Rama TelecomShare price, financial results, shareholding and management
- Market cap
- ₹138 cr
- Stock P/E
- 47.5peers 10.8
- Book value
- ₹31.7
- Price to book
- 3.30
- EV / operating profit
- 37.2
- Market cap to sales
- 2.76
- ROCE · FY26
- 11.9%
- ROE · FY26
- 10.0%
- ROE, 3-year average
- 28.1%
- Operating margin · FY26
- 7.5%peers 9.0%
- Sales growth, 3 years
- 14.8%
- Profit growth, 3 years
- 39.2%
- Debt to equity
- 0.26peers 0.04
- Borrowings
- ₹11.1 cr
- Interest cover
- 8.2×
- Cash from business / op. profit
- -362%
- Debtor days
- 167
- Pledged
- 0.00%
- Promoter holding
- 71.28%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 362
- 52-week high / low
- ₹109 / ₹54
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Rama Telecom share price chart
Close on 6 Nov 2026 · +0.63% on the day · Vol 22,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +36.1%
- 3 months
- +27.8%
- 6 months
- +21.8%
- 1 year
- +72.1%
- Since IPO
- +53.9%
- Traded a day, 20 days
- ₹0.22 cr
- Taken for delivery
- 76%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +20% | -47% |
| 3 years, a year | +15% | +39% |
| Latest half, H2 FY26 | +19% | -87% |
About Rama Telecom: business, products and customers
Rama Telecom lays optical fibre and copper cables and installs telecom equipment along railway lines, mostly for Indian Railways, and does smaller fibre work for telecom companies. It is based in Kolkata and its shares trade on NSE Emerge.
Rama Telecom wins railway tenders to build the communication network beside the tracks: trenching, laying and jointing optical fibre and quad cable, and supplying and commissioning station equipment, control room systems, public address systems and emergency sockets. It also lays fibre for telecom operators, with Airtel, Jio, IOCL and the Airport Authority of India named among its clients, and works in many states from Kolkata with a small staff and contract labour.
This is contract work paid in stages. Indian Railways keeps back part of each bill as security until a project is finished, and tenders also need earnest money and bank guarantees, so profit is booked well before the cash arrives. Revenue moves with how fast work is done and certified, cable laying slows in the monsoon, and price is often what decides who wins a tender, so margins can change sharply from one half to the next.
Read more about the business
The offer document names SAR Televenture as its listed peer, a company that also builds telecom and fibre infrastructure, while noting that peers may not be exactly comparable in size. The company says it is laying fibre on three projects that support Kavach, the railways' train protection system, and is moving from older transmission equipment to IP based networks.
From the red herring prospectus (June 2025) and the Crisil rating rationale of August 2026.
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.26.
- The promoters own a large part of the company: 71.28%.
To watch
- Execution of the ₹159 cr order book the rating note records at 2 June 2026, and the new railway orders announced on 4 August 2026.
- Whether money owed by customers comes down, against the offer document's plan for collections to speed up after the IPO.
- Use of the IPO money for machines, vehicles and working capital as set out in the offer document.
- Customers take longer to pay than before: 167 days in FY26, against 76 in FY22.
- Its borrowings rose a lot last year: ₹11.1 cr, from ₹5 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Rama Telecom revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Rama Telecom half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 18.38 | 23.38 | 22.36 | 27.75 |
| Expenses | 16.07 | 18.30 | 19.20 | 27.13 |
| Operating profit | 2.31 | 5.08 | 3.17 | 0.61 |
| OPM | 12.6% | 21.7% | 14.2% | 2.2% |
| Interest | 0.20 | 0.30 | 0.21 | 0.33 |
| Depreciation | 0.07 | 0.08 | 0.11 | 0.17 |
| Profit before tax | 2.57 | 4.88 | 3.20 | 0.70 |
| Net profit | 1.92 | 3.61 | 2.42 | 0.48 |
Rama Telecom profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 32.51 | 33.10 | 37.19 | 41.76 | 50.11 |
| Expenses | 30.77 | 31.32 | 33.16 | 34.38 | 46.33 |
| Operating profit | 1.74 | 1.78 | 4.03 | 7.38 | 3.78 |
| OPM | 5.3% | 5.4% | 10.8% | 17.7% | 7.5% |
| Other income | 0.08 | 0.12 | 0.29 | 0.72 | 0.93 |
| Interest | 0.38 | 0.45 | 0.58 | 0.50 | 0.54 |
| Depreciation | 0.10 | 0.07 | 0.16 | 0.15 | 0.28 |
| Profit before tax | 1.34 | 1.38 | 3.58 | 7.45 | 3.90 |
| Tax rate | 24.6% | 21.7% | 27.1% | 25.8% | 25.4% |
| Net profit | 1.01 | 1.08 | 2.61 | 5.53 | 2.91 |
| EPS ₹ | 63.12 | 67.50 | 163.12 | 5.82 | 2.37 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Rama Telecom profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 5.3% | 5.4% | 10.8% | 17.7% | 7.5% |
| Tax rate | 24.6% | 21.7% | 27.1% | 25.8% | 25.4% |
| ROCE | · | 19.4% | 33.2% | 44.6% | 11.9% |
| ROE | · | 16.9% | 31.7% | 42.5% | 10.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Rama Telecom debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Rama Telecom balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.16 | 0.16 | 0.16 | 9.50 | 13.20 |
| Reserves | 5.68 | 6.76 | 9.38 | 6.96 | 28.67 |
| Net worth | 5.84 | 6.92 | 9.54 | 16.46 | 41.87 |
| Borrowings | 2.14 | 3.97 | 4.64 | 5 | 11.07 |
| Other liabilities | 5.57 | 5.05 | 5.26 | 7.19 | 15.35 |
| Total liabilities | 13.55 | 15.94 | 19.44 | 28.65 | 68.29 |
| Fixed assets | 0.25 | 1.16 | 1.24 | 1.16 | 3.57 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.02 | 0.02 | 0 | 0 | 0 |
| Other assets | 13.28 | 14.76 | 18.20 | 27.49 | 64.72 |
| Receivables | · | · | · | · | 22.95 |
| Inventory | · | · | · | · | 12.84 |
| Cash | · | · | · | · | 8.70 |
| Trade payables | · | · | · | · | 12.88 |
Rama Telecom cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1.27 | -1.43 | 0.82 | 0.12 | -13.69 |
| Cash from investing | 0.02 | -0.86 | 1.79 | -2.76 | -7.11 |
| Cash from financing | -0.43 | 0.12 | 0.09 | 1.26 | 28.08 |
| Net cash flow | 0.86 | -2.17 | 2.70 | -1.38 | 7.28 |
| Capital spending | · | · | · | · | 2.69 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 76 | 88 | 82 | 90 | 167 |
| Inventory days | 3 | 18 | 20 | 116 | 246 |
| Days payable | 116 | 73 | 85 | 94 | 246 |
| Cash conversion cycle | -37 | 33 | 18 | 112 | 166 |
| Working capital days | 20 | 44 | 57 | 83 | 164 |
Rama Telecom peers and competitors
Listed SME companies in the same industryBy sales, Rama Telecom is number 5 of the 7 listed SME companies in telecom - services.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Bondada Engineering | 3,352 | 15.9 | 2,843 | 211 | 12.0% | 0.42 |
| Sar Televenture | 411 | 5.7 | 522 | 71.8 | 17.8% | 0.00 |
| Kore Digital | 38 | 1.1 | 408 | 35.9 | 13.9% | 0.04 |
| Steelman Telecom | 68 | - | 230 | -15 | 6.0% | 2.72 |
| Rama Telecom | 138 | 47.5 | 50.1 | 2.9 | 7.5% | 0.26 |
| Accord Synergy | 73 | 54.7 | 36.8 | 1.3 | 2.4% | 0.05 |
| Vivo Collaboration Solutions | 30 | - | 3.3 | -0.9 | -39.8% | 0.00 |
| Median of the 6 others | 71 | 10.8 | 319 | 18.6 | 9.0% | 0.04 |
Rama Telecom shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Rama Telecom shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jul 25 | Sep 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 71.28% | 71.28% | 71.28% |
| Foreign investors (FIIs) | 5.58% | - | - |
| Indian institutions (DIIs) | - | 0.02% | 0.02% |
| HNIs (over ₹2 lakh each) | 3.02% | 5.78% | 9.41% |
| Small holders (up to ₹2 lakh) | 17.18% | 11.14% | 6.49% |
| Companies and others | 2.94% | 11.78% | 12.80% |
| Number of shareholders | 1,095 | 649 | 362 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Rama Telecom study: the business from its own documents
Read from 2 of the company's own documentsRama Telecom so far
From the company's own record
- 2 July 2025Listed on NSE Emerge at ₹68
- 31 March 2026Promoters at 71.28%
- 6 Nov 2026Highest close since listing, ₹104.65
Rama Telecom key facts from the filings
Each figure with the document it comes from
- Railway share of sales
- Over 90%
- Share of FY26 revenue from Indian Railways, as stated in the rating note; it was 89.2% in FY25.Crisil rating rationale, August 2026, p.1; Red herring prospectus, p.200, our arithmetic
- Top ten customers
- 93.84%
- Share of FY25 sales from ten customers; the company had 20 customers in all that year.Red herring prospectus, p.47 and p.207
- Order book
- ₹159 cr
- Work in hand on 2 June 2026, about three times FY26 sales of ₹50.1 cr.Crisil rating rationale, August 2026, p.1; our arithmetic
- Money held back
- 10% to 30%
- Part of each invoice Indian Railways keeps as security until the project is complete.Red herring prospectus, p.146
- Second half FY26 profit
- ₹0.48 cr
- Profit on ₹27.8 cr of sales, against ₹2.42 cr on ₹22.4 cr in the first half.Half-year results, FY26; reported figures
Show 5 more facts
- Cash from operations
- ₹-13.7 cr
- FY26 operating cash flow, as stock and money owed by customers rose, against ₹0.1 cr in FY25.Annual results FY26; reported figures
- Cash tied in the business
- Over 300 days
- Gross current assets at March 2026 measured in days, because of large stock and slow collections.Crisil rating rationale, August 2026, p.1
- Top ten suppliers
- 71.98%
- Share of FY25 purchases from ten suppliers, with no long supply agreements.Red herring prospectus, p.47 and p.49
- Credit rating
- Crisil BB+ / Stable
- Assigned in August 2026 to ₹20 cr of bank facilities, with Crisil A4+ for the short term.Crisil rating rationale, August 2026, p.1
- IPO money
- ₹14.0 cr + ₹6.1 cr
- Planned for working capital and for machines and vehicles such as fusion splicers and drillers.Red herring prospectus, p.141 and p.152
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Rama Telecom earns money by winning railway tenders to lay and connect telecom cables, then billing as the work is done and certified.
Its weak spots are one customer that gives almost all its work, tenders won mainly on price, and cash that stays locked in held back bills and deposits.
WatchCan it set its own prices?No. Work comes through open tenders, and the company itself says price is often what decides the award.
AverageHow strong is it against rivals?It has two decades of railway work and the approvals that come with it, but it competes with other fibre laying firms in every region.
WatchWho are its customers?Almost all its sales come from Indian Railways, so a change in railway spending or a delay in one zone shows up at once.
WatchDoes it need a lot of money?Yes, in working capital. Held back bills, deposits and stock for ongoing projects take more cash as the company grows.
StrongCan it keep finding new work?Yes so far. Work in hand covers about three years of present sales, and railway safety and network projects keep coming up for tender.
WatchDo good and bad years swing a lot?Yes. Profit depends on which projects are billed in a period and on the weather, and it fell sharply in the latest year even as sales grew.
Who runs Rama Telecom?
Promoters, directors and officers; tap a name for the background
RKRama Kant LakhotiaPromoter, Chairman and Managing Director · holds 17.93%
Bachelor of Commerce from the University of Calcutta (1982), with over 25 years in the telecom industry; founded the company in 2004 and has been a director since incorporation. Managing Director and Chairman from November 2024 to November 2029; responsible for business plans, new initiatives and overall strategy.
Red herring prospectus, p.254 to p.257 and p.282SLSimran LakhotiaPromoter and Whole Time Director · holds 11.54%
Bachelor of Arts in Media Communication from Manipal School of Communication (2018) and a postgraduate programme in Family Business Management, specialising in finance, from the Indian Institute of Management Calcutta (2021); with the company since May 2019, a director from April 2024 and Whole Time Director from November 2024; was Chief Financial Officer until March 2025. The offer document lists Simran Lakhotia as the daughter of Rama Kant Lakhotia.
Red herring prospectus, p.255, p.257, p.258 and p.259NLNeena LakhotiaPromoter · holds 21.71%
Bachelor of Arts from Rajasthan University, Jaipur; a shareholder for about 20 years who has handled administration, staff and offices.
Red herring prospectus, p.283NLNikita LakhotiaPromoter · holds 11.52%
Bachelor of Arts from Nottingham Trent University and a postgraduate programme in Management Practice and Leadership from The Vedica Scholars Programme for Women, New Delhi (2017); has worked as a research and marketing associate for health technology brands in Europe and America.
Red herring prospectus, p.284SKShree Kant LakhotiaNon-Executive Director · holds 4.29%
Bachelor of Commerce from Calcutta University (1983) and Chartered Accountant (1986), with more than 22 years running business units, finance and accounts; a director since August 2024. The offer document lists Shree Kant Lakhotia as the brother of Rama Kant Lakhotia.
Red herring prospectus, p.255, p.258 and p.259SDSujay DasChief Financial Officer
On the company's payroll since 2014 and Chief Financial Officer from March 2025.
Red herring prospectus, p.278 and p.281CAChandan AmbalyIndependent Director
Bachelor of Science (Textile Technology) from the University of Calcutta with diplomas in statistical quality control and business management; more than 30 years as a public sector banker, retiring in 2015 as Manager, Credit Department of United Bank of India, and now a financial consultant. Also an independent director of Atmasco and Manaksia Aluminium Company.
Red herring prospectus, p.256 and p.258HGHirak GhoshIndependent Director
Company Secretary, Cost Accountant and law graduate with a Master of Commerce, with 24 years of experience including 20 in secretarial and legal work at companies such as Dunlop India, Paharpur Cooling Towers and Shyam Steel Industries; managing partner of a legal and compliance firm since 2022.
Red herring prospectus, p.257 to p.259Rama Telecom latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹27.8 cr (+19%), net profit ₹0.5 cr (-87%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 71.28%.
Rama Telecom announcements
21 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Shareholders meetingvoting results of Annual General Meeting held on September 14, 2026PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 14, 2026PDF ↗
- AppointmentOf Mr Vivek Dudheria DIN-09736107 as Independent Director of the company w.e.f. September 14, 2026PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 14, 2026PDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 14, 2026PDF ↗
- Outcome of Board MeetingHeld on August 14, 2026PDF ↗
- General UpdatesGeneral UpdatesPDF ↗
- Updates''Receipt of New Orders from Indian Railways"PDF ↗
Rama Telecom annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Rama Telecom share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Rama Telecom's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,31,99,349 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹163.12) and FY25 (₹5.82) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Rama Telecom
What does Rama Telecom do?
Rama Telecom lays optical fibre and copper cables and installs telecom equipment along railway lines, mostly for Indian Railways, and does smaller fibre work for telecom companies. It is based in Kolkata and its shares trade on NSE Emerge.
What is the share price of Rama Telecom?
₹105 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Rama Telecom?
₹138 cr at the close on 6 Nov 2026, on 1,31,99,349 shares.
What is the P/E of Rama Telecom?
47.5 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Rama Telecom's revenue and profit?
Revenue ₹50 cr and profit after tax ₹3 cr in FY26.
Who are the promoters of Rama Telecom?
Rama Kant Lakhotia, Simran Lakhotia, Neena Lakhotia, Nikita Lakhotia; promoters held 71.28% at 31 March 2026.
What was the IPO price of Rama Telecom?
₹68 a share; it listed on 2 July 2025.
What is Rama Telecom's website?
www.ramatelecom.net
More SME companies like Rama Telecom
Other listed SME companies in telecom - services, the closest in size first, each read from its own documents.
- Steelman TelecomSTML · BSE SME · Telecom - ServicesMarket cap ₹67 cr
- Accord SynergyACCORD · NSE Emerge · Telecom - Services · listed 2017Market cap ₹57 cr
- Sar TeleventureSARTELE · NSE Emerge · Telecom - Services · listed 2023Market cap ₹366 cr
- Kore DigitalKDL · NSE Emerge · Telecom - Services · listed 2023Market cap ₹35 cr
- Vivo Collaboration SolutionsVIVO · NSE Emerge · Telecom - Services · listed 2021Market cap ₹34 cr
- Bondada EngineeringBONDADA · BSE SME · Telecom - ServicesMarket cap ₹3,103 cr
Every listed SME company in Telecom - Services → · SME companies listed in 2025 →
Built from 1 offer document, 1 credit rating note, 21 exchange announcements, 3 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.