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  • Bharti Infratel Share Price

    Bharti Infratel Limited is a company that provides a number of services related to the telecom industry. It provides mobile towers to other telecom providers in addition to other services. This is not a Government of India owned enterprise. It used to be a subsidiary of Airtel as part of Bharti Enterprises which is an Indian business conglomerate with interests in telecommunication, agriculture, financial services, and manufacturing.

    Market Capitalisation

    As of March 2018, Bharti Infratel Limited has a market capitalisation of about Rs.63,200 crore.

    Wealth and recent performance

    Q1 Results FY 2018–2019

    From the financial results for the first quarter of the financial year 2018–2019, we can observe the following:

    • The total revenue of the company rose from Rs.3,662.2 crore in the previous quarter to Rs.3,673.5 crore in the current quarter.
    • The EBITDA decreased from Rs.1,605.6 crore in the previous quarter to Rs.1,520.5 crore in the current quarter. The EBITDA margin percentage decreased from 43.8% in the previous quarter to 41.4% in the current quarter.
    • The profit before tax increased to Rs.1,070.1 crore in the current quarter, up from Rs.1,052.9 crore in the previous quarter. The profit after tax too increased to Rs.638 crore in the current quarter, up from Rs.606 crore in the previous quarter.
    • The net profit margin rose from 16.5% in the previous quarter to 17.4% in the current quarter.
    • The capital expenditure of the company reduced from Rs.578.3 crore in the previous quarter to Rs.516.3 crore in the current quarter.
    • Operating free cash flow decreased from Rs.1,015.9 crore in the previous quarter to Rs.991.5 crore in the current quarter.
    • Net cash increased from Rs.5,170.8 crore in the previous quarter to Rs.5,546.2 crore in the current quarter.

    Annual report for the financial year 2017–2018

    From the annual report released by the company for the financial year ending March 2018 which informs us about the consolidated financials, we can observe the following:

    • The total revenue of the company rose to Rs.14,489.6 crore from Rs.13,423.7 crore at the close of the previous financial year.
    • The EBIDTA increased from Rs.5,942 crore in the previous financial year to Rs.6,427.2 crore in the current year.
    • While profit before tax increased from Rs.4,221.1 crore in FY17 to Rs.4226.2 crore in FY18, profit after tax decreased to Rs.2,493.7 crore in FY18 down from Rs.2,747 crore in FY17.
    • The capital expenditure of the company rose minimally from Rs.2,178.8 crore in FY17 to 2,182 crore in FY18.
    • The operating cash free flow rose a lot from Rs.3,720.9 crore in the previous financial year to Rs.4,202.1 crore in the current financial year.
    • The net cash increased from Rs.3,512.7 crore in the FY17 to Rs.5,170.8 crore in the FY18.
    • The EBIDTA margin percentage rose by 0.1% to 44.4% in the FY18.
    • The net profit margin decreased from 20.5% in the FY17 to 17.2% in the FY18.
    • The sharing revenue per tower per month increased to Rs.82,094 in the FY18 from Rs.78,318 in the previous financial year. In addition to this, the total number of towers operated by the company rose from 90,646 at the end of the FY17 to 91,451 at the end of the FY18.

    Q4 Results FY 2017–2018

    The quarterly report released by the company for the quarter ending March 2018 which was the final quarter for the financial year spanning 2017–2018 indicates the following:

    • The revenue of the company was Rs.3,662.2 crore. This was a slight increase from the revenue in the previous quarter at Rs.3,655.3 crore.
    • The profit before tax for the given time period was Rs.1,052.9 crore. This was a solid increase from the profit before tax for the preceding quarter at Rs.1,007.2 crore.
    • The profit after tax was Rs.606 crore compared to Rs.585.4 crore in the preceding quarter.
    • In more good news, the company’s capital expenditure reduced to Rs.578.3 crore, down from Rs.631.3 crore in the previous quarter. This is significant because this indicates that the company has managed to reduce its expenses. Reduced expenses can help lead to increased profits.
    • The net cash held by the company increased to Rs.5,170.8 crore from Rs.4,830.8 crore in the previous quarter.

    Q3 and other past results for FY 2017–2018

    • According to the audited consolidated results, the company had a total income of Rs.17,163 million in the third quarter of FY18 which was up from the total income in the previous quarter which was Rs.16,738 million.
    • In the previous financial year, the company had a total income of Rs.15,478 million in the third quarter. Thus, we can see that the company has shown an increase in total income.
    • The total expenses incurred by the company in the third quarter of the FY18 was Rs.8,844 million which was also up from the total expenses incurred by the company in the previous quarter which was Rs.8,609 million.
    • The total expenses incurred by the company in the third quarter of the previous financial year was Rs.8,188 crore.
    • The total profit before tax for the third quarter of FY18 was Rs.8,352 million which was a decrease from the total profit before tax in the previous quarter which was Rs.8,973 million.
    • In the third quarter of the FY17, the company made a total profit before tax of Rs.8,824 million.
    • The company made a profit after tax of Rs.5,854 million in the third quarter of the FY 18 and Rs.6,384 million in the second quarter of the FY18. In the third quarter of FY17, the company made a profit after tax of Rs.6,204 million.
    • The net segment assets as reported for the third quarter of the FY18 was Rs.1,89,759 million and the net segment liabilities as reported for the third quarter of the FY18 was Rs.25,835 million.
    • The assets had appreciated from Rs.1,82,971 million in the second quarter of FY18 and the liabilities had increased from Rs.24,552 million in the second quarter of FY18.

    Stock trend in 2018

    • In January 2018, the stock opened at about Rs.369. Over the next few days, the stock gained about Rs.10. During the third week of January 2018, the stock dipped to a low of about Rs.343. The stock closed for the month at about Rs.351.
    • In February 2018, the stock opened at about Rs.346. For the whole of February 2018, the stock remained below Rs.350. It closed for the month at about Rs.346.
    • In March 2018, the stock opened at about Rs.345. The stock dipped for the first week, with a low of about Rs.329. The stock gained in price again to reach a high of about Rs.349 but this did not last. Towards the last week of March, the stock reached about Rs.342. The closing price for the month of March 2018 was about Rs.338
    • The price of the stock did not vary much till about the second week of April 2018 at which point it began dipping. The stock closed for the month at about Rs.313. This was a big decrease from the price the stock opened at for the month.
    • The share price rose a little in May 2018 but did not recover to March levels. By the last week of May 2018, the stock began dipping even more and closed for the month at about Rs.298.
    • For most of June 2018, the price of the stock stayed below the Rs.300 mark. The final price for the month was about Rs.300.
    • After a minor dip in the initial days of July 2018, the stock price appeared to recover. The stock reached a high of about Rs.314 during the course of the second week of the month. After this, the stock declined in price. A final 140% dividend was announced on 19 July 2018. The stock closed for the month at about Rs.286.
    • The stock did not increase by much in August 2018. The stock continued to remain well below the Rs.300 mark. The final price for August was about Rs.286.

    Stock history (2016–2017)

    • Bharti Infratel Limited’s stock began trading at about Rs.430 in January 2016. The stock then dropped for the first three weeks with the lowest price during the period being about Rs.353. The stock closed for the month at about Rs.361. In February 2016, the stock opened at about Rs.369. The stock then fluctuated between Rs.350 and Rs.390 for the rest of the month. The stock closed for the month at about Rs.356. In March 2016, the stock opened at about Rs.374. The stock touched a high of about Rs.390 that month but closed for the month at about Rs.381.
    • The stock opened in April 2016 at about Rs.385. It dropped for the first week and fluctuated between a high of about Rs.396 and a low of about Rs.363 for the rest of the month. The stock closed at about Rs.374 for the month. In May 2016, the stock opened at about Rs.375. The stock alternatively gained and reduced in price over the course of the month, eventually peaking at about Rs.394. The stock then dropped again. The stock closed for the month at about Rs.374. The stock opened at about Rs.10 more at a little over Rs.384 in June 2016. There were two periods of steep decline in prices in June, with the lowest price of the stock being about Rs.322. The stock closed for the month at about Rs.345.
    • In July 2016, the stock opened at about Rs.350. The stock mostly gained through this month and closed at about Rs.395. The stock opened at about Rs.396 in August 2016. In August, a final dividend of 30% was announced by the company. The dividend announcement was followed by a steep decline in the stock price with the price going as low as about Rs.338. The stock closed for the month at about Rs.350. In September 2016, the stock opened at about Rs.343. The stock increased over the first week with a high of about Rs.357. The stock then declined over the course of the second week with a low of about Rs.342. The stock closed for the month at about Rs.365.
    • In October 2016, the stock opened at about Rs.362. During the first week, the stock gained in price, peaking at about Rs.381. The stock then fluctuated over the rest of the month. This resulted in a drop with the final price for the month being about Rs.347. In November 2016, the stock opened at about Rs.355. The highest price reached by the stock for the month was about Rs.387. The stock closed for the month at about Rs.375. The stock opened at about Rs.386 in December 2016. The stock then dropped over the rest of the month with a low of about Rs.326. The stock closed for the month at about Rs.343.
    • In January 2017, the stock opened at about Rs.344. The stock then proceeded with a number of minor increments to touch a high of about Rs.358 within the first three weeks. The stock plunged towards the close of the month with a final price of about Rs.293. The stock opened at about Rs.294 in February 2017. The stock had a number of small increments with a peak of about Rs.323 in the month. The stock then dipped again to close for the month at about Rs.284. In March 2017, the stock opened at about Rs.288. The stock gained steadily over the rest of the month to close at about Rs.325. An interim dividend of 120% was announced at the end of March 2017.
    • The stock fluctuated throughout April 2017 with a high of about Rs.375 and closed for the month at about Rs.354. This was the same price the stock opened at in May 2017. The stock gained throughout May 2017 but dipped in the last week to about Rs.366. This was an increase from the price the stock opened at that month. The highest price for the month of April was about Rs.375. In June 2017, the stock opened at about Rs.376. The stock gained in price for the first two weeks with a high of about Rs.386. The stock then declined a little towards the end of the month closing at about Rs.374. The highest price for the stock in the month of June 2017 was about Rs.386.
    • The stock gained in price to open at about Rs.397 in July 2017. The stock gained in July to peak at about Rs.420. The stock then declined slightly in price. A final 40% dividend was announced on 20 July, 2017. The stock closed at about Rs.401 for the month. In August 2017, the stock opened at about Rs.403. The stock gained in price in the initial days of the month but declined again. The price did not breach the Rs.400 mark again for the rest of the month. The stock closed at about Rs.375 at the end of the month. In September 2017, the stock opened at about Rs.379. This was followed by a mild decline for the first two weeks in which the stock touched a low of about Rs.370. The stock then recovered again to close for the month at about Rs.398. The stock did not breach the Rs.400 mark for that month. The highest price for the month was about Rs.398.
    • In October 2017, the stock opened at about Rs.398. This was followed by a period of increase during which the stock achieved a high of about Rs.479. After this, the stock declined to end the month at about Rs.442. In November 2017, the stock opened at about Rs.426. There was a steep decline in the stock price in the second week of November. The lowest price during that time was about Rs.377. The stock then underwent minor fluctuations in price. The stock declined for the rest of the month, closing at about Rs.383. In December, the stock opened at about Rs.385. The stock remained below that price for the rest of the month. The highest price after the opening price for that month was about Rs.382. There was another mildly steep decline in prices over the second week. Then, with minor fluctuations the stock peaked at about Rs.378 at which price it closed for the month.

    Should one invest in Bharti Infratel Limited?

    • Bharti Infratel Limited has adopted green and sustainable practices in all its operations, causing it to be awarded the Green Initiative of the Year 2016 title.
    • In 2016, Bharti Infratel won the Top Telecom Tower Company of the Year 2016 award.
    • In 2017, the company was awarded the Gold Award – Business Excellence Framework-2017.
    • The company received the Golden Peacock Award for Risk Management at the Singapore Global Convention.
    • The company has shown strong and forward thinking CSR activities in providing water and ensuring sanitation.
    • In 2018, the company again won the Gold Award – Business Excellence Framework-2018.
    • The total number of towers operated by the company increased over 2017–2018 and the revenue per month from each tower also showed a strong increase.
    • The company has achieved a solid profit in each of the last two quarters.
    • The total income of the company in FY18 was greater than the total income of the company in the FY17. This indicates potential for profits.
    • The company provides telecom infrastructure for other companies indicating that it has a strong hold over the sector. This also implies that the company has a number of good sites at which it has built towers for telecommunication operations, resulting in a constant source of revenue for the company.
    • All of these awards indicate that the company is a well-performing company with a strong and positive public image.
    • While these can indicate good signs for a person who is interested in investing in stocks of Bharti Infratel, it would be better to do personal research based on financial freedom and risk appetites before investing.

    Company information

    In India, Infratel boasts of over 39,000 towers which are spread across 18 states and 11 telecom circles. The company aims to build businesses that impact society positively. The company is a pioneer of the Shared Tower Telecom Infrastructure services. The company provides tower infrastructure services. The towers installed by Bharti Infratel Limited are of two types—ground-based and roof-top.

    Company History

    Infratel was an Airtel subsidiary in the 1990s and early 2000s. In 2007, Bharti Infratel was established as a separate tower company. This was done in order to provide savings to telecom service providers by using Airtel’s large tower base. In the latter part of 2007, Bharti Infratel, Vodafone, and Aditya Birla telecom formed a joint venture, creating Indus Towers in which Infratel has about a 42% stake.

    Management

    Mr. Akhil Gupta is the Chairman of the Board. Mr. Devender Singh Rawat is the Managing Director and Chief Executive Officer. Other than these two key people, the company has nine Independent and Non-Executive Directors.

    Listing information

    Bharti Infratel Limited’s shares are traded on the BSE and the NSE.

    BSE: 534816; NSE: INFRATELEQ; ISIN code: INE121J01017; Sector: Infrastructure; Industry: Infrastructure - General

    Bharti Infratel Limited also forms a part of indices like, Nifty 50, S&P BSE 500, et cetera.

    It is also listed on the MCX Stock Exchange.

    Location

    Registered office

    Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase II, New Delhi – 110 070, India.

    Ph: +91 11 46666100

    Fax: +91 11 46666137

    Bharti Infratel Limited, 901, Park Centra, Sector 30, NH – 8, Gurugram, Haryana – 122 001, India.

    Ph: +91 124 4132600

    Fax: +91 124 4109580

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    DISCLAIMER:

    The contents of this post/blog does not constitute financial or other professional advice nor does it imply in any manner a principal-agent relationship, and is not a professional advice on a specific financial matter.

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