Revenue and Operating Performance
Altius Telecom’s net sales have shown a consistent upward trend, rising from ₹7,476.70 crores in March 2020 to ₹19,580.90 crores by March 2025. This represents a compound growth trajectory, with particularly strong acceleration in the last two years. The company’s operating income mirrors this growth, as total operating income increased from ₹7,476.70 crores in 2020 to ₹19,580.90 crores in 2025, reflecting an expanding business scale.
Operating profit before depreciation and interest (PBDIT) excluding other income has also improved markedly, climbing from ₹2,856.40 crores in 2020 to ₹7,983.30 crores in 2025. The operating profit margin has remained healthy, improving from 38.2% in 2020 to 40.77% in 2025, indicating effective cost management alongside revenue growth.
Despite the absence of raw material costs, the company’s manufacturing expenses have increased in line with sales, reaching ₹10,748.50 crores in 2025 from ₹4,587.80 crores in 2020. Employee costs have also risen, reflecting workforce expansion and increased operational complexity.
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Profitability and Margins
Altius Telecom’s profit before tax (PBT) has rebounded from significant losses in 2020 and 2021, where it recorded negative ₹2,113.40 crores and ₹983.00 crores respectively, to positive territory in subsequent years. By March 2025, PBT stood at ₹923.80 crores. Correspondingly, profit after tax (PAT) improved from a loss of ₹2,113.40 crores in 2020 to a profit of ₹839.90 crores in 2025.
The PAT margin has recovered from a negative 28.27% in 2020 to a positive 4.29% in 2025, reflecting the company’s successful efforts to restore profitability. Earnings per share (EPS) followed a similar pattern, moving from zero in 2020 to ₹2.69 in 2025, with a peak EPS of ₹4.29 recorded in 2024.
Interest expenses have remained substantial, increasing from ₹3,203.90 crores in 2020 to ₹3,629.90 crores in 2025, which continues to weigh on net profitability. Depreciation charges have also risen steadily, consistent with the company’s growing asset base.
Balance Sheet and Financial Position
The company’s total assets have expanded from ₹44,096 crores in 2020 to ₹74,734.20 crores in 2025, driven by significant investments in fixed assets. The gross block increased from ₹40,504.40 crores to nearly ₹70,000 crores over the same period, with net block assets rising accordingly.
Shareholder’s funds have fluctuated, peaking at ₹20,092.80 crores in 2021 before declining to ₹15,064.40 crores in 2025. This decline is influenced by negative reserves, which have deepened from ₹-1,040.20 crores in 2020 to ₹-16,232.90 crores in 2025, reflecting accumulated losses and other adjustments.
Long-term borrowings have increased substantially, from ₹22,819.40 crores in 2020 to ₹41,645.60 crores in 2025, indicating a reliance on debt financing to support expansion. Total debt rose from ₹25,824.40 crores to ₹43,635.80 crores during this period. Current liabilities have also increased but remain manageable relative to current assets.
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Cash Flow Trends
Operating cash flow has shown a strong upward trajectory, increasing from ₹3,006 crores in 2020 to ₹7,066 crores in 2025. This improvement underscores enhanced operational efficiency and cash generation capability. However, cash flow from investing activities has been consistently negative, reflecting ongoing capital expenditure and asset acquisitions, with a notable outflow of ₹11,056 crores in 2025.
Financing activities have fluctuated, with a significant inflow of ₹4,367 crores in 2025 following a large outflow in 2024. The net cash inflow remains positive but modest, indicating a balanced approach to managing liquidity and funding requirements. Closing cash and cash equivalents have increased to ₹1,023 crores in 2025, providing a reasonable liquidity buffer.
Outlook and Considerations
Altius Telecom’s historical performance reveals a company that has successfully navigated through challenging periods marked by losses and high debt levels to achieve sustained revenue growth and return to profitability. The steady improvement in operating margins and cash flows suggests operational resilience, although the elevated debt burden and negative reserves warrant cautious monitoring.
Investors should weigh the company’s strong revenue momentum and improving profitability against the financial leverage and capital expenditure commitments. The evolving balance sheet and cash flow dynamics will be critical to watch as Altius Telecom continues its growth trajectory in the competitive telecom sector.
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