Valiant Communications Ltd

₹ 773 -2.00%

07 Nov - close price

About

Incorporated in 1993, Valiant Communications Ltd manufactures communication equipment, primarily for power utilities / other utilities and provides allied services^[1]

Key Points

Business Overseas:^[1]
VCL is an ISO 9001:2015, ISO 10001:2018, ISO 14001:2015, ISO 27001:2013 and ISO 45001:2018 certified manufacturer of communication, transmission, protection, synchronization and cyber security equipment and solutions with installations in 110+ countries

Website BSE

Market Cap ₹ 885 Cr.
Current Price ₹ 773
High / Low ₹ 814 / 215
Stock P/E 66.7
Book Value ₹ 59.5
Dividend Yield 0.13 %
ROCE 23.5 %
ROE 17.7 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 108% CAGR over last 5 years

Cons

Stock is trading at 13.0 times its book value
Promoter holding has decreased over last quarter: -1.13%
Debtor days have increased from 89.6 to 142 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

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	7.58	8.76	8.78	9.53	10.83	12.20	13.15	13.60	12.68	8.09	16.02	18.12	20.06
	6.47	7.17	6.96	7.79	8.52	9.57	8.93	9.27	8.60	7.72	10.33	11.71	13.01
Operating Profit	1.11	1.59	1.82	1.74	2.31	2.63	4.22	4.33	4.08	0.37	5.69	6.41	7.05
OPM %	14.64%	18.15%	20.73%	18.26%	21.33%	21.56%	32.09%	31.84%	32.18%	4.57%	35.52%	35.38%	35.14%
	0.02	0.03	-0.01	0.10	0.01	0.09	0.10	0.29	0.36	0.33	0.21	0.26	0.37
Interest	0.01	0.01	0.03	0.04	0.04	0.04	0.04	0.05	0.04	0.05	0.07	0.04	0.05
Depreciation	0.52	0.48	0.61	0.54	0.55	0.56	0.62	0.61	0.66	0.66	0.69	0.67	0.70
Profit before tax	0.60	1.13	1.17	1.26	1.73	2.12	3.66	3.96	3.74	-0.01	5.14	5.96	6.67
Tax %	26.67%	26.55%	25.64%	25.40%	24.86%	25.47%	24.86%	26.26%	25.94%	100.00%	25.49%	25.34%	25.19%
	0.44	0.83	0.86	0.95	1.29	1.59	2.75	2.92	2.78	-0.01	3.83	4.46	4.99
EPS in Rs	0.41	0.77	0.80	0.88	1.19	1.47	2.41	2.56	2.44	-0.01	3.36	3.91	4.38
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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
	11	11	14	18	23	18	18	18	12	30	46	50	62
	11	11	12	16	19	17	17	16	15	26	35	36	43
Operating Profit	0	0	1	2	3	2	1	2	-3	5	11	14	20
OPM %	0%	1%	8%	12%	15%	10%	7%	10%	-22%	15%	24%	29%	31%
	1	1	1	1	0	0	0	1	1	0	0	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	2	2	2	2	2	2	2	2	2	3	3
Profit before tax	-0	-0	0	1	2	0	-0	1	-4	2	9	13	18
Tax %	-29%	-56%	32%	26%	28%	33%	-25%	24%	-25%	26%	25%	26%
	-0	-0	0	1	1	0	-0	1	-3	2	7	10	13
EPS in Rs	-0.19	-0.13	0.19	0.57	1.37	0.27	-0.19	0.66	-2.94	1.70	5.77	8.34	11.64
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	12%

Compounded Sales Growth
10 Years:	16%
5 Years:	23%
3 Years:	60%
TTM:	21%

Compounded Profit Growth
10 Years:	44%
5 Years:	108%
3 Years:	69%
TTM:	32%

Stock Price CAGR
10 Years:	31%
5 Years:	92%
3 Years:	89%
1 Year:	97%

Return on Equity
10 Years:	5%
5 Years:	8%
3 Years:	15%
Last Year:	18%

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	Sep 2025
Equity Capital	7	7	7	7	7	7	7	7	7	7	8	8	8
Reserves	21	21	21	22	23	23	23	24	21	23	41	51	60
	-0	-0	-0	-0	-0	-0	0	0	0	2	2	2	2
	1	1	2	2	3	3	3	2	3	5	4	8	11
Total Liabilities	30	29	31	31	33	33	33	33	31	36	55	69	81
	6	6	7	7	7	7	7	6	7	9	10	10	12
CWIP	-0	-0	-0	0	0	0	1	1	0	-0	-0	0	-0
Investments	3	2	2	2	2	2	2	3	2	2	2	2	2
	21	20	22	23	24	24	23	24	22	25	44	56	67
Total Assets	30	29	31	31	33	33	33	33	31	36	55	69	81

Cash Flows

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
	-1	2	-1	-3	3	2	2	1	-2	3	4	1
	-0	-1	-1	1	-5	1	-3	-0	-0	-4	-3	-14
	-0	-0	-0	-0	-0	-0	-0	-0	-0	2	12	-0
Net Cash Flow	-1	1	-2	-2	-1	3	-1	1	-2	1	14	-13

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	94	58	120	212	194	177	152	159	86	40	87	142
Inventory Days	581	531	505	341	201	350	417	397	919	441	249	340
Days Payable	40	21	100	58	58	64	59	27	124	67	18	76
Cash Conversion Cycle	634	568	524	495	336	464	510	529	881	415	318	405
Working Capital Days	399	343	333	340	255	305	294	318	438	194	171	223
ROCE %	-1%	-1%	1%	3%	7%	2%	-1%	2%	-15%	9%	22%	23%

Shareholding Pattern

Numbers in percentages

1 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Oct 2025
	46.37%	46.37%	45.52%	45.52%	43.11%	42.71%	41.83%	41.83%	41.83%	41.83%	40.81%	40.70%
	0.00%	0.00%	0.00%	0.00%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.85%	0.85%
	0.00%	0.00%	0.44%	0.98%	0.27%	0.20%	0.20%	0.00%	0.00%	0.60%	1.58%	1.58%
	53.60%	53.61%	54.03%	53.49%	56.46%	56.92%	57.80%	58.01%	58.01%	57.41%	56.75%	56.86%
No. of Shareholders	3,434	3,475	3,855	4,214	5,045	5,912	6,298	6,672	6,766	6,339	6,638	7,046

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Oct 2025
	42.14%	42.14%	43.19%	46.24%	46.29%	46.38%	46.37%	43.11%	41.83%	40.70%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.16%	0.85%
	0.05%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	1.58%
	57.81%	57.84%	56.81%	53.76%	53.71%	53.62%	53.60%	56.46%	58.01%	56.86%
No. of Shareholders	4,821	4,216	3,700	3,562	3,320	3,586	3,434	5,045	6,766	7,046

* 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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