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AGR dues: DoT's proposal a boost for Bharti Airtel and Vodafone Idea

Cash flows to absorb Africa impact amid weak crude oil prices and rupee

Ram Prasad Sahu 

The move by the Department of Telecommunications seeking a staggered 20-year payment of dues related to adjusted gross revenues (AGR) is positive for listed telecom players, such as Bharti Airtel and Vodafone Idea.

The move would require Airtel and Voda Idea to pay Rs 1,700 crore and Rs 4,100 crore, respectively, every year (including interest cost of 8 per cent) over the moratorium period. Analysts at Motilal Oswal Financial Services say Airtel with an annual free cash flow for FY21 estimated at Rs 12,600 crore, along with a net debt to operating profit of at 2.6 times (post AGR ...

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First Published: Mon, March 16 2020. 23:12 IST
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