NELCOInformation Technology

NELCO Limited

Computers Hardware & Equipments · ISIN INE045B01015 · BSE 504112 · NSE EQ · FV ₹10
Last price
₹965
+2.90%today
What this company does

NELCO Limited operates in Computers Hardware & Equipments, part of the Information Technology sector. It booked ₹80 cr of revenue in its latest quarter (Q1 FY27) and kept 2.9% of sales as profit. It is the 4th largest of 9 Computers Hardware & Equipments companies we track, by market value.

The Company is primarily engaged in the business of providing an SD-WAN solution to organizations to improve their network performance, reliability and security.
In the report:
39out of 100
Equitytale Health Score
Strained

Healthier than 39% of companies in Information Technology, on all six measures of filed financials. Each measure is ranked against the 67–123 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
54

At close. Not part of the score.

Profitability & returns34

How much profit it earns on the money it employs

Balance sheet17

How much it owes, and whether earnings cover the interest

Cash quality87

Whether reported profit actually arrives as cash

Growth & consistency28

Whether sales and profit have grown, and how steadily

Valuation3

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 7% vs last year
Profit up 30% vs last year
Promoters hold 50%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 2.9% net margin
! Low 7.3% return on equity

What if I invest in NELCO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹965 +2.90%
latest close · 2026-09-17
1-year return
+103.4%
52-wk low ₹45352-wk high ₹1,120
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio236.6High
LowAverageHigh
P/B ratio17.10High
Below bookModerateHigh
EV / EBITDA58.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.3%Weak
WeakFairStrong ▸15%
Return on capital12.6%Fair
WeakFairStrong
Net margin2.9%Thin
ThinDecentStrong
EBITDA margin11.9%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.46Comfortable
LowModerateHigh ▸1
Interest cover3.5×Okay
RiskyOkayStrong ▸5×
Current ratio0.88Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹2,203 cr
Book value
₹56
EPS
₹1.02
latest quarter
Net debt
₹39 cr
owes more than its cash
Enterprise value
₹2,242 cr
EBITDA
₹38 cr
annualised
EBIT
₹18 cr
annualised
Operating margin
5.5%
Return on assets
2.7%
Earnings yield
0.42%
P/S
6.88
Sales / share
₹140.3
Tax rate
25.2%
Face value
₹10
Shares
2.3 cr
Working capital
₹-25 cr
Current assets
₹182 cr
Current liabilities
₹207 cr
Delivery %
38.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹45₹126, midpoint ₹89

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹80 cr
Other Income₹14 L
Total Income₹80 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹3 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹13 cr
Finance Costs₹1 cr
Depreciation & Amortisation₹5 cr
Other Expenses₹52 cr
Total Expenses₹78 cr
Exceptional Items₹1 cr
Profit before Tax₹3 cr
Tax Expense₹79 L
Net Profit₹2 cr
Net margin on total income2.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹7 cr8.5%
Employee benefit expense₹13 cr16.3%
Finance costs₹1 cr1.6%
Depreciation & amortisation₹5 cr6.3%
Other expenses₹52 cr63.5%
Tax expense₹79 L1.0%
Profit for the period₹2 cr2.9%
Total income ₹80 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue78 cr79 cr80 cr
Total income79 cr81 cr80 cr
Expenses77 cr79 cr78 cr
Profit before tax-2 cr2 cr3 cr
Tax-54 L66 L79 L
Net profit (owners' share)-1 cr1 cr2 cr
Net margin (owners' share, on revenue)-1.5%1.4%2.9%
EPS (₹)-0.520.481.02
YoY (latest quarter): total income +6.4% · net profit +30.0%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹347 cr
Shareholder equity
₹129 cr
parent shareholders
Total debt
₹59 cr
Cash
₹19 cr
Cash flow · H1 FY26
Operating
₹11 cr
Investing
₹-9 cr
Financing
₹13 cr
Peer comparison
Computers Hardware & Equipments · by market value
CompanyPriceMarket capP/E
GNG Electronics Limited₹662₹7,543 cr65.1
Rashi Peripherals Limited₹807₹5,317 cr12.9
Moschip Technologies Limited₹208₹4,042 cr400.1
NELCO Limitedthis company₹965₹2,203 cr236.6
D-Link (India) Limited₹425₹1,508 cr13.6
Ivalue Infosolutions Limited₹228₹1,246 cr20.0
Control Print Limited₹604₹965 cr61.6
TVS Electronics Limited₹404₹753 cr
Dc Infotech And Communication Limited₹283₹464 cr24.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.10%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 9 Jun 2026
ActionDetailEx-date
Dividend₹1 / share9 Jun 2026
Dividend₹1 / share9 Jun 2025
Dividend₹2.2 / share10 Jun 2024
Dividend₹2 / share6 Jun 2023
Dividend₹1.8 / share21 Jun 2022
Dividend₹1.2 / share7 Jun 2021
Who owns it · 2026-06-30
No pledge
Promoter
50.1%
FII / Foreign
5.6%
DII / Domestic
0.1%
Retail / others
44.2%
Smart-money activity
Bulk / block deals
BoughtQE SECURITIES LLP · NSE1.18 L @ ₹969.5918 Aug 26
SoldQE SECURITIES LLP · NSE1.17 L @ ₹979.6818 Aug 26
SoldHRTI PRIVATE LIMITED · NSE2.73 L @ ₹975.0818 Aug 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 24 Jun 2025
See the official result
1
To receive, consider and adopt the Audited Financial Statements for the financial year ended 31st March 2025 together with the Reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
6.00 L votes for, 558 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements for the financial year ended 31st March 2025 together with the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
6.00 L votes for, 558 against · 0% of mutual funds and other big investors said no
3
To declare a dividend on Equity Shares for the financial year ended 31st March 2025.
Backed by 100% of shareholders other than promotersneeded 50%
6.00 L votes for, 558 against · 0% of mutual funds and other big investors said no
4
To appoint a director in place of Mr. Saurabh Ray (DIN 09573704) who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
6.00 L votes for, 558 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 89 named members
owning 50.1% between them · as of 2026-06-30
The Tata Power Company Limited50.04%
Aftaab Investment Company Limited0.04%
Bhira Investments Pte. Ltd.no shares
Bhivpuri Investments Ltd.no shares
Brihat Trading Pvt Ltdno shares
Dagachhu Hydro Power Corporation Limitedno shares
Dorjilung Hydro Power Limitedno shares
Dugar Hydro Power Limitedno shares
Business done with them
FY2026 · 7 of the group
The company paid ₹12 cr to companies in the promoter group last year — about 4.0% of its ₹307 cr revenue and received ₹34 L back from them.
Piscis Networks Private Limited
Bought goods from them · As detailed in taxanomy below
₹11 cr
company paid
The Tata Power Company Limited
Other payments to them · As detailed in taxanomy below
also owns 50.04% of the company
₹1 cr
company paid
Tata Sons Private Limited
Other payments to them · As detailed in taxanomy below
₹61 L
company paid
TP Southern Odisha Distribution Limited
Provided services to them · As detailed in taxanomy below
₹11 L
company received
Piscis Networks Private Limited
Other income from them · As detailed in taxanomy below
₹10 L
company received
TP Southern Odisha Distribution Limited
Sold goods to them · As detailed in taxanomy below
₹7 L
company received
Tata Power Renewable Energy Limited
Provided services to them · As detailed in taxanomy below
₹3 L
company received
Tata Sons Private Limited
Paid them for services · As detailed in taxanomy below
₹2 L
company paid
TP Kirnali Limited
Provided services to them · As detailed in taxanomy below
₹2 L
company received
Poolavadi Windfarm Limited
Provided services to them · As detailed in taxanomy below
₹1 L
company received

The company also transacted with 20 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.