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Bharti Hexacom

BHARTIHEXA NSE
₹1,718.80 No trade today
P/E
47.13
View as Markdown
MCP
Close 4 Nov 2026 ₹1,718.80 −95.10 −5.24% 1Y
Start ₹1,813.90

Key Fundamentals

MidcapTelecom - ServicesTelecom

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
21.40%
Debt to Equity
0.86
EPS (TTM)
₹36.47
Book Value
₹143.30
Market Cap
—
P/E (TTM)
47.13
P/B
11.99
ROE
26.00%
Dividend Yield
1.06%
EBITDA
₹5,114 Cr
52W High
₹1,868.00
52W Low
₹1,359.20
Volume
0

Peer Comparison

Telecommunication › Telecom › Telecom Service Provider › Telecom - Cellular & Fixed line services

Bharti Hexacom peer comparison
Bharti Airtel
₹2,067.6042.50₹12,79,365 Cr7.331.16%20.30%17.60%₹2,20,049 Cr₹36,413 Cr
Vodafone Idea
₹12.55—₹1,32,612 Cr—0.00%—−1.72%₹45,539 Cr₹37,406 Cr
Bharti Hexacom (this company)
₹1,718.8047.13₹85,730 Cr11.991.06%26.00%21.40%₹9,601 Cr₹1,824 Cr
Tata Communications
₹1,754.6052.87₹50,323 Cr14.710.99%32.60%14.60%₹25,426 Cr₹936 Cr
Tata Teleservices Maharashtra
₹35.13—₹6,760 Cr—0.00%—55.60%₹1,178 Cr₹38 Cr
Mahanagar Telephone Nigam
₹24.30—₹1,528 Cr—0.00%—−9.32%₹988 Cr−₹3,006 Cr
Reliance Communications
₹0.80—₹221 Cr—0.00%——₹305 Cr−₹9,374 Cr
Median 7 companies₹35.1347.13₹50,323 Cr11.990.00%26.00%16.10%₹9,601 Cr₹936 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 98/100

Category scores

Quality
79
Strong
Returns, margins, earnings quality 22% weight
Valuation
37
Poor
Cheap vs sector & own history 24% weight
Growth
47
Average
Sales & profit trajectory 9% weight
Financial Health
49
Average
Solvency, leverage, coverage 9% weight
Momentum
74
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has delivered good profit growth of 34.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 51.3%

Weaknesses

1
  • Stock is trading at 9.65 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3313
OscillatorsNeutral333
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
70.26
Bearish
MACD (12,26,9)
47.51
Bullish
SMA (50)
1,549.48
Bullish
SMA (200)
1,559.01
Bullish

As of

Analyst Rating

Based on 15 analysts
BUY87%

13 of 15 analysts rate Buy, 1 Hold, 1 Sell.

As of

BUY
13
87%
HOLD
1
7%
SELL
1
7%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+15.24%
3Y+12.45%
1Y+9.43%
TTM+7.86%

Net profit

Net profit growth by window
5YTurned to profit
3Y+46.69%
1Y+16.00%
TTM+32.75%

Operating cash flow

Operating cash flow growth by window
5Y+24.09%
3Y−4.39%
1Y−2.60%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+29.42 pp
3Y+9.93 pp
1Y+3.18 pp
TTM+2.24 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹3,614 Cr
Mar 2020₹3,874 Cr
Mar 2021₹4,602 Cr
Mar 2022₹5,405 Cr
Mar 2023₹6,579 Cr
Mar 2024₹7,089 Cr
Mar 2025₹8,548 Cr
Mar 2026₹9,354 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019−₹722 Cr
Mar 2020−₹2,716 Cr
Mar 2021−₹1,034 Cr
Mar 2022₹1,675 Cr
Mar 2023₹549 Cr
Mar 2024₹504 Cr
Mar 2025₹1,494 Cr
Mar 2026₹1,733 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹1,371 Cr −1.7% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk medium

Bharti Hexacom trades at ₹1,704.7 as of 2026-11-03 with a market cap of ₹84,550 crore, commanding a PE of 46.74x and ROE of 24.19%. The company has delivered strong profit compounding of 46% over three years alongside healthy dividend payouts, but the stock trades at a steep 11.9x price-to-book and has declined 17% over the past year.

Bull Case 7
  • Exceptional profit compounding at 46% CAGR over the last 3 years demonstrates strong earnings momentum in a capital-intensive sector
  • ROE of 24.19% and ROCE of 21.84% as of 2026-11-03 indicate efficient capital deployment well above typical telecom industry averages
  • Last year ROE expanded to 26%, up from a 3-year average of 22% and a 5-year average of 17%, signalling improving profitability trajectory
  • Healthy dividend payout ratio of 51.3% provides meaningful shareholder returns, with a current dividend yield of 1.07%
  • 5-year compounded profit growth of 35% reflects sustained long-term earnings expansion, not a one-off spike
  • Compounded sales growth of 15% over 5 years and 12% over 3 years shows consistent revenue expansion in its operating circles
  • Debt-to-equity of 0.86 as of 2026-11-03 is manageable for a telecom operator, keeping financial risk contained relative to the sector's heavy capex requirements
Bear Case 7
  • PE of 46.74x as of 2026-11-03 is elevated, pricing in significant future growth and leaving limited room for earnings disappointments
  • Stock trades at 11.9x book value, far above the already high 9.65x flagged as a concern, indicating stretched valuations on an asset basis
  • TTM profit growth of 29% has decelerated from the 3-year CAGR of 46%, suggesting the pace of earnings expansion may be moderating
  • TTM sales growth of 8% is notably slower than the 3-year CAGR of 12% and the 5-year CAGR of 15%, pointing to a maturing revenue growth profile
  • The stock is trading 8.7% below its 52-week high of ₹1,868, and with a 52-week low of ₹1,359.2 the range suggests meaningful price volatility
  • As a regional telecom operator, Bharti Hexacom operates in a concentrated set of circles, creating geographic concentration risk relative to its ₹84,550 crore market cap
  • EPS of ₹36.47 TTM against a share price of ₹1,704.7 means investors are paying a substantial premium per rupee of current earnings

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

19d ago

TL;DR: The only news in this period is a routine disclosure that Bharti Hexacom will meet investors in Hong Kong on September 22-23, 2026. It points to continued engagement with foreign institutional investors but carries no new information on operations, ARPU or subscriber trends. With no reported headwinds or positives, the short-term news trend is flat. Any change in sentiment will likely come from management commentary at these meetings and from upcoming quarterly results or tariff developments.

Neutral 1
  • Hong Kong investor conference participation Sep 17

    Bharti Hexacom will attend the CITIC CLSA Investors' Forum and the BofA Asia Pacific Conference in Hong Kong on September 22-23, 2026. This is a routine institutional investor meeting, and no financial announcements are expected.

Quarterly Results

₹ Cr
BHARTIHEXA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,682
1,738
1,801
1,868
1,911
2,098
2,251
2,289
2,263
2,317
2,360
2,414
2,510
Expenses
852
913
973
990
1,035
1,096
1,099
1,121
1,102
1,109
1,105
1,146
1,188
Operating Profit
830
826
828
878
876
1,002
1,152
1,168
1,161
1,208
1,254
1,267
1,322
OPM %
49%
48%
46%
47%
46%
48%
51%
51%
51%
52%
53%
52%
53%
Other Income
80
−246
62
49
358
49
−61
48
48
61
28
53
72
Interest
154
156
169
166
162
175
180
171
154
151
147
149
149
Depreciation
414
432
433
460
496
536
532
531
527
554
567
565
592
PBT
342
−8
288
301
577
340
379
513
527
564
569
606
653
Tax %
26%
2322%
26%
26%
11%
25%
31%
9%
26%
25%
17%
26%
26%
Net Profit
253
−184
213
223
511
253
261
468
392
421
474
447
482
EPS (₹)
10.13
−7.36
4.25
4.45
10.22
5.06
5.22
9.37
7.83
8.42
9.47
8.93
9.65

Profit & Loss

₹ Cr
BHARTIHEXA profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,614
3,874
4,602
5,405
6,579
7,089
8,548
9,354
9,601
Expenses
3,702
3,376
3,550
3,591
3,793
3,728
4,351
4,463
4,549
Operating Profit
−89
499
1,052
1,814
2,786
3,361
4,197
4,890
5,052
OPM %
−2.5%
13%
23%
34%
42%
47%
49%
52%
53%
Other Income
222
−2,158
−240
2,040
140
−54
394
190
215
Interest
248
526
517
572
639
644
688
601
596
Depreciation
1,009
1,250
1,285
1,441
1,553
1,739
2,094
2,213
2,278
PBT
−1,123
−3,435
−989
1,841
734
923
1,809
2,266
2,392
Tax %
−36%
−21%
5%
9%
25%
45%
17%
24%
—
Net Profit
−722
−2,716
−1,034
1,675
549
504
1,494
1,733
1,824
EPS (₹)
−28.88
−109
−41.36
66.98
21.97
10.09
29.87
34.66
36.47
Div. Payout %
0%
0%
0%
0%
14%
40%
33%
81%
—

Balance Sheet

₹ Cr
BHARTIHEXA balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
250
250
250
250
250
250
250
250
Reserves
5,518
2,770
1,736
3,410
3,960
4,389
5,682
6,915
Borrowings
2,941
5,191
7,774
9,068
9,204
8,105
7,353
6,137
Other Liabilities
2,632
7,224
5,244
3,945
4,840
5,774
5,966
5,748
Total Liabilities
11,341
15,435
15,004
16,674
18,253
18,517
19,251
19,051
Fixed Assets
9,226
9,874
10,304
10,234
11,174
13,615
14,733
14,038
CWIP
162
110
71
64
1,936
444
297
476
Investments
0
625
0
49
1,046
238
74
631
Other Assets
1,952
4,825
4,629
6,328
4,097
4,220
4,147
3,905
Total Assets
11,341
15,435
15,004
16,674
18,253
18,517
19,251
19,051

Cash Flow

₹ Cr
BHARTIHEXA cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
493
−316
1,517
1,258
5,108
3,546
4,583
4,464
Investing
−1,166
−1,076
−882
−1,382
−2,031
−1,155
−2,341
−2,010
Financing
560
1,864
−604
183
−3,111
−2,404
−2,265
−2,438
Net Cash Flow
−114
473
30
59
−34
−13
−23
16
Free Cash Flow
−675
−777
64
−76
4,169
1,498
3,104
3,026
CFO/OP
−653
−59
147
70
184
106
125
106

Ratios

BHARTIHEXA financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
10
22
11
142
8
23
5
4
Cash Conversion Cycle
10
22
11
142
8
23
5
4
Working Capital Days
−135
−317
−438
−157
−243
−281
−215
−171
ROCE %
—
−9%
−1%
4%
10%
14%
17%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bharti Hexacom insights

48 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 70.00%
  • Others 15.14%
  • DIIs 11.03%
  • FIIs 3.24%
  • Public 0.59%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Bharti Hexacom

What does Bharti Hexacom Ltd do?
IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed- line telephone and broadband services in Rajasthan and Northeast telecom circles
Where is Bharti Hexacom Ltd (BHARTIHEXA) listed?
Bharti Hexacom Ltd trades as BHARTIHEXA on the NSE and under code 544162 on the BSE.
Which sector does Bharti Hexacom Ltd belong to?
Bharti Hexacom Ltd is classified under the Telecom sector, in the Telecom Service Provider industry.
What is the PE ratio of Bharti Hexacom Ltd?
Bharti Hexacom Ltd trades at a PE ratio of 47.13 as of 4 Nov 2026, on earnings per share of ₹36.47, against a book value of ₹143.3 per share.
What is the 52-week high and low of Bharti Hexacom Ltd?
Over the last 52 weeks Bharti Hexacom Ltd has traded between ₹1,359.2 and ₹1,868 as of 4 Nov 2026.
Does Bharti Hexacom Ltd pay dividends?
Bharti Hexacom Ltd has a dividend yield of 1.06%.
What is the Return on Equity (ROE) of Bharti Hexacom Ltd?
Bharti Hexacom Ltd reported a return on equity of 26.00%. Its debt-to-equity ratio is 0.86.

Company Information

IIncorporated in 1995, Bharti Hexacom Ltd provides consumer mobile services, fixed- line telephone and broadband services in Rajasthan and Northeast telecom circles

Website bhartihexacom.in
CEO Mr. Amit Chaturvedi
Employees 569
Listed 12 Apr 2024
Face Value ₹5

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