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Bharti Airtel Q1 FY27 Share Price & Earnings Call Analysis

₹1,972.10+1.23% today
Market cap
₹12.31L Cr
P/E
39.42
ROE
20.27%
PEG
0.87
Price to sales
5.58
Debt to equity
1.31
52W high / low
₹2,163 / ₹1,741
Sales growth (5Y)
15.96%
EBITDA margin
56.87%
Net profit margin
15.99%
Promoter holding
50.07%
Sales (last year)
₹2.20L Cr

Bharti Airtel Ltd is one of the world’s leading providers of telecommunication services with presence in 18 countries representing India, Sri Lanka, 14 countries in Africa. [1]

Guidance scorecard · Q1 FY27 call

What Bharti Airtel's management guided
and where it ranks in Telecom - Services

#4of 12 in
Telecom - Services
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Mobile ARPU growth: Substantial headroom exists within the current customer base driven by data consumption upgrades, unlimited plans, and postpaid growth aided by innovations like Fast Lane technology. Mid-term growth expected without immediate tariff…
  • Home broadband: Large opportunity remains, especially in top 1000 towns, with focus on high-quality customer acquisition, fiber acceleration, and precise FWA deployment. Converged fixed-mobile offerings expected to deepen customer relationships and reduce…
  • B2B segment: Strong growth expected with expansion in connectivity, cloud, data centers, and digital services (cybersecurity, IoT, CPaaS). Significant investments in infrastructure like fiber and data centers to fuel growth.

2 more points from Bharti Airtel's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Bharti Airtel said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Annual capex likely around $4 billion, with moderated radio capex and small core capex.
  • Large part of capex focused on transport infrastructure including fiber rollout and homes segment.
  • Modest 5G standalone capex as it is largely software-based.
  • Rapid data center portfolio expansion from 120-130 MW to 1 gigawatt planned over next few years.
  • Data center build requires large land parcels; ongoing efforts to secure prime locations in Mumbai.
  • Cloud business investments increasing with modular investments aligned to customer demand.
  • External funding raised (e.g., $1 billion at Nxtra) to accelerate data center investments; future large capex may also involve external sponsorship.

2 more points from Bharti Airtel's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Bharti Airtel said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Bharti Airtel said on the order book →

Full Q1 FY27 analysis
Full Telecom - Services ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Telecom - Services
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Bharti Airtel rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Telecom - Services companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹39,185 Cr68.4
240%+Flat₹3,509 Cr11.7
340%+Flat₹3,372 Cr15.5
4Bharti AirtelThis stock20–40%Flat₹11.94L Cr38.2
520–40%Flat₹81,095 Cr43.9
620–40%Flat₹52,416 Cr41.4

Sign up free to see every company in the sector ranking and track Bharti Airtel.

Pro shows every company guiding 40%+ revenue growth →Full Telecom - Services ranking

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%

Guidance history

How Bharti Airtel's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlanned—Rising
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

58out of 100

Momentum score · price trend

58 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−6.8%54%
Last 6 months+3.2%60%
Last 3 months−0.1%65%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bharti Airtel: 0.4 × 54 + 0.4 × 60 + 0.2 × 65 = 58.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Bharti Airtel's management said in earlier quarters

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