Vodafone Idea Ltd
IDEA NSE
Vodafone Idea Ltd
Telecom F&ONSE: IDEA BSE: 532822 Telecom Service Provider
Key Fundamentals
LargecapTelecom Service ProviderTelecomMarket Cap
1.5L Cr
Volatility
Moderate
P/E Ratio
4.1
EBITDA
₹19,544 Cr
Return on Equity
-96.63%
Debt to Equity
0
Book Value
₹-3.3
EPS
₹0
52W High
₹15.34
52W Low
₹6.18
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Vodafone Idea Ltd insights
39 extracted metrics + investor summaries across FY12–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
4- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 1.36% over past five years.
- Earnings include an other income of Rs.60,812 Cr.
- Promoter holding has decreased over last 3 years: -24.7%
Growth Rate
Revenue Growth
1.84% ↗
Net Income Growth
-226.18% ↘
Cash Flow Change
108.95% ↗
ROE
-348.15% ↘
ROCE
-1953.27% ↘
EBITDA Margin (Avg.)
0.23% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk high
Vodafone Idea is India's third-largest telecom operator with ~193 million subscribers and a market cap of ~₹1.49 lakh crore. The company continues to report net losses (₹3,754 crore in Q1FY27) despite improving ARPU of ₹195, and carries massive government dues including ~₹66,149 crore in AGR liabilities and ~₹1.22 lakh crore in spectrum dues, while revenue grew 6% YoY to ₹11,689 crore in Q1FY27.
Bull Case 8
- ARPU grew 10.2% YoY to ₹195 in Q1FY27, marking 20 consecutive quarters of ARPU growth driven by 4G/5G migration
- First quarter of positive net subscriber additions since the 2018 merger, with base rising to 193.1 million from 192.8 million sequentially
- 4G/5G subscriber penetration reached 67.4% of total base (130.1 million users), up from 64.4% a year ago, improving revenue quality
- Government reduced frozen AGR dues by 27% from ₹87,695 crore to ₹64,046 crore and allowed staggered payments, easing near-term cash flow pressure
- Q1FY27 revenue grew 6% YoY to ₹11,689 crore, with net loss narrowing 43% from ₹6,611 crore to ₹3,754 crore YoY
- Stock has delivered 120% CAGR over the past 1 year and 19% CAGR over 3 years, reflecting improving market sentiment
- Bank debt remains minimal at ₹211 crore with cash and bank balances of ₹6,558 crore as of June 2026, providing near-term liquidity
- Data usage surged 27.9% YoY to 88.4 PB per day in Q1FY27, indicating strong engagement on existing network
Bear Case 8
- Total government dues remain enormous at ₹66,149 crore in AGR plus ~₹1.22 lakh crore in spectrum dues, with payments of ~₹7,000 crore due in FY27 and ~₹15,000 crore in FY28
- Company continues to report net losses — ₹3,754 crore in Q1FY27 — and has never been profitable since the 2018 merger
- Interest coverage ratio is low, reflecting inadequate operating earnings relative to debt servicing obligations
- Compounded sales growth of only 1.36% over the past 5 years indicates structural inability to grow the topline meaningfully
- Promoter holding has decreased by 24.7% over the last 3 years, signalling dilution and weakening promoter commitment
- Subscriber base of 193 million is distant third behind Jio (493 million) and Airtel (473 million), limiting pricing power and scale advantages
- Earnings include other income of ₹60,812 crore, indicating reported profit figures are inflated by non-operational or one-time items
- Negative price-to-book ratio of -4.11 and unavailable ROE/ROCE metrics suggest negative net worth and fundamental balance sheet weakness
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 18h ago Headwinds 2
- DoT penalty of ₹26.83 Cr Aug 1
Department of Telecommunications issued notice for alleged default in rollout obligations, demanding liquidated damages of ₹26.83 crore. Company is reviewing the notice.
- TRAI fine for porting lapses Jul 30
TRAI imposed ₹6.30 lakh financial disincentive on Jul 30 for violating Mobile Number Portability Regulations. Vodafone Idea is evaluating next steps.
Positives 3
- Q1 net loss narrows sharply Aug 10
Consolidated net loss narrowed to ₹37.54B from ₹66B YoY in Q1FY26. Revenue grew to ₹116.6B and EBITDA margin expanded to 43.17% from 41.84%.
- ₹45,000 Cr capex plan by FY29 Aug 7
Company committed ₹45,000 crore in network investments by FY29 for infrastructure strengthening and 5G deployment. AGR liability revision has reduced balance sheet uncertainty.
- Subscriber base growing per TRAI Jul 28
TRAI data confirms new subscriber additions for Vodafone Idea, signaling user base growth amid competitive telecom market.
Neutral 3
- Q1FY26 earnings call hosted Aug 11
Analyst and investor call held Aug 11 at 2:30 PM IST featuring CEO Abhijit Kishore and CFO Tejas Mehta. Audio recording made available on official website.
- AGM scheduled for Aug 27 Jul 30
31st Annual General Meeting set for Aug 27, 2026 via video conference. Register of members closed Aug 20-27.
- FY26 BRSR report filed Aug 4
Submitted Business Responsibility and Sustainability Report for FY26 detailing ESG governance upgrades, renewable energy sourcing, and workforce safety metrics.
TL;DR: Vodafone Idea showed meaningful financial improvement in Q1FY26 with net loss nearly halving YoY and EBITDA margins expanding to 43.17%. The ₹45,000 crore capex commitment and AGR liability clarity are structurally positive. Regulatory penalties from DoT and TRAI are minor in quantum but highlight compliance risks. The trend is improving on fundamentals, though execution on 5G rollout and subscriber monetization remains key to watch.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10,656 | 10,716 | 10,673 | 10,607 | 10,508 | 10,932 | 11,117 | 11,015 | 11,022 | 11,195 | 11,323 | 11,332 | 11,689 |
| Expenses | 6,499 | 6,435 | 6,324 | 6,274 | 6,304 | 6,383 | 6,405 | 6,356 | 6,410 | 6,511 | 6,506 | 6,443 | 6,655 |
| Operating Profit | 4,156 | 4,282 | 4,349 | 4,333 | 4,205 | 4,550 | 4,712 | 4,659 | 4,612 | 4,684 | 4,817 | 4,889 | 5,034 |
| OPM % | 39% | 40% | 41% | 41% | 40% | 42% | 42% | 42% | 42% | 42% | 43% | 43% | 43% |
| Other Income | 21 | 34 | 780 | 32 | 256 | 300 | 250 | 216 | 142 | 140 | 1,271 | 57,595 | 1,806 |
| Interest | 6,398 | 6,569 | 6,518 | 6,280 | 5,519 | 6,614 | 5,940 | 6,471 | 5,893 | 4,784 | 5,828 | 4,990 | 5,120 |
| Depreciation | 5,616 | 5,667 | 5,598 | 5,751 | 5,369 | 5,404 | 5,629 | 5,571 | 5,472 | 5,567 | 5,550 | 5,518 | 5,467 |
| PBT | -7,837 | -7,920 | -6,987 | -7,666 | -6,427 | -7,168 | -6,607 | -7,167 | -6,611 | -5,527 | -5,290 | 51,976 | -3,747 |
| Tax % | 0% | 10% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -7,840 | -8,738 | -6,986 | -7,675 | -6,432 | -7,176 | -6,609 | -7,167 | -6,608 | -5,524 | -5,286 | 51,970 | -3,754 |
| EPS in Rs | -1.61 | -1.79 | -1.44 | -1.53 | -0.95 | -1.03 | -0.95 | -1 | -0.61 | -0.51 | -0.49 | 4.8 | -0.35 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 31,571 | 35,949 | 35,576 | 28,279 | 37,092 | 44,958 | 41,952 | 38,516 | 42,177 | 42,652 | 43,572 | 44,873 | 45,539 |
| Expenses | 20,771 | 24,281 | 25,348 | 22,224 | 32,976 | 30,042 | 25,006 | 22,547 | 25,424 | 25,580 | 25,524 | 26,014 | 26,115 |
| Operating Profit | 10,800 | 11,668 | 10,227 | 6,054 | 4,116 | 14,916 | 16,946 | 15,968 | 16,753 | 17,072 | 18,048 | 18,859 | 19,424 |
| OPM % | 34% | 32% | 29% | 21% | 11% | 33% | 40% | 41% | 40% | 40% | 41% | 42% | 43% |
| Other Income | 497 | 641 | 746 | 703 | 1,789 | -36,964 | -19,563 | 363 | 354 | 917 | 1,100 | 59,292 | 60,812 |
| Interest | 1,060 | 1,803 | 4,010 | 4,847 | 9,545 | 15,393 | 17,998 | 20,981 | 23,354 | 25,766 | 24,543 | 21,495 | 20,722 |
| Depreciation | 5,304 | 6,256 | 7,827 | 8,409 | 14,536 | 24,356 | 23,638 | 23,584 | 23,050 | 22,634 | 21,973 | 22,108 | 22,102 |
| PBT | 4,933 | 4,250 | -863 | -6,499 | -18,175 | -61,797 | -44,253 | -28,234 | -29,298 | -30,410 | -27,368 | 34,548 | 37,412 |
| Tax % | 35% | 36% | -54% | -36% | -20% | 20% | 0% | 0% | 0% | 3% | 0% | 0% | — |
| Net Profit | 3,193 | 2,728 | -400 | -4,168 | -14,604 | -73,878 | -44,233 | -28,245 | -29,301 | -31,238 | -27,384 | 34,552 | 37,406 |
| EPS in Rs | 2.7 | 2.3 | -0.34 | -2.91 | -5.08 | -25.71 | -15.39 | -8.79 | -6.02 | -6.23 | -3.84 | 3.19 | 3.45 |
| Div. Payout % | 7% | 8% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3,598 | 3,601 | 3,605 | 4,359 | 8,736 | 28,735 | 28,735 | 32,119 | 48,680 | 50,120 | 71,393 | 1,08,343 |
| Reserves | 19,429 | 19,950 | 21,127 | 22,903 | 50,899 | -22,756 | -66,963 | -94,084 | -1,23,039 | -1,54,287 | -1,41,713 | -1,44,101 |
| Borrowings | 26,859 | 40,541 | 55,055 | 57,985 | 1,25,940 | 1,14,996 | 2,01,720 | 2,13,761 | 2,37,766 | 2,43,809 | 2,33,229 | 1,92,528 |
| Other Liabilities | 10,580 | 16,034 | 16,881 | 13,264 | 44,078 | 1,05,942 | 39,986 | 42,233 | 43,836 | 45,355 | 34,946 | 34,860 |
| Total Liabilities | 60,467 | 80,126 | 96,668 | 98,511 | 2,29,652 | 2,26,918 | 2,03,478 | 1,94,029 | 2,07,243 | 1,84,997 | 1,97,855 | 1,91,630 |
| Fixed Assets | 35,540 | 65,190 | 76,763 | 79,692 | 1,77,800 | 1,85,836 | 1,67,490 | 1,56,819 | 1,56,255 | 1,40,125 | 1,41,320 | 1,43,086 |
| CWIP | 5,141 | 6,040 | 7,535 | 3,585 | 5,103 | 1,138 | 606 | 364 | 17,876 | 18,189 | 18,213 | 15,274 |
| Investments | 11,527 | 3,471 | 6,378 | 7,290 | 8,239 | 1,979 | 4 | 5 | 6 | 0 | 0 | 107 |
| Other Assets | 8,260 | 5,425 | 5,991 | 7,944 | 38,511 | 37,964 | 35,378 | 36,841 | 33,105 | 26,683 | 38,322 | 33,163 |
| Total Assets | 60,467 | 80,126 | 96,668 | 98,511 | 2,29,652 | 2,26,918 | 2,03,478 | 1,94,029 | 2,07,243 | 1,84,997 | 1,97,855 | 1,91,630 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 10,418 | 10,949 | 10,476 | 5,332 | 5,348 | 7,328 | 15,640 | 17,387 | 18,869 | 20,826 | 9,290 | 19,411 |
| Investing | -5,726 | -2,389 | -15,556 | -9,303 | -1,640 | -2,698 | 1,075 | -5,730 | -5,414 | -1,907 | -16,248 | -6,104 |
| Financing | 8,028 | -9,330 | 4,506 | 3,925 | -2,949 | -5,019 | -16,731 | -10,554 | -14,680 | -18,980 | 7,047 | -11,458 |
| Net Cash Flow | 12,720 | -770 | -574 | -46 | 758 | -389 | -17 | 1,103 | -1,224 | -61 | 89 | 1,849 |
| Free Cash Flow | 6,260 | 3,824 | 5,144 | -3,269 | -2,238 | -474 | 10,534 | 11,395 | 13,332 | 19,296 | -930 | 8,597 |
| CFO/OP | 107 | 101 | 109 | 95 | 123 | 33 | 88 | 100 | 105 | 105 | 49 | 101 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 12 | 13 | 11 | 32 | 25 | 22 | 23 | 19 | 19 | 17 | 16 |
| Cash Conversion Cycle | 11 | 12 | 13 | 11 | 32 | 25 | 22 | 23 | 19 | 19 | 17 | 16 |
| Working Capital Days | -174 | -134 | -148 | -92 | -430 | -667 | -474 | -453 | -407 | -358 | -294 | -192 |
| ROCE % | 14% | 11% | 4% | -2% | -8% | -5% | -4% | -5% | -4% | -4% | -2% | -2% |
Documents
1
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
15h - CARE monitoring report for Q4FY26 confirms full FPO proceeds utilization with no deviations. 15h - CARE monitoring report for Q4FY26 confirms full FPO proceeds utilization with no deviations.
2
Clarification sought from Vodafone Idea Ltd
11 May - Exchange has sought clarification from Vodafone Idea Ltd on May 11, 2026, with reference to news appeared in https://www.businesstoday.in dated May 11, 2026, quoting "Why … 11 May - Exchange has sought clarification from Vodafone Idea Ltd on May 11, 2026, with reference to news appeared in https://www.businesstoday.in dated May 11, 2026, quoting "Why …
3
Rumour verification - Regulation 30(11)
8h - Clarifies no communication from Vodafone Group on treasury stock transfer; references December 2025 CLAM agreement. 8h - Clarifies no communication from Vodafone Group on treasury stock transfer; references December 2025 CLAM agreement.
4
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations') - Update On AGR Matter
30 Apr - DoT finalizes Vodafone Idea AGR dues at Rs. 64,046 crore, payable from FY2031-32 to FY2040-41. 30 Apr - DoT finalizes Vodafone Idea AGR dues at Rs. 64,046 crore, payable from FY2031-32 to FY2040-41.
5
Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Change In Chairperson
5 May - Ravinder Takkar steps down; Kumar Mangalam Birla appointed Chairman, effective 5 May 2026. 5 May - Ravinder Takkar steps down; Kumar Mangalam Birla appointed Chairman, effective 5 May 2026.
Frequently Asked Questions about Vodafone Idea Ltd
What does Vodafone Idea Ltd do?
Vodafone Idea is one of the leading telecom service providers in India. The Company is engaged in the business of Mobility and Long Distance services, trading of handsets and data cards.[1]
Where is Vodafone Idea Ltd (IDEA) listed?
Vodafone Idea Ltd is listed on the Indian stock exchanges. It is listed on NSE: IDEA and BSE: 532822. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vodafone Idea Ltd belong to?
Vodafone Idea Ltd operates in the Telecom sector within the Telecom Service Provider industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vodafone Idea Ltd?
Vodafone Idea Ltd has a market capitalisation of approximately ₹149188.36 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Vodafone Idea Ltd?
The Price-to-Earnings (PE) ratio of Vodafone Idea Ltd is 4.10. 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 Vodafone Idea Ltd?
Over the past 52 weeks, Vodafone Idea Ltd has traded between a low of ₹6.18 and a high of ₹15.34. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Vodafone Idea Ltd?
Vodafone Idea Ltd has a Return on Equity (ROE) of -96.63%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Vodafone Idea Ltd on Tapetide?
On Tapetide, you can view Vodafone Idea 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
Vodafone Idea is one of the leading telecom service providers in India. The Company is engaged in the business of Mobility and Long Distance services, trading of handsets and data cards.[1]
Website myvi.in
CEO Mr. Abhijit Kishore
Employees 9,985
Listed 2007-03-09
Face Value ₹ 10
Issued Size 1,08,34,30,35,001