Cash flow Bharti Hexacom Limited

Stocks

BHARTIHEXA

INE343G01021

Wireless Telecommunications Services

End-of-day quote NSE India S.E. Other stock markets 2026-07-10			5-day change	1st Jan Change
1,604.70 ^INR	+2.11%		+11.39%	-11.91%

May. 14	Bharti Airtel Limited, Bharti Hexacom Limited, Q4 2026 Earnings Call, May 14, 2026
May. 14	Jefferies Adjusts Bharti Hexacom's Price Target to INR2,060 from INR1,880, Keeps at Buy	MT

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Published financial data: BHARTI HEXACOM LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	46.02B	54.05B	65.79B	70.89B	85.48B
Other Revenues, Total	1.02B	-	-	-	-
Total Revenues	47.04B	54.05B	65.79B	70.89B	85.48B
Cost of Goods Sold, Total	32.88B	32.68B	32.93B	31.88B	37.43B
Gross Profit	14.17B	21.38B	32.86B	39B	48.05B
Selling General & Admin Expenses, Total	1.41B	1.99B	3.07B	3.69B	4.07B
Provision for Bad Debts	102M	311M	324M	2M	97M
Depreciation & Amortization - (IS)	13.85B	14.41B	15.53B	17.39B	20.94B
Other Operating Expenses	1.11B	45M	587M	406M	329M
Other Operating Expenses, Total	16.48B	16.76B	19.51B	21.49B	25.44B
Operating Income	-2.31B	4.62B	13.35B	17.51B	22.6B
Interest Expense, Total	-4.49B	-5.24B	-5.73B	-5.58B	-6.04B
Interest And Investment Income	-	-	85M	774M	47M
Net Interest Expenses	-4.49B	-5.24B	-5.64B	-4.8B	-5.99B
Currency Exchange Gains (Loss)	471M	-10M	-26M	9M	-3M
Other Non Operating Income (Expenses)	-149M	-465M	-636M	-877M	-793M
EBT, Excl. Unusual Items	-6.47B	-1.1B	7.05B	11.84B	15.82B
Gain (Loss) On Sale Of Investments	-	-	290M	421M	146M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-237M	-	-	-	-
Other Unusual Items	-3.18B	19.51B	-	-3.03B	2.13B
EBT, Incl. Unusual Items	-9.89B	18.41B	7.34B	9.23B	18.09B
Income Tax Expense	448M	1.66B	1.85B	4.19B	3.15B
Earnings From Continuing Operations	-10.34B	16.75B	5.49B	5.04B	14.94B
Net Income to Company	-10.34B	16.75B	5.49B	5.04B	14.94B
Net Income - (IS)	-10.34B	16.75B	5.49B	5.04B	14.94B
Net Income to Common Incl Extra Items	-10.34B	16.75B	5.49B	5.04B	14.94B
Net Income to Common Excl. Extra Items	-10.34B	16.75B	5.49B	5.04B	14.94B
Per Share Items
Net EPS - Basic	-20.68	33.49	10.98	10.09	29.87
Basic EPS - Continuing Operations	-20.68	33.49	10.98	10.09	29.87
Basic Weighted Average Shares Outstanding	500M	500M	500M	500M	500M
Net EPS - Diluted	-20.68	33.49	10.98	10.09	29.87
Diluted EPS - Continuing Operations	-20.68	33.49	10.98	10.09	29.87
Diluted Weighted Average Shares Outstanding	500M	500M	500M	500M	500M
Normalized Basic EPS	-8.09	-1.38	8.81	14.8	19.77
Normalized Diluted EPS	-8.09	-1.38	8.81	14.8	19.77
Dividend Per Share	-	-	1.5	4	10
Payout Ratio	-	-	-	14.87	13.39
Supplemental Items
EBITDA	11.54B	16.45B	25.58B	31.04B	39.28B
EBITA	-2.31B	8.11B	16.88B	21.16B	27.27B
EBIT	-2.31B	4.62B	13.35B	17.51B	22.6B
EBITDAR	11.55B	16.45B	25.58B	31.05B	39.29B
Total Revenues (As Reported)	47.04B	54.94B	67.19B	73.38B	87.3B
Effective Tax Rate - (Ratio)	-4.53	9.04	25.16	45.37	17.43
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	-	-27M	-	5.14B	5.01B
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	448M	1.69B	1.85B	-946M	-1.86B
Normalized Net Income	-4.05B	-688M	4.4B	7.4B	9.88B
Interest Capitalized	-	-	580M	799M	140M
Interest on Long-Term Debt	1.27B	1.4B	2.03B	3.18B	2.9B
Non-Cash Pension Expense	15M	14M	14M	20M	23M
Supplemental Operating Expense Items
Advertising Expense	102M	46M	50M	42M	61M
Marketing Expenses	361M	316M	434M	392M	785M
Selling and Marketing Expenses	1.41B	1.99B	3.07B	3.69B	4.07B
Net Rental Expense, Total	5M	6M	5M	5M	6M
Imputed Operating Lease Interest Expense	2.45M	2.99M	2.76M	2.95M	3.84M
Imputed Operating Lease Depreciation	2.55M	3.01M	2.24M	2.05M	2.16M
Maintenance & Repair Expenses, Total	2.36B	2.2B	1.91B	2.76B	2.53B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	277M	885M	555M	398M	171M
Short Term Investments	24M	40M	19M	-	-
Trading Asset Securities, Total	-	490M	10.46B	2.38B	739M
Total Cash And Short Term Investments	301M	1.42B	11.03B	2.77B	910M
Accounts Receivable, Total	1.61B	21.25B	1.84B	4.89B	1.43B
Other Receivables	9.1B	7.22B	4.82B	4.14B	4.17B
Total Receivables	10.71B	28.46B	6.67B	9.03B	5.6B
Inventory	-	-	-	-	-
Prepaid Expenses	856M	848M	728M	662M	611M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	8.33B	9.5B	10.55B	11.51B	12.06B
Total Current Assets	20.2B	40.22B	28.98B	23.97B	19.18B
Gross Property Plant And Equipment	110B	117B	141B	154B	164B
Accumulated Depreciation	-55.58B	-61.8B	-69.69B	-69.94B	-76.3B
Net Property Plant And Equipment	54.54B	55.36B	71.66B	84.01B	87.78B
Long-term Investments	-	-	-	-	-
Other Intangibles, Total	49.22B	47.61B	59.44B	56.59B	62.52B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	11.17B	9.47B	7.63B	8.58B	10.22B
Deferred Charges Long-Term	810M	1.2B	1.51B	1.32B	1.1B
Other Long-Term Assets, Total	14.12B	12.87B	13.32B	10.71B	11.7B
Total Assets	150B	167B	183B	185B	193B
Liabilities
Accounts Payable, Total	22.24B	14.95B	14.41B	14.85B	15.86B
Accrued Expenses, Total	2.7B	1.67B	2.78B	2.91B	3.24B
Short-term Borrowings	22.51B	23.9B	31M	3M	8.75B
Current Portion of Long-Term Debt	313M	-	15.36B	20.42B	2.53B
Current Portion of Leases	4.86B	3.4B	3.89B	4.39B	5.04B
Current Income Taxes Payable	692M	624M	624M	7.78B	4.61B
Unearned Revenue Current, Total	3.58B	4.17B	4.75B	5.14B	6.97B
Other Current Liabilities	17.98B	13.08B	19.57B	20.01B	21.42B
Total Current Liabilities	74.89B	61.79B	61.42B	75.51B	68.41B
Long-Term Debt	36.93B	48.08B	47.3B	27.92B	26.52B
Long-Term Leases	13.12B	15.3B	25.45B	28.31B	30.69B
Unearned Revenue Non Current	5.03B	4.75B	6.03B	6.82B	7.13B
Pension & Other Post Retirement Benefits	49M	47M	39M	46M	71M
Other Non Current Liabilities	384M	174M	195M	182M	364M
Total Liabilities	130B	130B	140B	139B	133B
Common Stock, Total	2.5B	2.5B	2.5B	2.5B	2.5B
Additional Paid In Capital	-	1.04B	1.04B	1.04B	1.04B
Retained Earnings	-	32.19B	37.68B	39.97B	54.91B
Comprehensive Income and Other	17.16B	873M	873M	2.87B	873M
Total Common Equity	19.66B	36.6B	42.1B	46.39B	59.32B
Total Equity	19.66B	36.6B	42.1B	46.39B	59.32B
Total Liabilities And Equity	150B	167B	183B	185B	193B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	500M	500M	500M	500M	500M
ECS Total Common Shares Outstanding	500M	500M	500M	500M	500M
Book Value / Share	39.32	73.21	84.19	92.77	118.64
Tangible Book Value	-29.56B	-11.01B	-17.34B	-10.2B	-3.2B
Tangible Book Value Per Share	-59.12	-22.01	-34.69	-20.4	-6.4
Total Debt	77.74B	90.68B	92.04B	81.05B	73.53B
Net Debt	77.43B	89.27B	81B	78.27B	72.62B
Debt Equivalent of Unfunded Proj. Benefit Obligation	79M	68M	68M	75M	103M
Debt Equivalent Oper. Leases	40M	48M	40M	40M	48M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	-
Land - (BS)	-	-	-	-	-
Buildings, Total	156M	156M	156M	156M	161M
Machinery, Total	94.39B	99.96B	110B	123B	130B
Full Time Employees	-	-	-	424	569
Accumulated Allowance for Doubtful Accounts (Supple)	1.67B	1.58B	1.64B	1.84B	1.84B

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-	16.75B	5.49B	5.04B	14.94B
Depreciation & Amortization - CF	-	10.92B	12B	13.74B	16.28B
Amortization of Goodwill and Intangible Assets - (CF)	-	3.49B	3.53B	3.65B	4.67B
Depreciation & Amortization, Total	-	14.41B	15.53B	17.39B	20.94B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-19M	-290M	-421M	-99M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Provision and Write-off of Bad Debts	-	-	397M	18M	97M
Other Operating Activities, Total	-	7.43B	7.97B	12.73B	1.08B
Change In Accounts Receivable	-	-19.79B	19.08B	-2.98B	3.26B
Change In Inventories	-	-	-	-	-
Change In Accounts Payable	-	-7.73B	-769M	33M	-56M
Change in Other Net Operating Assets	-	1.53B	3.67B	3.64B	5.65B
Cash from Operations	-	12.58B	51.08B	35.46B	45.83B
Capital Expenditure	-	-13.49B	-9.45B	-20.58B	-14.69B
Sale of Property, Plant, and Equipment	-	149M	57M	106M	138M
Sale (Purchase) of Intangible assets	-	-41M	-1.32B	-352M	-10.62B
Investment in Marketable and Equity Securities, Total	-	-471M	-9.68B	8.5B	1.74B
Other Investing Activities, Total	-	25M	83M	773M	29M
Cash from Investing	-	-13.82B	-20.31B	-11.55B	-23.41B
Short Term Debt Issued, Total	-	-	-	-	8.21B
Long-Term Debt Issued, Total	-	65.18B	-	-	-
Total Debt Issued	-	65.18B	-	-	8.21B
Short Term Debt Repaid, Total	-	-1.1B	-28M	-	-
Long-Term Debt Repaid, Total	-	-59.43B	-27.23B	-17.93B	-23.46B
Total Debt Repaid	-	-60.53B	-27.26B	-17.93B	-23.46B
Common Dividends Paid	-	-	-	-750M	-2B
Common & Preferred Stock Dividends Paid	-	-	-	-750M	-2B
Other Financing Activities, Total	-	-2.82B	-3.86B	-5.36B	-5.4B
Cash from Financing	-	1.83B	-31.11B	-24.04B	-22.65B
Net Change in Cash	-	586M	-339M	-126M	-227M
Supplemental Items
Cash Interest Paid	-	2.82B	3.86B	5.36B	5.4B
Cash Income Tax Paid (Refund)	-	148M	197M	174M	6.75B
Levered Free Cash Flow	-	-31.13B	38.04B	9.24B	10.32B
Unlevered Free Cash Flow	-	-27.86B	41.62B	12.73B	14.09B
Change In Net Working Capital	4.23B	31.62B	-28.51B	-5.32B	-4.33B
Net Debt Issued / Repaid	-	4.65B	-27.26B	-17.93B	-15.25B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-0.95	1.82	4.78	5.95	7.48
Return on Total Capital	-1.47	2.57	6.38	8.37	10.86
Return On Equity %	-41.47	59.31	13.96	11.4	28.26
Return on Common Equity	-41.47	59.31	13.96	11.4	28.26
Margin Analysis
Gross Profit Margin %	30.12	39.55	49.95	55.02	56.21
SG&A Margin	3	3.69	4.66	5.21	4.76
EBITDA Margin %	24.54	30.43	38.88	43.79	45.96
EBITA Margin %	-4.91	15	25.66	29.86	31.9
EBIT Margin %	-4.91	8.54	20.29	24.7	26.44
Income From Continuing Operations Margin %	-21.98	30.98	8.35	7.12	17.47
Net Income Margin %	-21.98	30.98	8.35	7.12	17.47
Net Avail. For Common Margin %	-21.98	30.98	8.35	7.12	17.47
Normalized Net Income Margin	-8.6	-1.27	6.7	10.44	11.56
Levered Free Cash Flow Margin	-	-57.6	57.83	13.04	12.07
Unlevered Free Cash Flow Margin	-	-51.54	63.27	17.95	16.48
Asset Turnover
Asset Turnover	0.31	0.34	0.38	0.39	0.45
Fixed Assets Turnover	0.92	0.98	1.04	0.91	1
Receivables Turnover (Average Receivables)	21.19	4.73	5.7	21.07	27.06
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	0.27	0.65	0.47	0.32	0.28
Quick Ratio	0.15	0.48	0.29	0.16	0.1
Operating Cash Flow to Current Liabilities	-	0.2	0.83	0.47	0.67
Days Sales Outstanding (Average Receivables)	17.22	77.17	64.05	17.37	13.49
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	225.47	207.73	162.71	167.9	149.72
Long Term Solvency
Total Debt/Equity	395.4	247.74	218.64	174.72	123.95
Total Debt / Total Capital	79.81	71.24	68.62	63.6	55.35
LT Debt/Equity	254.55	173.15	172.82	121.22	96.44
Long-Term Debt / Total Capital	51.38	49.79	54.24	44.13	43.07
Total Liabilities / Total Assets	86.9	78.05	76.94	74.95	69.19
EBIT / Interest Expense	-0.51	0.88	2.33	3.14	3.74
EBITDA / Interest Expense	2.57	3.63	5.04	6.26	7.21
(EBITDA - Capex) / Interest Expense	2.57	1.06	3.39	2.57	4.78
Total Debt / EBITDA	6.73	4.77	3.19	2.32	1.69
Net Debt / EBITDA	6.71	4.69	2.8	2.24	1.67
Total Debt / (EBITDA - Capex)	6.73	16.37	4.74	5.66	2.55
Net Debt / (EBITDA - Capex)	6.71	16.11	4.17	5.47	2.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	20.51	14.9	21.72	7.75	20.58
Gross Profit, 1 Yr. Growth %	89.13	50.88	53.73	18.69	23.18
EBITDA, 1 Yr. Growth %	289.08	77.72	55.92	21.38	26.64
EBITA, 1 Yr. Growth %	-67.58	283.59	109.26	25.39	29.01
EBIT, 1 Yr. Growth %	-67.58	-453.06	191.83	31.17	29.26
Earnings From Cont. Operations, 1 Yr. Growth %	-61.94	-261.97	-67.2	-8.16	196.11
Net Income, 1 Yr. Growth %	-61.94	-261.97	-67.2	-8.16	196.11
Normalized Net Income, 1 Yr. Growth %	-47.68	-83.01	-729.85	68.02	33.56
Diluted EPS Before Extra, 1 Yr. Growth %	-61.94	-261.97	-67.2	-8.16	196.11
Accounts Receivable, 1 Yr. Growth %	-41.26	1.22K	-91.33	165.11	-70.71
Inventory, 1 Yr. Growth %	-	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	15.54	1.55	29.43	17.23	4.49
Total Assets, 1 Yr. Growth %	-2.78	11.14	9.47	1.45	3.96
Tangible Book Value, 1 Yr. Growth %	31.77	-62.51	57.58	-41.2	-68.62
Common Equity, 1 Yr. Growth %	-34.9	84.32	15	10.2	27.88
Cash From Operations, 1 Yr. Growth %	-	-17.08	306.07	-30.58	29.23
Capital Expenditures, 1 Yr. Growth %	-	-7.43	-29.95	117.86	-28.61
Levered Free Cash Flow, 1 Yr. Growth %	-	199.14	-222.09	-75.72	11.81
Unlevered Free Cash Flow, 1 Yr. Growth %	-	266.4	-249.28	-69.44	10.85
Dividend Per Share, 1 Yr. Growth %	-	-	-	166.67	150
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	14	17.67	18.26	14.52	13.99
Gross Profit, 2 Yr. CAGR %	83.73	68.93	52.3	35.08	20.92
EBITDA, 2 Yr. CAGR %	614.7	135.44	66.25	37.57	23.93
EBITA, 2 Yr. CAGR %	-37.53	6.72	182.57	61.98	27.11
EBIT, 2 Yr. CAGR %	-51.62	-19.46	219.49	95.65	30.11
Earnings From Cont. Operations, 2 Yr. CAGR %	19.67	-21.49	-27.12	-45.12	64.91
Net Income, 2 Yr. CAGR %	19.67	-21.49	-27.12	-45.12	64.91
Normalized Net Income, 2 Yr. CAGR %	-27.35	-70.19	4.34	225.31	49.8
Diluted EPS Before Extra, 2 Yr. CAGR %	19.67	-21.49	-27.12	-45.12	64.91
Accounts Receivable, 2 Yr. CAGR %	2.15	178.68	7.09	-52.05	-11.88
Net Property, Plant and Equip., 2 Yr. CAGR %	28.07	8.3	14.65	23.18	10.68
Total Assets, 2 Yr. CAGR %	15.03	3.94	10.3	5.38	2.7
Tangible Book Value, 2 Yr. CAGR %	216.24	-29.96	-23.14	-3.74	-57.05
Common Equity, 2 Yr. CAGR %	-41.62	10.09	45.59	12.57	18.71
Cash From Operations, 2 Yr. CAGR %	-	-	83.49	67.89	-5.29
Capital Expenditures, 2 Yr. CAGR %	-	-	-19.47	23.54	24.71
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	91.19	-45.56	-47.94
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	133.98	-32.46	-41.83
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	158.2
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	2.11	14.3	19	15.49	16.51
Gross Profit, 3 Yr. CAGR %	6.72	72.06	63.7	43.69	30.99
EBITDA, 3 Yr. CAGR %	13.71	317.49	105.04	50.63	33.79
EBITA, 3 Yr. CAGR %	-6.75	11.1	33.34	121.67	50.09
EBIT, 3 Yr. CAGR %	40.34	-22.34	23.31	127.92	70.32
Earnings From Cont. Operations, 3 Yr. CAGR %	109.84	32.37	-41.31	-21.28	-3.74
Net Income, 3 Yr. CAGR %	109.84	32.37	-41.31	-21.28	-3.74
Normalized Net Income, 3 Yr. CAGR %	57.19	-55.24	-17.11	21.47	141.78
Diluted EPS Before Extra, 3 Yr. CAGR %	109.84	32.37	-41.31	-21.28	-3.74
Accounts Receivable, 3 Yr. CAGR %	-10.84	139.85	-12.34	44.87	-59.31
Net Property, Plant and Equip., 3 Yr. CAGR %	26.5	18.52	14.93	15.5	16.61
Total Assets, 3 Yr. CAGR %	13.19	13.71	5.75	7.27	4.91
Tangible Book Value, 3 Yr. CAGR %	149.95	55	-8.22	-29.71	-33.75
Common Equity, 3 Yr. CAGR %	-32.84	-14.06	11.71	32.68	17.46
Cash From Operations, 3 Yr. CAGR %	-	36.69	-	32.71	53.87
Capital Expenditures, 3 Yr. CAGR %	-	9.94	-	12.21	2.9
Levered Free Cash Flow, 3 Yr. CAGR %	-	113.18	-	-4.28	-30.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	136.38	-	18.06	-20.37
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-1.95	1.05	8.29	14.39	16.97
Gross Profit, 5 Yr. CAGR %	-11.46	-2.18	23.03	56.18	45.02
EBITDA, 5 Yr. CAGR %	-11.53	-2.96	26.64	167.65	67.64
EBITA, 5 Yr. CAGR %	-33.03	-10.76	42.77	29.05	30.81
EBIT, 5 Yr. CAGR %	-32.22	-16.05	74.09	12.17	25.99
Earnings From Cont. Operations, 5 Yr. CAGR %	0.1	20.46	37.46	-6.92	-11.28
Net Income, 5 Yr. CAGR %	0.1	20.46	37.46	-6.92	-11.28
Normalized Net Income, 5 Yr. CAGR %	-16.33	-35.96	33.42	-0.7	5.03
Diluted EPS Before Extra, 5 Yr. CAGR %	0.1	20.46	37.46	-6.92	-11.28
Accounts Receivable, 5 Yr. CAGR %	-8.12	51.66	-4.06	25.98	-12.16
Net Property, Plant and Equip., 5 Yr. CAGR %	23.04	21.35	21.61	20.37	13.21
Total Assets, 5 Yr. CAGR %	12.1	11.5	12.02	10.3	4.52
Tangible Book Value, 5 Yr. CAGR %	-6.61	23.1	55.74	28.11	-32.26
Common Equity, 5 Yr. CAGR %	-20.66	-11.34	-8.29	-4.26	14.46
Cash From Operations, 5 Yr. CAGR %	-	-3.66	38.9	48.41	-
Capital Expenditures, 5 Yr. CAGR %	-	16.74	-7.73	15.19	-
Levered Free Cash Flow, 5 Yr. CAGR %	-	113.35	32.43	23.52	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	92.28	36.26	43.26	-