Dekho, yeh AGR dues ka mamla Airtel ke liye kaafi time se chal raha hai. Unke upar lagbhag ₹42,000 crore ke AGR dues hain.
Ab DoT ne jo kaha hai, usse Airtel ka kaam mushkil ho gaya hai. Woh Vodafone Idea ki tarah automatically kisi relief package ka faayda nahi utha sakte. Vodafone Idea ko ek specific court order mila tha, jiske basis par woh apne debt ko restructure kar rahe hain. Par Airtel ko apna alag Supreme Court order lana padega, jo ek badi hurdle hai.
Is situation ka seedha asar Airtel ke future plans par padega. Company ko network upgrades aur 5G mein invest karna hai, lekin yeh dues usme baadha ban sakte hain. Aur market ne bhi is news par reaction diya hai. Aaj dopahar tak Airtel ka share 0.5% gir gaya tha aur ₹1,826.5 par trade kar raha tha. Saal dar saal dekhein toh stock 13.4% neeche hai. Company ki market cap abhi ₹579,570 crore ke aas paas hai, aur P/E ratio 38.4x chal raha hai.
Competition ki baat karein toh Reliance Jio privately held hai aur unka structure alag hai. Vodafone Idea bhi dues se burden hai, par unko court se thoda support mila hai, jo Airtel ko abhi nahi mila. Telecom sector mein waise bhi bohat zyada capital expenditure (CAPEX) lagta hai spectrum aur competition ke liye. Yeh AGR liability ek bada financial drag banta ja raha hai. Analysts ka kehna hai ki agar yeh dues theek se resolve nahi hue toh margins par pressure aa sakta hai, haalanki kuch log stock ko oversold bhi maan rahe hain.
Toh ab Airtel ke liye raasta ek hi hai - unko khud Supreme Court mein jaakar alag se relief ke liye apply karna padega. Management kaise is complex legal process ko handle karti hai, yeh dekhna hoga. Telecom sector mein pehle bhi aise regulatory liabilities ki wajah se badi financial problems aayi hain, toh yeh ek cautionary tale hai. Investors ab company ke next update ka wait kar rahe hain ki woh is situation ko kaise tackle karenge aur unke future plans kya hain.