Suyog Telematics Ltd. (SUYOG) AI Stock Analysis

Suyog Telematics Ltd.

(NSE:SUYOG)

Select Model

Rating:59Neutral

Price Target:INR 459.00▲(4.56% Upside)

Action:reiterated

Date:10/22/26

The score is driven by strong FY2026 profitability and growth, but materially held back by weak cash conversion (negative free cash flow) and higher leverage. Technicals also weigh on the score due to a clear downtrend (below major DMAs, negative MACD), partially offset by a low P/E valuation.

Positive Factors

FY2026 Profitability ReboundThe sharp FY2026 rebound indicates substantially stronger earnings capacity, with both scale and margins improving at once. If the higher revenue base and 28.4% net margin persist, the company can retain more internal funding for expansion and strengthen its ability to absorb operating volatility over the next several quarters.

Negative Factors

Negative Free Cash FlowDespite operating cash flow improving to 577.1M, free cash flow stayed negative at -373.1M and remained below net income. Persistent cash shortfall can constrain internally funded expansion, increase reliance on borrowing, and make reported profitability less useful for assessing financial flexibility.

Suyog Telematics Ltd. (SUYOG) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 7.54B
Dividend Yield: 0.23%
Average Volume (3M): 1,955
Price to Earnings (P/E): 8.4
Beta (1Y): 0.96
Revenue Growth: 11.48%
EPS Growth: 37.10%
Country: India
Employees: 409
Sector: General
Sector Strength: 55
Industry: Telecommunications Services

Suyog Telematics Ltd. Business Overview & Revenue Model

Company Description

Suyog Telematics Ltd. operates as an Indian provider of passive infrastructure solutions for the telecommunications sector. Its extensive range of services and products supports telecom operators and internet service providers, encompassing ground-mo...

How the Company Makes Money

The company primarily makes money by monetizing telecom infrastructure it owns and operates, with revenues typically generated through long-term commercial arrangements with telecom operators (tenants) who place their equipment on SUYOG-managed tower...

Suyog Telematics Ltd. Financial Statement Overview

Summary

FY2026 profitability rebounded sharply (revenue +110.4% YoY; net margin 28.4%; EBIT margin 45.9%), but the quality of earnings is weakened by negative free cash flow (-373.1M) despite higher operating cash flow and by rising leverage (debt up to 3.71B; debt-to-equity 0.76).

Income Statement

72Positive

Balance Sheet

63Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024
Income Statement
Total Revenue	1.05B	2.22B	1.93B
Gross Profit	981.35M	1.19B	1.73B
EBITDA	512.37M	1.64B	1.19B
Net Income	28.40M	630.31M	4.74M
Balance Sheet
Total Assets	7.72B	9.43B	6.84B
Cash, Cash Equivalents and Short-Term Investments	164.28M	175.64M	373.23M
Total Debt	2.71B	3.71B	2.13B
Total Liabilities	3.37B	4.53B	2.83B
Stockholders Equity	4.35B	4.90B	4.00B
Cash Flow
Free Cash Flow	-1.39B	-373.07M	-597.25M
Operating Cash Flow	638.54M	577.14M	9.37M
Investing Cash Flow	-1.96B	-1.16B	-16.73M
Financing Cash Flow	1.32B	389.05M	11.24M

Suyog Telematics Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price439.00

Price Trends

50DMA651.98Negative

100DMA740.79Negative

200DMA713.56Negative

Market Momentum

MACD-63.49Positive

RSI19.22Positive

STOCH9.62Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SUYOG, the sentiment is Negative. The current price of 439.00 is below the 20-day moving average (MA) of 579.94, below the 50-day MA of 651.98, and below the 200-day MA of 713.56, indicating a bearish trend. The MACD of -63.49 indicates Positive momentum. The RSI at 19.22 is Positive, neither overbought nor oversold. The STOCH value of 9.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SUYOG.

Suyog Telematics Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SUYOG against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ROUTE	71Outperform	INR 27.69B	5.77	―	2.73%	0.89%	104.13%
IN:BHARTIARTL	67Neutral	INR 12.29T	41.17	―	1.22%	19.63%	-18.80%
IN:RAILTEL	63Neutral	INR 71.38B	21.08	―	1.46%	22.56%	5.56%
IN:TATACOMM	60Neutral	INR 477.80B	43.19	―	1.05%	9.08%	-20.04%
IN:SUYOG	59Neutral	INR 5.14B	8.45	―	0.23%	11.48%	37.10%
IN:IDEA	58Neutral	INR 1.28T	4.12	―	―	3.30%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:SUYOG and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SUYOG	Suyog Telematics Ltd.	439.00	-315.62	-41.83%
IN:BHARTIARTL	Bharti Airtel Limited	1970.00	-77.98	-3.81%
IN:IDEA	Vodafone Idea Ltd	11.82	2.28	23.90%
IN:RAILTEL	RailTel Corp. of India Ltd.	222.40	-142.07	-38.98%
IN:ROUTE	Route Mobile, Ltd.	439.50	-270.15	-38.07%
IN:TATACOMM	Tata Communications Limited	1676.00	-208.31	-11.05%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 22, 2026

Suyog Telematics Ltd. AI Stock Analysis