🔍 At a Glance
Suyog Telematics, once a quiet infra player for telcos, has seenits revenue grow 46%from FY21 to FY25 — from ₹132 Cr to ₹193 Cr. But profits have been all over the telecom pole. EPS peaked at ₹59 in FY24… only to nosedive to ₹36 in FY25. ROCE has halved. Net profit fell 35% YoY. The question now: is Suyog a stable long-term infra play — or just another high-PE microcap that lost signal?
🧬 About the Company
- Founded: 1995
- Business: Installs, operates, and maintains telecom infrastructure — towers, small cells, poles, OFC cables.
- Clients: Major telecom players across12 telecom circles.
- DoT Licensed: Registered as IP-I (Infrastructure Provider Category-I) — allowed to lease passive infra to telcos.
- Coverage: Claims presence in26 states & UTsacross India.
Not a
flashy business — but in a tower-crazy 5G India, it should be booming… right?
👨💼 Key Managerial Personnel (KMP)
| Name | Role |
|---|---|
| Mr. Rakesh Bhise | Chairman & Managing Director |
| Mr. Prasad Bhise | Executive Director |
| Mr. Vikas Bhise | CFO |
Family-run and tightly held — withpromoters increasing stake from 47.3% to 49.7%in FY25, even as institutions trimmed exposure slightly.
📊 5-Year Financial Recap (FY21–FY25)
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | EPS (₹) | OPM % | ROCE % | Dividend Payout % |
|---|---|---|---|---|---|---|
| FY21 | 132 | 24 | 24.03 | 50% | 26% | 0% |
| FY22 | 126 | 41 | 39.48 | 69% | 26% | 3% |
| FY23 | 144 | 46 | 44.18 | 65% | 22% | 1% |
| FY24 | 167 | 63 | 59.38 | 70% | 22% | 2% |
| FY25 | 193 | 41 | 36.43 | 57% | 14% | 0% |
✅ Revenue up 46%❌ Net profit flat from FY22 to FY25📉EPS down 39% YoY in FY25📉 ROCE collapsed to 14%
💸 Cash Flow, Margins & Capex Firehose
- Operating cash flow in FY25: ₹71 Cr (flat YoY)
- Capex
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