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Vodafone Idea Ltd.

Company Background

Idea Cellular is a major mobile phone service operator in India and ranked third in the country by subscriber numbers. It belongs to the Aditya Birla Group, one of the three largest conglomerates in India.

Founded in 1995, Idea was managed for some time as a company jointly owned by Birla, the Tata Group, another top Indian conglomerate, and the AT&T Group of the U.S. AT&T subsequently withdrew its capital from Idea and Tata sold its equity stake in 2006 because it established a telecom company.

As a result, Birla has placed Idea under its management. Idea acquired its rival Spice Communications in 2008 and has kept expanding its market presence to become India's third largest mobile carrier after Bharti Airtel and Vodafone. It has been winning new subscribers by promoting third-generation mobile phone services in rural areas.

Aditya Birla Nuvo, the core company of the Birla group, is Idea's biggest shareholder. Other group companies, such as Hindalco Industries and Grasim Industries, are also major stakeholders. The Birla group as a whole owns a nearly 40% stake in Idea.

Nearly 20% of Idea is also owned by the Axiata Group, a Malaysia telecom company.

Business Summary

Vodafone Idea Ltd. engages in the provision of telecommunication services. It provides pan India voice and data services across 2G, 3G and 4G platform. The company was founded on March 14, 1995 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2023 INRUSD
Gross Profit-50,945M-633.91M
Operating income-63,140M-785.65M
Income before tax-292,981M-3,645.58M
Net income-293,011M-3,645.95M
Diluted EPS-8.43-0.10
Dividends Per Share00
Total Assets2,300.40B27,991.36M
Total liabilities3,043.99B37,039.40M
Total equity-743,591M-9,048.04M
Operating cash flow168,688M2,098.99M
Currency in INRCurrency in USD

Historical Data

 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 370,273M 449,346M 419,476M 385,085M 421,597M
Gross Profit -84,945M -74,302M -51,035M -63,542M -50,945M
Operating income -104,799M -94,597M -66,958M -76,224M -63,140M
Income before tax -184,461M -621,523M -444,848M -282,353M -292,981M
Net income -146,286M -739,049M -442,331M -282,454M -293,011M
EBITDA 40,550M 148,955M 169,420M 159,619M 167,357M
Diluted EPS -21.16 -27.25 -15.40 -9.82 -8.43
Dividends Per Share 0 0 0 0 0
Total Assets 2,296.99B 2,269.19B 2,034.80B 1,940.29B 2,300.40B
Total liabilities 1,700.64B 2,209.39B 2,417.08B 2,559.93B 3,043.99B
Total equity 596,348M 59,799M -382,280M -619,648M -743,591M
Operating cash flow 6,101M -74,138M 131,053M 146,459M 168,688M
 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 5,293.94M 6,337.20M 5,650.64M 5,168.25M 5,245.95M
Gross Profit -1,214.49M -1,047.89M -687.47M -852.80M -633.91M
Operating income -1,498.35M -1,334.11M -901.97M -1,023.00M -785.65M
Income before tax -2,637.31M -8,765.45M -5,992.42M -3,789.48M -3,645.58M
Net income -2,091.51M -10,422.94M -5,958.52M -3,790.83M -3,645.95M
EBITDA 579.76M 2,100.73M 2,282.21M 2,142.26M 2,082.43M
Diluted EPS -0.30 -0.38 -0.20 -0.13 -0.10
Dividends Per Share 0 0 0 0 0
Total Assets 33,157.63M 29,995.48M 27,830.68M 25,605.95M 27,991.36M
Total liabilities 24,549.21M 29,205.02M 33,059.25M 33,783.42M 37,039.40M
Total equity 8,608.41M 790.45M -5,228.56M -8,177.47M -9,048.04M
Operating cash flow 87.22M -1,045.58M 1,765.37M 1,965.63M 2,098.99M

Valuation Measures

Mar 2023
Operating margin-14.97%
Profit margin-69.50%


  • Chief Executive Officer: Akshaya Moondra
  • Chief Operating Officer: Abhijit Kishore
  • CFO, EVP, Head-Taxation & Financial Controller: Murthy Gvas
  • Chief Technology Officer: Jagbir Singh
  • Secretary & Compliance Officer: Pankaj Kapdeo


  • Government of India (33.1%)
  • Vodafone Group Plc (31.2%)
  • Grasim Industries Ltd. (6.8%)
  • Oriana Investments Pte Ltd. (6.1%)
  • Elaine Investments Pte Ltd. (1.7%)
  • Hindalco Industries Ltd. (1.5%)
  • IGH Holdings Pvt Ltd. (0.8%)
  • Aditya Birla Management Corp Pvt Ltd. (0.7%)
  • The Vanguard Group, Inc. (0.6%)
  • BlackRock Fund Advisors (0.2%)

Contact Details

  • Website:
  • Address: Birla Centurion, 10th Floor, Century Mills Compound, Mumbai, 400030, India
  • Phone: +91 79 6671-4000

Related Companies

  • Vodafone Idea Technology Solutions Ltd.
  • Vodafone Business Services Ltd.
  • You System Integration Pvt Ltd.
  • Vodafone Idea Shared Services Ltd.
  • Vodafone m-pesa Ltd.
  • Idea Cellular Ltd. /Cellular Towers/
  • Idea Telesystems Ltd.
  • Swinder Singh Satara & Co. Ltd.
  • Vodafone India Foundation
  • Idea Cellular Services Ltd.
  • Idea Cellular Towers Infrastructure Services Ltd.
  • Idea Cellular Towers Infrastructure Ltd.
  • Vodafone Idea Communication Systems Ltd.
  • Vodafone India Ltd.
  • YOU Broadband India Ltd.
  • Spice Communications Ltd.
  • Escorts Telecom Ltd
  • RPG Cellcom


  • RailTel Corp. of India Ltd.
Last Updated on 22 Sep, 2023

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