Overweight on Bharti Airtel, target price Rs 1,900: Axis Securities

Axis Securities has an overweight call on Bharti Airtel with a target price of Rs 1,900. The current market price of Bharti Airtel Ltd. is Rs 1,617. Bharti Airtel., incorporated in 1995, is a Large Cap company with a market cap of Rs 987584.50 crore, operating in the Telecommunications sector.

Bharti Airtel's key products/revenue segments include Service Revenue and Sale of Products for the year ending 31-Mar-2024.

Financials

For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 45599 crore, up 9.28% from last quarter Total Income of Rs 41,728 crore and up 18.94% from last year same quarter Total Income of Rs 38339.30 crore. The company has reported net profit after tax of Rs 14474.90 crore in the latest quarter.

The company's top management includes Mr.Sunil Bharti Mittal, Mr.Gopal Vittal, Ms.Chua Sock Koong, Mr.Tao Yih Arthur Lang, Mr.Rakesh Bharti Mittal, Ms.Nisaba Godrej, Ms.Kimsuka Narasimhan, Mr.Shyamal Mukherjee, Justice(Retd)Arjan Kumar Sikri, Mr.Sunil Bharti Mittal, Mr.Douglas Anderson Baillie, Mr.Gopal Vittal, Ms.Chua Sock Koong, Mr.Tao Yih Arthur Lang, Mr.Rakesh Bharti Mittal, Ms.Nisaba Godrej, Ms.Kimsuka Narasimhan, Mr.Shyamal Mukherjee, Justice(Retd)Arjan Kumar Sikri, Mr.Douglas Anderson Baillie. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2024, the company has a total of 609 crore shares outstanding.

Investment Rational
Axis Securities retain their BUY rating on the Bharti Airtel stock due to the company's superior margins, impressive subscriber growth, and increased 4G conversions. The key risk is that competitors may eat market share, resulting in loss of sustainable revenue.

Promoter/FII Holdings
Promoters held 53.11 per cent stake in the company as of 31-Dec-2024, while FIIs owned 24.27 per cent, DIIs 19.41 per cent.