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Rank 011 Bharti Airtel Ltd Smart Bharti Airtel Limited Network. Smarter Experiences. Annual Report 2016-17 Corporate Information Board of Directors Mr. Sunil Bharti Mittal Chairman Mr. Gopal Vittal Managing Director & CEO (India & South Asia) Non-Executive Directors Mr. Ben Verwaayen Ms. Chua Sock Koong Mr. Craig Ehrlich Mr. D.K. Mittal Sheikh Faisal Thani Al-Thani Mr. Manish Kejriwal Mr. Rakesh Bharti Mittal Mr. Shishir Priyadarshi Ms. Tan Yong Choo Mr. V.K. Viswanathan Bharti Airtel International Bharti Airtel Limited is a leading global Netherlands B.V. telecommunications company with operations Mr. Raghunath Mandava Managing Director & CEO (Africa) in 17 countries across Asia and Africa. Headquartered in New Delhi, India, the Company Statutory Auditors ranks among the top three mobile service M/s. S. R. Batliboi & Associates LLP providers globally in terms of subscribers. Chartered Accountants In India, the Company’s offerings include 2G, Internal Auditors 3G and 4G wireless services, mobile commerce, M/s. ANB & Co. M/s. KPMG fixed line services, high speed home broadband, DTH, enterprise services, including national and Cost Auditors international long-distance services to carriers. M/s. R. J. Goel & Co. In other geographies, we offer 2G, 3G and 4G Cost Accountants wireless services and mobile commerce. Bharti Airtel had over 372 Mn global customers at the Secretarial Auditors end of March 2017. M/s. Chandrasekaran Associates Company Secretaries Registered & Corporate Office Bharti Airtel Limited The information contained in this Bharti Crescent, report can be accessed through 1, Nelson Mandela Road, the Airtel Investor Relations app available on the iPhone and iPad. Vasant Kunj, Phase – II, New Delhi – 110 070, India Website www.airtel.com For the online version of the Corporate Identification Annual Report please log on to Number (CIN) http://www.airtel.in/about- bharti/equity/results/ L74899DL1995PLC070609 Inside this Report Global Revenue PG 10 Corporate Overview 02 Delivering smarter experiences D954.7Bn globally 04 Value creation methodology 06 Product-wise performance Revenue Market Share PG 11 07 Strategic roadmap 08 Highlights during the year 10 Financial Highlights 12 Message from Chairman 33.8% 14 Message from Managing Director & CEO (India and South Asia) 15 Message from Managing Director Non Mobile Revenue Share PG 11 & CEO (Africa) 16 Smart network unveils an evolved way of life 24 New-age banking – 24.3% digital and inclusive 26 Africa is making its voice heard in a smarter world 28 Board of Directors 30 Encouraging Recognition 32 Corporate Social Responsibility “Telecommunications PG 12 & Sustainability continued to be an exciting arena. Rapid rollout of 4G data networks, sharply increasing smartphone Statutory Reports penetration and fast 43 Business Responsibility Report proliferating mobile 50 Directors’ Report applications enabled 86 Management Discussion and internet to enter Analysis customers’ everyday 106 Report on Corporate Governance lives in newer ways.” Equity Share Information Financial Statements • Market capitalisation: ` 1,398.89 Bn (March 31, 2017) • Proposed dividend: ` 1 per share (Face value ` 5) 127 Standalone Financial Statements with Auditors’ Report • Promoters holding: 67.14% 184 Consolidated Financial Statements • NSE: BHARTIARTL with Auditors’ Report • BSE: 532454 268 Statement Pursuant to Section • Bloomberg Code: BHARTI:IN 129 of the Companies Act, 2013 • Reuters Code: BRTI.NS 272 Circle Offices 2 Bharti Airtel Limited Annual Report 2016–17 Delivering smarter experiences globally Telecommunication continues to be a highly exciting and transformational arena globally. More so, in the emerging parts of the world, where extensive rollout of 3G and 4G data networks, unprecedented rise in smartphone penetration and fast proliferating mobile applications are shaping a highly integrated digital society. Amid this sweeping rate of change, the consumer is the biggest beneficiary. The consumer now has the most empowering device in his or her hand to stay ahead of the curve. In India, during the year, the industry saw rapid growth, disruption and consolidation at the same time. At Bharti Airtel, we navigated the challenges, with well thought- out strategies and sheer resilience. The result is that we managed to increase our revenue market share, which reached a lifetime high. At the same time, we continued our aggressive network transformation programme under ‘Project Leap’. With 180,000 mobile sites rolled out in the preceding two years, this is one of the largest network rollouts globally. During the year, we also emerged as the only industry player in India, with both 3G and 4G services in all 22 circles. With the launch of Airtel Payments Bank, we became the first among the licensees to go live in the country. Our wide and deep distribution network will enable us to emerge as a pre-eminent driver of financial inclusion and mobile banking in the country in the coming years. On the African front, we gained further momentum during the year as Airtel Africa turned Profit before Tax (PBT) positive for the first time. Our strategic initiatives in the continent focused on optimising distribution, elevating network experience for customers and building a rational cost structure. The result was an encouraging financial performance. Across the countries of our presence, we continue to improve our offerings, systems and processes to provide our customers an experience that is best-in-class. At the same time, our focus on community and sustainability initiatives remains unwavering. We are competing strongly in the fourth industrial era across parts of the world, while driving progress and prosperity for millions of people. With smart network and smarter experiences. Corporate Overview Statutory Reports Financial Statements 3 Leadership #1 #2 #3 Ranked telecom Ranked telecom Ranked mobile operator in India operator in Africa operator globally* *in terms of subscriber base Prominence 4% 355.7 Mn+ 76 Mn Of the world’s Mobile subscribers Wireless data population connected across Asia (India and customers across Asia through Airtel Sri Lanka) and Africa and Africa 1.87Bn+ 17 22.4 Mn Addressable Country presence New mobile subscriptions population globally, across Asia and Africa in India in FY 2016-17 considering the geographies in which Airtel has presence Progress 1.55Tn 903 Bn MB USD16.1 Bn Minutes of voice traffic Data traffic in Total Airtel Money in 2016-17 FY 2016-17 transaction value in 2016-17 Commitment D1,197Bn D2,912Bn ~ D930Bn Cumulative contribution Cumulative investments Spectrum investment to India’s government till date till date exchequer in the last five years 4 Bharti Airtel Limited Annual Report 2016–17 Value creation methodology An aspirational brand that is ready for the future Vision Objectives Our vision is to enrich Grow market share. Hold cost. the lives of our customers. Our obsession is to win customers for life by providing an exceptional experience. Values Alive. Inclusive. Respectful. Corporate Overview Statutory Reports Financial Statements 5 How we will win More high Grab increased share of 4G devices revenue (ARPU) Drive rapid data consumption, customers accelerate SIM consolidation and accelerate postpaid More Build the largest Payments Bank by services per creating differentiation customer Accelerate Airtel homes through brilliant service bundling Drive depth of product portfolio in B2B Brilliant Eliminate customer frustration across customer clusters experience Deliver a world class network experience Revamp our stores for improved growth and customer experience Win with the Accelerate home broadband, B2B Portfolio growth, and DTH Drive new revenue streams through a combination of content, innovation & alliances War on Drive down cost through challenging waste the status quo Accelerate active sharing, fiber and joint sourcing of bandwidth 6 Bharti Airtel Limited Annual Report 2016–17 Product-wise performance Mobile Services Homes Digital TV Bundled plans with unlimited voice Landline Android TV packs Attractive plans and offers Universal Remote First to launch 4G in India Highly reliable services MyPlan Customised Postpaid plans 24/7 online support Interactive services Myplan - customised plans as Value-added services per customer usage Infinity - Options with unlimited Internet benefits Introduced ‘V-Fiber’ technology Pocket-friendly data packs Up to 100 Mbps speed Recognised as the smartphone network Mobile India (D Mn) 2017 2017 2017 2,27,734 5,65,511 12,998 27,518 12,219 34,306 2016 2016 2016 2,19,387 5,60,638 10,648 25,066 9,976 29,178 Y-o-Y Revenues 1% Y-o-Y Revenues 10% Y-o-Y Revenues 18% EBITDA 4% EBITDA 22% EBITDA 22% Mobile Africa* (USD Mn) 2017 859 3,568 2016 667 3,448 Y-o-Y Revenues 3% EBITDA 29% * on constant currency, 15 countries operations Revenue Mix FY2016-17 Mobile Services India and South Asia East Mobile Services Africa Homes Digital Airtel Business Infrastructure Tower 56% 21% 3% 3% 11% 6% Corporate Overview Statutory Reports Financial Statements 7 Strategic roadmap Airtel Business Capitalise on huge Large-scale investments residual opportunity in place Diverse portfolio of services - voice, data, video, network integration, S-Curve on data Spectrum Bank data centres, managed services, India mobile broadband (3G/4G) Successful re-farming of sub-GHz enterprise mobility applications and penetration at ~20% (TRAI) spectrum for 3G digital media Smartphone shipments show Pan-India coverage of 3G/4G Strategically located submarine tremendous growth; smartphone Highest
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