New Risk • Jan 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹904.7m (US$9.94m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹296m free cash flow). Earnings have declined by 37% per year over the past 5 years. Market cap is less than US$10m (₹904.7m market cap, or US$9.94m). New Risk • Nov 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹861.7m (US$9.73m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹385m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (₹861.7m market cap, or US$9.73m). Announcement • Nov 05
Steelman Telecom Limited to Report Q2, 2026 Results on Nov 14, 2025 Steelman Telecom Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 14, 2025 Announcement • Jul 10
Steelman Telecom Limited, Annual General Meeting, Aug 30, 2025 Steelman Telecom Limited, Annual General Meeting, Aug 30, 2025, at 12:00 Indian Standard Time. Location: mani casadona, flat no - 15e1, floor no. 15, plot no - iif/04, street no - 372, action area-iif, newtown, kolkata - 700156., kolkata India Announcement • Jul 03
Steelman Telecom Limited, Annual General Meeting, Jul 10, 2025 Steelman Telecom Limited, Annual General Meeting, Jul 10, 2025. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹96m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 55% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (₹1.68b market cap, or US$19.7m). Announcement • May 21
Steelman Telecom Limited to Report Q4, 2025 Results on May 30, 2025 Steelman Telecom Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • Nov 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹81m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 47% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.22b market cap, or US$14.5m). Announcement • Nov 09
Steelman Telecom Limited to Report Q2, 2024 Results on Nov 14, 2024 Steelman Telecom Limited announced that they will report Q2, 2024 results on Nov 14, 2024 Reported Earnings • Jul 27
Full year 2024 earnings released: ₹3.29 loss per share (vs ₹0.96 profit in FY 2023) Full year 2024 results: ₹3.29 loss per share (down from ₹0.96 profit in FY 2023). Revenue: ₹2.21b (up 64% from FY 2023). Net loss: ₹31.8m (down 484% from profit in FY 2023). Announcement • Jul 11
Steelman Telecom Limited, Annual General Meeting, Aug 20, 2024 Steelman Telecom Limited, Annual General Meeting, Aug 20, 2024, at 12:00 Indian Standard Time. Location: mani casadona, flat no. 15e1, floor no.-15, plot no. -iif/04, street no.- 372. action area-iif, new town, kolkata - 700156, kolkata India New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (₹1.23b market cap, or US$14.7m). Announcement • May 25
Steelman Telecom Limited to Report Fiscal Year 2024 Results on May 30, 2024 Steelman Telecom Limited announced that they will report fiscal year 2024 results on May 30, 2024 New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 45% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (₹1.46b market cap, or US$17.5m). Announcement • Jan 26
Steelman Telecom Limited announced that it has received INR 42.75 million in funding from Bhagyoday Oil Industries Pvt Ltd, Navyarth Capital Advisors Private Limited On January 25, 2024, Steelman Telecom Limited, closed the transaction. The transaction has been approved by the shareholders of the company. Announcement • Dec 13
Steelman Telecom Limited announced that it expects to receive INR 42.75 million in funding from Bhagyoday Oil Industries, Navyarth Capital Advisors Private Limited and other investors Steelman Telecom Limited has announced a private placement to issue 1,000,000 fully convertible warrants on Preferential basis equivalent number of fully paid-up equity share of the company of face value of INR 10 at a price of INR 42.75 per warrant for a gross proceeds INR 17,000,000 on December 11, 2023. The warrants will be convertible into one common share at a conversion price of INR 128.25 per share. The transaction included participation from new investors Mahendra Bindal to subscribe 200,000 warrants, Mayank Bindal to subscribe 200,000 warrants, Bhagyoday Oil Industries to subscribe 100,000, Laxmi Devi Jhunjhunwala to subscribe 200,000 warrants, Pooja Vivek Jalan to subscribe100,000 warrants, Navyarth Capital Advisors Private Limited to subscribe 100,000 warrants, Mohit Baser to subscribe 50,000 warrants and Anshul Baser to subscribe 50,000 warrants. The transaction is approved by board of directors. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 45% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.65b market cap, or US$19.8m). Announcement • Nov 07
Steelman Telecom Limited to Report Q2, 2024 Results on Nov 14, 2023 Steelman Telecom Limited announced that they will report Q2, 2024 results on Nov 14, 2023 Announcement • Aug 31
Steelman Telecom Limited Approves Constitution of CSR Committee Steelman Telecom Limited at its board meeting held on August 30, 2023, approved constitution of CSR Committee as detailed below: Mr. Pravin Poddar, Chairman (Independent Director); Mr. Mahendra Bindal, Member (Managing Director) and Ms. Saloni Bindal, Member (Non-Executive Director). Reported Earnings • Jul 27
Full year 2023 earnings released: EPS: ₹0.96 (vs ₹3.54 in FY 2022) Full year 2023 results: EPS: ₹0.96 (down from ₹3.54 in FY 2022). Revenue: ₹1.35b (up 34% from FY 2022). Net income: ₹8.30m (down 69% from FY 2022). Profit margin: 0.6% (down from 2.7% in FY 2022). The decrease in margin was driven by higher expenses. Announcement • Jul 13
Steelman Telecom Limited, Annual General Meeting, Aug 19, 2023 Steelman Telecom Limited, Annual General Meeting, Aug 19, 2023, at 12:00 Indian Standard Time. Location: ECOHUB PREMISES, 2F/11, ECOSPACE BUSINESS PARK, AA II, NEW TOWN WEST BENGAL, Kolkata India Announcement • May 25
Steelman Telecom Limited to Report Q4, 2023 Results on May 30, 2023 Steelman Telecom Limited announced that they will report Q4, 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹141, the stock trades at a trailing P/E ratio of 50.9x. Average trailing P/E is 19x in the Telecom industry in India. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹160, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 19x in the Telecom industry in India. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Pravin Poddar was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Pravin Poddar was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 