AVANTEL

Avantel share price & financials

Price
₹179.92
Market cap
₹4.2k Cr
Sector
Capital Goods
Calls analysed
6
Latest concall · Q4 FY26 · call held 24 Jun 2026

Avantel Limited Q4 FY26

Revenue ₹221.35 cr −11%Net Profit ₹22.49 cr −63%

What went well

  • Order book of ₹1,000 crores provides strong revenue visibility for the next 3 years, a first for the company.
  • Management confidently projects a 25% CAGR for revenue over the next 3-5 years.
  • Significant R&D investments (₹7 crores increase) and capital expenditure (₹7 crores increase) in FY26 are expected to drive future growth and product development.

What to watch

  • Revenue declined from ₹248.48 crores in FY25 to ₹221.35 crores in FY26, a decrease of ₹27.13 crores.
  • Net profit declined from ₹59.9 crores in FY25 to ₹22.49 crores in FY26, a decrease of ₹37.42 crores.
Read the full call →

What Avantel Limited does

Avantel designs, develops and manufactures satellite communication systems, software-defined radios (SDRs) and radar systems primarily for India's defence forces, including the Army, Navy and Air Force. Its product range includes HF and UHF software-defined radios, sat phones, convoy management systems, video receivers and Satcom-on-the-move terminals, developed in-house and through iDEX (Innovation for Defence Excellence) projects awarded by the Ministry of Defence. The company runs dedicated R&D, integration and manufacturing facilities across Visakhapatnam and Hyderabad, including an Assembly Integration Test (AIT) facility for satellite manufacturing, and is expanding into VSAT services and antenna manufacturing. It has also diversified into medical electronics through its IMAX division, applying its embedded-firmware and electronics-manufacturing expertise to a new line of medical equipment.

Segments

  • Defence & Satellite Communication
  • IMAX (Medical Equipment)
Manufacturing & R&D facilities
4 (Visakhapatnam Unit-1, Hyderabad Unit-2, Hyderabad ECT facility with AIT for satellite manufacturing, new antenna plant near Vijayawada)
Active iDEX defence projects underway
5
Quality certifications
AS 9100D (aerospace) and ISO 9001:2015
Core end customers
Indian Army, Indian Navy, Indian Air Force, ISTRAC
Key product/technology lines
HF & UHF software-defined radios, satellite communication terminals (sat phones, convoy management systems, video receivers, Satcom-on-the-move), wind profile radars, VSAT services
IMAX medical-equipment products awaiting certification
5
Founded 1990Headquarters Visakhapatnam, Andhra Pradesh Company website

Guidance record · Q4 FY26

what the last two calls moved 16 tracked 3 delivered 4 missed 9 open
  • Revenue delivered said Q4 FY21 Promised: over ₹100 crores for FY22 and FY23 Q4 FY26: The promise was previously achieved and not discussed.
  • NSE Listing missed said Q4 FY22 Promised: by 2024 Q4 FY26: The topic was not addressed and the deadline of 2024 has long passed.
  • New Facility Operationalization delayed said Q4 FY22 Promised: operational by November or December 2023 Q4 FY26: The new Vijayawada facility, related to the rights issue, is now expected to be inaugurated in September 2026, representing another significant delay from original timelines.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 35.7%, net profit up 66.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue77 71 49 52 55 −28%52 −27%64 +30%70 +36%
EBITDA35 32 12 10 11 −67%13 −61%14 +17%17 +67%
Net profit23 20 6 3 4 −81%3 −86%5 −22%5 +67%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −7.8% 1Y

₹120₹140₹160₹180₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q4 FY26 — 24 Jun 2026

1Y: ₹169.66 on 10 Sept 2025 → ₹156.46. High ₹211.66 (6 Oct 2025), low ₹118.29 (23 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
−1.1%
24 Jun

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 13.0% a year over 3 years, FY23 to FY26. Operating margin narrowed to 21.5%.

Year endingFY23FY24FY25FY26
Revenue₹154 Cr₹224 Cr₹249 Cr₹223 Cr
Operating profit₹47 Cr₹82 Cr₹93 Cr₹48 Cr
Operating margin30.3%36.5%37.1%21.5%
Interest₹5 Cr₹4 Cr₹3 Cr₹6 Cr
Depreciation₹6 Cr₹8 Cr₹12 Cr₹20 Cr
Net profit₹27 Cr₹53 Cr₹56 Cr₹15 Cr
Net margin17.4%23.4%22.7%6.7%
Cash from operations₹2 Cr₹65 Cr₹50 Cr₹10 Cr
Free cash flow₹-10 Cr₹35 Cr₹-15 Cr₹-83 Cr
ROCE35.0%47.0%37.0%10.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹4 Cr₹16 Cr₹49 Cr₹53 Cr₹53 Cr
Reserves₹62 Cr₹78 Cr₹91 Cr₹115 Cr₹271 Cr₹285 Cr
Borrowings₹3 Cr₹16 Cr₹30 Cr₹18 Cr₹31 Cr₹34 Cr
Other liabilities₹17 Cr₹11 Cr₹12 Cr₹34 Cr₹35 Cr₹37 Cr
Total liabilities₹87 Cr₹109 Cr₹149 Cr₹216 Cr₹389 Cr₹410 Cr
Fixed assets₹16 Cr₹27 Cr₹31 Cr₹48 Cr₹130 Cr₹181 Cr
Capital work in progress₹1 Cr₹7 Cr₹9 Cr₹18 Cr₹19 Cr₹6 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹70 Cr₹75 Cr₹110 Cr₹149 Cr₹240 Cr₹223 Cr
Total assets₹87 Cr₹109 Cr₹149 Cr₹216 Cr₹389 Cr₹410 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −1.92 pp while FIIs added +1.07 pp. The shareholder count shrank 14% to 1,89,918.

Promoters
37.0%
FIIs
1.5%
DIIs
1.1%
Public
60.3%

Since Jun 2025

  • Public −1.92 pp
  • FIIs +1.07 pp
  • DIIs +0.96 pp

How it drifted, 12 quarters

Over this window promoters fell from 40.1% to 37.0% — −3.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 40.1%, DIIs 0.0%, Public 59.9%.Dec '23: Promoters 40.1%, DIIs 0.0%, Public 59.9%.Mar '24: Promoters 40.1%, Public 59.9%.Jun '24: Promoters 40.1%, FIIs 0.0%, DIIs 0.4%, Public 59.6%.Sep '24: Promoters 40.1%, FIIs 0.1%, DIIs 0.7%, Public 59.2%.Dec '24: Promoters 38.6%, FIIs 0.2%, DIIs 0.9%, Public 60.3%.Mar '25: Promoters 38.6%, FIIs 0.5%, DIIs 0.4%, Public 60.5%.Jun '25: Promoters 37.1%, FIIs 0.5%, DIIs 0.2%, Public 62.2%.Sep '25: Promoters 37.1%, FIIs 0.7%, DIIs 0.2%, Public 62.0%.Dec '25: Promoters 37.1%, FIIs 0.6%, Public 62.3%.Mar '26: Promoters 37.0%, FIIs 0.6%, DIIs 0.9%, Public 61.5%.Jun '26: Promoters 37.0%, FIIs 1.5%, DIIs 1.1%, Public 60.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Avantel Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vidyasagar Abburi 14.67%−2.26 pp
Abburi Siddhartha Sagar 8.47%unchanged
Sailaja Abburi 6.13%unchanged
Sarada Abburi 5.50%unchanged
K.Swapna 2.40%unchanged
Lakshmee Foundation 2.26%+2.26 pp
Investor Education and Protection Fund 1.44%unchanged
Girish Gulati Huf 1.19%unchanged
Nagendra Babu Nagabhyrava 1.16%unchanged
Shalu Aggarwal 1.06%unchanged
Neoworth Commercial Private Limited —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (6)

Read the Q4 FY26 call →

Learn to analyse Avantel Limited

Guides on how to read this kind of business and the numbers that matter.