Vodafone Idea (IDEA) Q4 25/26 earnings summary

Executive summary

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

• Revenue for Q4FY26 reached Rs. 11,332 Cr, the highest average daily revenue in six years.

• Annual revenue grew 3.0% year-over-year to Rs. 44,873 Cr; annual EBITDA rose 4.8% to Rs. 19,003 Cr.

• Board approved issuance of Rs. 4,730 Cr ($500 million) in fully convertible warrants to Aditya Birla Group.

• AGR dues reassessment led to a one-time accounting gain, strengthening the balance sheet.

Financial highlights

• Q4FY26 revenue: Rs. 11,332 Cr, up 2.9% YoY; EBITDA: Rs. 4,889 Cr, up 4.9% YoY; EBITDA margin: 43.1%.

• FY26 revenue: Rs. 44,873 Cr (up 3.0% YoY); EBITDA: Rs. 19,003 Cr (up 4.8% YoY); EBITDA margin: 42.3%.

• PAT for Q4FY26: Rs. 51,970 Cr (including exceptional gain); FY26 PAT: Rs. 34,552 Cr.

• Capex for FY26: Rs. 8,742 Cr; Q4FY26 capex: Rs. 2,294 Cr.

• Debt from banks reduced to Rs. 726 Cr as of March 31, 2026; cash and bank balance at Rs. 3,715 Cr.

Outlook and guidance

• Confident of generating sufficient cash flow to meet obligations over the next 12 months.

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

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