NELCO
NELCO share price & financials
- Price
- ₹867.15
- Market cap
- ₹2.2k Cr
- Sector
- Information Technology
What NELCO Limited does
Nelco Limited, a Tata Group company, provides satellite communication (Satcom) solutions, connecting enterprises, maritime vessels, aircraft (in-flight connectivity), government bodies and remote/rural communities where terrestrial networks don't reach. It earns revenue by selling connectivity services and related network equipment built on satellite (currently GEO, with hybrid GEO-LEO capability under development pending regulatory approval) and ground infrastructure. The company operates as a single reportable segment, Network Systems, and runs its equipment business through a wholly-owned subsidiary, Nelco Network Products Ltd (NNPL), alongside an associate company, Piscis Networks Pvt Ltd (PISCIS).
Segments
- Network Systems
- Indian Satcom market share
- ~40%+ (dominant/leadership position)
- Customer verticals served
- Enterprise, Maritime, Aviation (in-flight connectivity), Government, remote/rural communities
- Group structure
- 1 wholly-owned subsidiary (Nelco Network Products Ltd) + 1 associate company (Piscis Networks Pvt Ltd)
- Promoter group
- Tata Group
- Satellite network technology
- GEO satellite connectivity, with hybrid GEO-LEO multi-orbit capability in development
Quarterly results
Q1 FY27: revenue up 7.0%, net profit up 30.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 83 | 81 | 68 | 75 | 74 −10% | 78 −3% | 79 +17% | 80 +7% |
| EBITDA | 11 | 12 | 6 | 8 | 7 −31% | 8 −36% | 5 −15% | 8 +7% |
| Net profit | 4 | 5 | -4 | 2 | 2 −60% | -1 −124% | 1 +127% | 2 +30% |
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 +16.5% 1Y
1Y: ₹813.35 on 10 Sept 2025 → ₹947.25. High ₹1,081.5 (17 Aug 2026), low ₹506.1 (30 Mar 2026).
Financials, as filed
Revenue fell 0.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹313 Cr | ₹320 Cr | ₹305 Cr | ₹307 Cr |
| Operating profit | ₹61 Cr | ₹59 Cr | ₹42 Cr | ₹29 Cr |
| Operating margin | 19.4% | 18.5% | 13.7% | 9.3% |
| Interest | ₹8 Cr | ₹7 Cr | ₹6 Cr | ₹5 Cr |
| Depreciation | ₹28 Cr | ₹22 Cr | ₹22 Cr | ₹20 Cr |
| Net profit | ₹20 Cr | ₹24 Cr | ₹10 Cr | ₹3 Cr |
| Net margin | 6.3% | 7.4% | 3.1% | 1.1% |
| Cash from operations | ₹58 Cr | ₹45 Cr | ₹20 Cr | ₹15 Cr |
| Free cash flow | ₹33 Cr | ₹29 Cr | ₹3 Cr | ₹-6 Cr |
| ROCE | 22.0% | 23.0% | 14.0% | 7.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr |
| Reserves | ₹53 Cr | ₹66 Cr | ₹82 Cr | ₹101 Cr | ₹106 Cr | ₹106 Cr |
| Borrowings | ₹90 Cr | ₹81 Cr | ₹63 Cr | ₹57 Cr | ₹72 Cr | ₹73 Cr |
| Other liabilities | ₹72 Cr | ₹93 Cr | ₹95 Cr | ₹102 Cr | ₹109 Cr | ₹146 Cr |
| Total liabilities | ₹238 Cr | ₹263 Cr | ₹262 Cr | ₹282 Cr | ₹309 Cr | ₹347 Cr |
| Fixed assets | ₹108 Cr | ₹110 Cr | ₹95 Cr | ₹87 Cr | ₹78 Cr | ₹77 Cr |
| Capital work in progress | ₹4 Cr | ₹3 Cr | ₹1 Cr | ₹10 Cr | ₹10 Cr | ₹41 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Other assets | ₹126 Cr | ₹150 Cr | ₹165 Cr | ₹181 Cr | ₹218 Cr | ₹225 Cr |
| Total assets | ₹238 Cr | ₹263 Cr | ₹262 Cr | ₹282 Cr | ₹309 Cr | ₹347 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, FIIs added +0.98 pp while the public trimmed −0.92 pp. The shareholder count shrank 2% to 69,141.
- Promoters
- 50.1%
- FIIs
- 5.6%
- DIIs
- 0.1%
- Government
- 0.3%
- Public
- 44.0%
Since Jun 2025
- FIIs +0.98 pp
- Public −0.92 pp
- DIIs −0.07 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.4% to 5.6% — +1.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 50.1%, FIIs 4.4%, DIIs 0.1%, Government 0.3%, Public 45.1%.Dec '23: Promoters 50.1%, FIIs 4.5%, DIIs 0.1%, Government 0.3%, Public 45.1%.Mar '24: Promoters 50.1%, FIIs 4.5%, DIIs 0.1%, Government 0.3%, Public 45.1%.Jun '24: Promoters 50.1%, FIIs 4.8%, DIIs 0.1%, Government 0.3%, Public 44.8%.Sep '24: Promoters 50.1%, FIIs 4.6%, DIIs 0.1%, Government 0.3%, Public 45.0%.Dec '24: Promoters 50.1%, FIIs 5.4%, DIIs 0.1%, Government 0.3%, Public 44.1%.Mar '25: Promoters 50.1%, FIIs 4.8%, DIIs 0.1%, Government 0.3%, Public 44.7%.Jun '25: Promoters 50.1%, FIIs 4.6%, DIIs 0.1%, Government 0.3%, Public 44.9%.Sep '25: Promoters 50.1%, FIIs 4.6%, DIIs 0.2%, Government 0.3%, Public 44.9%.Dec '25: Promoters 50.1%, FIIs 4.6%, DIIs 0.2%, Government 0.3%, Public 44.9%.Mar '26: Promoters 50.1%, FIIs 4.7%, DIIs 0.3%, Government 0.3%, Public 44.7%.Jun '26: Promoters 50.1%, FIIs 5.6%, DIIs 0.1%, Government 0.3%, Public 44.0%.
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.
- Quadrature Capital Vector Sp Limited FPI fund newly disclosed 1.19% held
- TP Urja Limited newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of NELCO Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| The Tata Power Company Limited | 50.04% | unchanged |
| Schlumberger Limited Corporate | 3.80% | unchanged |
| Quadrature Capital Vector Sp Limited FPI fund | 1.19% | newly disclosed |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.05% | unchanged |
| Af-Taab Investment Company Limited | 0.04% | unchanged |
| Industrial Energy Limited | 0.00% | unchanged |
| TP Parivart Limited | 0.00% | unchanged |
| Tp Kirnali Solar Limited | 0.00% | unchanged |
| TP Agastaya Limited | 0.00% | unchanged |
| Tata Power Delhi Distribution Limited | 0.00% | unchanged |
| NDPL Infra Limited | 0.00% | unchanged |
| TP Ajmer Distribution Limited | 0.00% | unchanged |
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.
Learn to analyse NELCO Limited
Guides on how to read this kind of business and the numbers that matter.