Suyog Telematics Limited has informed the Exchange about Investor Presentation
Ref: STL/SEC/2025-26/DT-037
May 21, 2025
The Manager, Listing Department, BSE Limited P J Towers, 1st Floor, Dalal Street, Mumbai- 400001
The Manager, Listing Department, National Stock Exchange of India Limited Bandra Kurla Complex, C-1, Block G, Bandra (East), Mumbai - 400051
Scrip Code: 537259
Symbol: SUYOG
Dear Sir/Madam,
Sub: Intimation of Investor Presentation for the Quarter and Financial Year ended March 31, 2025
In pursuance to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, please find enclosed herewith the Investor Presentation for the Quarter and Financial Year ended March 31, 2025.
Request you to take the same on record.
Thanking You,
Yours faithfully, For Suyog Telematics Limited
Aarti Shukla Company Secretary & Compliance Officer
Encl.: A/a
SUYOG TELEMATICS LIMITED
Investor presentation Q4 & FY2025
“
INFINITE Links, INFINITE Possibilities CONNECTING Today, ENVISIONING Tomorrow
DISCLAIMER
This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Suyog Telematics Limited (“STL”, “Suyog”, "Company“), nor shall part, or all, of this document form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of the Company. This document is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form for any purpose. The information in this document is being provided by the Company and is subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. You acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
INVESTOR PRESENTATION
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TABLE OF CONTENTS
About Suyog Telematics
Business Overview
Industry Overview
Way Forward
Financial Highlights
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About Suyog Telematics
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COMPANY OVERVIEW
Suyog Telematics Limited is a dynamic player in the telecommunications industry, specializing in cutting-edge telecom tower infrastructure solutions. The company is committed to driving connectivity in both urban and rural areas. Known for its strategic infrastructure, fiber approach, Suyog Telematics focuses on high-power small cell connectivity, and environmentally friendly solutions. With a diverse portfolio and a client base that includes major telecom operators, the company plays a key role in transforming cities into 5G-ready hubs and powering rural villages with advanced network capabilities.
Operator wise Revenue Breakup
Q4FY25
FY25
46.6%
49.0%
23.6%
23.1%
27.9%
27.2%
1.9%
0.7%
26 States & Union Territories
INVESTOR PRESENTATION
5700+ Total Telecom Towers
7000+ Total Tenancies
Experience of 25+ years
Built 10,000+ Roof Top Towers for BSNL (EPC)
Only IP company to have maximum Govt. sites (in % terms)
Presence in all crucial circles in Small Cell Segment (essential for 5G deployment)
Services Offered:
▪ Tower Erection
▪ Fiber Optics Network Solution
▪ Pole Erection
Product Portfolio:
▪ Ground Based Tower
▪ Roof Top Tower
▪ Cow Tower
▪ GBM Tower
▪ Camouflage Tower
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KEY HIGHLIGHTS
26
5704
7002
States & UTs
Total Towers
Total Tenancies
4014
Small Cell Tenancies
1004
5807
Government Sites Tenancies
Fiber Network “in kms”
Enhancing presence with substantial capex and growth strategies
INVESTOR PRESENTATION
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LEADERSHIP TEAM (1/3)
Over 20 years of telecom industry expertise, showcasing exceptional entrepreneurship, leadership, and management skills, coupled with profound industry knowledge.
Shiv Shankar Lature Co-Founder & Managing Director
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LEADERSHIP TEAM (2/3)
Ms. Subhashita Lature Whole TimeDirector
Mr. Suyash Lature Business Development Manager
Mr. Tushar Shah Business Head (India)
With a Bachelor’s in Electronics and Telecommunication Engineering from Mumbai University and education in the UK, she has been instrumental in expanding Suyog Telematics in is now targeting global expansion, using her India and international business expertise. Her technical skills and strategic vision make her a key leader in achieving the company’s global goals.
After a short time in ed-tech with MyCaptain, he entered the telecom industry, where he leads a team at Suyog Telematics focused on creating value for all stakeholders. He authored the "Telecom Tower Manual: A Technical Approach," offering technology. With an engineering insights background and an MBA in Global Family Business Management from S.P. Jain, he has quickly made a significant learn and embrace new impact and remains eager to challenges.
telecom
into
With an Executive MBA from NMIMS and over 14 years at Bharti Airtel, he has been instrumental at Suyog Telematics since 2014. He helped transform the company into a leading IP1 provider, expanding its reach nationally and significantly increasing revenue. As Business Head, he drives strategy and operations, and shareholder returns.
focusing on
satisfaction
customer
INVESTOR PRESENTATION
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LEADERSHIP TEAM (3/3)
Mr. Mahesh Rajure Business Head (India)
Mr. Ajay Sharma Chief Financial Officer
Ms. Aarti Shukla Company Secretary
After earning his B.E. in Electronics and Telecom in 1995 and training at Videocon, he joined Suyog Telematics in 1996, managing telecom system installations in Maharashtra. By 2007, Suyog partnered with BSNL for infrastructure sharing. Now, Mahesh drives business strategy and oversees nationwide operations, focusing on revenue generation and quality service for major telecom operators like Vodafone Idea, Airtel, Jio, and BSNL.
With over 28 years of experience in finance and accounting, he is a seasoned expert. Before joining Suyog Telematics in 2017, he led the Finance and Accounting divisions at major organizations like Educom and Aditya Birla Group. At Suyog Telematics, he is part of the KMP team, achieving strong financial results each year while ensuring robust financial controls and corporate governance across the company.
A qualified Company Secretary, LL.B, and MBA, with extensive experience in the listed company sector. She specializes in corporate governance, regulatory compliance, and legal documentation, managing board activities, ensuring regulatory adherence, and implementing compliance programs while maintaining statutory records and liaising with regulatory bodies.
INVESTOR PRESENTATION
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OUR JOURNEY
Incorporated as “Suyog Telematics Private Limited” on 28th of July
Converted to Public Limited Company “Suyog Telematics Limited”
Began expanding across India with HPSC (High Power Small Cell), extending beyond Mumbai and Maharashtra
1995
2013
2021
2008
2014
2024
Obtained IP-1 licence from Department of Telecommunication
Listed on “Bombay Stock Exchange”
Listing on “National Stock Exchange”
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Business Overview
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BUSINESS OVERVIEW (1/2)
Suyog Telematics Limited is a passive telecommunication infrastructure provider, providing cutting-edge solutions by building and operating telecom towers and related assets , thereby providing these passive infrastructure assets on shared basis to Telecommunication Service Providers.
With a robust foundation spanning over two decades, the company has honed its expertise in providing innovative, reliable, and cost-effective solutions to meet the evolving demands of the telecommunications sector.
Emphasizing high-power small cell Infrastructure
Environment friendly solutions
Client base includes Major Telecom Companies
Connectivity across diverse landscape
Critical Player in Tele-communication Systems
Forward looking vision, coupled with its emphasis on Efficiency, Cost-effectiveness, and Sustainable practices
As a key player in the telecom tower infrastructure landscape, Suyog Telematics is committed to pioneering advancements that drive connectivity and technological progress.
Driving Growth
Fiber Connectivity
INVESTOR PRESENTATION
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BUSINESS OVERVIEW (2/2)
SUYOG’s SCOPE OF WORK (for providing tower infrastructure)
Tower Infrastructure
Power Supply
Supported with FIBERIZATION
Providing the Telecom Service Providers with ready infrastructure on long term lease to deploy their active communication related equipment like Antenna & BTS.
The lease arrangement is backed by Master Service Agreements which includes Service Level Agreement for ensuring site uptime for Telecom companies.
Enabling Telecom companies to proactively grow on a faster pace and speedy 5G roll out across India in all telecom circles.
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BUSINESS MODEL
Identification of Site
Deployment at Site
Infrastructure Sharing
In response to customer requests, company meticulously identify optimal locations. The site identification process, managed by it’s acquisition team, is a critical step to ensure the ongoing expansion of their asset portfolio for long-term sustainability.
After identifying a location, company secures a lease for the land from the owner and proceed to deploy tower infrastructure.
Company leases out the erected tower infrastructure to wireless tenants through long-term agreements, referred to as Master Service Agreements (MSA), at a predetermined fee. Tenants are responsible for owning and operating the active equipment, such as antennas and BTS, at the site.
Sustainable Revenue Model
Company secures co-locations with tenures extending beyond seven years, accompanied by exit penalties, contributing to the establishment of robust recurring revenue streams.
Margin Accretive
Incorporating new tenants at their sites involves minimal additional operating costs compared to the one-time fixed cost. This contributes positively to the bottom line, fostering higher profitability margins and creating wealth for stakeholders.
INVESTOR PRESENTATION
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MASTER SERVICE AGREEMENT
(LONG TERM SERVICE CONTRACTS)
Site Rentals
Loading Charges
Rentals are billed under one of the following models: Based on actuals Inbuilt as a fixed cost with IP Fees
Loading charges are determined either through agreed fixed charges or based on the equipment installed by telcos at the sites.
IP (Infrastructure Provider) Fees
IP Fees is based on: Location type (GBT, RTT, Pole Sites, etc.) City Premium No. of Operators on the location
2
3
Revenue Arrangements in Long-Term Service Contract (MSA) with All Telcos
1
4
Utilities Allocation
Actual fuel costs passed to telcos; electricity charges equally shared among operators; diesel costs shared based on actual usage among operators
Average Contract Tenure 10+ years with annual escalation of 2.5%
Service Level Agreement The MSA incorporates SLA specifying the company's commitment to ensuring site uptime for Telcos.
Payment Terms Advance monthly payment terms
INVESTOR PRESENTATION
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GOVERNMENT SITES AGREEMENTS
Tie-up with Government Agencies MCGM Wards, MMRDA, NHAI, BEST, Monorail, JNPT, SEEPZ, Gujarat & West Bengal Govt.
Sites on Government Establishments Flyovers, Skywalks, Foot over bridge, Highways, Monorail, Bus Depot, CCTV, Pole Sites
Allotment Process Flyovers, Skywalks, Foot over bridge, Highways, Monorail, Bus Depot, CCTV, Pole Sites
Average Contract Tenure 10 Years
Advantages of Government Sites ▪ Low Capex Requirement ▪ Low Rentals ▪ Permission for laying Fiber Optic network is also available which is utmost critical for mobile operators ▪ All Prime & Critical Locations ▪ No threats of termination ▪ High demand sites by all telcos ▪ Contract easily extendable through tenders or Government policies
INVESTOR PRESENTATION
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CCTV SITES
(LINKED BY FIBER CONNECTIVITY)
▪ Our recent introduction of CCTV Pole Sites is a testament to our dedication
to delivering challenging and hard-to-acquire locations, especially in demanding areas like the Mumbai Circle
▪ We continuously adapt our approach to meet Telecom Company’s
specifications, ensuring delivery of unattainable sites across all our circles.
▪
The CCTV Sites in the Mumbai Circle have proven highly successful, characterized by their substantial data generation and minimal operating costs.
▪ Operating in critical and densely populated areas, many of these sites handle
loads exceeding 50 amps.
The risk of site termination is minimal, given approval from local corporations and support from nearby police stations.
Most of our CCTV Sites are linked with Aerial Fiber, equipped with SMPS and 100AH BB.
Additionally, we adhere to Telecom Companies’ requirement of providing an AGL of 12 meters.
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SLUM SITES SEGMENT
Slum Sites are installations situated in densely populated and congested areas
Key Benefits of Slum Locations
High Revenue Generation
Low Site Rentals
Low Termination Risk
Mobile phones have emerged as the primary means of communication and entertainment in slum areas. These sites are extensively used for voice and data networks, proving highly lucrative for telecom companies.
Slum site owners demand affordable rentals, making these sites high-revenue, low-cost locations.
As mobile networks have become a necessity, providing additional revenue to slum site owners, the likelihood of site terminations is minimal.
INVESTOR PRESENTATION
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SMALL CELL TOWERS
(ESSENTIAL 5G BACKBONE)
Fiber Connectivity Seamless deployment for any technology is facilitated by the easy connection of small cells with aerial fiber.
Energy Efficient Savings in the consumption of electricity.
Compact Design Simplified deployment in compact spaces without the need for significant infrastructure.
Low Rentals Reduced rental costs enable the formulation of more ambitious deployment plans.
Less Capex Minimal Capex needs allowing for more extensive rollout planning by telecom companies.
4000+ “Operational Small Cell Tenancies” as on 31st Mar, 2025
Latest Advancement in the telecom sector
Prospective Growth Driver for the Indian Telecom Tower Industry
SUYOG is strategically positioned in every crucial telecom circle throughout India in the Small Cell segment.
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STREAMLINED OPERATIONS - SERVICE RELIABILITY & QUALITY
In-House Maintenance Services for Tower and Fiber ▪ Streamlined in-house maintenance processes for telecom towers and fiber networks ▪ Ensuring higher reliability, quicker response times, and reduced downtime to enhance service quality
Upgrading Power Management Systems ▪ Installing Lithium batteries to replace traditional VRLA batteries, offering a longer lifespan and reduced
maintenance needs
▪ exploring alternative advanced battery technologies to optimize performance and cost-effectiveness, further
enhancing uptime planning and operational efficiency
Automation of multiple services like Operations, Billing System, Vendor Management System, Warehouse Management System, among others.
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ONGOING R&D INITIATIVES
R&D INITIATIVES AIMING TO REDUCE OPERATIONAL COSTS AND POSITION SUYOG AS A LEADER IN TELECOM INNOVATION.
Electricity Bill Reduction Installation of wind turbines at select telecom towers on a trial basis to decrease energy costs, reducing operational expenses for telecom operators.
Improved Cash Flow Anticipated savings from reduced electricity bills shall help in enhancing Suyog’s cash flow.
FTTH R&D Initiatives Developing vertical wiring solutions for FTTH installations within ducts, thereby optimizing space utilization, improving installation efficiency, and enhancing service delivery speed.
Low Orbit Satellite Development Exploring low orbit satellite technology and ground receiver systems to improve connectivity, expand market reach & enhance service portfolio.
Trial Initiated in Q4 FY25
For Zinc batteries as a cost-efficient power backup solutions, offering similar utility to lithium batteries (Zinc is abundant, while lithium is scarce).
Zinc batteries are ready at the supplier's factory, and trials at Suyog sites are scheduled for Diwali.
For a low-cost, highly efficient SMPS system designed for multi-operator sites
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STRATEGIC EXPANSION INTO DELHI CIRCLE (1/2)
(ACQUISITION OF LOTUS TELE INFRA)
Overview of Lotus Tele Infra & Key Acquisition Highlights
Lotus Tele Infra Private Limited
Post-Acquisition
▪ Incorporated on October 19, 2016
▪ Lotus Tele Infra becomes a subsidiary (95%) of Suyog
▪ Registered with the Department of Telecommunications
Telematics Ltd
▪ Provides Passive Telecom Infrastructure (IP-1)
▪ Operates in the critical Delhi & NCR Region
▪ 120 Telecom Sites Owned
▪ Major Tenants – Bharti Airtel & Reliance Jio
▪ Enhance Suyog’s infrastructure and service offerings
within the telecommunications sector.
▪ Opportunity for Suyog to increase tenancies by sharing sites with other potential mobile operators of India.
Exchange Notification for completion of Acquisition of Lotus Tele Infra Pvt Ltd
Acquisition Highlights
Acquisition Date: 31st March 2025
Consideration Amount: INR 13.5 Crores
Equity Structure: Suyog Telematics Ltd – 95% Promoter Group – 5%
INVESTOR PRESENTATION
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STRATEGIC EXPANSION INTO DELHI CIRCLE (2/2)
(ACQUISITION OF LOTUS TELE INFRA)
Strategic Rationale & Synergistic Benefits for Suyog Telematics
Strong Strategic Fit
▪ Immediate presence in the Delhi Circle, one of India’s most critical and competitive telecom markets, especially from a site acquisition perspective. ▪ Delhi Circle now becomes one of the largest operational zones for Suyog. ▪ Enhances national footprint by complementing existing presence in the Mumbai Circle.
Operational Synergies
▪ Acquisition adds 120 telecom sites to Suyog’s asset base. ▪ Existing tenancy with Bharti Airtel and Reliance Jio provides a robust revenue foundation. ▪ 50% increase in tenancies projected within 6 months, with onboarding of Vodafone and BSNL.
Growth Opportunities
▪ High potential for small cell deployment, aligned with Vodafone’s 5G rollout strategy. ▪ Expands monetization potential through multi-tenant site sharing and infrastructure optimization.
Competitive Edge
▪ Presence in both Mumbai (Financial Capital) and Delhi (National Capital) Circles positions Suyog as one of the leading IP-1 infrastructure player. ▪ Enhances Suyog’s brand equity and market credibility with telecom operators and regulatory bodies.
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KEY COMPETITIVE STRENGTHS
Tenancies Operations across 15 key telecom circles (26 states & UTs) with a PAN INDIA VISION
Diverse telecom operators Engaged with major telecom operators, including Bharti Airtel, Reliance Jio, Vodafone Idea, Tata, and BSNL.
IP-1 License holder Niche Telecom Infrastructure Providing Organisation
Government locations Highest Number of Government Sites – MMRDA, NHAI, BEST, Monorail, JNPT, MCGM, and more.
Geographical footprint Over 6400+ tenancies encompassing Slum Sites, Flyovers, Sky Walks, Foot over Bridges, BEST, Monorail, CCTV, Small Cell, and ULS Sites in the portfolio.
Expertise 25 years of expertise in constructing telecom towers, specializing in cost-effective and swiftly deployed infrastructure.
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Minimised Turnaround Duration
Cost-Effective Business Model
Tower Erection Services
Pole Erection Services
Our Services
Range of Towers
Fiber Optics Network Solutions
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CLIENTELE
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03
Industry Overview
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TELECOM INDUSTRY OVERVIEW (1/2)
Telecom
Telephone Subscription
Tele-density
Mobile (Wireless Connection)
Fixed Line (Wired Connection)
Oct 2024
3.2%
Internet Services (ISP)
Mar 2024
2.8%
96.8%
97.2%
Oct 2024
Mar 2024
55.6%
44.4%
54.4%
45.6%
Wireless Wireline
Urban
Rural
2nd largest telecommunication market
2nd highest number of internet users
2nd rank in “International Mobile Broadband Internet Traffic” & “International Internet Bandwith”
1188.20 Mn
Total Telephone Subscriber Base (as on Oct 2024)
INR 2.4 Lakh Crore
Gross Revenue From Telecom Sector (FY24)
INVESTOR PRESENTATION
Source: IBEF, TRAI, ET Telecom & Others
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TELECOM INDUSTRY OVERVIEW (2/2)
SHIFT
From
To
Traditional Approach Telecom operators have invested heavily in building and maintaining their own networks by investing in physical infrastructure
NaaS Approach Network-as-a-Service enabled operators to lease network resources from third-party providers, reducing the need for extensive physical infrastructure.
This shift has allowed Telecom operators to scale their operations rapidly, adapt to changing market demands, and allocate resources efficiently, being more flexible and cost-effective.
India's 5G subscriptions to have 350 million by 2026, accounting for 27% of all mobile subscriptions.
The Government of India has introduced Digital India programme where sectors such as healthcare, retail, etc. will be connected through Internet.
INVESTOR PRESENTATION
Source: IBEF, TRAI, ET Telecom & Others
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PASSIVE INFRASTRUCTURE INDUSTRY OVERVIEW
The robust and state of the art TELECOM INFRASTUCTURE has been the fundamental backbone for the growth of telecom services and the unprecedented success of India’s Telecom Sector.
Indian Telecom Infrastructure Industry
Laid a strong foundation of growth for the telecom sector.
Supported the telecom sector in keeping pace with fast-paced technology advancements
Before 2000
In 2000
Up To 2005
After 2005
Telecom service providers were installing towers on their own and no sharing of infrastructure.
Telecom Infrastructure Industry came into existence with DoT inviting applications for IP-1 registrations.
Telecom Towers were operated under integrated model without sharing of infrastructure.
INVESTOR PRESENTATION
Telecom Towers industry evolved with independent tower companies installing and maintaining towers and related Infrastructure & leasing it to Telcos and sharing of infrastructure by these tower infrastructure companies.
Source: IBEF, TRAI, ET Telecom & Others
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EMPOWERING FASTER PASSIVE INFRASTRUCTURE EXPANSION (A REGULATORY BREAKTHROUGH)
Central Telecom Framework (Key Policy Update):
▪ Adoption of Telecommunications Act, 2023 (effective June 26, 2024)
▪
Implementation of Telecom Right of Way Rules, 2024 (effective January 1, 2025)
Implications for IP-1 Providers
Regulatory Shift ▪ State-level alignment with Central law ▪ Standardized Right of Way (RoW) charges & timelines ▪ Simplified permissions for telecom infra (towers, fiber, 5G small cells) ▪ Superseding legacy state policies ▪ Focus on 5G & Digital Growth
Strategic Benefit to IP-1 ▪ Uniform, streamlined approval process ▪ Reduced costs, faster deployment ▪ Accelerated rollout, improved asset utilization ▪ Lower administrative burden ▪ Increased demand from telcos & enterprises
INVESTOR PRESENTATION
Source: IBEF, TRAI, ET Telecom & Others
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Stronger Policy Support = Faster Deployment of Infrastructure
04
Way Forward
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NEAR TERM STRATEGIC GOALS & EXPECTATIONS
TOWER ADDITION
NEW TOWERS FOR MTNL
NEW SMALL CELL TOWERS
3000+
500+
1000+
Cumulative Macro Towers for Vodafone & BSNL for FY26
In Mumbai Circle scheduled for FY26
Small Cell Towers for FY26
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WAY FORWARD
5G-Ready Urban Infrastructure
Our high-power small cell infrastructure is preparing urban cities for the advent of 5G technology.
Rural 5G Connectivity
Bringing 5G Connectivity to Rural Villages through Our RLS Sites
Revolutionary FTTH
Empowering Homes with Unprecedented 5G Speed through Our FTTH Solution
Fiber Boost for 5G
Fiberizing Mobile Towers for accelerated 5G Deployment
Inorganic Growth with Acquisitions
Strategically pursuing acquisitions to enhance our next-generation connectivity solutions and expand our portfolio.
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BSNL
(THE GROWTH PERSPECTIVE)
Offering a comprehensive range of telecom services, including wireline and wireless local loop (WLL) telephone services, mobile services, broadband, internet, leased circuits, and long-distance telecom services.
GOVERNMENT’S OBJECTIVE
BSNL’S STRATEGIC PLAN
▪ Reposition BSNL as a resilient telecom
▪ Nationwide deployment of 4G and 5G
service provider with a particular emphasis on bridging connectivity gaps in remote regions of India.
coverage, along with the provision of high- speed internet through Fixed Wireless Access (FWA) services.
▪ Start its 5G services in 2024 (as stated in January 2023 by the telecom minister).
▪ The Union cabinet has granted approval for
a comprehensive revival package amounting to Rs. 89,047 crore ($10.79 billion) for BSNL, encompasses the allocation of 4G/5G spectrum through equity infusion.
▪ The approved package extends budgetary support for various spectrum bands, laying the foundation for BSNL's technological advancement and enhanced service offerings.
INVESTOR PRESENTATION
Source: TOI, IBEF
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BUSINESS UPDATE (BSNL)
The company has the potential to cover for non performing IPs, for BSNL, thereby increasing the potential tower count with BSNL
Aggressive Roll out of New Sites across India on IP-1 model
01
Lock-In for a period of 10 years
04
Rollout of Relocation Sites across India
New Circles Added Mumbai & Delhi
02
03
PAN India MSA Agreement for 15 years with
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OUR GROWTH DRIVERS (1/2)
BSNL’s 4G/5G Rollout (Nationwide)
Small Cell Towers
▪ BSNL targets nationwide 4G rollout by Aug 2024, followed by
▪ Small cells are fundamental for nationwide 5G deployment.
transition to 5G services.
▪ A prominent company secures large telecom equipment order for 100,000 sites, aiding BSNL's transition to 4G with potential for 5G upgrade.
▪ BSNL partnered with multiple tower infrastructure companies to provide crucial tower infrastructure for widespread 4G network expansion.
▪ Mr. T. R. Dua of DIPA estimates a need for ~12,00,000 towers for
PAN India 5G rollout, with ~7,50,000 towers already in place, set to be upgraded to 5G via fiberization.
▪ Suyog is expanding its small cell tower infrastructure to support the
5G rollout for various operators.
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OUR GROWTH DRIVERS (2/2)
Optical Fiber Cable (OFC) Network
Fiber-to-the-Home (FTTH) Network
▪ Fiberization links mobile towers with optical fiber cables, crucial for
▪ The rise in IoT devices emphasizes the necessity for strong
5G deployment.
network infrastructure.
▪ It's essential for upgrading existing telecom tower infrastructure.
▪ 5G integration in FTTH facilitates seamless IoT device integration,
▪ Suyog is actively transitioning towers from microwave to optical
fiber technology.
▪ Suyog is involved in projects aimed at deploying FTTH networks.
promoting smart homes, cities, and interconnected systems.
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05
Financial Highlights
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FINANCIAL STATEMENT (Q4 & FY25)
Particulars (Standalone - INR Mn)
Q4FY25
Q3FY25
Q4FY24
YoY%
Revenue from Operations Total Expenditure Cost of Materials Consumed Employee Benefit Expenses Other Expenses EBITDA EBITDA Margin (%) Other Income Depreciation EBIT Interest Profit Before Tax (before exceptional) Exceptional Item Profit Before Tax (after exceptional) Tax Reported Net Profit Adjusted Net Profit Net Profit Margin (%) Adjusted Net Profit Margin (%) Reported Earnings Per Share (Rs) Adjusted Earnings Per Share (Rs)
500.6 143.3 35.6 **63.3 44.4 357.2 71.4 0.8 127.4 230.6 46.5 184.1 **275.0 (90.9) 46.9 (137.8) 137.2 (27.5) 27.4 (11.74) 12.32
487.8 146.8 55.8 55.7 35.3 341.0 69.9 11.7 116.9 235.9 41.1 194.8 - 194.8 23.0 171.8 171.8 35.2 35.2 15.90 15.90
453.6 168.6 23.2 39.2 106.3 285.0 62.8 24.7 105.0 204.7 41.5 163.3 Small Cell Towers - 163.3 6.1 157.2 157.2 34.6 34.6 14.74 14.74
10.4 (15.0) 53.9 61.7 100.0 25.3 +853 bps (96.9) 21.3 12.6 12.1 12.7 - (100.0) 667.3 (100.0) (12.7) -6218 bps -724 bps (100.0) (16.4)
FY25
1,925.7 549.4 194.7 **201.7 153.0 1,376.3 71.5 89.5 465.1 1,000.7 165.7 835.0 **275.0 560.0 154.5 405.5 680.5 21.1 35.3 34.55 61.13
FY24
1,666.1 492.7 173.4 170.9 148.5 1,173.4 70.4 76.6 341.0 909.0 195.0 714.0 - 714.0 80.9 633.1 633.1 38.0 38.0 59.38 59.38
YoY%
15.6 11.5 12.3 18.0 3.1 17.3 +104 bps 16.8 36.4 10.1 (15.0) 17.0 - (21.6) 91.0 (35.9) 7.5 -1694 bps -266 bps (41.8) 2.9
Note: For detailed explanations and context behind the figures presented above, including adjustments related to ESOP charges, margin analysis, and revenue recognition, please refer to the Supporting Notes on the next page.
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FINANCIAL HIGHLIGHTS & SUPPORTING NOTES
ESOP Adjustment for Clarity ** Employee Benefit Expenses include an ESOP charge of INR 275 Mn (difference between exercise price and fair value as per Registered Valuer’s Fair Valuation Report) in Q4 & FY25. This notional item is excluded from Employee Benefit Expenses (included as an exceptional item) for like- to-like comparison.
Improved EBITDA Margin (Ex-ESOP) EBITDA Margin (excluding ESOP charge) for Q4’FY25 stands at 71.4%, represents a +853 bps YoY increase, driven by operational efficiency and cost control.
Strong Adjusted Net Profit Margin Adjusted Net Profit Margin (ex-ESOP) is 27.4% for Q4’FY25 & 35.3% for FY25, reflects consistent profitability and strong bottom-line management.
Robust Cash Flow Generation (FY25) • Cash generated from operations: INR 710.6 Mn • Free Cash Flow (Net Increase in Cash & Cash Equivalents): INR 211.0
Mn vs INR 14.8 Mn in FY24
Revenue Recognition from Completed Contractual Obligations Total accrued/provisional revenue recognized: INR 240 million, including: • • •
INR 43.1 million from Fiber & FTTH vertical (Private Operator, From Apr’24 to Mar’25) INR 189.0 million from pole rental (Government Operator – 1,050 sites, From Oct’24 to Mar’25) INR 7.9 million from pole rental (Private Operator, From Oct’24 to Mar’25)
INVESTOR PRESENTATION
41
BALANCE SHEET
Particulars (Standalone - INR Mn)
FY23
FY24
FY25
Particulars (Standalone - INR Mn)
FY23
FY24
FY25
EQUITY & LIABILITIES
Shareholders' Fund
Share Capital
Other Equity
Non-Current Liabilities
Financial Liabilities
Provisions
Deferred Tax Liabilities (Net)
Current Liabilities
Financial Liabilities excl. Payable
Trade Payables
Provisions
Income Tax Liabilities (Net)
Other Current Liabilities
2,342.6
2,983.9
4,003.8
Non-Current Assets
3,770.6
4,131.6
4,987.4
104.8
106.6
111.3
Property, Plant & Equipment
2,676.4
2,736.8
3,114.2
ASSETS
2,237.8
2,877.3
3,892.5
Right of use Assets
696.4
897.9
28.4
26.9
341.0
1.5
71.3
20.7
404.9
-
970.5
461.7
15.9
425.1
-
1,421.2
1,235.6
1,592.0
Intangible Assets
1,084.0
964.4
1,309.5
Financial Assets
Capital WIP
10.7
271.8
Other Non-Current Assets
9.4
327.8
1,033.9
535.1
409.0
80.7
-
9.1
9.0
262.2
781.5
568.8
160.9
41.6
-
10.2
Current Assets
1,027.2
869.4
1,769.1
1,160.6
Inventories
842.2
171.0
90.8
17.4
39.2
Financial Assets excl. Receivables
Trade Receivables
Income Tax Assets (Net)
Other Current Assets
53.2
309.1
405.5
14.5
244.9
73.2
61.1
461.9
2.6
270.8
79.8
456.6
630.2
-
602.5
Total
4,797.8
5,001.0
6,756.4
Total
4,797.8
5,001.0
6,756.4
INVESTOR PRESENTATION
42
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