Bharti Airtel Ltd.

Financial

	Bharti Airtel	Vodafone Idea	Reliance Industries
Operational Metrics
Financial Services
Airtel Money - Monthly Transaction Value per Subscriber	292.0 $	n/a	n/a
Airtel Money - ARPU	2.1 $	n/a	n/a
Telecom Sector
Monthly Data Usage Per User	26.9 GB/User	16.3 GB/User	36.61 GB/User
Monthly Voice Minutes Per User	1143.0 Mins/User	590.0 Mins/User	997.12 Mins/User
No Of Broadband Subscribers	3070.7 Lakh	1275.7 Lakh	4970.6 Lakh
Average Revenue Per User (ARPU) - Broadband	537.0 Rs	n/a	n/a
No Of Mobile Subscribers - Africa	16.94 Crs	n/a	n/a
ARPU - Africa	2.4 $	n/a	n/a
Monthly Churn rate - Africa	4.2 %	n/a	n/a
Monthly Churn rate - India	2.7 %	n/a	n/a
Blended Churn	3.12 %	4.1 %	1.8 %
Average Revenue Per User (ARPU)	250.0 Rs	165.0 Rs	208.8 Rs
Net Rupee Retention	99.34 %	96.51 %	99.46 %
No Of Mobile Subscribers	39.15 Crs	20.39 Crs	47.7 Crs
No Of Data Subscribers	28.48 Crs	13.48 Crs	49.81 Crs
Financials
5 yr Average ROE	6.04 %	53.92 %	8.23 %
5yr average Equity Multiplier	5.14	-3.17	2.11
5yr Average Asset Turnover Ratio	0.34	0.21	0.47
5yr Avg Net Profit Margin	3.81 %	-76.87 %	8.36 %
Price to Book	10.52	0.0	2.26
P/E	33.84	0.0	23.37
5yr Avg Cash Conversion Cycle	-5727.99 Days	17.58 Days	-42.35 Days
Inventory Days	0.84 Days	0.04 Days	49.44 Days
Days Receivable	12.85 Days	17.57 Days	12.56 Days
Days Payable	4312.74 Days	0.0	106.64 Days
5yr Average Interest Coverage Ratio	1.6	-0.46	5.39
5yr Avg ROCE	12.05 %	-4.06 %	8.42 %
5yr Avg Operating Profit Margin	50.28 %	40.57 %	16.78 %
5 yr average Debt to Equity	1.9	-3.06	0.39
5yr CAGR Net Profit	n/a	-9.15 %	7.23 %
5yr Average Return on Assets	1.44 %	-16.23 %	3.89 %
Shareholdings
Promoter Holding	51.25 %	25.57 %	50.07 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-4.68 %	-49.42 %	-0.55 %
Change in Mutual Fund Holding (3 Yrs)	-1.05 %	2.62 %	3.68 %

Business

	Bharti Airtel	Vodafone Idea	Reliance Industries
Product Wise Break-Up	Product Wise Break-Up Mobile 71.5 Passive Infrastructure Services 14.65 Business 9.16 Home 3.11 Digital TV 1.38 PI (Passive Infrastructure) 0 ILD (International Long Distance) 0 Mobility 0 Oil to Chemicals 0 Financial Services 0 Media & Entertainment 0 Digital Services 0 Organized Retail 0 Oil and Gas 0 Petrochemicals 0 Refining 0 Others 0.2	Product Wise Break-Up Oil and Gas 0 Refining 0 Digital Services 0 ILD (International Long Distance) 0 Media & Entertainment 0 Petrochemicals 0 Mobility 100.0 Financial Services 0 Oil to Chemicals 0 Digital TV 0 Business 0 Organized Retail 0 Mobile 0 Home 0 Passive Infrastructure Services 0 PI (Passive Infrastructure) 0	Product Wise Break-Up Oil & Gas 2.0 Refining 0 Digital services 13.73 ILD (International Long Distance) 0 Media & Entertainment 0 Petrochemicals 0 Mobility 0 Financial Services 0 Oil to Chemicals 50.67 Digital TV 0 Business 0 Organized Retail 27.55 Mobile 0 Home 0 Passive Infrastructure Services 0 PI (Passive Infrastructure) 0 Others 6.05
Location Wise Break-Up	Location Wise Break-Up India 69.39 Africa 30.61 South Asia 0 Rest of the World 0	-	Location Wise Break-Up Rest of the World 35.91 South Asia 0 India 64.09 Africa 0
Operating Profit Break-Up	Operating Profit Break-Up Financial Services 0 Digital Services 0 Organised Retail 0 Petrochemicals 0 Refining 0 Oil & Gas 0 Oil to Chemicals 0 Others 100	-	Operating Profit Break-Up Refining 0 Digital services 39.14 Petrochemicals 0 Organized Retail 13.64 Financial Services 0 Oil to Chemicals 31.01 Oil & Gas 10.68 Others 5.53
Asset Break-Up	Asset Break-Up India 0 Others 100	-	Asset Break-Up India 97.66 Others 2.34

Bharti Airtel Ltd.

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