Vodafone Idea has scheduled its board meeting for November 10, 2025, to review Q2 FY25 results amid hopes of regulatory relief and investor optimism surrounding AGR dues and financial turnaround.
Published: November 5, 2025 5:59 PM IST
Vodafone Idea has convened its board meeting on Monday, 10 November 2025 to discuss the unaudited consolidated and standalone financial results of the company for the quarter ended 30 September 2025, the company said in a regulatory filing with the exchanges on Friday.
The telecom operator also informed in the disclosure that the trading window for the company’s key management personnel shall remain closed from 1 October to 12 November 2025, which includes the results day and 48-hours following the release of the results, as part of its insider-trading compliance.
Telecom firm Vodafone Idea board to discuss Q2FY26 results on Monday
The board meeting, which has been long delayed, will also discuss several business aspects. Vodafone Idea (Vi) is looking at a tough turnaround battle, weighed down by substantial losses, a large debt pile and several ongoing regulatory issues like its liability under the Adjusted Gross Revenue (AGR) regime and spectrum dues.
In the April-June quarter of FY 2025-26, Vi reported a net loss of ₹6,608 crore, up from the ₹6,432 crore in the year-ago period.
Market participants have lately been enthusiastic about Vi’s shares. In late October and early November, the stock gained after regulatory bodies announced that the government could provide Vi with full relief on its AGR dues and reassess the company’s historical AGR dues.
For the quarter ended 30 September 2025, here are some of the parameters which market participants will be evaluating in Vi’s financial results.
Average Revenue Per User (ARPU): In its Q1 report, Vi announced ARPU for the quarter at ₹177. This has surpassed expectations of ₹167, on average. Hence, for the second quarter of FY26, Vi’s ARPU needs to be maintained or higher for its business performance.
Subscriber base: As per Vi’s Q1 report, the company had roughly 197.7 million mobile subscribers. If the company’s subscriber base is not growing and starts to shrink, then it will be an area of focus.
Revenue growth and loss: In the previous two quarters, Vi reported a slight increase in revenue on a sequential basis at about 4 % QoQ; however, the company’s loss has been large, at ₹7,175 crore in the September quarter of the previous year. Therefore, market participants will be looking for a halt in the decline in its revenue and loss numbers.
Capex & cash-flow: Vi has huge legacy dues to pay. At the same time, 5G networks are about to launch, which also needs capital. The company’s cash-flow position will be watched to see whether it can fund any capex without any further distress.
The AGR issue has been a big overhang on Vi’s stock for a while. However, a recent order from the Supreme Court of India has brought a silver lining as it said that the government can take into account several factors while deciding on Vi’s AGR dues and that the government has the right to give full relief to the company.
Such a development has emerged as one of the biggest positive factors for Vi and has already led to a significant stock surge. The government may look to give full or near full relief to Vi by undertaking a comprehensive revision of its AGR dues and past liabilities.
Impact on Industry
If Vi is relieved of AGR dues, it could boost investor interest and pave the way for its future plans. For the industry, if Vi survives or turns around, it would remove one of the weak links in India’s telecom sector duopoly of Bharti Airtel and Reliance Jio. Vi has long struggled, resulting in network quality and coverage issues. Therefore, the company’s future has larger-than-life implications for the sector and its dynamics on competition, pricing, consumer choice and infrastructure spending.
Key Points
As market participants eagerly await Vi’s results on 10 November, there are a few points that investors should consider in the short term:
The board meeting date is set, and the results window has received a positive boost, as it has been delayed for a while, from the government announcement on the AGR front.
Quality of earnings: Investors and market participants need to see signs of meaningful margin improvement or some form of discipline in the management of the company’s capex as the company has reported losses in the past.
Investors will watch closely for any guidance on or clarity on its AGR liability, its network investment plans for the future or high levels of subscriber churn.
The stock may also react on the narrative around the numbers, whether Vi has made any concrete steps towards stabilising operations or not.
10 November is an important day in the medium-term life of Vodafone Idea, as it will act as a health check on the company’s performance for the next few quarters.
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Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: india.com
