Suyog Telematics Limited has informed the Exchange about Transcript
SUYOG · price
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Suyog Telematics reported a strong Q1 FY26 with standalone revenue of ₹516 million and EBITDA margin of 76%, one of the highest in the industry. Consolidated revenue stood at ₹546 million with net profit margin of 31.7%, helped by full-quarter contribution from the recently acquired Lotus Tele Infra (Delhi circle expansion). The company crossed 5,800 towers and 7,107 tenancies, with tenancy ratio improving from 1.10 to 1.22. BSNL's revenue share jumped to 4.7% from negligible levels, and the company is targeting 5,000–7,000 BSNL 4G micro sites by March 2026, with Vodafone planning another 15,000 sites. FY26 revenue is guided at ₹240–250 crore with major financial impact pushed to FY27. The company has ₹200–250 crore available (including ₹145 crore sanctioned loans from Axis and ICICI) and plans to bid for a BSNL EPC tender of 20,000–30,000 sites, targeting 4,000–5,000 EPC sites with 20–30% margins.
Strong margin performance and a clear BSNL/Vodafone rollout pipeline are positives, but FY26 revenue is being pushed back to FY27 and the company still needs significant additional funding (₹500–800 crore for the full rollout plan), which may require further equity dilution. Stock may react positively to the margin strength and order pipeline but remain cautious on funding and execution risks.