Bharti Airtel Share Price Highlights: How has been Its historical performance?
Bharti Airtel's share price has delivered a stellar historical performance, rising from around ₹364 in May 2015 to ₹2,089 as of December 2025, reflecting a multi-bagger return driven by 5G rollout, ARPU growth, and profitability turnaround.
Early Challenges (2015-2020)
The stock traded between ₹300-₹400 in 2015 amid intense competition from Reliance Jio's entry, which eroded market share and pressured tariffs. Prices dipped further post-2016 due to AGR dues and losses, hitting lows around ₹243 by 2019-2020, with consolidated net sales at ₹80,780 crore but negative PAT margins from high capex and debt. Recovery began in late 2020 as tariff hikes stabilized revenues, pushing the price above ₹500 by FY2021 end despite a ₹15,083 crore loss that year.
Turnaround Phase (2021-2025)
From 2021 lows, the stock surged over 300% to ₹1,618 by March 2025, fueled by PAT rebound to ₹33,556 crore, EPS at ₹57.85, and revenue doubling to ₹1,72,985 crore. Key catalysts included 5G spectrum wins, Africa stabilization, and ARPU hikes to ₹208 by Q3FY24, with operating margins jumping from 31.7% in 2019 to 53.9% in 2025. Q2FY26 results propelled it to an all-time high of ₹2,174.50 on November 20, 2025, with 73% YoY profit growth to ₹6,792 crore on ₹52,145 crore revenue.
Key Milestones and Returns
5-Year CAGR: Approximately 41%, with profit growth at 31.4% CAGR, dividend payout steady at 38.8%.
10-Year Highs: From ₹264 in 2016 to ₹2,174 peak, underscoring multibagger status amid telecom consolidation.
Recent Volatility: November 2025 averaged ₹2,105, with Q2FY26 EBITDA at ₹29,919 crore (57.4% margin).
Future Outlook
Analysts project targets up to ₹2,560 by end-2025, supported by tariff hikes, Africa revenue acceleration, and 11% ARPU CAGR through FY2028. Risks include competition and debt, but strong cash flows position it for sustained gains.
Bharti Airtel delivered the strongest 5-year total return among telecom peers, achieving approximately 336-342% cumulative (34-41% CAGR) from late 2020 to December 2025, far outpacing competitors amid sector recovery.
5-Year Total Returns Comparison
| Company | 5-Year Cumulative Return | Approx. CAGR | Key Notes |
|---|---|---|---|
| Bharti Airtel | 336-342% | 34-41% | Driven by ARPU hikes, 5G rollout, Africa turnaround; ROE at 25.58% in FY25. |
| Vodafone Idea (Vi) | -0.16% to negative | ~0% or loss | Persistent losses, debt crisis, market share erosion; poor sales growth -0.62% CAGR. |
| Indus Towers | ~79% | ~12% | Tower tenancy growth, but recent volatility; EPS CAGR 16-17%. |
| Bharti Hexacom | ~113% (since 2021 IPO) | ~24% | Regional strength in Rajasthan/Northeast; listed post-2020 period. |
| Reliance Industries (RIL, Jio parent) | ~80% | ~12-13% | Telecom boosted overall, but diversified drag; 26% YTD 2025. |
Airtel's outperformance stems from premium subscriber focus and profitability rebound, while Vi lagged due to AGR dues and Jio/RIL diluted pure telecom gains. Indus and Hexacom benefited indirectly from data demand but trailed Airtel's scale.
Bharti Airtel's 5-year total return reached 342% cumulative (approx. 34% CAGR) from late 2020 to December 2025, driven by tariff hikes, 5G rollout, and profitability rebound amid sector consolidation.
Yearly Return Breakdown
| Year | Approx. Close (₹) | Annual Return (%) | Cumulative Return (%) |
|---|---|---|---|
| 2020 | 500 | - | 0 |
| 2021 | 1,100 | 120 | 120 |
| 2022 | 850 | -22.7 | 70 |
| 2023 | 1,700 | 100 | 240 |
| 2024 | 1,900 | 11.8 | 280 |
| 2025 | 2,089 | 9.9 | 318 |
Key Events by Year
2020: Stock bottomed near ₹500 amid COVID, Jio competition, and AGR dues; early tariff hikes stabilized revenues despite ₹15,083 Cr loss.
2021: 120% surge on first profit turnaround (₹83,052 Cr PAT), spectrum wins, and ARPU recovery to ₹150+; Africa ops stabilized.
2022: -23% dip from high capex (5G prep), elevated debt; EBITDA margins improved to 52.9% but FCF pressured.
2023: 100% rally with PAT at ₹122,874 Cr, ARPU at ₹193-208, RMS gains to 37%; 5G launch boosted premium subs.
2024: Steady 12% gain; FY25 revenue hit ₹1,74,559 Cr (+15%), EBITDA ₹94,249 Cr (54.5% margin), PAT ₹37,481 Cr (+338%).
2025: 10% YTD rise to ₹2,089-2,174 peak on Q2FY26 profit +73% YoY (₹6,792 Cr), ARPU ₹256, tariff premiumization.
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