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Bharti Hexacom Ltd

₹ 1,8080.31%
05 Jan – close price
🔗bhartihexacom.in•BSE: 544162•NSE: BHARTIHEXA
Market Cap₹ 90,385 Cr.
Current Price₹ 1,808
High / Low₹ 2,053
Stock P/E56.3
Book Value₹ 125
Dividend Yield0.55 %
ROCE17.4 %
ROE25.2 %
Face Value₹ 5.00
Sales₹ 9,120 Cr.
OPM51.4 %
Mar Cap₹ 90,385 Cr.

ABOUT

IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed-line telephone and broadband services in Rajasthan and Northeast telecom circles[1]

KEY POINTS

Business Overview:[1][2]BHL provides mobile telephony services in Rajasthan and Northeast circles in terms of Unified License (with Access Service Authorization) granted by the Department of Telecommunications, and Government of India. Company also provides fixed line and broadband services in Rajasthan. BHL is the 2nd-largest wireless mobile operator in these two circles, with a market share of37.6%by subscribers in May 2024

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsCapacity Expansion And ProductsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Bharti Airtel2105.0039.341266619.210.768650.8065.1152145.4025.7313.48194613.5056.0132200.306791.7010.195.351.77
2.Vodafone Idea11.43–123836.090.00-5524.2022.4911194.702.40-1.9344348.0042.10-25945.30-5561.80–-14.36–
3.Bharti Hexacom1807.7056.3290385.000.55421.2066.422317.3010.4717.449120.0051.411604.91421.2014.477.041.06
4.Tata Comm1803.0051.4951385.501.39183.21-18.246099.756.4914.7923848.0219.35998.02193.8718.045.224.68
5.Tata Tele. Mah.49.47–9671.030.00-320.822.90286.13-16.7050.321211.4248.68-1263.53-320.82–-98.17–
6.M T N L36.62–2307.060.00-960.20-7.85189.76-28.83-6.76688.90-65.41-3567.30-960.20–-31.75–
7.Reliance Communi1.10–304.210.00-2701.00-174.1987.00-1.14–344.00-24.71-213.61-85.00–-25.62–
–Median: 7 Co.49.4751.4951385.50.0-320.822.92317.32.414.139120.042.1-213.61-85.014.47-14.361.77

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
1,6801,8012,2511,6821,9112,2631,7321,8682,2891,6091,7382,0982,317
Expenses
9569731,0998521,0351,1029629901,1219609131,0961,109
Operating Profit
7238281,1528308761,1617708781,1686498261,0021,208
Other Income
4062-61803584844494830-2464961
Profit before tax
203288379342577527270301513133-8340564
Tax %
25%26%31%26%11%26%25%26%9%25%2,322%25%25%
Net Profit
15221326125351139220222346899-184253421
EPS in Rs
6.084.255.2210.1310.227.838.084.459.373.97-7.365.068.42

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
3,6143,8744,6025,4056,5797,0898,5489,120
Expenses
3,7023,3763,5503,5913,7933,7284,3514,432
Operating Profit
-894991,0521,8142,7863,3614,1974,688
Other Income
222-2,158-2402,040140-5439496
Interest
248526517572639644688656
Depreciation
1,0091,2501,2851,4411,5531,7392,0942,144
Profit before tax
-1,123-3,435-9891,8417349231,8091,983
Net Profit
-722-2,716-1,0341,6755495041,4941,542
EPS in Rs
-28.88-108.66-41.3666.9821.9710.0929.8730.84
Dividend Payout %
0%0%0%0%14%40%33%–

Compounded Profit Growth

10 Years:%
5 Years:35%
3 Years:143%
TTM:71%

Compounded Sales Growth

10 Years:%
5 Years:17%
3 Years:17%
TTM:19%

Return on Equity

10 Years:%
5 Years:9%
3 Years:18%
Last Year:25%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:%
1 Year:20%

Balance Sheet

Standalone figures in ₹ crores

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
250250250250250250250250
Reserves
5,5182,7701,7363,4103,9604,3895,6825,995
Borrowings
2,9415,1917,7749,0689,2048,1057,3536,607
Other Liabilities
2,6327,2245,2443,9454,8405,7745,9666,122
Total Liabilities
11,34115,43515,00416,67418,25318,51719,25118,974
Fixed Assets
9,2269,87410,30410,23411,17413,61514,73314,354
Gross Block
14,87216,19017,59018,74820,57123,40225,623–
Accumulated Depreciation
5,6466,3167,2868,5149,3979,78710,890–
CWIP
16211071641,936444297262
Investments
06250491,04623874287
Other Assets
1,9524,8254,6296,3284,0974,2204,1474,071
Total Assets
11,34115,43515,00416,67418,25318,51719,25118,974

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
493-3161,5171,2585,1083,5464,583
Cash from Investing Activity
-1,166-1,076-882-1,382-2,031-1,155-2,341
Cash from Financing Activity
5601,864-604183-3,111-2,404-2,265
Net Cash Flow
-1144733059-34-13-23

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
1022111428235
Inventory Days
–––––––
Days Payable
–––––––
Cash Conversion Cycle
1022111428235
Working Capital Days
-135-317-438-157-243-281-215
ROCE %
–-9%-1%4%10%14%17%

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
70.00%70.00%70.00%70.00%70.00%70.00%
FIIs
4.54%5.06%5.02%4.33%4.33%3.94%
DIIs
9.14%8.88%9.28%9.97%9.81%10.24%
Public
16.30%16.05%15.71%15.71%15.86%15.83%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Bharti Hexacom fined Rs. 2.64 lakh by DoT for subscriber verification violation

28th March 2026, 6:59 pm

Bharti Hexacom Announces Trading Window Closure from April 1 for Financial Results

26th March 2026, 11:12 pm

Bharti Hexacom to Participate in Investor Meetings in March 2026

13th March 2026, 12:01 am

Bharti Hexacom Appoints S.R. Batliboi & Associates as New Statutory Auditors

10th March 2026, 10:29 pm

Bharti Hexacom Limited to Participate in Investor Meetings Organized by ICICI Securities and Kotak

19th February 2026, 12:46 am

Published by Other Websites

External media mentions & references

Bharti Airtel Fuels AI Data Center Growth with $1B Nxtra Funding

2nd April 2026, 8:20 pm

Bharti Hexacom Upgraded by CLSA, But Stock Faces 7% Drop Risk

19th March 2026, 11:52 am

Bharti Hexacom: Jefferies Sees 69% Upside Amid Tariff Hike Hopes

18th March 2026, 10:23 am

Jefferies Cuts Bharti Hexacom Target Price, Still Sees 60% Upside

18th March 2026, 9:33 am

Airtel's Bullish Outlook: Diversification Amidst Sector Growth

2nd March 2026, 12:32 pm

News Articles

Editorial & research coverage

Bharti Hexacom: Gains Amidst Market Noise, Bears Growl
Bharti Hexacom: Gains Amidst Market Noise, Bears Growl

29th January 2026, 1:25 pm

Nifty 500 Stocks Signal Bearish Trend: Multiple Companies Face 'Death Cross' Amidst Market Volatility
Nifty 500 Stocks Signal Bearish Trend: Multiple Companies Face 'Death Cross' Amidst Market Volatility

22nd January 2026, 1:24 pm

Low-Priced Stocks Surge to Upper Circuit as Markets Dip
Low-Priced Stocks Surge to Upper Circuit as Markets Dip

21st January 2026, 4:21 pm

Indian Markets Slip Second Day; Infosys Misses Profit Despite Guidance
Indian Markets Slip Second Day; Infosys Misses Profit Despite Guidance

16th January 2026, 6:59 am

Smallcaps Tumble Amid Broader Market Slump; Trade Hopes Spark Partial Recovery
Smallcaps Tumble Amid Broader Market Slump; Trade Hopes Spark Partial Recovery

12th January 2026, 2:37 pm

Documents

Announcements

Closure of Trading Window

26 Dec - Trading window closed from Jan 1, 2026 for quarter ended Dec 31, 2025; opens 48 hours after results.

Disclosure Under Regulation 30 Of SEBI (LODR), Regulations, 2015

22 Dec - DoT NE LSA issued Rs.2,92,000 penalty notice on Dec 22, 2025 for alleged CAF subscriber verification violation.

Announcement under Regulation 30 (LODR)-Change in Management

18 Dec - Akhil Garg resigns CFO effective Dec 31, 2025; Karthikeyan Velu appointed CFO effective Jan 1, 2026.

Announcement under Regulation 30 (LODR)-Change in Management

18 Dec - CFO Akhil Garg resigns effective Dec 31, 2025; Kathikeyan Velu appointed CFO effective Jan 1, 2026.

Board Meeting Outcome for Disclosure Under Regulation 30 Of SEBI (Listing Regulations And Disclosure Requirements) Regulations, 2015 ('Listing Regulations') - Change In Key Managerial Personnel

18 Dec - CFO Akhil Garg resigns effective Dec 31, 2025; Kathikeyan Velu appointed CFO w.e.f. Jan 1, 2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Credit Ratings

Rating update

24 Jul 2025 from fitch

Rating update

17 Jul 2025 from crisil

Rating update

25 Jul 2024 from fitch

Rating update

22 Jul 2024 from crisil

Rating update

3 Jun 2024 from crisil

Rating update

28 Mar 2024 from crisil

Concalls

Nov 2025

Transcript

Aug 2025

Transcript

May 2025

Transcript

Feb 2025

Transcript

Nov 2024

Transcript

Aug 2024

Transcript

May 2024

Transcript

Stock Analysis

Description

  1. Bharti Hexacom Ltd provides consumer mobile services, fixed-line telephone and broadband services in Rajasthan and Northeast telecom circles.

Key Growth Triggers

  1. Revenue growth supported by mobile ARPU increase and strong growth in homes services. Strategic expansion and customer acquisition are key drivers.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Stock trading at a high price-to-book value.
  2. The company has faced penalty notices from the Department of Telecommunications for alleged subscriber verification norm violations.

Key Dates To Watch

  1. January 1, 2026: Closure of trading window for Q3 FY26 results. The window will reopen 48 hours after results declaration.

Corporate Announcements

28th Mar 26
Impact Rating: 6
Bharti Hexacom Limited received a notice from the Department of Telecommunications (DoT) imposing a penalty of Rs. 264,000 for alleged violations related to subscriber verification norms discovered during a Customer Application Form audit.
26th Mar 26
Impact Rating: 5
Bharti Hexacom Limited has announced the closure of its trading window starting April 1, 2026. This is to allow for the finalization of financial results for the quarter and fiscal year ending March 31, 2026.
12th Mar 26
Impact Rating: 6
Bharti Hexacom Limited will engage with analysts and institutional investors at the Jefferies Asia Forum in Hong Kong (March 17-18) and a meeting organised by Elara Capital in Gurugram (March 19).
10th Mar 26
Impact Rating: 4
Bharti Hexacom Limited announced the appointment of S.R. Batliboi & Associates LLP as its new statutory auditors. This change will take effect from the conclusion of the 32nd Annual General Meeting in 2027.
18th Feb 26
Impact Rating: 4
Bharti Hexacom Limited will engage with analysts and institutional investors in Mumbai on February 23-24, 2026.