November 29, 2022

Securities has buy call on Bharti Airtel with a target price of Rs 983. The current market price of . is Rs 847.15.

Bharti

Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 498754.53 Crore) operating in Telecommunications sector.
Ltd. key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 34728.70 Crore, up 5.25 % from last quarter Total Income of Rs 32996.80 Crore and up 22.13 % from last year same quarter Total Income of Rs 28435.20 Crore. Company reported net profit after tax of Rs 2622.20 Crore in latest quarter.

Investment Rationale

Airtel is in a strong position to gain from the industry’s average revenue per user growth of 50% over the next four-five years, supported by an attractive market structure with two strong players and two weak players, along with favorable regulations. However, full fledge mobile business entry by Adani group for retail customers, delays in tariff hikes, difficulty in huge debt servicing, and elevated capex/regulatory payouts could be the concern areas for the company.

Promoter/FII Holdings
Promoters held 55.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.14 per cent, DIIs 14.63 per cent.

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