Market Cap ₹1632 Cr.
Stock P/E 68.9
P/B 13.2
Current Price ₹715
Book Value ₹ 54.2
Face Value 10
52W High ₹894
Dividend Yield 0.31%
52W Low ₹ 580.6
Nelco Ltd is an India-based organisation. The Company is engaged in the enterprise of presenting systems and solutions within the areas of very small aperture terminal (VSAT) connectivity and included protection & surveillance. The Company operates in a single reportable phase, that is network systems consisting of SatCom Services (such as equipment sale, maintenance, and other allied offerings). Its Network structures accommodates sale of VSAT hardware and imparting allied offerings which includes community management, project control, infrastructure offerings, turnkey solutions for satellite communication systems, and co-location services to clients. The Company offers solutions to sectors, consisting of bank, oil & gas exploration, authorities, education, renewable power, IFMC Services, and other sectors. The Company has totally owned subsidiaries include Tatanet Services Ltd. (TNSL) & Nelco Network Products Ltd. (NNPL). The Company is a subsidiary of The Tata Power Company Ltd.
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| #(Fig in Cr.) | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 72 | 72 | 82 | 75 | 74 | 82 | 79 | 77 | 83 | 82 |
| Other Income | 1 | 2 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 1 |
| Total Income | 74 | 73 | 82 | 76 | 75 | 83 | 79 | 77 | 84 | 82 |
| Total Expenditure | 58 | 59 | 67 | 61 | 59 | 65 | 64 | 63 | 67 | 67 |
| Operating Profit | 16 | 14 | 15 | 15 | 16 | 18 | 15 | 14 | 17 | 15 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 |
| Depreciation | 6 | 7 | 6 | 7 | 7 | 8 | 5 | 5 | 6 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 7 | 5 | 7 | 6 | 7 | 8 | 8 | 8 | 9 | 8 |
| Provision for Tax | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 2 |
| Profit After Tax | 5 | 3 | 5 | 4 | 5 | 6 | 6 | 6 | 6 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 5 | 3 | 5 | 4 | 5 | 6 | 6 | 6 | 6 | 6 |
| Adjusted Earnings Per Share | 2.3 | 1.3 | 2.1 | 2 | 2.2 | 2.5 | 2.5 | 2.5 | 2.7 | 2.7 |
| #(Fig in Cr.) | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 161 | 135 | 123 | 200 | 144 | 150 | 191 | 220 | 226 | 260 | 313 | 321 |
| Other Income | 7 | 3 | 4 | 6 | 6 | 6 | 5 | 3 | 3 | 5 | 3 | 2 |
| Total Income | 168 | 138 | 127 | 206 | 150 | 155 | 196 | 223 | 229 | 265 | 316 | 322 |
| Total Expenditure | 152 | 136 | 115 | 181 | 127 | 125 | 156 | 171 | 181 | 210 | 252 | 261 |
| Operating Profit | 16 | 2 | 13 | 24 | 23 | 30 | 40 | 52 | 48 | 55 | 64 | 61 |
| Interest | 9 | 10 | 7 | 13 | 9 | 6 | 7 | 13 | 10 | 8 | 9 | 7 |
| Depreciation | 9 | 9 | 9 | 11 | 8 | 9 | 13 | 20 | 22 | 25 | 28 | 22 |
| Exceptional Income / Expenses | 3 | 0 | 12 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | -17 | 10 | 1 | 7 | 15 | 20 | 20 | 16 | 23 | 28 | 33 |
| Provision for Tax | 0 | -0 | 1 | 0 | 1 | 3 | -2 | 6 | 4 | 7 | 8 | 10 |
| Profit After Tax | 1 | -17 | 9 | 1 | 6 | 12 | 22 | 14 | 12 | 16 | 20 | 24 |
| Adjustments | 0 | 0 | -7 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | -17 | 2 | 2 | 6 | 12 | 22 | 14 | 12 | 16 | 20 | 24 |
| Adjusted Earnings Per Share | 0.5 | -7.3 | 0.8 | 1 | 2.8 | 5.3 | 9.8 | 6.3 | 5.4 | 7 | 8.7 | 10.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 20% | 12% | 16% | 7% |
| Operating Profit CAGR | 16% | 7% | 16% | 15% |
| PAT CAGR | 25% | 13% | 11% | 35% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 20% | 51% | 20% | 34% |
| ROE Average | 21% | 19% | 26% | 18% |
| ROCE Average | 26% | 21% | 22% | 17% |
| #(Fig in Cr.) | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 33 | 16 | 17 | 16 | 22 | 34 | 56 | 66 | 76 | 89 | 105 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 2 | 3 | 3 | 0 | 2 | 8 | 34 | 29 | 15 | 19 | 19 |
| Other Non-Current Liabilities | 29 | 26 | 25 | 4 | 17 | 14 | 12 | 13 | 33 | 29 | 25 |
| Total Current Liabilities | 140 | 138 | 120 | 135 | 103 | 116 | 142 | 175 | 123 | 133 | 119 |
| Total Liabilities | 203 | 183 | 165 | 155 | 143 | 171 | 244 | 283 | 247 | 270 | 267 |
| Fixed Assets | 39 | 37 | 35 | 28 | 36 | 51 | 87 | 117 | 108 | 110 | 95 |
| Other Non-Current Assets | 38 | 44 | 49 | 42 | 47 | 45 | 56 | 49 | 48 | 36 | 29 |
| Total Current Assets | 126 | 102 | 81 | 86 | 61 | 76 | 96 | 117 | 91 | 124 | 143 |
| Total Assets | 203 | 183 | 165 | 155 | 143 | 171 | 244 | 283 | 247 | 270 | 267 |
| #(Fig in Cr.) | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 6 | 4 | 4 | 5 | 2 | -2 | 3 | 5 | 3 | 2 | 16 |
| Cash Flow from Operating Activities | -27 | 26 | 33 | 3 | 38 | 32 | 21 | 33 | 54 | 51 | 58 |
| Cash Flow from Investing Activities | -6 | -8 | -7 | -8 | -3 | -14 | -45 | -40 | -8 | -18 | -25 |
| Cash Flow from Financing Activities | 31 | -18 | -24 | 5 | -40 | -12 | 25 | 4 | -47 | -19 | -33 |
| Net Cash Inflow / Outflow | -2 | -1 | 1 | 0 | -5 | 6 | 2 | -2 | -1 | 14 | 1 |
| Closing Cash & Cash Equivalent | 4 | 4 | 5 | 5 | -2 | 3 | 5 | 3 | 2 | 16 | 16 |
| # | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.45 | -7.29 | 0.85 | 0.97 | 2.75 | 5.31 | 9.77 | 6.3 | 5.42 | 7.05 | 8.7 |
| CEPS(Rs) | 4.18 | -3.53 | 7.81 | 5.16 | 6.27 | 9.47 | 15.45 | 15.07 | 15.19 | 17.84 | 20.87 |
| DPS(Rs) | 0.5 | 0 | 0 | 0 | 0 | 0 | 1.5 | 1.2 | 1.2 | 1.8 | 2 |
| Book NAV/Share(Rs) | 14.26 | 6.97 | 7.41 | 6.95 | 9.58 | 14.8 | 24.47 | 28.87 | 33.31 | 39.02 | 45.82 |
| Core EBITDA Margin(%) | 5.6 | -1.1 | 6.97 | 9.39 | 11.79 | 16.22 | 18.47 | 22.31 | 19.74 | 19.28 | 19.61 |
| EBIT Margin(%) | 6.02 | -5.37 | 13.35 | 6.88 | 10.74 | 14.14 | 14.34 | 15.18 | 11.24 | 11.8 | 11.65 |
| Pre Tax Margin(%) | 0.52 | -12.74 | 7.84 | 0.33 | 4.82 | 10.17 | 10.48 | 9.21 | 7.02 | 8.9 | 8.88 |
| PAT Margin (%) | 0.42 | -12.54 | 7.42 | 0.33 | 4.37 | 8.09 | 11.67 | 6.54 | 5.47 | 6.18 | 6.34 |
| Cash Profit Margin (%) | 5.82 | -5.95 | 14.37 | 5.89 | 9.95 | 14.44 | 18.45 | 15.64 | 15.33 | 15.66 | 15.2 |
| ROA(%) | 0.35 | -8.79 | 5.28 | 0.41 | 4.21 | 8.04 | 10.73 | 5.46 | 4.66 | 6.22 | 7.39 |
| ROE(%) | 2.13 | -70.09 | 56.09 | 4.03 | 33.3 | 43.53 | 49.75 | 23.63 | 17.42 | 19.48 | 20.51 |
| ROCE(%) | 9.5 | -6.65 | 18.37 | 14.93 | 17.22 | 26.08 | 24.69 | 21.09 | 15.82 | 21.43 | 25.52 |
| Receivable days | 158.61 | 178.01 | 139.35 | 74.62 | 97.51 | 107.81 | 109.59 | 108.07 | 107.76 | 99.03 | 93.54 |
| Inventory Days | 44.46 | 54.75 | 51.2 | 21.13 | 21.61 | 21.81 | 16.01 | 15.28 | 17.68 | 19.09 | 21.6 |
| Payable days | 236.47 | 274.23 | 378.56 | 287.56 | 392.39 | 556.11 | 370.05 | 434.4 | 473.15 | 361.24 | 354.74 |
| PER(x) | 117.48 | 0 | 103.58 | 92.21 | 28.62 | 29.2 | 27.97 | 21.34 | 34.82 | 101.43 | 59.5 |
| Price/Book(x) | 3.71 | 4.79 | 11.83 | 12.86 | 8.22 | 10.47 | 11.17 | 4.66 | 5.66 | 18.32 | 11.3 |
| Dividend Yield(%) | 0.94 | 0 | 0 | 0 | 0 | 0 | 0.55 | 0.89 | 0.64 | 0.25 | 0.39 |
| EV/Net Sales(x) | 1.27 | 1.14 | 2.12 | 1.42 | 1.62 | 2.67 | 3.67 | 1.85 | 2.16 | 6.42 | 3.84 |
| EV/Core EBITDA(x) | 12.78 | 92.81 | 20.51 | 11.61 | 10.09 | 13.28 | 17.39 | 7.77 | 10.22 | 30.18 | 18.71 |
| Net Sales Growth(%) | 21.98 | -16.17 | -8.51 | 48.87 | -28.14 | 4.13 | 27.67 | 15.14 | 2.81 | 15.01 | 20.48 |
| EBIT Growth(%) | 219.69 | -173.68 | 327.66 | 17.78 | 12.22 | 37.07 | 29.55 | 21.86 | -23.9 | 20.74 | 18.97 |
| PAT Growth(%) | 104.41 | -2540.03 | 154.21 | -60.15 | 851.52 | 92.83 | 84.06 | -35.49 | -14.05 | 30.1 | 23.45 |
| EPS Growth(%) | 106.62 | -1716.73 | 111.61 | 14.51 | 184.18 | 92.83 | 84.06 | -35.49 | -14.05 | 30.1 | 23.44 |
| Debt/Equity(x) | 2.74 | 5.09 | 3.93 | 5.36 | 2.59 | 1.48 | 1.47 | 1.71 | 0.88 | 0.61 | 0.36 |
| Current Ratio(x) | 0.9 | 0.74 | 0.67 | 0.64 | 0.59 | 0.65 | 0.67 | 0.67 | 0.74 | 0.93 | 1.2 |
| Quick Ratio(x) | 0.75 | 0.6 | 0.55 | 0.58 | 0.5 | 0.58 | 0.62 | 0.61 | 0.64 | 0.81 | 1.02 |
| Interest Cover(x) | 1.1 | -0.73 | 2.42 | 1.05 | 1.82 | 3.57 | 3.71 | 2.54 | 2.67 | 4.07 | 4.21 |
| Total Debt/Mcap(x) | 0.74 | 1.06 | 0.33 | 0.42 | 0.31 | 0.14 | 0.13 | 0.37 | 0.16 | 0.03 | 0.03 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 | 50.09 |
| FII | 3.22 | 3.36 | 3.34 | 3.45 | 2.3 | 4.4 | 4.33 | 4.43 | 4.49 | 4.53 |
| DII | 4.1 | 4.1 | 4.1 | 4.1 | 4.1 | 0.31 | 0.31 | 0.35 | 0.34 | 0.31 |
| Public | 42.59 | 42.45 | 42.47 | 42.35 | 43.51 | 45.2 | 45.27 | 45.13 | 45.08 | 45.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 |
| FII | 0.07 | 0.08 | 0.08 | 0.08 | 0.05 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| DII | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 0.97 | 0.97 | 0.97 | 0.97 | 0.99 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 | 2.28 |
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