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Vodafone Idea Ltd

IDEA
NSE
10.29
3.42%
Last Updated:
29 Apr '26, 4:00 PM
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Vodafone Idea Ltd

IDEA
NSE
10.29
3.42%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
1,11,485Cr
Close
Close Price
10.29
Industry
Industry
Telecom Services
PE
Price To Earnings
PS
Price To Sales
2.50
Revenue
Revenue
44,554Cr
Rev Gr TTM
Revenue Growth TTM
3.22%
PAT Gr TTM
PAT Growth TTM
-11.86%
Peer Comparison
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
10,53210,65610,71610,67310,60710,50810,93211,11711,01411,02311,19511,323
Growth YoY
Revenue Growth YoY%
2.92.41.00.50.7-1.42.04.23.84.92.41.9
Expenses
ExpensesCr
6,3226,4996,4346,3236,2716,3046,3826,4056,3546,4106,5116,506
Operating Profit
Operating ProfitCr
4,2104,1574,2834,3504,3364,2054,5504,7124,6604,6124,6844,817
OPM
OPM%
40.039.040.040.840.940.041.642.442.341.841.842.5
Other Income
Other IncomeCr
712133779302563002502171421401,271
Interest Expense
Interest ExpenseCr
5,0026,3986,5696,5186,2805,5196,6145,9406,4715,8934,7845,828
Depreciation
DepreciationCr
5,7045,6175,6675,5985,7515,3695,4045,6295,5715,4725,5675,550
PBT
PBTCr
-6,424-7,837-7,920-6,987-7,666-6,427-7,168-6,607-7,166-6,611-5,527-5,290
Tax
TaxCr
-53818-196820-3-3-4
PAT
PATCr
-6,419-7,840-8,738-6,986-7,675-6,432-7,176-6,609-7,166-6,608-5,524-5,286
Growth YoY
PAT Growth YoY%
2.2-7.5-15.012.6-19.618.017.95.46.6-2.723.020.0
NPM
NPM%
-61.0-73.6-81.5-65.5-72.4-61.2-65.6-59.5-65.1-60.0-49.3-46.7
EPS
EPS
-1.5-1.6-1.8-1.4-1.6-1.0-1.0-0.9-1.0-0.6-0.5-0.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
31,57135,94935,57628,27937,09344,95841,95238,51642,17742,65243,57144,554
Growth
Revenue Growth%
19.113.9-1.0-20.531.221.2-6.7-8.29.51.12.22.3
Expenses
ExpensesCr
20,75924,29925,36122,23132,97030,04525,00722,47925,36025,52625,44525,781
Operating Profit
Operating ProfitCr
10,81211,65010,2156,0484,12314,91316,94616,03616,81717,12618,12718,773
OPM
OPM%
34.332.428.721.411.133.240.441.639.940.141.642.1
Other Income
Other IncomeCr
4706357296751,780-36,961-19,5632952898631,0221,770
Interest Expense
Interest ExpenseCr
1,0451,7793,9794,8139,54315,39217,99820,98123,35425,76624,54322,976
Depreciation
DepreciationCr
5,3046,2567,8278,40914,53624,35623,63923,58423,05022,63421,97322,160
PBT
PBTCr
4,9334,250-863-6,499-18,175-61,797-44,253-28,234-29,298-30,410-27,368-24,594
Tax
TaxCr
1,7401,522-464-2,331-3,57212,081-2011482916-10
PAT
PATCr
3,1932,728-400-4,168-14,604-73,878-44,233-28,245-29,301-31,238-27,383-24,584
Growth
PAT Growth%
62.3-14.6-114.7-942.8-250.4-405.940.136.1-3.7-6.612.310.2
NPM
NPM%
10.17.6-1.1-14.7-39.4-164.3-105.4-73.3-69.5-73.2-62.9-55.2
EPS
EPS
5.54.5-0.7-6.9-17.2-27.3-15.4-9.8-8.4-6.4-4.0-2.6

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
3,5983,6013,6054,3598,73628,73528,73532,11948,68050,12071,3931,08,343
Reserves
ReservesCr
19,42919,95021,12722,90350,899-22,756-66,963-94,084-1,23,039-1,54,287-1,78,663-1,90,803
Current Liabilities
Current LiabilitiesCr
17,39615,58917,06110,63454,15295,77966,40361,13460,02354,14155,61452,671
Non Current Liabilities
Non Current LiabilitiesCr
20,04340,98654,91160,6811,15,9131,25,1611,75,3061,94,8602,21,5792,35,0232,12,5732,18,337
Total Liabilities
Total LiabilitiesCr
60,46780,12696,70598,5772,29,7002,26,9202,03,4811,94,0292,07,2431,84,9981,97,8671,88,548
Current Assets
Current AssetsCr
15,4664,4977,6339,18418,20016,68614,10016,83613,85412,86131,04024,084
Non Current Assets
Non Current AssetsCr
45,00175,62989,07289,3942,11,5002,10,2341,89,3811,77,1941,93,3891,72,1371,66,8271,64,464
Total Assets
Total AssetsCr
60,46780,12696,70598,5772,29,7002,26,9202,03,4811,94,0292,07,2431,84,9981,97,8671,88,548

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
10,41810,94910,4765,3325,3487,32815,64017,38718,86920,8269,291
Investing Cash Flow
Investing Cash FlowCr
-5,726-2,389-15,556-9,272-7,379-2,7901,075-5,730-5,414-1,907-16,248
Financing Cash Flow
Financing Cash FlowCr
8,028-9,3304,5063,925-2,949-5,019-16,731-10,554-14,680-18,9807,047
Net Cash Flow
Net Cash FlowCr
12,720-770-574-14-4,980-481-171,103-1,224-6189
Free Cash Flow
Free Cash FlowCr
6,2603,8245,144-3,269-2,238-47411,10811,49915,01219,296-600
CFO To PAT
CFO To PAT%
326.3401.3-2,620.9-127.9-36.6-9.9-35.4-61.6-64.4-66.7-33.9
CFO To EBITDA
CFO To EBITDA%
96.494.0102.688.2129.749.192.3108.4112.2121.651.3

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
66,11039,51630,89833,02252,1558,93726,58031,09128,33266,35948,619
Price To Earnings
Price To Earnings
21.814.50.00.00.00.00.00.00.00.00.0
Price To Sales
Price To Sales
2.11.10.91.21.40.20.60.80.71.61.1
Price To Book
Price To Book
2.91.71.31.20.31.5-0.7-0.5-0.4-0.6-0.5
EV To EBITDA
EV To EBITDA
7.56.58.114.938.76.913.315.115.818.115.0
Profitability Ratios
Profitability Ratios
GPM
GPM%
99.599.999.9100.099.9100.0100.0100.0100.0100.0100.0
OPM
OPM%
34.332.428.721.411.133.240.441.639.940.141.6
NPM
NPM%
10.17.6-1.1-14.7-39.4-164.3-105.4-73.3-69.5-73.2-62.9
ROCE
ROCE%
15.09.94.1-2.0-5.1-45.4-16.1-4.8-3.6-3.3-2.2
ROE
ROE%
13.911.6-1.6-15.3-24.5-1,235.4115.745.639.430.025.5
ROA
ROA%
5.33.4-0.4-4.2-6.4-32.6-21.7-14.6-14.1-16.9-13.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Vodafone Idea Ltd (VIL), a joint venture between the **Aditya Birla Group** and **Vodafone Group PLC**, is a major telecommunications provider in India. Operating under the unified **Vi™ brand** since 2020, the company serves approximately **198.2 million subscribers** as of March 31, 2025, with over 83% 4G population coverage. VIL holds the **highest 4G spectrum per million subscribers among private operators** in India, positioning it strongly for 5G expansion and enterprise digital transformation. The company has embarked on a strategic transformation from a **traditional telecom operator (Telco)** into a **technology-driven enterprise solution provider (TechCo)**, leveraging the global expertise of the Vodafone Group and local market understanding. --- ### **Strategic Transformation: From Telco to TechCo** VIL is aggressively reshaping its identity by expanding beyond core connectivity into a full-stack **digital and technology services provider**, with a dual focus on **consumer digital engagement** and **enterprise digital transformation**. #### **1. Vi Business: The TechCo Engine** The **Vi Business** division is central to VIL’s transformation, serving as a **technology enabler** for **global corporations, Indian enterprises, government entities, and SMEs**. - **Enterprise Offerings**: - **Enterprise Mobility Solutions**: Custom postpaid plans (e.g., **Vi Business Plus**, **Easy+**) with data pooling, mobile security, location tracking, and integration with **Google Workspace**. - **Integrated IoT Solutions**: End-to-end, secure IoT solutions across: - **Smart Mobility**: Vehicle tracking, EV battery monitoring, and fleet management (leadership in India’s automotive and utility sectors; connects **2 out of 3 smart meters**). - **Smart Infrastructure**: Smart street lighting, industrial automation, and solar/water management. - **Smart Utilities**: Advanced Metering Infrastructure (AMI) for DISCOMs. - **Cybersecurity (Vi Secure)**: Comprehensive suite co-developed with **Cisco, Fortinet, IBM, and Netscout Arbor**, offering threat monitoring, infrastructure protection, and compliance solutions. - **Cloud & Colocation**: - Partnerships with **Yotta Data Services**, **HPE**, and hyperscalers to provide **colocation**, **IaaS**, and **multi-cloud marketplace** offerings. - Developing **edge computing** and **private 4G/5G networks** for Industry 4.0. - **Contact Center as a Service (CCaaS)**: AI-powered cloud-based platform in partnership with **Genesys** and **Startele**, enabling real-time, omnichannel customer engagement. - **Rich Business Messaging (RBM)**: India’s first RBM provider (launched 2023), enabling brands to send interactive, rich-media messages via native SMS, achieving **2X higher engagement** and **premium pricing**. - **Infrastructure & Innovation**: - **GIGANet**: 5G-ready 4G network with **13,100+ Massive MIMO sites**, **~12,300 small cells**, and **E-band technology** for high throughput and low latency. - **Vi-C-DOT IoT Lab**: India’s first **"Lab-as-a-Service"**, issuing over 26 certifications in FY25; serves as a **Center of Excellence** for IoT standardization and innovation. - **Pan-India 5G NSA Core** ready for commercial deployment. - **Multi-Operator eSIM Solution**: World-class B2B eSIM capability via **IoT Smart Central**, a self-service platform for lifecycle management. #### **2. Digital Ecosystem: The Vi App as a Super App** VIL is transforming the **Vi App** into a **digital lifestyle hub**, offering a unified experience for telecom, entertainment, finance, and utility services. - **Entertainment & Media**: - **Vi Movies & TV**: Paid OTT bundling service aggregating **17+ platforms**, including **Disney+ Hotstar, SonyLIV, Zee5, SunNxt, Amazon MX Player, Lionsgate**, and **Netflix**. - Offers **350+ live TV channels** across **smartphones, Smart TVs, and streaming devices**. - Bundled with **unlimited data plans (e.g., Vi Max, Vi One)** to drive ARPU and retention. - **Ad-Supported Model (Vi Ads)**: AI/ML-driven ad-tech platform enabling targeted advertising across Vi’s ecosystem and third-party networks; empanelled with **top media agencies and brands**. - **Gaming & eSports**: - **Vi Games**: Hyper-casual and multiplayer games (Ludo, Rummy, Solitaire). - **CloudPlay**: On-demand mobile cloud gaming in partnership with **CareGame**, streaming AAA titles without downloads. - Partnership with **GamerJi** and **Team Vitality** for national eSports tournaments. - **Financial Services (Vi Finance)**: - Offers **personal loans (via Aditya Birla Capital)**, **credit cards**, and **fixed deposits** directly through the Vi App. - Positioned as a gateway to **embedded finance**, enhancing customer stickiness. - **Daily Life Services**: - **Bill Payments**: Electricity, water, FASTAG, insurance, EMIs. - **Vi Shop**: Integrated marketplace for **entertainment, food, travel, and shopping** (in partnership with Swiggy, EaseMyTrip, etc.). - **Jobs & Education**: Partnerships with **Apna, Enguru, and Pariksha** to offer job access, English training, and exam prep. #### **3. Consumer Strategy: Premiumization & Bundling** VIL is focusing on **ARPU improvement** through differentiated, high-value plans. - **Postpaid Growth**: - **Vi Max Postpaid**: Only plan in India with **"Choose Your Benefit"** feature, allowing customization of OTT, travel, and security benefits (e.g., Netflix, Norton, SwiggyOne). - **Vi RedX**: Premium postpaid plan with **Netflix, SonyLIV, EazyDiner, lounge access**, and **international roaming (unlimited in 40 countries)**. - **Easy+**: Enables corporate users to buy personal add-ons (roaming, OTT) via the app. - **Prepaid Differentiation**: - **Vi Hero Unlimited**: Free night data (12 AM–6 AM), weekend rollover. - **Vi Super Hero**: 12 hours of unlimited data daily. - **Vi Non-Stop Hero**: Truly **unlimited 24x7 data**—rolled out nationwide. - **Converged Offers (Vi One)**: - Bundles **broadband, mobile, and OTT** into a single subscription. - Launched via **You Broadband (Mumbai, Gujarat, Maharashtra)** and **Asianet (Kerala)**. - Targets **urban households** seeking a single-bill digital lifestyle. --- ### **Technology & Network Readiness** - **Spectrum & Infrastructure**: - **~195,300 tower locations** and **317,500+ km of optical fiber network** (including IRU). - 5G spectrum acquired in **17 priority circles** (mid-band and mmWave). - **900 MHz band refarmed** for improved indoor 4G coverage. - **5G & Future Tech**: - **5G NSA Core** and **vRAN/ORAN** deployed across India. - Strategic partnership with **AST SpaceMobile** to deliver **satellite-based broadband** to standard smartphones—aimed at remote and rural areas. - Live 5G use cases include **Digital Twin for construction**, **Smart Ambulance**, **Autonomous Guided Vehicles (Industry 4.0)**. - **AI & Data Science**: - **Big Data + AI/ML Platform on AWS**: Processes 1 billion+ data points daily. - Predictive models for **churn, upgrade potential, and cross-selling**. - **Anti-spam AI** system filters phishing and spam messages in real time. --- ### **Strategic Partnerships & Ecosystem Model** VIL follows a **platform-led, partnership-driven model** to co-create value: - **Technology Partners**: **Genesys, HPE Aruba, Yotta, Cisco, Fortinet**. - **Content & OTT**: **Netflix, Amazon Prime, Disney+ Hotstar, Zee5, Lionsgate, Hungama**. - **Financial & Lifestyle**: **Aditya Birla Capital, Swiggy, EaseMyTrip, Blue Ribbon Bags (roaming insurance)**. - **Government & Industry**: **C-DOT, West Bengal State Export Promotion Society (WBSEPS), Department of Telecom (DoT)**. --- ### **Retail & Distribution** - **Over 600 cities** covered via **500+ company-owned** and **2,000+ franchise stores**. - **Digital KYC**, **Self-KYC**, and **home delivery** in major cities. - **Vi Priority counters** for senior citizens and high-value customers. --- ### **Financial & Capital Position** As of March 31, 2025: - **Equity raised in FY25**: ₹614 billion - ₹180 billion via FPO - ₹40 billion from promoters - ₹369 billion from **Government of India** (via capital infusion) - **Subscriber Base**: 198.2 million (126.4 million 4G users) - **4G ARPU**: ₹175 (14.2% YoY growth), driven by tariff hikes and plan upgrades.