Bharti Airtel Ltd — Q4 FY26
Bharti Airtel reported a strong Q4 FY26 with consolidated revenue of ₹55,400 crore, up 2.6% sequentially.
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
29%Questions answered4Evaded / deflected7Questions audited
Partial answer
High priority
Why did Hexacom grow slower than Airtel this quarter?
Asked by Sanjesh Jain
Acknowledged gap but attributed to known factors without explaining the quarter's underperformance.
no specific reason for slower growthno quantitative outlook
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Question
On revenue we were 8.3%, Airtel was close to 12% on an EBITDA. We were 15%, Airtel was 17% on it. I thought we had a lever to grow faster than Airtel... What changed in this quarter, how should we see it for the next coming year?
Soumen Ray, Group CFO
I think our impression that Hexacom is under-penetrated... has borne out well. The ARPU gap is much closer. We have been able to close the ARPU gap. As I had told earlier also, the post-paid penetration bit and the IR bit will be a little differential.
Partial answer
Medium priority
Will Hexacom have a higher payout ratio?
Asked by Sanjesh Jain
Confirmed progressive payout but avoided quantifying 'sharper' ratio.
no specific payout ratio targetno timeline
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Question
Hexacom largely restrict itself to mobile and FTTH, where it is fully funded. Should we see a much sharper payout ratio in Hexacom in the coming years?
Soumen Ray, Group CFO
We have increased the dividend payout significantly, and we have been committed that we will be looking at a progressively increasing dividend payout, and we continue to remain on that.
Evasive
Medium priority
Will FWA growth decelerate due to chip issues?
Asked by Sanjesh Jain
Avoided answering whether growth will decelerate; instead emphasized commitment to growth.
did not confirm or deny decelerationno quantitative impact
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Question
On the FWA considering the all the issues around chips... do you see home growth can slightly decelerate until this entire chip situation get resolved for Hexacom?
Soumen Ray, Group CFO
I do not think that whilst prices will go up and we will pivot to fiber wherever we can, we are going to give up on the opportunity of acquiring more homes and offices through either FWA or fiber in Bharti Hexacom.
Answered
High priority
Why did ARPU not grow despite strong subscriber additions?
Asked by Pranav Kshatriya
Identified specific additional factor (5G packs) impacting ARPU.
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Question
We had a fairly good growth in the post subscriber base as well as post-pay addition. However, ARPU growth has not happened. You partly explained... Is that the only factor which impacted the ARPU in this quarter, or there is something else?
Soumen Ray, Group CFO
There is something else which is played out, which is the whole, you know, eat as much as you can on 5G packs. That is, the more adoption happens, that will clearly create a headwind.
Evasive
Medium priority
Will home subscriber addition pace continue?
Asked by Pranav Kshatriya
Declined to provide any forward-looking view on subscriber addition pace.
refused to give guidanceno commitment on pace
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Question
There has been a good action in the homes, subscriber addition. Should we expect, you know, the pace of addition to continue, or, you know, there could be some headwind?
Soumen Ray, Group CFO
I cannot give you forward-looking statements. We don't give guidance. See, the objective is to continue to grow. As of now, there is no reason for me in a earnings call to flag off that there is a concern.
Evasive
High priority
What is the regulatory charge this quarter?
Asked by Vivekanand Subbaraman, Ambit
Did not specify the nature or amount of the regulatory charge.
no specific detailsvague explanation
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Question
What does the regulatory charge this quarter pertain to? Is there any new demand from the government, which has affected you this quarter? If you could clarify on this, it'd be great.
Soumen Ray, Group CFO
We have felt that there is something that we should, in a prudence, take a provision for, which has been disclosed. There is nothing new, exceptional or unearthly which has come.
Evasive
Medium priority
Was the regulatory charge previously a contingent liability?
Asked by Vivekanand Subbaraman, Ambit
Avoided confirming whether it was previously a contingent liability.
refused to confirm or denyno details
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Question
This charge was earlier perhaps part of contingent liabilities and has now been provided for. Is that how one should think about it since you are saying that there is no new demand?
Soumen Ray, Group CFO
I'll not get into specific details, but it is not a new thing. It was an existing thing. The interpretation of that existing thing has been changed, and accordingly it has been provided for.