Suyog Telematics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹525 Cr
- P/E
- 8.88
- ROE
- 14.01%
- PEG
- 0.85
- Price to sales
- 2.23
- Debt to equity
- 0.69
- 52W high / low
- ₹901 / ₹443
- Sales growth (5Y)
- 9.68%
- EBITDA margin
- 66.46%
- Net profit margin
- 29.77%
- Promoter holding
- 51.64%
- Sales (last year)
- ₹235 Cr
Incorporated in 1995, Suyog Telematics Limited is engaged primarily in the business of installing, commissioning and servicing of poles, towers and optical fibre cable (OFC ) systems, catering to the telecommunication industry with operators across 12 telecom circles in India. The company is registered as Infrastructure Provider Category-I (IP-I) with the Department of Telecommunications (DoT).
Guidance scorecard · Q1 FY27 call
What Suyog Telematics Ltd's management guided
and where it ranks in Telecom - Services
Telecom - Services
RevenueQ1 FY27 call
20–40%- FY27: Targeting 3,000 additional tenancies, mainly from Vodafone Idea (VI).
- FY28: Eyeing another 5,000 new sites from Vodafone; total 8,000 to 10,000 tenancies from Vodafone over two years.
- Vodafone’s rollout expected to be aggressive with 30,000 sites planned in the current year; Suyog aims for 10% market share (~3,000 sites).
- BSNL plans 2 lakh sites in next 5 years, but rollout delayed due to equipment issues; revenue expected post resolution, potentially starting Q2 FY27.
- Annual new tower addition run-rate realistically estimated at 3,000 to 5,000 sites based on visibility and funding.
- Tenancy ratio aimed to improve from 1.2x to 1.8x in 3-4 years, increasing EBITDA and PAT margins.
2 more points from Suyog Telematics Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
FlatSee what Suyog Telematics Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Suyog Telematics is investing in zinc batteries as a strategic move to reduce CapEx and dependency on imported lithium batteries. Zinc batteries are ready for production, with trials starting mid-September. Zinc batteries are 100% made in India and priced…
- The company continues capital investment in rolling out telecom towers, targeting 3,000 additional tenancies for Vodafone Idea in FY27, mostly involving new tower setups (80% new towers, 20% shared tenancy).
- Fibre network investment remains marginal (5-8% of revenue), as most rural sites use microwave; a future jump in fibre CapEx and revenue is expected with FTTH and fibre rollout for operators.
- Current funding for rollout is from internal accruals; fundraising decisions will be made if new bulk orders exceed funding capacity.
FundraisingQ1 FY27 call
PlannedSee what Suyog Telematics Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current orderbook includes approximately 850 tenancies from Vodafone Idea (VI) – 150 tenancies completed in Q1 FY27 and 700+ in the pipeline.
- Target for FY27 is to add 3,000 tenancies from VI, with 3,000 seen as conservative and achievable given execution capacity and funds.
- BSNL pending billing for 186 sites due to Tejas equipment issues, expected to start contributing from Q2 FY27 after resolution.
- Vodafone rollout plans: Currently targeting 3,000 tenancies in FY27 and 5,000 in FY28 from their bulk order of 45,000 sites.
- Vodafone funding for rollout includes INR 6,400 crore secured; awaiting further funding confirmation from SBI consortium.
2 more points from Suyog Telematics Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Telecom - Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Telecom - Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹39,185 Cr | 68.4 | |
| 2 | 40%+ | Flat | ₹3,509 Cr | 11.7 | |
| 3 | 40%+ | Flat | ₹3,372 Cr | 15.5 | |
| 4 | 20–40% | Flat | ₹11.94L Cr | 38.2 | |
| 5 | 20–40% | Flat | ₹81,095 Cr | 43.9 | |
| 6 | 20–40% | Flat | ₹52,416 Cr | 41.4 |
Sign up free to see every company in the sector ranking and track Suyog Telematics Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Telecom - Services rankingFinancials of Suyog Telematics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Suyog Telematics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 38 | 39 | 41 | 42 | 45 | 46 | 48 | 49 | 50 | 52 | 52 | 53 | 53 |
| Expenses + | 14 | 12 | 13 | 8 | 17 | 13 | 13 | 15 | 42 | 12 | 13 | 15 | 13 |
| Operating Profit | 24 | 27 | 28 | 34 | 29 | 33 | 35 | 34 | 8 | 39 | 40 | 38 | 40 |
| OPM % | 63% | 70% | 69% | 81% | 63% | 71% | 73% | 70% | 16% | 76% | 76% | 71% | 76% |
| Other Income + | 1 | 1 | 3 | 1 | 2 | 2 | 5 | 1 | 0 | 2 | 1 | 1 | 1 |
| Interest | 5 | 4 | 6 | 5 | 4 | 3 | 4 | 4 | 5 | 5 | 5 | 5 | 6 |
| Depreciation | 10 | 7 | 8 | 8 | 10 | 11 | 11 | 12 | 13 | 14 | 14 | 14 | 15 |
| Profit before tax | 10 | 16 | 17 | 22 | 16 | 21 | 25 | 19 | -9 | 21 | 22 | 19 | 20 |
| Tax % | -20% | 24% | 6% | 11% | 4% | 19% | 18% | 12% | 52% | 20% | 24% | 25% | 28% |
| Net Profit + | 13 | 12 | 16 | 19 | 16 | 17 | 20 | 17 | -14 | 17 | 17 | 15 | 14 |
| EPS in Rs | 12.06 | 11.68 | 15.42 | 17.92 | 14.74 | 15.84 | 18.76 | 15.90 | -12.38 | 15.20 | 14.83 | 12.41 | 12.07 |
Financials of Suyog Telematics Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 22 | 44 | 61 | 85 | 105 | 122 | 132 | 126 | 144 | 167 | 193 | 209 |
| Expenses + | 13 | 20 | 32 | 51 | 53 | 67 | 66 | 40 | 51 | 49 | 82 | 53 |
| Operating Profit | 9 | 24 | 29 | 34 | 52 | 56 | 66 | 87 | 93 | 117 | 110 | 157 |
| OPM % | 39% | 54% | 48% | 40% | 50% | 45% | 50% | 69% | 65% | 70% | 57% | 75% |
| Other Income + | 0 | 0 | 3 | 2 | 2 | 1 | 3 | 6 | 9 | 8 | 9 | 5 |
| Interest | 2 | 3 | 5 | 8 | 7 | 6 | 10 | 14 | 16 | 20 | 17 | 21 |
| Depreciation | 2 | 3 | 3 | 4 | 6 | 7 | 16 | 22 | 26 | 34 | 47 | 58 |
| Profit before tax | 5 | 18 | 24 | 24 | 42 | 43 | 42 | 57 | 59 | 71 | 56 | 82 |
| Tax % | 37% | 34% | 28% | 23% | 31% | 24% | 42% | 27% | 22% | 11% | 28% | 24% |
| Net Profit + | 3 | 12 | 17 | 18 | 29 | 33 | 24 | 41 | 46 | 63 | 41 | 62 |
| EPS in Rs | 3.30 | 11.82 | 16.69 | 18.20 | 28.20 | 32.53 | 24.03 | 39.48 | 44.18 | 59.38 | 36.43 | 53.15 |
| Dividend Payout % | 0% | 0% | 0% | 5% | 9% | 2% | 0% | 3% | 1% | 2% | 5% | 0% |
Financials of Suyog Telematics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 12 |
| Reserves | 15 | 27 | 42 | 60 | 87 | 117 | 133 | 178 | 224 | 288 | 389 | 477 |
| Borrowings + | 13 | 27 | 61 | 61 | 58 | 44 | 93 | 118 | 158 | 150 | 213 | 335 |
| Other Liabilities + | 8 | 22 | 26 | 29 | 49 | 74 | 77 | 55 | 87 | 51 | 62 | 73 |
| Total Liabilities | 44 | 84 | 138 | 160 | 204 | 245 | 314 | 361 | 480 | 500 | 676 | 898 |
| Fixed Assets + | 20 | 39 | 68 | 86 | 101 | 126 | 196 | 256 | 340 | 366 | 410 | 539 |
| CWIP | 2 | 4 | 6 | 5 | 11 | 14 | 19 | 12 | 3 | 7 | 46 | 88 |
| Investments | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 14 | 13 |
| Other Assets + | 20 | 39 | 64 | 67 | 92 | 105 | 98 | 92 | 136 | 127 | 205 | 258 |
| Total Assets | 44 | 84 | 138 | 160 | 204 | 245 | 314 | 361 | 480 | 500 | 676 | 898 |
Financials of Suyog Telematics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 4 | 2 | -1 | 33 | 40 | 59 | 60 | 47 | 67 | 72 | 71 | |
| Cash from Investing Activity + | -11 | -11 | -27 | -21 | -27 | -36 | -45 | -74 | -108 | -63 | -146 | |
| Cash from Financing Activity + | 7 | 13 | 28 | -12 | -12 | -18 | -18 | 27 | 40 | -7 | 96 | |
| Net Cash Flow | -0 | 4 | 0 | -0 | 1 | 4 | -3 | 0 | -1 | 1 | 21 | |
| Free Cash Flow | -7 | -9 | -33 | 10 | 13 | 24 | 14 | -28 | -34 | 8 | -59 | |
| CFO/OP | 59% | 13% | 7% | 113% | 87% | 119% | 101% | 66% | 84% | 73% | 76% |
Financials of Suyog Telematics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 45 | 92 | 78 | 51 | 56 | 80 | 74 | 77 | 103 | 101 | 119 | 106 |
| Inventory Days | 9 | 15 | 14 | 22 | 13 | 25 | 103 | 96 | 154 | 150 | 189 | |
| Days Payable | 68 | 53 | 82 | 189 | 278 | 299 | 250 | 742 | 339 | 321 | 766 | |
| Cash Conversion Cycle | 45 | 33 | 40 | -17 | -111 | -185 | -199 | -70 | -542 | -83 | -52 | -470 |
| Working Capital Days | 2 | 6 | 116 | 58 | 64 | 8 | -37 | 15 | -7 | 11 | 47 | 143 |
| ROCE % | 25% | 43% | 33% | 26% | 34% | 30% | 26% | 26% | 22% | 22% | 14% | 14% |
Guidance history
How Suyog Telematics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
2 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −41.9% | 10% |
| Last 6 months | −41.3% | 2% |
| Last 3 months | −48.0% | 0% |
The price is 76.4% below its all-time high of ₹1,898.85 (29 Nov 2024). Stocks more than 20% below their peak have their score halved, so 5 became 2.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Suyog Telematics Ltd: 0.4 × 10 + 0.4 × 2 + 0.2 × 0 = 5, halved to 2 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Suyog Telematics Ltd's management said in earlier quarters
Others in Telecom - Services this season
- Indus Towers Ltd (Q2 FY27)
3,268 million (~4.0% growth). Key results statement takeaways from Indus Towers Ltd's Q2 FY27 results statement — and how it ranks against sector peers.
- Route Mobile Ltd (Q2 FY27)
Q2 FY 26-27 revenue: ₹11,797 mn, up 5.4% YoY and 2.4% QoQ (Page 16) . Key investor presentation takeaways from Route Mobile Ltd's Q2 FY27 investor presentation
- Railtel Corporation of India Ltd (Q2 FY27)
19,478 lakhs (~20.46% growth) . Key results statement takeaways from Railtel Corporation of India Ltd's Q2 FY27 results statement — and how it ranks against sec
- Tata Teleservices (Maharashtra) Ltd (Q2 FY27)
EBITDA:** ₹235 crores, up 48% year-on-year . Key results statement takeaways from Tata Teleservices (Maharashtra) Ltd's Q2 FY27 results statement — and how it r