Suyog Telematics FY26 Results and FY27 Outlook

Suyog Telematics closed FY26 with ₹221 crore in revenue and ₹63.1 crore net profit.

Reader Takeaway: Strong FY26 performance; Vodafone orders key for FY27 growth, BSNL delays a watch point.

What just happened

Suyog Telematics announced its financial results for the fiscal year ending March 2026 (FY26). The company reported revenue from operations at ₹221 crore, with EBITDA reaching ₹164.2 crore and net profit at ₹63.1 crore.

Why this matters

The results provide a snapshot of the company's performance. More importantly, the outlook for FY27, with a guided revenue growth of 15-20%, is crucial for investors. This growth is largely contingent on securing new orders, particularly from Vodafone, and resolving existing operational bottlenecks with BSNL.

The backstory

Suyog Telematics operates a tower network and provides fiber optic services. The company has been expanding its infrastructure to cater to telecom operators. The current financial year's performance sets the stage for future growth initiatives.

What changes now

The company is setting its sights on FY27 with a revenue growth target of 15-20%. A significant driver is the expected order of 5,000 tenancies from Vodafone under an existing master service agreement. However, rollouts for BSNL are currently halted due to technical issues with Tejas equipment, which could impact revenue realization from that segment.

The company also plans a capital expenditure of ₹600 crore for FY27, to be funded by internal accruals, existing debt, and potentially new financing upon order confirmation.

Risks to watch

The primary risks involve the ongoing technical issues with Tejas equipment impacting BSNL rollouts and the high dependency on Vodafone for FY27 growth. The timing and finalization of Vodafone orders are key to revenue visibility.

Peer comparison

[Data for peer comparison is not available in the filing.]

Context metrics (time-bound)

• FY26 Revenue: ₹221 crore
• FY26 EBITDA: ₹164.2 crore
• FY26 Net Profit: ₹63.1 crore
• FY26 Tower Network: 6,008 towers
• FY26 Tenancies: 7,318
• FY27 Planned Capex: ₹600 crore

What to track next

Investors should closely monitor the confirmation of the 5,000 tenancy order from Vodafone and the resolution of the technical issues affecting BSNL operations. The company's ability to manage its ₹600 crore capex plan efficiently will also be important.