Suyog Telematics details robust growth, strategic expansion plans

Suyog Telematics reported Q2 FY26 consolidated revenue of INR554 million, achieving an EBITDA of INR417 million (75% margin) and a net profit of INR166 million (30% margin). Revenue from operations grew 16% year-on-year, with H1 growth at 17%. Key revenue contributions included Airtel (46.5%), Jio (22.7%), VI (26.3%), and BSNL (4.5%). The company ended the quarter with 5,861 towers and 7,163 tenancies.

The company plans significant rollouts, targeting 1,000+ sites for Vodafone by March and expecting 6,000 BSNL sites across India. Airtel’s 5G rollout on ULS sites is projected to add INR3,000-INR4,000 per site monthly. Suyog is also working on a INR35 crore fibre-laying project for data centers in Mumbai, anticipated to materialize by December. The company aims to increase its debt to INR250 crores to fund future CapEx, supported by promoter funds and internal accruals.

Despite the expected decrease in revenue per tenancy due to BSNL rollouts, PAT and EBITDA are projected to improve due to reduced pass-through expenses. The company maintains a strong focus on strategic growth, including potential inorganic acquisitions in Delhi and Rajasthan circles, and aims to achieve 8,500-9,000 tenancies by year-end FY26.