Bharti Hexacom Q4 FY26 Earnings Call Recording Uploaded on Website

2 min read     Updated on 15 May 2026, 08:51 AM
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Reviewed by
Ashish TScanX News Team
AI Summary

Bharti Hexacom uploaded the audio/video recording of its Q4 FY26 earnings call held on May 14, 2026, on its website per SEBI LODR Regulations. The company reported Q4 FY26 revenues of Rs 2,414 crore (up 5.4% YoY), full-year FY26 revenues of Rs 9,354 crore (up 9.4% YoY), and FY26 net profit of Rs 1,733 crore (up 16% YoY), with the Board recommending a final dividend of Rs 18 per share for FY26.

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Bharti Hexacom has announced the audited financial results for the fourth quarter and financial year ended March 31, 2026. The company reported total revenues of Rs 2,414 crore for Q4 FY26, up 5.4% YoY, while full-year FY26 revenues stood at Rs 9,354 crore, marking a 9.4% YoY growth. Net profit for FY26 increased 16% YoY to Rs 1,733 crore. The results were reviewed by the Audit Committee and approved by the Board of Directors on May 13, 2026. Subsequently, pursuant to the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has uploaded the audio/video recording of the earnings call held on May 14, 2026, regarding these results on its website.

Financial Performance

The following table summarizes the key financial metrics for the quarter and the year ended March 31, 2026:

Particulars: Q4 FY26 (Rs crore) Q4 FY25 (Rs crore) YoY Growth FY26 (Rs crore) FY25 (Rs crore) YoY Growth
Total Revenues 2,414 2,289 5.4% 9,354 8,548 9.4%
EBITDA 1,314 1,220 7.7% 5,069 4,372 15.9%
EBITDA Margin 54.4% 53.3% +113 bps 54.2% 51.1% +305 bps
Net Profit 447 468 -4.5% 1,733 1,494 16.0%

Operational Performance

Bharti Hexacom's operational metrics reflected strong momentum during the quarter. Mobile data traffic grew 30.9% YoY to 2,203 PBs, while average monthly data usage per customer rose 23.2% YoY to 34.2 GB. Total minutes of usage on the network during the quarter were 97 billion, representing a growth of 1.6% YoY. The company deployed 245 towers during the year, bringing the total network tower count to 26,742. Capital expenditure for Q4 FY26 stood at Rs 586 crore, with full-year capex at Rs 1,521 crore.

Key Operational Metrics — Mobile Services

Parameter: Q4 FY26 Q4 FY25 YoY Growth
Customer Base — Mobile Services (000's) 28,774 28,129 2.3%
ARPU (Rs) 252 242 4.5%
Data Usage per Customer per Month (GB) 34.2 27.7 23.2%

Dividend Declaration

The Board of Directors has recommended a final dividend of Rs 18 per fully paid-up equity share of face value of Rs 5 each for the financial year 2025-26. The recommendation was approved at the board meeting held on May 13, 2026, and is subject to shareholder approval at the ensuing Annual General Meeting.

Historical Stock Returns for Bharti Hexacom

1 Day5 Days1 Month6 Months1 Year5 Years
-0.59%-3.49%-1.16%-16.11%-21.26%+82.04%

With ARPU growth moderating to 4.5% YoY in Q4 FY26, what tariff hike strategies could Bharti Hexacom deploy in FY27 to sustain revenue momentum amid intensifying competition in its Rajasthan and Northeast circles?

Given the 30.9% surge in mobile data traffic against only 2.3% subscriber base growth, how soon might Bharti Hexacom need to accelerate its network capex beyond the current Rs 1,521 crore annual run-rate to prevent congestion and maintain service quality?

As 5G adoption potentially accelerates in Bharti Hexacom's operating circles, how could the company's monetization strategy evolve to convert heavy data users into higher-value premium subscribers?

Jefferies Maintains Buy on Bharti Hexacom with Target Price of ₹2060 After Strong Q4 Performance

1 min read     Updated on 14 May 2026, 11:44 AM
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AI Summary

Jefferies has maintained a Buy rating on Bharti Hexacom with a target price of ₹2060, following a strong Q4 beat driven by better-than-expected mobile ARPU and robust Homes business growth. The brokerage raised its FY27–28 EPS estimates by 7% and projects FY26–29 CAGRs of 14% in revenue, 19% in EBITDA, and 34% in free cash flow. A recent 18% correction in the stock price is seen as having improved the risk-reward profile for investors.

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Jefferies has maintained its Buy rating on Bharti Hexacom with a target price of ₹2060, following a quarterly performance that beat expectations across multiple financial metrics. The brokerage highlighted that the outperformance was primarily driven by better-than-expected mobile Average Revenue Per User (ARPU) and robust growth in the Homes business segment.

Q4 Beat Drives Estimate Upgrades

The strong Q4 results have prompted Jefferies to revise its earnings outlook upward. The brokerage raised its FY27–28 EPS estimates by 7%, reflecting greater confidence in the company's near-to-medium-term earnings trajectory. The Q4 beat was broad-based, spanning key performance metrics rather than being concentrated in a single area.

The following table summarises the key highlights from Jefferies' assessment:

Parameter: Details
Rating: Buy (Maintained)
Target Price: ₹2060
Q4 Performance: Beat across metrics
Key Drivers: Better-than-expected mobile ARPU; robust Homes business growth
EPS Estimate Revision: FY27–28 EPS raised by 7%
Recent Stock Correction: 18%

FY26–29 Growth Outlook

Jefferies projects a strong compounded annual growth trajectory for Bharti Hexacom over the FY26–29 period. The brokerage's estimates point to meaningful expansion across revenue, profitability, and cash generation metrics.

Metric: FY26–29 CAGR
Revenue: 14%
EBITDA: 19%
Free Cash Flow: 34%

The projected 34% CAGR in free cash flow stands out as particularly notable, indicating expectations of significant improvement in the company's cash generation capacity over the forecast period.

Stock Correction Seen as Improved Entry Point

Jefferies also noted that the recent 18% correction in Bharti Hexacom's stock price has improved the risk-reward profile for investors. The combination of a strong operational beat, upward earnings revisions, and a more attractive valuation following the pullback forms the basis of the brokerage's continued positive stance on the stock.

Historical Stock Returns for Bharti Hexacom

1 Day5 Days1 Month6 Months1 Year5 Years
-0.59%-3.49%-1.16%-16.11%-21.26%+82.04%

What specific factors could sustain Bharti Hexacom's ARPU growth trajectory beyond FY26, particularly amid intensifying competition from Reliance Jio and Vodafone Idea's potential recovery?

How dependent is the projected 34% free cash flow CAGR on continued tariff hikes, and what risks could derail this outlook if regulatory intervention limits future pricing increases?

Could Bharti Hexacom's strong Homes business growth signal an accelerated 5G fixed wireless access expansion strategy in its key circles of Rajasthan and the Northeast?

More News on Bharti Hexacom

1 Year Returns:-21.26%