Airtel Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 96101 96532 95468 82639 80780 84677 100616 116547 139145 149982 172985 203466
Other Income 2096 1720 1970 1531 2799 1536 643 534 937 1886 1651 2425
Total Income 98197 98252 97438 84170 83579 86212 101259 117081 140081 151868 174636 205890
Total Expenditure 62499 62650 60270 52602 56626 50423 55244 59013 67871 72141 79903 88274
Operating Profit 35698 35602 37168 31568 26954 35789 46015 58068 72210 79727 94733 117617
Interest 4447 8546 9547 9326 10622 14073 15091 16616 19300 22648 21754 21452
Depreciation 19858 17450 19773 19243 21348 27094 29404 33091 36432 39538 45570 51393
Exceptional Income / Expenses -853 2174 -1170 -793 2929 -40089 -15915 1699 -670 -7572 7287 -397
Profit Before Tax 10540 12846 7723 3267 -1732 -46130 -14488 12483 16561 12679 38399 44374
Provision for Tax 5487 5953 3482 1084 -3419 -12512 8933 4178 4273 4121 917 7662
Profit After Tax 5053 6893 4241 2184 1688 -33618 -23421 8305 12287 8558 37481 36714
Adjustments -432 -816 -442 -1085 -1278 1435 8337 -4050 -3942 -1091 -3925 -6321
Profit After Adjustments 4621 6077 3800 1099 410 -32183 -15084 4255 8346 7467 33556 30393
Adjusted Earnings Per Share 10.4 13.7 8.6 2.5 0.9 -57.9 -26.9 7.6 14.7 13 57.9 52.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 14% 15% 6%
Operating Profit CAGR 19% 18% 21% 10%
PAT CAGR 338% 65% 0% 22%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 19% 38% 28% 22%
ROE Average 38% 22% 9% 3%
ROCE Average 24% 18% 14% 9%

Bharti Airtel Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 39777 66769 67456 69534 71422 77145 58953 66554 77563 82019 113672
Minority's Interest 6891 5498 6875 8814 13526 24985 22274 25381 28881 23545 39796
Borrowings 61116 89269 89637 84942 82490 91079 110560 113535 151569 130963 104864
Other Non-Current Liabilities 8253 853 3217 6118 5767 9067 22519 24235 47705 50094 50678
Total Current Liabilities 84531 58828 63460 78240 93013 131488 111564 114026 121964 138668 180440
Total Liabilities 200567 221321 230646 247649 266218 333763 325941 343731 427681 425288 489449
Fixed Assets 124279 172293 178235 187200 200832 229256 223480 244083 277394 303303 388468
Other Non-Current Assets 35746 25901 34207 26949 32522 27864 47709 47620 92786 63709 33392
Total Current Assets 40543 22439 18204 33499 32864 76643 54553 52028 57501 58276 67589
Total Assets 200567 221321 230646 247649 266218 333763 325941 343731 427681 425288 489449

Bharti Airtel Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 5112 -141 1764 -988 4131 5379 13054 9063 7399 9021 9052
Cash Flow from Operating Activities 28059 27942 28280 29854 20070 18129 48205 55017 65325 78898 98332
Cash Flow from Investing Activities -22305 -14226 -30604 -27968 -28501 -30492 -26888 -41870 -39080 -50204 -60270
Cash Flow from Financing Activities -9672 -11946 -351 1921 9464 19144 -24910 -15203 -24470 -27779 -36533
Net Cash Inflow / Outflow -3919 1771 -2676 3807 1033 6781 -3594 -2056 1775 916 1529
Closing Cash & Cash Equivalent 1198 1764 -988 2847 5379 13054 9063 7399 9021 9052 10653

Bharti Airtel Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 10.41 13.69 8.56 2.48 0.92 -57.88 -26.95 7.61 14.71 12.98 57.85
CEPS(Rs) 56.13 54.85 54.11 48.28 51.9 -11.73 10.69 74.05 85.88 83.6 143.19
DPS(Rs) 3.47 1.22 0.9 4.81 2.25 1.96 0 3 4 8 16
Book NAV/Share(Rs) 89.32 149.28 151.07 156.5 160.76 138.62 105.16 118.88 136.41 142.2 195.49
Core EBITDA Margin(%) 34.97 35.1 36.87 36.35 29.9 40.45 45.09 49.37 51.22 51.9 53.81
EBIT Margin(%) 15.59 22.16 18.09 15.24 11.01 -37.86 0.6 24.97 25.77 23.55 34.77
Pre Tax Margin(%) 10.97 13.31 8.09 3.95 -2.14 -54.48 -14.4 10.71 11.9 8.45 22.2
PAT Margin (%) 5.26 7.14 4.44 2.64 2.09 -39.7 -23.28 7.13 8.83 5.71 21.67
Cash Profit Margin (%) 25.92 25.22 25.15 25.93 28.52 -7.7 5.95 35.52 35.01 32.07 48.01
ROA(%) 2.68 3.27 1.88 0.91 0.66 -11.21 -7.1 2.48 3.19 2.01 8.2
ROE(%) 10.17 13.02 6.36 3.2 2.4 -45.3 -34.46 13.25 17.08 10.75 38.4
ROCE(%) 11.58 14.73 10.1 7.08 4.77 -16.57 0.31 14.99 16.21 14.81 24.26
Receivable days 21.75 20.25 19.58 23.46 23.01 19.2 14.96 12.05 10.54 10.6 12.85
Inventory Days 0.98 1.54 0.94 0.26 0.36 0.53 0.77 1 0.83 0.76 0.86
Payable days 0 0 0 9807.47 8938.78 7137.84 5246.73 4075.29 3379.84 3120.12 5741.71
PER(x) 34.08 23.08 36.81 145.09 324.96 0 0 99.24 50.91 94.7 29.92
Price/Book(x) 3.97 2.12 2.09 2.3 1.87 3.12 4.83 6.35 5.49 8.64 8.85
Dividend Yield(%) 0.98 0.39 0.29 1.34 0.75 0.45 0 0.4 0.53 0.65 0.92
EV/Net Sales(x) 2.48 2.44 2.54 3.2 3.04 4.04 3.98 4.65 4.15 5.62 6.56
EV/Core EBITDA(x) 6.69 6.62 6.51 8.37 9.12 9.56 8.7 9.33 7.99 10.57 11.99
Net Sales Growth(%) 11.92 0.45 -1.1 -13.44 -2.25 4.82 18.82 15.83 19.39 7.79 15.34
EBIT Growth(%) 9.05 42.75 -19.27 -27.08 -29.4 -460.58 101.88 4727.36 23.24 -1.49 70.27
PAT Growth(%) 67.35 36.41 -38.47 -48.52 -22.72 -2092.18 30.33 135.46 47.95 -30.35 337.97
EPS Growth(%) 66.65 31.51 -37.47 -71.08 -62.74 -6372.69 53.44 128.25 93.27 -11.77 345.75
Debt/Equity(x) 2.1 1.52 1.6 1.6 1.69 1.53 2.2 2 2.14 1.86 1.31
Current Ratio(x) 0.48 0.38 0.29 0.43 0.35 0.58 0.49 0.46 0.47 0.42 0.37
Quick Ratio(x) 0.48 0.37 0.29 0.43 0.35 0.58 0.49 0.45 0.47 0.42 0.37
Interest Cover(x) 3.37 2.5 1.81 1.35 0.84 -2.28 0.04 1.75 1.86 1.56 2.77
Total Debt/Mcap(x) 0.53 0.72 0.77 0.7 0.91 0.49 0.46 0.3 0.37 0.2 0.14

Bharti Airtel Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 54.75 54.57 53.49 53.17 53.14 53.11 52.42 51.25 50.27 48.87
FII 21.87 22.68 24.35 24.62 25.08 24.27 25.41 26.72 27.42 28.76
DII 19.81 19.62 19.31 19.25 18.78 19.59 19.35 19.21 19.52 19.66
Public 3.58 3.13 2.85 2.95 3.01 3.02 2.82 2.81 2.79 2.72
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Bharti Airtel News

Bharti Airtel Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 22%
  • Company has reduced debt.

Cons

  • Promoter holding is low: 48.87%.
  • Debtor days have increased from 3120.12 to 5741.71days.
  • Stock is trading at 9.7 times its book value.
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