Avantel Ltd
Avantel Limited is engaged in the business of designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications for its customers majorly from the aerospace and defence sectors. [1]
- Market Cap ₹ 4,626 Cr.
- Current Price ₹ 175
- High / Low ₹ 215 / 90.3
- Stock P/E 118
- Book Value ₹ 12.7
- Dividend Yield 0.11 %
- ROCE 37.0 %
- ROE 28.6 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 41.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.4%
- Company's median sales growth is 35.1% of last 10 years
Cons
- Stock is trading at 13.7 times its book value
* 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
Industrials Capital Goods Aerospace & Defense Aerospace & Defense
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 25 | 25 | 34 | 52 | 51 | 52 | 78 | 105 | 154 | 224 | 248 | 227 | |
11 | 21 | 21 | 30 | 40 | 36 | 37 | 56 | 77 | 105 | 140 | 153 | 157 | |
Operating Profit | 2 | 4 | 4 | 4 | 11 | 14 | 15 | 22 | 28 | 49 | 84 | 95 | 69 |
OPM % | 15% | 16% | 16% | 11% | 22% | 28% | 30% | 29% | 26% | 32% | 38% | 38% | 31% |
0 | 1 | 0 | 1 | 15 | 1 | 1 | 1 | 1 | 0 | 1 | 2 | 2 | |
Interest | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 5 | 4 | 3 | 4 |
Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 5 | 7 | 11 | 14 |
Profit before tax | -1 | 1 | 1 | 1 | 24 | 12 | 13 | 18 | 24 | 40 | 74 | 83 | 54 |
Tax % | -10% | 26% | 9% | 16% | 28% | 23% | 17% | 17% | 19% | 25% | 26% | 28% | |
-1 | 1 | 1 | 1 | 17 | 10 | 11 | 15 | 19 | 30 | 55 | 60 | 39 | |
EPS in Rs | -0.04 | 0.03 | 0.02 | 0.03 | 0.66 | 0.36 | 0.41 | 0.58 | 0.73 | 1.14 | 2.11 | 2.26 | 1.47 |
Dividend Payout % | 0% | 68% | 69% | 92% | 9% | 21% | 15% | 11% | 8% | 5% | 9% | 8% |
Compounded Sales Growth | |
---|---|
10 Years: | 26% |
5 Years: | 37% |
3 Years: | 33% |
TTM: | -1% |
Compounded Profit Growth | |
---|---|
10 Years: | 58% |
5 Years: | 41% |
3 Years: | 46% |
TTM: | -37% |
Stock Price CAGR | |
---|---|
10 Years: | 60% |
5 Years: | 95% |
3 Years: | 104% |
1 Year: | 3% |
Return on Equity | |
---|---|
10 Years: | 28% |
5 Years: | 31% |
3 Years: | 32% |
Last Year: | 29% |
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 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 16 | 49 | 49 | 53 |
Reserves | 17 | 16 | 16 | 17 | 33 | 39 | 48 | 62 | 80 | 96 | 123 | 199 | 285 |
11 | 9 | 9 | 10 | 0 | 0 | 0 | 3 | 16 | 30 | 18 | 26 | 31 | |
3 | 3 | 3 | 3 | 6 | 4 | 15 | 17 | 11 | 12 | 34 | 23 | 33 | |
Total Liabilities | 34 | 32 | 32 | 34 | 43 | 47 | 67 | 87 | 110 | 154 | 223 | 298 | 402 |
15 | 14 | 13 | 13 | 12 | 12 | 14 | 16 | 25 | 26 | 44 | 95 | 111 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 7 | 9 | 16 | 5 | 19 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 12 | 17 | 30 | 36 |
18 | 18 | 19 | 21 | 31 | 36 | 53 | 70 | 73 | 108 | 146 | 168 | 237 | |
Total Assets | 34 | 32 | 32 | 34 | 43 | 47 | 67 | 87 | 110 | 154 | 223 | 298 | 402 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-2 | 4 | 4 | 2 | 9 | 4 | 3 | 45 | -30 | 4 | 68 | 50 | |
-1 | 0 | -1 | -2 | 4 | -1 | 0 | -42 | 20 | -13 | -45 | -57 | |
2 | -4 | -2 | -0 | -12 | -4 | -3 | -3 | 9 | 8 | -23 | 8 | |
Net Cash Flow | -1 | 0 | 0 | -0 | 1 | -0 | 0 | 0 | -1 | 0 | 0 | 2 |
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 | 121 | 67 | 61 | 105 | 63 | 139 | 208 | 62 | 126 | 94 | 104 | 104 |
Inventory Days | 459 | 551 | 190 | 122 | 62 | 139 | 34 | 130 | 257 | 219 | 346 | |
Days Payable | 20 | 14 | 12 | 38 | 4 | 43 | 4 | 5 | 17 | 28 | 11 | |
Cash Conversion Cycle | 121 | 505 | 597 | 282 | 147 | 197 | 305 | 91 | 251 | 334 | 295 | 439 |
Working Capital Days | 245 | 122 | 115 | 74 | 101 | 154 | 217 | 24 | 162 | 158 | 140 | 184 |
ROCE % | 0% | 9% | 9% | 9% | 29% | 33% | 29% | 33% | 30% | 37% | 48% | 37% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Newspaper Publication of Un-audited Financial Results for Q2 and Half Year ended 2025-26
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - CARE monitoring report: Rs80.91 crore rights issue; proceeds used as disclosed; Rs42.69 crore unutilized in FDs.
- Un-Audited Financial Results For The Second Quarter And Half Year Ended September 30, 2025 2d
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Board Meeting Outcome for Q2 Results - FY 2025-26
2d - Q2/H1 FY25-26 results: H1 standalone net profit Rs.1080.20L; consolidated Rs.750.11L; ESOP cost Rs.324.97L.
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Announcement under Regulation 30 (LODR)-Credit Rating
10 Oct - CareEdge reaffirmed CARE A-/CARE A2+ on Rs.120Cr; assigned CARE A2+ on Rs.15Cr; outlook Stable, Oct 10, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Jun 2025TranscriptPPT
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May 2024TranscriptPPT
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May 2023TranscriptPPT
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May 2022TranscriptPPT
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May 2021TranscriptPPT
Avantel specialises in RF microwave
subsystems, digital radios, & satellite communication systems, & offers related software solutions & services.
It provides indigenous solutions in the area of:
-Satcom
-HF Systems
-Software Defined Radios
-Wind Profiler Radars
To diversify further, it is setting up Design, Development & Manufacturing of Antennas &
Connectors for Defence & Aerospace applications. [1]
The products developed by Avantel are used for Indian satellites communication (voice & data) for various platforms like ships, submarines, aircrafts & helicopters. [2]