Vodafone Idea Earnings Call Transcript: Key Takeaways

Highlights
Revenue growth	6.0% YoY
Margins	EBITDA margin improved 130 bps YoY to 43.1%.
Order book	Placed capex orders worth ₹9,000 Cr with Ericsson, Nokia, Samsung.
Demand visibility	Strong traction in 4G/5G upgrades and M2M verticals.
Management confidence	High; citing positive trends in all 7 critical business parameters.

Growth

Revenue grew 6.0% YoY; Cash EBITDA increased 13.5% YoY to ₹2,475 Cr. ARPU improved 10.2% YoY to ₹195.

Guided ₹45,000 Cr capex over 3 years. Targeting 3x cash EBITDA growth by FY29 with 16.8% CAGR.

Geopolitical headwinds and supply chain constraints impaired capex deployment; elevated net debt and competitive intensity remain concerns.

Guided 3-year capex plan of ₹45,000 Cr → delivered ₹9,000 Cr initial orders (= BEAT)
Targeted positive net subscriber addition → delivered first positive net adds since merger (= BEAT)
Guided focus on 4G/5G mix (66.9% in Q4) → delivered 67.4% in Q1 (= BEAT)

Guided 5G rollout in 80+ cities → delivered 5G rollout expansion toward 200+ cities (= PARTIAL)

Guided bank debt reduction to ₹726 Cr → delivered ₹211 Cr (Note: Result is positive, but capex deployment was impaired by supply chain) (= MISS)

Source

Earnings Call Transcript filed with BSE, NSE: IDEA. Summary written with AI assistance from the document.

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.