Steelman Telecom Ltd

STML

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Market Cap

₹ 96 Cr

P/E

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

EXCEPTIONAL

Profitability

LOW MARGIN

Technicals

Bearish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Steelman Telecom Limited is a public limited company primarily engaged in the telecommunications business, providing a wide range of services to telecom operators and OEMs.

The company has a strong technical background, enabling it to offer end-to-end services including network survey, installation, testing, and managed services using AI and automation.

In 2022, Steelman Telecom diversified into electric vehicle services with the launch of 'Snap E Cab' through its subsidiary.

The company has expanded internationally, establishing a subsidiary in Ethiopia, indicating strategic plans for global market penetration.

Steelman Telecom raised significant funds through an IPO in 2022, aiming to fuel its growth and diversification strategies.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Service Provider

Market Cap

96 Cr

Volatility

High Risk

P/E Ratio

—

Industry P/E

37.9

PEG Ratio

—

P/B Ratio

3.1

52W High

189.80

52W Low

88.00

Sales CAGR

5.09%

20.40%

15.23%

10Y

—

Profit CAGR

26.33%

44.22%

63.34%

10Y

—

ROE

TTM

-2.50%

13.88%

14.07%

10Y

—

ROCE

TTM

-9.13%

19.09%

19.45%

10Y

—

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
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
NETTLINX	19.00	46 Cr	8.64	0.78	0.00	9.02	12.59	1.06
QUADRANT	0.34	21 Cr	—	0.00	0.00	4.95	-2.50	-201.44
UNIINFO	16.58	18 Cr	110.53	0.54	0.00	0.49	1.76	0.37
ACCORD	26.35	9 Cr	—	0.68	0.00	5.84	5.59	4.30
CITYONLINE	8.02	4 Cr	—	0.00	0.00	143.07	-153.08	-17.70

Financial Statements

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Consolidated Half Yearly Results (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	55	80	104	116	102	129	117
Expenses	55	74	99	113	99	127	114
Interest	0.67	1.51	2.90	2.14	2.29	3.15	4.05
Operating Profit	0.50	5.19	4.21	2.90	2.29	2.60	2.70
OPM %	0.90	6.52	4.06	2.50	2.26	2.01	2.31
Other Income	0.29	1.25	0.84	0.34	0.31	1.48	0.58
Depreciation	0.81	3.20	7.47	8.50	6.83	8.73	9.59
Profit Before Tax	-0.69	1.74	-5.31	-7.40	-6.52	-7.80	-10
Tax %	59.42	36.78	-21.09	24.32	-46.32	108.72	13.32
Net Profit	-0.28	1.10	-6.44	-5.60	-9.55	0.68	-8.97
EPS in Rs	—	—	—	—	—	—	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	87	100	135	220	231
Expenses	84	94	129	212	226
Operating Profit	2.68	6.23	5.80	7.34	4.89
OPM %	3.09	6.21	4.30	3.34	2.12
Other Income	0.18	-1.08	1.44	0.96	1.79
Interest	1.59	0.83	2.18	5.04	5.45
Depreciation	0.90	0.70	4.01	16	16
Profit Before Tax	0.36	3.62	1.05	-13	-14
Tax %	163.75	25.86	21.62	5.31	38.11
Net Profit	-0.23	2.69	0.82	-12	-8.87
EPS in Rs	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.99	4.99	9.68	9.68	9.68
Reserves	4.87	10	25	27	25
Borrowings	15	15	47	47	85
Other Liabilities	12	15	21	24	31
Total Liabilities	36	45	103	107	151
Fixed Assets	3.35	1.56	37	38	53
CWIP	0.00	0.00	6.86	0.33	1.62
Investments	0.39	0.34	0.34	0.34	0.34
Other Assets	32	43	59	68	96
Total Assets	36	45	103	107	151

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2.60	-2.06	-0.29	3.06	-7.43
Cash from Investing Activity	0.08	0.34	-46	-12	-32
Cash from Financing Activity	0.85	1.76	49	9.19	39
Net Cash Flow	-1.66	0.03	2.36	-0.20	0.37

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	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%	71.98%
FIIs	1.86%	1.86%	1.86%	2.32%	2.32%	2.32%	2.32%	2.32%	2.32%	2.32%	2.32%	2.32%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	26.15%	26.15%	26.15%	25.70%	25.70%	25.70%	25.70%	25.70%	25.70%	25.70%	25.70%	25.70%
Total Shareholders	498	497	532	556	525	512	487	461	494	446	436	453

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 04, 2024	Setu securities pvt. ltd.	Bulk	Buy	154.26	0.89 Cr	57,600	0.59
Dec 04, 2024	Setu securities pvt. ltd.	Bulk	Sell	154.79	0.61 Cr	39,600	0.40
Dec 18, 2023	Zyana stocks and commodities	Bulk	Sell	174.61	2.01 Cr	1,15,200	1.19
Dec 15, 2023	Zyana stocks and commodities	Bulk	Sell	170.38	1.23 Cr	72,000	0.74
Dec 15, 2023	Zyana stocks and commodities	Bulk	Buy	168.00	0.10 Cr	6,000	0.06
Sep 18, 2023	Maven india fund	Bulk	Sell	151.88	0.95 Cr	62,400	0.64

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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Financial Statements

AI Powered Summary

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

AI Mode

Consolidated Half Yearly Results (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	55	80	104	116	102	129	117
Expenses	55	74	99	113	99	127	114
Interest	0.67	1.51	2.90	2.14	2.29	3.15	4.05
Operating Profit	0.50	5.19	4.21	2.90	2.29	2.60	2.70
OPM %	0.90	6.52	4.06	2.50	2.26	2.01	2.31
Other Income	0.29	1.25	0.84	0.34	0.31	1.48	0.58
Depreciation	0.81	3.20	7.47	8.50	6.83	8.73	9.59
Profit Before Tax	-0.69	1.74	-5.31	-7.40	-6.52	-7.80	-10
Tax %	59.42	36.78	-21.09	24.32	-46.32	108.72	13.32
Net Profit	-0.28	1.10	-6.44	-5.60	-9.55	0.68	-8.97
EPS in Rs	—	—	—	—	—	—	—

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	87	100	135	220	231
Expenses	84	94	129	212	226
Operating Profit	2.68	6.23	5.80	7.34	4.89
OPM %	3.09	6.21	4.30	3.34	2.12
Other Income	0.18	-1.08	1.44	0.96	1.79
Interest	1.59	0.83	2.18	5.04	5.45
Depreciation	0.90	0.70	4.01	16	16
Profit Before Tax	0.36	3.62	1.05	-13	-14
Tax %	163.75	25.86	21.62	5.31	38.11
Net Profit	-0.23	2.69	0.82	-12	-8.87
EPS in Rs	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.99	4.99	9.68	9.68	9.68
Reserves	4.87	10	25	27	25
Borrowings	15	15	47	47	85
Other Liabilities	12	15	21	24	31
Total Liabilities	36	45	103	107	151
Fixed Assets	3.35	1.56	37	38	53
CWIP	0.00	0.00	6.86	0.33	1.62
Investments	0.39	0.34	0.34	0.34	0.34
Other Assets	32	43	59	68	96
Total Assets	36	45	103	107	151

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2.60	-2.06	-0.29	3.06	-7.43
Cash from Investing Activity	0.08	0.34	-46	-12	-32
Cash from Financing Activity	0.85	1.76	49	9.19	39
Net Cash Flow	-1.66	0.03	2.36	-0.20	0.37

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Steelman Telecom Limited is a public limited company primarily engaged in the telecommunications business, providing a wide range of services to telecom operators and OEMs.

The company has a strong technical background, enabling it to offer end-to-end services including network survey, installation, testing, and managed services using AI and automation.

In 2022, Steelman Telecom diversified into electric vehicle services with the launch of 'Snap E Cab' through its subsidiary.

The company has expanded internationally, establishing a subsidiary in Ethiopia, indicating strategic plans for global market penetration.

Steelman Telecom raised significant funds through an IPO in 2022, aiming to fuel its growth and diversification strategies.

Sector

Telecom Equipment & Infra Services

Industry

Telecommunications - Service Provider

Market Cap

96 Cr

Volatility

High Risk

P/E Ratio

—

Industry P/E

37.9

PEG Ratio

—

P/B Ratio

3.1

52W High

189.80

52W Low

88.00

Sales CAGR

5.09%

20.40%

15.23%

10Y

—

Profit CAGR

26.33%

44.22%

63.34%

10Y

—

ROE

TTM

-2.50%

13.88%

14.07%

10Y

—

ROCE

TTM

-9.13%

19.09%

19.45%

10Y

—

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
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
NETTLINX	19.00	46 Cr	8.64	0.78	0.00	9.02	12.59	1.06
QUADRANT	0.34	21 Cr	—	0.00	0.00	4.95	-2.50	-201.44
UNIINFO	16.58	18 Cr	110.53	0.54	0.00	0.49	1.76	0.37
ACCORD	26.35	9 Cr	—	0.68	0.00	5.84	5.59	4.30
CITYONLINE	8.02	4 Cr	—	0.00	0.00	143.07	-153.08	-17.70