Avantel Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Communications & Signal Processing Products: 99.3% • Health Care: 0.7%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has a healthy return on capital (ROCE) of 32.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.9%
- Latest quarter profit grew 67.2% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 23.5% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.01x)
CONS
- Valuation is stretched - P/E of 241.8 is well above its own 5-year median (47.0)
- Total debt has risen sharply - up 62.9% year on year
- Company has delivered a poor profit growth of -0.4% over past five years
- Operating margins have contracted to 18.6% from 27.4%
- Stock is trading at 10.2x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HAL | 4898.75 | 35.15 | 327616.15 | 0.92 | 1589.66 | 14.88 | 5515.17 | 14.45 | 31.99 | 27.89 |
| BEL | 405.50 | 48.23 | 296411.53 | 0.62 | 1054.53 | 8.82 | 5546.98 | 24.94 | 36.68 | 25.22 |
| BDL | 1190.50 | 83.80 | 43639.27 | 0.41 | 118.79 | 547.36 | 572.24 | 147.63 | 13.91 | 14.52 |
| DATAPATTNS | 4832.90 | 3517.81 | 27056.49 | 0.21 | 220.60 | 765.10 | 1160.30 | 1068.13 | 23.18 | 27.04 |
| ASTRAMICRO | 1677.95 | 84.27 | 15931.30 | 0.14 | 12.35 | -24.12 | 176.66 | -11.55 | 20.29 | 20.40 |
| APOLLO | 421.95 | 129.24 | 15679.64 | 0.06 | 252.16 | 1325.84 | 2512.93 | 1781.17 | 14.52 | 21.38 |
| ZENTEC | 1722.85 | 86.35 | 15556.12 | 0.06 | 31.85 | -39.99 | 141.64 | -10.48 | 16.83 | 27.13 |
| AEQUS | 226.05 | 304.43 | 15160.40 | 0.00 | -532.28 | -6067.26 | 3955.45 | 1486.69 | 1.50 | 4.47 |
| PARAS | 1433.00 | 122.27 | 11548.16 | 0.07 | 20.74 | 45.34 | 127.91 | 37.26 | 18.68 | 24.95 |
| UNIMECH | 1609.30 | 113.74 | 8191.66 | 0.00 | 27.86 | 45.70 | 107.62 | 70.85 | 12.10 | 36.35 |
| AXISCADES | 1831.10 | 214.34 | 7788.31 | 0.00 | -14.76 | -170.76 | 183.35 | -24.77 | 14.56 | 4.73 |
| AVANTEL | 156.35 | 241.82 | 4154.39 | 0.13 | 5.40 | 67.18 | 70.42 | 35.66 | 9.60 | 24.75 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 69 | 54 | 59 | 42 | 52 | 77 | 71 | 49 | 52 | 55 | 52 | 64 | 70 | |
| 55 | 29 | 35 | 24 | 38 | 43 | 39 | 38 | 41 | 44 | 39 | 50 | 62 | |
| Operating Profit | 14 | 25 | 24 | 18 | 14 | 35 | 32 | 12 | 10 | 11 | 13 | 14 | 9 |
| OPM % | 20.67% | 45.92% | 41.21% | 43.46% | 27.36% | 44.81% | 45.35% | 23.55% | 20.13% | 20.43% | 24.25% | 21.29% | 12.18% |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 1 | 0 | |
| Interest | 1 | 2 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 6 | 7 |
| Profit before Tax | 11 | 22 | 22 | 16 | 11 | 32 | 28 | 8 | 5 | 6 | 6 | 7 | 9 |
| Tax % | 29.74% | 27.61% | 26.11% | 23.34% | 32.66% | 27.30% | 29.52% | 28.39% | 39.25% | 31.40% | 52.92% | 34.70% | 37.99% |
| Net Profit | 0 | 0 | 0 | 0 | 7 | 23 | 20 | 6 | 3 | 4 | 3 | 5 | 5 |
| 0.33 | 0.66 | 0.67 | 0.50 | 0.32 | 0.99 | 0.87 | 0.26 | 0.32 | 0.15 | 0.10 | 0.17 | 0.20 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 78 | 105 | 154 | 224 | 249 | 223 | 241 | |
| 56 | 78 | 108 | 143 | 157 | 175 | 195 | |
| Operating Profit | 22 | 27 | 47 | 82 | 93 | 48 | 46 |
| OPM % | 28.54% | 25.38% | 30.31% | 36.46% | 37.13% | 21.48% | 19.07% |
| 1 | 1 | 0 | 1 | 2 | 2 | 3 | |
| Interest | 2 | 2 | 5 | 4 | 3 | 6 | 7 |
| Depreciation | 3 | 4 | 6 | 7 | 12 | 20 | 23 |
| Profit before Tax | 19 | 22 | 37 | 72 | 79 | 25 | 28 |
| Tax % | 17.13% | 19.99% | 26.81% | 26.54% | 28.95% | 39.14% | 38.77% |
| Net Profit | 15 | 18 | 27 | 53 | 56 | 15 | 17 |
| EPS | 37.82 | 44.34 | 16.55 | 2.15 | 2.29 | 0.56 | — |
| Dividend Payout % | 10.55% | 9.06% | 6.10% | 9.32% | 8.73% | 35.80% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 23%
- 3 Years:
- 13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -1%
- 3 Years:
- -18%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -7%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 25%
- 3 Years:
- 25%
- Last Year:
- 5%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 16 | 49 | 49 | 53 |
| 62 | 78 | 91 | 109 | 175 | 275 | |
| 3 | 16 | 30 | 18 | 26 | 34 | |
| Trade Payables | 0 | 1 | 3 | 6 | 4 | 2 |
| 17 | 10 | 9 | 34 | 35 | 46 | |
| Total Liabilities | 87 | 109 | 149 | 216 | 290 | 410 |
| 16 | 27 | 31 | 49 | 115 | 181 | |
| Capital Work in Progress | 1 | 7 | 9 | 18 | 5 | 6 |
| 3 | 17 | 45 | 46 | 60 | 93 | |
| 0 | 0 | 0 | 64 | 71 | 72 | |
| Cash & Bank | 43 | 1 | 1 | 13 | 8 | 11 |
| 25 | 57 | 64 | 26 | 31 | 47 | |
| Total Assets | 87 | 109 | 149 | 216 | 290 | 410 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 48 | -28 | 10 | 65 | 50 | 10 | |
| Cash from Investing | -42 | 23 | -10 | -42 | -57 | -93 |
| Cash from Financing | -3 | 9 | 8 | -23 | 8 | 86 |
| 0 | -0 | -0 | 1 | 1 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-12 - Avantel Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-08-29 - Avantel Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-08-17 - Avantel Limited has informed the Exchange about General Updates
2026-08-17 - Avantel Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-08-17 - Avantel Limited has informed the Exchange regarding Proceedings of Postal Ballot
2026-08-05 - Avantel Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-04 - Avantel Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-07-18 - Avantel Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-07-17 - Avantel Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for AVANTEL
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Avantel Ltd.
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