Vodafone Idea reported annual revenue of ₹44,873 crore for FY26, accompanied by a Cash EBITDA of ₹9,217 crore, as per its investor presentation for Q1FY26. The telecom operator focused on its strategic initiatives aimed at sustained subscriber addition, double-digit revenue growth, and tripling Cash EBITDA over three years. The company outlined a capital expenditure plan of ₹45,000 crore towards network rollout until FY29.

Financial Performance

In Q4FY26, the company recorded revenue of ₹11,332 crore, a 2.9% increase compared to ₹11,014 crore in Q4FY25. EBITDA for the quarter stood at ₹4,889 crore, up 4.9% from the previous year's ₹4,660 crore. Cash EBITDA also saw a 4.8% rise, reaching ₹2,432 crore in Q4FY26 from ₹2,321 crore in the corresponding period of the previous year.

Operational Metrics

Operational data indicated a shift in subscriber mix and engagement. Customer ARPU increased by 8.3% year-on-year to ₹190 in Q4FY26 from ₹175 in Q4FY25. Data usage per day grew significantly by 30.1% to 83.0 Pb from 63.8 Pb in the same period. The number of 4G/5G subscribers rose marginally by 2.0% to 128.9 million, while broadband sites expanded to 202,000, an increase of 17,000 sites.

Strategic Initiatives

Vodafone Idea is executing a 17-5-5 network strategy, targeting coverage parity in 17 key circles that account for approximately 99% of its revenue. The company is also focusing on brand reappraisal and service differentiation through AI-led initiatives like Super Agents and Voice Biometric authentication. Its digital ecosystem assets, including the Vi App and VI movies & tv, are central to its strategy for driving digital adoption and revenue growth.

Vodafone Idea has acquired a 26% equity stake in MTK Quantum Green Energy Pvt. Ltd for ₹4.33 crore to secure cost-effective renewable energy. The telecom operator invested ₹4,33,22,500 to purchase 43,32,250 equity shares of ₹10 each in the special purpose vehicle. This strategic move allows Vodafone Idea to comply with regulatory requirements for captive power plants under the Electricity Act, 2003 and Indian Electricity Rules, 2005.

The acquisition was completed through cash consideration and does not fall within the purview of related party transactions. The promoter, promoter group, or group companies of Vodafone Idea do not hold any interest in MTK Quantum. No governmental or regulatory approvals were required for this transaction.

Target Entity Details

MTK Quantum Green Energy Pvt. Ltd was incorporated on October 29, 2025, and operates in the renewable energy sector. The company is currently in the process of setting up a Captive Solar Power Plant in Tamil Nadu. Its primary objective involves setting up solar and wind power plants for generating, transmitting, and distributing power.

Transaction Structure

The investment was executed following a Shareholder's Agreement and Power Purchase Agreement. MTK Quantum serves as the special purpose vehicle formed specifically for owning and operating the Captive Power Plant. The acquisition enables Vodafone Idea to procure renewable energy while adhering to regulatory standards.