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Bharti Hexacom
SectorTelecom
Bharti Hexacom Limited is a communications solutions provider offering mobile, fixed-line telephone, and broadband services in Rajasthan and Northeast India under the Airtel brand. The company operates in two segments: Mobile Services, covering voice and data through wireless technology, and Homes and Office Services, providing voice and data communications via fixed-line and broadband. It offers 2G, 3G, 4G, and 5G mobile services, as well as digital services including Airtel Payments Bank, Airtel Xstream, Airtel Thanks, Wynk music streaming, and Direct-to-Home Digital TV. Bharti Hexacom is a subsidiary of Bharti Airtel Ltd, which holds a 70% stake, while TCIL, a public sector undertaking, holds the remaining 30%.
In the news
Bharti Hexacom Q4 results: Revenue up 5.4% YoY, profit falls 4.6%
Bharti Airtel Q4 profit up 10.5% QoQ to ₹7,325 cr, Africa stake rises
Q4 results today: Airtel profit drops 34%, TVS Motor up 37%
Bharti Hexacom shares rise on CLSA upgrade; Airtel preferred
Bharti Hexacom faces tariff hike delays but Jefferies sees 69% upside
Company insights, generated from the most recent coverage.
Rajasthan and the Northeast remain under-penetrated for Hexacom, giving it a domestic runway that most mature-circle operators no longer have.
ARPU of ₹259 in Q1 FY27 with management seeing 'substantial headroom' on the existing base means ARPU growth can come from data-led upgrades, unlimited plans and postpaid mix rather than depending entirely on list-price hikes.
Nomura's Oct 15 Buy initiation at a ₹1,870 target (~19% upside) argues the de-rating was overdone and that Hexacom is the stock most levered to a tariff hike — a second house echoing the pure-play, high-RoCE thesis.