Bharti Airtel Financial Statements
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ConsolidatedStandalone
| Y/e 31 Mar | Mar-2018 | Mar-2017 | Mar-2016 | Mar-2015 |
|---|---|---|---|---|
| Growth matrix (%) | ||||
| Revenue growth | (12) | (1.10) | 0.45 | 11.90 |
| Op profit growth | (15) | 3.96 | 1.14 | 21 |
| EBIT growth | (28) | (3.90) | 22 | 15.70 |
| Net profit growth | (71) | (37) | 31.50 | 66.70 |
| Profitability ratios (%) | ||||
| OPM | 35.90 | 37 | 35.20 | 35 |
| EBIT margin | 16 | 19.50 | 20 | 16.50 |
| Net profit margin | 1.31 | 3.98 | 6.30 | 4.81 |
| RoCE | 6.89 | 10.10 | 12.40 | 11.50 |
| RoNW | 0.40 | 1.42 | 2.85 | 2.32 |
| RoA | 0.14 | 0.52 | 0.97 | 0.84 |
| Per share ratios () | ||||
| EPS | 5.46 | 10.60 | 17.20 | 11.30 |
| Dividend per share | 5.34 | 1 | 1.36 | 3.85 |
| Cash EPS | (45) | (40) | (28) | (38) |
| Book value per share | 174 | 169 | 167 | 99.50 |
| Valuation ratios | ||||
| P/E | 67.10 | 30.30 | 18.70 | 31.90 |
| P/CEPS | (8.10) | (8) | (11) | (9.50) |
| P/B | 2.10 | 1.90 | 1.93 | 3.63 |
| EV/EBIDTA | 8.09 | 6.31 | 6.41 | 6.69 |
| Payout (%) | ||||
| Dividend payout | 194 | 10.50 | 17.60 | 44.60 |
| Tax payout | (27) | (39) | (55) | (48) |
| Liquidity ratios | ||||
| Debtor days | 23.20 | 19.60 | 20.30 | 21.70 |
| Inventory days | 0.26 | 0.42 | 0.57 | 0.52 |
| Creditor days | (233) | (179) | (122) | (130) |
| Leverage ratios | ||||
| Interest coverage | (1.40) | (1.90) | (2.30) | (3.60) |
| Net debt / equity | 1.51 | 1.51 | 1.43 | 2.04 |
| Net debt / op. profit | 3.48 | 2.89 | 2.81 | 2.42 |
| Cost breakup () | ||||
| Material costs | -- | -- | -- | (0.30) |
| Employee costs | (4.80) | (4.50) | (5.10) | (5.10) |
| Other costs | (59) | (58) | (60) | (60) |
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ConsolidatedStandalone
| Y/e 31 Mar( In .Cr) | Mar-2018 | Mar-2017 | Mar-2016 | Mar-2015 |
|---|---|---|---|---|
| Revenue | 83,688 | 95,468 | 96,532 | 96,101 |
| yoy growth (%) | (12) | (1.10) | 0.45 | 11.90 |
| Raw materials | -- | -- | -- | (280) |
| As % of sales | -- | -- | -- | 0.29 |
| Employee costs | (3,977) | (4,303) | (4,911) | (4,857) |
| As % of sales | 4.75 | 4.51 | 5.09 | 5.05 |
| Other costs | (49,632) | (55,835) | (57,637) | (57,362) |
| As % of sales | 59.30 | 58.50 | 59.70 | 59.70 |
| Operating profit | 30,079 | 35,330 | 33,984 | 33,602 |
| OPM | 35.90 | 37 | 35.20 | 35 |
| Depreciation | (19,243) | (19,773) | (17,450) | (19,858) |
| Interest expense | (9,326) | (9,547) | (8,546) | (4,447) |
| Other income | 2,564 | 3,015 | 2,786 | 2,096 |
| Profit before tax | 4,074 | 9,025 | 10,775 | 11,393 |
| Taxes | (1,084) | (3,482) | (5,953) | (5,487) |
| Tax rate | (27) | (39) | (55) | (48) |
| Minorities and other | (1,085) | (442) | (816) | (432) |
| Adj. profit | 1,906 | 5,101 | 4,005 | 5,474 |
| Exceptional items | (807) | (1,302) | 2,072 | (853) |
| Net profit | 1,099 | 3,800 | 6,077 | 4,621 |
| yoy growth (%) | (71) | (37) | 31.50 | 66.70 |
| NPM | 1.31 | 3.98 | 6.30 | 4.81 |
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| Y/e 31 Mar ( In .Cr) | Mar-2018 | Mar-2017 | Mar-2016 | Mar-2015 |
|---|---|---|---|---|
| Profit before tax | 4,074 | 9,025 | 10,775 | 11,393 |
| Depreciation | (19,243) | (19,773) | (17,450) | (19,858) |
| Tax paid | (1,084) | (3,482) | (5,953) | (5,487) |
| Working capital | (5,505) | 400 | -- | (400) |
| Other operating items | -- | -- | -- | -- |
| Operating cashflow | (21,758) | (13,830) | (12,629) | (14,352) |
| Capital expenditure | 84,072 | 63,208 | -- | (63,208) |
| Free cash flow | 62,314 | 49,378 | (12,629) | (77,560) |
| Equity raised | 126,329 | 99,836 | 124,532 | 100,154 |
| Investments | 628 | 3,587 | -- | (3,587) |
| Debt financing/disposal | 164,056 | 169,712 | 192,498 | 188,295 |
| Dividends paid | 2,135 | 400 | 1,068 | 1,539 |
| Other items | -- | -- | -- | -- |
| Net in cash | 355,461 | 322,912 | 305,469 | 208,842 |
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ConsolidatedStandalone
| Y/e 31 Mar ( In .Cr) | Mar-2019 | Mar-2018 | Mar-2017 | Mar-2016 |
|---|---|---|---|---|
| Equity capital | 1,943 | 1,935 | 1,962 | 1,946 |
| Preference capital | -- | -- | -- | -- |
| Reserves | 69,479 | 67,600 | 65,494 | 64,823 |
| Net worth | 71,422 | 69,534 | 67,456 | 66,769 |
| Minority interest | ||||
| Debt | 125,428 | 111,334 | 107,288 | 100,647 |
| Deferred tax liabilities (net) | 10,162 | 9,953 | 7,885 | 5,368 |
| Total liabilities | 220,538 | 199,635 | 189,504 | 178,282 |
| Fixed assets | 210,466 | 196,952 | 189,074 | 177,995 |
| Intangible assets | ||||
| Investments | 15,711 | 16,159 | 14,339 | 11,977 |
| Deferred tax asset (net) | 17,970 | 11,826 | 9,562 | 8,791 |
| Net working capital | (31,714) | (31,971) | (28,568) | (25,579) |
| Inventories | 88.40 | 69.30 | 48.80 | 169 |
| Inventory Days | -- | 0.30 | 0.19 | 0.64 |
| Sundry debtors | 4,301 | 5,883 | 4,740 | 5,504 |
| Debtor days | -- | 25.70 | 18.10 | 20.80 |
| Other current assets | 27,588 | 21,916 | 17,346 | 20,306 |
| Sundry creditors | (38,375) | (34,948) | (33,440) | (25,581) |
| Creditor days | -- | 152 | 128 | 96.70 |
| Other current liabilities | (25,316) | (24,892) | (17,264) | (25,978) |
| Cash | 8,106 | 6,671 | 5,098 | 5,099 |
| Total assets | 220,538 | 199,635 | 189,504 | 178,282 |
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ConsolidatedStandalone
| Particulars ( Rupees In Crores.) | Mar-2020 | Mar-2019 | Mar-2018 | Mar-2017 | Mar-2016 |
|---|---|---|---|---|---|
| Gross Sales | 87,539 | 80,780 | 82,639 | 95,468 | 96,532 |
| Excise Duty | -- | -- | -- | -- | -- |
| Net Sales | 87,539 | 80,780 | 82,639 | 95,468 | 96,532 |
| Other Operating Income | -- | -- | -- | -- | -- |
| Other Income | 977 | 3,631 | 1,310 | 1,166 | 3,328 |
| Total Income | 88,516 | 84,411 | 83,949 | 96,634 | 99,860 |
| Total Expenditure ** | 91,291 | 55,206 | 53,367 | 61,440 | 62,650 |
| PBIDT | (2,775) | 29,205 | 30,582 | 35,194 | 37,210 |
| Interest | 12,382 | 9,589 | 8,072 | 7,697 | 6,914 |
| PBDT | (15,157) | 19,616 | 22,510 | 27,496 | 30,296 |
| Depreciation | 27,690 | 21,348 | 19,243 | 19,773 | 17,450 |
| Minority Interest Before NP | -- | -- | -- | -- | -- |
| Tax | 2,374 | 1,939 | 1,823 | 2,124 | 4,469 |
| Deferred Tax | (14,556) | (5,358) | (740) | 1,358 | 1,484 |
| Reported Profit After Tax | (30,664) | 1,688 | 2,184 | 4,241 | 6,893 |
| Minority Interest After NP | 1,519 | 1,278 | 1,085 | 442 | -- |
| Net Profit after Minority Interest | (32,183) | 410 | 1,099 | 3,800 | 6,893 |
| Extra-ordinary Items | (38,005) | (351) | (351) | (642) | 1,167 |
| Adjusted Profit After Extra-ordinary item | 5,822 | 760 | 1,450 | 4,442 | 5,726 |
| EPS (Unit Curr.) | (63) | 0.96 | 2.75 | 9.51 | 15.20 |
| Book Value (Unit Curr.) | -- | -- | -- | -- | -- |
| Dividend (%) | 40 | -- | 107 | 20 | 27.20 |
| Equity | 2,728 | 1,999 | 1,999 | 1,999 | 1,999 |
| Public Shareholding (Number) | -- | -- | -- | -- | -- |
| Public Shareholding (%) | -- | -- | -- | -- | -- |
| Pledged/Encumbered - No. of Shares | -- | -- | -- | -- | -- |
| Pledged/Encumbered - % in Total Promoters Holding | -- | -- | -- | -- | -- |
| Pledged/Encumbered - % in Total Equity | -- | -- | -- | -- | -- |
| Non Encumbered - No. of Shares | -- | -- | -- | -- | -- |
| Non Encumbered - % in Total Promoters Holding | -- | -- | -- | -- | -- |
| Non Encumbered - % in Total Equity | -- | -- | -- | -- | -- |
| PBIDTM(%) | (3.20) | 36.20 | 37 | 36.90 | 38.50 |
| PBDTM(%) | (17) | 24.30 | 27.20 | 28.80 | 31.40 |
| PATM(%) | (35) | 2.09 | 2.64 | 4.44 | 7.14 |
