Buy Bharti Airtel, target price Rs 1039: Prabhudas Lilladher

Prabhudas Lilladher has buy call on Bharti Airtel with a target price of Rs 1039. The current market price of Bharti Airtel is Rs 816.5.

Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 481101.59 Crore) operating in Telecommunications sector.

Bharti Airtel key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 34728.70 Crore, up 5.25 % from last quarter Total Income of Rs 32996.80 Crore and up 22.13 % from last year same quarter Total Income of Rs 28435.20 Crore. Company has reported net profit after tax of Rs 2622.20 Crore in latest quarter.

The company’s top management includes Mr.Sunil Bharti Mittal, Mr.Shyamal Mukherjee, Mr.Dinesh Kumar Mittal, Ms.Kimsuka Narasimhan, Mr.V K Viswanathan, Ms.Nisaba Godrej, Mr.Manish Kejriwal, Ms.Chua Sock Koong, Mr.Tao Yih Arthur Lang, Mr.Rakesh Bharti Mittal, Mr.Gopal Vittal, Mr.Pradeep Kumar Sinha. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2022, the company has a total of 588 Crore shares outstanding.

Investment Rationale
Led by frequent tariff hikes and further increase in share of two dominant players with (Q2 ~78% revenue share given weak financials of competitors), the brokerage maintains its positive stance on the sector.

Promoter/FII Holdings
Promoters held 55.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.14 per cent, DIIs 14.63 per cent.