NELCO

NELCO Limited

NELCO Limited (NELCO) financial statements and selected valuation metrics through 30 June 2026.

Information Technology›Information Technology›IT - Hardware›Computers Hardware & Equipments

nelco.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹824.55
Market cap
1,882 Cr
Stock P/E
487.5
P/B
14.61
Dividend yield
0.1%
ROE (FY26)
2.6%
ROCE (FY26)
5.0%
Operating margin (FY26)
2.8%
Debt / equity (FY26)
0.46
OCF / EBITDA (FY26)
53.4%
OCF / EBITDA (3Y)
61.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

NELCO (Nelco Limited) sells satellite-based data connectivity, mainly VSAT (very small aperture terminal) services and the hardware to go with them, to business and government customers in India, and it is a Tata group company.

Company snapshot

4thBy market cap

Ranked among 13 companies in Computers Hardware & Equipments.

Segment mix

Reportable segments as of 2019-03-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Automation & Control
1.9%
4 Cr-3 Cr—
Network Systems
98.1%
187 Cr41 Cr—

What we see

Positives
  • ✓Dividend payout of 67% — the company returns a meaningful share of profits to shareholders.
Concerns
  • ✗Net margin is very thin at 1.1% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales77 Cr83 Cr82 Cr74 Cr83 Cr81 Cr68 Cr75 Cr74 Cr78 Cr79 Cr80 Cr
Operating expenses (approx.)63 Cr67 Cr67 Cr62 Cr72 Cr69 Cr61 Cr67 Cr67 Cr70 Cr74 Cr72 Cr
EBITDA14 Cr16 Cr15 Cr12 Cr11 Cr12 Cr7 Cr8 Cr7 Cr8 Cr6 Cr8 Cr
OPM %18.1%19.6%18.0%16.6%13.1%15.1%9.8%10.3%10.0%10.0%7.0%10.4%
Other income0.41 Cr0.84 Cr0.73 Cr0.11 Cr0.91 Cr2 Cr3 Cr0.57 Cr1 Cr0.58 Cr2 Cr0.14 Cr
Interest2 Cr2 Cr1 Cr1 Cr1 Cr2 Cr2 Cr1 Cr2 Cr1 Cr0.73 Cr1 Cr
Depreciation5 Cr6 Cr6 Cr5 Cr5 Cr5 Cr6 Cr5 Cr5 Cr5 Cr5 Cr5 Cr
Profit before tax8 Cr10 Cr8 Cr6 Cr5 Cr7 Cr1 Cr2 Cr2 Cr-2 Cr2 Cr3 Cr
Tax %24.6%36.5%25.7%25.4%24.6%29.1%461.1%25.0%25.3%31.2%37.7%25.2%
Net profit6 Cr6 Cr6 Cr5 Cr4 Cr5 Cr-4 Cr2 Cr2 Cr-1 Cr1 Cr2 Cr
EPS (₹)₹2.49₹2.69₹2.67₹2.00₹1.80₹2.17₹-1.79₹0.79₹0.71₹-0.52₹0.48₹1.02

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales144 Cr150 Cr191 Cr220 Cr226 Cr260 Cr313 Cr320 Cr305 Cr307 CrSign in free for the trailing twelve months
Operating expenses (approx.)125 Cr124 Cr155 Cr170 Cr181 Cr209 Cr253 Cr261 Cr263 Cr278 CrSign in free for the trailing twelve months
EBITDA18 Cr25 Cr36 Cr50 Cr45 Cr51 Cr61 Cr59 Cr42 Cr29 CrSign in free for the trailing twelve months
OPM %12.8%16.8%18.8%22.6%19.8%19.4%19.4%18.5%13.8%9.3%Sign in free for the trailing twelve months
Other income5 Cr5 Cr4 Cr3 Cr3 Cr5 Cr3 Cr2 Cr5 Cr4 CrSign in free for the trailing twelve months
Interest9 Cr6 Cr7 Cr13 Cr10 Cr8 Cr8 Cr7 Cr6 Cr5 CrSign in free for the trailing twelve months
Depreciation8 Cr9 Cr13 Cr20 Cr22 Cr25 Cr28 Cr22 Cr22 Cr20 CrSign in free for the trailing twelve months
Profit before tax7 Cr15 Cr20 Cr20 Cr16 Cr23 Cr28 Cr34 Cr20 Cr5 CrSign in free for the trailing twelve months
Tax %9.4%20.4%-11.3%29.0%22.2%30.5%28.6%29.4%51.5%27.7%Sign in free for the trailing twelve months
Net profit6 Cr12 Cr22 Cr14 Cr12 Cr16 Cr20 Cr24 Cr10 Cr3 CrSign in free for the trailing twelve months
EPS (₹)₹2.75₹5.31₹9.77₹6.30₹5.42₹7.05₹8.70₹10.37₹4.18₹1.45Sign in free for the trailing twelve months
Dividend payout %————22.0%16.9%20.5%19.1%50.6%67.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital23 Cr23 Cr23 Cr23 Cr23 Cr23 Cr23 Cr23 Cr23 Cr23 Cr
Reserves-0.95 Cr11 Cr33 Cr43 Cr53 Cr66 Cr82 Cr101 Cr105 Cr106 Cr
Borrowings54 Cr46 Cr68 Cr98 Cr52 Cr55 Cr38 Cr33 Cr38 Cr59 Cr
Other liabilities55 Cr82 Cr114 Cr116 Cr118 Cr120 Cr120 Cr125 Cr122 Cr160 Cr
Total liabilities131 Cr162 Cr237 Cr280 Cr246 Cr263 Cr262 Cr282 Cr287 Cr347 Cr
Fixed assets (net)34 Cr49 Cr85 Cr115 Cr106 Cr106 Cr91 Cr83 Cr74 Cr72 Cr
CWIP3 Cr5 Cr17 Cr3 Cr4 Cr3 Cr1 Cr10 Cr9 Cr41 Cr
Investments5 Cr6 Cr0.16 Cr0.16 Cr0.16 Cr0.16 Cr0.22 Cr4 Cr4 Cr4 Cr
Loans & advances——1 Cr1 Cr0.60 Cr0.07 Cr0 Cr0.04 Cr0.21 Cr0.09 Cr
Inventories9 Cr9 Cr8 Cr11 Cr11 Cr16 Cr21 Cr26 Cr31 Cr36 Cr
Trade receivables34 Cr55 Cr60 Cr70 Cr58 Cr78 Cr83 Cr85 Cr107 Cr104 Cr
Cash & bank3 Cr4 Cr5 Cr13 Cr9 Cr16 Cr16 Cr22 Cr14 Cr19 Cr
Other assets42 Cr35 Cr61 Cr66 Cr57 Cr45 Cr50 Cr53 Cr50 Cr70 Cr
Total assets131 Cr162 Cr237 Cr280 Cr246 Cr263 Cr262 Cr282 Cr287 Cr347 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity38 Cr32 Cr21 Cr33 Cr54 Cr49 Cr58 Cr45 Cr20 Cr15 Cr
Cash from investing-3 Cr-14 Cr-45 Cr-40 Cr-8 Cr-16 Cr-25 Cr-19 Cr-17 Cr-21 Cr
Cash from financing-40 Cr-12 Cr25 Cr4 Cr-47 Cr-20 Cr-33 Cr-20 Cr-11 Cr11 Cr
Net cash flow-5 Cr6 Cr2 Cr-2 Cr-0.63 Cr14 Cr0.51 Cr6 Cr-8 Cr6 Cr
Free cash flow (OCF − Capex)22 Cr11 Cr-32 Cr-15 Cr45 Cr31 Cr35 Cr29 Cr3 Cr-8 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.3%26.5%22.1%20.4%19.8%21.4%24.9%25.6%15.2%5.0%
ROE %28.7%35.9%39.9%21.8%16.3%18.1%19.0%19.2%7.5%2.6%
Debtor days85133114117941099697127123
Inventory days23221517182225293743
Days payable60796963567552405649
Cash conversion cycle4876607156566886108117
OCF / EBITDA %205.6%127.9%59.0%66.6%120.3%97.7%95.6%75.6%47.3%53.4%
OCF / EBITDA % (3 years)——114.7%78.0%82.9%94.0%103.4%89.3%75.8%61.6%
Debt / equity2.471.361.221.490.690.610.360.270.300.46
Current ratio0.590.650.670.710.750.931.201.091.100.88
Net debt / EBITDA2.761.671.731.710.970.770.360.190.571.38