IDEA
Vodafone Idea share price & financials
- Price
- ₹14.92
- Market cap
- ₹1.5L Cr
- Sector
- Telecommunication
- Calls analysed
- 6
Vodafone Idea Limited Q1 FY27
What went well
- Revenue of ₹11,689 Crore, up 6.0% YoY.
- Cash EBITDA of ₹2,475 Crore, up 13.5% YoY.
- Net subscriber additions turned positive for the first time since merger.
What to watch
- Geopolitical headwinds impaired capex deployment in Q1FY27, resulting in a muted spend of ₹1,930 Crore.
- Supply side issues contributed to the muted capex investment.
What Vodafone Idea Limited does
Vodafone Idea (Vi) is a major mobile telecommunications operator in India, offering voice, data and value-added services to consumers and business connectivity services including IoT, cloud and managed services to enterprises. It earns primarily from prepaid and postpaid mobile subscriptions and data usage across the country. The company is backed by promoters the Aditya Birla Group and the Vodafone Group, with the Government of India holding a 49% stake following the conversion of spectrum dues into equity.
Segments
- Consumer Mobility
- Business Services
- Total subscribers
- 192.8 million (Q4 FY26)
- 4G/5G subscribers
- 128.9 million
- 4G population coverage
- Over 1.1 billion people
- 5G footprint
- Live in 80+ cities across all 17 circles where it holds 5G spectrum
- Broadband towers added
- ~30,000 unique towers over the last six quarters
- Market position
- Leading revenue market share in Mumbai and Kerala service areas
Guidance record · Q1 FY27
what the last two calls moved 20 tracked 5 delivered 1 missed 14 open- FY25 Capex delivered, diluted said Q3 FY25 Promised: around Rs. 100 billion Q1 FY27: Promise fulfilled in a prior period.
- EBITDA Growth (3-Year) diluted said Q4 FY26 Promised: 3x in the next three years Q1 FY27: Management clarified the target is '3x of the cash EBITDA', a significant reduction from the implied target of 3x total EBITDA.
- 4G Population Coverage (Ultimate) on track said Q3 FY25 Promised: 1.2 billion (~90% population coverage) Q1 FY27: Pan-India 4G coverage expanded to 87.0%. Management intends to finish 4G rollout over the next 18 months.
All 20 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 5.8%, net profit up 44.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10,841 | 11,024 | 10,880 | 10,906 | 11,068 +2% | 11,214 +2% | 11,197 +3% | 11,539 +6% |
| EBITDA | 4,351 | 4,553 | 4,420 | 4,355 | 4,457 +2% | 4,602 +1% | 4,653 +5% | 4,808 +10% |
| Net profit | -7,210 | -6,493 | -7,268 | -6,633 | -5,584 +23% | -5,324 +18% | 52,022 +816% | -3,712 +44% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +104.5% 1Y
1Y: ₹7.32 on 10 Sept 2025 → ₹14.97. High ₹15.6 (7 Sept 2026), low ₹7.32 (10 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- −0.2%
- 11 Aug
- Q4 FY26
- −0.7%
- 18 May
- Q2 FY26
- +7.8%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 1.7% a year over 3 years, FY23 to FY26. Operating margin widened to 40.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹42.2k Cr | ₹42.3k Cr | ₹43.2k Cr | ₹44.4k Cr |
| Operating profit | ₹16.8k Cr | ₹16.5k Cr | ₹17.3k Cr | ₹18.1k Cr |
| Operating margin | 39.9% | 39.0% | 40.2% | 40.7% |
| Interest | ₹23.4k Cr | ₹25.8k Cr | ₹24.5k Cr | ₹21.3k Cr |
| Depreciation | ₹23.1k Cr | ₹22.0k Cr | ₹21.4k Cr | ₹21.5k Cr |
| Net profit | ₹-29.3k Cr | ₹-31.2k Cr | ₹-27.4k Cr | ₹34.5k Cr |
| Net margin | -69.5% | -73.8% | -63.6% | 77.7% |
| Cash from operations | ₹18.4k Cr | ₹20.2k Cr | ₹8.4k Cr | ₹18.5k Cr |
| Free cash flow | ₹13.0k Cr | ₹18.8k Cr | ₹-1.5k Cr | ₹8.3k Cr |
| ROCE | -4.0% | -4.0% | -2.0% | -2.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹28.7k Cr | ₹32.1k Cr | ₹48.7k Cr | ₹50.1k Cr | ₹108.3k Cr | ₹108.3k Cr |
| Reserves | ₹-66.4k Cr | ₹-93.6k Cr | ₹-122.5k Cr | ₹-153.8k Cr | ₹-190.8k Cr | ₹-143.7k Cr |
| Borrowings | ₹180.4k Cr | ₹213.9k Cr | ₹238.0k Cr | ₹244.0k Cr | ₹233.2k Cr | ₹189.3k Cr |
| Other liabilities | ₹60.5k Cr | ₹41.5k Cr | ₹43.1k Cr | ₹44.6k Cr | ₹37.8k Cr | ₹33.8k Cr |
| Total liabilities | ₹203.1k Cr | ₹193.9k Cr | ₹207.3k Cr | ₹185.0k Cr | ₹188.5k Cr | ₹187.7k Cr |
| Fixed assets | ₹162.2k Cr | ₹152.0k Cr | ₹152.0k Cr | ₹136.4k Cr | ₹156.3k Cr | ₹139.7k Cr |
| Capital work in progress | ₹541 Cr | ₹326 Cr | ₹17.8k Cr | ₹18.0k Cr | ₹946 Cr | ₹15.0k Cr |
| Investments | ₹288 Cr | ₹288 Cr | ₹163 Cr | ₹163 Cr | ₹226 Cr | ₹269 Cr |
| Other assets | ₹40.1k Cr | ₹41.3k Cr | ₹37.3k Cr | ₹30.4k Cr | ₹31.1k Cr | ₹32.8k Cr |
| Total assets | ₹203.1k Cr | ₹193.9k Cr | ₹207.3k Cr | ₹185.0k Cr | ₹188.5k Cr | ₹187.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −2.17 pp while DIIs added +1.91 pp. The shareholder count shrank 6% to 58,09,457.
- Promoters
- 25.6%
- FIIs
- 6.2%
- DIIs
- 6.0%
- Government
- 49.0%
- Public
- 13.1%
Since Jun 2025
- Public −2.17 pp
- DIIs +1.91 pp
- FIIs +0.19 pp
How it drifted, 12 quarters
Over this window promoters fell from 50.4% to 25.6% — −24.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 50.4%, FIIs 2.5%, DIIs 1.8%, Government 33.2%, Public 12.2%.Dec '23: Promoters 50.4%, FIIs 2.3%, DIIs 3.0%, Government 33.2%, Public 11.1%.Mar '24: Promoters 48.9%, FIIs 2.0%, DIIs 2.2%, Government 32.2%, Public 14.7%.Jun '24: Promoters 38.2%, FIIs 12.7%, DIIs 7.4%, Government 23.8%, Public 17.9%.Sep '24: Promoters 37.3%, FIIs 12.7%, DIIs 4.9%, Government 23.2%, Public 21.9%.Dec '24: Promoters 37.3%, FIIs 10.2%, DIIs 4.3%, Government 23.2%, Public 25.1%.Mar '25: Promoters 38.8%, FIIs 10.1%, DIIs 4.9%, Government 22.6%, Public 23.6%.Jun '25: Promoters 25.6%, FIIs 6.0%, DIIs 4.1%, Government 49.0%, Public 15.3%.Sep '25: Promoters 25.6%, FIIs 6.0%, DIIs 4.7%, Government 49.0%, Public 14.7%.Dec '25: Promoters 25.6%, FIIs 6.0%, DIIs 5.6%, Government 49.0%, Public 13.8%.Mar '26: Promoters 25.6%, FIIs 5.6%, DIIs 6.2%, Government 49.0%, Public 13.6%.Jun '26: Promoters 25.6%, FIIs 6.2%, DIIs 6.0%, Government 49.0%, Public 13.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Suryaja Investments Pte. Ltd. newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Vodafone Idea Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Department of Investment and Public Asset Management | 49.00% | unchanged |
| Euro Pacific Securities Ltd | 5.16% | unchanged |
| Oriana Investments Pte Ltd | 4.05% | unchanged |
| Grasim Industries Ltd | 3.06% | unchanged |
| Prime Metals Ltd | 2.54% | unchanged |
| Mobilvest | 1.55% | unchanged |
| Vodafone Telecommunications (India) Limited | 1.50% | unchanged |
| Trans Crystal Ltd. | 1.35% | unchanged |
| Omega Telecom Holdings Private Limited | 1.26% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Nifty Midcap 150 Momentum 50 Index Fund Mutual fund | 1.04% | unchanged |
| Asian Telecommunications Investments (Mauritius) Limited | 0.90% | unchanged |
| Elaine Investments Pte Ltd | 0.79% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in IDEA
Filings to Aug 2026
0 new, 10 added, 2 trimmed, 0 sold out — net +842.96 L shares (+10.5%).
- Held by funds
- ₹1.2k Cr
- 14 schemes
- Biggest holder
- SBI Arbitrage Fund
- ₹595 Cr · 1.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Arbitrage Fund SBI Mutual Fund | ₹595 Cr | +151.53 L | Jan '22 |
| Nippon India Arbitrage Fund Nippon India Mutual Fund | ₹255 Cr | +42.17 L | Nov '20 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹151 Cr | +603.25 L | Nov '23 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹70 Cr | held | Apr '24 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹58 Cr | held | Apr '24 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹38 Cr | +15.57 L | Jun '20 |
| Nippon India Nifty 500 Momentum 50 Index Fund Nippon India Mutual Fund | ₹26 Cr | +2.72 L | Jun '26 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹26 Cr | +3.38 L | Feb '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
10 added, 2 trimmed — net +8.43 cr shares (+10.5%)
- Funds are sitting on
- +40%
- vs est. average cost
- Held by funds
- ₹1.2k Cr
- 14 schemes · ≈ 0.86% of the company
- Biggest holder
- SBI Arbitrage Fund
- ₹595 Cr · 1.3% of that fund
- Longest holder
- Nippon India ETF Nifty Midcap 150
- 6y 3m · since Jun '20
Shares held by these funds +774%
Aug '23 86.06 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Vodafone Idea Limited
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