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Last Updated: April 2, 2026, 2:42 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532454 | NSE: BHARTIARTL

Bharti Airtel Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,372.28Overvalued by 22.99%vs CMP ₹1,782.00

P/E (35.4) × ROE (23.2%) × BV (₹207.00) × DY (0.90%)

₹1,073.64Overvalued by 39.75%vs CMP ₹1,782.00
MoS: -66% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2,046.2626%Under (+14.8%)
Graham NumberEarnings₹498.2419%Over (-72%)
DCFCash Flow₹1,150.5613%Over (-35.4%)
Net Asset ValueAssets₹193.348%Over (-89.2%)
EV/EBITDAEnterprise₹1,802.6111%Fair (+1.2%)
Earnings YieldEarnings₹533.008%Over (-70.1%)
ROCE CapitalReturns₹315.508%Over (-82.3%)
Revenue MultipleRevenue₹283.926%Over (-84.1%)
Consensus (8 models)₹1,073.64100%Overvalued
Key Drivers: EPS CAGR 49.1% lifts DCF — verify sustainability. | Wide model spread (₹193–₹2,046) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 49.1%

*Investments are subject to market risks

Investment Snapshot

64
Bharti Airtel Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 13.5% GoodROE 23.2% ExcellentD/E 2.20 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money55/100 · Moderate
FII holding up 3.34% (6mo) AccumulatingPromoter decreased by 1.40% Caution
Earnings Quality60/100 · Moderate
OPM stable around 51% SteadyWorking capital: -277 days (improving) Efficient
Quarterly Momentum90/100 · Strong
Revenue (4Q): +25% YoY AcceleratingProfit (4Q): +37% YoY Strong
Industry Rank60/100 · Moderate
P/E 35.4 vs industry 35.8 In-lineROCE 13.5% vs industry 14.5% AverageROE 23.2% vs industry 16.3% Above peers3Y sales CAGR: 14% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:42 am

Market Cap 10,85,730 Cr.
Current Price 1,782
Intrinsic Value₹1,073.64
High / Low 2,175/1,669
Stock P/E35.4
Book Value 207
Dividend Yield0.90 %
ROCE13.5 %
ROE23.2 %
Face Value 5.00
PEG Ratio0.72

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bharti Airtel Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bharti Airtel Ltd 10,85,730 Cr. 1,782 2,175/1,66935.4 2070.90 %13.5 %23.2 % 5.00
Vodafone Idea Ltd 93,608 Cr. 8.64 12.8/6.12 7.610.00 %1.93 %% 10.0
Tata Communications Ltd 39,621 Cr. 1,390 2,004/1,34234.6 99.91.80 %14.8 %55.2 % 10.0
Tejas Networks Ltd 7,466 Cr. 420 914/294 1870.60 %15.5 %12.8 % 10.0
Tata Teleservices (Maharashtra) Ltd 6,879 Cr. 35.2 81.2/30.1 1010.00 %50.3 %% 10.0
Industry Average154,437.75 Cr288.7835.80148.490.25%14.53%16.28%8.54

All Competitor Stocks of Bharti Airtel Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 35,80436,00937,44037,04437,90037,59938,50641,47345,12947,87649,46352,14553,982
Expenses 17,72017,31217,84217,53018,08518,23418,79919,62720,53320,86721,62422,58423,199
Operating Profit 18,08518,69719,59819,51419,81519,36519,70821,84624,59727,00927,83929,56130,783
OPM % 51%52%52%53%52%52%51%53%54%56%56%57%57%
Other Income -412886-2,478-6541,013-1,3082,0104759,675403592809562
Interest 4,6865,1635,6145,1866,6455,2035,1525,4245,6765,5025,4614,8665,623
Depreciation 9,2989,4069,6549,73410,07410,07510,54011,00011,70412,32612,46513,18213,420
Profit before tax 3,6895,0141,8533,9404,1082,7786,0255,89716,8929,58410,50412,32212,301
Tax % 29%16%18%47%30%26%22%30%4%-30%29%30%31%
Net Profit 2,6144,2261,5202,0932,8762,0684,7184,15316,13512,4767,4228,6518,503
EPS in Rs 2.855.392.892.394.343.667.316.3125.9519.3310.4311.9111.63

Last Updated: February 6, 2026, 12:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 3:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 85,86496,10196,53295,46882,63980,78087,539100,616116,547139,145149,982172,985203,466
Expenses 59,35262,49962,54860,13852,56055,01650,93055,33759,01367,87172,09087,92588,274
Operating Profit 26,51233,60233,98435,33030,07925,76436,61045,27957,53471,27477,89385,060115,192
OPM % 31%35%35%37%36%32%42%45%49%51%52%49%57%
Other Income 2,8811,2434,8581,7131,7564,474-37,775-4,2154,6561,019-3,02820,6622,366
Interest 5,8794,4468,5469,5479,32610,62213,99215,09116,61619,30022,64821,75421,452
Depreciation 15,65019,85817,45019,77319,24321,34827,69029,40433,09136,43239,53845,57051,393
Profit before tax 7,86410,54012,8467,7233,267-1,732-42,846-3,43212,48316,56112,67938,39844,712
Tax % 62%52%46%45%33%-197%-28%260%33%26%32%2%
Net Profit 3,0195,0486,8934,2412,1841,688-30,664-12,3648,30512,2878,55837,48137,051
EPS in Rs 5.048.4111.056.912.000.74-55.06-25.637.2314.9713.2058.8553.30
Dividend Payout % 26%33%9%11%194%244%-3%0%39%27%62%28%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)67.21%36.55%-38.47%-48.50%-22.71%-1916.59%59.68%167.17%47.95%-30.35%337.96%
Change in YoY Net Profit Growth (%)0.00%-30.66%-75.02%-10.03%25.79%-1893.88%1976.27%107.49%-119.22%-78.30%368.31%

Bharti Airtel Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:15%
3 Years:14%
TTM:22%
Compounded Profit Growth
10 Years:18%
5 Years:31%
3 Years:83%
TTM:147%
Stock Price CAGR
10 Years:20%
5 Years:30%
3 Years:36%
1 Year:20%
Return on Equity
10 Years:10%
5 Years:15%
3 Years:17%
Last Year:23%

Last Updated: September 5, 2025, 1:00 am

Balance Sheet

Last Updated: December 4, 2025, 1:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 1,9991,9991,9991,9991,9991,9992,7282,7462,7952,8372,8772,9002,900
Reserves 57,75737,77864,77165,45867,53669,42474,41756,20763,75974,72679,142110,772114,896
Borrowings 75,89683,415100,646107,288111,334125,428148,228162,785169,678226,020215,592213,642208,010
Other Liabilities 45,84058,74757,05657,57868,65377,176133,718122,679124,975140,974144,408177,692198,057
Total Liabilities 181,492181,939224,472232,322249,521274,026359,091344,417361,207444,557442,019505,006523,863
Fixed Assets 140,614124,279172,293178,235187,200200,832229,256223,480244,083277,394303,303388,468395,060
CWIP 017,4155,70210,8389,7519,6344,2825,7265,95549,42516,90410,99910,219
Investments 15,53110,75211,97714,33916,15915,71125,47627,55029,34932,95431,6025,8389,459
Other Assets 25,34729,49434,50028,91036,41147,850100,07787,66181,82084,78490,21099,700109,124
Total Assets 181,492181,939224,472232,322249,521274,026359,091344,417361,207444,557442,019505,006523,863

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 26,23328,05927,94228,28029,85420,07018,12948,20555,01765,32578,89898,332
Cash from Investing Activity + -25,181-22,301-14,091-30,680-27,940-28,286-29,598-27,286-41,478-39,232-51,089-60,198
Cash from Financing Activity + 2,774-9,672-11,946-3511,9209,46419,144-24,910-15,203-24,470-27,778-36,533
Net Cash Flow 3,826-3,9141,905-2,7523,8351,2487,675-3,991-1,6641,623311,601
Free Cash Flow 8,76712,8668,991-8,4324,605-8,980-2,45621,09128,99638,87538,97058,990
CFO/OP 112%98%96%89%104%82%56%111%99%97%105%121%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-49.00-50.00-67.00-72.00-81.00-100.00-112.00-117.00-112.00-155.00-138.00-128.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 272021182619191313101216
Inventory Days
Days Payable
Cash Conversion Cycle 272021182619191313101216
Working Capital Days -194-205-161-199-258-329-352-270-239-217-236-277
ROCE %10%11%13%10%7%3%5%7%11%12%13%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 55.02%54.97%54.75%54.57%53.48%53.17%53.14%53.12%52.42%51.26%50.27%48.87%
FIIs 20.97%21.48%21.87%22.69%24.35%24.62%25.07%24.27%25.41%26.72%27.42%28.75%
DIIs 19.78%19.55%19.69%19.51%19.20%19.13%18.69%19.52%19.23%19.09%19.40%19.54%
Government 0.12%0.12%0.12%0.12%0.12%0.12%0.12%0.12%0.12%0.12%0.12%0.12%
Public 4.05%3.82%3.53%3.07%2.80%2.89%2.89%2.91%2.75%2.74%2.72%2.65%
Others 0.05%0.05%0.04%0.06%0.05%0.06%0.07%0.07%0.07%0.07%0.05%0.05%
No. of Shareholders 7,58,7157,09,9526,85,5296,77,6906,94,2977,62,2667,84,9308,36,0958,33,4288,28,7198,48,4728,52,831

Shareholding Pattern Chart

No. of Shareholders

Bharti Airtel Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh Flexi Cap Fund 20,968,009 3.11 4167.1521,167,0342026-02-21 02:56:29-0.94%
ICICI Prudential Large Cap Fund 16,951,029 4.35 3337.15N/AN/AN/A
SBI Equity Hybrid Fund 15,900,000 3.85 3130.2331,000,0002025-12-08 00:51:45-48.71%
HDFC Balanced Advantage Fund 15,172,037 2.8 2986.9216,754,3542026-02-23 04:29:18-9.44%
HDFC Large Cap Fund 11,921,785 5.92 2347.04N/AN/AN/A
HDFC Flexi Cap Fund 11,000,000 2.22 2165.57N/AN/AN/A
SBI Focused Fund 13,000,000 4.73 2033.33N/AN/AN/A
Motilal Oswal Midcap Fund 9,517,664 5.44 1873.749,500,0002026-01-26 01:22:250.19%
Mirae Asset Large Cap Fund 9,157,992 4.47 1802.938,571,1282026-02-23 01:16:546.85%
Kotak Flexicap Fund 8,271,429 2.88 1628.4N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 58.0013.0914.807.67-27.65
Diluted EPS (Rs.) 56.0412.8014.577.63-27.65
Cash EPS (Rs.) 136.8078.8984.5569.7231.20
Book Value[Excl.RevalReserv]/Share (Rs.) 226.16216.40210.95164.46147.90
Book Value[Incl.RevalReserv]/Share (Rs.) 226.16216.40210.95164.46147.90
Revenue From Operations / Share (Rs.) 298.24260.69245.27208.49183.20
PBDIT / Share (Rs.) 163.33138.58127.28103.8883.78
PBIT / Share (Rs.) 84.7669.8663.0644.6830.24
PBT / Share (Rs.) 59.8217.3327.8618.00-26.21
Net Profit / Share (Rs.) 58.2410.1720.3310.52-22.34
NP After MI And SOA / Share (Rs.) 57.8512.9814.717.61-27.46
PBDIT Margin (%) 54.7653.1551.8949.8245.73
PBIT Margin (%) 28.4226.7925.7121.4316.50
PBT Margin (%) 20.056.6411.368.63-14.30
Net Profit Margin (%) 19.523.898.295.04-12.19
NP After MI And SOA Margin (%) 19.394.975.993.65-14.99
Return on Networth / Equity (%) 25.587.399.196.39-25.58
Return on Capital Employeed (%) 14.7213.1311.0110.007.08
Return On Assets (%) 6.521.671.861.17-4.35
Long Term Debt / Equity (X) 0.791.301.671.711.88
Total Debt / Equity (X) 1.131.501.822.002.20
Asset Turnover Ratio (%) 0.360.330.240.220.20
Current Ratio (X) 0.370.420.470.450.49
Quick Ratio (X) 0.370.410.460.450.48
Inventory Turnover Ratio (X) 424.190.000.000.000.00
Dividend Payout Ratio (NP) (%) 13.7930.4720.340.00-8.23
Dividend Payout Ratio (CP) (%) 5.854.843.790.008.67
Earning Retention Ratio (%) 86.2169.5379.660.00108.23
Cash Earning Retention Ratio (%) 94.1595.1696.210.0091.33
Interest Coverage Ratio (X) 4.353.523.743.493.05
Interest Coverage Ratio (Post Tax) (X) 2.221.591.631.250.50
Enterprise Value (Cr.) 1175373.82866218.75605930.28567069.50422698.86
EV / Net Operating Revenue (X) 6.795.784.354.874.20
EV / EBITDA (X) 12.4110.868.399.779.19
MarketCap / Net Operating Revenue (X) 5.804.713.053.622.82
Retention Ratios (%) 86.2069.5279.650.00108.23
Price / BV (X) 7.657.004.686.344.82
Price / Net Operating Revenue (X) 5.804.713.053.622.82
EarningsYield 0.030.010.010.01-0.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bharti Airtel Ltd. is a Public Limited Listed company incorporated on 07/07/1995 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L74899HR1995PLC095967 and registration number is 070609. Currently Company is involved in the business activities of Wireless telecommunications activities. Company's Total Operating Revenue is Rs. 108943.90 Cr. and Equity Capital is Rs. 2900.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Telecom ServicesAirtel Center, Plot No. 16, Gurugram Haryana 122015Contact not found
Management
NamePosition Held
Mr. Sunil Bharti MittalChairman
Mr. Gopal VittalVice Chairman & Mng.Director
Ms. Chua Sock KoongNon Executive Director
Mr. Tao Yih Arthur LangNon Executive Director
Ms. Nisaba GodrejIndependent Director
Ms. Kimsuka NarasimhanIndependent Director
Mr. Shyamal MukherjeeIndependent Director
Justice(Retd) Arjan Kumar SikriIndependent Director
Mr. Douglas Anderson BaillieIndependent Director
Mr. Rajan Bharti MittalNon Executive Director

FAQ

What is the intrinsic value of Bharti Airtel Ltd and is it undervalued?

As of 14 April 2026, Bharti Airtel Ltd's intrinsic value is ₹1073.64, which is 39.75% lower than the current market price of ₹1,782.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (23.2 %), book value (₹207), dividend yield (0.90 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bharti Airtel Ltd?

Bharti Airtel Ltd is trading at ₹1,782.00 as of 14 April 2026, with a FY2026-2027 high of ₹2,175 and low of ₹1,669. The stock is currently near its 52-week low. Market cap stands at ₹10,85,730 Cr..

How does Bharti Airtel Ltd's P/E ratio compare to its industry?

Bharti Airtel Ltd has a P/E ratio of 35.4, which is below the industry average of 35.80. This is broadly in line with or below the industry average.

Is Bharti Airtel Ltd financially healthy?

Key indicators for Bharti Airtel Ltd: ROCE of 13.5 % is moderate; ROE of 23.2 % shows strong shareholder returns. Dividend yield is 0.90 %.

Is Bharti Airtel Ltd profitable and how is the profit trend?

Bharti Airtel Ltd reported a net profit of ₹37,481 Cr in Mar 2025 on revenue of ₹172,985 Cr. Compared to ₹8,305 Cr in Mar 2022, the net profit shows an improving trend.

Does Bharti Airtel Ltd pay dividends?

Bharti Airtel Ltd has a dividend yield of 0.90 % at the current price of ₹1,782.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bharti Airtel Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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