BHARTIARTL.NS — Bharti Airtel Limited ₹1,950.20

COMMUNICATION · Generated 2026-07-29 21:15
USAIND

Price graph

Quality Scorecard Growth

C67/100
✅ Pricing power (gross margin) 68% Gross margin 68% — wide margins, likely pricing power
🟡 Return on equity 19% ROE 19% — decent returns
✅ Leverage (net debt / EBITDA) 1.5x Net debt / EBITDA 1.5x — low leverage
❌ Interest coverage 4x EBIT covers interest 4x — thin coverage
✅ Earnings consistency (revenue) 0/3 down 0 revenue-down year(s) in 3 — no down years
❌ Earnings growth (net income YoY) -20% Net income -20% YoY — earnings declining
✅ Cash conversion (CFO/NI) 458% Operating cash ÷ net income 458% — earnings convert to cash
✅ Operating margin trend improving Operating margin improving
🟡 Revenue growth 16% Revenue +16% — moderate growth
✅ Growth trajectory accelerating YoY +22% vs +12% prior 2-yr avg — accelerating
❌ Dilution control +4.4%/yr Shares +4.4% YoY — heavy dilution (stock-based comp)
✅ Rule of 40 51 growth 16% + FCF margin 36% = 51 — healthy growth + profitability

Growth-stage checklist (proxy metrics from yfinance). 12 of 12 criteria scored. Not financial advice.

Buy-Now Score

73/100
Quality ×40%67
Trajectory ×30%86
Valuation ×30%68

Comparative rank: 40% Quality + 30% Trajectory + 30% Valuation — higher = better buy now. Not financial advice.

Valuation

₹1,755.18₹4,191.86
Price ₹1,950.20DCF ₹3,810.78 (+95%)Analyst ₹2,291.94 (+18%)MarketGist fair ₹2,595.71 (+33%)

DCF: 19% start growth → 2.5%, 7.0% discount (band ₹2,865.58–₹4,811.15). Analyst: 33 analysts. MarketGist fair = 80% analyst + 20% DCF. Not financial advice.

Key Trends (6-yr)

GAAP EPS
▼ -20.8% YoY
Sales
▲ +22.0% YoY
Shares Outstanding
▲ +0.4% YoY

Company Overview

Basic Information

Company Name: Bharti Airtel Limited
Symbol: BHARTIARTL.NS
Exchange: NSI
Sector: Communication Services
Industry: Telecom Services

Company Details

Country: India
City: Gurugram
Employees: 13,336
Market Cap: ₹12.17T
Website: https://www.airtel.in

Business Description

Bharti Airtel Limited operates as a telecommunications company in India and internationally. It operates through the Mobile Services India, Mobile Services Africa, Mobile Services South Asia, Airtel Business, Passive Tower Infrastructure Services, Homes Services, Digital TV Services, and Others segments. The company provides voice and data telecom services through wireless technology including 2G/3G/4G/5G services; passive infrastructure service, including the setup, operation, and maintenance of wireless communication towers; mobile money services; home services covering voice and data communications through fixed-line network, wireless network, and broadband technology for homes; and digital TV services comprising digital broadcasting services under the DTH platform and IPTV services. It also engages in the airtel business that includes MPLS, VoIP, SIP trunking, fixed line voice solutions, communications platform as a service (CPaaS), internet of things (IoT), managed services, enterprise mobility applications, cloud, and cybersecurity, data and voice, network integration, managed services, security, and platform services. In addition, the company offers post-paid, prepaid, roaming, data services, OTT content, and various value-added services, as well as mobile TV, video calls, live-streaming videos, gaming, and high-definition (HD) and 4K content services. The company was formerly known as Bharti Tele-Ventures Limited and changed its name to Bharti Airtel Limited in April 2006. Bharti Airtel Limited was incorporated in 1995 and is headquartered in Gurugram, India.

Key Metrics

Price & Valuation

Current Price
₹1.95K
Market Cap
₹12.17T
P/E Ratio
44.01
Forward P/E
23.83
PEG Ratio
N/A
Price to Book
7.97

Profitability

Profit Margin: 12.65%
Operating Margin: 32.77%
Gross Margin: 67.65%
Return on Equity (ROE): 19.36%
Return on Assets (ROA): 7.88%
Revenue Growth: 15.70%

Financial Health

Current Ratio: 0.52
Quick Ratio: 0.28
Debt to Equity: 99.72
Total Debt: ₹1.95T
Total Cash: ₹307.22B
Beta: 0.02

Trading & Analyst Info

52-Week Range

52-Week High: ₹2.17K
52-Week Low: ₹1.74K
50-Day Average: ₹1.87K
200-Day Average: ₹1.95K

Analyst Recommendations

Recommendation: STRONG_BUY
Target Mean Price: ₹2.29K
Target High: ₹2.75K
Target Low: ₹1.80K

Quarterly Verdict

🟢 87/100

Worth buying

Quality grade C; 5 improving / 1 weakening metrics YoY.

➕ Pricing power (gross margin): Gross margin 68% — wide margins, likely pricing power
➕ Leverage (net debt / EBITDA): Net debt / EBITDA 1.5x — low leverage
➖ Interest coverage: EBIT covers interest 4x — thin coverage
➕ Earnings consistency (revenue): 0 revenue-down year(s) in 3 — no down years
➖ Earnings growth (net income YoY): Net income -20% YoY — earnings declining
➕ Cash conversion (CFO/NI): Operating cash ÷ net income 458% — earnings convert to cash
➕ Operating margin trend: Operating margin improving
➕ Growth trajectory: YoY +22% vs +12% prior 2-yr avg — accelerating
➖ Dilution control: Shares +4.4% YoY — heavy dilution (stock-based comp)
➕ Rule of 40: growth 16% + FCF margin 36% = 51 — healthy growth + profitability
➕ Revenue +15.7% YoY
➖ Net income -33.5% YoY
➕ Operating margin +1.6 pts YoY
➕ Free cash flow +76.5% YoY
➕ Cash +124.7% YoY
➕ Debt -8.5% YoY

Heuristic from the Quality Scorecard + quarter-over-quarter trends. Not financial advice.

Financial Statements

Income Statement (Annual)

Item2026-03-312025-03-312024-03-312023-03-312022-03-31
Tax Effect Of Unusual Items₹-7.38B₹1.72B₹-28.45B₹-2.23BN/A
Tax Rate For Calcs₹0.25₹0.02₹0.33₹0.26N/A
Normalized EBITDA₹1.19T₹944.02B₹769.25B₹681.52BN/A
Total Unusual Items₹-29.37B₹71.81B₹-87.53B₹-8.64BN/A
Total Unusual Items Excluding Goodwill₹-29.37B₹71.81B₹-87.53B₹-8.64BN/A
Net Income From Continuing Operation Net Minority Interest₹266.95B₹335.56B₹74.67B₹83.46BN/A
Reconciled Depreciation₹527.11B₹455.70B₹395.38B₹364.32BN/A
Reconciled Cost Of Revenue₹641.53B₹568.34B₹535.52B₹512.73BN/A
EBITDA₹1.16T₹1.02T₹681.73B₹672.88BN/A
EBIT₹630.15B₹560.13B₹286.35B₹308.56BN/A
Net Interest Income₹-216.87B₹-205.32B₹-183.09B₹-165.43BN/A
Interest Expense₹178.43B₹176.14B₹159.56B₹142.96BN/A
Interest Income₹11.16B₹5.31B₹6.49B₹3.08BN/A
Normalized Income₹288.94B₹265.46B₹133.75B₹89.87BN/A
Net Income From Continuing And Discontinued Operation₹266.95B₹335.56B₹74.67B₹83.46BN/A

Showing 15 of 54 rows

Balance Sheet (Annual)

Item2026-03-312025-03-312024-03-312023-03-312022-03-31
Treasury Shares Number₹2.50M₹4.34M₹3.12M₹2.92MN/A
Ordinary Shares Number₹6.09B₹6.09B₹6.04B₹5.96BN/A
Share Issued₹6.09B₹6.09B₹6.05B₹5.97BN/A
Net Debt₹1.08T₹1.42T₹1.45T₹1.58TN/A
Total Debt₹1.95T₹2.14T₹2.16T₹2.26TN/A
Tangible Book Value₹-332.15B₹-716.85B₹-667.32B₹-883.56BN/A
Invested Capital₹2.71T₹2.62T₹2.34T₹2.43TN/A
Working Capital₹-842.90B₹-1.13T₹-803.92B₹-644.62BN/A
Net Tangible Assets₹-332.15B₹-716.85B₹-667.32B₹-883.56BN/A
Capital Lease Obligations₹737.40B₹653.30B₹636.76B₹604.75BN/A
Common Stock Equity₹1.49T₹1.14T₹820.19B₹775.63BN/A
Total Capitalization₹2.49T₹2.19T₹2.13T₹2.29TN/A
Total Equity Gross Minority Interest₹1.96T₹1.53T₹1.06T₹1.06TN/A
Minority Interest₹469.07B₹397.96B₹235.45B₹288.81BN/A
Stockholders Equity₹1.49T₹1.14T₹820.19B₹775.63BN/A

Showing 15 of 88 rows

Cash Flow Statement (Annual)

Item2026-03-312025-03-312024-03-312023-03-312022-03-31
Free Cash Flow₹755.15B₹586.52B₹388.47B₹387.86BN/A
Repurchase Of Capital Stock₹-1.47B₹-3.67B₹-1.37B₹-499.00MN/A
Repayment Of Debt₹-464.86B₹-178.59B₹-100.80B₹-178.23BN/A
Issuance Of Debt₹140.13B₹272.52B₹82.64B₹136.08BN/A
Issuance Of Capital Stock₹156.97B₹14.00M₹6.00M₹52.24BN/A
Capital Expenditure₹-467.14B₹-396.80B₹-400.51B₹-265.38BN/A
End Cash Position₹243.85B₹106.53B₹90.52B₹90.21BN/A
Beginning Cash Position₹106.53B₹90.52B₹90.21B₹73.99BN/A
Effect Of Exchange Rate Changes₹23.29B₹718.00M₹-8.85B₹-1.52BN/A
Changes In Cash₹114.03B₹15.29B₹9.16B₹17.75BN/A
Financing Cash Flow₹-522.93B₹-365.33B₹-277.79B₹-244.69BN/A
Net Other Financing Charges₹-24.35B₹-139.24B₹2.40B₹-4.54BN/A
Interest Paid Cff₹-148.88B₹-175.48B₹-140.26B₹-66.89BN/A
Cash Dividends Paid₹-113.28B₹-69.35B₹-41.84B₹-35.90BN/A
Common Stock Dividend PaidN/AN/A₹-41.84B₹-35.90B₹-14.44B

Showing 15 of 61 rows

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