Punjab Communications Ltd

₹ 49.4 -2.70%

12 Sep - close price

About

Incorporated in 1981, Punjab Communications Ltd (Puncom) is in the business of manufacturing of telecom product^[1]

Key Points

History^[1]
Co. was established in 1981 and promoted by the Punjab Govt. for enhancing the Electronics and Telecommunication industry in the region and got listed on Oct 1994. The co. has broadened its customer and product base through tie-ups with foreign companies including Huawei Technologies of China for the supply of DWDM equipment. Simultaneously, to improve the bottom line, the company went about developing its core markets of railways and power sector with its own products.

Website BSE

Market Cap ₹ 59.3 Cr.
Current Price ₹ 49.4
High / Low ₹ 71.0 / 40.8
Stock P/E 91.3
Book Value ₹ 23.7
Dividend Yield 0.00 %
ROCE -3.62 %
ROE -3.62 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter

Cons

Company has a low return on equity of -15.8% over last 3 years.
Contingent liabilities of Rs.52.0 Cr.
Company has high debtors of 205 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Telecommunication Telecommunication Telecom - Equipment & Accessories Telecom - Equipment & Accessories

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	1.62	3.28	2.35	3.35	3.13	2.92	3.12	5.88	3.21	5.54	3.55	4.92	6.67
	7.84	7.64	6.00	5.58	5.46	5.11	5.55	7.90	6.21	8.49	5.76	6.00	8.96
Operating Profit	-6.22	-4.36	-3.65	-2.23	-2.33	-2.19	-2.43	-2.02	-3.00	-2.95	-2.21	-1.08	-2.29
OPM %	-383.95%	-132.93%	-155.32%	-66.57%	-74.44%	-75.00%	-77.88%	-34.35%	-93.46%	-53.25%	-62.25%	-21.95%	-34.33%
	1.91	-5.11	1.84	2.45	-0.71	1.84	1.59	17.10	1.88	2.00	2.81	2.55	2.68
Interest	0.00	0.01	0.00	0.02	0.01	0.00	0.47	0.01	0.17	0.00	0.00	0.00	0.00
Depreciation	0.06	0.06	0.07	0.05	0.05	0.05	0.05	0.05	0.04	0.05	0.05	0.05	0.04
Profit before tax	-4.37	-9.54	-1.88	0.15	-3.10	-0.40	-1.36	15.02	-1.33	-1.00	0.55	1.42	0.35
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-4.36	-9.53	-1.88	0.15	-3.10	-0.40	-1.36	15.02	-1.34	-1.00	0.55	1.41	0.35
EPS in Rs	-3.63	-7.93	-1.56	0.12	-2.58	-0.33	-1.13	12.49	-1.11	-0.83	0.46	1.17	0.29
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	19.57	21.01	20.16	27.96	37.91	44.66	27.60	20.58	10.76	10.59	15.05	17.21	20.68
	36.60	39.09	39.25	42.72	50.82	55.94	47.53	40.57	31.57	27.07	24.15	26.63	29.21
Operating Profit	-17.03	-18.08	-19.09	-14.76	-12.91	-11.28	-19.93	-19.99	-20.81	-16.48	-9.10	-9.42	-8.53
OPM %	-87.02%	-86.05%	-94.69%	-52.79%	-34.05%	-25.26%	-72.21%	-97.13%	-193.40%	-155.62%	-60.47%	-54.74%	-41.25%
	11.37	8.36	8.93	9.06	8.80	9.46	9.01	8.48	7.91	1.13	19.95	9.24	10.04
Interest	0.13	0.15	0.09	0.06	0.11	0.34	0.07	0.04	0.03	0.04	0.50	0.00	0.00
Depreciation	0.52	0.39	0.22	0.53	0.61	0.55	0.44	0.35	0.29	0.23	0.20	0.20	0.19
Profit before tax	-6.31	-10.26	-10.47	-6.29	-4.83	-2.71	-11.43	-11.90	-13.22	-15.62	10.15	-0.38	1.32
Tax %	8.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-5.52%	0.00%	0.00%	0.00%
	-6.85	-10.26	-10.48	-6.29	-4.83	-2.70	-11.43	-11.90	-12.49	-15.62	10.15	-0.38	1.31
EPS in Rs	-5.70	-8.53	-8.72	-5.23	-4.02	-2.25	-9.51	-9.90	-10.39	-12.99	8.44	-0.32	1.09
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-9%
3 Years:	17%
TTM:	37%

Compounded Profit Growth
10 Years:	7%
5 Years:	14%
3 Years:	24%
TTM:	118%

Stock Price CAGR
10 Years:	-6%
5 Years:	7%
3 Years:	9%
1 Year:	-14%

Return on Equity
10 Years:	-13%
5 Years:	-21%
3 Years:	-16%
Last Year:	-4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	12.05	12.05	12.05	12.05	12.05	12.05	12.05	12.05	12.05	12.05	12.05	12.05
Reserves	92.33	82.07	71.59	65.35	61.53	58.58	46.22	35.08	22.36	6.59	16.78	16.50
	1.02	0.00	0.00	0.50	1.89	0.00	0.39	0.00	0.00	0.00	0.00	0.00
	43.91	42.56	52.63	58.15	57.90	77.33	76.27	76.83	77.22	74.65	67.49	52.32
Total Liabilities	149.31	136.68	136.27	136.05	133.37	147.96	134.93	123.96	111.63	93.29	96.32	80.87
	4.50	4.19	5.66	5.66	5.65	5.32	4.97	4.63	4.12	3.89	3.71	3.90
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	6.99	6.99	6.99	6.99	6.99	6.99	6.99	6.99	0.00	0.00
	144.81	132.49	123.62	123.40	120.73	135.65	122.97	112.34	100.52	82.41	92.61	76.97
Total Assets	149.31	136.68	136.27	136.05	133.37	147.96	134.93	123.96	111.63	93.29	96.32	80.87

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-16.56	-0.86	-12.03	-13.83	-4.93	-10.34	-4.78	-15.11	-22.97	-1.08	-9.39
	18.79	1.38	10.41	15.75	4.00	14.22	5.90	8.64	23.08	25.21	-9.78
	-1.14	-0.07	0.45	1.29	-2.21	0.33	-0.42	3.88	-0.04	-4.40	0.00
Net Cash Flow	1.10	0.44	-1.17	3.21	-3.13	4.21	0.70	-2.59	0.08	19.74	-19.17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	324.71	292.03	261.26	201.17	182.45	226.96	321.09	323.50	353.81	352.25	259.99	204.66
Inventory Days	737.56	723.93	723.92	697.89	480.62	407.15	538.64	629.67	2,113.82	1,268.59	1,038.75	129.75
Days Payable	763.12	553.25	568.95	478.95	316.73	297.62	381.05	537.64	1,645.34	1,098.87	914.89	616.42
Cash Conversion Cycle	299.16	462.71	416.22	420.12	346.34	336.49	478.69	415.53	822.28	521.96	383.85	-282.00
Working Capital Days	404.35	361.70	203.86	113.83	92.62	38.25	-39.67	-257.88	-752.73	-714.49	-495.48	-643.26
ROCE %	-5.68%	-8.45%	-11.26%	-7.84%	-6.18%	-3.24%	-17.57%	-22.42%	-32.38%	-32.61%	-9.35%	-3.62%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%
	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%
	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	23.68%	23.68%	23.69%	23.69%	23.68%	23.68%	23.92%	23.91%	23.92%	23.91%	23.91%	23.91%
No. of Shareholders	10,060	10,067	10,023	9,972	9,868	9,800	9,841	9,881	9,968	10,105	10,138	10,087

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%	71.28%
	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%	4.78%
	0.32%	0.32%	0.30%	0.30%	0.30%	0.25%	0.25%	0.02%	0.02%	0.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%
	23.62%	23.62%	23.64%	23.64%	23.64%	23.68%	23.69%	23.92%	23.91%	23.91%
No. of Shareholders	10,851	10,538	10,384	10,273	10,038	10,172	10,023	9,841	10,138	10,087

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Punjab Communications Ltd

Punjab Communications Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

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