Suyog Telematics (STL) delivered solid Q2 & H1 FY26 results.

Revenue for Q2 was ₹55.4 Cr (up 16.1% YoY) and H1 was ₹110 Cr (up 17.3% YoY). EBITDA grew even faster, up 19.2% in Q2 to ₹41.7 Cr (75.2% margin) and 22.2% in H1 to ₹82.8 Cr (75.3% margin). Net Profit saw a dip (Q2 down 18% to ₹16.6 Cr, H1 down 8.6% to ₹33.9 Cr) primarily due to higher depreciation and lower other income from a prior year’s bad debt reversal.

EPS for Q2 was ₹13.60 and H1 was ₹27.77. STL is strategically expanding its telecom tower infrastructure, especially in high-power small cells crucial for 5G deployment.

A key development was the acquisition of Lotus Tele Infra for ₹13.5 Cr, immediately strengthening its presence in the critical Delhi Circle with 120 new sites and projected 50% tenancy growth within 6 months.

Major growth drivers include significant BSNL 4G/5G rollout opportunities (targeting 6,000+ sites by Dec'25), MTNL aerial fiber projects, and substantial revenue upside from Airtel's 5G rollout on existing ULS sites.

STL continues R&D for cost efficiency (e.g., wind turbines, zinc batteries) and new fiber solutions.

Management sees strong demand visibility from these ongoing projects.