Tikona Communication (TIKONA) had a P/E of 33.4× on 6 Nov 2026, above the industry P/E of 18.5×, and the shares are 22% below their 52-week high. It earns ROCE of 56%. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹6.24 Cr. It is a small-cap company with a market cap of ₹115 Cr, ranked 15th of 20 Telecom Services companies by market cap; the shares rose 277% over the past year.
- ₹37.71
- ₹38.94
- ₹37.71
- ₹38.47
- 95.4K
Health check
- ReturnsAhead
+276.8% over a year, better than 7 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthStrong
Sales +370.1% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags3 to check
Negative net worth: liabilities exceed assets.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹115 Cr
- Small cap
- P/E
- 33.4
- Industry 18.5
- Price to book
- −43.60
- Peers 3.27
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 20.2%
- ROCE
- 55.5%
- Peers 18.6%
- Debt to equity
- n/a
- Debt ₹6.24 Cr
- EPS (TTM)
- ₹1.13
- Face value ₹4
- OPM (TTM)
- 9.1%
- Net margin 8.3%
- Sales growth
- n/a
- Year-ago quarter not reported
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 2.75
Strengths and risks
Strengths
- Return on capital employed of 55.5%.
Risks to check
- Negative net worth: liabilities exceed assets.
- P/E of 33.4 against an industry P/E of 18.5.
- Interest coverage of only 1.3×.
About Tikona Communication
Tikona Communication Limited provides telecommunications and digital infrastructure services across India. The company offers infrastructure solutions, such as tower infrastructure, FTTH infrastructure, smart systems, and enterprise solutions. It operates fiber optic network infrastructure and provides fiber leasing services, including route monitoring, preventive maintenance, fault restoration, and operations and maintenance. It provides smart systems…
- Headquarters
- Noida
- Employees
- 2
- Sector
- Communication Services
- ISIN
- INE534A01028
- Website
- tikonacomm.in
Price range
- Avg volume (3M)
- 28.4K
- 1-year return
- plus 276.8%
- From 52-week high
- minus 21.9%
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% |
| TIKONATikona Communication | 37.71 | minus 1.98% | 115 | 33.4 | 166.1 | – | 9.1% | – | 370.1% | plus 276.8% |
| 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 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| – | – | 10.5 | 19.6 | 11.5 | |
| – | – | 9.4 | 17.4 | 10.4 | |
| −0.2 | −0.1 | 1.1 | 2.2 | 1 | |
| – | – | 10.2% | 11.3% | 9.1% | |
| 0 | 0 | 0 | 0 | 0 | |
| 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | |
| −0.3 | −0.2 | 0.9 | 2.1 | 0.9 | |
| – | – | – | – | 22.8% | |
| −0.3 | −0.2 | 0.9 | 2.1 | 0.7 | |
| -0.11 | -0.08 | 0.29 | 0.69 | 0.23 |
Profit & loss
- Sales CAGR 3Y
- +370.1%
| ₹ Cr | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| – | 0.1 | – | – | 10.5 | |
| – | 0.4 | – | – | 9.8 | |
| – | −0.3 | −0.2 | −0.3 | 0.7 | |
| – | −283.1% | – | – | 7.1% | |
| – | −0 | 0 | 0 | 0 | |
| – | 0.2 | 0.3 | 0.4 | 0.6 | |
| 0 | – | – | – | – | |
| −0 | −0.6 | −0.1 | – | – | |
| – | −1.1 | −0.6 | −0.7 | 0.2 | |
| – | −1.1 | −0.6 | −0.7 | 0.2 | |
| – | -0.36 | -0.19 | -0.22 | 0.06 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.2 | 12.2 | 12.2 | 12.2 | |
| −16.6 | −17.1 | −17.8 | −17.6 | |
| 4.4 | 4.9 | 5.6 | 6.8 | |
| 0.1 | 0.1 | 0.1 | 12 | |
| 0 | 0 | 0 | 13.4 | |
| 0 | – | – | – | |
| 0 | 0 | 0 | 0.1 | |
| 0 | 0 | 0 | 13.3 | |
| 0 | 0 | 0 | 13.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −4.4 | −0.5 | −0.7 | −0.5 | |
| 0.1 | – | – | – | |
| 4.3 | 0.5 | 0.7 | 0.6 | |
| −0 | 0 | −0 | 0.1 | |
| −4.4 | −0.5 | −0.7 | −0.5 |
Shareholding pattern
- Promoters70.18%
- Public29.82%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 70.18% | 29.82% | 0.00 | |
| 30 Jun 2026 | 70.18% | 29.82% | 0.00 | |
| 31 Mar 2026 | 70.18% | 29.82% | 0.00 | |
| 31 Dec 2025 | 70.18% | 29.82% | 0.00 | |
| 30 Sep 2025 | 70.18% | 29.82% | – |
Major shareholders
Filings & events
News
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