Vodafone Idea cash Ebitda seen growing 32% CAGR during FY24-28

Analysts predict Vodafone Idea's cash EBITDA to grow at a 32% compounded annual rate from FY24-28, aided by customer additions and average revenue per user (ARPU) growth driven by potential tariff increases. Following a targeted fundraise of Rs 45,000 crore, Vi is expected to achieve around 3.3% and 10% compounded annual growth in customer additions and ARPU respectively over FY24-28. However, caution is advised as Vi may need to provide about Rs 22,000 crore in bank guarantees to the government post the completion of the payment moratorium on regulatory payouts in September 2025.