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%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Telecom and critical-infrastructure communication equipment (100%). Asset-light Indian telecom-equipment OEM focused on secure, mission-critical networking and cybersecurity hardware for utilities and defence, with high gross margins.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 13 | 32 | 46 | 51 | 85 |
| EBITDA (ex other income) | (3) | 4 | 10 | 14 | 30 |
| margin % | (24.0) | 13.6 | 22.2 | 27.1 | 35.6 |
| Owners' profit | (3) | 2 | 6 | 10 | 24 |
| EPS, as reported (₹) | (3.65) | 2.33 | 8.56 | 12.60 | 21.13 |
| ROE % · ROCE % | (8.5) · (11.5) | 5.1 · 6.6 | 12.0 · 15.8 | 15.6 · 20.5 | 25.0 · 32.8 |
| Debt / equity (x) | 0.00 | 0.05 | 0.03 | 0.03 | 0.02 |
| Cash from operations | (4) | 3 | 3 | 1 | 32 |
| Capex | (1) | (3) | (1) | (1) | (5) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 13 | 8 | 16 | 18 | 20 | 22 | 24 |
| Profit before tax | 4 | 4 | (1) | 6 | 6 | 7 | 8 | 11 |
| Net profit | 3 | 3 | (1) | 4 | 5 | 5 | 6 | 8 |
| EPS (₹) | 4.09 | 3.67 | (0.70) | 5.54 | 6.19 | 6.91 | 5.29 | 7.11 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| INDIA | 21 | 24.9 |
| USA | 4 | 4.2 |
| EUROPE | 2 | 2.0 |
| REST OF THE WORLD | 1 | 0.6 |
| India | 51 | 59.1 |
| Euope | 1 | 1.1 |
| Rest of the world | 4 | 4.2 |
| Europe | 3 | 3.7 |
| Total, before eliminations | 86 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Purchase Order of INR 1388 Lacs Received from Domestic Entity | business updates | high | — | — |
| 8 Sept 2026 · New domestic order worth INR 985 Lacs from Indian Power Utilities | business updates | high | — | — |
| 3 Sept 2026 · Newspaper advertisement filed with BSE under SEBI regulations | compliance | minimal | — | — |
| 3 Sept 2026 · Notice of 33rd AGM and Annual Report 2025-26 link for shareholders | compliance | minimal | — | — |
| 2 Sept 2026 · Annual report FY26: revenue up 66.90%, net profit up 127.66% | compliance | minimal | — | — |
| 2 Sept 2026 · Notice of 33rd AGM on September 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 20 Aug 2026 · TDS on Final Dividend: Rs.1.50 per share (15%) for FY2026 | compliance | minimal | — | — |
| 18 Aug 2026 · 33rd AGM notice published in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · 33rd AGM on Sept 30, 2026; Record Date Sept 10 for Rs 1.50 dividend | corporate actions | high | — | — |
| 13 Aug 2026 · AGM on Sep 30; Record Date Sep 10 for Final Dividend FY26 | corporate actions | high | — | — |
| 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 |
| VALIANT COMMUNICATIONS LTD. ◆ | 1,499 | 51.4 | 15.52 | 42.1 | 25.0 | 32.6 | 31.4 | 47.6 |
| ADC INDIA COMMUNICATIONS LIMIT | 1,058 | 55.9 | 12.20 | — | 21.8 | 28.2 | — | 8.2 |
| PUNJAB COMMUNICATIONS LTD. | 74 | 15.3 | 2.42 | — | 9.8 | 9.5 | — | 5.2 |
| TELOGICA LIMITED | 54 | — | 17.86 | — | (64.4) | (86.5) | — | (13.0) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 51.4 | 14.9 | 18 of 24 | 26% |
| P/B | 15.5 | 4.3 | 20 of 21 | 5% |
| ROCE | 32.6 | 9.7 | 3 of 30 | 93% |
| ROE | 25.1 | 9.1 | 4 of 29 | 89% |
| Debt / Equity | 0.0 | 0.0 | 12 of 29 | 61% |
| EBITDA margin | 47.6 | 20.0 | 8 of 28 | 74% |
| Revenue growth | 50.4 | 9.6 | 6 of 29 | 82% |
| Profit growth | 92.7 | 36.6 | 8 of 28 | 74% |
| Market cap | 1499 | 1530 | 16 of 30 | 48% |
| 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 |
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.
