Date: 12 November 2026

Financial Results (Standalone & Consolidated)

Profit and Loss Account (₹ Cr):

  • Revenue from Operations: Q2FY27 ₹11,884 Cr (Q2FY26: ₹11,195 Cr, +6.2% YoY)
  • Opex: Q2FY27 ₹6,903 Cr (Q2FY26: ₹6,510 Cr)
  • EBITDA: Q2FY27 ₹4,981 Cr (Q2FY26: ₹4,685 Cr, +6.3% YoY)
  • EBITDA Margin: Q2FY27 41.9% (Q2FY26: 41.9%)
  • Depreciation & Amortisation: Q2FY27 ₹5,505 Cr
  • EBIT: Q2FY27 (₹524) Cr (Q2FY26: (₹882) Cr)
  • Interest and Financing Cost (net): Q2FY27 ₹4,975 Cr
  • Exceptional Items: Q2FY27 (₹462) Cr (mark-to-market of treasury assets)
  • PBT: Q2FY27 (₹5,961) Cr
  • Tax Expenses: Q2FY27 ₹14 Cr
  • PAT: Q2FY27 (₹5,975) Cr
  • Total comprehensive income: Q2FY27 (₹5,979) Cr
  • Cash EBITDA (pre-IndAS 116): Q2FY27 ₹2,498 Cr (Q2FY26: ₹2,246 Cr, +11.2% YoY)
  • Cash EBITDA Margin: Q2FY27 21.0% (Q2FY26: 20.1%)
  • PAT adjusted for exceptional item: Q2FY27 (₹5,513) Cr (Q2FY26: (₹5,562) Cr)

Balance Sheet (₹ Cr as of 30-Sep-26):

  • Total Assets: ₹197,409 Cr (31-Mar-26: ₹191,638 Cr)
  • Property, plant and equipment: ₹71,194 Cr
  • Capital work-in-progress: ₹2,175 Cr
  • Intangible assets: ₹88,508 Cr
  • Cash and cash equivalents: ₹3,967 Cr
  • Bank balance other than cash: ₹1,361 Cr
  • Total cash and bank balance: ₹5,470 Cr
  • Equity share capital: ₹108,343 Cr
  • Other equity: (₹152,641) Cr
  • Total equity: (₹44,298) Cr
  • Long term borrowings: ₹1,134 Cr (banks and others)
  • Deferred payment obligations: ₹146,974 Cr
  • Lease liabilities: ₹42,014 Cr
  • Bank debt: ₹943 Cr
  • Short term borrowings: ₹3,091 Cr (banks and others)

Management Discussion and Analysis

Operational Highlights:

  • Subscriber Base: 194.4 million (Q1FY27: 193.1 million)
  • Postpaid Subscribers: 33.9 million
  • 4G/5G Subscribers: 131.0 million (Q2FY26: 127.8 million)
  • Customer ARPU: ₹198 (Q2FY26: ₹180, +9.7% YoY)
  • Blended Churn: 4.0%
  • 4G Population Coverage: 87.8% (covered 431,445 census towns & villages)
  • 2G Population Coverage: 91.3% (covered 487,173 census towns & villages)
  • Total Unique Towers: 216,560
  • Total Unique Broadband Towers: 213,616
  • Total Broadband sites: 610,521
  • Data Usage: 93.6 PB/day (Q2FY26: 73.6 PB/day, +27.1% YoY)
  • Average Data Usage by 4G/5G Subscriber: 23.0 GB

Funding and Capex:

  • Secured total funding of over ₹10,500 Cr till H1FY27 including warrants, fund & non-fund based facilities
  • Over ₹4,000 Cr of incremental bank funding arranged in Q2FY27
  • Capex for the quarter: ₹3,946 Cr
  • Placed capex orders worth over ₹13,200 Cr towards three-year capex guidance
  • Expanded 5G coverage to 400 Indian cities and towns across 17 key circles
  • Added nearly 9,000 new unique broadband towers in Q2FY27 (highest quarterly addition in nine quarters)
  • 4G population coverage expected to increase to over 95% in 17 key circles with planned investments

Brand and Product Initiatives:

  • Refreshed logo and brand identity unveiled in September 2026
  • Shah Rukh Khan onboarded as brand ambassador with "Everyone is a VIP" campaign
  • Launched free international roaming benefits across key prepaid and postpaid plans
  • Introduced India's first prepaid family plan enabling data sharing among family members
  • Expanded Vi Movies & TV offerings with new pricing packs
  • Extended Spotify Premium benefits to select prepaid plans

Enterprise Business:

  • Strategic collaboration with Hindalco to deploy dedicated private network at Baphlimali Bauxite Mine in Odisha
  • Launched 'iD+' solution for verified caller identification
  • Partnered with Cisco to accelerate enterprise network transformation
  • Expanded portfolio with Vi Business WhatsApp solution
  • Added capacity in data centers and NLD segment to support growing enterprise demand

Stock Market Highlights

As of 30-Sep-26:

  • BSE Code: 532822
  • NSE Symbol: IDEA
  • Reuters: IDEA.NS
  • No of Shares Outstanding: 108,343.0 million
  • Closing Market Price (NSE): ₹13.0/share
  • Combined Volume (NSE & BSE): 427.6 mn/day
  • Combined Value (NSE & BSE): ₹603 Cr/day
  • Market Capitalisation: ₹140,304 Cr

Shareholding Pattern

As on September 30, 2026:

  • Promoter and Promoter Group: 25.64%
  • Aditya Birla Group: 9.57% (1,036,703,332 shares)
  • Vodafone Group: 16.07% (1,741,404,522 shares)
  • Government of India: 49.00% (5,308,318,489 shares)
  • Public Shareholding: 25.37%
  • Institutional Holding: 12.23% (1,325,842,861 shares)
  • Non-Institutional Holding: 13.13% (1,422,034,294 shares)

Corporate Structure

100% Subsidiaries:

  • Vodafone Idea Manpower Services Limited
  • Vodafone Idea Business Services Limited
  • Vodafone Idea Communication Systems Limited
  • Vodafone Idea Shared Services Limited
  • You Broadband India Limited
  • Vodafone Foundation
  • Vodafone Idea Telecom Infrastructure Limited* (VIL holds 97.5%, VICSL holds 2.5%)
  • Vodafone Idea Next-Gen Solutions Limited
  • Vodafone Idea Technology Solutions Limited

Additional Investments:

  • VIL holds 26% stake in Sangli Wind Energy Private Limited
  • VIL holds 26% stake in Aditya Birla Renewables SPV 3 Limited
  • VIL holds 26% stake in MTK Quantum Green Energy Private Limited

Business Segments

Mobility Services:

  • Voice services covering 91.3% of India's population in over 487,000 census towns and villages
  • 4G services available in all 22 service areas covering 87.8% population in over 431,000 census towns and villages
  • 5G services expanded to 400 Indian cities and towns across 17 key circles

Digital Offerings:

  • Vi Movies & TV: OTT app with 20+ platforms and 200+ live TV channels
  • Vi Finance: Personal loans, fixed deposits and credit cards through partnerships
  • Vi Ads: Digital advertising platform with AI/ML-enabled insights
  • Vi Shop: Digital marketplace across various categories
  • Utility bill payment functionality integrated into Vi App

Enterprise Services (Vi Business):

  • Comprehensive portfolio across Connectivity, Cloud, IoT, Business Communications, Mobility, and Cybersecurity
  • Focus on Manufacturing, BFSI, Utilities, Logistics, Government sectors

Spectrum Portfolio

Total Spectrum: 8,030.4 MHz across different frequency bands

  • Liberalised spectrum: 8,012.8 MHz
  • Mid band 5G spectrum (3300 MHz band) in 17 key circles
  • mmWave 5G spectrum (26 GHz band) in 16 circles
  • Solid portfolio across all bands in all 17 key circles

Network Infrastructure

As of September 30, 2026:

  • Presence in over 216,500 unique locations
  • Over 610,500 broadband sites
  • Portfolio of over 355,000 km of OFC (owned and IRU)
  • 4G population coverage: 87.8%