Telecom-Service · BHARTI
Telecom Services
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We maintain our BUY rating on the stock based on SOTP valuation, driven by the company's superior margins, impressive subscriber growth, and increased 4G conversions.
Bharti Airtel has discontinued a few prepaid plans, effectively raising the entry-level unlimited plan to INR349, which could boost blended ARPU by 6-7% in the medium term, though it may signal a delay in an industry-wide tariff hike. We reiterate our BUY rating on Bharti with a target price of INR2,335.
Bharti Airtel reported a strong performance in 1QFY27, with consolidated EBITDA rising 6% QoQ driven by outperformance in India wireless and strong show continuing in Airtel Africa. We reiterate our BUY rating with SoTP-based revised TP of INR2,335.
Bharti Airtel reported a strong 1QFY27 beating estimates driven by strong ARPU, supported by higher postpaid additions and a richer 5G subscriber mix. We reiterate BUY with a revised target price of INR 2,400.
BHARTI reported consol. Revenue and EBITDA of INR585.4bn and INR333.0bn, up 5.7% QoQ / 18.4% YoY, driven by strong growth across India and Africa operations. Maintain BUY with a revised TP of INR2,275, based on an implied 12.2x FY28E EV/EBITDA for the India business, while additionally incorporating the value of investments in Airtel Africa, Indus Towers and Bharti Hexacom.
Bharti Airtel is well-positioned to continue gaining market share, backed by the highest penetration, minimal capex requirements, and a stronger digital portfolio supported by rising per-user data and growing business verticals.
Bharti Airtel reported a strong performance in 1QFY27, with consolidated EBITDA rising 6% QoQ, driven by outperformance in India wireless and strong show continuing in Airtel Africa. We reiterate our BUY rating with SoTP-based revised TP of INR2,335.
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