Latest Update: Vodafone Idea Limited (Vi) has been one of the most talked-about stocks in the Indian market. The company, which is a result of the merger between Vodafone India and Idea Cellular, has faced significant challenges over the past few years. However, with recent clarity on Adjusted Gross Revenue (AGR) dues and a major fundraising effort, the tide seems to be turning for this telecom major.
Long-term price targets are not just random numbers. They help investors understand where the stock could potentially head based on company fundamentals, industry growth, and financial health. In this article, we will look at the Vodafone Idea share price target for 2026 through 2030. We will keep the language simple and focus on facts.
Vodafone Idea Fundamentals
Understanding the fundamentals is key before looking at any Vodafone Idea share price target. Here is a snapshot of the company’s financial health based on recent data.
Key Financial Metrics: EPS, PE Ratio, and ROE
| Company Name | Vodafone Idea Limited |
|---|---|
| Market Capitalization | ₹ 1,12,027 Cr |
| P/E Ratio (TTM) | |
| Book Value | ₹ -7.61 |
| Face Value | 10.0 |
| Dividend Yield | 0 % |
| EPS (TTM) | -3.84 |
| ROE | |
| ROCE | -1.93 % |
| 52 Week High | 12.8 |
| 52 Week Low | 6.12 |
| Official Website | Vodafone Idea Limited |
Growth over the Last Past 5 Years
| Financial Year | Total Assets (₹ Cr) | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|---|
| 2021 | 55,051 | 41,952 | -44,233 |
| 2022 | 65,455 | 38,516 | -28,245 |
| 2023 | 77,727 | 42,177 | -29,301 |
| 2024 | 75,122 | 42,652 | -31,238 |
| 2025 | 83,045 | 43,571 | -27,383 |
Vodafone Idea Share Price Target 2026 to 2030 (Estimated)
| Year | Estimated Share Price Target (₹) |
|---|---|
| 2026 | ₹14- ₹18 |
| 2027 | ₹20-₹25 |
| 2028 | ₹28-₹35 |
| 2029 | ₹38-₹45 |
| 2030 | ₹50-₹60 |
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*Data Source: Value Research *
It is clear that the company is currently loss-making. The negative book value and debt-to-equity ratio indicate that liabilities exceed assets. However, investors are looking at the future potential.
Growth Forecasts
Analysts expect things to improve. Revenue is forecast to grow at about 10.8% per annum . While earnings are still projected to be negative for the next few years, the losses are expected to narrow significantly . The company aims to triple its EBITDA in the next three years .
Vodafone Idea Limited
Vodafone Idea Limited provides mobile telecommunication services across India . The company offers voice services including 4G VoLTE and Voice over WiFi, along with broadband data on 3G, 4G, and now 5G platforms .
Beyond consumer services, Vi is now focusing on enterprise solutions. They are moving into areas like the Internet of Things (IoT), cloud services, and even data center management . This shift from a traditional telecom to a “techco” is an important part of their long-term strategy.
The company holds a large spectrum portfolio. This includes mid-band 5G spectrum in 17 circles and mmWave spectrum in 16 circles . This gives them a solid foundation to compete in the next generation of telecom services.
Vodafone Idea Share Price Target 2026
By 2026, we expect the company to be in the middle of its three-year strategic reset . They have committed a massive ₹45,000 crore towards capital expenditure . This money is for network expansion and 5G rollout.
Key Drivers for 2026:
- 5G Expansion: Vi launched 5G in March 2025 and plans to expand it to all 17 circles . By 2026, this rollout should be well-established.
- AGR Relief: The government has frozen AGR liability, easing the cash flow pressure. Annual payments are now capped at just ₹124 crore for the next six years .
- ARPU Growth: The Average Revenue Per User (ARPU) has already increased to ₹186 . As more users shift to 5G, this number is expected to rise.
Considering these factors, the Vodafone Idea share price target 2026 is projected to be in the range of ₹14 to ₹18. The midpoint is around ₹16.
Vodafone Idea Share Price Target 2027
By 2027, the heavy capital expenditure should start showing results. The company aims for double-digit revenue growth .
Key Drivers for 2027:
- Monetization of 5G: Once the network is built, the focus will shift to making money from it. Expect higher tariffs and premium plans.
- Enterprise Growth: The pivot to tech and enterprise services (like IoT and cloud) will start contributing more to the top line .
- Subscriber Addition: With better network quality, the company hopes to add more 4G and 5G users consistently .
Based on these projections, the Vodafone Idea share price target 2027 is estimated between ₹20 and ₹25. The midpoint stands at ₹22.5.
Vodafone Idea Share Price Target 2028
Financial forecasts suggest that by the fiscal year 2028, the company’s revenue could reach around ₹572 billion to ₹587 billion .
Key Drivers for 2028:
- Potential Profitability: Analyst estimates show that net losses are expected to reduce dramatically by 2028 . The company might be on the verge of turning profitable.
- Return on Equity: ROE is forecast to be around 17% in three years (by 2028) . This is a healthy sign for long-term investors.
- Infrastructure Strength: With five years of consistent investment, the network infrastructure will be a key strength.
With the company nearing a turnaround, the Vodafone Idea share price target 2028 is projected to be in the ₹28 to ₹35 range. The midpoint is ₹31.5.
Vodafone Idea Share Price Target 2029
By 2029, the telecom market in India will likely be dominated by three private players. Vodafone Idea aims to be a strong contender in this space.
Key Drivers for 2029:
- Market Share Stabilization: The company should have stabilized its customer base and may even gain market share from weaker players.
- High-Value Customers: Focus will be on retaining high-ARPU customers rather than just adding low-value subscribers.
- Digital Services: New revenue streams from digital advertising, gaming, and the digital marketplace could become significant .
Considering the long-term growth trajectory, the Vodafone Idea share price target 2029 is expected to be between ₹38 and ₹45. The midpoint is ₹41.5.
Vodafone Idea Share Price Target 2030
Looking at 2030, we are talking about a company that has successfully executed its turnaround plan. The government currently holds a significant stake (around 49% post-conversion), which adds a layer of stability .
Key Drivers for 2030:
- Mature 5G Ecosystem: By 2030, 5G applications will be mainstream. Vi’s early investment in spectrum will pay off.
- Sustainable Cash Flows: The company is confident of generating sufficient cash flow to meet its obligations . This reduces financial risk.
- Industry Leadership: While it may not be the number one player, Vi aims to be a solid number two in terms of enterprise and premium services.
The Vodafone Idea share price target 2030 is the most optimistic, but it is based on the successful execution of current plans. The projected range is ₹50 to ₹60. The midpoint is ₹55.
Vodafone Idea Shareholding Pattern
The shareholding pattern tells us who owns the company. As of December 2025, the pattern is quite interesting.
Shareholding Pattern (December 2025)
| Category | Percentage |
|---|---|
| Promoters | 25.57% |
| Retail and Others | 62.83% |
| Foreign Institutions (FII) | 6.00% |
| Mutual Funds | 5.34% |
| Other Domestic Institutions | 0.27% |
What This Means:
- High Retail Participation: Over 62% of the company is owned by retail investors. This shows immense public interest in the Vodafone Idea stock forecast.
- Promoter Commitment: Promoters hold a solid 25.57%. They have infused ₹27,000 crore post-merger and continue to support the company .
- Increasing Institutional Interest: Mutual fund holding has increased from 3.14% in April 2025 to 5.34% in December 2025 . This suggests that institutions are slowly gaining confidence in the turnaround story.
Long-Term Outlook
Growth Opportunities
The road ahead for Vi is challenging but filled with opportunities. The company’s plan to invest ₹45,000 crore in Capex is a bold move . This will help them compete effectively with Jio and Airtel.
The enterprise segment is a massive opportunity. By offering IoT, cloud, and SD-WAN solutions, Vi is not just selling SIM cards. They are selling technology solutions to businesses . This market has high margins and less competition than the consumer space.
The government’s support has been crucial. By converting dues into equity and capping future payments, the government has ensured that Vi remains a going concern . A three-player market is essential for healthy competition, and the government seems committed to maintaining it.
Risks and Challenges
The biggest challenge remains the debt. Even though the AGR issue is resolved, the company still has significant liabilities. The negative book value is a concern for conservative investors .
Competition is fierce. Reliance Jio and Bharti Airtel are strong players with deeper pockets. Vi will need to execute its plans perfectly to avoid losing more market share.
While the company is projected to reduce losses, it is still expected to be unprofitable for the next few years . Investors need patience and a high-risk appetite.
Conclusion
Vodafone Idea is a classic turnaround story. The Vodafone Idea long term investment thesis relies heavily on successful execution of the Capex plan and the ability to increase ARPU. The Vodafone Idea share price target for 2030 suggests significant upside from current levels, but this is not without risk.
The company has the advantage of a large spectrum bank, government support, and a renewed focus on enterprise tech. However, the road to profitability is long. Investors should watch the quarterly results closely. If the company meets its targets of doubling revenue and tripling EBITDA, the price targets mentioned above could very well be achieved.