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NELCO Overview

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, infrast...Read More

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NELCO Key Financials

Market Cap ₹1522 Cr.

Stock P/E 159.7

P/B 11.8

Current Price ₹666.8

Book Value ₹ 56.5

Face Value 10

52W High ₹1161.5

Dividend Yield 0.15%

52W Low ₹ 502.4

NELCO Share Price

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Volume
Price

NELCO Quarterly Price

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NELCO Peer Comparison

NELCO 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 83 82 74 83 81 68 75 74 78 79
Other Income 1 1 0 1 2 3 1 1 1 2
Total Income 84 82 74 83 82 70 75 76 79 81
Total Expenditure 67 67 62 72 69 61 67 67 70 74
Operating Profit 17 15 12 12 14 9 8 9 8 7
Interest 2 1 1 1 2 2 1 2 1 1
Depreciation 6 6 5 5 5 6 5 5 5 5
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -4 0
Profit Before Tax 9 8 6 5 7 1 2 2 -2 2
Provision for Tax 4 2 2 1 2 5 1 1 -1 1
Profit After Tax 6 6 5 4 5 -4 2 2 -1 1
Adjustments 0 0 0 0 0 -0 0 0 0 -0
Profit After Adjustments 6 6 5 4 5 -4 2 2 -1 1
Adjusted Earnings Per Share 2.7 2.7 2 1.8 2.2 -1.8 0.8 0.7 -0.5 0.5

NELCO Profit & Loss

#(Fig in Cr.) Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 123 200 144 150 191 220 226 260 313 320 305 306
Other Income 4 6 6 6 5 3 3 5 3 2 5 5
Total Income 127 206 150 155 196 223 229 265 316 323 310 311
Total Expenditure 115 181 127 125 156 171 181 210 252 260 262 278
Operating Profit 13 24 23 30 40 52 48 55 64 62 48 32
Interest 7 13 9 6 7 13 10 8 9 7 6 5
Depreciation 9 11 8 9 13 20 22 25 28 22 22 20
Exceptional Income / Expenses 12 0 0 0 0 1 0 0 0 0 0 -4
Profit Before Tax 10 1 7 15 20 20 16 23 28 34 20 4
Provision for Tax 1 0 1 3 -2 6 4 7 8 10 10 2
Profit After Tax 9 1 6 12 22 14 12 16 20 24 10 4
Adjustments -7 2 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 2 2 6 12 22 14 12 16 20 24 10 4
Adjusted Earnings Per Share 0.8 1 2.8 5.3 9.8 6.3 5.4 7 8.7 10.4 4.2 1.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -5% 5% 7% 10%
Operating Profit CAGR -23% -4% -2% 14%
PAT CAGR -58% -15% -7% 1%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -24% 7% 29% 21%
ROE Average 8% 16% 17% 27%
ROCE Average 16% 23% 21% 21%

NELCO Balance Sheet

#(Fig in Cr.) Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 17 16 22 34 56 66 76 89 105 124 128
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3 0 2 8 34 29 15 19 19 0 0
Other Non-Current Liabilities 25 4 17 14 12 13 33 29 25 18 -1
Total Current Liabilities 120 135 103 116 142 175 123 133 119 139 153
Total Liabilities 165 155 143 171 244 283 247 270 267 281 279
Fixed Assets 35 28 36 51 87 117 108 110 95 87 78
Other Non-Current Assets 49 42 47 45 56 49 48 36 29 42 34
Total Current Assets 81 86 61 76 96 117 91 124 143 152 167
Total Assets 165 155 143 171 244 283 247 270 267 281 279

NELCO Cash Flow

#(Fig in Cr.) Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4 5 2 -2 3 5 3 2 16 16 22
Cash Flow from Operating Activities 33 3 38 32 21 33 54 51 58 45 20
Cash Flow from Investing Activities -7 -8 -3 -14 -45 -40 -8 -18 -25 -19 -17
Cash Flow from Financing Activities -24 5 -40 -12 25 4 -47 -19 -33 -20 -11
Net Cash Inflow / Outflow 1 0 -5 6 2 -2 -1 14 1 6 -8
Closing Cash & Cash Equivalent 5 5 -2 3 5 3 2 16 16 22 14

NELCO Ratios

# Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.85 0.97 2.75 5.31 9.77 6.3 5.42 7.05 8.7 10.37 4.18
CEPS(Rs) 7.81 5.16 6.27 9.47 15.45 15.07 15.19 17.84 20.87 20.07 13.89
DPS(Rs) 0 0 0 0 1.5 1.2 1.2 1.8 2 2.2 1
Book NAV/Share(Rs) 7.41 6.95 9.58 14.8 24.47 28.87 33.31 39.02 45.82 54.15 56.05
Core EBITDA Margin(%) 6.97 9.39 11.79 16.22 18.47 22.31 19.74 19.28 19.61 18.73 13.97
EBIT Margin(%) 13.35 6.88 10.74 14.14 14.34 15.18 11.24 11.8 11.65 12.73 8.46
Pre Tax Margin(%) 7.84 0.33 4.82 10.17 10.48 9.21 7.02 8.9 8.88 10.46 6.45
PAT Margin (%) 7.42 0.33 4.37 8.09 11.67 6.54 5.47 6.18 6.34 7.39 3.13
Cash Profit Margin (%) 14.37 5.89 9.95 14.44 18.45 15.64 15.33 15.66 15.2 14.3 10.39
ROA(%) 5.28 0.41 4.21 8.04 10.73 5.46 4.66 6.22 7.39 8.63 3.4
ROE(%) 56.09 4.03 33.3 43.53 49.75 23.63 17.42 19.48 20.51 20.75 7.58
ROCE(%) 18.37 14.93 17.22 26.08 24.69 21.09 15.82 21.43 25.52 27.24 15.99
Receivable days 139.35 74.62 97.51 107.81 109.59 108.07 107.76 99.03 93.54 95.61 114.69
Inventory Days 51.2 21.13 21.61 21.81 16.01 15.28 17.68 19.09 21.6 26.86 33.86
Payable days 378.56 287.56 392.39 556.11 370.05 434.4 473.15 361.24 354.74 415.06 553.65
PER(x) 103.58 92.21 28.62 29.2 27.97 21.34 34.82 101.43 59.5 66.82 215.4
Price/Book(x) 11.83 12.86 8.22 10.47 11.17 4.66 5.66 18.32 11.3 12.8 16.05
Dividend Yield(%) 0 0 0 0 0.55 0.89 0.64 0.25 0.39 0.32 0.11
EV/Net Sales(x) 2.12 1.42 1.62 2.67 3.67 1.85 2.16 6.42 3.84 4.97 6.81
EV/Core EBITDA(x) 20.51 11.61 10.09 13.28 17.39 7.77 10.22 30.18 18.71 25.51 43.46
Net Sales Growth(%) -8.51 48.87 -28.14 4.13 27.67 15.14 2.81 15.01 20.48 2.22 -4.82
EBIT Growth(%) 327.66 17.78 12.22 37.07 29.55 21.86 -23.9 20.74 18.97 11.67 -36.7
PAT Growth(%) 154.21 -60.15 851.52 92.83 84.06 -35.49 -14.05 30.1 23.45 19.24 -59.74
EPS Growth(%) 111.61 14.51 184.18 92.83 84.06 -35.49 -14.05 30.1 23.44 19.24 -59.74
Debt/Equity(x) 3.93 5.36 2.59 1.48 1.47 1.71 0.88 0.61 0.36 0.27 0.3
Current Ratio(x) 0.67 0.64 0.59 0.65 0.67 0.67 0.74 0.93 1.2 1.09 1.1
Quick Ratio(x) 0.55 0.58 0.5 0.58 0.62 0.61 0.64 0.81 1.02 0.9 0.89
Interest Cover(x) 2.42 1.05 1.82 3.57 3.71 2.54 2.67 4.07 4.21 5.62 4.2
Total Debt/Mcap(x) 0.33 0.42 0.31 0.14 0.13 0.37 0.16 0.03 0.03 0.02 0.02

NELCO Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 50.09 50.09 50.09 50.09 50.09 50.09 50.09 50.09 50.09 50.09
FII 4.49 4.53 4.79 4.63 5.4 4.82 4.63 4.55 4.61 4.72
DII 0.34 0.31 0.31 0.31 0.37 0.37 0.38 0.42 0.41 0.51
Public 45.08 45.08 44.82 44.98 44.14 44.72 44.91 44.94 44.89 44.68
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

NELCO News

NELCO Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Debtor days have increased from 415.06 to 553.65days.
  • Stock is trading at 11.8 times its book value.
  • The company has delivered a poor profit growth of -6% over past five years.
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