Avantel Ltd

₹ 190 -6.54%

13 Oct - close price

About

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]

Key Points

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]

Website BSE NSE

Market Cap ₹ 5,047 Cr.
Current Price ₹ 190
High / Low ₹ 215 / 90.3
Stock P/E 89.4
Book Value ₹ 9.36
Dividend Yield 0.10 %
ROCE 37.0 %
ROE 28.6 %
Face Value ₹ 2.00

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Pros

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 20.4 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

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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
	26.99	36.23	38.68	52.38	68.90	54.20	59.10	41.71	51.65	77.25	70.44	49.14	51.84
	19.10	25.55	26.78	33.44	54.06	28.69	34.07	22.68	36.88	41.98	37.65	36.59	40.49
Operating Profit	7.89	10.68	11.90	18.94	14.84	25.51	25.03	19.03	14.77	35.27	32.79	12.55	11.35
OPM %	29.23%	29.48%	30.77%	36.16%	21.54%	47.07%	42.35%	45.62%	28.60%	45.66%	46.55%	25.54%	21.89%
	0.12	0.06	0.28	0.09	0.13	0.37	0.34	0.46	0.30	0.49	0.49	0.48	0.05
Interest	0.68	1.13	1.55	1.51	1.49	1.51	0.87	0.30	0.64	0.72	1.02	0.66	0.80
Depreciation	1.23	1.22	1.35	1.36	1.40	1.54	1.75	2.37	2.77	2.87	2.95	2.80	3.90
Profit before tax	6.10	8.39	9.28	16.16	12.08	22.83	22.75	16.82	11.66	32.17	29.31	9.57	6.70
Tax %	17.54%	17.52%	18.64%	34.84%	28.06%	26.85%	25.36%	22.18%	30.70%	26.73%	28.66%	23.09%	31.04%
	5.03	6.92	7.55	10.54	8.69	16.71	16.97	13.08	8.08	23.57	20.90	7.36	4.62
EPS in Rs	0.19	0.26	0.29	0.40	0.33	0.63	0.64	0.50	0.31	0.89	0.79	0.28	0.17
Raw PDF

Upcoming result date: 18 October 2025

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	249
	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	92
OPM %	15%	16%	16%	11%	22%	28%	30%	29%	26%	32%	38%	38%	37%
	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	3
Depreciation	2	2	2	2	2	2	3	3	4	5	7	11	13
Profit before tax	-1	1	1	1	24	12	13	18	24	40	74	83	78
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	56
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	2.13
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:	20%

Compounded Profit Growth
10 Years:	58%
5 Years:	41%
3 Years:	46%
TTM:	3%

Stock Price CAGR
10 Years:	61%
5 Years:	102%
3 Years:	113%
1 Year:	14%

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
Equity Capital	4	4	4	4	4	4	4	4	4	16	49	49
Reserves	17	16	16	17	33	39	48	62	80	96	123	199
	11	9	9	10	0	0	0	3	16	30	18	26
	3	3	3	3	6	4	15	17	11	12	34	23
Total Liabilities	34	32	32	34	43	47	67	87	110	154	223	298
	15	14	13	13	12	12	14	16	25	26	44	95
CWIP	0	0	0	0	0	0	0	1	7	9	16	5
Investments	0	0	0	0	0	0	0	0	5	12	17	30
	18	18	19	21	31	36	53	70	73	108	146	168
Total Assets	34	32	32	34	43	47	67	87	110	154	223	298

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%

Shareholding Pattern

Numbers in percentages

10 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	40.14%	40.14%	40.10%	40.10%	40.10%	40.06%	40.06%	40.06%	38.58%	38.57%	37.15%	37.15%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.11%	0.18%	0.48%	0.47%	0.66%
	0.00%	0.00%	0.03%	0.01%	0.01%	0.00%	0.36%	0.65%	0.92%	0.43%	0.18%	0.16%
	59.87%	59.86%	59.88%	59.89%	59.89%	59.94%	59.56%	59.18%	60.33%	60.52%	62.20%	62.03%
No. of Shareholders	16,121	16,428	21,614	47,135	82,759	98,052	1,49,081	1,94,783	2,04,932	2,08,381	2,21,646	2,09,275

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	37.47%	36.30%	38.26%	40.87%	40.36%	40.14%	40.14%	40.06%	38.57%	37.15%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.48%	0.66%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.43%	0.16%
	62.53%	63.68%	61.74%	59.13%	59.64%	59.86%	59.86%	59.94%	60.52%	62.03%
No. of Shareholders	3,978	5,028	4,846	4,555	6,410	8,004	16,428	98,052	2,08,381	2,09,275

* 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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