Valiant Communications Ltd

₹ 1,215 0.88%

16 Jun - 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 ₹ 1,421 Cr.
Current Price ₹ 1,215
High / Low ₹ 1,304 / 440
Stock P/E 65.6
Book Value ₹ 78.8
Dividend Yield 0.08 %
ROCE 38.5 %
ROE 29.1 %
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 121% CAGR over last 5 years
Debtor days have improved from 103 to 81.9 days.
Company's working capital requirements have reduced from 162 days to 91.3 days

Cons

Stock is trading at 15.4 times its book value
Promoter holding has decreased over last quarter: -0.87%

* 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

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	8.78	9.53	10.83	12.20	13.15	13.60	12.68	8.09	16.02	18.12	20.06	21.94	23.99
	6.96	7.79	8.52	9.57	8.93	9.27	8.60	7.72	10.34	11.71	13.01	14.16	14.53
Operating Profit	1.82	1.74	2.31	2.63	4.22	4.33	4.08	0.37	5.68	6.41	7.05	7.78	9.46
OPM %	20.73%	18.26%	21.33%	21.56%	32.09%	31.84%	32.18%	4.57%	35.46%	35.38%	35.14%	35.46%	39.43%
	-0.01	0.10	0.01	0.09	0.10	0.29	0.36	0.33	0.21	0.26	0.37	0.44	0.56
Interest	0.03	0.04	0.04	0.04	0.04	0.05	0.04	0.05	0.07	0.04	0.05	0.04	0.05
Depreciation	0.61	0.54	0.55	0.56	0.62	0.61	0.66	0.66	0.69	0.67	0.70	0.72	0.78
Profit before tax	1.17	1.26	1.73	2.12	3.66	3.96	3.74	-0.01	5.13	5.96	6.67	7.46	9.19
Tax %	25.64%	25.40%	24.86%	25.47%	24.86%	26.26%	25.94%	100.00%	25.54%	25.34%	25.19%	25.74%	27.42%
	0.86	0.95	1.29	1.59	2.75	2.92	2.78	-0.01	3.82	4.46	4.99	5.54	6.67
EPS in Rs	0.80	0.88	1.19	1.47	2.41	2.56	2.44	-0.01	3.35	3.91	4.38	4.84	5.83
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Profit & Loss

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	Mar 2026
	11	14	18	23	18	18	18	12	30	46	50	84
	11	12	16	19	17	17	16	15	26	35	36	53
Operating Profit	0	1	2	3	2	1	2	-3	5	11	14	31
OPM %	1%	8%	12%	15%	10%	7%	10%	-22%	15%	24%	29%	37%
	1	1	1	0	0	0	1	1	0	0	1	2
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	2	2	2	2	2	2	2	2	2	3	3
Profit before tax	-0	0	1	2	0	-0	1	-4	2	9	13	29
Tax %	-56%	32%	26%	28%	33%	-25%	24%	-25%	26%	25%	26%	26%
	-0	0	1	1	0	-0	1	-3	2	7	10	22
EPS in Rs	-0.13	0.19	0.57	1.37	0.27	-0.19	0.66	-2.94	1.70	5.77	8.34	18.93
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	12%	8%

Compounded Sales Growth
10 Years:	20%
5 Years:	36%
3 Years:	41%
TTM:	67%

Compounded Profit Growth
10 Years:	59%
5 Years:	121%
3 Years:	128%
TTM:	128%

Stock Price CAGR
10 Years:	37%
5 Years:	102%
3 Years:	118%
1 Year:	162%

Return on Equity
10 Years:	10%
5 Years:	16%
3 Years:	23%
Last Year:	29%

Balance Sheet

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	Mar 2026
Equity Capital	7	7	7	7	7	7	7	7	7	8	8	11
Reserves	21	21	22	23	23	23	24	21	23	41	51	79
	-0	-0	-0	-0	-0	0	0	0	2	2	2	3
	1	2	2	3	3	3	2	3	5	4	8	12
Total Liabilities	29	31	31	33	33	33	33	31	36	55	69	105
	6	7	7	7	7	7	6	7	9	10	10	14
CWIP	-0	-0	0	0	0	1	1	0	-0	-0	0	0
Investments	2	2	2	2	2	2	3	2	2	2	2	2
	20	22	23	24	24	23	24	22	25	44	56	89
Total Assets	29	31	31	33	33	33	33	31	36	55	69	105

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	Mar 2026
	2	-1	-3	3	2	2	1	-2	3	4	1	32
	-1	-1	1	-5	1	-3	-0	-0	-4	-3	-14	-28
	-0	-0	-0	-0	-0	-0	-0	-0	2	12	-0	11
Net Cash Flow	1	-2	-2	-1	3	-1	1	-2	1	14	-13	15
Free Cash Flow	0	-3	-4	1	1	0	-1	-4	-1	1	-2	26
CFO/OP	1,492%	-64%	-126%	114%	127%	184%	23%	77%	64%	51%	33%	130%

Ratios

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	Mar 2026
Debtor Days	58	120	212	194	177	152	159	86	40	87	142	82
Inventory Days	531	505	341	201	350	417	397	919	441	249	340	163
Days Payable	21	100	58	58	64	59	27	124	67	18	76	68
Cash Conversion Cycle	568	524	495	336	464	510	529	881	415	318	405	176
Working Capital Days	343	333	340	255	305	294	318	438	194	171	223	91
ROCE %	-1%	1%	3%	7%	2%	-1%	2%	-15%	9%	22%	23%	38%

Insights

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Mar 2015

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Export Revenue Contribution (Percentage of Total Revenue)
%

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Market Reach (Number of Countries with Installations)
Count

R&D Expenditure as percentage of Total Revenue
%

Global Power Sub-stations Installed Base
Count

Gross Order Book (Estimated/Confirmed)
INR Lacs

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	May 2026
	45.52%	45.52%	43.11%	42.71%	41.83%	41.83%	41.83%	41.83%	40.81%	40.62%	40.62%	39.75%
	0.00%	0.00%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.85%	0.85%	0.98%	0.96%
	0.44%	0.98%	0.27%	0.20%	0.20%	0.00%	0.00%	0.60%	1.58%	1.58%	1.58%	3.27%
	54.03%	53.49%	56.46%	56.92%	57.80%	58.01%	58.01%	57.41%	56.75%	56.95%	56.81%	56.01%
No. of Shareholders	3,855	4,214	5,045	5,912	6,298	6,672	6,766	6,339	6,638	7,347	7,950	8,323

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	May 2026
	42.14%	42.14%	43.19%	46.24%	46.29%	46.38%	46.37%	43.11%	41.83%	40.62%	39.75%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.16%	0.98%	0.96%
	0.05%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	1.58%	3.27%
	57.81%	57.84%	56.81%	53.76%	53.71%	53.62%	53.60%	56.46%	58.01%	56.81%	56.01%
No. of Shareholders	4,821	4,216	3,700	3,562	3,320	3,586	3,434	5,045	6,766	7,950	8,323

* 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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