9 companies · ₹14.4 L cr · 4 with AI deep dives · Q2FY27 report
Telco ARPU premiumisation holds, but Vi funding and China-linked hardware costs now set the tower rollout pace
P/E below the sub-industry median of 43.01x, 5y ROCE above its median of 14.09%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
Diwali open house: sign in free and Premium is open to you until 8 Nov.See plans →Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
Vi (Rs.195, +10.2% YoY, 20 straight quarters of growth), Airtel (Rs.264) and Hexacom (Rs.259) all credit ARPU gains to 4G/5G upgrades, more postpaid users and consumption tiers…
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →Sept 26: 2 of 6 reported so far, so it is not in the trend above.
Breadth: 100% of 6 companies grew revenue year on year (was 83% a quarter earlier) and 83% expanded margin (was 100%).
The median name trades at 43.0x, +10.1% against this industry's own 5-year median of 39.0x, and -13.6% against its own peak of 49.8x.
Bharti Airtel Ltd is 81.9% of this industry by market cap. The top 5 are 99.9% and the top 10 are 100%.
| 3.5x |
| 3.6x |
| -1.7% |
| 42.4% |
| +6.0% |
| Unlock |
| Bharti Hexacom Ltd | ₹82,075 cr | 44.6x | 16.7x | 22.7% | 52.3% | +10.9% | Unlock |
| Tata Communications Ltd | ₹49,203 cr | 43.4x | 11.9x | 15.2% | 19.4% | +9.6% | Unlock |
| Tata Teleservices (Maharashtra) Ltd | ₹8,084 cr | 27.2x | 22.3x | 58.8% | 53.9% | +8.2% | Unlock |
| Mahanagar Telephone Nigam Ltd | ₹1,453 cr | - | 83.2x | -2.2% | -14.8% | +229.9% | Unlock |
| Reliance Communications Ltd | ₹235 cr | - | -141.6x | - | -59.9% | -10.8% | Unlock |
| Quadrant Televentures Ltd | ₹42 cr | - | 66.7x | - | 16.2% | -7.4% | Unlock |
| City Online Services Ltd | ₹5 cr | - | 120.3x | -92.4% | -4.7% | +2.5% | Unlock |