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Vodafone Idea Ltd

BSE Code : 532822 | NSE Symbol : IDEA | ISIN:INE669E01016| SECTOR : Telecomm-Service |

NSE BSE
 
SMC up arrow

8.45

0.00 0.00 Volume 280564

20-Apr-2021 EOD

Prev. Close

8.45

Open Price

8.50

Bid Price (QTY)

8.45(810197)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 8.65 - 8.30

52 wk High/Low 13.80 - 3.60

Key Stats

MARKET CAP (RS CR) 24223.93
P/E 0
BOOK VALUE (RS) -8.3346394
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK -1.01144147879991
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 26.22
4

News & Announcements

08-Apr-2021

Vi Business launches Integrated IoT solutions for enterprises

08-Apr-2021

Vodafone Idea Ltd - Vodafone Idea Limited - Press Release

07-Apr-2021

OnMobile Global Ltd Spurts 5%, S&P BSE Telecom index Rises 1.2%

06-Apr-2021

Vodafone Idea Ltd - Vodafone Idea Limited - Disclosure under SEBI Takeover Regulations

08-Apr-2021

Vi Business launches Integrated IoT solutions for enterprises

25-Feb-2021

Board of Vodafone Idea approves change in directorate

08-Feb-2021

Vodafone Idea to table results

23-Oct-2020

Vodafone Idea to announce Quarterly Result

Corporate Actions

Bonus
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Board Meeting
AGM
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Financials

Income Statement

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Peers Comparsion

Select Company Name BSE Code NSE Symbol
Bharti Airtel Ltd 532454 BHARTIARTL
Mahanagar Telephone Nigam Ltd 500108 MTNL
Nettlinx Ltd 511658
OnMobile Global Ltd 532944 ONMOBILE
Quadrant Televentures Ltd 511116
Railtel Corporation of India Ltd 543265 RAILTEL
Rajasthan Telephone Industries Ltd 517103
Reliance Communications Ltd 532712 RCOM
Spice Communications Ltd(merged) 532863 SPICETELE
Tata Communications Ltd 500483 TATACOMM
Tata Teleservices (Maharashtra) Ltd 532371 TTML
Tejas Networks Ltd 540595 TEJASNET
Tulip Telecom Ltd 532691 TULIP
Uniinfo Telecom Services Ltd 535055 UNIINFO
Vital Communications Ltd 532325 VITALCOMM
We Internet Ltd 517534 NIVINFRA

Share Holding

Category No. of shares Percentage
Total Foreign 1903991291 6.63
Total Institutions 401166585 1.40
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 758201803 2.64
Total Promoters 20703918082 72.05
Total Public & others 4968111479 17.29
Total 28735389240 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Vodafone Idea Ltd

Idea Cellular Ltd. is the third largest wireless operator by subscribers in India with a Revenue Market Share of approximately 15.9% of the Indian mobile telecommunications services industry in Q3 December 2017. Idea Cellular is a pan-India integrated wireless broadband operator offering 2G, 3G and 4G services, and has its own National Long Distance (NLD) and International Long Distance (ILD) operations, and Internet service provider (ISP) license. With nearly 200 million subscribers, Idea ranks sixth in the global rankings of operators in subscriber terms, for single country operations. The company offers affordable and world-class mobile services to varied segments of mobile users. The company is an Aditya Birla Group Company. They offers basic voice and short message service (SMS) services to high-end value added and general packet radio service (GPRS) services, such as Blackberry, Datacard, Mobile TV and Games. Their subsidiaries include Swinder Singh Satara and Co Ltd, Aditya Birla Telecom Ltd, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd, Idea Cellular Towers Infrastructure Ltd and Carlos Towers Ltd. Idea Cellular Ltd was incorporated in the year 1995 with the name Birla Communications Ltd. The company obtained licenses for providing GSM-based services in the Gujarat and Maharashtra Circles following the original GSM license bidding process. In the year 1996, the company changed the name from Birla Communication Ltd to Birla AT&T Communications Ltd following joint venture between Grasim Industries and AT&T Corporation. In the year 1997, they commenced operations in the Gujarat and Maharashtra Circles. In the year 2000, the company merged with Tata Cellular Ltd, thereby acquired original license for the Andhra Pradesh Circle. In the year 2001, they acquired the RPG Cellular Ltd and consequently, they acquired the license for the Madhya Pradesh (including Chattisgarh) Circle. Also, they obtained the license for providing GSM-based services in the Delhi Circle following the fourth operator GSM license bidding process. The name of the company was changed from Birla Communications Ltd to Birla Tata AT&T Ltd. In the year 2002, the name of the company was further changed to Idea Cellular Ltd and also, they launched the 'Idea' brand name. They commenced commercial operation in Delhi circle. In June 3, 2002, they acquired Swinder Singh Satara & Company Ltd through a share purchase agreement. In the year 2004, the company acquired Escotel Mobile Communications Ltd (subsequently renamed as Idea Mobile Communications Limited). They commercially launched EDGE services 2005 and became the first operator in India to do so. In the year 2005, the company won an Award for the 'Bill Flash' service at GSM Association Awards in Barcelona, Spain. They sponsored the International Indian Film Academy Awards. In the year 2006, the company became a part of the Aditya Birla Group subsequent to the TATA Group transferring their entire shareholding in the company to the Aditya Birla Group. They received Letter of Intent from the DoT for a new UAS License for the Mumbai Circle. Also, they received Letter of Intent from the DoT for a new UAS License for the Bihar Circle through Aditya Birla Telecom Ltd. During the year 2006-07, the company commenced National Long Distance service to carry part of the Company's own traffic. They launched commercial mobile services in the service areas of Rajasthan, Uttar Pradesh (East) and Himachal Pradesh. They made Initial Public Offering and raised Rs 25,000 million. They won an award for the 'CARE' service in the 'Best Billing or Customer Care Solution' at the GSM Association Awards in Barcelona, Spain. During the year, the company entered into a ten years business transformation pact to integrate, innovate, and transform its business processes and IT infrastructure with International Business Machines (IBM). They signed USD 500 million contract with Nokia Siemens Networks to expand and strengthen the Company's network. Also, they singed a USD 343 million contract for GSM expansion with Ericsson in the Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and Himachal Pradesh service areas. In June 2006, Escorts Telecommunications Ltd became the subsidiary of the company and subsequently was renamed as Idea Telecommunications Ltd. In February 2007, they acquired 10,000,000 equity shares of Rs.10 each of Aditya Birla Telecom Ltd, a company holding License to operate in the telecom service area of Bihar, for a purchase consideration of Rs 100 million. During the year 2007-08, the company expanded their network from 4432 cities and towns to 13308 cities and towns. They formed three new subsidiaries namely, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd and Idea Cellular Tower Infrastructure Ltd. The main purpose of Idea Cellular Services Ltd is to provide manpower services to Idea Cellular and Idea Cellular Infrastructure Services Ltd & Idea Cellular Tower Infrastructure Ltd are meant for hiving off Idea's passive infrastructure network. In December 2007, the company in association with Bharti Airtel and Vodafone Essar formed a joint venture, namely Indus Tower to provide passive infrastructure services in India to all operators on a non discretionary basis. In February 2008, the company received the Unified Access Services Licences for the telecom service areas of Punjab, Karnataka, Tamilnadu including Chennai, North East, West Bengal, Kolkatta, Jammu & Kashmir, Orissa and Assam. During the year 2008-09, the company acquired 40.8% stake in Spice Communications Ltd (Spice), having operations in Punjab and Karnataka service areas, from MCorp Global Communications Pvt Ltd, the erstwhile promoters of Spice. They launched services in Mumbai, Orissa, Tamil Nadu (including Chennai), Jammu & Kashmir, Kolkata and West Bengal. In addition, Aditya Birla Telecom Ltd, a wholly owned subsidiary, launched operations in Bihar (including Jharkhand) service area. During the year, the company made a tie-up with Indian Oil Corporation, the largest petroleum company in India, to use their petrol pumps and gas agencies for branding and distribution of Idea SIM Cards and Recharge Vouchers. They were the first operator in India to launch Nokia Life Tools in association with Nokia. They launched 'International Airtime Transfer', a unique VAS service, whereby NRI community can directly recharge the prepaid mobiles of Idea subscribers in India through several international merchants and the web in Gulf, the USA and UK. During the year, the company launched NetSetter Data Cards and Blackberry solutions to cater to their data-savvy consumer segments. As per the scheme of arrangement, the company de-merged their passive infrastructure assets in the service areas of Andhra Pradesh, Delhi, Gujarat, Uttar Pradesh (both East & West including Uttarakhand), Haryana, Kerala, Rajasthan and Mumbai to Idea Cellular Towers Infrastructure Ltd, a wholly owned subsidiary, with an appointed date of January 1, 2009. During the year 2009-10, the company expanded their pan-India presence through service launches in Orissa, Tamil Nadu, Jammu & Kashmir, Kolkata, West Bengal, Assam and North East service areas, thereby making it a nationwide service provider. As one of Idea's new VAS activities, the company launched 'Buddy Recharge' - a unique peer-to-peer talk time transfer product. They also launched Oongli Cricket during the IPL season. During the year, the company launched a standardized self care portal 'CARE' which gives information to the customer on products/tariffs and information of their account such as billed amount, last recharge, last calls, unbilled amount, etc. They were the first operator to launch 'Pre Tones', which is an innovative VAS service which allows the user to listen to the caller tones of his/her own choice while making an outgoing call instead of listening to the respondent's caller tone. As per the scheme of arrangement, the company telecom operations of the Bihar service area along with certain assets and liabilities of Aditya Birla Telecom Ltd, a wholly owned subsidiary was de-merged and transferred to the company with effect from March 1, 2010. Spice Communications Ltd which had operations in the Punjab and Karnataka service areas, and licenses for National and International Long Distance operations was amalgamated with the company with effect from March 1, 2010. Also, Carlos Towers Ltd became a subsidiary company pursuant to the amalgamation of Spice Communications Ltd with the company. In April 2010, the company received a License for providing pan India Internet Services (ISP License). In the 3G Spectrum auction, the company emerged as a winner in 11 Service Areas viz. Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh (E), Uttar Pradesh (W), Madhya Pradesh, Himachal Pradesh and Jammu & Kashmir, at a total cost of Rs 5,768.59 crore. During the year under review, the company became a pan India operator following the roll out of services in the remaining service areas of Orissa, Tamilnadu (including Chennai), Jammu & Kashmir, West Bengal, Kolkata, North East and Assam. In January 20, 2011, the Company launched mobile number portability (MNP), an invite to all Indian mobile customers to change their wireless operator, while retaining their mobile number. In March, 2011 Company launched 3G services in 9 out of these 11 service areas. The Company also entered into bilateral roaming arrangement for the service areas of Mumbai, Bihar, Karnataka, Delhi, Kolkata and Tamil Nadu (including Chennai), with leading quality operators, enabling it to offer 3G services in 15 service areas. In 2012, Department of Telecom (DoT) has said that the proposal of Malaysia based Axiata group to raise 1 per cent stake in Idea cellular to 21 per cent would not create any fresh security threat for the country. The company bagged the prestigious World Communication Awards 2012 (WCA) under the Best Brand Campaign' category at the recently held awards ceremony in London. The company wins at the prestigious World Communication Awards 2012, second year consecutively. In 2013, the company Signs Unified License with the Department of Telecommunications -Idea Cellular introduces buffet plans for post-paid subscribers. In 2014, the company wins wins 900 MHz for Delhi, and 4G in 8 strategic markets. In 2015, Microsoft has tied with Idea Cellular to launch operator billing on the Windows Store for Idea subscribers. The company has successfully retained the crucial 900 MHz spectrum and won 54 MHz of 900 MHz spectrum. Videocon Telecommunications sold its spectrum in Gujarat and UP (West) circles to the company at a valuation of Rs 3,310 crore during the year. The company launches world-class, high-speed 4G LTE services in all four Telecom service areas of South India. The company launches 4G in all 5 states of South India, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana. In 2016, Idea Cellular launched 4G services across key markets viz. Madhya Pradesh & Chhattisgarh, Punjab, Haryana, Orissa, North East Service Area and Himachal Pradesh. During the year, the company won spectrum in FDD technology on 1800 and 2100 bands, and in TDD technology on 2300 and 2500 bands to achieve pan-India wireless broadband footprint. On 16 March 2016, Idea Cellular and Videocon Telecommunications Limited mutually agreed to terminate their earlier agreement regarding Transfer of Right to Use 1800 MHz Spectrum' in two service areas with immediate effect. Earlier, on 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications Limited (VTL) in the telecom service areas of Gujarat and U.P. (West) for an aggregate consideration of Rs 3310 crore (approx.), pursuant to the DoT Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015. The Board of Directors of Idea Cellular at its meeting held on 28 April 2016 decided to consolidate the company's business of providing tower infrastructure services through approximately 7,997 telecom towers that it owns and operates across India (Tower Infrastructure Undertaking) with its wholly owned subsidiary, Idea Cellular Infrastructure Services Limited (ICISL) which is engaged in the business of providing tower infrastructure services in Bihar and Orissa. To implement this transaction, a business transfer agreement will be executed between Idea Cellular and ICISL. ICISL will issue approximately 10,000 equity shares to Idea Cellular in consideration for the tower infrastructure undertaking. The transfer of the tower infrastructure undertaking to ICISL is expected to be completed within 3 to 6 months subject to obtaining requisite regulatory approvals. On 30 January, 2017, Idea Cellular announced the launch of 3 new exciting entertainment apps - Idea Music Lounge, Idea Movie Club, and Idea Game Spark. The new suite of integrated Digital Apps present one of the best range of entertainment content for its nearly 200 million customers. With the launch of Idea Music Lounge, Idea Movie Club and Idea Game Spark, the company has begun its transformation from a pure play mobile operator to an integrated digital services and solutions provider. On 20 March 2017, Idea Cellular and Vodafone Group Plc announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42% stake in Indus Towers) to create India's largest telecom operator. The combined company would become the leading communications provider in India with almost 400 million customers, 35% customer market share and 41% revenue market share. The brand strategy of the combined company will be developed in due course and will leverage customers' affinity for both existing brands, built up over the past decade. The name of the combined listed company will be changed in due course. The combined company will have sufficient spectrum to compete effectively with the other major operators in the market. It would hold 1,850 MHz, including circa 1,645 MHz of liberalised spectrum acquired through auctions. It will be capable of building substantial mobile data capacity, utilising the largest broadband spectrum portfolio with 34 3G carriers and 129 4G carriers across the country. Vodafone India's strong presence in metro circles and Idea's leadership in semi-urban and rural telecom markets will allow for nationwide leadership within Indian M&A guidelines. In circles where both Idea and Vodafone India currently have a limited presence, the combined entity will become the leading challenger with the scale to compete more effectively and enhance consumer choice. On 25 May 2017, Idea Cellular announced that it has completed pan-India 4G rollout with the launch of 4G services in Mumbai on 2100 MHz spectrum band. On 24 July, 2017, Idea Cellular announced that the Competition Commission of India has approved the proposed merger of Vodafone India, Vodafone Mobile Services Limited, and Idea Cellular under sub section (1) of section 31 of the Act. The transaction is expected to close during calendar year 2018 subject to customary approvals. On 14 September 2017, Idea Cellular announced that it has achieved a major milestone in its network growth journey. The company has rapidly expanded network to 260,000 sites across the country with 50% sites dedicated to mobile broadband services, establishing it as India's Big 4G network'. Idea added nearly 50,000 broadband sites over the last 12 months period ending August 2017, growing its broadband footprint to cover 5,888 Census towns and nearly 105,755 villages, reaching out to 45% population of the country. It has set up an optical fibre network of approximately 150,000 route kms to strengthen its wireless broadband services. On 13 November 2017, Idea Cellular and Vodafone India announced that they have separately agreed to sell their respective standalone telecom tower businesses in India to ATC Telecom Infrastructure Private Limited, a majority owned subsidiary of American Tower Corporation, for an aggregate enterprise value of Rs 7850 crore (USD 1.2 billion). The standalone telecom tower businesses of Idea Cellular and Vodafone India are pan-India passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at 30 June 2017. On 12 January 2018, Idea Cellular announced that the National Company Law Tribunal Bench at Ahmedabad vide its order dated 11 January 2018 has sanctioned the Composite Scheme of Amalgamation and Arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular and their respective shareholders and creditors. On 12 February 2018, Idea Cellular completed the allotment of 32.66 crore equity shares to the promoter Aditya Birla Group entities at an issue price of Rs 99.50 per share aggregating to Rs 3250 crore. As a result of this preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4% to 47.2%. On 23 February 2018, Idea Cellular announced the successful closure of its qualified institutions placement. The company issued and allotted approximately 42.42 crore equity shares of face value of Rs 10 each to qualified institutional buyers at an issue price of Rs 82.50 per equity share, aggregating to approximately Rs 3500 crore. This equity raise of Rs 3500 crore along with recent infusion of Rs 3250 crore by Idea's promoter/promoter group will reduce Idea's net-debt by approximately Rs 6750 crore.

Vodafone Idea Ltd Chairman Speech

Dear Shareholder,

Covid-19 and the associated lockdowns across countries have triggered a once-in-a-century crisis for the society and the economy in 2020. January now seems like a month of a bygone era — such has been the enormity of change. This is a defining period in human and business history: one that will test the resilience of individuals, societies, corporations, and nations.

Given the fog of uncertainty all around, it is hard to be prescient in these times. But there is little doubt on one reality: companies with quality leadership, sound business fundamentals, and a track record of winning in turbulent times, will emerge as champions in the new global order.

Global Economy

It has been several months since the pandemic engulfed the world and yet there is a lot of uncertainty with respect to the extent of the economic contraction due to this crisis, and the subsequent pace of recovery.

This year will see an economic contraction, but this 2020 recession is turning out very different from the past recessions. It has been too sudden - almost off the cliff; its spread has been all-encompassing - affecting almost every economy and sector, and the plunge in economic activity levels and employment has been unprecedented.

On the positive side, this recession is likely to be one of the shortest, assuming no second

wave of the pandemic recurs. As present lockdowns around the world get lifted, and businesses reopen, economic activity is likely to bounce back fairly quickly. Around $11-trillion stimulus from different governments globally will help to support this recovery, along with the monetary actions by Central banks. These policies will also help to restrict the second-order effects like defaults and bankruptcies.

Some scars of the crisis will remain in the form of subdued consumer and business confidence. Some sectors, like airlines and hospitality, will take time to recover fully. And some supply chain disruption effects will linger. The International Monetary Fund (IMF) and other agencies are predicting that it could take about 5-6 quarters for global GDP to inch back to pre-crisis levels, and the global economic trajectory thereafter will be below the Pre-COVID trajectory for the next few years.

As the world emerges from the current crisis, the next few years are likely to be marked by lack of buoyancy in growth, subdued commodity prices and inflation, a cautious trend in project investments, heightened risks of de-globalisation and political uncertainty; and increased dependence of financial systems on ultra-loose monetary policy conditions. We will also have to watch out for potential post-Covid changes in consumer behaviour (such as more virtual engagements) and of operating models of organisations (such as work-from- home norms, diversification of supply chain risks, more use of e-commerce).

Indian Economy

Covid-19 struck India at a time when the underlying economic conditions were subdued on account of heightened global uncertainty and stress in the domestic financial system.

Against this backdrop, a stringent national lockdown to slow the spread of the pandemic started in the last week of FY20 and remained active to varying degrees in different geographies through most of the Q1 of FY21. It is estimated

that about 80% of India's GDP originates from districts which were classified under the red and orange zones during the lockdown, where economic activity remained severely constrained. Correspondingly, India's GDP is likely to contract in FY21.

Responding to this challenge, both the Reserve Bank of India (RBI) and Government of India announced several policy measures to provide relief to the affected sections of the economy, to reduce the possibility of business failures and to support the process of recovery. In the interim, however, the Indian economy - like the global economy - will need to navigate through some difficult quarters.

Your Company's Performance

The merger of Vodafone India into your Company effective from August 31, 2018 led to the creation of Vodafone Idea Limited, a partnership between two strong promoters, Aditya Birla Group and Vodafone Group. Post-merger, your Company is one of the leading telecommunications operators in India offering voice, data, enterprise services and other Value-Added Services ("VAS"), including short messaging services, digital services, IoT etc. As of March 31, 2020, the subscriber base of your Company stands at 293.7 Mn (on VLR) with subscriber market share at 29.7%.

Through the course of FY20, the operating environment continued to remain challenging due to unsustainable pricing and hyper competition. The verdict on the long pending industry issue of Adjusted Gross Revenue (AGR) also added to the financial woes of telecom operators. Efforts from the Government of India to soften the financial burden by recommending payment through instalments has also been upheld by the Honourable Supreme Court.

The Department of Telecom also intervened to restore the financial health of all operators by way of a 2-year moratorium on spectrum payments. The telecom industry also witnessed the first round of tariff hike by all operators

in December 2019. However, tariffs are still very low and therefore pricing revival is critical for the long-term growth of the sector.

While the operating challenges remain, the increasing content consumption, especially through video, and social media usage is driving strong data demand as reflected in the higher data usage per customer. This will provide a significant opportunity to all the telecom operators as and when the pricing revives. Your Company with largest spectrum portfolio, large network investments in the form of network sites and optical fiber, wide distribution reach and strong customer affinity is very well positioned to be benefited in the evolving market place.

Your Company's primary focus in FY20 has been rapid acceleration of integration, which is now in final stages of completion. Your Company has fully realized the guided annualised merger related opex synergies of Rs. 84 Bn in the last quarter of the financial year ending March 31, 2020. Your Company has expanded its 4G population coverage to nearly 1 billion and more than doubled its capacity as of March 2020, compared to that at the time of merger in September 2018. All the network initiatives have led to improved network performance leading to superior customer experience. Your Company continues to focus on driving 4G penetration to increase ARPU. Further, your Company remains focused on strengthening its position on enterprise services, especially the new and fast-growing segment of IoT and cloud services. All these initiatives will improve revenue and profitability and subsequently strengthen your Company's overall competitive position in the market.

Outlook

The merger of Vodafone India and Idea Cellular, two large organizations with complementary strengths has opened multiple opportunities and allowed your Company to get

synergies across the board. Since merger, your Company has achieved several milestones ahead of the expected timelines.

Your Company continues to focus on execution of its stated strategy. Your Company has made significant 4G investments and continues to expand its coverage and capacity further. Your company is also embarking on a new brand identity to mark the culmination of the integration exercise bringing to customers the best of both brands. All the ongoing strategic initiatives will ensure that your company will continue to provide the best of customer experience to retail and enterprise customers and help in creating an agile and future- fit organization.

Yours Sincerely,

Kumar Mangalam Birla

   

Vodafone Idea Ltd Company History

Idea Cellular Ltd. is the third largest wireless operator by subscribers in India with a Revenue Market Share of approximately 15.9% of the Indian mobile telecommunications services industry in Q3 December 2017. Idea Cellular is a pan-India integrated wireless broadband operator offering 2G, 3G and 4G services, and has its own National Long Distance (NLD) and International Long Distance (ILD) operations, and Internet service provider (ISP) license. With nearly 200 million subscribers, Idea ranks sixth in the global rankings of operators in subscriber terms, for single country operations. The company offers affordable and world-class mobile services to varied segments of mobile users. The company is an Aditya Birla Group Company. They offers basic voice and short message service (SMS) services to high-end value added and general packet radio service (GPRS) services, such as Blackberry, Datacard, Mobile TV and Games. Their subsidiaries include Swinder Singh Satara and Co Ltd, Aditya Birla Telecom Ltd, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd, Idea Cellular Towers Infrastructure Ltd and Carlos Towers Ltd. Idea Cellular Ltd was incorporated in the year 1995 with the name Birla Communications Ltd. The company obtained licenses for providing GSM-based services in the Gujarat and Maharashtra Circles following the original GSM license bidding process. In the year 1996, the company changed the name from Birla Communication Ltd to Birla AT&T Communications Ltd following joint venture between Grasim Industries and AT&T Corporation. In the year 1997, they commenced operations in the Gujarat and Maharashtra Circles. In the year 2000, the company merged with Tata Cellular Ltd, thereby acquired original license for the Andhra Pradesh Circle. In the year 2001, they acquired the RPG Cellular Ltd and consequently, they acquired the license for the Madhya Pradesh (including Chattisgarh) Circle. Also, they obtained the license for providing GSM-based services in the Delhi Circle following the fourth operator GSM license bidding process. The name of the company was changed from Birla Communications Ltd to Birla Tata AT&T Ltd. In the year 2002, the name of the company was further changed to Idea Cellular Ltd and also, they launched the 'Idea' brand name. They commenced commercial operation in Delhi circle. In June 3, 2002, they acquired Swinder Singh Satara & Company Ltd through a share purchase agreement. In the year 2004, the company acquired Escotel Mobile Communications Ltd (subsequently renamed as Idea Mobile Communications Limited). They commercially launched EDGE services 2005 and became the first operator in India to do so. In the year 2005, the company won an Award for the 'Bill Flash' service at GSM Association Awards in Barcelona, Spain. They sponsored the International Indian Film Academy Awards. In the year 2006, the company became a part of the Aditya Birla Group subsequent to the TATA Group transferring their entire shareholding in the company to the Aditya Birla Group. They received Letter of Intent from the DoT for a new UAS License for the Mumbai Circle. Also, they received Letter of Intent from the DoT for a new UAS License for the Bihar Circle through Aditya Birla Telecom Ltd. During the year 2006-07, the company commenced National Long Distance service to carry part of the Company's own traffic. They launched commercial mobile services in the service areas of Rajasthan, Uttar Pradesh (East) and Himachal Pradesh. They made Initial Public Offering and raised Rs 25,000 million. They won an award for the 'CARE' service in the 'Best Billing or Customer Care Solution' at the GSM Association Awards in Barcelona, Spain. During the year, the company entered into a ten years business transformation pact to integrate, innovate, and transform its business processes and IT infrastructure with International Business Machines (IBM). They signed USD 500 million contract with Nokia Siemens Networks to expand and strengthen the Company's network. Also, they singed a USD 343 million contract for GSM expansion with Ericsson in the Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and Himachal Pradesh service areas. In June 2006, Escorts Telecommunications Ltd became the subsidiary of the company and subsequently was renamed as Idea Telecommunications Ltd. In February 2007, they acquired 10,000,000 equity shares of Rs.10 each of Aditya Birla Telecom Ltd, a company holding License to operate in the telecom service area of Bihar, for a purchase consideration of Rs 100 million. During the year 2007-08, the company expanded their network from 4432 cities and towns to 13308 cities and towns. They formed three new subsidiaries namely, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd and Idea Cellular Tower Infrastructure Ltd. The main purpose of Idea Cellular Services Ltd is to provide manpower services to Idea Cellular and Idea Cellular Infrastructure Services Ltd & Idea Cellular Tower Infrastructure Ltd are meant for hiving off Idea's passive infrastructure network. In December 2007, the company in association with Bharti Airtel and Vodafone Essar formed a joint venture, namely Indus Tower to provide passive infrastructure services in India to all operators on a non discretionary basis. In February 2008, the company received the Unified Access Services Licences for the telecom service areas of Punjab, Karnataka, Tamilnadu including Chennai, North East, West Bengal, Kolkatta, Jammu & Kashmir, Orissa and Assam. During the year 2008-09, the company acquired 40.8% stake in Spice Communications Ltd (Spice), having operations in Punjab and Karnataka service areas, from MCorp Global Communications Pvt Ltd, the erstwhile promoters of Spice. They launched services in Mumbai, Orissa, Tamil Nadu (including Chennai), Jammu & Kashmir, Kolkata and West Bengal. In addition, Aditya Birla Telecom Ltd, a wholly owned subsidiary, launched operations in Bihar (including Jharkhand) service area. During the year, the company made a tie-up with Indian Oil Corporation, the largest petroleum company in India, to use their petrol pumps and gas agencies for branding and distribution of Idea SIM Cards and Recharge Vouchers. They were the first operator in India to launch Nokia Life Tools in association with Nokia. They launched 'International Airtime Transfer', a unique VAS service, whereby NRI community can directly recharge the prepaid mobiles of Idea subscribers in India through several international merchants and the web in Gulf, the USA and UK. During the year, the company launched NetSetter Data Cards and Blackberry solutions to cater to their data-savvy consumer segments. As per the scheme of arrangement, the company de-merged their passive infrastructure assets in the service areas of Andhra Pradesh, Delhi, Gujarat, Uttar Pradesh (both East & West including Uttarakhand), Haryana, Kerala, Rajasthan and Mumbai to Idea Cellular Towers Infrastructure Ltd, a wholly owned subsidiary, with an appointed date of January 1, 2009. During the year 2009-10, the company expanded their pan-India presence through service launches in Orissa, Tamil Nadu, Jammu & Kashmir, Kolkata, West Bengal, Assam and North East service areas, thereby making it a nationwide service provider. As one of Idea's new VAS activities, the company launched 'Buddy Recharge' - a unique peer-to-peer talk time transfer product. They also launched Oongli Cricket during the IPL season. During the year, the company launched a standardized self care portal 'CARE' which gives information to the customer on products/tariffs and information of their account such as billed amount, last recharge, last calls, unbilled amount, etc. They were the first operator to launch 'Pre Tones', which is an innovative VAS service which allows the user to listen to the caller tones of his/her own choice while making an outgoing call instead of listening to the respondent's caller tone. As per the scheme of arrangement, the company telecom operations of the Bihar service area along with certain assets and liabilities of Aditya Birla Telecom Ltd, a wholly owned subsidiary was de-merged and transferred to the company with effect from March 1, 2010. Spice Communications Ltd which had operations in the Punjab and Karnataka service areas, and licenses for National and International Long Distance operations was amalgamated with the company with effect from March 1, 2010. Also, Carlos Towers Ltd became a subsidiary company pursuant to the amalgamation of Spice Communications Ltd with the company. In April 2010, the company received a License for providing pan India Internet Services (ISP License). In the 3G Spectrum auction, the company emerged as a winner in 11 Service Areas viz. Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh (E), Uttar Pradesh (W), Madhya Pradesh, Himachal Pradesh and Jammu & Kashmir, at a total cost of Rs 5,768.59 crore. During the year under review, the company became a pan India operator following the roll out of services in the remaining service areas of Orissa, Tamilnadu (including Chennai), Jammu & Kashmir, West Bengal, Kolkata, North East and Assam. In January 20, 2011, the Company launched mobile number portability (MNP), an invite to all Indian mobile customers to change their wireless operator, while retaining their mobile number. In March, 2011 Company launched 3G services in 9 out of these 11 service areas. The Company also entered into bilateral roaming arrangement for the service areas of Mumbai, Bihar, Karnataka, Delhi, Kolkata and Tamil Nadu (including Chennai), with leading quality operators, enabling it to offer 3G services in 15 service areas. In 2012, Department of Telecom (DoT) has said that the proposal of Malaysia based Axiata group to raise 1 per cent stake in Idea cellular to 21 per cent would not create any fresh security threat for the country. The company bagged the prestigious World Communication Awards 2012 (WCA) under the Best Brand Campaign' category at the recently held awards ceremony in London. The company wins at the prestigious World Communication Awards 2012, second year consecutively. In 2013, the company Signs Unified License with the Department of Telecommunications -Idea Cellular introduces buffet plans for post-paid subscribers. In 2014, the company wins wins 900 MHz for Delhi, and 4G in 8 strategic markets. In 2015, Microsoft has tied with Idea Cellular to launch operator billing on the Windows Store for Idea subscribers. The company has successfully retained the crucial 900 MHz spectrum and won 54 MHz of 900 MHz spectrum. Videocon Telecommunications sold its spectrum in Gujarat and UP (West) circles to the company at a valuation of Rs 3,310 crore during the year. The company launches world-class, high-speed 4G LTE services in all four Telecom service areas of South India. The company launches 4G in all 5 states of South India, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana. In 2016, Idea Cellular launched 4G services across key markets viz. Madhya Pradesh & Chhattisgarh, Punjab, Haryana, Orissa, North East Service Area and Himachal Pradesh. During the year, the company won spectrum in FDD technology on 1800 and 2100 bands, and in TDD technology on 2300 and 2500 bands to achieve pan-India wireless broadband footprint. On 16 March 2016, Idea Cellular and Videocon Telecommunications Limited mutually agreed to terminate their earlier agreement regarding Transfer of Right to Use 1800 MHz Spectrum' in two service areas with immediate effect. Earlier, on 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications Limited (VTL) in the telecom service areas of Gujarat and U.P. (West) for an aggregate consideration of Rs 3310 crore (approx.), pursuant to the DoT Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015. The Board of Directors of Idea Cellular at its meeting held on 28 April 2016 decided to consolidate the company's business of providing tower infrastructure services through approximately 7,997 telecom towers that it owns and operates across India (Tower Infrastructure Undertaking) with its wholly owned subsidiary, Idea Cellular Infrastructure Services Limited (ICISL) which is engaged in the business of providing tower infrastructure services in Bihar and Orissa. To implement this transaction, a business transfer agreement will be executed between Idea Cellular and ICISL. ICISL will issue approximately 10,000 equity shares to Idea Cellular in consideration for the tower infrastructure undertaking. The transfer of the tower infrastructure undertaking to ICISL is expected to be completed within 3 to 6 months subject to obtaining requisite regulatory approvals. On 30 January, 2017, Idea Cellular announced the launch of 3 new exciting entertainment apps - Idea Music Lounge, Idea Movie Club, and Idea Game Spark. The new suite of integrated Digital Apps present one of the best range of entertainment content for its nearly 200 million customers. With the launch of Idea Music Lounge, Idea Movie Club and Idea Game Spark, the company has begun its transformation from a pure play mobile operator to an integrated digital services and solutions provider. On 20 March 2017, Idea Cellular and Vodafone Group Plc announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42% stake in Indus Towers) to create India's largest telecom operator. The combined company would become the leading communications provider in India with almost 400 million customers, 35% customer market share and 41% revenue market share. The brand strategy of the combined company will be developed in due course and will leverage customers' affinity for both existing brands, built up over the past decade. The name of the combined listed company will be changed in due course. The combined company will have sufficient spectrum to compete effectively with the other major operators in the market. It would hold 1,850 MHz, including circa 1,645 MHz of liberalised spectrum acquired through auctions. It will be capable of building substantial mobile data capacity, utilising the largest broadband spectrum portfolio with 34 3G carriers and 129 4G carriers across the country. Vodafone India's strong presence in metro circles and Idea's leadership in semi-urban and rural telecom markets will allow for nationwide leadership within Indian M&A guidelines. In circles where both Idea and Vodafone India currently have a limited presence, the combined entity will become the leading challenger with the scale to compete more effectively and enhance consumer choice. On 25 May 2017, Idea Cellular announced that it has completed pan-India 4G rollout with the launch of 4G services in Mumbai on 2100 MHz spectrum band. On 24 July, 2017, Idea Cellular announced that the Competition Commission of India has approved the proposed merger of Vodafone India, Vodafone Mobile Services Limited, and Idea Cellular under sub section (1) of section 31 of the Act. The transaction is expected to close during calendar year 2018 subject to customary approvals. On 14 September 2017, Idea Cellular announced that it has achieved a major milestone in its network growth journey. The company has rapidly expanded network to 260,000 sites across the country with 50% sites dedicated to mobile broadband services, establishing it as India's Big 4G network'. Idea added nearly 50,000 broadband sites over the last 12 months period ending August 2017, growing its broadband footprint to cover 5,888 Census towns and nearly 105,755 villages, reaching out to 45% population of the country. It has set up an optical fibre network of approximately 150,000 route kms to strengthen its wireless broadband services. On 13 November 2017, Idea Cellular and Vodafone India announced that they have separately agreed to sell their respective standalone telecom tower businesses in India to ATC Telecom Infrastructure Private Limited, a majority owned subsidiary of American Tower Corporation, for an aggregate enterprise value of Rs 7850 crore (USD 1.2 billion). The standalone telecom tower businesses of Idea Cellular and Vodafone India are pan-India passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at 30 June 2017. On 12 January 2018, Idea Cellular announced that the National Company Law Tribunal Bench at Ahmedabad vide its order dated 11 January 2018 has sanctioned the Composite Scheme of Amalgamation and Arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular and their respective shareholders and creditors. On 12 February 2018, Idea Cellular completed the allotment of 32.66 crore equity shares to the promoter Aditya Birla Group entities at an issue price of Rs 99.50 per share aggregating to Rs 3250 crore. As a result of this preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4% to 47.2%. On 23 February 2018, Idea Cellular announced the successful closure of its qualified institutions placement. The company issued and allotted approximately 42.42 crore equity shares of face value of Rs 10 each to qualified institutional buyers at an issue price of Rs 82.50 per equity share, aggregating to approximately Rs 3500 crore. This equity raise of Rs 3500 crore along with recent infusion of Rs 3250 crore by Idea's promoter/promoter group will reduce Idea's net-debt by approximately Rs 6750 crore.

Vodafone Idea Ltd Directors Reports

Dear Shareholders,

We have pleasure in presenting the Twenty Fourth Annual Report, together with the audited financial statements of the Company for the Financial Year ended March 31, 2019.

Company Overview:

The merger of Vodafone India Limited and Vodafone Mobile Services Limited into your Company effective from August 31, 2018, has led to creation of Vodafone Idea Limited, a partnership between two strong promoters Aditya Birla Group and Vodafone Group. Post-merger, your Company is a leading telecommunications operator in India offering voice, data, enterprise services and other value added services ("VAS"), including short messaging services, digital services, content, IoT and enterprise solutions etc. As of March 31, 2019, the subscriber base of your Company stands at 368.3 Mn (on VLR), with subscriber market share of 36.0%, which is highest in the Industry. The Revenue Market Share (RMS) on Gross Revenue basis (GR) for your Company stands at 32.8% (excluding BSNL/ MTNL wireline) for the quarter ended March 2019.

Your Company provides Voice and Data services on 2G, 3G and 4G technologies across all 22 service areas and has strong spectrum portfolio and network footprint to support the burgeoning demand for both, data and voice. Your Company has the largest spectrum holding amongst all Indian telecom operators comprising 1,849.6 MHz spectrum across 22 circles, of which 1,714.8 MHz is liberalised spectrum which can be used towards deployment of any technology. Your Company’s mobile telecommunication services cover approximately 1 billion Indians. As of March 31, 2019, your Company has around 372,000 broadband (3G+4G) sites and all of the 4G sites are VoLTE enabled, creating a better customer experience. The broadband network is spread over 273,000 towns and villages and covers approximately 69% of the Indian population, while 4G networks covers approximately 65% of Indian population. Your Company has a portfolio of ~345,000 km of Optical Fiber Cable (OFC), including own built and Indefeasible Right of Use (IRU) OFC. Your Company has started deployment of latest technology of Dynamic Spectrum Re-farming (DSR), Massive MIMO and Small cells to maximize spectrum efficiency.

Company has started deploying LTE on TDD in 2300 MHz and 2500 MHz spectrum bands to expand the capacity and on 900 MHz band on select sites to improve customer experience in dense areas. Your Company also derives revenue from carrying India inbound ILD traffic through arrangements with other mobile telecommunications companies and long distance carriers operating outside India.

All of your Company’s services and products are currently offered under and brands. Both the brands are complementary in nature and have generated strong customer affinity throughout the years. The strength of brands and advertising is reflected in several brand recognition awards that your Company has won. Idea was listed among the top three brands in the Telecom category in AFAQS! India’s Buzziest Brands of 2018. Vodafone India won two silver and three bronze awards in EFFIES 2018 and won the Emvies Media client of the year 2018. Your Company’s vision is to ‘Create world class digital experiences to connect and inspire every Indian to build a better tomorrow’. To achieve this end, your Company is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

Financial Results

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014.

The standalone and consolidated financialhighlights of your Company for the Financial Year ended March 31, 2019 which are not comparable with the figures for the previous financial year due to the merger of Vodafone Mobile Services Limited and Vodafone India Limited during this financial year, as mentioned subsequently in this report, are summarized as follows:

(in Rs. Mn)

Particulars Standalone Consolidated
2018-19 2017-18 2018-19 2017-18
Income from Services 367,668 278,000 370,056 282,471
Other Operating 920 286 869 318
Income
Other Income 10,733 6,065 7,311 3,530
Total Revenue 379,321 284,351 378,236 286,319
Operating Expenses 329,799 221,843 330,495 222,314
EBITDA 49,522 62,508 47,741 64,005

 

Particulars Standalone Consolidated
2018-19 2017-18 2018-19 2017-18
Depreciation and Amortisation 144,098 83,148 145,356 84,091
EBIT (94,576) (20,640) (97,615) (20,086)
Interest and Finance charges 94,713 48,968 94,628 48,130
EBT (189,289) (69,608) (192,243) (68,216)
Exceptional Items (Net) 12,367 - 8,521 -
Share of JV/Associates - - 1,968 3,224
Taxes (36,362) (25,025) (35,715) (23,310)
Profit / (Loss) after Tax (140,560) (44,583) (146,039) (41,682)
Other Comprehensive Income, net of tax (3,198) (4,517) 328 283
Total Comprehensive Income (143,758) (49,100) (145,711) (41,399)

The results for the current financial year include the results of the erstwhile Vodafone Mobile Services Limited (VMSL) and Vodafone India Limited (VInL) which merged into the Company effective August 31, 2018 for the period subsequent to that date till the end of the financial year (Refer Note 3 to the Standalone Financial Statements for further details). Accordingly, the figures for the current financial year ended March 31, 2019 are not comparable with the figures of the previous financial year ending March 31, 2018. Standalone revenue of your Company stood at Rs. 368,588 Mn, an increase in annual revenue for this year by 32.5%. The EBITDA fell to Rs. 49,522 Mn, registering a decline of 20.77% over the previous year. The Net Loss of the Company for the Financial Year March 31, 2019 stood at Rs. 143,758 Mn, for Financial Year 2018-19 vis-a-vis Rs. 49,100 Mn, for the previous year.

On a consolidated basis, the total revenues stood at Rs. 378,236 Mn, an increase of 32.1% over the previous year. The EBITDA at Rs. 47,741 Mn reflects decrease of 25.41% as compared to the previous year. The consolidated Net Loss stood at Rs. 145,711 Mn, for Financial Year 2018-19 vis-a-vis Rs. 41,399 Mn for the previous year.

Operations Review

The Indian wireless industry has continued to remain under significant since launch of services by the new 4G mobile operator in September 2016. All the operators are forced to sell at heavily discounted tariffs, in order to ring-fence their existing customers, which has led to significant result the Gross Revenue (GR) for FY19 has declined by nearly Rs. 304 Bn in last two years, a fall of 16.0% compared to FY17, inspite of increase in active subscribers.

While the operating environment continues to remain challenging, the industry has now consolidated into three large private players, i.e. Vodafone Idea, Bharti and Jio, and one government operator, i.e. BSNL/ MTNL, with all operators committed to support the growing data demand. With unlimited offerings getting more traction, the subscribers are migrating their usage to single SIM. Additionally, the launch of ‘service validity vouchers’ by Vodafone Idea and Bharti Airtel which requires customers to make a minimum recharge of Rs. 35 (28 days validity) to continue to use the network, led to further consolidation of subscribers in the second half of FY19.

Industry VLR subscriber base stands increased to 1,022 Mn as of March 31, 2019 compared to 998 Mn as of March 31, 2018, of which the top three operators comprise of more than 93%. During FY19, industry broadband penetration continued to improve supported by heavily discounted data prices, increasing affordability of smartphones and rising income levels. Wireless broadband subscriber are now 545 Mn (broadband penetration ~47%) as of March 31, 2019 compared to 395 Mn (broadband penetration ~33%) a year ago.

Following the merger of VInL and VMSL into your Company, the challenging phase of integration is underway with a very clearly defined strategy, having no dependencies on external factors. Through meticulous planning, your Company has created a blueprint to improve revenue, profitability and competitive position in the marketplace. The outcome of this exhaustive planning is the following well-defined five-pillar strategy which forms the basis for all the ongoing strategic initiatives.

1. Accelerate Integration Your Company is focused on rapidly integrating operations to derive operational synergies and reduce expenditure. Your Company is progressing well ahead of plan and intends to deliver synergies by FY21, two years earlier than previously stated target. Your Company has already consolidated spectrum and radio access network in 10 out of the 22 service areas. On operational integration, your Company has completed consolidation of all zonal and circle offices and has also completed the targeted integration of distribution network, retailers, service stores and service centers. Your Company is thus integrating at a great pace and has already achieved 60% of our targeted opex synergies during last quarter of FY19.

2. Prioritizing investments in profitable districts

Your Company has segregated districts in India based on their growth potential and revenue and EBITDA contribution to identify high potential districts which are the key focus areas for incremental investments. Prioritizing investments in profitable districts will optimize capital expenditure and offer superior customer experience enabling yourCompanytogain progress on all the its fair share of 4G in these districts. In non-profitable districts, your Company is working on to shut down the weaker of the two networks, which will enable it to incur operating expenses for one network while generating revenue from customers of both brands. This will help in further reducing operating expenses while ensuring that both brands get the experience of the stronger network.

3. Drive ARPUs through Simplification Your Company intends to simplify its customer offerings and has . already made significant Your Company has introduced low value ‘service validity vouchers’ with minimum recharge of Rs. 35 (28 days validity) primarily targeting customers who used to have only incoming minutes on our network or who had an ARPU below a certain threshold. This led to a subscriber consolidation as expected but led to ARPU uplift and subsequent improvement in revenues in Q4FY19.

4. Focusing on Fast-Growing Revenue Streams and partnerships Your Company has a market leading position in enterprise services and intends to focus on fast growing streams such as Internet of Things (IoT), cloud services and converged communications leveraging Vodafone group’s global IoT leadership. Your Company is the first operator in the world to have executed voice and data calls on public cloud. ‘My Vodafone App’ became the first application to be co-hosted with vNFs (converged One-Cloud across Network and IT).

In the order to provide the ‘Best in Class’ offerings to its customers, your Company is following a partnership approach tying with several regional and global content partners. Further, the tie-ups with e-commerce platforms, handset manufacturers, financial institutions, NBFCs among many others will drive value not only for the customers, but also for the Company and its partners.

5. Strengthening our Balance Sheet Your Company successfully concluded the rights issue of Rs. 250 Bn recently, largest in India, which was oversubscribed reflecting strong support from the investors. Further, your Company has the option to monetize its 11.15% stake in Indus, which has an implied value of

~Rs. 53.6 billion as on June 30, 2019. This coupled with potential monetization of fiberassets will provide sufficient financial flexibility.

Your Company has made significant initiatives across each of these strategic pillars. Your Company is thus well on track to achieve its guided synergy targets and continues to strive towards transforming from a pure play mobile operator to a truly integrated digital service provider.

Dividend

As your Company has incurred a net loss during the year, your directors have not recommended any dividend for the year.

Transfer to Reserves

During the financial year under review, the Board has not proposed to transfer any amount to Reserves.

Changes in Share Capital

During the year under review, your Company had issued 4,375,199,464 Equity Shares of face value of Rs. 10/- each pursuant to amalgamation of Vodafone Mobile Services Limited (‘VMSL’) and Vodafone India Limited (‘VInL’) with the Company in accordance with the provisions of the Companies Act, 2013 and Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Additionally, your Company issued and allotted 1,037,935 Equity Shares of Rs. 10/- each, fully paid-up, to the Option/ RSU grantees pursuant to the exercise of Stock Options/ Restricted Stock Units (RSU’s) by the eligible employees under the Employee Stock Options Scheme, 2006 (ESOS-2006) and Employee Stock Option Scheme, 2013 (ESOS-2013). Consequent to the above, the issued, subscribed and paid-up equity share capital of your Company as on March 31, 2019 stood at Rs. 87,355,583,290 comprising of 8,735,558,329 Equity Shares of Rs. 10/- each.

Finance

As on March 31, 2019, the Company had cash and cash equivalents of Rs. 6,759 Mn and short-term investments of Rs. 66,890 Mn. The Company’s net debt as on March 31, 2019 increased by Rs. 662,217 Mn to Rs. 1,185,750 Mn as compared to Rs. 523,533 Mn last year.

During the year under review your Company raised Rs. 15,000 Mn through issuance of Non-Convertible Debentures (NCDs) on private placement basis at a coupon of 10.90% for a tenor of 5 years. The Company also raised Rs. 40,000 Mn under a long term rupee loan arrangement with Yes Bank Limited (a further Rs. 10,000 Mn was raised on similar terms by Vodafone Mobile Services Limited prior to merger with the Company). The Company also drew a short term rupee loan of Rs. 30,430 Mn in March 2019.

All scheduled loan repayments and deferred spectrum fee instalments to the DoT were made on respective due dates. However, some short term loans were repaid prior to their due dates as agreed with the lenders.

Credit Rating

As of March 31, 2019, your Company enjoyed a long term credit rating of ‘CARE AA-’ / Negative (previous year end rating ‘CARE AA+’ / Credit Watch with developing implications) in respect to its long term banking facilities and certain Non-Convertible Debentures. The short term banking facilities and Commercial Paper programme have a rating of ‘CARE A1+’.

Additionally, Brickwork Ratings has an outstanding rating of ‘BWR AA-‘ / Negative (previous year end ‘BWR AA+’ / Stable) in respect to Non-Convertible Debentures rated by CARE, amounting to Rs. 35,000 Mn. The Commercial Paper programme has a rating of BWR A1+.

Non-Convertible Debentures issued by companies that merged into the Company have a rating of ‘CRISIL A+ / Negative’ and ‘Ind A+’ / Negative from CRISIL and India Ratings respectively.

Capital Expenditure

During the Financial Year 2018-19, the capital expenditure (including capital advances) incurred during the year was Rs. 114,715 Mn and Rs. 115,033 Mn at standalone and consolidated levels respectively.

Fixed Deposits

Your Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding, as on the date of the Balance Sheet.

Significant Developments:

Merger of Vodafone India Limited and Vodafone

Mobile Services Limited with the Company

The Board of Directors of your Company had at its Meeting held on 20 March 2017, had approved the merger of Vodafone India Limited (VInL) and Vodafone Mobile Services Limited (VMSL) [excluding VInL’s 42% equity interest in Indus Towers Limited] through a Composite Scheme of Amalgamation and Arrangement ("Scheme") with your Company, subject to all necessary approvals.

Post receipt of all the regulatory and other necessary approvals, your Company was in receipt of the final approval of merger from the Department of Telecommunications on July 26, 2018. The National Company Law Tribunal (Mumbai Bench) vide its order dated August 30, 2018, approved dissolution without winding up of Vodafone India Limited and Vodafone Mobile Services Limited and consequently, with effect from August 31, 2018, both the companies (VInL and VMSL) amalgamated with your Company. Consequent to the Scheme becoming effective on August 31, 2018, Vodafone Group became promoter of your Company with 45.1% stake in the combined Company after transferring a stake of 4.8% to the Aditya Birla Group for an agreed consideration concurrent with completion of the merger. The holding of the Aditya Birla Group, the existing Promoter of the Company reduced from 42.6% to 26.0% of the combined Company with public shareholders owning the remainder 28.9%. As part of the merger arrangement, Aditya Birla Group retained the right to acquire up to 9.5% additional stake in the Company from Vodafone Group under an agreed mechanism with a view to equalising the shareholdings over time. Further, with effect from August 31, 2018, all subsidiaries and joint ventures of erstwhile VInL and VMSL became the subsidiaries and joint ventures of your Company.

Pursuant to merger, the Board was reconstituted comprising of 12 Directors of whom 3 Directors each were nominated by Vodafone Group and Aditya Birla Group and 6 were appointed as Independent Directors.

Name Change of the Company

Pursuant to the merger of Vodafone India Limited and Vodafone Mobile Services Limited with your Company, it was intended to change the name of the Company from Idea Cellular Limited to "Vodafone Idea Limited". The members had approved the aforesaid change of name of the Company at the Extra-ordinary General Meeting held on June 26, 2018. It was intended that the Company is able to use the new name i.e. Vodafone Idea Limited, from the date on and from which the amalgamation of VMSL and VInL with the Company becomes effective. Thus, with effect from August 31, 2018, the name of your Company changed to ‘Vodafone Idea Limited’, pursuant to issue of certificate change by Registrar of Companies on August 31, 2018.

Rights Issue of Rs. 250 Billion

The board of directors of your Company on January 23, 2019, approved raising of funds by way of Rights Issue aggregating to Rs. 250 billion. Subsequently, on March 20, 2019, the Board approved issuance of equity shares on a rights basis in the ratio of 87 Equity Shares for every 38 fully paid-up Equity Shares held by the eligible equity shareholders as on record date i.e. April 2, 2019, at an issue price of Rs. 12.50 per equity share. Subsequent to the close of the financial year, on May 4, 2019, the Company issued and allotted 19,999,830,911 Equity Shares of face value of Rs. 10/- each to the eligible existing equity shareholders under Rights Issue at an issue price of Rs. 12.50 (including a premium of Rs. 2.50) per equity share, thereby raising funds aggregating to Rs. 249,998 Mn.

The rights issue of the Company received strong support from both existing shareholders as well as from other investors. The Company witnessed participation from both domestic and foreign public shareholders. The issue was oversubscribed approximately 1.08x and the public participation was approximately 1.2x relative to the rights entitlement. The final allotment to the promoter / promoter group was Rs. 179.2 billion (Rs. 0.9 billion over their aggregate rights entitlement). Post allotment, the total promoter / promoter group aggregate shareholding increased to 71.57% from 71.33% as on the record date.

Merger of Aditya Birla Telecom Limited with the Company

With the overall objective of rationalising multiple subsidiaries post-merger, a Scheme of Amalgamation of Aditya Birla Telecom Limited (ABTL), a wholly owned subsidiary, with the Company was approved by the Board of Directors of the Company on September 17, 2018. The National Company Law Tribunal, Ahmedabad bench vide its order dated November 13, 2018 approved the said Scheme with an appointed date of April 1, 2018. Pursuant to filing of the said order with the Registrar of Companies, the said scheme became effective on November 30, 2018 and accordingly, ABTL has been amalgamated with the Company.

Demerger of Fibre Undertaking of the Company to Vodafone Towers Limited

The Board of Directors of the Company approved a Scheme of Arrangement for transfer of Fibre Infrastructure Undertaking from the Company to Vodafone Towers Limited, a wholly-owned subsidiary, subject to all necessary approvals. Pursuant to receipt of approval by the Stock Exchanges, the said Scheme of Arrangement was approved by the equity shareholders and secured and unsecured creditors of the Company at their respective meetings held on June 6, 2019. The order approving the Scheme is awaited from National Company Law Tribunal, Ahmedabad.

Scheme of Amalgamation of Idea Telesystems Limited and Vodafone India Digital Limited with the Company

As part of streamlining the corporate structure of the Company, the Board of your Company had approved a Scheme of Amalgamation of Idea Telesystems Limited (ITL) and Vodafone India Digital Limited (VIDL) (both wholly owned subsidiaries of the Company) with the Company. ITL is in the business of trading in devices and VIDL has no business and thus is a non-operating subsidiary. Your Company is in process of filing the application with National Company Law Tribunal for approval of the said scheme.

Winding up of Aditya Birla Idea Payments Bank Limited

The Board of Aditya Birla Idea Payments Bank Limited (ABIPBL), an associate of the Company has decided to wind up business voluntarily on July 19, 2019, due to unanticipated developments in the business landscape of payments bank that have made the economic model unviable.

Closure of businesses in Vodafone M-Pesa Limited

Pursuant to merger of Vodafone India Limited with your Company, Vodafone M-Pesa Limited (VMPL) having Prepaid Payment Instruments (PPI) business became subsidiary of your Company. As per the RBI guidelines, same promoter group cannot have Payments Bank business in one entity and Prepaid Payment Instruments (PPI) business in another entity. Based on various discussions, the Regulator had initially permitted these two entities to carry on the business until December 31, 2018 which was later extended to March 31, 2019. VMPL Board has subsequently approved surrender of PPI Authorisation and cease the wallet and Business Correspondent business.

Awards and Recognitions

Some key awards and recognitions received by your Company during the period are:

"Golden Peacock Award" for Corporate Social Responsibility for being the best among Indian Telecom Companies for CSR.

Vodafone Idea Business Services won Frost & Sullivan India ICT Awards under 3 categories:

- Enterprise Telecom Service Provider of the Year - SMB Segment

- Managed Enterprise Wi-Fi Provider of the Year

- Enterprise Mobile Service Provider of the Year

8 awards across categories at the Voice & Data Biz & Tech Awards at Telecom Leadership Forum 2019:

- SMP for Mobility & IoT in Enterprise Business Services

- Smart Tracking & Infra System in Network Infra Innovation

- "Order Management" Digital Transformation project in Business Process Innovation

- Vodafone IoT solution for Internet of Things

- Filmy recharge in Marketing

- Sakhi for VAS & Apps

- Bill Guarantee for Customer Service

- RUDI Sandesh Vyavhara for Corporate Social Responsibility

Vodafone Brand won 1 Gold, 1 Silver and 2 Bronze in APAC Effies along with Grand Effie going on to become the Brand of the Year and Marketer of the Year.

Vodafone Sakhi won Black, Gold and 4 Blue Elephants awards at Kyoorius Creative Awards 2018 and was showcased by GSMA as the Best Initiative for ‘Connected Women’ at the Mobile World Congress push to the 2019 in Barcelona

Idea Brand won Silver at Maddies 2018 for "Best Use of Social Media On A Campaign" - LookLook FB 360 Newsfeed Game

Idea was adjudged Runners-up in the prestigious BML Munjal Awards for Business Excellence through Learning and Development in Private Sector Services Category at Mindmine Summit 2018

Marketing and other initiatives

During the year under review, your Company together with its subsidiaries made extensive progress on the marketing and customer care front by entering into various alliances and introducing various innovative products and services. Some of these are:-

Cloud Express Connect Private and secure MPLS network extended to Microsoft Azure and Google, thereby ensuring better win in the market place for the Fixed Line data products.

Launch of multiple products like Global Calling Services, 6 Class of service in GMPLS to further accelerate growth through connectivity, PinSight & DEP in the Analytics area.

The Company won a prestigious contract of 5 Mn smart meter, India’s first ever largest IoT rollout in this space.

Your Company expanded VoLTE (Voice over LTE) services across all 22 4G service areas, offering offer High Definition call quality as compared to a standard voice call. Currently VoLTE is available on 200+ handset models and supported on over 95% of new 4G devices launched.

Your Company believes in offering compelling content proposition for it consumers such as Amazon prime free subscription to Nirvana postpaid plans, offering free Idea Movies and TV app to the consumers etc.

As a planned strategy, your Company redesigned its postpaid portfolio under RED & Nirvana to bring in important non-telco and innovative telco benefits for its high value postpaid consumers.

To accelerate the adoption of Unlimited Vouchers, your Company introduced a range of new propositions to cater to different segments of prepaid customers. Monthly Unlimited Voucher pricing was lowered from

Rs. 199 to Rs. 169 and Long Validity Versions (84 days and 365 days) were launched. Further to cater to the needs of customers using non 4G Devices, Unlimited Voice voucher at Rs. 119 (28 days) was launched. These interventions have given a significant adoption of Unlimited Vouchers and have resulted in better retention.

To drive an assured recharge revenue and to ensure a minimum participation price to utilize the network, in October 2018 your Company introduced Combo Vouchers starting at Rs. 35, targeting the bottom end of the prepaid market.

Tapping into a large opportunity to bridge the gender gap in mobile access and usage, this year your Company launched an innovative offering for Women, ‘Sakhi’, a first-of-its kind mobile based safety service, designed exclusively forwomen.Abouquetoffeaturesincluding Sponsor of Fans ". This campaign led to Emergency Alerts, Emergency Balance and Private Number Recharge, provide safety measures through the mobile connection, to women customers using the VIL network, anywhere in the country. Sakhi works seamlessly across smartphones and feature-phones, even without any balance or mobile internet, thus ensuring that the service extends to millions of women in India. Sakhi also won many awards and accolades on national and international platforms.

To engage with rural subscribers, in April 2019 your Company launched "Myna Ka Kehna", a completely free missed-call based audio entertainment platform, across Hindi speaking markets as well as Maharashtra, Gujarat and West Bengal. The platform aims at engaging with rural feature phone users who form the bulk of rural subscriber base via audio content comprising of songs, entertaining banter and targeted product pitches as well as product information. The audio content is completely customized as per the listener’s profile. Since the launch, the platform has been very well received by the subscribers for its ease of use and entertaining content and is going strong in its aim to engage with the rural subscriber base. The platform is uniquely positioned to target the last mile rural consumer and has immense potential to grow into a monetizable rural media channel.

Targeted at driving data usage amongst low/non-data users, your Company launched Filmy Recharge, now an award-winning offering. At a pocket-friendly price of Rs. 16, Filmy Recharge bundles free access to a large catalogue of movies through a very simple integrated user journey. Keeping the target audience in mind, the proposition was created to work seamlessly without any application download.

To strike a chord with the millennials, your Company launched ‘Vodafone U’, a digital only platform exclusively for our youth customers that enables them to maximise life with limited resources. In line with Vodafone U philosophy, your Company launched an exclusive offer on Amazon Prime, where customers could avail a 50% discount on Amazon Prime membership, making shopping and entertainment even more affordable.

Two Brands – One Company:

India is a cricket loving nation and IPL gives a great opportunity to connect with consumers. To engage with the subscriber base, increase usage of the website and app, brand Vodafone launched a digital campaign "Unofficial Vodafone becoming the most loved brand, increased usage of the website and app and enhanced customer experience on-ground amongst the users.

Your Company takes pride in providing the customers with great value & seamless connectivity in India and abroad. Building on strong international roaming tie-ups, brand Vodafone launched an International Roaming campaign with a claim of "Best International Roaming Plan" offering unlimited data and calling at just Rs. 215/- day in 23 countries. A digital campaign specifically targeting users planning to travel abroad in the months of April-June was also launched.

In the constant endeavor to engage and provide exclusive offers to high value customers, brand Vodafone has created a differentiated experience. iPhone Forever is one such exclusive proposition for the high value customers. It is a one-of-its kind program where the customer gets free repair, replacement and easy upgrades on their iPhones. The campaign has Print and Digital legs targeting towns and cities with high iPhone penetration in the country.

Since the launch of Idea 4G, the focus was to establish brand Idea as a strong 4G player. This year as well, brand Idea focussed all its advertising efforts on building preference for Idea 4G. Idea launched 3 TV campaigns aimed at building 4G credentials: Network - "India ka Live Network", Affordability - "Dekhte Jao" and Thematic - #MeriRealLife. These were high decibel TV campaigns, supported with Radio, Outdoor and Digital among other media.

The "Dekhte Jao" campaign aimed at showcasing Idea at the forefront of the unlimited data revolution so it becomes the network of choice for data-hungry Indians. Promoting Idea’s Unlimited recharges portfolio, the campaign showcased how everyone can now watch videos endlessly, without hesitation. The upbeat and celebratory TVC had an extremely catchy jingle composed by Bollywood music director Amit Trivedi.

The "MeriRealLife" campaign was aimed at increasing brand affinity among the social media savvy youth by powering an alternate wave of thinking. The campaign propagated a culture of "Responsible use of Social Media" that encourages people to drop the pressure of chasing and sharing perfection online; and instead share real, authentic and unfiltered stories of their lives.

The "India ka Live Network" campaign aimed at enhancing Idea’s 4G network quality credentials.

The campaign showcased how everyone can tackle irresponsible behaviour by going live anytime with Idea 4G’s seamless network. In quintessential Idea fashion, the campaign transformed LIVE video from just a tool of social sharing and fun, into a tool of empowerment and societal change.

Partnerships & Alliances:

Your Company partnered with Amazon India, to build a unique ‘Shop-in-Shop’ model at our Company-owned stores - providing an assisted sales model involving promoters placed by Amazon, who are responsible for driving sales of Amazon exclusive devices through our stores. Currently operational in 100 Vodafone branded stores across 6 circles and 7 cities, the Shop-in-Shop model is expanding to cover over 400 stores in the coming months.

Your Company partnered with Apple to launch the world’s first iPhone Forever Program exclusively for high-value customers. With benefits such as replacement and repair at no extra cost and upgrade at the best price; the iPhone Forever Plan built engagement and enhanced loyalty of our premium customers.

Your Company also partnered with leading OEMs - Samsung, OnePlus, Oppo, Vivo, Moto, Huawei, Nokia, Panasonic and Lava to offer special offers on leading handsets, which aided the landing of these partner phones on our network. A number of these tie-ups were accompanied by extensive print, digital and offline promotions in association with the partners.

Fueling Growth of Digital:

To cater to the Digitally-evolved consumer, your Company offers a rich bouquet of digital content via strategic partnerships with Sony LIV, ZEE5, Shemaroo Entertainment, EROS, Discovery and others for our video properties - Vodafone Play and Idea Movies and TV. These partnerships get us access to a large repertoire of movies, TV shows, Live TV channels, original shows, music videos and other genres.

With an enhanced 4G footprint across key markets and increased smartphone penetration, regional content acts as a catalyst to explode data consumption. To fuel this growth, Vodafone Play and Idea Movies and TV have exponentially increased regional content portfolio with exclusive partnerships with leading regional content OTT apps like SheemooMe for Gujarat market, SunNxt for all four South languages, Hoichoi for entire East and Bengal market.

To accelerate the digital footprint and create more value for our customers, your Company partnered with popular digital wallets - PayTM, PhonePe and Amazon Pay to unlock exciting cashback offers, making the plans more affordable and convenient to recharge. Through strategically planned Application Programming Interface (APIs) integrations, Vodafone and Idea prepaid recharges and postpaid bill payments are enabled across most third party digital wallets and payment systems.

Consumer IoT:

Internet of Things (IoT) is poised for exponential growth with an increasing number of consumer applications in various categories like smart home, wearables and connected cars. Being a frontrunner in Industrial IoT domain, your Company is exploring the next generation of consumer IoT use cases with the right set of strategic partners to bring connected living to the Indian market.

Subsidiary, Associate and Joint Venture Companies

As on March 31, 2019, your Company has thirteen subsidiary companies, two joint venture companies and one associate company. Post-merger, the management is working towards rationalising subsidiaries. The details are as under:

Subsidiaries

1. Idea Cellular Services Limited (ICSL)

ICSL is engaged in the business of providing manpower services to the Company and Idea Telesystems Limited. For the Financial Year 2018-19, the total income stood at Rs. 1,062 Mn compared to Rs. 1332 Mn in the previous year.

2. Idea Telesystems Limited (ITL)

ITL is engaged in the business of trading of mobility devices. For the Financial Year 2018-19, the total income stood at Rs. 56 Mn as against Rs. 164 Mn in the previous year. Subsequent, to the Balance Sheet date, the Board of Directors of your Company have at its meeting held on May 13, 2019 approved a Scheme of Amalgamation ("Scheme") for merger of Idea Telesystems Limited with your Company. The Scheme is yet to be filed with the National Company LawTribunal Bench at Ahmedabad.

3. Vodafone m-pesa Limited (VMPL)

Vodafone m-pesa Limited (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. VMPL provides customers with a mobile wallet and money transfer services in the form of M-pesa, the world renowned mobile wallet and money transfer service. For the Financial Year 2018-19, VMPL earned a service revenue of Rs. 789 Mn as compared to Rs. 1,027 Mn in the previous year.

4. Vodafone Idea Business Services Limited (VIBSL) earlier known as Vodafone Business Services Limited

VIBSL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. The main source of revenue for VBSL is in the form of charge back to the Company and its subsidiaries towards use of certain common IT assets and accounting services and the charge back of operating cost related to Data Centre apart from OSP business. For the Financial Year 2018-19, the revenue earned was Rs. 2,452 Mn as compared to Rs. 2,200 Mn in the previous year.

5. Vodafone Idea Communication Systems Limited (VICSL) earlier known as Mobile Commerce Solutions Limited

VICSL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. VICSL is engaged in the business of trading in handsets, data cards, related accessories and other hardware. For the Financial Year 2018-19, the total revenue stood at Rs. 378 Mn.

6. Connect (India) Mobile Technologies Private Limited (CIMTPL)

CIMTPL (a wholly owned subsidiary of VICSL) has become step-down subsidiary of the Company effective August 31, 2018. For the Financial Year 2018-19, the total revenue earned was Rs. 8 Mn.

7. Vodafone Foundation (VF)

VF a section 8 Company as per Companies Act, 2013 (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018.VF is an implementing agency and carries out CSR activities for the Company and its subsidiaries, associates, joint ventures, promoter group companies in line with the Schedule VII of the Companies Act, 2013. VF primarily focuses on CSR activities that includes promoting and development of (a) the knowledge and skills of teachers, (b) financial literacy, (c) empowerment of women, (d) healthcare, (e) environment, (f) disaster relief, (g) eradication of poverty.

8. Vodafone Towers Limited (VTL)

VTL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. During the year, the Company approved the demerger of its Fiber Infrastructure Undertaking on a going concern basis to VTL. VTL has not yet commenced its operations. Accordingly, VTL does not have any revenues from operations.

9. Vodafone India Digital Limited (VIDL)

VIDL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. VIDL is yet to commence its operations. Accordingly, it does not have any revenues from operations. Subsequent, to the Balance Sheet date, the Board of Directors of your Company have at its meeting held on May 13, 2019 approved a Scheme of Amalgamation ("Scheme") for merger of VIDL with your Company. The Scheme is yet to be filed with the National Company Law Tribunal Bench at Ahmedabad.

10. Vodafone India Ventures Limited (VIVL)

VIVL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. VIVL is an outsourcing hub for finance and accounts, human resources, supply chain management, credit & collection support, customer support and catering to the Information Technology (IT) needs for data consolidation, back end IT support for Vodafone Idea Limited and its subsidiary companies in the group. The Company has set up its facilities at Ahmedabad and Pune location and commenced operations only in April 2018 after recruiting employees for providing services to group companies from both these locations. This being the first year of its operations, VIVL has earned a service revenue of Rs. 1,864 Mn.

11. Vodafone Technology Solutions Limited (VTSL)

VTSL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018 and is yet to commence operations. Accordingly, it does not have any revenue from operations.

12. You Broadband India Limited (YBIL)

YBIL (subsidiary of erstwhile Vodafone India Limited) has become the subsidiary of the Company effective August 31, 2018. YBIL is engaged in providing high

The near ubiquitous reach of the mobile makes it the most relevant channel for last mile outreach. The mobile phone has fast become the window to a world of information, better education, livelihood, employment, health and governance. Being India’s leading telecom company Vodafone Idea’s corporate responsibility agenda is directed towards addressing some of India’s critical social and developmental challenges in both rural and urban communities using the inherent potential and reach of the mobile technology and platform and reducing the environmental impact with increasing preference and usage of digital.

Both promoter groups of the company too are fully committed towards building sustainable businesses through a clearly crafted vision supported by relevant policies and frameworks. At Vodafone Idea Ltd, we understand the evolving dynamism in our operating environment. We try to preempt uncertainty by plotting scenarios that allow us to understand the external risks to our business. We prioritize adaptability, agility and foresight to ensure that our business models, operations, acquisitions and projects are not locked into unsustainable paths.

We are fully committed towards creating value for all stakeholders: from customers to partners, to employees, to communities and to the larger planet. We achieve this and material orders passed by through our passion for customer satisfaction, supporting our partners as they build capacity, engaging with and valuing our employees in an inclusive agenda to instill pride in the work we do and develop sustainable business practices.developments section of the Board’s report. This is being done with our responsible support towards digital inclusion as a national goal, or in continuing with our practices of community development in areas like education & skilling, women empowerment, preventive healthcare, sanitation and disaster relief. We will continue to be future-ready by staying ahead of the curve and being charged up to thrive in a sustainable tomorrow by building sustainable businesses and propositions. The company intends to establish a robust Sustainability Framework of Policies, Technical Standards, and Guidance Notes based not just on the local laws but also on leading International standards The Company is publishing regular (Bi-annual) dedicated Sustainability Reports as per international standards from FY16. It’s first Reports aligned to GRI G4 Guidelines are already in public domain and can be downloaded from the Company’s website.

Disclosure under Sexual Harassment of Women at Workplace (Prevention, Prohibition And Redressal) Act, 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the Financial Year 2018-19, 16 complaints pertaining to sexual harassment were received, of which 14 have been resolved. The 2 pending complaints were closed after March 31, 2019.

Other Disclosures

- There are no material changes and commitments affecting the financial position of your Company between end of financial year and the date of report, other than those disclosed in the significant developments section of the Board’s report.

- Your Company has not issued any shares with differential voting.

- There was no revision in the financial statements.

- Your Company has not issued any sweat equity shares.

- There has been no change in the nature of business of your Company.

- There are no significant the regulators or courts or tribunals impacting the going concern status and the Company’s operations in future, other than the orders passed by tribunal, disclosed in the significant

Acknowledgement

Your Directors place on record their sincere appreciation to the Department of Telecommunications, Telecom Regulatory Authority of India, the Central Government, the State Governments, all its investors & stakeholders, bankers, technology providers, equipment suppliers, value added service partners, all the business associates and above all our subscribers for the co-operation and support extended to the Company. Your Directors also wish to place on record their deep appreciation to the employees for their hard work, dedication and commitment.

For and on behalf of the Board of Directors of Vodafone Idea Limited
Kumar Mangalam Birla
Place: Kolkata Chairman
Date: July 26, 2019 (DIN: 00012813)

   

Vodafone Idea Ltd Company Background

Kumar Mangalam BirlaRAVINDER TAKKAR
Incorporation Year1995
Registered OfficeSuman Tower Plot No 18,Sector - 11
Gandhinagar,Gujarat-382011
Telephone91-79-66714000,Managing Director
Fax91-79-23232251
Company SecretaryPankaj Kapdeo
AuditorS R Batliboi & Associates LLP
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarBigshare Services Pvt Ltd
1st Flr Bharat Tin W,Makwana Road Marol ,Andheri (East) ,Mumbai - 400059

Vodafone Idea Ltd Company Management

Director NameDirector DesignationYear
Kumar Mangalam Birla Chairman 2020
Arun Thiagarajan Independent Director 2020
Pankaj Kapdeo Company Secretary 2020
NEENA GUPTA Independent Director 2020
Debnarayan Bhattacharya Non Executive Director 2020
RAVINDER TAKKAR Managing Director 2020
Arun Kumar Adhikari Independent Director 2020
Ashwani Windlass Independent Director 2020
Krishnan Ramachandran Independent Director 2020
Suresh Choithram Vaswani Addtnl Independent Director 2020
HIMANSHU KAPANIA Director 2020
Sunil Sood Additional Director 2020
Diego Massidda Additional Director 2020

Vodafone Idea Ltd Listing Information

Listing Information
BSE_500
BSE_200
BSEDOLLEX
BSE_TECK
CNX500
BSEMID
CNXMIDCAP
CNXMID50
CNX_MNC
CNX200
NFTALPHA50
NFT100EQWT
BSEALLCAP
BSETELECOM
MID150
LMI250
MSL400
BSEMOI
NFTYMC150
NFTYMSC400

Vodafone Idea Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Service Revenue NA 00044682.7
Other Operating Revenue NA 00021.1
Liabilities no Longer requiredNA 00010.9
Trading Sales NA 0000.3
Handsets-Trading Goods No 0000

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