Vodafone Idea Ltd
IDEA NSE
Vodafone Idea Ltd
Telecom F&ONSE: IDEA BSE: 532822 Telecom Service Provider
Key Fundamentals
LargecapTelecom Service ProviderTelecomMarket Cap
1.4L Cr
Volatility
Moderate
P/E Ratio
3.99
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
₹6.12
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.59,292 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 1d agoAI opinion · based on fundamentals
Risk high
Vodafone Idea Ltd operates as India's third-largest telecom operator with a market cap of approximately ₹1,37,704 Cr, carrying a massive net debt of ₹1,873 billion (as of March 2025) against a negative net worth of ₹703.2 billion. The company raised ₹614 billion in equity during FY25 and showed ARPU improvement to ₹175 in Q4 FY25, but continues to report annual net losses of ₹27,383 Cr for FY25 with a debt-to-EBITDA ratio of approximately 20x.
Bull Case 8
- ARPU grew 14.2% YoY in FY25 reaching ₹175, with further improvement to ₹190 in Q4 FY26 (8.3% YoY growth), indicating pricing power from tariff hikes
- Raised ₹614 billion in equity during FY25 through FPO, preferential allotments, and government conversion, significantly strengthening the balance sheet funding position
- 4G/5G subscriber base rose to 128.9 million in Q4 FY26 from 126.4 million in Q4 FY25, with 4G/5G mix improving to 66.9% from 63.8%
- Stock has delivered 85% return over 1 year and 16% CAGR over 3 years, reflecting improving market sentiment
- Government of India holds 49% stake post equity conversion, providing implicit strategic support and reducing immediate AGR payment burden
- Revenue grew to ₹435.7 billion in FY25 (2.2% growth), with quarterly losses narrowing — net loss reached its lowest in 19 quarters by Q2 FY26
- TTM profit growth of 13% and 3-year compounded profit growth of 6% indicate a trend toward reducing losses
- Subscriber base stabilized at 192.8 million with the company maintaining the highest ARPU in the industry as of Q4 FY26
Bear Case 8
- Negative net worth of ₹703.2 billion as of March 2025 and net debt of ₹1,873 billion with a net debt-to-EBITDA ratio of approximately 20x, indicating extreme leverage
- Compounded sales growth of only 1.36% over 5 years, far below peers Jio and Airtel, reflecting persistent subscriber and revenue share losses
- Promoter holding decreased by 24.7% over the last 3 years due to dilution from equity raises and government conversion, diluting existing shareholders significantly
- Low interest coverage ratio making the company vulnerable to any increase in interest rates or inability to refinance maturing debt
- Earnings include an exceptional other income of ₹59,148 Cr, meaning reported profitability is not driven by operational improvement
- Price-to-book ratio of -3.83 reflects deeply negative book value, meaning equity holders have no asset backing
- 10-year stock CAGR of -15% demonstrates long-term value destruction for shareholders despite recent rally
- Zero dividend yield with no visibility on when dividends could be paid given the massive accumulated losses and debt obligations
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 2
- ₹26.83 Cr DoT rollout penalty Aug 1
DoT issued notice demanding ₹26.83 crore in liquidated damages for alleged default in network rollout obligations. The company is reviewing the notice.
- TRAI porting violation fine Jul 30
TRAI imposed a ₹6.30 lakh financial disincentive on Jul 30 for violating Mobile Number Portability Regulations. Vi is evaluating next steps.
Positives 3
- ₹45,000 Cr capex by FY29 Aug 7
Vodafone Idea committed ₹45,000 crore in network investments by FY29 to strengthen infrastructure and accelerate 5G deployment, citing steady subscriber growth.
- AGR liability revision improves clarity Aug 7
Revision in AGR liabilities has reduced a longstanding balance sheet uncertainty, providing improved financial visibility for the company.
- Subscriber base growing per TRAI Jul 28
TRAI reported new subscriber additions for Vodafone Idea, signalling continued user base expansion in a competitive Indian telecom market.
Neutral 3
- Q1FY27 earnings call Aug 11 Aug 6
Vi will hold its Q1FY27 analyst call on August 11, 2026 at 2:30 PM IST featuring CEO Abhijit Kishore and CFO Tejas Mehta.
- FY26 BRSR report filed Aug 4
Vi submitted its FY26 Business Responsibility and Sustainability Report detailing ESG governance upgrades, renewable energy sourcing, and workforce safety metrics.
- AGM scheduled for Aug 27 Jul 30
The 31st AGM is set for August 27, 2026 via video conference. Register of members closed August 20-27, 2026.
TL;DR: Vodafone Idea is showing operational momentum with steady subscriber additions and a clear ₹45,000 crore capex roadmap through FY29, while the AGR liability revision removes a key overhang. Regulatory risks persist with a ₹26.83 crore DoT penalty notice and minor TRAI fines, though these are manageable relative to overall scale. The trend is cautiously improving as execution on 5G rollout and the upcoming Q1FY27 results on Aug 11 will be critical to sustaining sentiment.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 10,532 | 10,656 | 10,716 | 10,673 | 10,607 | 10,508 | 10,932 | 11,117 | 11,015 | 11,022 | 11,195 | 11,323 | 11,332 |
| Expenses | 6,322 | 6,499 | 6,435 | 6,324 | 6,274 | 6,304 | 6,383 | 6,405 | 6,356 | 6,410 | 6,511 | 6,506 | 6,443 |
| Operating Profit | 4,210 | 4,156 | 4,282 | 4,349 | 4,333 | 4,205 | 4,550 | 4,712 | 4,659 | 4,612 | 4,684 | 4,817 | 4,889 |
| OPM % | 40% | 39% | 40% | 41% | 41% | 40% | 42% | 42% | 42% | 42% | 42% | 43% | 43% |
| Other Income | 71 | 21 | 34 | 780 | 32 | 256 | 300 | 250 | 216 | 142 | 140 | 1,271 | 57,595 |
| Interest | 5,002 | 6,398 | 6,569 | 6,518 | 6,280 | 5,519 | 6,614 | 5,940 | 6,471 | 5,893 | 4,784 | 5,828 | 4,990 |
| Depreciation | 5,704 | 5,616 | 5,667 | 5,598 | 5,751 | 5,369 | 5,404 | 5,629 | 5,571 | 5,472 | 5,567 | 5,550 | 5,518 |
| PBT | -6,424 | -7,837 | -7,920 | -6,987 | -7,666 | -6,427 | -7,168 | -6,607 | -7,167 | -6,611 | -5,527 | -5,290 | 51,976 |
| Tax % | 0% | 0% | 10% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -6,419 | -7,840 | -8,738 | -6,986 | -7,675 | -6,432 | -7,176 | -6,609 | -7,167 | -6,608 | -5,524 | -5,286 | 51,970 |
| EPS in Rs | -1.32 | -1.61 | -1.79 | -1.44 | -1.53 | -0.95 | -1.03 | -0.95 | -1 | -0.61 | -0.51 | -0.49 | 4.8 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
| OPM % | 34% | 32% | 29% | 21% | 11% | 33% | 40% | 41% | 40% | 40% | 41% | 42% |
| Other Income | 497 | 641 | 746 | 703 | 1,789 | -36,964 | -19,563 | 363 | 354 | 917 | 1,100 | 59,292 |
| 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 |
| 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 |
| PBT | 4,933 | 4,250 | -863 | -6,499 | -18,175 | -61,797 | -44,253 | -28,234 | -29,298 | -30,410 | -27,368 | 34,548 |
| 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 |
| 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 |
| 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 ₹137704.00 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 3.99. 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 ₹6.12 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