TIKONA

Tikona Communication Limited

Telecom and communication equipment including cables and optical fiber systems

Telecommunication›Telecommunication›Telecom - Services›Other Telecom Services

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

Price as of 2026-10-16

Stock price
₹46.62
Market cap
142 Cr
Stock P/E
58.2
ROCE (FY26)
55.5%
Operating margin (FY26)
7.1%
OCF / EBITDA (FY26)
-73.8%

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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What you need to know

A small Indian listed company that earlier described itself as a bright steel bars maker and now reports as a telecom and communication equipment business (cables, optical fibre systems, networking hardware), under a new controlling shareholder and with plans to buy an enterprise internet-connectivity business.

Company snapshot

4thBy market cap

Ranked among 6 companies in Other Telecom Services.

What we see

Concerns
  • ✗Net margin is very thin at 1.7% — little room for error if costs rise.
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Statement tables · Standalone

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

Standalone only

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
Sales0 Cr0 Cr0.02 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr11 Cr20 Cr
Operating expenses (approx.)0.07 Cr0.07 Cr0.06 Cr0.12 Cr0.07 Cr0.05 Cr0.08 Cr0.04 Cr0.19 Cr0.10 Cr9 Cr17 Cr
EBITDA-0.07 Cr-0.07 Cr-0.05 Cr-0.12 Cr-0.07 Cr-0.05 Cr-0.08 Cr-0.04 Cr-0.19 Cr-0.10 Cr1 Cr2 Cr
OPM %——-301.3%———————10.2%11.3%
Other income0.02 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0.02 Cr0 Cr0 Cr0 Cr0 Cr0.03 Cr
Interest0.17 Cr0.09 Cr0.08 Cr0.09 Cr0.10 Cr0.10 Cr0.10 Cr0.10 Cr0.13 Cr0.13 Cr0.19 Cr0.14 Cr
Depreciation0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Profit before tax-0.22 Cr-0.16 Cr-0.13 Cr-0.21 Cr-0.16 Cr-0.15 Cr-0.16 Cr-0.15 Cr-0.32 Cr-0.24 Cr0.89 Cr2 Cr
Tax %0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net profit-0.22 Cr-0.16 Cr-0.13 Cr-0.21 Cr-0.16 Cr-0.15 Cr-0.16 Cr-0.15 Cr-0.32 Cr-0.24 Cr0.89 Cr2 Cr
EPS (₹)₹-0.07₹-0.05₹-0.04₹-0.07₹-0.05₹-0.05₹-0.05₹-0.05₹-0.11₹-0.08₹0.29₹0.69

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2 Cr13 Cr26 Cr7 Cr1 Cr0 Cr0.10 Cr0 Cr0 Cr11 CrSign in free for the trailing twelve months
Operating expenses (approx.)2 Cr15 Cr27 Cr7 Cr1 Cr0.20 Cr1 Cr0.20 Cr0.31 Cr10 CrSign in free for the trailing twelve months
EBITDA0.36 Cr-2 Cr-1 Cr-0.16 Cr-0.11 Cr-0.20 Cr-0.93 Cr-0.20 Cr-0.31 Cr0.74 CrSign in free for the trailing twelve months
OPM %14.7%-15.0%-4.2%-2.3%-10.6%—-922.7%——7.1%Sign in free for the trailing twelve months
Other income0.13 Cr0.06 Cr0.14 Cr0.49 Cr0 Cr0.02 Cr0.0035 Cr0.03 Cr0.02 Cr0 CrSign in free for the trailing twelve months
Interest0.19 Cr0.23 Cr0.26 Cr0.02 Cr0.0002 Cr0.0002 Cr0.17 Cr0.34 Cr0.39 Cr0.56 CrSign in free for the trailing twelve months
Depreciation0.16 Cr0.09 Cr0.08 Cr0.05 Cr0.03 Cr0.03 Cr0 Cr0 Cr0 Cr0 CrSign in free for the trailing twelve months
Profit before tax0.14 Cr-1 Cr-1 Cr0.25 Cr-0.15 Cr-0.21 Cr-1 Cr-0.51 Cr-0.68 Cr0.18 CrSign in free for the trailing twelve months
Tax %-370.8%96.3%-81.8%0.0%0.0%3.1%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Net profit0.64 Cr-0.05 Cr-2 Cr0.25 Cr-0.15 Cr-0.21 Cr-1 Cr-0.51 Cr-0.68 Cr0.18 CrSign in free for the trailing twelve months
EPS (₹)₹1.00₹0.00₹-2.24—₹-0.02₹0.04₹-0.09₹-0.17₹-0.22₹0.06Sign in free for the trailing twelve months
Dividend payout %—————————0.0%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 capital4 Cr4 Cr4 Cr0 Cr12 Cr12 Cr12 Cr12 Cr12 Cr12 Cr
Reserves-11 Cr-11 Cr-13 Cr0 Cr1 Cr1 Cr-17 Cr-17 Cr-18 Cr-18 Cr
Borrowings11 Cr9 Cr10 Cr———4 Cr5 Cr6 Cr7 Cr
Other liabilities5 Cr6 Cr5 Cr———0.07 Cr0.09 Cr0.06 Cr12 Cr
Total liabilities9 Cr9 Cr6 Cr———0.04 Cr0.03 Cr0.0054 Cr13 Cr
Fixed assets (net)4 Cr4 Cr4 Cr———0 Cr0 Cr0 Cr0 Cr
CWIP————————0 Cr0 Cr
Investments——————0 Cr0 Cr0 Cr0 Cr
Loans & advances——————0 Cr0.02 Cr0.0017 Cr0 Cr
Inventories4 Cr—0.31 Cr———0 Cr0 Cr0 Cr0.85 Cr
Trade receivables1 Cr4 Cr2 Cr———0 Cr0 Cr0 Cr12 Cr
Cash & bank0.01 Cr0.04 Cr0.02 Cr———0.0040 Cr0.0060 Cr0.0036 Cr0.10 Cr
Other assets0.15 Cr1 Cr0.40 Cr———0.04 Cr———
Total assets9 Cr9 Cr6 Cr———0.04 Cr0.03 Cr0.0054 Cr13 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 activity-2 Cr3 Cr-0.43 Cr—0.01 Cr-0.0045 Cr2 Cr0.0019 Cr-0.70 Cr-0.55 Cr
Cash from investing0.57 Cr0.04 Cr0 Cr—0 Cr0 Cr0.03 Cr0 Cr0 Cr0 Cr
Cash from financing2 Cr-3 Cr0.42 Cr—-0.0013 Cr0.0002 Cr-2 Cr0 Cr0.69 Cr0.65 Cr
Net cash flow0.0046 Cr0.03 Cr-0.0098 Cr—0.0092 Cr-0.0043 Cr-0.01 Cr0.0019 Cr-0.0023 Cr0.10 Cr
Free cash flow (OCF − Capex)-3 Cr3 Cr——0.01 Cr-0.0045 Cr2 Cr0.0019 Cr-0.70 Cr-0.55 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %————-1.1%-1.6%———55.5%
ROE %————-1.1%-1.5%————
Debtor days19611122———0——430
Inventory days1809—4———0——31
Days payable151315063———178——424
Cash conversion cycle491-39-37———-178——36
OCF / EBITDA %-644.4%————————-73.8%
OCF / EBITDA % (3 years)—————————n.m.
Debt / equity——————————
Current ratio1.230.700.45———0.00230.00570.00101.11
Net debt / EBITDA29.34————————9.00