Bharti Airtel (BHARTIARTL) — concall transcript

📢 Key Event
Shashwat Sharma appointed CEO designate effective January 1, 2026; Gopal Vittal to become Vice-Chairman & MD in 2025.

🔄 What Changed
Net debt-to-EBITDA improved to 2.6; operating free cash flow of ₹11,000 crores; 5G users reached 105 million; FWA added 6 lakh customers; Airtel Finance reached 1 million customers and ₹2,500 crores AUM; capex moderated to 22% of revenue.

🔮 What's Next
Capex expected to decline from peak levels; focus on transport networks, data centers, and B2B growth; deleveraging target of ₹40,000 crores over 12-18 months; standalone 5G trials for FWA to be deployed by December 2024; ARPU growth target of slightly above inflation.

💡 Investor Takeaway
Airtel is transitioning leadership while accelerating 5G and digital services to drive ARPU growth and deleverage its balance sheet through strategic capex allocation and spectrum monetization.

Bharti Airtel announced Shashwat Sharma as CEO designate effective January 1, 2026, with Gopal Vittal transitioning to Vice-Chairman & MD in 2025. The company reported consolidated revenue of ₹41,400 crores, India revenue of ₹31,500 crores, EBITDA margin of 54.8%, and operating free cash flow of ₹11,000 crores. Net debt-to-EBITDA improved to 2.6. Key growth areas include 5G expansion (105 million users), FWA (6 lakh new customers), and Airtel Finance (1 million customers, ₹2,500 crores AUM). ESG efforts include solarizing 3,500 sites and reducing CO2 emissions by 143,000 metric tonnes annually. Capex moderated to 22% of revenue in 1H, with plans for continued investment in network expansion and digital infrastructure.

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About Bharti Airtel Ltd (BHARTIARTL)

Telecommunication · Telecom-Service · Listed on BSE

Market Cap: ₹11,61,416.41 Cr P/E: 37.9 ROE: 24.6% ROCE: 26.2% Div Yield: 1.29%

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🔥 Also filed on 30 September 2024

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