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Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹129 Cr.
Stock P/E
-15.4
P/B
-0
Current Price
₹8.2
Book Value
₹ -346.3
Face Value
10
52W High
₹12.9
52W Low
₹ 4.9
Dividend Yield
0%

GTL Overview

Business

GTL Ltd. is an Indian telecommunication service provider primarily involved in the infrastructure and network services segment of the telecom industry. Its core business model focuses on providing network solutions, managed services, and infrastructure deployment to major telecom operators and enterprises. This includes services such as network planning, design, deployment, operations, and maintenance for both wireless and wireline networks. The company makes money through service contracts, project-based revenue, and recurring fees for managing and maintaining telecom infrastructure.

Revenue Mix

Specific detailed breakdowns of key segments and their revenue contribution are not explicitly provided in the input. However, based on its sector, GTL Ltd.'s revenue likely stems from segments such as:

Network Rollout and Deployment Services (e.g., for 4G/5G expansion)

Managed Network Services (operations, maintenance, and optimization)

Network Planning and Design

Infrastructure Solutions (e.g., potentially tower infrastructure related services, although GTL Infrastructure Ltd. is a separate entity).

Without specific financial data, a precise revenue mix cannot be stated.

Industry

The Indian telecommunication service industry is characterized by intense competition, high capital expenditure, and rapid technological evolution. The market for direct consumer telecom services is dominated by a few large operators (Reliance Jio, Bharti Airtel, Vodafone Idea). GTL Ltd. operates more in the B2B space, positioning itself as a strategic partner to these major operators and enterprises, offering specialized services for network building, operation, and maintenance. Its positioning is that of an enabler of telecom infrastructure rather than a direct consumer service provider, operating in a niche that requires technical expertise and project management capabilities.

MOAT

GTL Ltd.'s potential competitive advantages could include:

Established Relationships: Long-standing relationships and experience working with major Indian telecom operators.

Technical Expertise: Specialized engineering and project management capabilities required for complex network deployments and managed services.

Scale of Operations (within its niche): The ability to handle large-scale, nationwide projects for network infrastructure.

However, the overall industry is highly competitive, and these advantages may not represent a wide and durable moat, as other players can also offer similar services.

Growth Drivers

Key factors that could drive GTL Ltd.'s growth over the next 3-5 years include:

5G Rollout and Expansion: Continued deployment and densification of 5G networks across India by major operators.

Increased Data Consumption: Growing demand for data services driving the need for enhanced network capacity and infrastructure.

Digital Transformation: Enterprises requiring robust and reliable communication infrastructure for their digital initiatives.

Outsourcing Trends: Telecom operators increasingly outsourcing network management and infrastructure development to specialized service providers to optimize costs and efficiency.

Infrastructure Sharing: Potential for growth through shared infrastructure services, reducing capital expenditure for operators.

Risks

GTL Ltd. faces several key business risks:

Intense Competition: High competition from other domestic and international telecom infrastructure and service providers.

Dependency on Major Operators: Significant reliance on contracts from a few large telecom operators, making it vulnerable to their investment cycles and strategic shifts.

Technology Obsolescence: Rapid advancements in telecom technology requiring continuous investment in new skills and equipment.

High Capital Expenditure: Potential for high capital requirements if the company needs to invest in new infrastructure or technology.

Regulatory Changes: Adverse changes in telecom policies or regulations by the Indian government.

Financial Health: The company has faced financial challenges in the past, which could impact its ability to secure new projects or invest in future growth.

Management & Ownership

Specific details on the current management quality and detailed ownership structure are not provided in the input. In Indian corporate context, many companies, especially historically, have been promoter-led. The effectiveness of the management in navigating the highly dynamic and competitive telecom sector, along with its financial turnaround capabilities, would be crucial.

Outlook

GTL Ltd. operates in a crucial segment of India's rapidly evolving telecom industry. The continued thrust on digital infrastructure, 5G expansion, and increasing data consumption presents significant opportunities for companies providing network deployment and managed services (bull case). However, the company faces substantial headwinds, including intense competition from well-capitalized rivals, potential reliance on a few major clients, and historical financial challenges that could limit its operational flexibility and ability to secure new high-value contracts (bear case). Its future trajectory will depend on its ability to leverage its expertise, secure new projects, and manage its financial position effectively within a highly competitive landscape.

GTL Share Price

Live · BSE / NSE · Inception: 1987
| |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

GTL Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 43 66 63 70 51 70 56 55 55 58
Other Income 3 2 1 5 0 1 3 1 0 1
Total Income 46 67 64 75 51 71 58 56 55 59
Total Expenditure 34 31 34 44 77 35 40 78 47 84
Operating Profit 12 36 30 31 -26 36 19 -22 8 -25
Interest 7 8 8 9 9 8 9 8 9 9
Depreciation 1 2 3 3 3 3 2 2 2 2
Exceptional Income / Expenses 0 109 0 0 0 2 11 -10 0 609
Profit Before Tax 4 136 19 19 -37 26 19 -43 -3 574
Provision for Tax 0 0 6 10 5 15 3 -3 0 -35
Profit After Tax 4 136 13 9 -42 11 16 -39 -3 609
Adjustments -0 0 0 -0 0 -0 0 0 0 -0
Profit After Adjustments 4 136 13 9 -42 11 16 -39 -3 609
Adjusted Earnings Per Share 0.2 8.7 0.8 0.6 -2.7 0.7 1 -2.5 -0.2 38.7

GTL Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 2069 1242 1221 995 219 215 221 194 186 202 254 224
Other Income 91 40 34 10 20 12 35 5 6 11 7 5
Total Income 2160 1282 1255 1005 239 228 256 198 192 213 261 228
Total Expenditure 2215 1293 1295 1085 462 434 164 189 205 141 190 249
Operating Profit -54 -10 -41 -80 -224 -207 93 10 -13 72 71 -20
Interest 468 560 547 19 17 19 21 23 26 29 34 35
Depreciation 126 99 47 17 5 5 5 4 4 5 12 8
Exceptional Income / Expenses -153 -1744 0 -2512 0 0 0 450 100 173 2 610
Profit Before Tax -801 -2413 -635 -2628 -245 -231 67 432 57 211 27 547
Provision for Tax 0 0 -5 -0 0 0 0 0 0 0 35 -35
Profit After Tax -801 -2413 -630 -2628 -245 -231 67 432 57 211 -8 583
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -801 -2413 -630 -2628 -245 -231 67 432 57 211 -8 583
Adjusted Earnings Per Share -50.9 -153.4 -40 -167 -15.6 -14.7 4.3 27.5 3.6 13.4 -0.5 37

GTL Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 27 -3055 -3685 -6312 -6557 -6788 -6721 -6289 -6232 -6021 -6029
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1597 114 127 141 157 174 194 215 239 266 295
Other Non-Current Liabilities 1 1 1 1 0 4 2 3 2 20 43
Total Current Liabilities 4376 6467 6876 6663 6710 6874 6722 6290 6249 5941 5796
Total Liabilities 6000 3528 3320 492 310 265 197 219 258 205 105
Fixed Assets 240 144 96 80 79 79 73 71 51 30 16
Other Non-Current Assets 4705 2792 2670 341 185 52 55 3 1 1 2
Total Current Assets 1055 592 554 71 46 134 70 144 206 175 87
Total Assets 6000 3528 3320 492 310 265 197 219 258 205 105

GTL Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 125 54 67 95 15 5 4 2 2 0 0
Cash Flow from Operating Activities 324 108 101 128 91 102 63 29 18 175 198
Cash Flow from Investing Activities 17 24 7 0 0 0 -1 463 119 180 -7
Cash Flow from Financing Activities -413 -120 -79 -209 -102 -103 -64 -492 -134 -355 -191
Net Cash Inflow / Outflow -71 13 28 -80 -11 -1 -1 -0 3 0 0
Closing Cash & Cash Equivalent 55 67 95 15 5 4 2 2 5 0 0

GTL Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -50.94 -153.43 -40.04 -167.05 -15.56 -14.65 4.27 27.46 3.64 13.4 -0.53
CEPS(Rs) -42.92 -147.17 -37.03 -165.94 -15.27 -14.37 4.57 27.74 3.91 13.73 0.2
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -39.64 -194.18 -234.25 -401.28 -416.83 -431.51 -427.25 -399.81 -396.18 -382.79 -383.3
Core EBITDA Margin(%) -7.02 -4.1 -6.07 -9 -111.02 -101.64 25.88 2.4 -10.12 29.93 25.17
EBIT Margin(%) -16.09 -149.25 -7.21 -262.13 -104.11 -98.02 39.78 234.98 44.46 118.7 23.96
Pre Tax Margin(%) -38.72 -194.37 -52.02 -263.99 -111.72 -107.02 30.43 223.18 30.69 104.4 10.62
PAT Margin (%) -38.72 -194.37 -51.58 -263.96 -111.74 -107.02 30.43 223.18 30.69 104.4 -3.3
Cash Profit Margin (%) -32.62 -186.44 -47.7 -262.2 -109.67 -104.92 32.54 225.47 33 106.99 1.26
ROA(%) -12.64 -50.66 -18.4 -137.87 -61 -80.21 29.11 207.61 24.01 91 -5.39
ROE(%) 0 0 0 0 0 0 0 0 0 0 0
ROCE(%) -10.53 0 0 0 0 0 0 0 0 0 0
Receivable days 60.89 53.32 35.67 18.53 0.71 0.02 0.08 18.55 51.63 49.34 26.12
Inventory Days 1.26 0 1.78 0 0 0 0 0 0 0 0
Payable days 44.34 82.72 47.59 35.35 160.47 202.86 102.82 84.69 159.49 174.45 152.77
PER(x) 0 0 0 0 0 0 1.22 0.4 1.35 0.7 0
Price/Book(x) -0.31 -0.06 -0.07 -0.03 -0.01 -0 -0.01 -0.03 -0.01 -0.02 -0.02
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.5 0.18 0.24 0.3 1.02 0.48 23.3 24.6 24.79 21.68 16.65
EV/Core EBITDA(x) -57.22 -21.01 -7.25 -3.77 -1 -0.5 55.64 501.09 -348.47 61.06 59.66
Net Sales Growth(%) -8.64 -40 -1.65 -18.48 -78 -1.67 2.58 -12.42 -3.67 8.32 25.73
EBIT Growth(%) -450.43 -456.42 95.25 -2862.98 91.26 7.42 141.63 417.3 -81.78 189.21 -74.62
PAT Growth(%) -70.57 -201.2 73.9 -317.18 90.68 5.82 129.17 542.28 -86.75 268.47 -103.98
EPS Growth(%) -70.57 -201.2 73.9 -317.18 90.68 5.82 129.17 542.29 -86.75 268.47 -103.98
Debt/Equity(x) 87.74 -0.04 -0.03 -0.02 -0.02 -0.03 -0.76 -0.73 -0.73 -0.71 -0.68
Current Ratio(x) 0.24 0.09 0.08 0.01 0.01 0.02 0.01 0.02 0.03 0.03 0.02
Quick Ratio(x) 0.24 0.09 0.08 0.01 0.01 0.02 0.01 0.02 0.03 0.03 0.02
Interest Cover(x) -0.71 -3.31 -0.16 -140.83 -13.68 -10.89 4.25 19.91 3.23 8.3 1.8
Total Debt/Mcap(x) 11.97 0.62 0.47 0.79 2.13 10.26 61.93 26.58 59.11 28.74 32.26

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +26% +9% +3% -19%
Operating Profit CAGR -1% +92%
PAT CAGR -104% 0%
Share Price CAGR -27% +8% -10% -3%
ROE Average 0% 0% 0% 0%
ROCE Average 0% 0% 0% -1%

GTL Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 14.29 %
FII 0.01 %
DII (MF + Insurance) 8.39 %
Public (retail) 85.71 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 14.2914.2914.2914.2914.2914.2914.2914.2914.2914.29
FII 0.380.430.420.20.160.07000.030.01
DII 10.2610.2610.2610.2610.2610.268.398.398.398.39
Public 85.7185.7185.7185.7185.7185.7185.7185.7185.7185.71
Others 0000000000
Total 100100100100100100100100100100

GTL Peer Comparison

Telecommunication - Service Provider Edit Columns

GTL Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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GTL Pros & Cons

Pros

  • Stock is trading at -0 times its book value
  • Debtor days have improved from 174.45 to 152.77days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 14.29%.
  • Company has a low return on equity of 0% over the last 3 years.
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