Suyog Telematics Limited is a leading telecom infrastructure provider with expertise in telecom tower infrastructure, including high-power small cells, fiber connectivity, and eco-friendly solutions. The company operates across 26 states and union territories, and with over 25 years of experience in the telecom sector, STL has built a strong track record in executing large-scale infrastructure projects.
Incorporated in 1995, Suyog Telematics Limited is engaged primarily in the business of installing, commissioning and servicing of poles, towers and optical fibre cable (OFC) systems, catering to the telecommunication industry with operators across 12 telecom circles in India. The company is registered as Infrastructure Provider Category-I (IP-I) with the Department of Telecommunications (DoT).
The company provides comprehensive telecom infrastructure solutions including installing, commissioning and servicing poles, towers and optical fiber cable systems. It caters to a spectrum of towers, such as ground-based, roof-top, camouflage, COW (Cell on Wheels), and ground-based mast towers. It operates across 12 telecom circles in India, and partners with telecom providers to host their telecommunications infrastructure in different geographies.
Its operations include acquiring and installing environment-friendly towers or conventional roof top towers (RTT) sites. Its towers are used for both GSM and CDMA networks. They are usually 15 meters high with a withstand wind speed of 180 kilometers per hour.
The company has established itself as a reliable partner for major telecom operators. Suyog has a good presence in the Telecom industry as a TSP Vendor, with over 200 poles installed for various TSPs and 10,000 rooftop towers installed for BSNL on a job work basis. The company's services are contracted mostly by leading mobile service providers such as Bharti Airtel Ltd., Vodafone Essar Ltd., Idea Cellular Ltd., and TML.
Suyog Telematics has a market cap of ₹959 crore as of recent data. The company trades on both BSE and NSE, with the stock symbol SUYOG. The 52-week high of Suyog Telematics Ltd (SUYOG) is ₹1968.20 and the 52-week low is ₹770.10.
The stock hit a record high of Rs 1969 on 20 Dec 2024. The company has witnessed significant volatility in its stock price, reflecting the dynamic nature of the telecom infrastructure sector.
The company's financial performance has shown mixed results in recent quarters. Based on the latest available data, the company recorded Revenue: ₹193 Cr and Profit: ₹40.6 Cr with Promoter Holding: 49.7%.
For the financial year 2025, Sales rose 23.11% to ₹205.11 crore as against ₹166.61 crore during the previous year ended March 2024. However, for the full year, net profit declined 35.49% to ₹40.84 crore as against ₹63.31 crore during the previous year ended March 2024.
The quarterly performance showed challenges, with a Net loss of Suyog Telematics reported to be ₹13.50 crore in the quarter ended March 2025 as against a net profit of ₹15.72 crore during the previous quarter ended March 2024. Despite this, Sales rose 37.99% to ₹62.59 crore in the quarter ended March 2025 as against ₹45.36 crore during the previous quarter ended March 2024.
• Market Cap: ₹959 crore
• P/E Ratio: 23.6
• P/B Ratio: 3.56
• Book Value: ₹360
• Dividend Yield: 0.15%
• ROCE: 13.7%
• ROE: 11.6%
• Revenue (Latest FY): ₹193 Crore
• Profit (Latest FY): ₹40.6 Crore
• Promoter Holding: 49.7%
The company has ambitious expansion plans. Suyog Telematics Ltd has a strategic plan to achieve 10,000 tower rollouts in the next financial year, with significant business expected from major telecom operators like Vodafone, Airtel, Jio, and BSNL. The company successfully rolled out 1,800 tenancies in the financial year, contributing to an increase in PAT and EBITDA margins.
Suyog Telematics Ltd completed the acquisition of Lotus, enhancing its presence in Delhi and adding ₹15-16 crores to consolidated revenue. The company is also benefiting from government support, particularly through new ROW guidelines that streamline tower permissions and standardize charges across India.
The company faces certain operational challenges that have impacted recent performance. The company reported a net profit loss due to a ₹27 crore ESOP impact, which is a notional loss affecting financial results. There is a delay in revenue recognition, with ₹24 crores pending billing due to technical reasons, impacting the visibility of revenue growth.
On the positive side, Suyog Telematics Ltd (BOM:537259) reported an improvement in cash flow, generating a positive cash flow of ₹211 million compared to ₹14.8 million in the previous financial year.
Promoter holding has increased by 2.39% over the last quarter. The company is actively raising capital for expansion, with plans to raise ₹500 crores for CapEx in the coming year, with ₹100 crores from bank loans, ₹150 crores from internal accruals, and ₹50 crores from preferential and ESOPs.
The telecommunications infrastructure sector is experiencing growth driven by 5G rollouts and increased data consumption, positioning Suyog Telematics to benefit from these industry trends. However, investors should consider the company's current profitability challenges and the capital-intensive nature of the business when making investment decisions.
