Transcript of the Analyst/ Investor Call held on 18 May 2026 relating to Company''s performance for the fourth quater and financial year ended 31 March 2026
IDEA · price
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Vodafone Idea reported Q4FY26 revenue of Rs 11,332 crore (up 2.9% YoY) and full-year revenue of Rs 44,873 crore (up 3%). Customer ARPU rose 8.3% YoY to Rs 190, marking 19 consecutive quarters of ARPU growth. The company stabilized its subscriber base at 192.8 million customers for the first time since the merger. A major positive was the finalization of AGR dues at Rs 64,046 crore (reduced from Rs 87,695 crore), with a structured repayment schedule through FY41. The Aditya Birla Group committed to infusing Rs 4,730 crore in additional equity, and Kumar Mangalam Birla became Non-Executive Chairman. The company deployed Rs 16,000 crore over six quarters, adding 30,000 towers and launching 5G in 80+ cities.
The AGR resolution removes a major overhang, while improving ARPU and subscriber stabilization indicate operational turnaround. Management's three-year targets (Rs 45,000 crore capex, double-digit revenue growth, 3x EBITDA) and the margin roadmap to 'north of 35%' from current 20.5% provide clear visibility. Promoter commitment and debt reduction to Rs 726 crore strengthen the balance sheet.