Received Rs.2.84 Crore PO from M/s. Chowgule for satcom products; delivery by March 15, 2026; 24-month warranty.
2 Likes
Avantel Q2 results are out:
Summery:
Q2 FY26 results show sequential growth but YoY decline, reflecting order execution timing differences.
Margins remain solid despite ESOP-related expenses and expansion investments.
The company continues strengthening its balance sheet and investing in capacity expansion and R&D.
Balance Sheet Highlights (Standalone)
- Total Assets: ₹40,158.59 lakh (vs ₹29,775.65 lakh in Mar 2025)
- Equity Share Capital: ₹5,299.45 lakh
- Other Equity: ₹28,471.20 lakh
- Net Worth: ₹33,770.65 lakh
- Borrowings (Total): ₹3,919.01 lakh
Cash Flow (Standalone, H1 FY26)
- Operating Cash Flow: +₹682.37 lakh
- Investing Activities: (₹8,757.57 lakh) – major capex
- Financing Activities: +₹8,283.22 lakh – primarily from share issue proceeds
- Closing Cash: ₹366.37 lakh
Key Notes
- ESOP Expense: ₹177.57 lakh in Q2; ₹324.97 lakh for H1 FY26.
- 7,600 equity shares allotted to employees under the Avantel ESOP 2023 during the quarter.
- Segment Revenue (Consolidated):
- Communications & Signal Processing: ₹5,603.36 lakh
- Healthcare: ₹29.43 lakh (subsidiary iMeds Global Pvt. Ltd.)
- Subsidiary iMeds Global Pvt. Ltd. reported a loss of ₹190.4 lakh in Q2.
- No material auditor observations — Limited Review Reports express no adverse findings.
5 Likes
Mostly, things have moved as they mentioned, truly appreciate the management quality. The recent vigour seen in US space economy based companies is likely to start moving Avantel too (more of a speculation on my part). Still awaiting the ramp up of their medical business and the SDR orders.
2 Likes
Any one attended AGM, kindly share highlights. They havent uploaded yet.
Key Points AR 2026
Mgt Salary reduced by appx 50% in fy 26 vs Fy 25 whereas median hike for other is 24%
The decrease in profit is primarily due to a significant increase in Research and Development (R&D) expenditure 17 cr (7.86% of rev) vs 6 cr (2.63% of rev) to accelerate product development in Software Defined Radios (SDR), Wind Profiler Radar (WPR) systems as well as iDEX projects, and capital investment across various facilities resulting in a rise in depreciation. These investments are expected to enable the Company to execute a substantially larger order book, emphasising sustained revenue growth and profitability in the years ahead. Avantel is well-positioned to capture even larger opportunities in the near future as India’s defence and SATCOM sectors continue to scale under the Atmanirbhar Bharat initiative. The Company presently has an order book of approximately ₹720 Crores to be executed across two financial years FY 2026-27 and FY 2027-28. This is in addition to the orders in pipeline and expected in the next two years
One of the areas where significant IP has been developed is Software Defined Radios in various frequency bands for land, maritime, and airborne applications. This would establish Avantel as one of the key players in the future in the domains of strategic applications for the Indian defence forces. Further, we have developed Radar Signal Processing capabilities along with end-to-end software and hardware solutions for Wind Profiler Radar systems. Avantel has initiated the development of technologies for radar systems in air defence applications
The Company is executing five iDEX projects, of which three pertaining to MSS S-band Broadcast Receivers, Satphones, and Convoy Management Systems have been successfully developed and are awaiting final testing and trials by the Indian Army. Additionally, we are progressing on Ku-Band Systems, including Communication-On-The-Move (COTM) terminals, as well as shipborne and airborne applications as required by the Indian Navy
In line with the company’s vision to expand its infrastructure to meet the ever-increasing demands of indigenisation, the Company has established the new state-of-the-art facility (Unit No. 2), comprising a 4-acre land parcel with a built-up area of 86,271 square feet at E City, Raviryal Mandal, Tukkuguda. The facility became operational in October 2025.
Further, a new facility (Unit No. 3) for the development and manufacturing of SATCOM Ground Station Systems for both LEO and GEO satellites is being established over an area of 9 acres, with a built-up space of approximately 1,13,660 square feet at Kondaparva Village near Vijayawada. The facility is expected to be operational by Q3 of FY 2026–27, thereby strengthening the Company’s manufacturing capabilities and supporting future growth.
Imeds - Imeds Global Private Limited has established a dedicated facility for the design, development, and manufacturing of medical products at AMTZ (Andhra Pradesh MedTech Zone), Visakhapatnam. The facility is spread across 2 acres of land with a built-up area of approximately 36,000 square feet. The division has successfully obtained manufacturing licenses for key products including CPAP, BiPAP, Endoscope and Portable Oxygen Concentrator, marking an important milestone in its journey toward selfreliant manufacturing. Additionally, certifications for Ventilators and Patient Monitoring Systems are expected to be completed by end of July 2026. Imed loss 7.5cr vs 3.2 cr in fy 25
I believe with the latest order received company can achieve revenue of 450-500cr in fy 27 with EBIDTA margin climbing up to 30%.
Invested from lower levels
6 Likes
AGM filing 2026
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For me the highlight of the AGM was that the MD said he would like to aim at Rs 1,000 crs TO in next 5 years, he has all the products to achieve that …
Last year the margins were poor due to a one off order for fishermen and they did it for reasons of national interest to support the government. That order is done with and we can, hopefully, see better financial profile.
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I specifically liked the management commentary on iMed. I see a huge growth potential from the medical segment.
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Avantel Annual Report read is more Interesting seeing the Growth in the Sector
Huge Demand in India, and specially what was said by Ambani’s in Reliance AGM about
LEO Satellites and also after the Hype of SpaceX Ipo !!
Attaching 2 Images
AVANTEL Unit 3 (Vijayawada): new facility spanning 9 acres focused on manufacturing SATCOM Ground Station Systems for LEO and GEO satellites is scheduled to become operational by Q3 of FY 2026-27 (within the next two quarters), which will further boost structural capabilities.
Last 4 Paragraphs are also Interesting , time will tell about Execution
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