News Release
Delhi, May 19, 2015

VODAFONE INDIA FULL YEAR FY15 RESULTS
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Vodafone India is over INR 42,000 crores company by revenues; second largest MNC in India
Strong Service Revenue growth and further improvement in EBITDA margin %
Robust growth in Data, contributing 15% of service revenues (Q4 FY15)
Higher capex focusing towards network expansion and future growth areas o Amongst the largest global networks with 130,000+ sites
Fresh equity infusion of INR 6000 crores, reaffirming commitment to the country
India significant contributor to Vodafone Group o Highest contributor to Group Service Revenue growth o Largest data traffic market by volume o 3rd largest contributor to Group Service Revenues
Key FY15 KPI’s
SERVICE REVENUE AT INR 42,352 crores, UP BY 12.6 %
DATA (BROWSING) REVENUE AT INR 5,690 crores, UP BY 65.5 %
HEALTHY EBITDA MARGIN AT 29.6%

Vodafone India, one of the leading total telecommunications service providers in the country announced its Full
Year results (IFRS) for the period ended March 31, 2015

Key Financial Highlights: Vodafone India Standalone figures
Strong Financial Performance
 Consistent and strong revenue growth; service revenue of INR 42,352 crores in FY15 vs. INR 37,606 crores in
FY14, a growth of 12.6%
 Revenue performance driven by strong customer additions and robust growth in data revenues
 EBITDA at INR 12,605 crores in FY15 vs. INR 10,847 crores in FY14; Healthy EBITDA margin at 29.6%, led by higher data revenue and scale benefits.
 Operating Free Cash Flow (OFCF) at INR 3,228 crores in FY15 vs. INR 7,647 crores in FY14, on account of higher capital expenditure and IRU settlement with Indus
 High intensity of Capex spend of INR 8,598 crores in FY15; (up 37.4% vs. FY14) driven by significant investments in new site roll-out to deliver superior customer experience and growth in key focus areas
Good Momentum in Operations
 A base of around 184 million customers (growth of 10.4% YoY) serviced through a network of over 130,000 sites, of which over 35,000 are 3G sites.
 Substantial rural presence with a customer base of nearly 97.9 million in FY15 (53% of total customer base)
 Service Revenue ARPM at 50.0 paise and Voice ARPM at 36.1 paise (both Q4 FY15)
 Stable Service Revenue ARPU at INR 200 in Q4 FY15; supported by good quality of subscribers with active subscriber base (VLR) at 95.3% (Mar ‘15 exit)
 Robust performance by key business drivers with Data (Browsing) revenues contributing to 15% and
Vodafone Business Services now contributing 13% of Service revenues (both Q4 FY15)
Robust Performance in Data Driving Growth
 Data (Browsing) revenue at INR 5,690 crores in FY15, 65.5% growth YoY
 Strong uptake of Data continues with 40 million Data users with greater than 1MB usage (Mar ’15 exit)
 Over 175% growth in 3G users from 7 million (FY14) to 19.4 million (FY15), reflecting the focus on 3G
 3G revenues grew by 140% YoY, contributing to over 53% to data (browsing) revenue and volume
 Data usage/sub (for users >1MB) at 532 MB/month and 3G usage/sub at 662 MB/month (both Q4 FY15)
 Data ARPU (for users > 1MB) at INR 141 in Q4 FY15 v INR 120 in Q4 FY14
 Data usage and revenue growth led by higher smartphone penetration at 23.9% of total customer base, growth of over 75% YoY (Mar ‘15 exit)
 Continued to drive data usage through strategic partnerships with handset manufacturers and application providers to provide innovative value propositions and better customer experience

Vodafone Business Services (VBS) –a Robust, fully structured, Total Telecommunications Service Provider
 Expanding customer base to 6 million + corporate customers (Mar ‘15 exit)
 VBS grew at 22% overall YoY; led by accelerated growth in SME business.
 Access to over 625,000 km of global fiber assets post Cable and Wireless integration
 New Government vertical of VBS is actively engaged with Public Sector Enterprises and State Governments contributing to the Digital India vision.
M-Pesa, a new currency for India - Driving Financial Inclusion
 Pan-India footprint, largest banking business correspondent in the country with close to 90,000 authorised agents (greater than 90% of all bank branches in India), of which 58% are in rural areas (March 2015 exit)
 A base of over 3 million registered accounts/customers, doing over 100K transactions/day.
 Money Transfer transactions contribute over 60% of overall transactions
 Launched M-Pesa App as a key business differentiator, to enable convenient payment of bills & recharging on the move
 Enabling financial inclusion in line with government’s agenda o Executed government mandates; first of its kind disbursement of government subsidy directly into mobile wallets of the beneficiaries (MNREGA –Jharkhand, NRHM –Odisha) o Tied up with leading Microfinance institutions (MFI) in India to provide services through M-Pesa wallet
Other Highlights
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Spectrum Auctions (Mar ’15): o Acquired 78.4 MHz spectrum in 12 telecom circles across 900, 1800 and 2100 MHz in March 2015 auction; committed investment of INR 25,800 crores and emerged in a stronger competitive position o Secured business continuity in 6 circles for next 20 years where licenses were due to expire in Nov 2015 o Expanded own 3G spectrum from 9 to 16 circles; representing 88% of Vodafone India’s service revenues
Strategic tie-up with Apple to provide users with 2 fully loaded tariff plans and the iPhone at an all-inclusive

attractive EMI

Driving digital simplicity by offering easy-to-use mobility solutions on new, responsive website www.vodafone.in – enables customers to access their accounts, manage mobile usage, pay bills, add or

remove packs / services and recharge for themselves or others in just 30 seconds!
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Celebrating spirit of women empowerment launched ‘Women of Pure Strength’ – a coffee table book that chronicles the courage and strength of great women achievers

Awards and Recognitions
 Recognized as ‘India’s Most Admired Marketer for 2014’ in a survey by India’s leading financial daily
 Received ‘Top MNC for Leaders in India 2014’ award in a survey by AON Hewitt
 Ranked No 1 in Telecom and in Top 20 ‘India’s Best Companies to work for’ survey by Great Places to Work
 Vodafone Business Services (VBS) recognised as the ‘chosen leader for Telecom Carrier (Leased Lines and
Mobile Access)’ at CIO CHOICE 2015 awards
 Vodafone M-Pesa wins award for ‘Innovation in Enabling Digital Financial Inclusion’ at the CSI Award for
Excellence in IT and the ‘Most Inclusive Digital Wallet’ at the BFSI Leadership Summit and Awards
Sunil Sood, Managing Director and CEO, Vodafone India commented:

“During the year, we made significant capex investments to expand our network and reach while recording double digit revenue growth of 12.6% and enhanced EBITDA margin to 29.6%. All our focus areas – Data, Vodafone Business
Services and M-Pesa performed well and maintain a high growth trajectory. We continue to remain the brand of choice across customers segments – from first time data users in the hinterland to high end postpaid subscribers in urban areas. With in-depth knowledge of local markets, a holistic portfolio of products and services across the consumer and enterprise domains plus global experience and learning, Vodafone India is uniquely positioned to play a meaningful role in fulfilling the vision of Digital India.”

Key Financial Summary
VIL standalone
INR crores
Service revenue o/w Data browsing revenue
Total revenue
EBITDA
EBITDA margin (%)
Capital expenditure
Capital Intensity
Operating Free Cash Flow (OFCF)

FY15

FY14

YoY%

42,352

37,606

12.6%

5,690

3,437

42,526
12,605
29.6%
8,598
20.2%
3,228

37,777
10,847
28.7%
6,255
16.6%
7,647

65.5%
12.6%
16.2%
0.9ppt
37.4%

* Net Debt for Vodafone India standalone for FY15 is around INR 47,807 crores
Customers

FY15

FY14

YoY%

Mobile customers (million)
Data users (million) (>1MB usage)
Data users (million) (>0Kb usage)
3G users (million)
Churn% (annualized)
Contract
Prepaid
Total

183.8
40.0
63.8
19.4

166.6
29.5
52.0
7.0

10.4
35.7
22.6
175.9

20.9
52.6
50.5

18.5
49.6
47.7

2.4
3.0
2.8

Notes to Editors:
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Vodafone India financials represent Vodafone India standalone only
Data KPIs’ are restated for >1MB data users i.e. with > 1MB data usage on GPRS or 3G network in the last month
Data here refers to pure browsing revenue. Total Data Users (> 0KB usage) is at 63.8mn
Disclosure of Voice ARPM from H1FY15 (Mobile Voice revenue/Total Mobile Minutes)
M-Pesa’, Vodafone RED are the trademarks of Vodafone Group

About Vodafone India
Vodafone India is a fully owned subsidiary of Vodafone Group Plc., which is one of the world’s largest telecommunications companies. Making its entry into India in 2007, Vodafone today has built an ever growing, robust business in highly price sensitive and competitive market. Serving around 184 million customers, Vodafone provides innovative, customer friendly and differentiated products and services through a wide scale distribution and exclusive retail footprint - backed up with a modern, technologically advanced network for both voice and data.
Vodafone Business Services, the enterprise arm of Vodafone, provides total telecommunications solutions across both mobility and wireline platforms and enables Global Enterprises, National Corporates, SME’s and Government segments to communicate, collaborate and connect.
Vodafone India provides customers with a new currency in the form of M-Pesa, the world renowned mobile wallet and money transfer service. Vodafone M-Pesa is an innovative, safe and secure mobile wallet that enables complete suite of services like money transfer, bill payments, and recharge on the move from the mobile. It caters to all segments of the society, from the unbanked to the under banked and to the net-savvy and evolved customers. Today, with a pan-India distribution of around
90,000 agents and more than 3 million customers, Vodafone M-Pesa is the largest banking correspondent in the country and is playing a vital role in enabling financial inclusion and m-commerce.
With the advantage of its global expertise and knowledge of local markets, Vodafone India is well poised to significantly expand the Government's capacity to deliver benefits and outcomes for citizens, governments and businesses. It endeavours to be a steadfast partner in the Government’s efforts towards Digital India
A value based organisation; Vodafone is committed to achieving the highest standards of Health, Safety and Well-being for its employees and business partners. Sustainability is an integral part of the company’s mission and strategy and ‘Vodafone Cares’ is the platform to showcase initiatives under the pillars of education, environment and empowerment. The Vodafone
Foundation, in turn, is committed to leveraging India’s pressing challenges using mobile technology, thus playing an important role in India’s digitisation programme. Its activities focus on the 4M’s for empowering individuals – mHealth, mEducation, mAgriculture and mWomen.
Vodafone Group Plc. is one of the world’s largest telecommunications companies and provides a range of services including voice, messaging, data and fixed communications. Vodafone has mobile operations in 26 countries, partners with mobile networks in 55 more, and fixed broadband operations in 17 markets. As of 31 st March 2015, Vodafone has around 446 million mobile customers and over 12 million fixed broadband customers. For more information, please visit: www.vodafone.com.
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For Further Information, please contact:
Vodafone India | indiacorpcomm@vodafone.com