Tata Teleservices (Maharashtra) Ltd.

NSE: TTML · Telecom - Cellular & Fixed line services

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Snapshot

Unlock Tata Teleservices (Maharashtra) Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Tata Teleservices (Maharashtra) Limited provides wireline voice, data, and managed telecom services to enterprise customers primarily in Maharashtra and Goa. Operating under the Tata Tele Business Services brand, the company offers a comprehensive suite of cloud, software, collaboration, and IoT solutions.

Business Model

The company generates revenue by providing connectivity and communication solutions to enterprise clients, leveraging its extensive optical fibre transmission network. Its business model focuses on recurring service fees from cloud, data, voice, and cyber security offerings.

  • Optical fiber network:17,000 kilometers

Growth Outlook

Growth is driven by the increasing demand for digital transformation, cloud-based collaboration tools, and IoT-enabled enterprise solutions. The company continues to expand its portfolio of managed services to cater to the evolving connectivity needs of businesses.

Key Risks

  • Regulatory and Compliance Risk. The telecom sector is subject to stringent and evolving government regulations that can impact operational costs and licensing requirements.
  • Intense Market Competition. The company faces significant competition from large national telecom operators offering aggressive pricing and integrated service bundles.
  • Technological Obsolescence. Rapid advancements in communication technology require continuous capital expenditure to upgrade infrastructure and maintain service relevance.
  • Financial Leverage. The company's historical financial performance and debt levels pose risks to its long-term capital structure and investment capacity.

Price

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Key Metrics

REVENUE

₹1,160 Cr

TTM · standalone

-11.3%YoY

NET PROFIT

₹-215 Cr

TTM · standalone

+83.1%YoY

EPS

₹-1.10

TTM · standalone

+83.1%YoY

RETURN ON EQUITY

1.1%

TTM · standalone

-5.5 ppYoY

RETURN ON CAPITAL EMPLOYED

-10.7%

TTM · standalone

-4.6 ppYoY

P/E

-37.0x

Q4 FY26 · standalone

-37.0 vs -8.1x5Y avg

EV/EBITDA

45.2x

Q4 FY26 · standalone

45.2 vs 51.1x5Y avg

EBITDA MARGIN

54.5%

TTM · standalone

+9.7 ppYoY

NET PROFIT MARGIN

196.6%

Q4 FY26 · standalone

+296.0 ppYoY

DEBT TO EQUITY

-1.0%

Q4 FY26 · standalone

+0.0 ppYoY

Peers · Telecom - Cellular & Fixed line services

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Tata Teleservices (Maharashtra) Ltd.TTML
6,803-36.9945.22-11.3%54.5%1.1%-10.7%-36.7%
Bharti Airtel Ltd.BHARTIARTL
10,97,58141.8810.6722.0%58.1%27.6%19.2%-0.8%
Vodafone Idea Ltd.IDEA
96,6414.3815.243.0%43.6%-56.0%38.7%+77.4%
Bharti Hexacom Ltd.BHARTIHEXA
78,15546.9816.439.4%54.7%27.8%22.8%-10.0%
Tata Communications Ltd.TATACOMM
40,44450.2312.177.0%20.7%31.9%15.5%+6.7%
M T N LMTNL
1,506-0.5883.7418.0%53.8%11.2%3.5%-43.4%

As of Q4 FY26

Financials