Bharti Airtel Q1 FY27 Share Price & Earnings Call Analysis

Financials of Bharti Airtel

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Bharti Airtel

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +36,00937,44037,04437,90037,59938,50641,47345,12947,87649,46352,14553,98255,383
Expenses +17,31217,84217,53018,08518,23418,79919,62720,53320,86721,62422,58423,19923,892
Operating Profit18,69719,59819,51419,81519,36519,70821,84624,59727,00927,83929,56130,78331,492
OPM %52%52%53%52%52%51%53%54%56%56%57%57%57%
Other Income +886-2,478-6541,013-1,3082,0104759,675403592809562-2,198
Interest5,1635,6145,1866,6455,2035,1525,4245,6765,5025,4614,8665,6235,606
Depreciation9,4069,6549,73410,07410,07510,54011,00011,70412,32612,46513,18213,42013,644
Profit before tax5,0141,8533,9404,1082,7786,0255,89716,8929,58410,50412,32212,30110,045
Tax %16%18%47%30%26%22%30%4%-30%29%30%31%8%
Net Profit +4,2261,5202,0932,8762,0684,7184,15316,13512,4767,4228,6518,5039,247
EPS in Rs5.392.892.394.343.667.316.3125.9519.3310.4311.9111.6312.02

Financials of Bharti Airtel

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +96,10196,53295,46882,63980,78087,539100,616116,547139,145149,982172,985210,973
Expenses +62,49962,54860,13852,56055,01650,93055,33759,01367,87172,09087,92591,298
Operating Profit33,60233,98435,33030,07925,76436,61045,27957,53471,27477,89385,060119,674
OPM %35%35%37%36%32%42%45%49%51%52%49%57%
Other Income +1,2434,8581,7131,7564,474-37,775-4,2154,6561,019-3,02820,662-236
Interest4,4468,5469,5479,32610,62213,99215,09116,61619,30022,64821,75421,555
Depreciation19,85817,45019,77319,24321,34827,69029,40433,09136,43239,53845,57052,711
Profit before tax10,54012,8467,7233,267-1,732-42,846-3,43212,48316,56112,67938,39845,173
Tax %52%46%45%33%-197%-28%260%33%26%32%2%25%
Net Profit +5,0486,8934,2412,1841,688-30,664-12,3648,30512,2878,55837,48133,823
EPS in Rs8.4111.056.912.000.74-55.06-25.637.2314.9713.2058.8543.81
Dividend Payout %33%9%11%194%244%-3%0%39%27%62%28%55%

Financials of Bharti Airtel

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,9991,9991,9991,9991,9992,7282,7462,7952,8372,8772,9003,047
Reserves37,77864,77165,45867,53669,42474,41756,20763,75974,72679,142110,772146,010
Borrowings +83,415100,646107,288111,334125,428148,228162,785169,678226,020215,592213,642195,412
Other Liabilities +58,74757,05657,57868,65377,176133,718122,679124,975140,974144,408177,692207,683
Total Liabilities181,939224,472232,322249,521274,026359,091344,417361,207444,557442,019505,006552,152
Fixed Assets +124,279172,293178,235187,200200,832229,256223,480244,083277,394303,303388,468406,662
CWIP17,4155,70210,8389,7519,6344,2825,7265,95549,42516,90410,99912,613
Investments10,75211,97714,33916,15915,71125,47627,55029,34932,95431,6025,83818,901
Other Assets +29,49434,50028,91036,41147,850100,07787,66181,82084,78490,21099,700113,976
Total Assets181,939224,472232,322249,521274,026359,091344,417361,207444,557442,019505,006552,152

Financials of Bharti Airtel

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +28,05927,94228,28029,85420,07018,12948,20555,01765,32578,89898,332122,230
Cash from Investing Activity +-22,301-14,091-30,680-27,940-28,286-29,598-27,286-41,478-39,232-51,089-60,198-58,534
Cash from Financing Activity +-9,672-11,946-3511,9209,46419,144-24,910-15,203-24,470-27,778-36,533-52,293
Net Cash Flow-3,9141,905-2,7523,8351,2487,675-3,991-1,6641,623311,60111,402
Free Cash Flow12,8668,991-8,4324,605-8,980-2,45621,09128,99638,87538,97058,99076,683
CFO/OP98%96%89%104%82%56%111%99%97%105%121%107%

Financials of Bharti Airtel

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days202118261919131310121614
Inventory Days
Days Payable
Cash Conversion Cycle202118261919131310121614
Working Capital Days-205-161-199-258-329-352-270-239-217-236-277-198
ROCE %11%13%10%7%3%5%7%11%12%13%13%18%

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What Bharti Airtel's management said in earlier quarters

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