📡 After years of financial stress, Vodafone Idea is finally showing signs of operational improvement.
The company reported steady growth in FY26:
• Revenue increased to ₹44,873 crore
• EBITDA grew to ₹19,003 crore
• ARPU improved 8.3% YoY to ₹190
• Bank debt reduced sharply from ₹2,326 crore to ₹726 crore
• 5G rollout expanded to 80+ cities across key circles
One of the biggest positives was the improvement in subscriber trends, with monthly additions turning positive from February 2026 onwards.
The AGR reassessment also provided major relief, significantly reducing the company’s liability burden and strengthening the balance sheet.
However, the road ahead is still challenging.
India’s telecom sector remains highly competitive, and Vodafone Idea will need sustained capital investment, stronger customer retention, and continued network expansion to regain market share meaningfully.
What stands out is that FY26 appears to be a year of stabilization and rebuilding rather than a complete turnaround.
The next few quarters will be crucial in determining whether the company can convert operational momentum into long-term financial strength.
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