Punjab Communications Ltd

PUNJCOMMU

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Market Cap

₹ 74 Cr

P/E

15.11

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

LOW RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Punjab Communications (PCL) is engaged in the manufacturing and development of communication equipment such as multiplexers and digital radios primarily for sectors like railways, defense, and telecommunications.

The company has historically experienced fluctuations in its turnover due to industry shifts from narrowband to broadband and wireless communication technologies.

PCL has established strategic partnerships with global companies such as Huawei and ECI Telecom to expand its product offerings, especially in optical and SDH products.

The company is mainly focused on the Indian market, with Railtel being a significant client, planning substantial OFC cable deployments.

PCL is positioning itself to leverage opportunities in the telecommunications sector by upgrading its product lines to meet new technological demands.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Equipment - Medium / Small

Market Cap

74 Cr

Volatility

Low Risk

P/E Ratio

15.1

Industry P/E

56.7

PEG Ratio

0.2

P/B Ratio

2.3

52W High

74.01

52W Low

40.80

Sales CAGR

-78.83%

16.96%

-9.01%

10Y

-2.60%

Profit CAGR

62.36%

—

10Y

—

ROE

TTM

15.34%

-7.70%

-19.19%

10Y

-12.52%

ROCE

TTM

15.25%

-6.20%

-16.85%

10Y

-11.53%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
KRONECOMM	1203.40	554 Cr	30.65	7.19	2.49	23.45	31.03	17.25
PRECISIO	194.95	270 Cr	374.90	21.61	0.00	5.71	6.88	0.73
FROG	160.15	249 Cr	10.58	1.56	0.00	10.79	16.20	8.58
KAVDEFENCE	71.76	247 Cr	33.07	3.42	0.00	8.43	7.95	5.65
UMIYA-MRO	84.64	158 Cr	15.39	1.40	0.00	9.09	10.18	15.30
PUNJCOMMU	61.34	74 Cr	15.11	2.32	0.00	15.34	15.25	6.38
DIGIFIBRE	—	0 Cr	—	0.00	0.00	0.09	5.32	-0.26

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

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	3.13	2.92	3.12	5.88	3.21	5.54	3.55	4.92	6.67	8.17
Expenses	5.46	5.11	5.55	7.90	6.21	8.49	5.75	6.01	8.96	7.78
Operating Profit	-2.33	-2.19	-2.43	-2.02	-3.00	-2.95	-2.20	-1.09	-2.29	0.39
OPM %	-74.44	-75.00	-77.88	-34.35	-93.46	-53.25	-61.97	-22.15	-34.33	4.77
Other Income	-0.71	1.84	1.59	17	1.88	2.00	2.82	2.55	2.68	2.90
Interest	0.01	0.00	0.47	0.01	0.17	0.00	0.01	0.00	0.00	0.01
Depreciation	0.05	0.05	0.05	0.05	0.04	0.05	0.05	0.05	0.04	0.04
Profit Before Tax	-3.10	-0.40	-1.36	15	-1.34	-1.00	0.55	1.41	0.35	3.23
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-3.10	-0.40	-1.36	15	-1.34	-1.00	0.55	1.41	0.35	3.23
EPS in Rs	-2.58	-0.33	-1.13	12.49	-1.11	-0.84	0.46	1.17	0.29	2.69

Standalone Profit Loss (in ₹ Crores)

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	30	39	45	28	21	11	11	15	17	21
Expenses	43	51	56	48	41	32	27	24	27	29
Operating Profit	-12	-12	-11	-20	-20	-21	-16	-9.10	-9.42	-8.53
OPM %	-40.20	-30.25	-25.30	-72.28	-97.23	-193.45	-155.76	-60.47	-54.69	-41.25
Other Income	9.06	8.80	9.46	9.01	8.48	7.91	1.14	20	9.24	10
Interest	0.05	0.10	0.32	0.05	0.03	0.02	0.04	0.50	0.00	0.01
Depreciation	0.53	0.61	0.55	0.44	0.35	0.29	0.23	0.20	0.20	0.19
Profit Before Tax	-6.29	-4.83	-2.70	-11	-12	-13	-16	10	-0.38	1.31
Tax %	0.00	0.00	0.00	0.00	0.00	5.53	0.00	0.00	0.00	0.00
Net Profit	-6.29	-4.83	-2.70	-11	-12	-12	-16	10	-0.38	1.31
EPS in Rs	-5.35	-2.98	-2.27	-9.51	-9.91	-10.38	-13.00	8.45	-0.32	4.61
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

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	12	12	12	12	12	12	12	12	12	12
Reserves	72	65	62	59	46	35	22	6.59	17	17
Borrowings	0.00	0.50	1.89	0.00	0.39	0.00	0.00	0.00	0.00	0.00
Other Liabilities	39	44	44	63	62	63	63	60	53	52
Total Liabilities	122	122	119	134	121	110	97	79	82	81
Fixed Assets	5.66	5.66	4.86	4.54	4.20	3.54	3.28	3.05	2.88	2.84
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	6.99	6.99	7.78	7.77	7.76	8.07	7.83	7.83	0.84	1.06
Other Assets	110	109	107	122	109	98	86	68	78	77
Total Assets	122	122	119	134	121	110	97	79	82	81

Standalone Cash Flows (in ₹ Crores)

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	-0.86	-6.24	-14	-4.93	-10	-4.78	-15	-23	-1.08	-9.39
Cash from Investing Activity	1.38	4.60	16	4.00	14	5.90	8.64	23	25	-9.78
Cash from Financing Activity	-0.07	0.47	1.29	-2.21	0.33	-0.42	3.88	-0.04	-4.40	0.00
Net Cash Flow	0.44	-1.17	3.21	-3.13	4.21	0.70	-2.59	0.08	20	-19

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	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%
FIIs	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%
DIIs	0.25%	0.25%	0.25%	0.25%	0.25%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Public	23.69%	23.69%	23.69%	23.69%	23.69%	23.91%	23.91%	23.91%	23.91%	23.91%	23.91%	23.91%
Total Shareholders	10,067	10,023	9,972	9,868	9,800	9,841	9,881	9,968	10,105	10,138	10,087	10,059

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

6 days ago

Special Window for Re-lodgement of Shares

The company has published a notice in newspapers regarding a special window for the re-lodgement of transfer requests for physical shares, as required by SEBI regulations.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Overall

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Neutral

Bullish

Moving Averages

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Overall

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

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	3.13	2.92	3.12	5.88	3.21	5.54	3.55	4.92	6.67	8.17
Expenses	5.46	5.11	5.55	7.90	6.21	8.49	5.75	6.01	8.96	7.78
Operating Profit	-2.33	-2.19	-2.43	-2.02	-3.00	-2.95	-2.20	-1.09	-2.29	0.39
OPM %	-74.44	-75.00	-77.88	-34.35	-93.46	-53.25	-61.97	-22.15	-34.33	4.77
Other Income	-0.71	1.84	1.59	17	1.88	2.00	2.82	2.55	2.68	2.90
Interest	0.01	0.00	0.47	0.01	0.17	0.00	0.01	0.00	0.00	0.01
Depreciation	0.05	0.05	0.05	0.05	0.04	0.05	0.05	0.05	0.04	0.04
Profit Before Tax	-3.10	-0.40	-1.36	15	-1.34	-1.00	0.55	1.41	0.35	3.23
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-3.10	-0.40	-1.36	15	-1.34	-1.00	0.55	1.41	0.35	3.23
EPS in Rs	-2.58	-0.33	-1.13	12.49	-1.11	-0.84	0.46	1.17	0.29	2.69

Standalone Profit Loss (in ₹ Crores)

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	30	39	45	28	21	11	11	15	17	21
Expenses	43	51	56	48	41	32	27	24	27	29
Operating Profit	-12	-12	-11	-20	-20	-21	-16	-9.10	-9.42	-8.53
OPM %	-40.20	-30.25	-25.30	-72.28	-97.23	-193.45	-155.76	-60.47	-54.69	-41.25
Other Income	9.06	8.80	9.46	9.01	8.48	7.91	1.14	20	9.24	10
Interest	0.05	0.10	0.32	0.05	0.03	0.02	0.04	0.50	0.00	0.01
Depreciation	0.53	0.61	0.55	0.44	0.35	0.29	0.23	0.20	0.20	0.19
Profit Before Tax	-6.29	-4.83	-2.70	-11	-12	-13	-16	10	-0.38	1.31
Tax %	0.00	0.00	0.00	0.00	0.00	5.53	0.00	0.00	0.00	0.00
Net Profit	-6.29	-4.83	-2.70	-11	-12	-12	-16	10	-0.38	1.31
EPS in Rs	-5.35	-2.98	-2.27	-9.51	-9.91	-10.38	-13.00	8.45	-0.32	4.61
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

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	12	12	12	12	12	12	12	12	12	12
Reserves	72	65	62	59	46	35	22	6.59	17	17
Borrowings	0.00	0.50	1.89	0.00	0.39	0.00	0.00	0.00	0.00	0.00
Other Liabilities	39	44	44	63	62	63	63	60	53	52
Total Liabilities	122	122	119	134	121	110	97	79	82	81
Fixed Assets	5.66	5.66	4.86	4.54	4.20	3.54	3.28	3.05	2.88	2.84
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	6.99	6.99	7.78	7.77	7.76	8.07	7.83	7.83	0.84	1.06
Other Assets	110	109	107	122	109	98	86	68	78	77
Total Assets	122	122	119	134	121	110	97	79	82	81

Standalone Cash Flows (in ₹ Crores)

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	-0.86	-6.24	-14	-4.93	-10	-4.78	-15	-23	-1.08	-9.39
Cash from Investing Activity	1.38	4.60	16	4.00	14	5.90	8.64	23	25	-9.78
Cash from Financing Activity	-0.07	0.47	1.29	-2.21	0.33	-0.42	3.88	-0.04	-4.40	0.00
Net Cash Flow	0.44	-1.17	3.21	-3.13	4.21	0.70	-2.59	0.08	20	-19

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
KRONECOMM	1203.40	554 Cr	30.65	7.19	2.49	23.45	31.03	17.25
PRECISIO	194.95	270 Cr	374.90	21.61	0.00	5.71	6.88	0.73
FROG	160.15	249 Cr	10.58	1.56	0.00	10.79	16.20	8.58
KAVDEFENCE	71.76	247 Cr	33.07	3.42	0.00	8.43	7.95	5.65
UMIYA-MRO	84.64	158 Cr	15.39	1.40	0.00	9.09	10.18	15.30
PUNJCOMMU	61.34	74 Cr	15.11	2.32	0.00	15.34	15.25	6.38
DIGIFIBRE	—	0 Cr	—	0.00	0.00	0.09	5.32	-0.26

Overview

Detailed Summary

The company has historically experienced fluctuations in its turnover due to industry shifts from narrowband to broadband and wireless communication technologies.

PCL has established strategic partnerships with global companies such as Huawei and ECI Telecom to expand its product offerings, especially in optical and SDH products.

The company is mainly focused on the Indian market, with Railtel being a significant client, planning substantial OFC cable deployments.

PCL is positioning itself to leverage opportunities in the telecommunications sector by upgrading its product lines to meet new technological demands.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Equipment - Medium / Small

Market Cap

74 Cr

Volatility

Low Risk

P/E Ratio

15.1

Industry P/E

56.7

PEG Ratio

0.2

P/B Ratio

2.3

52W High

74.01

52W Low

40.80

Sales CAGR

-78.83%

16.96%

-9.01%

10Y

-2.60%

Profit CAGR

62.36%

—

10Y

—

ROE

TTM

15.34%

-7.70%

-19.19%

10Y

-12.52%

ROCE

TTM

15.25%

-6.20%

-16.85%

10Y

-11.53%