At a Glance
Tata Teleservices (Maharashtra) Ltd is the telecom penny stock that every bull market resurrects. Despite no profits in 15+ years, and net worth so deep in negative it deserves its own excavation team, it remains a retail favourite — because “Tata hai boss.”
⚠️ 1. TL;DR – The Telecom Titanic That Still Floats
- 📉5-Year Stock Move: ₹38 → ₹68 → ₹305 (2021 high) → back to ₹68
- 💀Cumulative PAT (FY21–25): -₹6,160 Cr
- 📡Core Business: Wireline + Managed IT/Telecom services in Maharashtra + Goa
- 🧾Net Worth: -₹21,525 Cr 🤯
- đź’łDebt: â‚ą20,400 Cr (still rising)
- 🔥ROCE: 50%+ (technical artifact, not operational excellence)
- 🧠KMPs: CEO Ravinder Kumar, new
- CHRO Mridul Chandra (2025)
📡 2. Business Model – Death by Interest Expense
- Residual entity after Tata Group exited mobile telecom in FY19
- Tata Tele sold spectrum + mobile biz to Bharti Airtel; what’s left:
- Enterprise broadband
- Wireline voice
- ISP license in Maharashtra + Goa
But here’s the catch:
- Revenue hasbarely movedin 5 years.
- Interest expense is5x operating profit.
- Still postsâ‚ą300+ Cr quarterly losses, like clockwork.
📊 3. Financials – A Case Study in Balance Sheet Hell
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue (â‚ą Cr) | 1,044 | 1,094 | 1,106 | 1,192 | 1,308 |
| Net Profit (â‚ą Cr) | -1,997 | -1,215 | -1,145 | -1,228 | -1,275 |
| EPS (â‚ą) | -10.2 | -6.2 | -5.9 | -6.3 | -6.5 |
| Operating Profit | ₹571 Cr | but… | |||
| Interest Paid | ₹1,694 Cr | 🧨 |
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