NELCO Ltd

₹ 877 -3.36%

04 Apr 3:39 p.m.

About

Incorporated in 1940, Nelco Ltd provides domestic satellite communication services to close user group networks^[1]

Key Points

Business Overview:^[1]^[2]
a) Nelco is a subsidiary of Tata Power and an TL9000, ISO 20000-1:2011 and ISO 27001:2013 certified company.
b) Company provides domestic satellite communication services to close user group (CUG) networks via Satellite System on non-exclusive basis within the territorial boundary of India
c) It offers its enterprise & government customers customized solutions in areas of VSAT connectivity, Satcom Projects and Integrated Security & Surveillance Solutions.
d) It connects businesses and remote operations through satellite communication services. In addition, it offers end to end networking solutions (Satcom Projects) and maintenance of private hubs and hybrid networks for its customers, from government to corporates.
e) It helps Government, Defense and Enterprise sectors when it comes to security and surveillance in India.

Website BSE NSE

Market Cap ₹ 2,002 Cr.
Current Price ₹ 877
High / Low ₹ 1,503 / 643
Stock P/E 102
Book Value ₹ 55.7
Dividend Yield 0.24 %
ROCE 23.4 %
ROE 20.7 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 23.2%

Cons

Stock is trading at 15.8 times its book value
The company has delivered a poor sales growth of 10.9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Telecomm Equipment & Infra Services Industry: Telecommunications - Service Provider

Part of BSE Allcap BSE Information Technology BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	72.06	71.69	81.68	75.44	74.23	81.98	78.80	76.65	83.24	81.61	74.08	82.55	80.72
	57.78	59.15	67.09	61.25	59.10	65.16	64.36	62.74	66.92	66.89	61.76	71.71	68.54
Operating Profit	14.28	12.54	14.59	14.19	15.13	16.82	14.44	13.91	16.32	14.72	12.32	10.84	12.18
OPM %	19.82%	17.49%	17.86%	18.81%	20.38%	20.52%	18.32%	18.15%	19.61%	18.04%	16.63%	13.13%	15.09%
	1.44	1.54	0.29	0.74	0.72	0.85	0.38	0.44	1.13	0.88	0.16	1.19	1.57
Interest	2.07	1.83	1.93	1.93	1.80	2.07	1.54	1.68	1.91	1.44	1.08	1.41	1.51
Depreciation	6.40	7.02	6.28	6.71	6.84	7.95	5.22	5.12	5.85	5.95	5.29	5.18	5.26
Profit before tax	7.25	5.23	6.67	6.29	7.21	7.65	8.06	7.55	9.69	8.21	6.11	5.44	6.98
Tax %	27.45%	42.07%	29.24%	28.93%	30.65%	26.01%	28.91%	24.64%	36.53%	25.70%	25.37%	24.63%	29.08%
	5.26	3.03	4.72	4.47	5.00	5.66	5.73	5.69	6.15	6.10	4.56	4.10	4.95
EPS in Rs	2.31	1.33	2.07	1.96	2.19	2.48	2.51	2.49	2.70	2.67	2.00	1.80	2.17
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2012	Sep 2013	Sep 2014	Mar 2016 18m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	161	135	123	200	144	150	191	220	226	260	313	320	319
	147	133	124	178	125	124	155	170	181	209	252	260	269
Operating Profit	13	2	-1	22	18	25	36	50	45	51	62	60	50
OPM %	8%	1%	-1%	11%	13%	17%	19%	23%	20%	19%	20%	19%	16%
	5	0	19	5	5	6	4	4	3	5	3	3	4
Interest	9	10	7	13	8	6	7	13	10	8	9	7	5
Depreciation	9	9	9	11	8	9	13	20	22	25	28	22	22
Profit before tax	1	-17	2	2	7	15	20	20	16	23	28	34	27
Tax %	19%	-2%	24%	0%	9%	20%	-11%	29%	22%	31%	29%	29%
	1	-17	2	2	6	12	22	14	12	16	20	24	20
EPS in Rs	0.45	-7.29	0.85	0.97	2.75	5.31	9.77	6.30	5.42	7.05	8.70	10.37	8.64
Dividend Payout %	111%	0%	0%	0%	0%	0%	15%	19%	22%	26%	23%	21%

Compounded Sales Growth
10 Years:	9%
5 Years:	11%
3 Years:	12%
TTM:	-1%

Compounded Profit Growth
10 Years:	13%
5 Years:	1%
3 Years:	25%
TTM:	-15%

Stock Price CAGR
10 Years:	28%
5 Years:	46%
3 Years:	4%
1 Year:	19%

Return on Equity
10 Years:	23%
5 Years:	20%
3 Years:	20%
Last Year:	21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	23	23	23	23	23	23	23	23	23	23	23	23	23
Reserves	10	-7	-6	-7	-1	11	33	43	53	66	82	101	104
	89	81	66	85	57	50	82	121	90	81	63	57	51
	62	67	63	55	52	78	99	93	72	93	95	102	105
Total Liabilities	183	164	146	156	131	162	237	280	238	263	262	282	283
	39	37	35	28	36	51	87	117	108	110	95	87	83
CWIP	0	1	3	6	3	5	17	3	4	3	1	10	9
Investments	8	8	8	9	5	6	0	0	0	0	0	4	4
	137	118	99	113	87	101	134	160	126	150	165	181	186
Total Assets	183	164	146	156	131	162	237	280	238	263	262	282	283

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-27	26	33	3	38	32	21	33	54	51	58	45
	-6	-8	-7	-8	-3	-14	-45	-40	-8	-18	-25	-19
	31	-18	-24	5	-40	-12	25	4	-47	-19	-33	-20
Net Cash Flow	-2	-1	1	0	-5	6	2	-2	-1	14	1	6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	173	152	114	79	85	134	115	117	102	109	96	97
Inventory Days	103	132	145	69	130	176	85	123	148	129	153	268
Days Payable	187	292	341	268	340	644	391	443	455	437	324	364
Cash Conversion Cycle	88	-8	-81	-120	-125	-334	-191	-203	-205	-198	-75	0
Working Capital Days	152	98	53	52	17	-15	-24	-1	22	21	37	32
ROCE %	7%	-6%	5%	15%	17%	26%	25%	20%	14%	18%	22%	23%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%
	3.36%	3.34%	7.26%	6.11%	4.42%	4.34%	4.44%	4.51%	4.54%	4.80%	4.64%	5.41%
	3.85%	3.86%	0.05%	0.05%	0.05%	0.05%	0.09%	0.08%	0.05%	0.05%	0.05%	0.14%
	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%
	42.45%	42.47%	42.36%	43.52%	45.21%	45.28%	45.13%	45.07%	45.08%	44.82%	44.99%	44.13%
No. of Shareholders	60,256	60,357	60,271	62,613	65,567	67,242	70,534	69,077	72,703	72,952	66,823	67,645

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	50.10%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%
	0.00%	0.06%	1.55%	1.55%	1.75%	3.36%	4.42%	4.54%	5.41%
	4.17%	4.47%	4.40%	4.27%	3.86%	3.85%	0.05%	0.05%	0.14%
	0.36%	0.31%	0.31%	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%
	45.37%	45.07%	43.64%	43.84%	44.06%	42.45%	45.21%	45.08%	44.13%
No. of Shareholders	25,073	22,087	21,128	23,238	30,690	60,256	65,567	72,703	67,645

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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NELCO Ltd

NELCO Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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