| Revenue growth | 18% growth in FY26; realization improved to ₹31,000 per tower. |
|---|---|
| Margins | EBITDA margins expanded due to Ind AS 116 accounting for Monorail contract. |
| Order book | Awaiting bulk order from Vodafone by June-end 2026. |
| Demand visibility | Strong visibility from Vodafone's 50k-70k tower expansion plan over 18 months. |
| Management confidence | High confidence in Vodafone rollout; demand for 5,000 sites confirmed. |
Growth
FY26 revenue grew 18% YoY; realization per tower increased from ₹29,000 to ₹31,000. Tower count reached 6,008 with 7,318 tenancies.
Outlook
Guided for 5,000 new Vodafone tenancies in FY27 requiring ₹600cr capex (50% debt-funded). Targeting 12,000-13,000 exit tenancies for FY27.
Risks
BSNL rollout delayed by Tejas network equipment issues; reliance on Vodafone's bulk order timeline for FY27 growth.
Last quarter's promises, checked
Delivered
- Guided 30-32% PAT margin → delivered 30% (= BEAT)
- Guided 68-70% EBITDA margin → delivered 74% (= BEAT)
- Guided realization per tower ₹31k-32k → delivered ₹31k (= BEAT)
Partly delivered
- Guided 1,800 unbilled BSNL sites to be integrated → reduced to 558 sites (= PARTIAL)
Missed
- Guided ₹240cr revenue for FY26 → delivered ₹221cr (= MISS)
- Guided 9,000 tenancies for FY26 → delivered 7,318 (= MISS)
Earnings Call filed with BSE, NSE: SUYOG. Summary written with AI assistance from the document.
Suyog Telematics Ltd: key numbers
- Share price
- ₹650.40
- Market cap
- ₹762.1 Cr
- Revenue (annual)
- ₹221.8 Cr
- Net profit (annual)
- ₹63.07 Cr
- P/E (TTM)
- 12.7×Sector 33.0×
- Promoter holding
- 51.64%-0.38% QoQ
- FII holding
- 0.67%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Suyog Telematics Ltd
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Suyog Telematics Annual Report
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- From
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Suyog Telematics Earnings Call Transcript: Key Takeaways
Suyog Telematics reports a 6.1% YoY revenue increase, driven by new orders from Vodafone Idea, though margins show adjustment due to accounting policy changes for electricity reimbursements.
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