Stockrabit · Analysts
Questions across 2 calls

Rishabh Dhancholia

HSBC

Indus Towers Limited

Indus Towers Limited CC-Feb26.pdf · 2026-02-03
First, on the EBITDA margin. So EBITDA margins have been quite robust this quarter. If I see the sharing revenue margins, it's already at 87%, and overall, EBITDA margins is around 55%. Just wanted to check if these margin levels are sustainable? And can we build even more from the current levels? And what would be the key drivers of that? And second question would be on capex. I would like to understand more on the capex side. See, the 9-month FY26, the capex is up by 40% around and it's around INR 6,500 crores. So how should we think about this forward? Because -- we will continue to do battery replacement. Solar site is also at like around 15% of the total tower portfolio. So should we see the capex to continue to tr end around like INR 7,500 crores annually for next 2, 3 years? Any comments there? Thank you.
Right. Thanks. If I can squeeze in one more. If I can get clarity on the Jio upcoming renewal, like, what is the quantum of Jio sites coming up for renewal? And what have been the initial discussions with the Company? Anything to highlight over there?

Vodafone Idea Limited

Vodafone Idea Limited CC-Nov25.pdf · 2025-11-11
Hi. Good afternoon and thanks for the opportunity. A couple of questions please. Firstly, on the subscriber trend. Subscribers actually increased quarter-on-quarter. What drove that? Are you seeing any churn out to BSNL because BSNL re ported gross subscriber addition for the month of August to September as per TRAI actually improved. In the area where you have rolled out 5G, how has been the subscriber traction and are you seeing lower churn in those areas? Secondly, on Capex, what is the outlook on Capex for second half of the year and how much of it is dependent on the additional capital raise? Thank you.
Yes. Just a follow-up on the subscriber trends. You mentioned that you have not changed your outlook or long-term view on subscriber additions. Any guidance as to when can we see positive subscriber additions or subscriber churn turning around? Any guidance on that?