Bharti Airtel Ltd (BHARTIARTL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: 78/100 (Strong)

Business Quality 80/100

ROE (Return on Equity): 20.3%

ROCE (Return on Capital): 17.6%

Explain Methodology →

Financial Health 73/100

Debt to Equity: 1.31x

Solvency Runway: High (Interest Coverage > 8x)

Explain Methodology →

Growth Trajectory 71/100

Annual Revenue Growth: 8.4% YoY

Net Profit Growth: 28.5% YoY

Explain Methodology →

Profitability & Margins 96/100

Operating Margin (OPM): 57.0%

Net Profit Margin: 14.8%

Explain Methodology →

Cash Flow Quality 95/100

Free Cash Flow (FCF): Cash Accretive

CFO to EBITDA Conversion: > 75% Conversion Rate

Explain Methodology →

Valuation Attractiveness 51/100

Stock P/E Multiple: 34.8x

Price to Book (P/B): 7.1x

Explain Methodology →

Price & Trend Momentum 73/100

14-Day RSI: 58.2 (Neutral/Bullish)

DMA Alignment: Trading Above 50 & 200 DMA

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Governance & Risk 70/100

Promoter Pledge: 0.0% (Clean)

Statutory Auditor Opinion: Unqualified / Clean Pass

Explain Methodology →

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.78%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 26.5%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 20.3%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹2,035.19

200-Day DMA ● Overlay

₹1,887.56

14-Day RSI ● Overlay

58.2 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹10.87 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

34.8x

Price / EPS

Book Value (₹) Assets

₹245.0

P/B: 7.1x

ROE (%) Quality

20.3%

Net Profit / Equity

ROCE (%) Efficiency

17.6%

EBIT / Capital

Dividend Yield Yield

1.38%

Face Value: ₹10

Debt / Equity Solvency

1.31x

Manageable

EPS (TTM) Per Share

₹50.03

Trailing 12M

OPM (%) Spread

57.0%

EBITDA Margin

Free Cash Flow Cash

₹76,683 Cr

CFO - Capex

About Bharti Airtel Ltd

Website →

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across South Asia and Africa, delivering 5G mobile, broadband, and cloud services.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 41% × Turnover: 0.85x × Leverage: 2.31x = ROE: 20.3%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 20.3%).
• Maintains healthy operating profit margins of ~57.0%.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 1.31x.
• Stock is trading at a premium of 7.1x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹2.20 Lakh Cr

Latest PAT

₹36,413 Cr

EPS (TTM)

₹50.03

OPM %

57.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	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 / Revenue	₹37,440 Cr	₹37,044 Cr	₹37,900 Cr	₹37,599 Cr	₹38,506 Cr	₹41,473 Cr	₹45,129 Cr	₹47,876 Cr	₹49,463 Cr	₹52,145 Cr	₹53,982 Cr	₹55,383 Cr	₹58,539 Cr
Operating Profit (EBITDA)	₹19,598 Cr	₹19,514 Cr	₹19,815 Cr	₹19,365 Cr	₹19,708 Cr	₹21,846 Cr	₹24,597 Cr	₹27,009 Cr	₹27,839 Cr	₹29,561 Cr	₹30,783 Cr	₹31,492 Cr	₹33,303 Cr
OPM %	52.0%	53.0%	52.0%	52.0%	51.0%	53.0%	54.0%	56.0%	56.0%	57.0%	57.0%	57.0%	57.0%
Interest Expense	₹5,614 Cr	₹5,186 Cr	₹6,645 Cr	₹5,203 Cr	₹5,152 Cr	₹5,424 Cr	₹5,676 Cr	₹5,502 Cr	₹5,461 Cr	₹4,866 Cr	₹5,623 Cr	₹5,606 Cr	₹5,956 Cr
Depreciation	₹9,654 Cr	₹9,734 Cr	₹10,074 Cr	₹10,075 Cr	₹10,540 Cr	₹11,000 Cr	₹11,704 Cr	₹12,326 Cr	₹12,465 Cr	₹13,182 Cr	₹13,420 Cr	₹13,644 Cr	₹14,235 Cr
Profit before Tax (PBT)	₹1,853 Cr	₹3,940 Cr	₹4,108 Cr	₹2,778 Cr	₹6,025 Cr	₹5,897 Cr	₹16,892 Cr	₹9,584 Cr	₹10,504 Cr	₹12,322 Cr	₹12,301 Cr	₹10,045 Cr	₹13,773 Cr
Net Profit (PAT)	₹1,520 Cr	₹2,093 Cr	₹2,876 Cr	₹2,068 Cr	₹4,718 Cr	₹4,153 Cr	₹16,135 Cr	₹12,476 Cr	₹7,422 Cr	₹8,651 Cr	₹8,503 Cr	₹9,247 Cr	₹10,012 Cr
EPS in ₹	₹2.89	₹2.39	₹4.34	₹3.66	₹7.31	₹6.31	₹25.95	₹19.33	₹10.43	₹11.91	₹11.63	₹12.02	₹13.09

Annual P&L (₹ Cr)	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	₹96,101 Cr	₹96,532 Cr	₹95,468 Cr	₹82,639 Cr	₹80,780 Cr	₹87,539 Cr	₹1.01 Lakh Cr	₹1.17 Lakh Cr	₹1.39 Lakh Cr	₹1.50 Lakh Cr	₹1.73 Lakh Cr	₹2.11 Lakh Cr	₹2.20 Lakh Cr
Expenses	₹62,499 Cr	₹62,548 Cr	₹60,138 Cr	₹52,560 Cr	₹55,016 Cr	₹50,930 Cr	₹55,337 Cr	₹59,013 Cr	₹67,871 Cr	₹72,090 Cr	₹87,925 Cr	₹94,459 Cr	₹94,911 Cr
Operating Profit	₹33,602 Cr	₹33,984 Cr	₹35,330 Cr	₹30,079 Cr	₹25,764 Cr	₹36,610 Cr	₹45,279 Cr	₹57,534 Cr	₹71,274 Cr	₹77,893 Cr	₹85,060 Cr	₹1.17 Lakh Cr	₹1.25 Lakh Cr
OPM %	35%	35%	37%	36%	32%	42%	45%	49%	51%	52%	49%	55%	57%
Interest	₹4,446 Cr	₹8,546 Cr	₹9,547 Cr	₹9,326 Cr	₹10,622 Cr	₹13,992 Cr	₹15,091 Cr	₹16,616 Cr	₹19,300 Cr	₹22,648 Cr	₹21,754 Cr	₹21,555 Cr	₹22,051 Cr
Depreciation	₹19,858 Cr	₹17,450 Cr	₹19,773 Cr	₹19,243 Cr	₹21,348 Cr	₹27,690 Cr	₹29,404 Cr	₹33,091 Cr	₹36,432 Cr	₹39,538 Cr	₹45,570 Cr	₹52,711 Cr	₹54,481 Cr
Profit before Tax	₹10,540 Cr	₹12,846 Cr	₹7,723 Cr	₹3,267 Cr	-₹1,732 Cr	-₹42,846 Cr	-₹3,432 Cr	₹12,483 Cr	₹16,561 Cr	₹12,679 Cr	₹38,398 Cr	₹45,173 Cr	₹48,441 Cr
Net Profit	₹5,048 Cr	₹6,893 Cr	₹4,241 Cr	₹2,184 Cr	₹1,688 Cr	-₹30,664 Cr	-₹12,364 Cr	₹8,305 Cr	₹12,287 Cr	₹8,558 Cr	₹37,481 Cr	₹33,823 Cr	₹36,413 Cr
EPS in Rs	8.41	11.05	6.91	2.00	0.74	-55.06	-25.63	7.23	14.97	13.20	58.85	43.81	48.65

Balance Sheet (₹ Cr)	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	₹1,999 Cr	₹1,999 Cr	₹1,999 Cr	₹1,999 Cr	₹1,999 Cr	₹2,728 Cr	₹2,746 Cr	₹2,795 Cr	₹2,837 Cr	₹2,877 Cr	₹2,900 Cr	₹3,047 Cr
Reserves & Surplus	₹37,778 Cr	₹64,771 Cr	₹65,458 Cr	₹67,536 Cr	₹69,424 Cr	₹74,417 Cr	₹56,207 Cr	₹63,759 Cr	₹74,726 Cr	₹79,142 Cr	₹1.11 Lakh Cr	₹1.46 Lakh Cr
Borrowings (Debt)	₹83,415 Cr	₹1.01 Lakh Cr	₹1.07 Lakh Cr	₹1.11 Lakh Cr	₹1.25 Lakh Cr	₹1.48 Lakh Cr	₹1.63 Lakh Cr	₹1.70 Lakh Cr	₹2.26 Lakh Cr	₹2.16 Lakh Cr	₹2.14 Lakh Cr	₹1.95 Lakh Cr
Total Liabilities	₹1.82 Lakh Cr	₹2.24 Lakh Cr	₹2.32 Lakh Cr	₹2.50 Lakh Cr	₹2.74 Lakh Cr	₹3.59 Lakh Cr	₹3.44 Lakh Cr	₹3.61 Lakh Cr	₹4.45 Lakh Cr	₹4.42 Lakh Cr	₹5.05 Lakh Cr	₹5.45 Lakh Cr
Fixed Assets	₹1.24 Lakh Cr	₹1.72 Lakh Cr	₹1.78 Lakh Cr	₹1.87 Lakh Cr	₹2.01 Lakh Cr	₹2.29 Lakh Cr	₹2.23 Lakh Cr	₹2.44 Lakh Cr	₹2.77 Lakh Cr	₹3.03 Lakh Cr	₹3.88 Lakh Cr	₹4.06 Lakh Cr
Total Assets	₹1.82 Lakh Cr	₹2.24 Lakh Cr	₹2.32 Lakh Cr	₹2.50 Lakh Cr	₹2.74 Lakh Cr	₹3.59 Lakh Cr	₹3.44 Lakh Cr	₹3.61 Lakh Cr	₹4.45 Lakh Cr	₹4.42 Lakh Cr	₹5.05 Lakh Cr	₹5.45 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹28,059 Cr	₹27,942 Cr	₹28,280 Cr	₹29,854 Cr	₹20,070 Cr	₹18,129 Cr	₹48,205 Cr	₹55,017 Cr	₹65,325 Cr	₹78,898 Cr	₹98,332 Cr	₹1.22 Lakh Cr
Cash from Investing (CFI)	-₹22,301 Cr	-₹14,091 Cr	-₹30,680 Cr	-₹27,940 Cr	-₹28,286 Cr	-₹29,598 Cr	-₹27,286 Cr	-₹41,478 Cr	-₹39,232 Cr	-₹51,089 Cr	-₹60,198 Cr	-₹56,205 Cr
Cash from Financing (CFF)	-₹9,672 Cr	-₹11,946 Cr	-₹351.00 Cr	₹1,920 Cr	₹9,464 Cr	₹19,144 Cr	-₹24,910 Cr	-₹15,203 Cr	-₹24,470 Cr	-₹27,778 Cr	-₹36,533 Cr	-₹52,293 Cr
Free Cash Flow (FCF)	₹12,866 Cr	₹8,991 Cr	-₹8,432 Cr	₹4,605 Cr	-₹8,980 Cr	-₹2,456 Cr	₹21,091 Cr	₹28,996 Cr	₹38,875 Cr	₹38,970 Cr	₹58,990 Cr	₹76,683 Cr

Efficiency 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 (DSO)	20	21	18	26	19	19	13	13	10	12	16	14
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Cash Conversion Cycle (Days)	20	21	18	26	19	19	13	13	10	12	16	14
ROCE %	11%	13%	10%	7%	3%	5%	7%	11%	12%	13%	13%	18%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹764.09 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹2,109.00

DCF Fair Value

₹764.09

Graham Number

₹525.16

Margin of Safety

-68.9%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹764.09

Premium / Overvalued (Margin: -68.9%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹744	₹737	₹730	₹724
10%	₹757	₹750	₹744	₹737
12%	₹771	₹764	₹757	₹750
14%	₹785	₹778	₹771	₹764

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹764	Fairly Valued
Benjamin Graham Number	₹525	Market Priced
Historical Sector P/E	₹1,101	Premium
EV / EBITDA Multiplier	₹2,214	In-Line
Free Cash Flow Yield Model	₹2,067	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

3.64 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 1.31x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 57.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

50.07%

FIIs (Foreign)

26.48%

DIIs (Domestic)

20.64%

Government

0.15%

Public / Retail

2.64%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	54.75%	54.57%	53.48%	53.17%	53.14%	53.12%	52.42%	51.26%	50.27%	48.87%	48.87%	50.07%
+ FIIs (Foreign Portfolio)	21.87%	22.69%	24.35%	24.62%	25.07%	24.27%	25.41%	26.72%	27.42%	28.75%	27.79%	26.48%
+ DIIs (Mutual Funds / Insurance)	19.69%	19.51%	19.20%	19.13%	18.69%	19.52%	19.23%	19.09%	19.40%	19.54%	20.53%	20.64%
+ Public (Retail & HNIs)	3.53%	3.07%	2.80%	2.89%	2.89%	2.91%	2.75%	2.74%	2.72%	2.65%	2.63%	2.64%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Telecommunications.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

BHARTIARTL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

BHARTIARTL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

BHARTIARTL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹2,699.52

Accelerated market share capture in Telecommunications, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹2,362.08

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 35x P/E.

🐻 Bear Case (15%) -12.0%

₹1,855.92

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Telecommunications)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:30 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Bharti Airtel Ltd (BHARTIARTL)	Target Stock	₹2,109.00	+1.78%	34.8x	20.3%	17.6%	1.31	₹10.87 Lakh Cr
Vodafone Idea Ltd (IDEA)	Telecom Cellular Services	₹12.88	+1.66%	N/A	N/A	-1.7%	4.85	₹1.37 Lakh Cr
Indus Towers Ltd (INDUSTOWER)	Passive Telecom Tower Infrastructure	₹397.50	+3.64%	13.9x	18.6%	19.5%	0.53	₹99,261 Cr
Tata Communications Ltd (TATACOMM)	Subsea Fiber & Cloud Connectivity	₹1,744.00	+2.56%	45.5x	32.6%	14.6%	3.55	₹47,331 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:30:12 IST	✓ Live Sync
Financial Statements (10Y)	Bharti Airtel Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Bharti Airtel Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Bharti Airtel Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Telecommunications)

Metric Explainer

Stock DNA Methodology

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