Punjab Communications (BSE: PUNJCOMMU) had a P/E of 11.1× on 6 Nov 2026, below the industry P/E of 40.6×, and the shares are 31% below their 52-week high. It earns ROCE of 9.6% and ROE of 10%, and sales grew 36% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. It is a small-cap company with a market cap of ₹61 Cr, ranked 21st of 24 Communication Equipment companies by market cap; the shares fell 18% over the past year.
- ₹51.65
- ₹52.90
- ₹50.11
- ₹49.61
- 1.9K
Health check
- ReturnsIn line
−17.5% over a year, better than 3 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthStrong
Sales +36.4% a year over 3 years.
- ProfitabilityWeak
ROCE 9.6% vs peer median 10.8%.
- Balance sheetFair
Piotroski 4 of 9.
- Red flags4 to check
Quarterly sales down 12.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹61 Cr
- Small cap
- P/E
- 11.1
- Industry 40.6
- Price to book
- 2.03
- Peers 8.15
- Dividend yield
- 0.00%
- ROE
- 10.1%
- Peers 16.6%
- ROCE
- 9.6%
- Peers 10.8%
- Debt to equity
- n/a
- Debt ₹0.00 Cr
- EPS (TTM)
- ₹4.56
- OPM (TTM)
- −15.9%
- Net margin 21.1%
- Sales growth
- −12.6%
- Latest quarter vs a year ago
- Profit growth
- +719.1%
- Latest quarter vs a year ago
- Price to sales
- 2.35
- EV/EBITDA 2.2
Strengths and risks
Strengths
- Quarterly profit up 719.1% on a year ago.
Risks to check
- Quarterly sales down 12.6% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 31% below its 52-week high.
- Interest coverage of only −273.0×.
About Punjab Communications
Punjab Communications Limited engages in the manufacturing and sale of telecommunication and IT equipment and solutions in India. It offers transmission products, such as add/drop multiplexers to managed voice and data services; power line carrier communication equipment for the transmission and reception of speech, fax, RTU data, and tele-protection signals over high voltage overhead transmission lines of electric utilities; line matching units for…
- Headquarters
- Chandigarh
- Sector
- Technology
- ISIN
- INE609A01010
- Website
- puncom.com
Price range
- Avg volume (3M)
- 2.6K
- 1-year return
- minus 17.5%
- From 52-week high
- minus 31.4%
Peers · Communication Equipment
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| STLTECHSterlite Technologies | 719.90 | minus 5.00% | 37,018 | 52.4 | 65.8 | 8.0% | 22.0% | 0.22 | −11.8% | plus 530.2% |
| HFCLHFCL | 210.66 | minus 5.00% | 32,237 | 36.8 | 42.9 | 10.8% | 21.2% | 0.34 | 1.3% | plus 188.1% |
| ITIITI | 248.85 | minus 0.58% | 23,961 | 135.2 | 350.1 | 14.4% | −4.0% | 0.40 | 16.1% | minus 22.6% |
| ASTRAMICROAstra Microwave Products | 1,557.80 | minus 0.01% | 14,791 | 78.4 | 44.6 | 20.8% | 28.6% | 0.22 | 12.6% | plus 47.1% |
| TEJASNETTejas Networks | 417.20 | minus 1.59% | 7,422 | – | – | −29.5% | −23.2% | 1.97 | 6.1% | minus 21.7% |
| AVANTELAvantel | 138.69 | minus 1.24% | 3,686 | 190.0 | 76.9 | 8.2% | 24.7% | 0.31 | 12.9% | minus 16.3% |
| PACEDIGITKPace Digitek | 158.13 | minus 1.62% | 3,413 | 9.8 | 8.5 | 16.1% | 16.3% | 0.57 | 73.8% | minus 26.6% |
| PUNJCOMMUPunjab Communications | 50.78 | plus 2.36% | 61 | 11.1 | – | 9.6% | −15.9% | – | 36.4% | minus 17.5% |
| Median of 7 peers | – | −1.59% | 14,791 | 65.4 | 55.2 | 10.8% | 21.2% | 0.34 | 12.6% | −16.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 6.7 | 8.2 | 5 | 7 | 5.8 | |
| 9 | 7.8 | 8 | 9.3 | 5 | |
| −2.3 | 0.4 | −3 | −2.3 | 0.8 | |
| −34.3% | 4.8% | −60.6% | −33.0% | 13.7% | |
| 2.7 | 2.9 | 2.2 | 2.7 | 2.1 | |
| – | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0.1 | 0.1 | 0.1 | |
| 0.3 | 3.2 | −0.9 | 0.3 | 2.9 | |
| 0.3 | 3.2 | −0.9 | 0.3 | 2.9 | |
| 0.29 | 2.69 | -0.76 | 0.25 | 2.38 |
Profit & loss
- Sales CAGR 3Y
- +36.4%
- ROE
- 10.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.6 | 15 | 17.2 | 26.8 | |
| – | +42.2% | +14.4% | +55.9% | |
| 26.3 | 24 | 26.4 | 34.1 | |
| −15.7 | −9 | −9.2 | −7.2 | |
| −148.5% | −59.7% | −53.5% | −27.0% | |
| 7.2 | 7 | 8.5 | 10.4 | |
| 0 | 0.5 | 0.2 | 0 | |
| 0.2 | 0.2 | 0.2 | 0.2 | |
| −6.9 | 12.9 | 0.7 | 0 | |
| −15.6 | 10.2 | −0.4 | 3 | |
| −15.6 | 10.2 | −0.4 | 3 | |
| -13.00 | 8.44 | -0.31 | 2.48 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12 | 12 | 12 | 12 | |
| 6.6 | 16.8 | 16.5 | 18.4 | |
| 60.3 | 53.2 | 52.3 | 58.5 | |
| 79 | 82 | 80.9 | 88.9 | |
| 3 | 2.9 | 2.8 | 3.1 | |
| 11.8 | 2 | 0 | 0 | |
| 3.4 | 23.2 | 4 | 28.8 | |
| 60.7 | 54 | 74 | 57 | |
| 79 | 82 | 80.9 | 88.9 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −23 | −1.2 | −9.4 | −6.7 | |
| 23.1 | 25.3 | −9.8 | 8.9 | |
| −0 | −4.4 | – | −0 | |
| 0.1 | 19.7 | −19.2 | 2.2 | |
| −0 | −0 | −0.2 | −0.5 | |
| −23 | −1.2 | −9.5 | −7.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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