BSE: 523411
ADC INDIA COMMUNICATIONS LIMIT
Designs and supplies structured cabling and connectivity systems — fibre and copper cable assemblies, high-density rack panels, and wire-mesh basket systems for data centres — for IT networks and telecom infrastructure. Revenue runs across two segments: IT-Networking, which generated Rs 181.89 crore in FY26 (up from Rs 165.67 crore in FY25), and Telecommunications, which generated Rs 18.17 crore (down from Rs 21.43 crore). The IT-Networking segment sells fibre and copper structured cabling, broadband connectivity hardware, and data centre rack solutions to data centres, broadband rollouts, 5G, and enterprise campus builds. The Telecommunications segment supplies telecom-grade connectivity hardware, with revenue declining over the year. The business holds a zero-debt balance sheet with Rs 47.64 crore in net cash at FY25 end, EBITDA margins of 12.465% in FY26, and reported DSO of 60 days and inventory days of 42. Raw materials, with copper flagged as a key commodity by management, form the largest cost line at 6.7% of revenue. The entity is now an indirect majority-owned subsidiary of Amphenol Corporation following the August 2025 acquisition of CommScope's CCS business. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. IT-Networking, Telecommunications. B2B, asset-light structured cabling and connectivity with commodity (copper) exposure
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 119 | 143 | 179 | 187 | 200 |
| EBITDA (ex other income) | 11 | 10 | 26 | 29 | 21 |
| margin % | 8.9 | 7.2 | 14.6 | 15.6 | 10.3 |
| Owners' profit | 8 | 8 | 21 | 24 | 19 |
| EPS, as reported (₹) | 18.44 | 17.77 | 44.97 | 53.17 | 41.15 |
| ROE % · ROCE % | 16.9 · 22.6 | 15.7 · 21.2 | 29.2 · 39.0 | 35.0 · 46.4 | 21.8 · 28.2 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 8 | (4) | 19 | 26 | 13 |
| Capex | (0) | (0) | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49 | 51 | 42 | 46 | 45 | 46 | 48 | 61 |
| Profit before tax | 9 | 12 | 8 | 4 | 7 | 5 | 8 | 5 |
| Net profit | 7 | 9 | 6 | 3 | 5 | 4 | 6 | 4 |
| EPS (₹) | 15.13 | 18.96 | 12.66 | 6.41 | 10.81 | 9.37 | 13.33 | 7.63 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Telecommunicataion | 7 | 3.6 |
| IT- Networking | 54 | 27.0 |
| Telecommunications | 4 | 2.1 |
| IT - Networking | 128 | 64.0 |
| Telecommunication | 7 | 3.3 |
| Total, before eliminations | 200 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| VALIANT COMMUNICATIONS LTD. | 1,867 | 64.0 | 19.34 | 52.6 | 25.0 | 32.6 | 31.4 | 47.6 |
| ADC INDIA COMMUNICATIONS LIMIT ◆ | 982 | 51.9 | 11.32 | — | 21.8 | 28.2 | — | 8.2 |
| PUNJAB COMMUNICATIONS LTD. | 61 | 20.5 | 2.00 | — | 9.8 | 9.5 | — | 5.2 |
| TELOGICA LIMITED | 47 | — | 15.56 | — | (64.4) | (86.5) | — | (13.0) |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 51.9 | 20.5 | 16 of 21 | 25% |
| P/B | 11.3 | 4.5 | 17 of 21 | 20% |
| ROCE | 28.2 | 10.2 | 4 of 27 | 89% |
| ROE | 21.8 | 12.9 | 6 of 21 | 75% |
| Debt / Equity | 0.0 | 0.3 | 1 of 21 | 90% |
| EBITDA margin | 8.2 | 20.0 | 21 of 28 | 26% |
| Revenue growth | 33.9 | 9.6 | 8 of 29 | 75% |
| Profit growth | 19.1 | 36.6 | 17 of 28 | 41% |
| Market cap | 982 | 2310 | 19 of 30 | 38% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Routine RTA certificate filing under SEBI Reg 74(5) for Jul-Sep 2026 | compliance | minimal | — | — |
| 25 Sept 2026 · Board meeting on Nov 12, 2026 to approve Q2 and H1 FY27 results | results | low | — | — |
| 25 Sept 2026 · Trading window closed Oct 1 to Nov 14, 2026 ahead of Q2 results | results | low | — | — |
| 25 Sept 2026 · Request for KYC update and dematerialisation of shares | compliance | minimal | — | — |
| 14 Sept 2026 · Special Window for Dematerialisation of Physical Shares | compliance | minimal | — | — |
| 14 Aug 2026 · ADC India Q1 FY27 results: Revenue up 41% YoY, profit after tax up 73% YoY | compliance | minimal | — | — |
| 12 Aug 2026 · ADC India Q1 FY27 net profit up 73% YoY, revenue grows 41% | results | high | — | — |
| 12 Aug 2026 · ADC India Q1 FY27 profit jumps 73% YoY on strong revenue growth | results | high | — | — |
| 8 Aug 2026 · 38th AGM concludes, all 3 resolutions passed; Rs.25 dividend approved | board shareholder meetings | low | — | — |
| 8 Aug 2026 · 38th AGM Results: Dividend of Rs.25 Approved, All Resolutions Passed | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.