Vodafone Idea voiced confidence in playing a meaningful role as India’s third telecom operator in the market, boosted by a stabilised subscriber base and competitive spectrum profile, as per its annual report.“Vi is well positioned to effectively compete in the market with its sustained capex investments coupled with a stabilised subscriber base of 192.8 million (March 31, 2026) that has returned to net positive monthly additions since February 2026, improving 4G population coverage and 5G expansion, a competitive spectrum profile, extensive distribution reach and a well-established brand, along with differentiated digital offerings,” said Vi management in its annual report.It argued that the reported annual revenue and EBITDA growth for the fourth consecutive year despite significantly lower investments vis-à-vis competition, clearly reflected the telco’s ability to execute and compete effectively in this market.Vi’s revenue increased 3 per cent to ₹44,873 crore in FY26 from ₹43,571 crore a year earlier. EBITDA rose 4.8 per cent to ₹19,003 crore, while the EBITDA margin improved to 43.1 per cent from 41.6 per cent, reflecting disciplined cost management alongside steady revenue growth. Further, the management talked about the need for continued investments and innovation as the sector evolves with technological developments and changing customer preferences.In his first address after his return as the telco Chairman, Kumar Mangalam Birla deemed FY26 as “a year of resolution” with FY27 set to be the period of execution, particularly with the resolution of the Adjusted Gross Revenue (AGR) matter.Dubbing it as the most significant development of FY26, Birla in his letter to shareholders said, “The Company enters this phase with greater financial clarity, improving operating performance and renewed capacity to invest. The priorities ahead are clear: execute the network investment programme, strengthen market competitiveness and translate a stronger balance sheet into sustained growth in customers and earnings.”Vi’s AGR liability was revised at ₹64,046 crore, substantially below the earlier provisional figure of ₹87,695 crore. The reduction in liability, together with the recognition of the present value of future payments was a key factor contributing to the one-time profit after tax of ₹34,552 crore. More importantly, it removed a major source of uncertainty by establishing a clear long-term repayment schedule.“With the resolution of the AGR matter, Vi enters its next phase of growth with significantly greater financial clarity and stability. [Vi is] investing ₹45,000 crore towards network investments by FY29,” said the report.Meanwhile, in Business Services, Vi will increasingly focus on fast-growing segments such as Internet of Things (IoT), Cloud services and Smart Metering.Published on August 6, 2026