BSE: 544751
MEHUL TELECOM LIMITED
Operates a multi-brand mobile phone retail chain in Gujarat under the brands 'Mehul Telecom' and 'Mobile Daddy', selling handsets and related devices to retail consumers. As of May 2026, the company runs 80 stores across 15 districts, split into 6 company-owned company-operated (COCO) outlets and 74 franchise-owned franchise-operated (FOFO) outlets. Revenue from operations was Rs 20,012 lakhs in FY26, up 73% from Rs 11,547 lakhs in the prior year, with profit after tax of Rs 996.39 lakhs. In 2026, the company opened new outlets in Rajkot, Adipur, Anjar, Thangadh, and Gandhinagar, and announced plans to expand into Tier I cities. Equity shares were listed on BSE on April 24, 2026 under scrip code 544751, with IPO proceeds earmarked for working capital, retail expansion, and brand building. FY26 saw working capital pressure, with negative operating cash flow of Rs 371.30 lakhs driven by a Rs 1,192.35 lakhs rise in trade receivables and Rs 1,049.31 lakhs rise in inventory. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Multi-brand mobile phone retail. Franchise-heavy multi-brand mobile retail, recently listed
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 200 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 13.07 |
| ROE % · ROCE % | — · 37.1 |
| Debt / equity (x) | — |
| Cash from operations | (4) |
| Capex | (1) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 106 |
| Profit before tax | 7 |
| Net profit | — |
| EPS (₹) | 6.81 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TRENT LTD | 1,50,394 | 61.3 | 21.16 | 40.0 | 24.2 | 26.2 | 50.6 | 20.1 |
| LENSKART SOLUTIONS LTD | 1,16,496 | 174.9 | 13.16 | 60.5 | 5.7 | 5.8 | — | 24.2 |
| VEDANT FASHIONS LIMITED | 11,516 | 28.6 | 7.54 | 15.8 | 8.5 | 8.4 | — | 52.7 |
| ADITYA BIRLA LIFES BRAN L | 9,142 | 51.7 | 6.47 | 7.2 | 12.1 | 5.0 | — | 16.0 |
| ADITYA VISION LIMITED | 7,307 | 52.5 | 10.61 | — | 17.0 | 17.4 | — | 10.6 |
| V2 RETAIL LIMITED | 5,721 | 3.7 | 6.34 | 12.1 | 18.0 | 14.2 | 41.6 | 14.1 |
| ARVIND FASHIONS LIMITED | 4,928 | 41.1 | 4.25 | 7.5 | 15.8 | 12.9 | 19.1 | 13.0 |
| ADITYA BIRLA FASHION & RT | 4,876 | — | 0.78 | 7.0 | (13.3) | (7.1) | 9.3 | 8.5 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.1 | 26.3 | 7 of 19 | 67% |
| ROCE | 36.3 | 10.0 | 1 of 20 | 100% |
| Market cap | 99 | 735 | 17 of 20 | 16% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Mehul Telecom opens MOBILE.COM franchise store in Tankara | business updates | low | — | — |
| 22 Oct 2026 · Mehul Telecom opens franchise store in Himmatnagar, Gujarat | business updates | low | — | — |
| 20 Oct 2026 · New franchise retail store opened in Visnagar, Gujarat | business updates | low | — | — |
| 19 Oct 2026 · Mehul Telecom Opens 3 New Franchise Stores in Gujarat | business updates | low | — | — |
| 17 Oct 2026 · Mehul Telecom Opens 2 New Franchise Stores in Gujarat | business updates | low | — | — |
| 14 Oct 2026 · Mehul Telecom Opens New Franchise Store in Metoda, Rajkot | business updates | low | — | — |
| 14 Oct 2026 · Clarification on share price movement - no undisclosed information | regulatory legal | medium | — | — |
| 12 Oct 2026 · Mehul Telecom opens 3 new franchise stores in Gujarat | business updates | low | — | — |
| 8 Oct 2026 · Escrow Payment Mechanism not applicable, company confirms | compliance | minimal | — | — |
| 8 Oct 2026 · Routine compliance certificate confirming all shares are in demat form | compliance | minimal | — | — |
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.