DINESH

Bharti Airtel

Industry: Telecom
Latest CMP 1,757
Today's Change ▼ -0.80%
52-Week High / Low 2,136 | 1,735
Price Date: 30-Sep-2026
Recommendation Strong Buy
Target Price 2,581
Expected Upside 21.2%
Forecast Horizon 2 Years
Historical CAGR 11.3%
1,000 Invested 01-Oct-2006
Today's Value 8,449
Investment Period 20 Years

Stock Snapshot

Post Results Return
-1.8%
Neutral Market Reaction
1-Year Target Price
2,375
2-Year Target Price
2,581
52-Week High / Low
2,136 / 1,735
20-Day Return
-6.0%
Market Cap (Cr.)
1,070,646
Current PE
34.2
P/BV Ratio
7.2
Dividend Yield
0.6%
Industry PE
43.5

Price Performance

Vista Outlook

Basis of our Recommendation

Bharti Airtel's recent management commentary highlights a strategic pivot towards premiumization and disciplined capital allocation, which are expected to drive revenue growth and enhance margins. The company's focus on high-quality customer acquisition, particularly in the home broadband and enterprise segments, positions it well for sustained growth. Additionally, the aggressive scaling of its data center and cloud services is set to capture increasing enterprise demand, further solidifying its competitive position. Vista's financial outlook reflects a moderate revenue growth trajectory, supported by a stable margin outlook and a robust valuation that anticipates continued long-term growth. The expected upside of nearly 33% underscores confidence in the company's ability to navigate operational challenges while capitalizing on digitalization trends. However, potential headwinds include rising operational costs and competitive pressures in the broadband segment. Over the next 12-24 months, key opportunities lie in tariff corrections and the expansion of digital services, while watchpoints include inflationary pressures and execution risks in maintaining subscriber momentum amidst a competitive landscape

👍 Why We Like This Stock

  • Strategic focus on premiumization and high-quality customer acquisition is expected to enhance revenue and margins
  • Aggressive scaling of data centers and cloud services positions Bharti Airtel to capture growing enterprise demand
  • Management's disciplined capital allocation and emphasis on operational efficiency support long-term growth prospects

⚠ Things To Watch Out For

  • Rising operational costs and inflation may pressure margins and overall profitability
  • Competitive pressures in the home broadband segment could dilute growth potential
  • Execution risks related to maintaining subscriber momentum in a challenging pricing environment

Key Parameters

Balance Sheet Strength
Weak Cash Conversion
Market Share
Gaining
Industry Outlook
Improving
Analyst View
Strong Buy
Dividend History
Consistent
FII Holdings
Reducing

Financial Snapshot

View Technicals Analysis →
Actuals Forecast
FY24 FY25 FY26 FY27 FY28
Revenue (Cr.) 149,982 172,985 210,973 223,649 245,597
Profit Before Tax (Cr.) 20,031 24,650 48,591 56,900 64,177
PBT Margin 13.4% 14.2% 23.0% 25.4% 26.1%
Net Profit (Cr.) 13,464 22,134 39,851 47,045 43,571
Earnings Per Share 20.3 29.9 53.7 63.4 71.5

Analyst Recommendations

Broker Recommendation Target Price Date
HSBC ▲ Buy 2,500 01-Sep-2026
Jeffries ▲ Buy 1,400 01-Sep-2026
Morgan Stanley ▲ Overweight 2,440 28-Aug-2026
Citigroup ▲ Buy 2,230 13-Aug-2026
Kotak Securities ▲ Buy 2,330 13-Aug-2026
Emkay Global ▼ Reduce 2,000 06-Aug-2026
ICICI Securities ▲ Buy 2,410 06-Aug-2026
Motilal Oswal ▲ Buy 2,335 06-Aug-2026
Prabhudas Liladhar ▲ Buy 2,275 06-Aug-2026
CLSA ▲ Outperform 2,330 05-Aug-2026
Macguire ▲ Outperform 2,220 05-Aug-2026
Moneycontrol ► Equalweight 2,213 05-Aug-2026
Bernstein ▲ Outperform 2,150 29-Jul-2026
UBS ▼ Reduce 1,800 09-Jun-2026
Axis Securities ▲ Buy 2,530 15-May-2026
JPMorgan ▲ Buy 2,300 14-May-2026
Consensus Recommendation ▲ Strong Buy
Consensus Target 2,294
Coverage 16 Analysts
Analysts' Viewpoint
Bharti Airtel's strategic focus on premiumization and tariff hikes supports a strong growth outlook, with significant opportunities in digital infrastructure, including data centers and cloud services. The company's disciplined capital allocation and robust free cash flow generation underpin its deleveraging efforts. However, challenges such as competitive pressures, rising hardware costs, and execution risks in scaling new business segments like data centers and financial services present potential headwinds. Upcoming tariff hikes and data center expansions are key catalysts for future growth.

Company Overview

Show Company Profile

Bharti Airtel Limited operates as a telecommunications company in India and internationally. It operates through the Mobile Services India, Mobile Services Africa, Mobile Services South Asia, Airtel Business, Passive Tower Infrastructure Services, Homes Services, Digital TV Services, and Others segments. The company provides voice and data telecom services through wireless technology including 2G/3G/4G/5G services; passive infrastructure service, including the setup, operation, and maintenance of wireless communication towers; mobile money services; home services covering voice and data communications through fixed-line network, wireless network, and broadband technology for homes; and digital TV services comprising digital broadcasting services under the DTH platform and IPTV services. It also engages in the airtel business that includes MPLS, VoIP, SIP trunking, fixed line voice solutions, communications platform as a service (CPaaS), internet of things (IoT), managed services, enterprise mobility applications, cloud, and cybersecurity, data and voice, network integration, managed services, security, and platform services. In addition, the company offers post-paid, prepaid, roaming, data services, OTT content, and various value-added services, as well as mobile TV, video calls, live-streaming videos, gaming, and high-definition (HD) and 4K content services. The company was formerly known as Bharti Tele-Ventures Limited and changed its name to Bharti Airtel Limited in April 2006. Bharti Airtel Limited was incorporated in 1995 and is headquartered in Gurugram, India.