Despite narrowing of quarterly loss and healthy jump in ARPU, analysts do not see any major upside in Vodafone Idea<\/a> stock after going through its Q1 report card due to subscriber churn, capex needs and competitiveness. 说明筹资对Vi至关重要,它说电信的5 g发售短期内仍将是制约当前的现金息税前利润增长率(Rs 840亿)不足以有效地增加资本支出,大型即将到来的债务偿还(Rs 700亿)和延迟外部基金筹集。 尽管缩小季度亏损和健康的ARPU,分析师看不到任何重大好处沃达丰的想法股票经过第一季度报告卡由于用户流失,资本支出需求和竞争力。
Global brokerage Nomura said impending 5G rollouts by peers could lead to accelerated market share losses for the telco. It has maintained a 'reduce' rating on the stock with a target price of Rs 8, signalling a potential downside risk of around 9 per cent.
Stating that fund-raising is critical for Vi, it said the telco's 5G rollouts would remain constrained in the near term as the current cash EBITDA run-rate (Rs 84 billion) is insufficient to meaningfully increase capex, large upcoming debt repayments (Rs 70 billion) and also delays in external fund raise.
Domestic brokerage ICICI Securities<\/a>, which has maintained a target price of Rs 9, said VIL will have good cost savings from rental renegotiation with Indus Towers<\/a>, and SUC saving (3 per cent of AGR) on the purchase of 5G spectrum. \"Also, purchase of 5G spectrum ensures visibility for continued services and smooth technology transition for VIL, which was our biggest concern. However, aggressive deployment of 5G is dependent on VIL’s ability to raise more capital; while peers are gearing up for faster 5G deployment in India,\" it said.
For the quarter, Vodafone Idea reported a consolidated loss of Rs 7,295 crore against Rs 7,312 crore in the corresponding quarter last year. Aided by tariff hikes, Vodafone's Q1 revenue stood at Rs 10,410 crore, up 13.7 per cent YoY which was 1 per cent above Bloomberg consensus estimate. Vodafone Idea's ARPU for the quarter improved 23.4 per cent YoY to Rs 128, aided by tariff hikes.
The company's subscriber base declined to 24.04 crore compared with 24.38 crore in March quarter. Subscriber churn was marginally higher at 3.5 per cent compared with 3.4 per cent in the June quarter.
Kotak Institutional Equities said healthy ARPUs were offset by higher other expenses. It is worried over the uncertainty on the path of value creation and large potential dilution from likely conversion of AGR and spectrum dues in the coming years.
Motilal Oswal<\/a>, which has maintained a neutral rating on the stock, said the significant amount of cash required to service debt leaves limited upside opportunities for equity holders, despite the high operating leverage opportunity from any source of ARPU increase. \"The current low EBITDA will make it challenging to service debt without an external fund infusion. Assuming 9.8x EV\/EBITDA, with a net debt Rs 1,982 billion, leaves a limited opportunity for equity shareholders,\" it said.
Vodafone Idea shares have lost over 43 per cent of its value so far in the year 2022.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)<\/em>
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不希望留给沃达丰的想法一季度财报后投资者吗?这是街景
全球经纪公司野村说即将到来的5 g rollout的同行可能会导致加速电信市场份额的损失。它一直保持着“减少”股票的评级和目标价的Rs 8,信号的潜在下行风险9%左右。
说明筹资对Vi至关重要,它说电信的5 g发售短期内仍将是制约当前的现金息税前利润增长率(Rs 840亿)不足以有效地增加资本支出,大型即将到来的债务偿还(Rs 700亿)和延迟外部基金筹集。
第二季度,沃达丰想法合并亏损7295卢比对去年相应季度的7312卢比。由于关税上涨,沃达丰的第一季度收入10410卢比,同比增长13.7%,高出1%彭博估计共识。沃达丰(Vodafone)想法的ARPU季度同比提高23.4% Rs 128年,由于关税上调。
公司的用户数量下降至24.04卢比的相比,在3季度24.38卢比。用户流失略高于3.5%,而6月季度的3.4%。
科塔克机构股票表示健康的arpu抵消更高的其他费用。这是担心的道路上创造价值的不确定性和大型潜在稀释可能在未来几年AGR和频谱转换费。
Motilal Oswal,维持中性评级股票,表示所需的大量的现金偿债叶子上涨空间有限股权持有者的机会,尽管从任何来源的ARPU高杠杆操作的机会增加。“目前低EBITDA将使它具有挑战性的偿债没有外部资金注入。假设9.8 x EV / EBITDA,净负债1.982万亿卢比,叶子股票股东的机会有限,”它说。
沃达丰股票已经贬值超过43%的想法到目前为止,在2022年。
(免责声明:建议,建议,观点和意见的专家。这些不代表经济时期的观点)
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Despite narrowing of quarterly loss and healthy jump in ARPU, analysts do not see any major upside in Vodafone Idea<\/a> stock after going through its Q1 report card due to subscriber churn, capex needs and competitiveness.
Global brokerage Nomura said impending 5G rollouts by peers could lead to accelerated market share losses for the telco. It has maintained a 'reduce' rating on the stock with a target price of Rs 8, signalling a potential downside risk of around 9 per cent.
Stating that fund-raising is critical for Vi, it said the telco's 5G rollouts would remain constrained in the near term as the current cash EBITDA run-rate (Rs 84 billion) is insufficient to meaningfully increase capex, large upcoming debt repayments (Rs 70 billion) and also delays in external fund raise.
Domestic brokerage ICICI Securities<\/a>, which has maintained a target price of Rs 9, said VIL will have good cost savings from rental renegotiation with Indus Towers<\/a>, and SUC saving (3 per cent of AGR) on the purchase of 5G spectrum. \"Also, purchase of 5G spectrum ensures visibility for continued services and smooth technology transition for VIL, which was our biggest concern. However, aggressive deployment of 5G is dependent on VIL’s ability to raise more capital; while peers are gearing up for faster 5G deployment in India,\" it said.
For the quarter, Vodafone Idea reported a consolidated loss of Rs 7,295 crore against Rs 7,312 crore in the corresponding quarter last year. Aided by tariff hikes, Vodafone's Q1 revenue stood at Rs 10,410 crore, up 13.7 per cent YoY which was 1 per cent above Bloomberg consensus estimate. Vodafone Idea's ARPU for the quarter improved 23.4 per cent YoY to Rs 128, aided by tariff hikes.
The company's subscriber base declined to 24.04 crore compared with 24.38 crore in March quarter. Subscriber churn was marginally higher at 3.5 per cent compared with 3.4 per cent in the June quarter.
Kotak Institutional Equities said healthy ARPUs were offset by higher other expenses. It is worried over the uncertainty on the path of value creation and large potential dilution from likely conversion of AGR and spectrum dues in the coming years.
Motilal Oswal<\/a>, which has maintained a neutral rating on the stock, said the significant amount of cash required to service debt leaves limited upside opportunities for equity holders, despite the high operating leverage opportunity from any source of ARPU increase. \"The current low EBITDA will make it challenging to service debt without an external fund infusion. Assuming 9.8x EV\/EBITDA, with a net debt Rs 1,982 billion, leaves a limited opportunity for equity shareholders,\" it said.
Vodafone Idea shares have lost over 43 per cent of its value so far in the year 2022.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)<\/em>
<\/p><\/body>","next_sibling":[{"msid":93374661,"title":"Tensions with U.S. spur Chinese buying of chipmaking stocks","entity_type":"ARTICLE","link":"\/news\/tensions-with-u-s-spur-chinese-buying-of-chipmaking-stocks\/93374661","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"93371286","title":"No hope left for Vodafone Idea investors after Q1 earnings? Here's the Street view","entity_type":"IMAGES","seopath":"markets\/stocks\/news\/no-hope-left-for-vodafone-idea-investors-after-q1-earnings-heres-the-street-view","category_name":"No hope left for Vodafone Idea investors after Q1 earnings? Here's the Street view","synopsis":false,"thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-73406\/93371286.cms?width=150&height=112","link":"\/image\/markets\/stocks\/news\/no-hope-left-for-vodafone-idea-investors-after-q1-earnings-heres-the-street-view\/93371286"}],"msid":93374936,"entity_type":"ARTICLE","title":"No hope left for Vodafone Idea investors after Q1 earnings? Here's the Street view","synopsis":"Stating that fund-raising is critical for Vi, it said the telco's 5G rollouts would remain constrained in the near term as the current cash EBITDA run-rate (Rs 84 billion) is insufficient to meaningfully increase capex, large upcoming debt repayments (Rs 70 billion) and also delays in external fund raise.","titleseo":"telecomnews\/no-hope-left-for-vodafone-idea-investors-after-q1-earnings-heres-the-street-view","status":"ACTIVE","authors":[{"author_name":"Nikhil Agarwal","author_link":"\/author\/479254346\/nikhil-agarwal","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479254346.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479254346,"author_name":"Nikhil Agarwal","author_seo_name":"nikhil-agarwal","designation":"Assistant Editor","agency":false}}],"analytics":{"comments":0,"views":843,"shares":0,"engagementtimems":4215000},"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2022-08-05 18:53:53","lastupd":"2022-08-05 18:54:28","breadcrumbTags":["vodafone idea","vodafone idea q1 earnings","vodafone idea q1","vodafone idea q1 results","Vodafone Idea Q1 shares","icici securities","motilal oswal","vodafone idea","indus towers","Industry"],"secinfo":{"seolocation":"telecomnews\/no-hope-left-for-vodafone-idea-investors-after-q1-earnings-heres-the-street-view"}}" data-news_link="//www.iser-br.com/news/no-hope-left-for-vodafone-idea-investors-after-q1-earnings-heres-the-street-view/93374936">
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