Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 475335.02 Crore) operating in Telecommunications sector.
Bharti Airtel key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.Sunil Bharti Mittal, Mr.Shyamal Mukherjee, Mr.Dinesh Kumar Mittal, Ms.Kimsuka Narasimhan, Mr.V K Viswanathan, Ms.Nisaba Godrej, Mr.Manish Kejriwal, Ms.Chua Sock Koong, Mr.Tao Yih Arthur Lang, Mr.Rakesh Bharti Mittal, Mr.Gopal Vittal, Mr.Pradeep Kumar Sinha. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 597 Crore shares outstanding.
Investment Rationale
The brokerage maintains BUY on Bharti(unchanged TP of INR 940) as it expect tariff hikes to be more frequent, going forward, as the industry requires an ARPU of INR 256-285 in the next 3-5 years for a pre-tax RoCE of 12-15% to justify 5G rollout.
Further, the brokerage expects Bharti’s India wireless ARPU to grow at a CAGR of ~9% to INR 288 in FY28; hence, it estimates consolidated EBITDA CAGR of ~14% overFY23-28.
Promoter/FII Holdings
Promoters held 55.02 per cent stake in the company as of 31-Mar-2023, while FIIs owned 20.97 per cent, DIIs 19.72 per cent.
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