Avantel Limited (AVANTEL)

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Avantel Limited (AVANTEL) · mywealthgrid

About

Avantel operates as a supplier in India's Aerospace & Defense sector, with quarterly revenue around ₹70 Cr and market cap ₹4,211 Cr, positioning it as a small-cap in the Industrials segment. The company maintains steady operating margins (21-27%) but delivers weak returns on equity (5.21%), suggesting capital deployment challenges. It relies on contract-based revenue typical of defense suppliers.

Face value: ₹2

Market cap

₹3,993 Cr

P/E

232.6×

P/B

11.8×

Dividend yield

0.1%

ROE

5.2%

ROCE

10%

Debt / equity

0.1

OPM

21.5%

EPS (TTM)

₹0.6

Book value

₹12.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE ratio of 245.27 is extremely elevated, suggesting significant downside if earnings don't accelerate or market reassesses expectations

Profit swings from ₹2.74 Cr to ₹7.62 Cr quarterly — typical of small defense contractors with lumpy contracts; verify order visibility and execution timelines

ROE only 5.21% despite 24-27% margins and D/E 0.1 suggests poor asset productivity — verify capacity utilization and capital deployment

Small scale (₹70 Cr quarterly revenue) may limit negotiating power; verify order concentration, customer dependence, and execution constraints

Generated analysis · source review pending

Growth drivers

Revenue up 37% from ₹51.25 Cr (Dec 2025) to ₹70.42 Cr (Jun 2026) — verify contract wins or demand strength that sustains this

Margins held 24-27% through revenue volatility — verify pricing stability or cost structure withstands competition and scale

Low debt (D/E 0.1) enables capex or acquisition growth — verify if management plans to expand revenue base

Regular dividends (Jun 2026, Jun 2025) suggest cash generation — verify FCF conversion and reinvestment strategy

Generated analysis · source review pending

769 historical price candles were omitted because the exchange source has not been verified.

₹150.3+0.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 24% (3-yr avg)
+High return on capital employed of 34.1%
+Healthy operating margin of 21.5%
+Revenue CAGR of 23.5% over the last 5 years
+Dividend payout of 31% of profit

Cons

−Profit declined 0.4% a year over the last 5 years
−Expensive at 232.6× trailing earnings
−Trading at 11.8× book value

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 40
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Dynamics LimitedBDLBDL	₹39,882 Cr	₹39,882 Cr	₹2,766 Cr	₹352 Cr	9.2%	₹521 Cr	17.2%	7.5%	10.2%	598
Garden Reach Shipbuilders & Engineers LimitedGRSEGRSE	₹24,193 Cr	₹24,193 Cr	₹7,507 Cr	₹833 Cr	11.4%	₹801 Cr	10.7%	41%	31.8%	205
Data Patterns (India) LimitedDATAPATTNSDATAPATTNS	₹23,807 Cr	₹23,807 Cr	₹941 Cr	₹373 Cr	40.4%	₹268 Cr	29.3%	22.6%	16.7%	499
Sigma Advanced Systems LimitedSIGMAADVSIGMAADV	₹18,975 Cr	₹19,275 Cr	₹843 Cr	₹121 Cr	9.7%	₹163 Cr	54.5%	73.1%	87.6%	271
Aequs LimitedAEQUSAEQUS	₹18,448 Cr	₹18,851 Cr	₹1,230 Cr	₹89 Cr	7.2%	₹-113 Cr	-9.2%	1.1%	-10.3%	259
Astra Microwave Products LimitedASTRAMICROASTRAMICRO	₹15,417 Cr	₹15,704 Cr	₹1,140 Cr	₹326 Cr	28.7%	₹189 Cr	16.6%	23.1%	16%	537
Apollo Micro Systems LimitedAPOLLOAPOLLO	₹14,558 Cr	₹15,091 Cr	₹1,022 Cr	₹231 Cr	24.1%	₹122 Cr	11.9%	18.2%	11.8%	443
Zen Technologies LimitedZENTECZENTEC	₹14,232 Cr	₹14,236 Cr	₹671 Cr	₹221 Cr	36%	₹186 Cr	31.7%	16.3%	10.8%	425
Paras Defence And Space Technologies LimitedPARASPARAS	₹10,285 Cr	₹10,311 Cr	₹511 Cr	₹130 Cr	25.3%	₹94 Cr	18.8%	16.9%	12.9%	435
Axiscades Technologies LimitedAXISCADESAXISCADES	₹9,806 Cr	₹10,082 Cr	₹1,099 Cr	₹152 Cr	15.3%	₹36 Cr	6.2%	17.7%	10.4%	31
Unimech Aerospace And Manufacturing LimitedUNIMECHUNIMECH	₹9,025 Cr	₹9,137 Cr	₹285 Cr	₹95 Cr	31.2%	₹72 Cr	26.3%	12.8%	9%	137
Mishra Dhatu Nigam LimitedMIDHANIMIDHANI	₹8,121 Cr	₹8,405 Cr	₹1,278 Cr	₹240 Cr	19.7%	₹135 Cr	10.9%	9.1%	8.9%	1,022

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	78	105	154	224	249	223
COGS	27	47	63	77	64	65
Gross profit	51	58	91	147	185	157
	29	31	44	66	93	110
	22	27	47	82	93	48
OPM %	28.5%	25.4%	30.3%	36.5%	37.1%	21.5%
Depreciation	3	4	6	8	12	20
Interest	2	2	5	4	3	6
	1	1	0	1	2	2
Profit before tax	19	22	37	72	79	25
Tax	3	4	10	19	23	10
Tax %	17.1%	20%	26.8%	26.5%	29%	39.1%
	15	18	27	53	56	15
PAT margin %	19.7%	17.1%	17.4%	23.4%	22.7%	6.7%
EPS (₹)	—	—	—	—	2.3	0.6
EPS adjusted (₹)	0.6	0.7	1.1	2.2	2.3	0.6
	—	—	—	—	8.6%	36.4%
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	16	49	49	53
Reserves	62	78	91	115	188	285
Minority interest	—	—	—	0	—	—
	0	13	28	12	21	34
	21	14	14	40	32	37
Total equity & liabilities	87	109	149	216	290	410
	16	27	31	43	110	181
CWIP	1	7	9	18	5	6
Investments	0	0	0	0	0	0
	70	75	110	155	175	223
Total assets	87	109	149	216	290	410

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Communications and signal processing products	223.72	32.17	383.87	70.47	313.4	10.26
Health Care	1.62	-7.53

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.3%	55.3%	59.1%	65.7%	74.3%	70.7%
EBITDA margin %	28.5%	25.4%	30.3%	36.5%	37.1%	21.5%
EBIT margin %	24.6%	21.5%	26.6%	33.1%	32.4%	12.5%
PAT margin %	19.7%	17.1%	17.4%	23.4%	22.7%	6.7%
Working capital
Receivable days	62	126	94	104	104	117
Inventory days	34	131	258	218	345	521
Payable days	4	6	18	28	24	11
NWC days	91	251	334	295	426	627
Leverage
Current ratio	3.89	3.19	2.8	3.24	4.84	3.72
Debt to EBITDA	0	0.48	0.6	0.14	0.23	0.72
Debt to equity	0	0.16	0.26	0.07	0.09	0.1
Interest coverage	13.3	15.9	8.5	18.1	27	5.4
Asset turnover	0.9	0.96	1.03	1.04	0.86	0.54
Return ratios
Return on assets %	17.7%	16.5%	18%	24.3%	19.5%	3.7%
Return on capital employed %	28.5%	30.6%	42%	53.8%	38.7%	10%
Return on equity %	23.1%	21.8%	25%	32%	23.8%	4.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40.1%	40.1%	40.06%	40.06%	40.06%	38.58%	38.57%	37.15%	37.15%	37.08%	37.04%	37.04%
	0%	0%	0%	0.01%	0.11%	0.18%	0.48%	0.48%	0.67%	0.6%	0.55%	1.53%
	0.01%	0.01%	0%	0.39%	0.65%	0.92%	0.42%	0.18%	0.16%	0%	0.92%	1.14%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	59.89%	59.89%	59.94%	59.54%	59.18%	60.32%	60.53%	62.19%	62.02%	62.32%	61.49%	60.29%
No. of shareholders	—	—	—	—	—	—	—	—	2,09,275	2,04,063	1,97,774	1,89,918

Promoter holding down 3.06 percentage points since Sep 2023.

4 disclosures

Person	Deal	Shares	Value	Holding	Filed
PSV RamakrishnaEmployees/Designated Employees	SellMarket Sale	7,950	₹14.71 L	0.01% → 0.01%	27 Sept 20257(2)
P Bala Bhaskar RaoEmployees/Designated Employees	SellMarket Sale	14,000	₹26.25 L

13 deals · 28 Nov 2023 – 20 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	16,19,887	₹168.87	₹27.36 Cr
20 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	16,19,887	₹168.96	₹27.37 Cr
20 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	13,37,532	₹169.25	₹22.64 Cr
20 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	11,65,559	₹169.77	₹19.79 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	17,49,437	₹200.76	₹35.12 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	11,76,190	₹201.04	₹23.65 Cr
5 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	13,74,193	₹176.32	₹24.23 Cr
5 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	13,74,193	₹176.18	₹24.21 Cr
9 Jun 2025	LAKSHMEE FOUNDATION	Bulk	NSE	Sell	21,00,000	₹163.21	₹34.27 Cr
6 Jun 2025	LAKSHMEE FOUNDATION	Bulk	NSE	Sell	15,00,000	₹174.38	₹26.16 Cr

1–10 of 13

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. ABBURI VIDYASAGARExecutive Director-Chairperson-MD
Mrs. ABBURI SARADAExecutive Director
Mr. ABBURI SIDDHARTHA SAGARExecutive Director
Mr. VYASABHATTU RAMCHANDERNon-Executive - Independent Director
Mr. AJIT TAVANAPPA KALGHATGINon-Executive - Independent Director
Ms. HARITA VASIREDDINon-Executive - Independent Director
Mr. TAMILMANI KANDASAMYNon-Executive - Independent Director
Mr. LAKSHMINARASIMHAACHARYULU MUKTEVINon-Executive - Independent Director
Mr. Peddi Bala Bhaskar RaoExecutive Director
Mr. D Rajasekhara ReddyCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Avantel Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

92 announcementsExport CSV

1 Oct 2026, 12:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.3%	55.3%	59.1%	65.7%	74.3%	70.7%
EBITDA margin %	28.5%	25.4%	30.3%	36.5%	37.1%	21.5%
EBIT margin %	24.6%	21.5%	26.6%	33.1%	32.4%	12.5%
PAT margin %	19.7%	17.1%	17.4%	23.4%	22.7%	6.7%
Working capital
Receivable days	62	126	94	104	104	117
Inventory days	34	131	258	218	345	521
Payable days	4	6	18	28	24	11
NWC days	91	251	334	295	426	627
Leverage
Current ratio	3.89	3.19	2.8	3.24	4.84	3.72
Debt to EBITDA	0	0.48	0.6	0.14	0.23	0.72
Debt to equity	0	0.16	0.26	0.07	0.09	0.1
Interest coverage	13.3	15.9	8.5	18.1	27	5.4
Asset turnover	0.9	0.96	1.03	1.04	0.86	0.54
Return ratios
Return on assets %	17.7%	16.5%	18%	24.3%	19.5%	3.7%
Return on capital employed %	28.5%	30.6%	42%	53.8%	38.7%	10%
Return on equity %	23.1%	21.8%	25%	32%	23.8%	4.4%

Date	Category	Subject	Filing
1 Oct 2026, 12:44 pm	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
30 Sept 2026, 11:43 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 2:48 pm	Company Update General	Intimation Regarding Dispatch Of Communication To Shareholders Whose E-Mail Addresses Are Not Registered With The Company Pursuant To Regulation 36(1)(B) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
22 Sept 2026, 2:44 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot	PDF
18 Sept 2026, 3:35 pm	Company Update Restructuring	Announcement under Regulation 30 (LODR)-Restructuring	PDF
18 Sept 2026, 3:30 pm	Company Update Amendments to Memorandum & Articles of Association	Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association	PDF
18 Sept 2026, 3:23 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of The Board Meeting Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
15 Sept 2026, 12:06 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	45	-32	2	65	50	10
	-42	23	-10	-42	-57	-93
	-3	9	8	-23	8	86
Net cash flow	0	-0	-0	1	1	4
Free cash flow	40	-47	-9	43	-29	-81
CFO / Operating profit %	201.4%	-121.4%	3.6%	79.7%	53.9%	21%

Avantel Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

21

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Communications and signal processing products · revenue

Avantel Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends21

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Communications and signal processing products · revenue

21

1

1