Bharti Airtel Limited
NSE: BHARTIARTL · Telecom - Cellular & Fixed line services · sector
₹1,917.50NSE close 2026-10-26
Key numbers
Market cap₹11,18,941 cr
Price₹1,917.50
52w high / low₹2,174 / ₹1,726
P/E39.1xSector median 27.1x
P/B7.5xSector median 11.4x
Book value₹255.4
Dividend yield1.02%Sector median 1.02%
ROE22.0%Sector median 27.9%
ROCE25.9%Sector median 25.9%
OPM55.1%Sector median 40.3%
Debt / equity0.82xSector median 0.82x
EV/EBITDA9.9xSector median 14.3x
Interest cover3.2x
Current ratio0.52x
Sales growth 3y+14.9%Sector median +1.2%
Profit growth 3y+47.3%Sector median +14.8%
PEG0.85x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Telecom - Cellular & Fixed line services (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹44,077 cr vs borrowings ₹1,21,671 cr (FY26): borrowings are higher by ₹77,594 cr.
- Borrowings fell in each of the last 3 years (₹1,65,545 cr → ₹1,21,671 cr).
- Operating profit covered interest 3.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 11% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹1,917.50 on 2026-10-26: -11.8% from the 52-week high, +11.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,161.60 · low ₹1,525.15
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41,473 | 45,129 | 47,876 | 49,463 | 52,145 | 53,982 | 55,383 | 58,539 |
| EBITDA | 20,992 | 32,142 | 26,869 | 27,839 | 29,561 | 30,526 | 28,331 | 32,949 |
| OPM % | 50.6% | 71.2% | 56.1% | 56.3% | 56.7% | 56.5% | 51.2% | 56.3% |
| Other income | 255 | 470 | 486 | 509 | 728 | 702 | 878 | 907 |
| Net profit | 3,593 | 14,781 | 11,022 | 5,948 | 6,792 | 6,630 | 7,325 | 8,167 |
| EPS (₹) | 6.21 | 25.54 | 19.02 | 10.26 | 11.66 | 11.44 | 12.53 | 13.38 |
| Revenue YoY | +25.7% | +19.6% | +15.7% | +18.4% | ||||
| Profit YoY | +89.0% | -55.1% | -33.5% | +37.3% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,16,547 | 1,39,145 | 1,49,982 | 1,72,985 | 2,10,973 | 2,20,049 |
| EBITDA | 59,232 | 70,604 | 70,720 | 1,00,446 | 1,16,257 | 1,21,368 |
| Net profit | 4,255 | 8,346 | 7,467 | 33,556 | 26,695 | 28,915 |
| EPS (₹) | 7.67 | 14.80 | 13.09 | 58.00 | 45.96 | 49.01 |
| Revenue growth | +19.4% | +7.8% | +15.3% | +22.0% | +19.6% | |
| Profit growth | +96.1% | -10.5% | +349.4% | -20.4% | -18.2% | |
| Dividend / share (₹) | – | 3.00 | 4.00 | 8.00 | 16.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.9% | +16.0% | +19.6% |
| Net profit | +47.3% | – | -18.2% |
| EPS | +45.9% | – | – |
| Share price | – | +5.7% (2y) | -7.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 77,563 | 82,019 | 1,13,672 | 1,49,057 |
| Borrowings | – | 1,65,545 | 1,51,916 | 1,48,312 | 1,21,671 |
| Cash & equivalents | – | 18,123 | 16,609 | 18,373 | 44,077 |
| Total assets | – | 4,46,633 | 4,44,531 | 5,14,360 | 5,52,152 |
| Fixed assets | – | 1,49,871 | 1,62,549 | 2,03,514 | 2,24,390 |
| Capital work in progress | – | 11,029 | 8,908 | 10,596 | 12,613 |
| Investments | – | 66 | 92 | 544 | 1,138 |
| Receivables | – | 3,982 | 4,728 | 7,456 | 7,978 |
| Inventory | – | 258 | 364 | 452 | 601 |
| Payables | – | 32,895 | 35,132 | 38,154 | 45,015 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 55,017 | 65,325 | 78,898 | 98,332 | 1,22,230 |
| Cash from investing | -41,870 | -39,080 | -50,204 | -60,270 | -58,534 |
| Cash from financing | -15,203 | -24,470 | -27,778 | -36,533 | -52,293 |
| Capex | 44,848 | 38,907 | 52,206 | 61,029 | 47,569 |
| Free cash flow | 10,168 | 26,418 | 26,692 | 37,304 | 74,661 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.8% | 9.1% | 29.5% | 17.9% |
| ROCE % | – | 14.4% | 13.9% | 21.5% | 24.5% |
| Debtor days | – | 10 | 12 | 16 | 14 |
| Inventory days | – | 1 | 1 | 1 | 1 |
| Payable days | – | 86 | 85 | 81 | 78 |
| Cash conversion cycle (days) | – | -75 | -72 | -64 | -63 |
| Working capital days | – | -169 | -196 | -238 | -146 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 50.07% |
| FIIs | 25.45% |
| DIIs | 21.74% |
| of which Mutual funds | 12.29% |
| of which Insurance | 6.78% |
| Government | 0.00% |
| Public (non-institutions) | 2.72% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.42% | 51.25% | 50.27% | 48.87% | 48.87% | 50.07% | 50.07% | 50.07% |
| Promoter group | % |
|---|---|
| Bharti Telecom Limited | 39.51% |
| Pastel Limited | 7.31% |
| Indian Continent Investment Limited | 3.25% |
| Bharti Enterprises (Holding) Private Limited | 0.00% |
| Viridian Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Lici Index Plus Flexi Smart Growth Fund | 4.46% |
| SBI Large CAP Fund | 2.60% |
| NPS Trust A/C - SBI PF NPS Jeevan Swarna Retiremen | 1.93% |
| ICICI Prudential Nifty ETF | 1.78% |
| HDFC Trustee Company Limited-hdfc Flexi CAP Fund | 1.42% |
| Google International LLC | 1.14% |
| UTI Multi CAP Fund | 1.06% |
| Government of Singapore - E | 1.04% |
9,39,404 shareholders. Pledged: 0.00% of promoter shares.
Peers in Telecom - Cellular & Fixed line services
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHARTIARTL | ₹11,18,941 cr | 39.1x | 7.5x | 22.0% | 25.9% | 55.1% | +14.9% | 1.02% |
| IDEA | ₹1,29,470 cr | 3.5x | – | – | 51.1% | 174.9% | +2.1% | – |
| BHARTIHEXA | ₹81,475 cr | 44.7x | 11.4x | 27.9% | 30.3% | 52.3% | – | 0.61% |
| TATACOMM | ₹47,929 cr | 43.4x | 14.1x | 35.3% | 15.3% | 19.1% | +11.6% | 1.49% |
| TTML | ₹8,119 cr | 27.1x | – | – | – | 110.4% | +1.6% | – |
| MTNL | ₹1,435 cr | – | – | – | -0.6% | -12.5% | +0.8% | – |
| RCOM | ₹221 cr | – | – | – | – | 40.3% | -13.1% | – |
| QUADRANT | ₹43 cr | 1.6x | – | – | – | 14.7% | -19.1% | – |
| CITYONLINE | ₹5 cr | 7.5x | – | – | – | -7.7% | -9.4% | – |
All 9 companies in Telecom - Cellular & Fixed line services →
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Mobile Services India | ₹1,12,995 cr | 48.1% | ₹35,766 cr | 31.7% |
| Mobile Services Africa | ₹56,806 cr | 24.2% | ₹18,794 cr | 33.1% |
| Passive Infrastructure Services | ₹32,694 cr | 13.9% | ₹11,227 cr | 34.3% |
| Airtel Business | ₹21,177 cr | 9.0% | ₹6,360 cr | 30.0% |
| Homes Services | ₹7,775 cr | 3.3% | ₹1,223 cr | 15.7% |
| Digital TV Services | ₹3,018 cr | 1.3% | ₹-206 cr | -6.8% |
| Others | ₹388 cr | 0.2% | ₹331 cr | 85.2% |
| Mobile Services South Asia | ₹0 cr | – | ₹0 cr | – |
| Unallocated | ₹0 cr | – | ₹-216 cr | – |
| Inter-segment eliminations | ₹0 cr | – | ₹-4,357 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-24 | Dividend | Dividend - Rs 24 Per Share |
| 2025-07-18 | Dividend | Dividend - Rs 16 Per Share |
| 2024-08-07 | Dividend | Dividend - Rs 8 Per Share |
| 2023-08-11 | Dividend | Dividend - Rs 4 Per Share |
| 2022-08-01 | Dividend | Dividend - Rs 3 Per Share |
| 2021-09-27 | Rights | Rights 1:14 @ Premium Rs 530/- |
| 2020-08-06 | Dividend | Dividend - Rs 2 Per Share |
| 2019-04-23 | Rights | Rights 19:67 @ Premium Rs 215 Per Share |
| 2018-11-05 | Dividend | Interim Dividend Rs - 2.50 Per Share |
| 2018-08-02 | Dividend | Annual General Meeting/Dividend Rs 2.50 Per Share |
| 2018-01-30 | Dividend | Interim Dividend - Rs 2.84 Per Share |
| 2017-07-13 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2016-08-11 | Dividend | Annual General Meeting/ Dividend - Rs 1.36/- Per Share |
| 2015-08-13 | Dividend | Dividend - Rs 2.22/- Per Share |
| 2014-08-21 | Dividend | Annual General Meeting / Final Dividend - Rs 1.80/- Per Share / Interim Dividend - Rs 1.63/- Per Share (Purpose Revised) |
| 2013-05-23 | Dividend | Annual General Meeting / Dividend Re 1 Per Share |
| 2012-08-16 | Dividend | Annual General Meeting / Dividend Rs 1 Per Share |
| 2011-08-17 | Dividend | Annual General Meeting And Dividend Re.1/- Per Share |
| 2010-08-18 | Dividend | Annual General Meeting And Dividend Re.1/- Per Share |
| 2009-07-24 | Other | Agm/Div-Rs.2/Fv Rs10tors5 |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Information and Communication: Wired, wireless or satellite Telecommunication activities
| Sector | Telecommunication |
| Industry | Telecom - Cellular & Fixed line services |
| Sub-industry | Telecom - Cellular & Fixed line services |
| Symbol | BHARTIARTL |
| BSE code | 532454 |
| ISIN | INE397D01024 |
| Face value | ₹5.0 |
| Incorporated | 1995-07-07 |
| Website | www.airtel.in |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.