MUMBAI: Vodafone Idea (Vi) believes FY27 will mark the beginning of a new phase focused on execution after resolving several long-standing financial challenges, Chairman Kumar Mangalam Birla said in the company's FY26 annual report.
Describing FY26 as a turning point, Birla said the telecom operator had emerged from years of financial uncertainty following the resolution of its adjusted gross revenue (AGR) liabilities, promoter capital infusion and a return to subscriber additions.
The government's conversion of statutory dues into equity has made it the company's largest shareholder with a 48.99 per cent stake, ahead of the Vodafone Group and the Aditya Birla Group.
"FY26 was a year of resolution. FY27 begins a period of execution," he said, adding that the company would now accelerate network investments and strengthen its competitive position.
The annual report said the resolution of the AGR issue was the most significant financial development during the year. Following the Supreme Court's directions, Vodafone Idea's AGR liability was revised to Rs64,046 crore from a provisional estimate of Rs87,695 crore, resulting in a one-time profit after tax (PAT) of Rs34,552 crore and providing greater clarity on its future obligations.
To boost investment
With the balance sheet receiving a boost, the company said its immediate priority is to accelerate investments in network expansion and improve customer experience to regain competitiveness.
Vodafone Idea also renewed its call for higher telecom tariffs, arguing that India's mobile tariffs remain among the lowest globally and are insufficient to generate sustainable returns on capital.
The company said periodic tariff revisions are essential to support continued investment in network infrastructure and next-generation technologies.
Birla said the telecom sector should be viewed as critical national infrastructure rather than merely a commercial business, stressing that adequate returns are necessary to sustain long-term investments and innovation.
