Bharti Airtel enterprise value

Share price at each year-end

Tap a line for its trend	Currentlast 12M	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus


12,01,719	—	—	—	—	FY22 and earlierEvery year the company has filed comes with Alpha Plus.
27,423	27,423	7,759	7,185	11,884
46,907	46,907	39,796	23,545	28,881
1,21,671	1,21,671	1,48,312	1,51,917	1,65,545
13,42,874	—	—	—	—
94,249	94,249	1,40,554	1,44,732	1,53,661
₹2,203.75	—	—	—	—

3,17,635	3,17,635	3,01,780	2,57,480	2,71,989
38.3%	38.3%	49.1%	59.0%	60.9%
0.09×	—	—	—	—

6.10×	—	—	—	—
10.73×	—	—	—	—
19.01×	—	—	—	—
17.99×	—	—	—	—
2,20,049	2,10,973	1,72,985	1,49,982	1,39,145
1,25,139	1,19,675	93,159	78,292	71,274
70,658	66,964	47,589	38,754	34,842
—	1,22,230	98,332	78,898	65,325
74,661	74,661	37,304	26,692	26,418
—	70,890	36,840	20,894	24,609
—	47,569	61,029	52,206	38,907

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

BHARTIARTL₹1,972.10

Bharti Airtel Ltd.

· Telecom & Media

₹ CrorePeersRELIANCE IDEA TATACOMM INDUSTOWER BHARTIHEXA ITI HFCL RAILTELMcap ₹12.02L Cr

HighlightsEnterprise Value Multiples Per ShareAnnuals · FY-end closes

In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Current/LTM TTM · last close
Market Capitalization	—	—	—	—	12,01,718.9
- Cash, Equiv & ST Investments	11,883.9	7,185.0	7,758.8	27,422.8	27,422.8
+ Minority Interest	28,881.4	23,545.1	39,795.8	46,906.8	46,906.8
+ Total Debt	1,65,544.8	1,51,916.5	1,48,312.3	1,21,671.4	1,21,671.4
Enterprise Value	—	—	—	—	13,42,874.3
Net Debt (memo)	1,53,660.9	1,44,731.5	1,40,553.5	94,248.6	94,248.6
EV per Share	—	—	—	—	2,203.75

Total Capital	2,71,989.1	2,57,480.4	3,01,780.0	3,17,634.8	3,17,634.8
Total Debt/Total Capital	60.86	59.00	49.15	38.31	38.31
Total Debt/EV	—	—	—	—	0.09

EV/Sales	—	—	—	—	6.10
EV/EBITDA	—	—	—	—	10.73
EV/EBIT	—	—	—	—	19.01
EV/Free Cash Flow	—	—	—	—	17.99
Reference Items — Trailing FY Values
Sales	1,39,144.8	1,49,982.4	1,72,985.2	2,10,972.8	2,20,049.3
EBITDA	71,273.5	78,291.8	93,159.2	1,19,674.5	1,25,138.6
EBIT	34,841.7	38,754.2	47,588.9	66,963.7	70,657.9
Operating Cash Flow	65,324.6	78,898.2	98,332.2	1,22,229.6	—
Free Cash Flow	26,417.7	26,692.0	37,303.6	74,660.8	74,660.8
FCFF (free cash flow to the firm)	24,609.5	20,894.1	36,839.7	70,889.8	—
Capital Expenditure	38,906.9	52,206.2	61,028.6	47,568.8	—

Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 193%.