Vodafone Idea Ltd (VIL) has called an analyst meet on September 23 amid market concerns over the implications of the Supreme Court’s order on Adjusted Gross Revenue (AGR).
“Vodafone Idea Ltd will host a conference call with its senior management on Monday, September 23, from 2.30pm to 3.00pm to provide an update on the recent developments,” the telco said in a regulatory filing on Friday.
Participants will include Akshaya Moondra, chief executive officer, and Murthy GVAS, chief financial officer, apart from the senior management team.
The VIL stock on Friday ended with gains of around a per cent at ₹10.48 after crashing almost 6 per cent to a day’s low of ₹9.79 on the BSE.
The top court had dismissed a batch of pleas filed by companies, including Vodafone Idea and Bharti Airtel, seeking the correction of alleged errors in the AGR.
The development raised concerns over VIL’s plans to raise close to ₹25,000 crore of debt. However, reports have indicated that the verdict is unlikely to have any adverse impact on the proposed fund raising.
“AGR relief is crucial for VIL and we await industry’s next steps. In absence of AGR relief, VIL could face financial crisis in 2HFY26/FY27, when annual spectrum and AGR payments to the government of $4-5 billion per annum become due,” CLSA said in a note on Thursday.
A Macquarie report said that Vodafone-Idea’s net debt was $28 billion in the first quarter of 2024-25, including AGR liability of $8.5 billion.
“Tariff outlook has been improving, but without AGR concessions, it would take at least 25-30 years (15 per cent ARPU CAGR) for Vi to organically pay back its obligations,” the brokerage added.
