Suyog Telematics Ltd
BSE:537259
Suyog Telematics Ltd
Suyog Telematics Ltd. engages in the provision of passive telecommunication infrastructure. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2014-01-22. The firm is engaged primarily in the business of installing and commissioning of telecom towers and optical fiber cable (OFC) systems in India. Its telecommunication products include telecommunications cables, telecommunication panels, diesel generators, earth strips, batteries, electric power cable, fiber cable and galvanized poles in different specifications stated by the buyers. Its product portfolio includes small cell sites, fiber optic networks, pole sites, closed circuit television (CCTV) sites, slum sites, roof top towers (RTT/RTP) sites, cell on wheels (COW) towers, ground-based towers, macro sites and government sites. Its services include fiber optic network solutions, tower erection services and pole erection services. Its telecom towers are located in Mumbai, Maharashtra, Gujarat, Delhi, Rajasthan, Karnataka, Tamil Nadu, Andhra Pradesh, Odisha, Assam, West Bengal and Uttarakhand.
Suyog Telematics Ltd. engages in the provision of passive telecommunication infrastructure. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2014-01-22. The firm is engaged primarily in the business of installing and commissioning of telecom towers and optical fiber cable (OFC) systems in India. Its telecommunication products include telecommunications cables, telecommunication panels, diesel generators, earth strips, batteries, electric power cable, fiber cable and galvanized poles in different specifications stated by the buyers. Its product portfolio includes small cell sites, fiber optic networks, pole sites, closed circuit television (CCTV) sites, slum sites, roof top towers (RTT/RTP) sites, cell on wheels (COW) towers, ground-based towers, macro sites and government sites. Its services include fiber optic network solutions, tower erection services and pole erection services. Its telecom towers are located in Mumbai, Maharashtra, Gujarat, Delhi, Rajasthan, Karnataka, Tamil Nadu, Andhra Pradesh, Odisha, Assam, West Bengal and Uttarakhand.
Revenue Growth: Suyog Telematics reported Q3 revenue of INR 555 million, with revenues remaining stable over the last 3-4 quarters despite rollout delays.
Margin Stability: The company maintained strong EBITDA and PAT margins, with Q3 EBITDA at INR 395 million and PAT margins guided at 30-32% as sustainable.
Tower & Tenancy Expansion: The company ended December with 5,904 towers and 7,206 tenancies, targeting 10,000 additional tenancies in FY '27 to reach 17,000.
Delayed but Secured Rollouts: Major rollouts from Vodafone and BSNL were delayed but are now expected to accelerate, with substantial funding secured by both operators for FY '27.
Guidance Adjustments: FY '26 tenancy guidance was revised down to 7,500-8,000 from 9,000 due to delays; revenue guidance also lowered from INR 240 crores, with a major uptick expected in FY '27.
Funding Readiness: Suyog has funding lined up for 2,500–3,000 new sites, with additional fundraising likely needed as FY '27 rollout scales.
Receivables Position: As of December 31, receivables stood at INR 52 crores, with Vodafone payments described as timely.
