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 58.8
Book Value ₹ 84.3
Dividend Yield 0.08 %
ROCE 39.7 %
ROE 30.6 %
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 166% CAGR over last 5 years
Debtor days have improved from 103 to 81.3 days.
Company's working capital requirements have reduced from 168 days to 114 days

Cons

Stock is trading at 14.4 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	9.36	9.66	11.10	12.27	13.31	13.66	12.72	8.36	16.12	18.32	20.17	22.14	24.24
	7.67	8.02	8.85	9.80	9.39	9.41	8.88	8.25	10.54	12.02	13.24	14.44	14.98
Operating Profit	1.69	1.64	2.25	2.47	3.92	4.25	3.84	0.11	5.58	6.30	6.93	7.70	9.26
OPM %	18.06%	16.98%	20.27%	20.13%	29.45%	31.11%	30.19%	1.32%	34.62%	34.39%	34.36%	34.78%	38.20%
	0.03	0.13	0.18	0.06	0.07	0.56	0.56	0.00	0.68	0.63	0.83	1.25	2.28
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	1.08	1.19	1.84	1.93	3.33	4.15	3.70	-0.60	5.50	6.22	7.01	8.19	10.71
Tax %	18.52%	25.21%	21.74%	29.02%	25.23%	24.82%	24.32%	-11.67%	23.27%	24.12%	24.82%	26.25%	24.00%
	0.88	0.89	1.43	1.38	2.49	3.12	2.80	-0.53	4.22	4.72	5.27	6.04	8.14
EPS in Rs	0.81	0.82	1.32	1.28	2.18	2.74	2.46	-0.46	3.70	4.14	4.62	5.28	7.11
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12	14	18	23	19	20	22	13	32	46	51	85
	12	13	16	20	17	19	20	16	27	36	37	55
Operating Profit	0	1	2	3	2	1	1	-3	4	10	14	30
OPM %	0%	8%	10%	14%	11%	6%	7%	-23%	14%	22%	27%	36%
	1	1	1	0	0	1	3	2	0	0	2	5
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	1	-0	2	-4	2	8	13	32
Tax %	-160%	30%	31%	34%	26%	-89%	24%	-27%	25%	25%	25%	25%
	0	0	1	1	0	0	2	-3	2	6	10	24
EPS in Rs	0.06	0.21	0.56	1.20	0.40	0.00	1.48	-2.44	1.56	5.45	8.43	21.13
Dividend Payout %	0%	0%	0%	0%	0%		0%	0%	0%	0%	12%	7%

Compounded Sales Growth
10 Years:	20%
5 Years:	31%
3 Years:	39%
TTM:	67%

Compounded Profit Growth
10 Years:	59%
5 Years:	166%
3 Years:	144%
TTM:	164%

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

Return on Equity
10 Years:	10%
5 Years:	15%
3 Years:	22%
Last Year:	31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	22	22	23	24	24	24	27	24	26	44	54	85
	0	0	0	0	0	0	0	0	2	2	2	3
	2	2	2	4	3	3	3	3	5	5	8	13
Total Liabilities	31	32	32	35	34	35	37	34	40	58	72	112
	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	1	1	1	0	0	2	4	0	1	2	2	6
	24	24	25	28	28	25	26	27	30	47	59	92
Total Assets	31	32	32	35	34	35	37	34	40	58	72	112

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	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	4	1	2	2	-4	3	3	1	32
	-0	-1	1	-4	1	-5	-0	4	-4	-3	-15	-28
	0	0	0	0	0	0	0	0	2	13	-0	11
Net Cash Flow	1	-2	-2	0	2	-3	1	-0	0	12	-14	15
Free Cash Flow	-0	-3	-4	2	0	0	-0	-6	-1	0	-3	26
CFO/OP	3,440%	-123%	-160%	142%	92%	223%	73%	122%	74%	48%	30%	133%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	72	132	213	187	171	144	129	83	43	86	142	81
Inventory Days	486	505	341	190	343	345	287	837	414	246	337	161
Days Payable	54	103	56	76	65	76	31	102	75	21	79	71
Cash Conversion Cycle	504	534	497	301	449	413	385	818	382	311	400	172
Working Capital Days	320	341	341	237	295	262	249	413	185	168	222	114
ROCE %	-1%	1%	3%	7%	2%	-1%	1%	-14%	7%	19%	21%	40%

Insights

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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)
% ・Standalone data

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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