State-owned fixed-line & mobile operator serving only Delhi and Mumbai; BSNL now runs its network under a 2025 pact.
Price
Market Cap
Sector
Telecommunication
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 630 | 630 | 630 | 630 | 630 | 630 | 630 | 630 |
| Reserves | -14.2k | -16.7k | -19.3k | -21.5k | -24.3k | -27.5k | -29.4k | -30.6k |
| Borrowings | 23.3k | 25.6k | 26.8k | 28.4k | 30.1k | 32.4k | 34.1k | 35.4k |
| Other Liabilities | 7.0k | 3.8k | 4.2k | 4.2k | 4.2k | 4.7k | 4.3k | 4.6k |
| Total Liabilities | 16.7k | 13.4k | 12.3k | 11.7k | 10.7k | 10.3k | 9.5k | 10.1k |
| AssetsFixed Assets | 6.9k | 6.3k | 5.6k | 5.0k | 4.3k | 3.8k | 3.5k | 3.1k |
| CWIP | 328 | 184 | 74 | 59 | 86 | 32 | 24 | 13 |
| Investments | 4 | 3 | 3 | 3 | 4 | 4 | 5 | 5 |
| Other Assets | 9.5k | 7.0k | 6.6k | 6.6k | 6.3k | 6.4k | 6.1k | 6.9k |
| Total Assets | 16.7k | 13.4k | 12.3k | 11.7k | 10.7k | 10.3k | 9.5k | 10.1k |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -733 | -1.2k | -225 | 704 | 64 | 130 | 340 | 176 |
| Cash from Investing | -297 | -43 | -259 | 204 | -174 | 107 | -29 | -201 |
| Cash from Financing | 1.0k | 1.3k | 414 | -936 | 177 | -319 | -215 | -19 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -1.0k | -1.3k | -324 | 691 | 20 | 57 | 304 | 570 |
| FCF Margin | — | — | — | — | — | — | — | — |
For capital-heavy businesses (telecom, power, heavy manufacturing) reported profit ignores the cash needed just to stand still. We'd systematically overvalue it, so we don't show a number.
MTNL · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.