VALIANT COMMUNICATIONS LTD.

Designs, manufactures and supplies telecom and critical-infrastructure communication equipment — including NTP time servers, hardware network-isolation (kill switch) devices, anti-jamming GPS and NavIC timing gear, NAS/SAN data storage and cybersecurity hardware — to power utilities, railways, oil and gas, airports, defence and SCADA operators. FY26 consolidated revenue was Rs. 84.87 crore with profit after tax of Rs. 24.18 crore, and the single disclosed segment booked Rs. 72.15 crore of segment revenue at Rs. 47.93 crore of EBIT. The company reports installations in more than 110 countries; India is the largest disclosed geography at Rs. 21.39 crore for the year, with USA (Rs. 0.5 crore), Europe (Rs. 1.56 crore) and the rest of the world (Rs. 0.54 crore) making up the disclosed foreign mix. A confirmed gross order book of Rs. 6,892 lakhs is supplemented by Rs. 1,550+ lakhs of L1-status orders and Rs. 9,000+ lakhs of advanced-stage opportunities. Recent wins include a BHEL rate contract for indigenously manufactured PMU equipment, exports to Uniper SE (Germany), Oak Ridge National Laboratory (USA) and Kenya Electricity Transmission Company, and a Rs. 738 lakhs domestic purchase order for communication equipment to be delivered by 31 March 2027. Materials are the largest operating cost at 31.6% of revenue, followed by other opex at 17.9% and employee costs at 12.8%, leaving EBITDA margin at 41.5%.