Kore Digital Limited, originally incorporated as Kore Digital Private Limited on February 13, 2009, in Mumbai, subsequently changed its name on July 29, 2022. The company operates as a growing passive telecommunication infrastructure provider primarily in Maharashtra, specializing in the installation and commissioning of Poles, Towers, and Optical Fibre Cable (OFC) Systems.
Holding an Infrastructure Provider-I License from the Department of Telecommunications, Kore Digital provides high-end communication solutions to corporate entities, telecom network operators, telecom vendors, broadband service operators, and Internet Service Providers (ISPs). The company has a significant presence in and around the Mumbai metropolitan regions, having laid approximately 2000 Kms of fiber cable for major operators like Bharti Airtel, Vodafone Idea, and Reliance JIO. It has also collaborated with telecom vendors such as Ductrove Innovations Pvt Ltd, Sterlite Technologies Limited, and Usha Martin Ltd, and developed a fiber network across Mumbai cities including Navi Mumbai, Thane, Bhivandi, Kalyan, Panvel, and Pune.
Kore Digital's business model revolves around delivering critical passive infrastructure for telecommunications. Passive infrastructure includes essential physical components like towers for wireless services and Optical Fibre Cables (OFCs), which are crucial for hosting and operating active infrastructure used to transmit signals and transport voice/data traffic.
The company's services encompass project management for duct and OFC laying, construction of basic transmission and telecom utilities, dark fiber leasing, maintenance of ducts and OFCs, and providing turnkey services for optical fibre projects. Kore Digital manages its own network infrastructure and also undertakes project-based development for various clients across the telecommunications value chain, facilitating efficient service delivery for telecom operators across Maharashtra.
Kore Digital Limited holds a Market Capitalization of ₹367.81 Crore as of July 11, 2025. The company is classified as a Small Cap entity. It is listed on the NSE under the symbol KDL, with BSE Code 78869 and ISIN INE0O4R01018. The company made its market debut through an Initial Public Offering (IPO) in June 2023, raising ₹18 Crore via a fresh issue of 1,00,000 equity shares. Its listing status was updated to 'Yes' after its NSE EMERGE SME listing.
- Net Profit: Declined 16.28% to ₹9.62 crore, compared to ₹11.49 crore in the previous fiscal year (FY24).
- Sales: Rose 27.50% to ₹131.98 crore, compared to ₹103.51 crore in the previous fiscal year (FY24).
- Net Profit/Loss: Reported a net loss of ₹1.00 crore, compared to a net profit of ₹4.49 crore in the corresponding quarter of the previous year (Q4 FY24).
- Sales: Declined 70.53% to ₹10.18 crore, compared to ₹34.54 crore in the previous quarter (Q4 FY24).
- Revenue (TTM): ₹327.74 Crore
- Annual Revenue Growth: 26%
- Pre-tax Margin: 13%
- Return on Equity (ROE): 29%
- Debt to Equity Ratio: 2%
- Latest PE Ratio: 11.60
- Latest PB Ratio: 0.29
- 52-Week High: ₹952.04
- 52-Week Low: ₹262.10
- Past 6 Months Performance: Decreased by 48.61%
- Past 1 Year Performance: Decreased by 39.6%
The company's stock has experienced significant volatility since its listing, which is characteristic of small-cap stocks operating in the dynamic telecom infrastructure sector and reflects broader market conditions.
As of June 25, 2025, promoter Ravindra Doshi acquired 8,250 shares, increasing the promoter holding to 63.35%. On June 20, 2025, the exchange sought clarification from Kore Digital Limited regarding Regulation 33 of the SEBI (LODR) Regulations, 2015, for the quarter ended March 31, 2025. The company maintains a robust balance sheet with minimal debt. However, it faces working capital challenges due to high debtors, with a debtor days metric of 173 days.
The telecommunications infrastructure sector in India is undergoing substantial growth, propelled by factors such as increasing data consumption, the nationwide rollout of 5G networks, and widespread digital transformation initiatives. As a focused passive infrastructure provider in Maharashtra, Kore Digital is strategically positioned to leverage these macro trends by serving established telecom operators and emerging service providers in one of India's most economically vital states, contributing to the nation's evolving digital landscape.
