Bharti Hexacom Limited has informed the Exchange about Transcript
BHARTIHEXA · price
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Bharti Hexacom has filed the transcript of its Q4 FY2025 earnings call held jointly with parent Bharti Airtel on May 14, 2025. Q4 consolidated revenue came in at Rs 47,876 crore, with India revenue (ex-Indus) at Rs 33,100 crore. Q4 EBITDAaL margin improved 1.4 percentage points to 50.7%, and full-year India EBITDAaL margin expanded about 2% to 48% even after fully absorbing 5G costs. Mobile net adds were 5 million with ARPU of Rs 245 (Rs 248 on equal-day basis), and 5G customers reached 135 million. The company pre-paid another Rs 5,985 crore of high-cost DoT spectrum debt in Q4, and India net debt/EBITDAaL stands at 1.5. Management guided that FY2026 capex will be lower than FY2025's ~Rs 30,270 crore and that dividend payouts will continue to step up. Data center capacity is targeted to double in three years, with the company describing its current sub-12% market share as unsatisfactory.
The disclosure reinforces a positive story on margin expansion, falling capex intensity, and ongoing deleveraging, which together support free cash flow growth and higher dividend potential. However, Airtel Business revenue declined sequentially on a planned exit from low-margin work, and management declined to give specific capex or dividend policy numbers, leaving some uncertainty for the next fiscal year.