Suyog Telematics Ltd
Suyog Telematics Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Suyog Telematics targets substantial growth driven by BSNL and Vodafone tower rollouts. Significant growth expected from BSNL and Vodafone Idea rollout, targeting 15,000 new tenancies by March-end FY26, with potential addition of 5,000 more subsequently.
From Suyog Telematics Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Suyog Telematics targets substantial growth driven by BSNL and Vodafone tower rollouts.
- BSNL plans to roll out 20,000+ towers in FY26, with Suyog aiming to add around 5,000 tenancies for BSNL in the current financial year.
- Vodafone intends to roll out approximately 15,000 towers; clarity on Vodafone-related tenancy numbers expected by September or October 2025.
- Overall, the telecom industry expects to roll out about 35,000 towers in the next two quarters.
- Suyog aims to add 7,000 to 10,000 tenancies between Vodafone and BSNL by March 2026.
- Revenue guidance for FY26 is around ₹240 to ₹250 crores, with potential to increase to around ₹250 crores in FY27.
- Major rollout activity and revenue impact are expected in Q3 and Q4 of FY26.
- Upgrades for Airtel and Jio and increasing tenancy ratios are expected to improve revenue per tenancy going forward.
Profitability & Margins
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Capital Expenditure Plans
- Q1 FY26 Capex was around ₹35-40 crores.
- Planned rollout of 5,000 new BSNL tower tenancies in FY26, requiring significant capital investment.
- EPC contract for building 4,000-5,000 towers for BSNL, with per tower CAPEX of ₹15-20 lakhs and margin of 20-30%.
- Total tower rollout plans from BSNL (20,000 sites) and Vodafone (approximately 15,000 sites), requiring substantial funding estimated between ₹500-800 crores.
- Company has ₹145 crore loan sanctioned (₹45 crore used) and clear visibility of ₹200-250 crores cash flow available for rollout.
- Management confident about arranging balance funding through banks and investors to meet rollout targets.
- Focus on upgrades for existing sites (Airtel and Jio) contributing to improved EBITDA and revenue per tenant.
- No immediate equity fundraise due to market conditions; alternative funding options being explored.
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Fundraising & Capital Structure
See what Suyog Telematics Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current tenancy stands at over 7,000 with plans to add around 5,000 tenancies for BSNL in FY '26.
- Vodafone rollout plans around 15,000 towers for the year, with clarity expected by September/October.
- BSNL's EPC tender floated again for 4,000-5,000 sites after cancellation; submission deadline is August 25, 2025.
- Total industry rollout expected around 35,000 towers (20,000 BSNL + 15,000 Vodafone) in the next two quarters.
- Management aims to achieve 10,000 total tenancies by end of FY '26 with possible overachievement.
- Order book has no significant change; 5,000 targeted BSNL tenancies include both new and pending orders.
- EPC contracts are one-time revenues and separate from regular tenancy contracts.
- Clear visibility of ₹200-250 crore funding currently available to support deployments.
- Further funds of ₹500-800 crore may be required depending on rollout scale and tender wins.
Suyog Telematics Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹53 Cr, net profit ₹14 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Suyog Telematics Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Suyog Telematics Ltd Q1 FY26 results?
Suyog Telematics targets substantial growth driven by BSNL and Vodafone tower rollouts. Significant growth expected from BSNL and Vodafone Idea rollout, targeting 15,000 new tenancies by March-end FY26, with potential addition of 5,000 more subsequently.
What is Suyog Telematics Ltd share price analysis?
Suyog Telematics Ltd currently shows a neutral. The stock trades at a P/E of 15.9 with a market cap of ₹993 Cr. Investors should review the full earnings analysis for detailed insights.
Is Suyog Telematics Ltd planning capital expenditure?
Q1 FY26 Capex was around ₹35-40 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.