Vodafone Idea Limited has informed the Exchange about the Transcript of the Analyst/ Investor Call held on 2 June 2025 relating to Company's Performance for the fourth quarter and financial year ended 31 March 2025.
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Vodafone Idea's management detailed FY25 results, with Q4 revenue of Rs. 110.1 billion (up 3.8% YoY) and FY25 revenue of Rs. 435.7 billion. FY25 EBITDA (excl. IndAS116) improved 9.5% to Rs. 92 billion, while PAT loss narrowed by Rs. 38.5 billion to Rs. 273.8 billion. A major highlight was the conversion of Rs. 369.5 billion government spectrum dues into equity on April 8, 2025, raising GoI's stake to 49% and diluting promoters to 25.6%. Total equity raised in FY25 was ~Rs. 614 billion. The company launched 5G services in March 2025 across Mumbai, Delhi, Chandigarh and Patna, with full 17-circle rollout targeted by August 2025. Bank debt reduced from Rs. 40.4 billion to Rs. 23.3 billion, cash balance stands at Rs. 99.3 billion, and credit ratings were upgraded. AGR dues remain at ~Rs. 760 billion, and the Vodafone Group settlement asset receipt has been deferred to September 2025 pending AGR clarity.
GoI's 49% stake makes Vi effectively a government-backed telco, providing some comfort on funding but raising governance overhang. Active network investment and 5G rollout could slow subscriber losses, but AGR resolution and bank debt funding remain critical for long-term survival. Capital raise timeline remains uncertain as management had no concrete update.