Bharti Hexacom Ltd logo

Bharti Hexacom Ltd

BHARTIHEXA NSE

IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed- line telephone and broadband services in Rajasthan and Northeast telecom circles[1]

AI Verdict: HOLD Confidence: 6%

Bharti Hexacom delivers strong profit growth of 35% CAGR over 5 years and healthy ROE of 27%, but the stock trades at a stretched valuation of 41.5x PE and 10x book value. The 18% decline in stock price over the past year suggests the market is recalibrating expectations, warranting a hold until valuations become more reasonable.

Key Fundamentals

MidcapTelecom Service ProviderTelecom
Market Cap
₹74,295 Cr
Volatility
Moderate
P/E Ratio
42.63
EBITDA
₹4,857 Cr
Return on Equity
10.87%
Debt to Equity
1.46
Book Value
₹143.3
EPS
₹8.38
52W High
₹2,052.9
52W Low
₹1,431

Technical Indicators

Key Insights

Strengths

2
  • Company has delivered good profit growth of 35.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 41.7%

Weaknesses

1
  • Stock is trading at 10.2 times its book value

Growth Rate

Revenue Growth
7.15% ↗
Net Income Growth
15.46% ↗
Cash Flow Change
29.23% ↗
ROE
131.65% ↗
ROCE
40.70% ↗
EBITDA Margin (Avg.)
1.10% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

Bharti Hexacom delivers strong profit growth of 35% CAGR over 5 years and healthy ROE of 27%, but the stock trades at a stretched valuation of 41.5x PE and 10x book value. The 18% decline in stock price over the past year suggests the market is recalibrating expectations, warranting a hold until valuations become more reasonable.

Bull Case 8
  • Exceptional profit growth of 35% CAGR over 5 years and 47% CAGR over 3 years demonstrates strong earnings momentum
  • Return on equity of 27% in the last year indicates highly efficient capital deployment for a telecom operator
  • 3-year ROE average of 23% and 5-year average of 18% show consistent improvement in profitability trajectory
  • Healthy dividend payout ratio of 41.7% with 0.7% yield provides income visibility and signals management confidence in cash flows
  • Compounded sales growth of 15% over 5 years and 12% over 3 years reflects steady revenue expansion in a consolidating telecom market
  • TTM profit growth of 32% continues to outpace revenue growth of 9%, indicating operating leverage and margin expansion
  • Strong analyst consensus with 66.67% buy ratings (8 out of 12 analysts) supports positive fundamental outlook
  • Market cap of Rs 73,340 crore positions it as a mid-large cap with adequate liquidity and institutional interest
Bear Case 8
  • Stock trades at 10.03x price-to-book value, significantly above telecom sector averages, leaving limited margin of safety
  • PE ratio of 41.5x is expensive and prices in substantial future growth that may already be reflected in current valuations
  • Stock has declined 18% over the past 1 year, indicating sustained negative price momentum and possible de-rating
  • Revenue growth deceleration from 15% (5-year CAGR) to 9% (TTM) suggests slowing top-line momentum
  • 16.67% of analysts rate the stock a sell, indicating meaningful disagreement on valuation sustainability
  • Dividend yield of only 0.7% offers minimal income cushion against capital depreciation at current price levels
  • Operating in a capital-intensive telecom sector with ongoing 5G capex requirements that could pressure free cash flows
  • Limited operating history as a separately listed entity reduces long-term track record visibility for investors

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • HC quashes ₹473.7Cr DoT demand Jun 9

    Bombay HC set aside DoT's OTSC demand of ₹473.7 crore on June 8, 2026, removing a significant regulatory overhang for Bharti Hexacom.

Neutral 3
  • ₹22.74Cr block trade on NSE Jun 22

    A block trade of ~1.51 lakh shares was executed at ₹1,505.70 per share on NSE, worth ₹22.74 crore, indicating institutional-level interest.

  • Active investor conference participation May 26

    Bharti Hexacom scheduled attendance at Goldman Sachs Asia Corporate Day (Jun 9-10, London), BofA and Morgan Stanley conferences (Jun 1-2, Mumbai), signaling proactive institutional engagement.

  • Promoter confirms zero share encumbrance Jun 6

    Bharti Airtel confirmed no encumbrance of Bharti Hexacom shares during FY25-26 under SEBI Takeover Regulations, reflecting a clean promoter holding structure.

TL;DR: Bharti Hexacom had a constructive period with the Bombay HC quashing a ₹473.7 crore DoT demand, eliminating a material financial risk. The company is actively engaging institutional investors across multiple global conferences. No headwinds emerged in this cycle, and the trend is mildly positive with improved regulatory clarity and strong institutional interest.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,732
1,682
1,738
1,801
1,868
1,911
2,098
2,251
2,289
2,263
2,317
2,360
2,414
Expenses
962
852
913
973
990
1,035
1,096
1,099
1,121
1,102
1,109
1,105
1,146
Operating Profit
770
830
826
828
878
876
1,002
1,152
1,168
1,161
1,208
1,254
1,267
OPM %
44%
49%
48%
46%
47%
46%
48%
51%
51%
51%
52%
53%
52%
Other Income
44
80
-246
62
49
358
49
-61
48
48
61
28
53
Interest
149
154
156
169
166
162
175
180
171
154
151
147
149
Depreciation
395
414
432
433
460
496
536
532
531
527
554
567
565
PBT
270
342
-8
288
301
577
340
379
513
527
564
569
606
Tax %
25%
26%
2322%
26%
26%
11%
25%
31%
9%
26%
25%
17%
26%
Net Profit
202
253
-184
213
223
511
253
261
468
392
421
474
447
EPS in Rs
8.08
10.13
-7.36
4.25
4.45
10.22
5.06
5.22
9.37
7.83
8.42
9.47
8.93
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
3,614
3,874
4,602
5,405
6,579
7,089
8,548
9,354
Expenses
3,702
3,376
3,550
3,591
3,793
3,728
4,351
4,463
Operating Profit
-89
499
1,052
1,814
2,786
3,361
4,197
4,890
OPM %
-2%
13%
23%
34%
42%
47%
49%
52%
Other Income
222
-2,158
-240
2,040
140
-54
394
190
Interest
248
526
517
572
639
644
688
601
Depreciation
1,009
1,250
1,285
1,441
1,553
1,739
2,094
2,213
PBT
-1,123
-3,435
-989
1,841
734
923
1,809
2,266
Tax %
-36%
-21%
5%
9%
25%
45%
17%
24%
Net Profit
-722
-2,716
-1,034
1,675
549
504
1,494
1,733
EPS in Rs
-28.88
-109
-41.36
66.98
21.97
10.09
29.87
34.66
Div. Payout %
0%
0%
0%
0%
14%
40%
33%
52%
Figures in ₹ Crores

Balance Sheet

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
250
250
250
250
250
250
250
250
Reserves
5,518
2,770
1,736
3,410
3,960
4,389
5,682
6,915
Borrowings
2,941
5,191
7,774
9,068
9,204
8,105
7,353
6,137
Other Liabilities
2,632
7,224
5,244
3,945
4,840
5,774
5,966
5,748
Total Liabilities
11,341
15,435
15,004
16,674
18,253
18,517
19,251
19,051
Fixed Assets
9,226
9,874
10,304
10,234
11,174
13,615
14,733
14,038
CWIP
162
110
71
64
1,936
444
297
476
Investments
0
625
0
49
1,046
238
74
631
Other Assets
1,952
4,825
4,629
6,328
4,097
4,220
4,147
3,905
Total Assets
11,341
15,435
15,004
16,674
18,253
18,517
19,251
19,051
Figures in ₹ Crores

Cash Flow

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
493
-316
1,517
1,258
5,108
3,546
4,583
4,464
Investing
-1,166
-1,076
-882
-1,382
-2,031
-1,155
-2,341
-2,010
Financing
560
1,864
-604
183
-3,111
-2,404
-2,265
-2,438
Net Cash Flow
-114
473
30
59
-34
-13
-23
16
Free Cash Flow
-675
-777
64
-76
4,169
1,498
3,104
3,026
CFO/OP
-653
-59
147
70
184
106
125
106
Figures in ₹ Crores

Ratios

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
10
22
11
142
8
23
5
4
Cash Conversion Cycle
10
22
11
142
8
23
5
4
Working Capital Days
-135
-317
-438
-157
-243
-281
-215
-147
ROCE %
—
-9%
-1%
4%
10%
14%
17%
22%

Shareholding Pattern

As of Mar 2026
Promoters 70.00%
Others 15.15%
DIIs 10.60%
FIIs 3.69%
Public 0.56%
Total 100.00%
  Jan 2024Mar 2024Apr 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
70.00%
FIIs
0.00%
0.00%
0.00%
4.55%
5.06%
5.01%
4.33%
4.33%
3.94%
3.98%
3.69%
DIIs
0.00%
0.00%
0.00%
9.15%
8.89%
9.28%
9.96%
9.81%
10.24%
10.28%
10.60%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
0.00%
0.00%
1.06%
0.88%
0.59%
0.58%
0.69%
0.66%
0.59%
0.56%
Others
30.00%
30.00%
30.00%
15.24%
15.17%
15.12%
15.13%
15.17%
15.16%
15.15%
15.15%
No. of Shareholders
7
7
7
1,06,437
1,00,982
87,449
85,480
96,675
95,145
91,986
89,246

Documents

Frequently Asked Questions about Bharti Hexacom Ltd

What does Bharti Hexacom Ltd do?
IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed- line telephone and broadband services in Rajasthan and Northeast telecom circles[1]
Where is Bharti Hexacom Ltd (BHARTIHEXA) listed?
Bharti Hexacom Ltd is listed on the Indian stock exchanges. It is listed on NSE: BHARTIHEXA and BSE: 544162. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Bharti Hexacom Ltd belong to?
Bharti Hexacom Ltd operates in the Telecommunication sector within the Telecom - Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Bharti Hexacom Ltd?
Bharti Hexacom Ltd has a market capitalisation of approximately ₹74295.00 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Bharti Hexacom Ltd?
The Price-to-Earnings (PE) ratio of Bharti Hexacom Ltd is 42.63. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Bharti Hexacom Ltd?
Over the past 52 weeks, Bharti Hexacom Ltd has traded between a low of ₹1,431 and a high of ₹2,052.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Bharti Hexacom Ltd pay dividends?
Yes, Bharti Hexacom Ltd has a dividend yield of 0.68%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Bharti Hexacom Ltd?
Bharti Hexacom Ltd has a Return on Equity (ROE) of 10.87%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Bharti Hexacom Ltd on Tapetide?
On Tapetide, you can view Bharti Hexacom Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed- line telephone and broadband services in Rajasthan and Northeast telecom circles[1]

Website bhartihexacom.in
CEO Mr. Amit Chaturvedi
Employees 569
Listed 2024-04-12
Face Value ₹ 5
Issued Size 50,00,00,000

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