Tata Teleservices Maharashtra logo

Tata Teleservices Maharashtra

TTML NSE

Key Fundamentals

MicrocapTelecom Service ProviderTelecom
Market Cap
₹6,922 Cr
Volatility
Moderate
P/E Ratio
187.37
EBITDA
₹633 Cr
Return on Equity
1.08%
Debt to Equity
0
Book Value
₹-141.71
52W High
₹60.62
52W Low
₹31.22

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Debtor days have improved from 39.4 to 30.0 days.

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.14% over past five years.
  • Earnings include an other income of Rs.666 Cr.

Growth Rate

Revenue Growth
-11.22% lower than 3Y
Net Income Growth
-83.12% lower than 3Y
Cash Flow Change
32.16% higher than 3Y
ROE
-83.44% lower than 3Y
ROCE
40.5% higher than 3Y
EBITDA Margin (Avg.)
21.46% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Tata Teleservices (Maharashtra) Ltd operates with a market cap of ~₹8,332 Cr, negative book value (PB of -0.3), and a PE of -38.9 reflecting continued losses. FY26 revenue declined 11.3% to ₹1,160 Cr while the net loss narrowed sharply to ₹215 Cr from ₹1,275 Cr in FY25, aided by ₹670 Cr of other income and lower finance costs.

Bull Case 7
  • Net loss narrowed 83% from ₹1,275 Cr in FY25 to ₹215 Cr in FY26, showing improving profitability trajectory
  • Operating profit margin expanded to 52.6% in FY26 from 43.7% in FY25, indicating better cost efficiency on a lower revenue base
  • Tata Sons infused ₹5,166 Cr into parent TTSL during FY26, demonstrating strong promoter commitment to meet AGR obligations
  • Promoter holding remains high at ~74.4%, with Tata Group backing providing implicit financial support through letters of comfort
  • Debtor days improved from 39.4 to 30.0 days, reflecting tighter working capital management
  • Operating profit grew from ₹470 Cr in FY22 to ₹617 Cr in FY26 — a steady CAGR of ~7% at EBITDA level over four years
  • Enterprise connectivity business benefits from India's ongoing digital transformation and demand for managed services, providing a stable revenue base
Bear Case 8
  • Revenue declined 11.3% YoY in FY26 to ₹1,160 Cr, with 5-year sales CAGR of just 2.1%, indicating structural top-line weakness
  • Company has deeply negative net worth with reserves of approximately -₹29,659 Cr, resulting in a negative book value of -₹141.71 per share
  • Interest costs of ₹1,361 Cr in FY26 vastly exceed operating profit of ₹617 Cr, reflecting very low interest coverage ratio
  • FY26 earnings quality is poor — ₹670 Cr of other income constitutes ~58% of revenue, without which the company would report a far deeper loss
  • AGR-related deferred payment obligations for the TTML entity alone stand at ₹3,367 Cr, creating long-term liability overhang
  • Stock has declined 35% over 1 year and 16% CAGR decline over 3 years, reflecting persistent market skepticism
  • Zero dividend yield with no payout history, offering no income return to shareholders
  • Negative PE (-38.9) and negative PB (-0.3) make traditional valuation frameworks inapplicable, signalling balance sheet distress

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Headwinds 2
  • TRAI penalty for QoS violations Jun 9

    TTML received a Rs 2 lakh financial disincentive from TRAI for quality of service violations in broadband services for the quarter ending June 2025.

  • CGST penalty of Rs 7.57 Cr Jun 24

    CGST order imposed a reduced penalty of Rs 7.57 Cr (down from Rs 36.14 Cr). Company disputes the order and plans to appeal.

Positives 1
  • TTBS MSME campaign launch Jun 25

    Tata Tele Business Services launched #RozBanateHainNayaKal campaign on MSME Day 2026, positioning the brand as a growth partner for India's MSME segment.

Neutral 1
  • Trading window closed for Q1 results Jun 22

    TTML closed its trading window for designated persons from July 1, 2026, until 48 hours after the Board meeting to approve Q1FY27 financial results.

TL;DR: TTML faces minor regulatory headwinds with a Rs 2 lakh TRAI penalty and a Rs 7.57 Cr CGST demand (under appeal). On the positive side, TTBS is actively building brand presence in the MSME segment. Overall newsflow is light with no material business developments; the upcoming Q1FY27 results will be the next key catalyst to watch.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
286
287
296
323
324
344
333
308
284
286
294
296
302
Expenses
161
159
157
182
188
205
182
155
138
146
119
132
137
Operating Profit
125
128
139
141
135
138
150
153
147
140
175
163
165
OPM %
44%
44%
47%
44%
42%
40%
45%
50%
52%
49%
60%
55%
55%
Other Income
4
2
3
3
5
2
1
2
-2
2
-2
665
2
Interest
394
403
411
414
423
429
423
419
433
425
288
215
206
Depreciation
36
36
38
39
41
42
43
42
37
37
36
32
33
PBT
-301
-310
-308
-309
-323
-330
-315
-306
-325
-321
-150
581
-72
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Net Profit
-301
-310
-308
-309
-323
-330
-315
-306
-325
-321
-150
581
-72
EPS in Rs
-1.54
-1.59
-1.57
-1.58
-1.65
-1.69
-1.61
-1.57
-1.66
-1.64
-0.77
2.97
-0.37
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,893
2,972
2,703
1,869
1,277
1,078
1,044
1,094
1,106
1,192
1,308
1,160
1,178
Expenses
2,292
2,227
2,057
1,734
614
656
555
626
614
664
737
543
534
Operating Profit
601
745
646
135
664
422
489
468
492
527
571
617
643
OPM %
21%
25%
24%
7%
52%
39%
47%
43%
45%
44%
44%
53%
55%
Other Income
45
40
-924
-7,875
400
-2,396
-756
17
11
16
16
670
666
Interest
651
684
1,282
1,569
1,554
1,545
1,561
1,539
1,502
1,622
1,694
1,361
1,134
Depreciation
611
460
796
533
178
195
169
160
147
150
168
142
138
PBT
-615
-358
-2,356
-9,842
-668
-3,714
-1,997
-1,215
-1,145
-1,228
-1,275
-215
38
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Net Profit
-615
-358
-2,356
-9,842
-668
-3,714
-1,997
-1,215
-1,145
-1,228
-1,275
-215
38
EPS in Rs
-3.15
-1.83
-12.05
-50.35
-3.42
-19
-10.21
-6.22
-5.86
-6.28
-6.52
-1.1
0.19
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
1,955
1,955
1,955
1,955
1,955
1,955
1,955
1,955
1,955
1,955
1,955
1,955
Reserves
-4,923
-5,941
-7,864
-17,114
-16,775
-19,434
-20,446
-20,787
-21,009
-21,208
-21,525
-21,938
Borrowings
7,410
11,654
16,220
15,578
16,545
16,895
19,539
19,794
19,869
20,047
20,416
20,869
Other Liabilities
1,602
1,794
1,595
2,961
2,805
2,298
461
403
397
513
458
455
Total Liabilities
6,044
9,462
11,906
3,380
4,531
1,714
1,509
1,365
1,211
1,307
1,304
1,341
Fixed Assets
4,188
3,363
7,460
847
718
894
830
779
740
788
798
939
CWIP
46
4,246
2,504
27
26
39
29
28
34
59
35
28
Investments
0
592
680
378
609
0
70
100
66
34
58
23
Other Assets
1,809
1,260
1,263
2,129
3,178
781
580
457
369
425
413
351
Total Assets
6,044
9,462
11,906
3,380
4,531
1,714
1,509
1,365
1,211
1,307
1,304
1,341
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
636
766
730
603
-734
-360
567
530
558
586
505
668
Investing
-785
-1,183
-2,198
259
-101
510
-177
-130
-66
-64
-109
-91
Financing
177
434
1,041
-860
967
-237
-432
-427
-494
-503
-386
-604
Net Cash Flow
28
18
-427
2
132
-87
-42
-26
-2
18
10
-27
Free Cash Flow
-149
513
-1,401
526
-861
-469
457
426
449
482
413
535
CFO/OP
114
97
110
417
-110
-80
108
111
110
115
87
110
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
25
36
31
31
26
41
27
40
36
48
40
30
Cash Conversion Cycle
25
36
31
31
26
41
27
40
36
48
40
30
Working Capital Days
-448
-679
-893
-1,775
-3,110
-4,188
-3,370
-3,058
-3,310
-2,239
-2,724
-5,675
ROCE %
1%
5%
-1%
-5%
50%
42%
147%
32%
40%
48%
50%
56%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Tata Teleservices Maharashtra insights

28 extracted metrics + investor summaries across FY15–FY26.

Log in — free

Shareholding Pattern

DIIs0.18%Promot.74.36%Others1.94%FIIs2.52%Public21.00%As ofJun 2026

Documents

Frequently Asked Questions about Tata Teleservices Maharashtra

What does Tata Teleservices (Maharashtra) Ltd do?
Tata Teleservices Ltd is engaged in the business of Wired and wireless telecommunication activities and holds a Unified License with Access Service Authorisation in Maharashtra and Goa and also as in Internet Service Provider Category The co. is focused on providing various wireline voice, data...
Where is Tata Teleservices (Maharashtra) Ltd (TTML) listed?
Tata Teleservices (Maharashtra) Ltd trades as TTML on the NSE and under code 532371 on the BSE.
Which sector does Tata Teleservices (Maharashtra) Ltd belong to?
Tata Teleservices (Maharashtra) Ltd is classified under the Telecommunication sector, in the Telecom - Services industry.
What is the market capitalisation of Tata Teleservices (Maharashtra) Ltd?
Tata Teleservices (Maharashtra) Ltd has a market capitalisation of ₹6,922 Cr, which places it in the Mid Cap band.
What is the PE ratio of Tata Teleservices (Maharashtra) Ltd?
Tata Teleservices (Maharashtra) Ltd trades at a PE ratio of 187.37, against a book value of ₹-141.71 per share.
What is the 52-week high and low of Tata Teleservices (Maharashtra) Ltd?
Over the last 52 weeks Tata Teleservices (Maharashtra) Ltd has traded between ₹31.22 and ₹60.62.
What is the Return on Equity (ROE) of Tata Teleservices (Maharashtra) Ltd?
Tata Teleservices (Maharashtra) Ltd reported a return on equity of 1.08%. Its debt-to-equity ratio is 0.00.

Company Information

Tata Teleservices Ltd is engaged in the business of Wired and wireless telecommunication activities and holds a Unified License with Access Service Authorisation in Maharashtra and Goa and also as in Internet Service Provider Category The co. is focused on providing various wireline voice, data, and managed telecom services. [1][2]

Website tatateleservices.com
CEO Mr. Harjit Singh Chauhan
Employees 390
Listed 2000-10-20
Face Value ₹ 10
Issued Size 1,95,49,27,727

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/TTML.md for Tata Teleservices (Maharashtra) Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Telecommunication → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List