Tata Communications Ltd

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Tata Communications Ltd

₹ 1,780 -0.64%
18 Sep - close price
tatacommunications.com BSE: 500483 NSE: TATACOMM
About

Tata Communications was incorporated on March 19, 1986 as VSNL. In February 2002, the Government of India, as per their disinvestments plan, sold 25% of their holding in the company to the strategic partner. Consequently, the company was taken over under the administrative control of TATA. [1] It is the leading global digital ecosystem enabler. It has a leadership position in emerging markets, and an infrastructure that spans the globe. It delivers managed solutions to multinational companies and service providers. It partners with 300 of the Fortune 500 companies with their state-of the-art solutions, including a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data center services. [2]

Key Points

Overview & History[1]
The company was incorporated in 1986, as VSNL (a wholly owned government entity). TATA group acquired 50% stake in the company in 2002 and changed its name to TCL in 2008. In FY21, GoI exited the company. As of FY26, Tata Grp holds a 58.86% stake through:
a) ⁠Panatone Finvest: 44.80%
b) Tata Sons: 14.07%[2]

Website BSE NSE
  • Market Cap ₹ 50,748 Cr.
  • Current Price ₹ 1,780
  • High / Low ₹ 2,110 / 1,322
  • Stock P/E 48.8
  • Book Value ₹ 121
  • Dividend Yield 0.98 %
  • ROCE 14.6 %
  • ROE 32.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 47.5%
  • Company has been maintaining a healthy dividend payout of 45.9%

Cons

  • Stock is trading at 14.7 times its book value
  • The company has delivered a poor sales growth of 7.72% over past five years.
  • Contingent liabilities of Rs.18,056 Cr.
  • Company might be capitalizing the interest cost

* 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 - Services Telecom - Cellular & Fixed line services

Part of BSE 500 BSE 200 BSE Dollex 200 BSE Teck Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
4,771 4,872 5,588 5,645 5,592 5,728 5,798 5,990 5,960 6,100 6,189 6,554 6,583
3,747 3,857 4,435 4,569 4,456 4,598 4,617 4,868 4,823 4,926 4,961 5,270 5,353
Operating Profit 1,024 1,015 1,153 1,076 1,137 1,129 1,181 1,122 1,137 1,174 1,228 1,284 1,230
OPM % 21% 21% 21% 19% 20% 20% 20% 19% 19% 19% 20% 20% 19%
191 25 -212 -32 85 29 -7 926 -46 -38 183 63 -93
Interest 131 137 184 186 170 189 187 182 177 202 201 182 186
Depreciation 580 605 603 651 634 648 637 672 666 679 751 731 739
Profit before tax 504 298 154 207 417 321 350 1,193 249 255 458 434 211
Tax % 26% 26% 74% -52% 21% 30% 36% 15% 26% 32% 22% 42% 41%
382 221 45 322 333 227 236 1,041 190 183 364 259 130
EPS in Rs 13.39 7.74 1.57 11.27 11.68 7.97 8.28 36.50 6.67 6.42 12.82 9.24 4.71
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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 TTM
19,913 18,149 17,620 16,772 16,525 17,068 17,100 16,725 17,838 20,969 23,109 24,803 25,426
16,919 15,714 15,214 14,359 13,780 13,779 12,840 12,498 13,520 16,739 18,540 19,980 20,510
Operating Profit 2,994 2,434 2,406 2,412 2,745 3,289 4,261 4,227 4,318 4,230 4,569 4,822 4,916
OPM % 15% 13% 14% 14% 17% 19% 25% 25% 24% 20% 20% 19% 19%
291 82 1,294 -116 62 -321 82 338 440 47 1,033 162 114
Interest 751 409 367 344 397 471 420 360 432 644 729 762 771
Depreciation 2,161 1,864 1,866 1,906 2,068 2,358 2,314 2,205 2,262 2,470 2,592 2,827 2,900
Profit before tax 373 243 1,467 46 343 140 1,609 2,000 2,063 1,163 2,281 1,396 1,358
Tax % 99% 96% 16% 778% 80% 162% 22% 26% 14% 18% 21% 31%
3 10 1,235 -326 -80 -85 1,252 1,485 1,801 970 1,837 997 936
EPS in Rs 0.05 0.30 43.26 -11.53 -2.89 -3.02 43.88 51.99 63.02 33.98 64.43 35.14 33.19
Dividend Payout % 12,151% 1,412% 14% -39% -156% -133% 32% 40% 33% 49% 39% 50%
Compounded Sales Growth
10 Years: 3%
5 Years: 8%
3 Years: 12%
TTM: 8%
Compounded Profit Growth
10 Years: 49%
5 Years: -4%
3 Years: -15%
TTM: 0%
Stock Price CAGR
10 Years: 18%
5 Years: 5%
3 Years: -2%
1 Year: 6%
Return on Equity
10 Years: %
5 Years: 74%
3 Years: 48%
Last Year: 33%

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 285 285 285 285 285 285 285 285 285 285 285 285
Reserves 36 -648 1,307 214 -467 -1,563 -170 643 1,233 1,501 2,736 3,162
13,076 14,231 9,214 8,927 9,935 12,413 11,394 9,122 8,577 11,263 12,357 12,249
10,798 11,230 10,228 10,131 10,198 10,996 9,797 9,588 10,424 11,316 11,065 12,591
Total Liabilities 24,195 25,098 21,033 19,557 19,951 22,131 21,306 19,638 20,519 24,365 26,444 28,287
14,704 14,444 10,929 10,797 11,289 12,768 11,520 10,936 10,500 13,467 13,919 15,481
CWIP 638 800 751 520 361 349 493 852 1,148 1,327 1,100 850
Investments 1,768 1,837 2,434 1,250 1,491 1,563 2,233 1,565 1,951 1,608 2,714 2,297
7,086 8,017 6,920 6,990 6,809 7,451 7,060 6,284 6,921 7,963 8,711 9,659
Total Assets 24,195 25,098 21,033 19,557 19,951 22,131 21,306 19,638 20,519 24,365 26,444 28,287

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
3,028 2,363 2,394 1,713 1,844 2,525 3,180 4,204 4,384 3,182 2,911 4,479
-1,908 -2,313 940 -500 -2,284 -1,521 -2,007 -894 -1,836 -2,641 -2,173 -1,434
-1,388 -9 -3,276 -959 -28 -942 -1,205 -3,431 -2,241 -813 -936 -2,937
Net Cash Flow -268 41 58 254 -467 61 -32 -121 308 -272 -198 108
Free Cash Flow 1,257 334 598 102 106 844 1,828 2,554 2,899 1,110 711 2,060
CFO/OP 105% 114% 130% 82% 88% 85% 86% 97% 106% 80% 82% 108%

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 46 61 54 64 66 69 56 56 56 65 63 61
Inventory Days
Days Payable
Cash Conversion Cycle 46 61 54 64 66 69 56 56 56 65 63 61
Working Capital Days -155 -139 -105 -125 -124 -150 -88 -103 -119 -151 -107 -120
ROCE % 8% 7% 23% 8% 8% 9% 18% 22% 24% 18% 15% 15%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Data Revenue as % of Total Revenue
%

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Digital Revenue as % of Data Revenue
%
Total Million Dollar Club (MDC) Customers
count
Net Promoter Score (NPS) - Global
score
Subsea Fibre Network
km
Terrestrial Fibre Network
km
$10 Million+ Customers
count
Order Book Growth (YoY)
%

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86% 58.86%
17.53% 19.20% 18.24% 18.09% 18.06% 17.80% 16.99% 17.17% 13.61% 14.46% 14.44% 13.75%
13.55% 12.12% 13.14% 13.15% 13.45% 13.66% 14.51% 14.83% 19.03% 18.49% 19.14% 19.85%
10.06% 9.81% 9.77% 9.91% 9.62% 9.68% 9.63% 9.14% 8.50% 8.19% 7.56% 7.53%
No. of Shareholders 1,85,9761,95,6981,93,1572,03,4171,85,0241,90,3451,91,7411,91,4991,86,9481,82,1231,75,9461,72,357

* 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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Documents

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