Avantel Limited

Revenue from operations shows y-o-y growth of 10.97% to ₹248.48 crore (PY: ₹223.92 crore), driven by successful execution of RTIS systems for Indian Railways, MSS Helicopter version units for Lockheed Martin, MSS M II terminals for ships and strategic vehicles, and supply of C-band Hub stations and MSS terminals to the Indian Coast Guard backed by improved order book position and timely execution. The company maintains a robust operating profitability marked by PBILDT and profit after taxation (

As on March 25, 2026, Avantel has order book of ₹861.02 crore (₹192.65 crore as on July 31, 2025), which is equivalent to 3.45x based on turnover recorded in FY25, providing medium-to-long term revenue visibility. Avantel secures running orders from different clients, and some of its notable clients include Newspace India Limited, India Meteorological Department, Mazagon Dock Shipbuilders Limited , Bharat Electronics Limited, Zetwerk Manufacturing Businesses Private Limitedand Cochin Shipyard Li

The company’s financial risk profile remains comfortable, supported by the absence of term debt. Overall gearing stood at a comfortable 0.11x as on March 31, 2025, unchanged from March 31, 2024. Total debt comprises working capital borrowings, unsecured loans from promoters, and lease liabilities. Other coverage indicators also remained strong. Total debt to gross cash accruals (TD/GCA) marginally deteriorated but remained comfortable at 0.37x as on March 31, 2025 (PYE: 0.28x), while the

Dr Abburi Vidyasagar, Chairman and Managing Director, established the company in 1990, leveraging his extensive experience in electronics and communication engineering. Holding a postgraduate degree from IIT, Kharagpur, Dr Vidyasagar has over four decades of industry expertise. Under his leadership, the company has over 30 years of experience in designing, developing, manufacturing, system engineering, deployment, and providing after-market support for a diverse range of defence electronics

Avantel has been operating in the defence sector for over three decades. Over the years, the company established itself as on e of the key defence manufacturers in India with proven ability to timely deliver projects. Specialising in wireless and satellite communication products, the company serves clients of strategic importance in aerospace and defence sectors. Key clientele includes Indian Navy (Material organisation, Indian Coast Guard and others), Cochin Shipyard Limited, Goa Shipyard Limit

In 9MFY26, Avantel recorded total operating income (TOI) of ₹158.21 crore, reflecting an annualised revenue decline of ~15% and a year-on-year decline of ~21% compared to 9MFY25. Decline was primarily due to execution of a higher proportion of relatively low-value products with greater competitive intensity, compared to its proprietary value-added offerings. The company also continued to invest in the development and implementation of research and development (R&D)driven products, which are

Being a defence product manufacturer, Avantel’s products undergo rigorous testing before a final order is awarded. The entire process to win an order and begin commercial production takes ~2-3 years, in addition to product development (between RFI and RFP), which itself can take ~2-3 years. Initial phase of product development also demands a substantial time, averaging ~2 years to establish proof of concept. This necessitates regular capital allocation for product development/upgradations and fi

Working capital cycle slightly deteriorated to 213 days in FY25 (PY: 188 days), primarily considering an increase in trade receivables due to higher sales towards the year-end, inventory build-up for orders scheduled for execution in the ensuing quarters, and delays in clearance of certain orders. The company’s order execution cycle typically ranges between 12–18 months, with an average collection period of ~2.5–3 months. Though invoicing is done at the time of delivery of products, 20% of