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Bharti Airtel

₹1298.1 22.5 | 1.8%

Market Cap ₹787385 Cr.

Stock P/E 88.0

P/B 9.5

Current Price ₹1298.1

Book Value ₹ 136.4

Face Value 5

52W High ₹1364.1

Dividend Yield 0.31%

52W Low ₹ 783.9

Bharti Airtel Research see more...

Overview Inc. Year: 1995Industry: Telecommunication - Service Provider

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 era (2G / 3G / 4G) offered to customers in Africa. The Mobile Services South Asia segment consists of voice and information telecom services supplied through wireless generation (2G / 3G) in Sri Lanka. The Tower Infrastructure Services section consists of setting up, operating and maintaining wireless communication towers in India. The Digital TV Services section includes digital broadcasting offerings provided underneath the direct-to-home platform.

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Bharti Airtel Share Price

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Bharti Airtel Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 28326 29867 31500 32805 34527 35804 36009 37440 37044 37900
Other Income 109 197 19 192 202 258 285 348 330 440
Total Income 28435 30064 31519 32997 34729 36062 36294 37788 37374 38339
Total Expenditure 14516 15164 15460 16275 16933 17351 17312 17842 17530 18085
Operating Profit 13919 14900 16059 16722 17796 18711 18982 19947 19844 20255
Interest 3964 4367 4059 4511 4940 4686 5163 5614 5186 6645
Depreciation 8247 8547 8583 8781 8947 9298 9406 9654 9734 10074
Exceptional Income / Expenses 722 40 906 0 0 -670 0 -3416 -1570 -130
Profit Before Tax 2430 2025 4323 3429 3909 4058 4413 1263 3354 3405
Provision for Tax 1031 991 1322 1123 1286 1076 788 333 1847 1232
Profit After Tax 1399 1035 3001 2306 2622 2982 3625 930 1507 2173
Adjustments -265 -205 -994 -699 -477 -1394 -619 682 -167 269
Profit After Adjustments 1134 830 2008 1607 2145 1588 3006 1613 1341 2442
Adjusted Earnings Per Share 2.1 1.5 3.6 2.9 3.8 2.8 5.3 2.8 2.3 4.3

Bharti Airtel Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 76947 85864 96101 96532 95468 82639 80780 84677 100616 116547 139145 148393
Other Income 510 1041 2096 1720 1970 1531 2799 1536 643 534 937 1403
Total Income 77457 86904 98197 98252 97438 84170 83579 86212 101259 117081 140081 149795
Total Expenditure 53689 58087 62499 62650 60270 52602 56626 50423 55244 59013 67871 70769
Operating Profit 23768 28818 35698 35602 37168 31568 26954 35789 46015 58068 72210 79028
Interest 4519 5879 4447 8546 9547 9326 10622 14073 15091 16616 19300 22608
Depreciation 14815 15650 19858 17450 19773 19243 21348 27094 29404 33091 36432 38868
Exceptional Income / Expenses 0 54 -853 2174 -1170 -793 2929 -40089 -15915 1699 -670 -5116
Profit Before Tax 4785 7864 10540 12846 7723 3267 -1732 -46130 -14488 12483 16561 12435
Provision for Tax 2518 4845 5487 5953 3482 1084 -3419 -12512 8933 4178 4273 4200
Profit After Tax 2267 3019 5053 6893 4241 2184 1688 -33618 -23421 8305 12287 8235
Adjustments 0 0 -432 -816 -442 -1085 -1278 1435 8337 -4050 -3942 165
Profit After Adjustments 2267 3019 4621 6077 3800 1099 410 -32183 -15084 4255 8346 8402
Adjusted Earnings Per Share 5.4 6.8 10.4 13.7 8.6 2.5 0.9 -57.9 -26.9 7.6 14.7 14.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 19% 18% 11% 6%
Operating Profit CAGR 24% 26% 18% 12%
PAT CAGR 48% 0% 41% 18%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 63% 32% 32% 16%
ROE Average 17% -1% -9% -0%
ROCE Average 16% 11% 4% 7%

Bharti Airtel Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 50322 59756 39777 66769 67456 69534 71422 77145 58953 66554 77563
Minority's Interest 4089 4210 6891 5498 6875 8814 13526 24985 22274 25381 28881
Borrowings 57882 56393 61116 89269 89637 84942 82490 91079 110560 113535 151569
Other Non-Current Liabilities -971 -250 8253 853 3217 6118 5767 9067 22519 24235 47705
Total Current Liabilities 42055 56805 84531 58828 63460 78240 93013 131488 111564 114026 121964
Total Liabilities 153376 176915 200567 221321 230646 247649 266218 333763 325941 343731 427681
Fixed Assets 128666 140615 124279 172293 178235 187200 200832 229256 223480 244083 277394
Other Non-Current Assets 5019 13914 35746 25901 34207 26949 32522 27864 47709 47620 92786
Total Current Assets 19691 22386 40543 22439 18204 33499 32864 76643 54553 52028 57501
Total Assets 153376 176915 200567 221321 230646 247649 266218 333763 325941 343731 427681

Bharti Airtel Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 765 131 5112 -141 1764 -988 4131 5379 13054 9063 7399
Cash Flow from Operating Activities 22770 26233 28059 27942 28280 29854 20070 18129 48205 55017 65325
Cash Flow from Investing Activities -18676 -24973 -22305 -14226 -30604 -27968 -28501 -30492 -26888 -41870 -39080
Cash Flow from Financing Activities -4566 2774 -9672 -11946 -351 1921 9464 19144 -24910 -15203 -24470
Net Cash Inflow / Outflow -472 4034 -3919 1771 -2676 3807 1033 6781 -3594 -2056 1775
Closing Cash & Cash Equivalent 131 3958 1198 1764 -988 2847 5379 13054 9063 7399 9021

Bharti Airtel Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 5.38 6.8 10.41 13.69 8.56 2.48 0.92 -57.88 -26.95 7.61 14.71
CEPS(Rs) 40.51 42.06 56.13 54.85 54.11 48.28 51.9 -11.73 10.69 74.05 85.88
DPS(Rs) 1 1.8 3.85 1.36 1 5.34 2.5 2 0 3 4
Book NAV/Share(Rs) 119.35 134.64 89.32 149.28 151.07 156.5 160.76 138.62 105.16 118.88 136.41
Core EBITDA Margin(%) 30.23 32.35 34.97 35.1 36.87 36.35 29.9 40.45 45.09 49.37 51.22
EBIT Margin(%) 12.09 16.01 15.59 22.16 18.09 15.24 11.01 -37.86 0.6 24.97 25.77
Pre Tax Margin(%) 6.22 9.16 10.97 13.31 8.09 3.95 -2.14 -54.48 -14.4 10.71 11.9
PAT Margin (%) 2.95 3.52 5.26 7.14 4.44 2.64 2.09 -39.7 -23.28 7.13 8.83
Cash Profit Margin (%) 22.2 21.74 25.92 25.22 25.15 25.93 28.52 -7.7 5.95 35.52 35.01
ROA(%) 1.48 1.83 2.68 3.27 1.88 0.91 0.66 -11.21 -7.1 2.48 3.19
ROE(%) 4.49 5.49 10.17 13.02 6.36 3.2 2.4 -45.3 -34.46 13.25 17.08
ROCE(%) 7.82 10.78 11.52 14.73 10.1 7.08 4.77 -16.57 0.31 14.99 16.21
Receivable days 31.2 27.69 21.75 20.25 19.58 23.46 23.01 19.2 14.96 12.05 10.54
Inventory Days 0.57 0.54 0.98 1.54 0.94 0.26 0.36 0.53 0.77 1 0.83
Payable days 0 0 0 0 0 9807.47 8938.78 7137.84 5246.73 4074.38 3379.84
PER(x) 48.88 42.22 34.08 23.08 36.81 145.09 324.96 0 0 99.24 50.91
Price/Book(x) 2.2 2.13 3.97 2.12 2.09 2.3 1.87 3.12 4.83 6.35 5.49
Dividend Yield(%) 0.34 0.56 0.98 0.39 0.29 1.34 0.75 0.45 0 0.4 0.53
EV/Net Sales(x) 2.3 2.33 2.48 2.44 2.54 3.2 3.04 4.04 3.98 4.65 4.15
EV/Core EBITDA(x) 7.44 6.93 6.69 6.62 6.51 8.37 9.12 9.56 8.7 9.33 7.99
Net Sales Growth(%) 7.61 11.59 11.92 0.45 -1.1 -13.44 -2.25 4.82 18.82 15.83 19.39
EBIT Growth(%) -12.24 47.71 9.05 42.75 -19.27 -27.08 -29.4 -460.58 101.88 4727.36 23.24
PAT Growth(%) -46.76 33.2 67.35 36.41 -38.47 -48.52 -22.72 -2092.18 30.33 135.46 47.95
EPS Growth(%) -46.75 26.54 53.04 31.51 -37.47 -71.08 -62.74 -6372.69 53.44 128.25 93.27
Debt/Equity(x) 1.35 1.29 2.1 1.52 1.6 1.6 1.69 1.53 2.2 2 2.14
Current Ratio(x) 0.47 0.39 0.48 0.38 0.29 0.43 0.35 0.58 0.49 0.46 0.47
Quick Ratio(x) 0.47 0.39 0.48 0.37 0.29 0.43 0.35 0.58 0.49 0.45 0.47
Interest Cover(x) 2.06 2.34 3.37 2.5 1.81 1.35 0.84 -2.28 0.04 1.75 1.86
Total Debt/Mcap(x) 0.61 0.61 0.53 0.72 0.77 0.7 0.91 0.49 0.46 0.3 0.37

Bharti Airtel Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 55.93 55.93 55.93 55.13 55.12 55.02 54.97 54.75 54.57 53.49
FII 19.37 19.36 18.54 21.87 21.7 20.98 21.48 21.87 22.68 24.35
DII 19.48 19.5 20.22 18.89 19.13 19.91 19.66 19.81 19.62 19.31
Public 5.22 5.21 5.31 4.1 4.04 4.09 3.88 3.58 3.13 2.85
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 41% CAGR over last 5 years
  • Debtor days have improved from 4074.38 to 3379.84days.

Cons

  • Company has a low return on equity of -1% over the last 3 years.
  • Stock is trading at 9.5 times its book value.

* 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.

Bharti Airtel News

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