Is the Worst Behind Vodafone Idea: Here's What Vi CEO Said

Highlights

Vodafone Idea Limited (VIL), the third-largest telecom company in India, recently announced its Q4 FY26 results.
The company's CEO, Abhijit Kishore attended the earnings call with the analysts and the media post the results announcement.
The telco has been in the recovery phase for a year or two now.

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Is the Worst Behind Vodafone Idea: Here’s What Vi CEO Said

Vodafone Idea Limited (VIL), the third-largest telecom company in India, recently announced its Q4 FY26 results. The company’s CEO, Abhijit Kishore attended the earnings call with the analysts and the media post the results announcement. The telco has been in the recovery phase for a year or two now. Its AGR (adjusted gross revenue) dues have been lowered, along with a 10 year payment relief. Vi’s AGR dues will only be payable after a decade from now.

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Key Highlights

Vodafone Idea CEO Abhijit Kishore said that “the worst is behind us” as the telecom operator continues its recovery journey.
Vodafone Idea is confident of securing Rs 25,000 crore in funded debt along with Rs 10,000 crore in non-funded facilities from domestic and foreign lenders.
The telecom operator plans to spend around Rs 45,000 crore in capex between FY27 and FY29 to strengthen its network infrastructure and market presence.
Vi recently raised Rs 4,730 crore from an Aditya Birla Group entity, which is expected to support future network investments.
Vodafone Idea’s cash EBITDA margin is expected to improve from 20% to 35% in the coming years, supported by rising ARPU and improving business fundamentals.

Vi’s CEO said that the “worst is behind us.”

Vodafone Idea is Very Confident to Secure Another Rs 25,000 Crore in Funded Debt

Kishore mentioned that the company is very confident about securing another Rs 25,000 crore in funded debt. Along with this, the telco is hopeful of raising another Rs 10,000 crore in non-funded facilities from a consortium of foreign and domestic lenders.

“We are deeply engaged…with SBI-led consortium, which forms part of the PSU (public sector undertaking) banks, the private banks, as well as the foreign banks, and we are confident of closing that very fast,” he said.

Vodafone Idea to Continue with Rs 45,000 Crore Capex Plan

Vi is confident about its Rs 45,000 crore capex plan between FY27 and FY29. In FY26, the telecom operator incurred a capex of Rs 8,700 crore. This was down from Rs 9,600 crore in the previous financial year. However, with the fresh fundraising of Rs 4,730 crore via an Aditya Birla Group entity, the telco will likely continue with elevated capex cycle in FY27 as well. If the telco is able to raise more funds via debt in the near future, then that will further boost its ability to spend money on networks and increase its presence in the market.

Because of the improving business, Vi’s cash EBITDA margin is expected to grow from 20% (current) to 35% in the next few years, said Tejas Mehta, Chief Financial Officer of Vodafone Idea. The growing ARPU (average revenue per user) will certainly help Vi in doing this.

Vodafone Idea Adds New Customers

Because of investing thousands of crores into the mobile network, Vodafone Idea has been able to improve its network experience, and in turn, been able to boost its ARPU. Not just ARPU, but the telco also added new customers for two consecutive months in early 2026. This is a positive development and one that proves that the company has taken the right direction to grow. In the coming months, if Vi can add more users, that would further prove the company’s ability to make a u-turn. It would also help with the fundraising plans.

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