NELCO Ltd

NELCO

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Market Cap

₹ 1,726 Cr

P/E

402.31

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

NELCO Limited is engaged in providing end-to-end networking solutions and satellite communication services, including VSAT bandwidth services.

It operates as a subsidiary of The Tata Power Company Limited and has historical collaborations with notable entities like Serck Control, UK, and Teleglobe, Canada.

The company has a legacy in introducing advanced telecommunication solutions in India, such as telebanking and LAN interconnectivity products.

NELCO has expanded its operational scope by acquiring new businesses and enhancing its satellite communication infrastructure, such as the Extended-C VSAT hub.

Recently, NELCO consolidated its offerings by merging Tatanet Services Limited into its core operations, approved by the Department of Telecommunications.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Service Provider

Market Cap

1,726 Cr

Volatility

High Risk

P/E Ratio

402.3

Industry P/E

37.9

PEG Ratio

—

P/B Ratio

13.4

52W High

1,500.00

52W Low

707.00

Sales CAGR

-4.82%

12.83%

39.93%

10Y

4.94%

Profit CAGR

-59.74%

-1.36%

3.73%

10Y

—

ROE

TTM

3.34%

21.10%

19.56%

10Y

21.60%

ROCE

TTM

9.18%

36.32%

29.91%

10Y

32.58%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HATHWAY	13.00	2,291 Cr	23.11	0.52	0.00	2.20	2.86	1.80
MTNL	36.14	2,277 Cr	—	0.00	0.00	12.39	-11.49	-37.36
NELCO	759.90	1,726 Cr	402.31	13.43	0.13	3.34	9.18	1.39
ONMOBILE	57.92	616 Cr	52.18	0.94	0.00	1.80	3.87	0.85
RCOM	1.20	332 Cr	—	0.00	0.00	0.22	0.33	-27.88
GTL	8.20	129 Cr	—	0.00	0.00	0.90	0.07	-36.43
STML	98.95	96 Cr	—	3.13	0.00	-2.50	-9.13	-5.56

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	79	77	83	82	74	83	81	68	75	74
Expenses	64	63	67	67	62	72	69	61	67	67
Operating Profit	14	14	16	15	12	11	12	6.63	7.74	7.47
OPM %	18.32	18.15	19.61	18.04	16.63	13.13	15.09	9.82	10.35	10.05
Other Income	0.38	0.44	0.84	0.88	0.16	1.19	1.57	2.45	0.76	1.31
Interest	1.54	1.68	1.91	1.44	1.08	1.41	1.51	1.52	1.18	1.52
Depreciation	5.22	5.12	5.85	5.95	5.29	5.18	5.26	6.43	4.92	5.09
Profit Before Tax	8.06	7.55	9.40	8.21	6.11	5.44	6.98	1.13	2.40	2.17
Tax %	28.91	24.64	37.66	25.70	25.37	24.63	29.08	461.06	25.00	25.35
Net Profit	5.73	5.69	5.86	6.10	4.56	4.10	4.95	-4.08	1.80	1.62
EPS in Rs	2.51	2.49	2.69	2.67	2.00	1.80	2.17	-1.79	0.79	0.71

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	144	150	191	220	226	260	313	320	305	306
Expenses	125	124	155	170	181	210	253	261	263	268
Operating Profit	18	25	36	50	45	50	61	59	42	37
OPM %	12.84	16.80	18.84	22.63	19.84	19.18	19.39	18.54	13.77	12.24
Other Income	5.00	5.51	4.37	3.64	2.84	4.74	2.57	2.83	5.37	5.97
Interest	8.50	5.93	7.38	13	9.53	6.84	7.73	6.57	5.52	5.62
Depreciation	8.02	9.49	13	20	22	25	28	22	22	22
Profit Before Tax	6.93	15	20	20	16	23	28	34	20	16
Tax %	9.38	20.43	-11.34	29.02	22.17	30.54	28.65	29.36	51.53	57.55
Net Profit	6.28	12	22	14	12	16	20	24	9.53	6.77
EPS in Rs	2.79	5.30	9.76	6.30	5.41	7.04	8.70	10.36	4.18	1.88
Dividend Payout %	0.00	0.00	15.35	19.05	22.14	25.53	22.99	21.22	23.92	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	23	23	23	23	23	23	23	23	23	23
Reserves	-13	-0.95	11	33	43	53	66	82	101	105
Borrowings	83	54	46	68	106	90	81	63	57	53
Other Liabilities	57	55	82	114	108	72	93	95	102	107
Total Liabilities	150	131	162	237	280	238	263	262	282	287
Fixed Assets	26	36	51	87	117	108	110	95	87	78
CWIP	6.11	2.85	4.68	17	3.39	4.06	2.60	1.48	9.85	8.70
Investments	8.74	5.27	5.76	0.16	0.16	0.16	0.16	0.22	3.73	3.92
Other Assets	109	87	101	134	160	126	150	165	181	197
Total Assets	150	131	162	237	280	238	263	262	282	287

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	5.89	38	32	21	33	54	51	58	45	20
Cash from Investing Activity	-9.70	-2.51	-14	-45	-40	-7.56	-18	-25	-19	-17
Cash from Financing Activity	4.15	-40	-12	25	4.48	-47	-19	-33	-20	-11
Net Cash Flow	0.34	-4.70	5.70	1.56	-2.41	-0.63	14	0.51	5.63	-7.94

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%
FIIs	6.09%	4.40%	4.33%	4.43%	4.49%	4.53%	4.79%	4.63%	5.40%	4.82%	3.80%	4.55%
DIIs	0.31%	0.31%	0.31%	0.35%	0.35%	0.32%	0.32%	0.31%	0.39%	0.39%	1.21%	0.42%
Public	43.51%	45.20%	45.27%	45.13%	45.07%	45.07%	44.81%	44.97%	44.12%	44.71%	44.91%	44.94%
Total Shareholders	62,613	65,567	67,242	70,534	69,077	72,703	72,952	66,823	67,645	0	70,299	72,451

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Aug 22, 2024	Hrti private limited	Bulk	Buy	1,140.59	14.64 Cr	1,28,384	0.56
Aug 22, 2024	Graviton research capital llp	Bulk	Buy	1,141.28	22.89 Cr	2,00,558	0.87
Aug 22, 2024	Hrti private limited	Bulk	Sell	1,142.53	14.84 Cr	1,29,886	0.56
Aug 22, 2024	Graviton research capital llp	Bulk	Sell	1,141.02	22.80 Cr	1,99,788	0.87
Aug 21, 2024	Graviton research capital llp	Bulk	Buy	1,042.27	16.14 Cr	1,54,898	0.67
Aug 21, 2024	Graviton research capital llp	Bulk	Sell	1,043.03	16.24 Cr	1,55,668	0.68
Jul 04, 2024	Qe securities llp	Bulk	Buy	862.19	11.34 Cr	1,31,579	0.57
Jul 04, 2024	Qe securities llp	Bulk	Sell	860.35	11.52 Cr	1,33,936	0.58
Jun 06, 2023	Qe securities	Bulk	Buy	714.46	8.49 Cr	1,18,888	0.52
Jun 06, 2023	Qe securities	Bulk	Sell	713.65	8.67 Cr	1,21,437	0.53

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Oscillators

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Bearish

Neutral

Bullish

Overall

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Neutral

Bullish

Moving Averages

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Financial Statements

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Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	79	77	83	82	74	83	81	68	75	74
Expenses	64	63	67	67	62	72	69	61	67	67
Operating Profit	14	14	16	15	12	11	12	6.63	7.74	7.47
OPM %	18.32	18.15	19.61	18.04	16.63	13.13	15.09	9.82	10.35	10.05
Other Income	0.38	0.44	0.84	0.88	0.16	1.19	1.57	2.45	0.76	1.31
Interest	1.54	1.68	1.91	1.44	1.08	1.41	1.51	1.52	1.18	1.52
Depreciation	5.22	5.12	5.85	5.95	5.29	5.18	5.26	6.43	4.92	5.09
Profit Before Tax	8.06	7.55	9.40	8.21	6.11	5.44	6.98	1.13	2.40	2.17
Tax %	28.91	24.64	37.66	25.70	25.37	24.63	29.08	461.06	25.00	25.35
Net Profit	5.73	5.69	5.86	6.10	4.56	4.10	4.95	-4.08	1.80	1.62
EPS in Rs	2.51	2.49	2.69	2.67	2.00	1.80	2.17	-1.79	0.79	0.71

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	144	150	191	220	226	260	313	320	305	306
Expenses	125	124	155	170	181	210	253	261	263	268
Operating Profit	18	25	36	50	45	50	61	59	42	37
OPM %	12.84	16.80	18.84	22.63	19.84	19.18	19.39	18.54	13.77	12.24
Other Income	5.00	5.51	4.37	3.64	2.84	4.74	2.57	2.83	5.37	5.97
Interest	8.50	5.93	7.38	13	9.53	6.84	7.73	6.57	5.52	5.62
Depreciation	8.02	9.49	13	20	22	25	28	22	22	22
Profit Before Tax	6.93	15	20	20	16	23	28	34	20	16
Tax %	9.38	20.43	-11.34	29.02	22.17	30.54	28.65	29.36	51.53	57.55
Net Profit	6.28	12	22	14	12	16	20	24	9.53	6.77
EPS in Rs	2.79	5.30	9.76	6.30	5.41	7.04	8.70	10.36	4.18	1.88
Dividend Payout %	0.00	0.00	15.35	19.05	22.14	25.53	22.99	21.22	23.92	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	23	23	23	23	23	23	23	23	23	23
Reserves	-13	-0.95	11	33	43	53	66	82	101	105
Borrowings	83	54	46	68	106	90	81	63	57	53
Other Liabilities	57	55	82	114	108	72	93	95	102	107
Total Liabilities	150	131	162	237	280	238	263	262	282	287
Fixed Assets	26	36	51	87	117	108	110	95	87	78
CWIP	6.11	2.85	4.68	17	3.39	4.06	2.60	1.48	9.85	8.70
Investments	8.74	5.27	5.76	0.16	0.16	0.16	0.16	0.22	3.73	3.92
Other Assets	109	87	101	134	160	126	150	165	181	197
Total Assets	150	131	162	237	280	238	263	262	282	287

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	5.89	38	32	21	33	54	51	58	45	20
Cash from Investing Activity	-9.70	-2.51	-14	-45	-40	-7.56	-18	-25	-19	-17
Cash from Financing Activity	4.15	-40	-12	25	4.48	-47	-19	-33	-20	-11
Net Cash Flow	0.34	-4.70	5.70	1.56	-2.41	-0.63	14	0.51	5.63	-7.94

Overview

Detailed Summary

NELCO Limited is engaged in providing end-to-end networking solutions and satellite communication services, including VSAT bandwidth services.

It operates as a subsidiary of The Tata Power Company Limited and has historical collaborations with notable entities like Serck Control, UK, and Teleglobe, Canada.

The company has a legacy in introducing advanced telecommunication solutions in India, such as telebanking and LAN interconnectivity products.

NELCO has expanded its operational scope by acquiring new businesses and enhancing its satellite communication infrastructure, such as the Extended-C VSAT hub.

Recently, NELCO consolidated its offerings by merging Tatanet Services Limited into its core operations, approved by the Department of Telecommunications.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Service Provider

Market Cap

1,726 Cr

Volatility

High Risk

P/E Ratio

402.3

Industry P/E

37.9

PEG Ratio

—

P/B Ratio

13.4

52W High

1,500.00

52W Low

707.00

Sales CAGR

-4.82%

12.83%

39.93%

10Y

4.94%

Profit CAGR

-59.74%

-1.36%

3.73%

10Y

—

ROE

TTM

3.34%

21.10%

19.56%

10Y

21.60%

ROCE

TTM

9.18%

36.32%

29.91%

10Y

32.58%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HATHWAY	13.00	2,291 Cr	23.11	0.52	0.00	2.20	2.86	1.80
MTNL	36.14	2,277 Cr	—	0.00	0.00	12.39	-11.49	-37.36
NELCO	759.90	1,726 Cr	402.31	13.43	0.13	3.34	9.18	1.39
ONMOBILE	57.92	616 Cr	52.18	0.94	0.00	1.80	3.87	0.85
RCOM	1.20	332 Cr	—	0.00	0.00	0.22	0.33	-27.88
GTL	8.20	129 Cr	—	0.00	0.00	0.90	0.07	-36.43
STML	98.95	96 Cr	—	3.13	0.00	-2.50	-9.13	-5.56

Nelco Ltd

NELCO Ltd

NELCO

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Overview

Sector

Industry

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P/E Ratio

Industry P/E

PEG Ratio

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Price Chart Comparison

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

Actions

Announcements

Documents

AI Mode

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Technicals

Forecasts

Oscillators

Bullish

Overall

Bearish

Moving Averages

Bearish

Overall

Bearish

Documents

Financial Statements

AI Powered Summary

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Projection

NELCO Ltd

NELCO

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Shareholdings

Shareholding History

Market Transactions

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

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Peers

Price Chart Comparison

Announcements

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