Transmission Towers / Equipments · Founded 2006 · www.neueon.in · BSE 532887 · NSE NEUEON · ISIN INE333I01044
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Business
Neueon Corporation Ltd. operates in the Transmission Towers and Equipment sector in India. The company is primarily involved in the manufacturing and supply of transmission line towers and related accessories. Its core business model is B2B, serving clients such as power transmission companies, government utilities, engineering, procurement, and construction (EPC) contractors, both domestically and potentially internationally. The company makes money by selling its fabricated towers and equipment, which are critical components for building and expanding power transmission infrastructure. This may also include services related to design, testing, and delivery of these products.
Revenue Mix
Based on the industry description, the primary revenue segments for Neueon Corporation Ltd. would be:
Transmission Towers: Manufacturing and supply of various types of lattice towers used for high-voltage power transmission lines.
Equipment/Accessories: Related hardware, conductors, insulators, and other components necessary for tower erection and transmission line operation.
Specific revenue contribution breakdown by product category or service is not publicly available without financial reports.
Industry
The Transmission Towers and Equipment industry in India is largely driven by government infrastructure spending, growth in power generation (especially renewables), and grid modernization initiatives. It is a capital-intensive and project-oriented sector, often characterized by competitive bidding and long project cycles. The industry includes a mix of large integrated players and smaller specialized manufacturers. Neueon Corporation Ltd. operates within this competitive landscape, likely competing with various domestic and potentially some international manufacturers and EPC firms for projects from central and state utilities, as well as private developers. Its positioning would depend on its production capacity, technical capabilities, certifications, cost efficiency, and established client relationships.
MOAT
Without specific company details, potential competitive advantages (moats) for a company like Neueon Corporation Ltd. could include:
Scale and Cost Efficiency: Larger production capacities can lead to economies of scale in manufacturing and procurement of raw materials (e.g., steel, zinc).
Technical Expertise & Certifications: Specialized engineering capabilities, adherence to stringent quality standards (e.g., ISO, utility-specific approvals), and experience in complex designs.
Established Relationships: Long-standing partnerships with key customers (e.g., Power Grid Corporation of India, state transmission utilities) and a proven track record.
Geographic Presence: Strategic manufacturing locations that allow for efficient logistics and better access to project sites.
Integrated Operations: Capabilities beyond just manufacturing, possibly including design, testing, and project management.
Growth Drivers
Key factors that could drive growth for Neueon Corporation Ltd. over the next 3-5 years include:
Government Infrastructure Push: Continued investment in power transmission and distribution infrastructure under national schemes (e.g., Green Energy Corridors, TBCB projects).
Renewable Energy Integration: Expansion of renewable energy capacity (solar, wind) necessitates robust transmission networks to evacuate power from generation sites to consumption centers.
Urbanization & Industrialization: Growing power demand from urban centers and industrial zones requires grid upgrades and expansion.
Grid Modernization: Replacement and refurbishment of aging transmission infrastructure to improve reliability and reduce losses.
Export Opportunities: Participation in global infrastructure projects, especially in developing economies.
Risks
Commodity Price Volatility: Significant fluctuations in raw material prices (primarily steel and zinc) can impact profitability due to long project cycles and fixed-price contracts.
Project Delays & Execution Risk: Delays in government approvals, land acquisition, and project execution can tie up working capital and delay revenue recognition.
Intense Competition: The presence of numerous players can lead to pricing pressures and lower margins.
Cyclical Demand: The industry's reliance on capital expenditure cycles of power utilities makes demand prone to economic downturns and policy shifts.
Working Capital Management: High working capital requirements due to inventory holding and extended payment cycles from customers (especially government entities).
Regulatory & Policy Changes: Changes in power sector policies, tendering processes, or environmental regulations could impact operations.
Management & Ownership
Neueon Corporation Ltd., like many Indian companies, is typically promoted by a founding family or group. The management quality would depend on their experience in the power transmission sector, strategic vision, operational efficiency, and corporate governance practices. The ownership structure generally includes the promoter group holding a significant stake, alongside institutional investors, high-net-worth individuals, and the public. Specific details on the promoter family, key management personnel, and exact ownership percentages are not available in the provided information.
Outlook
The outlook for Neueon Corporation Ltd. is tied to the broader Indian power transmission sector. The bullish case hinges on India's ambitious infrastructure development plans, particularly in renewable energy integration and grid modernization, which are expected to sustain demand for transmission towers and equipment. Government focus on improving power access and reliability, alongside potential export growth, could provide a strong growth trajectory. However, the bearish perspective highlights risks such as fierce competition leading to margin erosion, volatility in raw material costs, the inherent cyclicality of large-scale infrastructure projects, and challenges in working capital management due to extended payment cycles. The company's ability to manage these risks while capitalizing on demand will determine its performance.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(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 | 0 | 0 | 0 | 0 | 0 | 5 | 4 | 4 | 1 | 6 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 6 | 4 | 4 | 1 | 6 |
| Total Expenditure | 0 | 0 | 0 | 0 | 2 | 7 | 5 | 71 | -64 | 200 |
| Operating Profit | -0 | -0 | -0 | -0 | -2 | -1 | -0 | -67 | 66 | -193 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 24 | 24 | 23 | 24 | 24 | 42 | 22 | 22 | 17 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -58 | -13 |
| Profit Before Tax | -24 | -24 | -24 | -24 | -25 | -43 | -22 | -89 | -9 | -206 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -24 | -24 | -24 | -24 | -25 | -43 | -22 | -89 | -9 | -206 |
| Adjustments | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 |
| Profit After Adjustments | -24 | -24 | -24 | -24 | -25 | -43 | -22 | -89 | -9 | -206 |
| Adjusted Earnings Per Share | -4.2 | -4.2 | -4.2 | -4.2 | -4.5 | -7.6 | -3.9 | -15.7 | -0.2 | -3.7 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1939 | 2268 | 1467 | 245 | 73 | 42 | 3 | 0 | 0 | 0 | 5 | 15 |
| Other Income | 3 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 2 | 1 | 0 | 0 |
| Total Income | 1942 | 2269 | 1468 | 245 | 73 | 43 | 4 | 0 | 2 | 2 | 6 | 15 |
| Total Expenditure | 1718 | 2010 | 1232 | 316 | 418 | 541 | 108 | 2 | 1 | 1 | 7 | 212 |
| Operating Profit | 224 | 259 | 236 | -72 | -345 | -497 | -104 | -2 | 1 | 0 | -2 | -194 |
| Interest | 209 | 227 | 258 | 293 | 0 | 68 | 16 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 23 | 28 | 78 | 95 | 94 | 94 | 94 | 94 | 94 | 94 | 89 | 61 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -71 |
| Profit Before Tax | -7 | 5 | -100 | -459 | -440 | -660 | -214 | -96 | -93 | -94 | -91 | -326 |
| Provision for Tax | 1 | 1 | 45 | 32 | 23 | 15 | 8 | -32 | 0 | 0 | 0 | 0 |
| Profit After Tax | -9 | 3 | -145 | -491 | -463 | -675 | -222 | -65 | -93 | -94 | -91 | -326 |
| Adjustments | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -3 | 4 | -145 | -491 | -463 | -675 | -222 | -65 | -93 | -94 | -91 | -326 |
| Adjusted Earnings Per Share | -0.6 | 0.7 | -25.7 | -86.8 | -81.8 | -119.4 | -39.3 | -11.4 | -16.5 | -16.6 | -16 | -23.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | -35% | -45% |
| Operating Profit CAGR | 0% | 0% | 0% | NAN% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 404% | 206% | 93% | 11% |
| ROE Average | 0% | 0% | 0% | -77% |
| ROCE Average | -10% | -10% | -10% | -7% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 892 | 897 | 792 | 295 | -168 | -911 | -1117 | -1186 | -1374 | -1447 | 947 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1111 | 1064 | 1082 | 1062 | 412 | 141 | 146 | 146 | 146 | 0 | 0 |
| Other Non-Current Liabilities | 72 | 343 | 114 | 146 | 169 | 183 | 191 | 159 | 159 | 306 | 159 |
| Total Current Liabilities | 1529 | 1724 | 1905 | 2222 | 2840 | 2386 | 2398 | 2406 | 2401 | 2401 | 77 |
| Total Liabilities | 3604 | 4028 | 3894 | 3725 | 3253 | 1800 | 1618 | 1526 | 1333 | 1260 | 1184 |
| Fixed Assets | 461 | 433 | 1661 | 1567 | 1473 | 1378 | 1284 | 1190 | 1002 | 908 | 820 |
| Other Non-Current Assets | 309 | 1317 | 22 | 22 | 22 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 2834 | 2278 | 2211 | 2136 | 1757 | 422 | 335 | 336 | 331 | 352 | 364 |
| Total Assets | 3604 | 4028 | 3894 | 3725 | 3253 | 1800 | 1618 | 1526 | 1333 | 1260 | 1184 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 25 | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 7 | 2 | 2 |
| Cash Flow from Operating Activities | -379 | 1009 | 194 | 268 | 577 | 143 | 1 | 10 | -5 | -21 | -1227 |
| Cash Flow from Investing Activities | -113 | -1007 | -0 | -1 | 0 | 3 | 17 | -5 | 0 | 21 | 5 |
| Cash Flow from Financing Activities | 470 | -3 | -193 | -267 | -578 | -146 | -17 | -0 | -0 | -0 | 1223 |
| Net Cash Inflow / Outflow | -23 | -1 | 1 | -0 | -0 | -0 | 1 | 5 | -5 | 0 | 0 |
| Closing Cash & Cash Equivalent | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 7 | 2 | 2 | 3 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.62 | 0.73 | -25.7 | -86.8 | -81.81 | -119.37 | -39.31 | -11.43 | -16.49 | -16.57 | -16.05 |
| CEPS(Rs) | 2.74 | 5.98 | -11.85 | -70.02 | -65.2 | -102.78 | -22.66 | 5.16 | 0.09 | 0.06 | -0.36 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 171.41 | 172.53 | 139.77 | 51.91 | -29.9 | -161.3 | -197.69 | -209.92 | -243.17 | -256.07 | 158.47 |
| Core EBITDA Margin(%) | 11.3 | 11.35 | 15.98 | -28.82 | -470.41 | -1190.71 | -3577.62 | 0 | 0 | -1281.19 | -38.32 |
| EBIT Margin(%) | 10.28 | 10.17 | 10.73 | -66.91 | -598.26 | -1411.01 | -6737.11 | 0 | 0 | 0 | -1679.53 |
| Pre Tax Margin(%) | -0.38 | 0.2 | -6.82 | -184.52 | -598.8 | -1574.11 | -7288.4 | 0 | 0 | 0 | -1681.77 |
| PAT Margin (%) | -0.44 | 0.15 | -9.88 | -197.34 | -629.87 | -1610.93 | -7565.77 | 0 | 0 | 0 | -1681.77 |
| Cash Profit Margin (%) | 0.73 | 1.36 | -4.56 | -159.19 | -502 | -1387.08 | -4360.54 | 0 | 0 | 369.95 | -37.4 |
| ROA(%) | -0.26 | 0.09 | -3.67 | -12.88 | -13.26 | -26.72 | -13.01 | -4.11 | -6.52 | -7.23 | -7.43 |
| ROE(%) | -0.97 | 0.38 | -17.24 | -90.57 | -743.63 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | 8.56 | 8.68 | 5.32 | -5.36 | -15.84 | -29.03 | -13.63 | -7.27 | -8.27 | -10.92 | -10.37 |
| Receivable days | 439.21 | 394.37 | 541.47 | 3091.81 | 9408.13 | 9271.81 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 11.79 | 8.71 | 8.83 | 40.53 | 100.98 | 103.58 | 719.71 | 0 | 0 | 0 | 336.21 |
| Payable days | 148.35 | 133.03 | 198.14 | 780.69 | 2654.12 | 2469 | 2598.47 | 0 | 0 | 0 | 966.35 |
| PER(x) | 0 | 17.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0.04 | 0.07 | 0.08 | 0.1 | -0.1 | -0.01 | -0 | -0 | 0 | -0.02 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.9 | 0.84 | 1.68 | 11.26 | 37.25 | 58.79 | 842.39 | 0 | 0 | 0 | 10.42 |
| EV/Core EBITDA(x) | 7.78 | 7.34 | 10.43 | -38.53 | -7.85 | -4.95 | -23.85 | -1038.1 | 4479.54 | 6867.83 | -29.63 |
| Net Sales Growth(%) | 7.49 | 16.97 | -35.33 | -83.31 | -70.25 | -42.45 | -92.99 | -100 | 0 | 0 | 6087.27 |
| EBIT Growth(%) | 35.47 | 14.91 | -31.89 | -205.47 | -164.04 | -34.56 | 66.52 | 51.41 | 3.05 | -0.48 | 3.29 |
| PAT Growth(%) | -1074.5 | 140.16 | -4332.49 | -237.73 | 5.75 | -45.91 | 67.07 | 70.93 | -44.33 | -0.48 | 3.16 |
| EPS Growth(%) | -328.89 | 217.57 | -3637.2 | -237.73 | 5.75 | -45.91 | 67.07 | 70.93 | -44.33 | -0.48 | 3.16 |
| Debt/Equity(x) | 1.91 | 2.05 | 3.03 | 9.25 | -16.06 | -2.7 | -2.22 | -2.09 | -1.7 | -1.52 | 0.06 |
| Current Ratio(x) | 1.85 | 1.32 | 1.16 | 0.96 | 0.62 | 0.18 | 0.14 | 0.14 | 0.14 | 0.15 | 4.7 |
| Quick Ratio(x) | 1.81 | 1.3 | 1.14 | 0.95 | 0.61 | 0.17 | 0.14 | 0.14 | 0.14 | 0.14 | 4.63 |
| Interest Cover(x) | 0.96 | 1.02 | 0.61 | -0.57 | -1118.27 | -8.65 | -12.22 | 0 | 0 | 0 | -748.27 |
| Total Debt/Mcap(x) | 46.1 | 28.65 | 38.24 | 93.08 | 152.23 | 499.58 | 1151.06 | 508.61 | 0 | 95.84 | 0 |
| # | Sep 2021 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.27 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 90 | 90 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.88 | 0.88 | 0.88 | 0.88 | 1.77 | 1.77 | 1.77 | 1.77 | 0.18 | 0.18 |
| Public | 61.85 | 62.81 | 62.81 | 62.81 | 61.92 | 61.92 | 61.92 | 61.92 | 9.82 | 9.82 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.11 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 50.89 | 50.89 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.05 | 0.05 | 0.05 | 0.05 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Public | 3.5 | 3.55 | 3.55 | 3.55 | 3.5 | 3.5 | 3.5 | 3.5 | 5.55 | 5.55 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 56.54 | 56.54 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | -35% | -45% |
| Operating Profit CAGR | — | — | — | 0% |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +404% | +206% | +93% | +11% |
| ROE Average | 0% | 0% | 0% | -77% |
| ROCE Average | -10% | -10% | -10% | -7% |
| # | Sep 2021 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.27 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 36.31 | 90 | 90 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.88 | 0.88 | 0.88 | 0.88 | 1.77 | 1.77 | 1.77 | 1.77 | 0.18 | 0.18 |
| Public | 62.73 | 63.69 | 63.69 | 63.69 | 63.69 | 63.69 | 63.69 | 63.69 | 10 | 10 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.11 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 2.05 | 50.89 | 50.89 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.05 | 0.05 | 0.05 | 0.05 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Public | 3.55 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 5.65 | 5.65 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 5.65 | 56.54 | 56.54 |
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