Vodafone Idea (IDEA) investor relations material

Executive summary

• Board adopted audited results for Q4 and FY 2026, marking a significant year with strategic progress and leadership changes.

• Customer base stabilized at 192.8 million, with net subscriber additions turning positive since February 2026.

• Aditya Birla Group committed to an additional INR 4,730 crore ($500 million) equity infusion via fully convertible warrants, reinforcing promoter support.

• AGR dues finalized at INR 64,046 crore, down from INR 87,695 crore, providing long-term cash flow clarity and a one-time accounting gain.

• Credit rating upgraded to ICRA BBB with positive outlook, aiding lender engagement.

Financial highlights

• Q4 FY 2026 revenue: INR 11,332 crore, up 2.9% YoY; full year revenue: INR 44,873 crore, up 3% YoY.

• Q4 EBITDA: INR 4,889 crore, up 4.9% YoY; EBITDA margin improved by 80 bps to 43.1%.

• Full year EBITDA: INR 19,003 crore, up 4.8% YoY; cash EBITDA for FY 2026: INR 9,217 crore.

• Net profit of INR 51,970 crore in Q4 and INR 34,552 crore for FY 2026, driven by exceptional AGR settlement gain.

• Bank debt reduced to INR 726 crore from INR 2,326 crore YoY; free cash bank balance at INR 3,715 crore.

Outlook and guidance

• Three-year targets: sustained net customer addition, double-digit revenue growth, and tripling EBITDA.

• Planned CapEx of INR 45,000 crore over next three years, with intensified investment starting Q1 FY 2027.

• Confident in fulfilling obligations with promoter infusion, bank loans, and improved cash flows.

• Focus on expanding 4G/5G coverage and accelerating network investments.

• Planned 4G population coverage in 17 circles to exceed 95%.