The company had over 223.0 million subscribers and a subscriber market share of 19.3% as of December 31, 2023, as per the TRAI Subscription Report.
The company has a spectrum portfolio comprising 8,005.2 MHz across various frequency bands, with 7,975.2 MHz spectrum being liberalized and deployable for any technology (2G, 3G, 4G, or 5G). This includes mid-band 5G spectrum (3300 MHz band) in 17 priority service areas and mmWave 5G spectrum (26 GHz band) in 16 service areas.
As of December 31, 2023, the company maintains a distribution and service network encompassing over 10,000 distributors catering to approximately 787,000 retailers across India.
The company's promoters, Aditya Birla Group and Vodafone Group, have provided financial backing to the company. In 2019, the company received Rs. 179.2 billion from its Promoter Group through a rights issue. Subsequently, between March 2022 and July 2022, the Promoter Group invested Rs. 49.35 billion in the company.
The company reported revenue from operations of Rs. 41,952 cr, Rs. 38,515 cr and Rs. 42.177 cr in FY 2021, 2022 and 2023 respectively.
The company's statutory auditors reviewed its financial condition up to December 31, 2023, and highlighted its cash flow constraints for settling debts due. They noted material uncertainty regarding the company's ability to continue as a going concern in reports spanning the nine months ended December 31, 2023, and December 31, 2022, as well as in audit reports for the Financial Years 2023, 2022, and 2021.
The company’s total indebtedness as of February 2024 amounts to Rs. 2,01,829 cr.
The company faces intense competition from established players like Bharti Airtel, Reliance Jio, BSNL and MTNL.
The company is involved in outstanding legal proceedings, along with certain Subsidiaries, Promoters, Directors, and Group Companies. Adverse outcomes in any of these proceedings may have detrimental effects on the company's reputation, business operations, financial condition, and results.
The company has experienced losses in recent periods and may not attain or maintain profitability in the future. Losses after tax for the nine months ended December 31, 2023, and December 31, 2022, and the Financial Years 2023, 2022, and 2021 were Rs. (23,563.8) cr, Rs. (23,187) cr, Rs. (29,301.1) cr, Rs. (28,245.4) cr, and Rs. (44,233.1) cr, respectively.
The Supreme Court of India issued a judgment granting 10 years to the company and other Telecom Service Providers for paying AGR (Adjusted gross revenue) dues in yearly instalments. Failure to make timely payments as directed by the Supreme Court could negatively impact the company's business, results of operations, and competitiveness.