As of 6 Nov 2026, Suyog Telematics trades at 10.2× trailing earnings, below the industry P/E of 18.5×, and the shares are 46% below their 52-week high. Sales and net profit grew 16% and 11% a year over 3 years, with ROCE of 13% and ROE of 13%. Debt is 0.77× equity, and its dividend yield is 0.2%. It is a small-cap company with a market cap of ₹588 Cr, ranked 11th of 20 Telecom Services companies by market cap; the shares fell 31% over the past year.
- ₹512.05
- ₹512.95
- ₹496.20
- ₹511.50
- 5.5K
Health check
- ReturnsBehind
−30.6% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 10.2 vs industry 18.5.
- GrowthSteady
Sales +15.6%, profit +10.8% a year over 3 years.
- ProfitabilityWeak
ROCE 12.9% vs peer median 18.6%.
- Balance sheetFair
Debt 0.77× equity, interest covered 4.6×.
- Red flags2 to check
Quarterly profit down 16.3% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹588 Cr
- Small cap
- P/E
- 10.2
- Industry 18.5
- Price to book
- 1.16
- Peers 3.27
- Dividend yield
- 0.20%
- ROE
- 12.5%
- Peers 20.2%
- ROCE
- 12.9%
- Peers 18.6%
- Debt to equity
- 0.77
- Debt ₹391 Cr
- EPS (TTM)
- ₹49.35
- Face value ₹10
- OPM (TTM)
- 69.3%
- Net margin 25.7%
- Sales growth
- +6.1%
- Latest quarter vs a year ago
- Profit growth
- −16.3%
- Latest quarter vs a year ago
- Price to sales
- 2.56
- EV/EBITDA 7.4
Strengths and risks
Strengths
- Net margin of 25.7%.
- P/E of 10.2 against an industry P/E of 18.5.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 16.3% on a year ago.
- 46% below its 52-week high.
About Suyog Telematics
Suyog Telematics Limited provides passive telecommunication infrastructure services in India. The company offers infrastructure solutions, including ground-based towers, rooftop towers, COW towers, GBM towers, camouflage towers, telecom poles, high-power small cells, optical fiber network, government site infrastructure, CCTV pole sites, and power infrastructure. It also provides telecommunication cables and panels, diesel generators, earth strips,…
- Headquarters
- Mumbai
- Employees
- 409
- Sector
- Communication Services
- ISIN
- INE442P01014
- Website
- suyogtelematics.co.in
Price range
- Avg volume (3M)
- 34.7K
- 1-year return
- minus 30.6%
- From 52-week high
- minus 45.5%
Peers · Telecom Services
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHARTIARTLBharti Airtel | 2,107.20 | plus 2.45% | 13,15,371 | 41.5 | 12.1 | 16.7% | 57.1% | 1.00 | 14.9% | minus 2.7% |
| IDEAVodafone Idea | 12.76 | minus 1.01% | 1,38,246 | 3.7 | 17.1 | 36.9% | 42.7% | – | 2.1% | plus 37.0% |
| INDUSTOWERIndus Towers | 383.10 | minus 0.03% | 1,01,061 | 14.2 | 6.4 | 18.4% | 54.6% | 0.56 | 4.6% | minus 2.4% |
| BHARTIHEXABharti Hexacom | 1,664.40 | minus 2.01% | 83,220 | 42.3 | 17.3 | 21.1% | 52.9% | 0.86 | 12.4% | minus 9.3% |
| TATACOMMTata Communications | 1,704.80 | minus 0.52% | 48,601 | 44.1 | 12.3 | 15.3% | 19.9% | 3.71 | 11.6% | minus 10.1% |
| TTMLTata Teleservices (Maharashtra) | 39.77 | plus 12.57% | 7,775 | 26.0 | 43.1 | – | 55.0% | – | 1.5% | minus 36.3% |
| RAILTELRailtel Corporation Of India | 241.05 | minus 0.16% | 7,736 | 22.8 | 11.0 | 18.7% | 14.6% | 0.03 | 29.8% | minus 33.7% |
| SUYOGSuyog Telematics | 501.70 | minus 1.92% | 588 | 10.2 | 6.0 | – | 69.3% | 0.77 | 15.6% | minus 30.6% |
| Median of 7 peers | – | −0.16% | 83,220 | 26.0 | 12.3 | 18.6% | 52.9% | 0.86 | 11.6% | −9.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 66.8 | 55.4 | 55.9 | 56 | 71 | |
| 25.7 | 13.7 | 16.3 | 14.2 | 28.9 | |
| 41.1 | 41.7 | 39.5 | 41.8 | 42.1 | |
| 61.5% | 75.2% | 70.8% | 74.6% | 59.3% | |
| 1.8 | 1.5 | 1.4 | 1.1 | 2.2 | |
| 6.1 | 5.6 | 5.8 | 6.8 | 7.5 | |
| 15.1 | 15.7 | 15.6 | 16 | 17.3 | |
| 21.7 | 21.9 | 19.5 | 20.1 | 19.5 | |
| 20.3% | 24.2% | 25.0% | 27.9% | 25.7% | |
| 17.3 | 16.6 | 14.6 | 14.5 | 14.5 | |
| 14.65 | 13.60 | 12.05 | 11.84 | 11.86 |
Profit & loss
- Sales CAGR 3Y
- +15.6%
- Profit CAGR 3Y
- +10.8%
- EPS CAGR 3Y
- +5.9%
- ROE
- 12.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 144 | 167 | 193 | 222 | |
| – | +16.0% | +15.6% | +15.2% | |
| 50.8 | 49.3 | 82.4 | 57.7 | |
| 92.8 | 117 | 110 | 164 | |
| 64.6% | 70.4% | 57.2% | 74.0% | |
| 8.4 | 7.2 | 8.6 | 4.4 | |
| 15.8 | 19 | 16.2 | 22.9 | |
| 26.4 | 34.1 | 46.5 | 62.4 | |
| 59 | 71.4 | 56 | 83.3 | |
| 21.5% | 11.3% | 27.6% | 24.3% | |
| 46.3 | 63.3 | 40.6 | 63.1 | |
| – | +36.7% | minus 35.9% | +55.5% | |
| 44.17 | 59.83 | 31.61 | 52.40 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.5 | 10.7 | 11.1 | 11.7 | |
| 224 | 288 | 389 | 478 | |
| 125 | 150 | 213 | 371 | |
| 121 | 51.3 | 70.8 | 81.8 | |
| 480 | 500 | 684 | 943 | |
| 340 | 371 | 463 | 660 | |
| 2.8 | 7.1 | 46.2 | 87.6 | |
| 0.8 | 0 | 1.3 | 0.1 | |
| 2.2 | 3.7 | 37.3 | 17.6 | |
| 134 | 119 | 136 | 177 | |
| 480 | 500 | 684 | 943 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 67 | 72 | 78.5 | 65.7 | |
| −108 | −63.3 | −141 | −112 | |
| 39.9 | −7.2 | 96 | 26.5 | |
| −1.1 | 1.5 | 33.2 | −19.7 | |
| −101 | −64 | −138 | −95 | |
| −33.8 | 8 | −59.7 | −29.3 | |
| −1 | −0.5 | −1.4 | −2 |
Shareholding pattern
- Promoters51.64%
- Public48.36%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 51.64% | 48.36% | 0.00 | |
| 30 Jun 2026 | 51.64% | 48.36% | minus 0.38 | |
| 31 Mar 2026 | 52.02% | 47.98% | 0.00 | |
| 31 Dec 2025 | 52.02% | 47.98% | minus 0.02 | |
| 10 Oct 2025 | 52.04% | 47.96% | – |
Major shareholders
Filings & events
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