CLSA has reiterated its outperform rating on Bharti Airtel with a target price of ₹2,035 per share, implying a potential upside of about 4.9% from the current market price of ₹1,940.50. The brokerage highlighted that the telecom major continues to strengthen its balance sheet and invest in digital infrastructure to drive growth.
According to CLSA, FY25 marked a strong phase of 5G ramp-up for the company, with its Indian mobile revenue share rising to 40%, which acted as a key growth driver. The brokerage further noted that operating and free cash flows grew between 25% and 41% year-on-year, reaching $4.3–11.3 billion. In terms of financial strength, gearing remains comfortable at 1.9x EBITDA, while return on capital employed improved to 15.4%.
CLSA said these metrics position Bharti Airtel well for sustained growth in the coming years.
Disclaimer: The views and investment recommendations expressed are those of CLSA. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
